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November 14, 2008

Statistics
KSE 100 Index
Previous Index
9,183.14
Current Index
9,183.14
Change %
0.00%
YTD (CY08)
(34.76)%
YTD (FY09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
9,536.33
(3.08)%
HANGSENG
13,221.35
(5.20)%
NIKKEI 255
8,238.64
(5.30)%
FTSE
4,169.21
(0.31)%
DJI
8,835.25
6.67%
SSEC
1,859.11
0.84%
NASDAQ
1,240.93
6.48%

S.C.R.A
11-11-2008
(4.93)
November 08
(4.41)
YTD
(256.43)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
15.43%
KIBOR (6 months)
15.69%
PIB (10 years)
16.46%

Exchange Rates
Rs/US
79.00
Rs/UK
119.13
Rs/EURO
102.31
Rs/OMAN RIYAL
210.205

commodities
Oil
$58.32/barrel
Oil Change in %
(1.09)%
Gold
$730.00/ounce
Gold Change in %
1.60%

Inflation
CPI Gen. Oct 08 (YOY)
25.0%
CPI Gen. (Jul-Oct 08)
24.6%
NFNE Core INFL Oct 08 (YOY)
18.3%
NFNE Core INFL (Jul-Oct 08)
16.7%

Economic Indicators
US$ Reserves (Billion)
6.74
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.84mn
Trade Deficit (Jul- Oct 08)
$(7.52)bn
Curr. A/C (Jul- Oct 08)
$(3.95)bn
Remittances (Jul- Oct 08)
$2.35bn
Foreign Investment (Jul-Sep 08)
$0.94 bn
Comm. Banks Deposit Base (Oct 25, 08)
Rs.3,670bn

Daily Returns and NAVs
as of Nov 13, 2008
 
Offer
Redemption
POBOP
46.8970/-
46.4280/-
Daily Return
16.30%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N//A
POAIIF
50.7000/-
50.1930/-
Daily Return
58.16%
POAF
10.6083/-
Daily Return
N/A
* Daily Returns are calculated as per MUFAP guidelines

Inflation
AMC Ratings
AM3+
POBOPAPF
Fund Stablility Rating
A(f)
POAF Fund Rating
AA-

Economy

Country to miss growth target by 1.5 percent in fiscal year 2009
The State Bank of Pakistan on Thursday projected that the country will miss its Gross Domestic Products (GDP) target by 1.5 percent in FY09 and expected that the growth would be some 4 percent, the lowest in last six years. The country is witnessing over 6.5 percent GDP growth rate since FY03 and during FY08, the country's economy registered a growth of 5.8 percent more... (BR)

Raise in discount rate defended
Representatives of trade and industry have generally appreciated the policy measures announced by Dr Shamshad Akhtar, Governor State Bank of Pakistan (SBP) on Wednesday more... (BR)

SBP tells banks not to increase margin over Kibor
The State Bank of Pakistan on Thursday instructed banks that margin over the Kibor should not be increased during the tenure of the lending product. The central bank said that it has been brought to its notice that some banks/DFIs have misconstrued that instructions contained in the BPRD Circular No 12 of 2007 are applicable on consumer lending products only, which interpretation is not correct more... (BR)

Rs 50 million suspicious transactions unearthed
The Financial Monitoring Unit (FMU) of the State Bank of Pakistan established under Anti-Money Laundering Ordinance 2007 has unearthed its first-ever case of suspicious business transactions worth Rs 50 million and asked the National Accountability Bureau (NAB) to initiate investigation against two companies/enterprises more... (BR)

Talks with Pakistan well advanced: IMF
Talks between the International Monetary Fund and Pakistan's new civilian government on a program to tackle the country's economic problems are well advanced, an IMF spokesman said on Thursday. "There are still a few issues on which work is continuing in order to reach understandings," IMF spokesman David Hawley told a regular press briefing more... (BR)

Govt adheres to Benazir's agenda, NA told
The government told the National Assembly on Thursday it would adhere to assassinated leader Benazir Bhutto’s democratic agenda in a vociferous response to an opposition charge of deviation more... (D)

PSM among 17 units to be privatised: National Assembly informed
The government has planned to privatise 17 public sector industrial units including Pakistan Steel Mills and Qadirpur Gas Field during 2008-09, Privatisation Minister Syed Naveed Qamar said in a written reply to a question in National Assembly here on Thursday more... (BR)

Qadirpur Gas Field will not be privatised at this stage: Prime Minister
Prime Minister Syed Yousuf Raza Gilani has said that Qadirpur gas-field will not be privatised at this stage and the parliament would be taken into confidence before the government decides to privatise the field. Speaking in the Senate here on Thursday, he said the government was not selling Qadirpur gas-field more... (BR)

Only 22 percent reduction given in existing power tariff
The government has given only 22 percent reduction in existing power tariff rather than 40 percent already being given by the Ministry of Water and Power. The revised notification is expected to be issued today (Friday) more... (BR)

PPP finalises programme for Benazir's death anniversary: ‘Public holiday on Dec 27'
The Pakistan People’s Party (PPP) on Thursday finalised a month-long programme to commemorate Benazir Bhutto’s first death anniversary and announced a public holiday on Dec 27 more... (D)

Kayani to attend Nato defence chiefs' meeting
Army Chief General Ashfaq Parvez Kayani will leave for Brussels on Nov 18 to attend a meeting of defence chiefs of Nato more... (D)

sector Briefing

Salana Munafa scheme: Saudi Pak Bank offering attractive return
Saudi Pak Bank is creating a buzz over its recently launched "Salana Munafa" term deposit scheme. The scheme gives depositors 14.5% return in just one year of investment of Rs 100,000 or more. The market for term deposits is currently very competitive with almost all the big banks (and many small ones as well) flaunting their menu of term deposits more... (BR)

 
(D): Dawn (BR): Business Recorder (FD): The Financial Daily
seprator
Research Team:
Shoaib Ali Khan
Department Head

Shayan Hasan
Analyst
Zhoaib Kabani
Technical Analyst
Salman Kazmi
Analyst
Ayub Khuhro
Analyst
Seprator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon.  Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission