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November 26, 2008

Statistics
KSE 100 Index
Previous Index
9,187.10
Current Index
9,187.10
Change %
0.00%
YTD (CY08)
(34.76)%
YTD (FY09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
8,695.53
(2.33)%
HANGSENG
12,878.60
3.38%
NIKKEI 255
8,323.93
5.22%
FTSE
4,171.25
0.44%
DJI
8,479.47
0.43%
SSEC
1,897.06
(3.67)%
NASDAQ
1,142.58
(1.02)%

S.C.R.A
24-11-2008
(0.69)
November 08
(12.40)
YTD
(264.43)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.44%
KIBOR (6 months)
15.64%
PIB (10 years)
16.54%

Exchange Rates
Rs/US
77.50
Rs/UK
121.02
Rs/EURO
102.23
Rs/OMAN RIYAL
205.69

commodities
Oil
$51.20/barrel
Oil Change in %
(4.51)%
Gold
$814.00/ounce
Gold Change in %
0.09%

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)
6.64
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.94mn
Trade Deficit (Jul-Oct 08)
$(7.52)bn
Curr. A/C (Jul-Oct 08)
$(5.94)bn
Remittances (Jul-Oct 08)
$2.35bn
Foreign Investment (Jul-Oct 08)
$1.15bn
All Scheduled Banks Deposit Base (Nov 15, 08)
Rs.3,682bn

Daily Returns and NAVs
as of Nov 25, 2008
 
Offer
Redemption
POBOP
47.1448/-
46.6734/-
Daily Return
17.12%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N//A
POAIIF
51.0160/-
50.5058/-
Daily Return
13.48%
POAF
10.6539/-
Daily Return
13.52%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

No support to stock market without Fund's prior approval
The International Monetary Fund (IMF) has restricted Pakistan from lifting the stock exchange 'floor' or from providing any financial support to the bourse, without prior approval of the Fund, sources in Finance Ministry told Business Recorder more... (BR)

$1 billion from donors will be added to reserves during December
Pakistan would be able to avail $1 billion from other than the IMF donors including $500 million from World Bank and $450 million from Asian Development Bank, says an official. Finance Ministry would be able to add $1 billion in our reserves in addition to the IMF's $3.1 billion to be reaching here within next 24 hours, as transaction takes almost 48 hours to complete after Fund Board approval, says a Finance Ministry official on condition of anonymity more... (BR)

Fiscal deficit to be reduced to 3.3 percent in 2009-10
International Monetary Fund (IMF) has said that fiscal deficit would be brought down to 4.2 percent of Gross Domestic Product (GDP) against the budgetary target of 4.7 percent in the current fiscal year 2008-09, similarly, the deficit would be further reduced to 3.3 percent of GDP in next fiscal year 2009-10 more... (DT)

UAE Petroleum minister calls on Zardari
UAE Minister for Petroleum Mohammad Dhaen Al Halimi called on President Asif Ali Zardari here at the Emirates Palace on Tuesday and discussed the prospects of co-operation between Pakistan and the United Arab Emirates in energy and oil and gas sectors more... (BR)

Action against drones depends on govt, says PAF chief
Despite its limited resources, the Pakistan Air Force is capable of intercepting drones but it is for the government and the political leadership to decide whether to handle the matter diplomatically or militarily more... (D)

sector Briefing

CAR for banks and DFIs reduced to nine percent
The State Bank of Pakistan on Tuesday announced reduction in the minimum Capital Adequacy Ratio (CAR) for banks and DFIs from 10 percent to 9 percent by the end of December 2008. This move allows banks to take on more risk-weighted assets more... (BR)

Asset-based fee for mutual funds not abolished
The Securities and Exchange Commission of Pakistan (SECP) has not abolished the 'asset-based fee system' for mutual funds under the newly notified regulations for the non-banking finance companies (NBFCs). It is learnt that the mutual fund industry had repeatedly demanded of the SECP to take way the 'asset-base fee' on the mutual funds more... (BR)

Meeting to discuss oil shortage, OMCs' problems today
The government has called a meeting of the Oil Companies Advisory Committee (OCAC) on Wednesday to tackle the issue of oil shortage and circular debt, and to review the margins of the oil marketing companies (OMCs). The OMCs are expected to take up the issue of their margins as they contend that their margins have been further reduced after oil prices went down below $100 per barrel in the international market more... (BR)

DAP fertiliser sales rebound by 248% in Oct
The sale of Di-Ammonia Phosphate (DAP) fertiliser has rebounded in the country following the substantial decline of its prices in international and local markets during the peak demand season of Rabi, dealers said on Tuesday more... (DT)

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

Shayan Hasan
Sernior Analyst
Imran Altaf
Analyst
Faiz Malik
Database
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