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December 02, 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
8,839.87
(2.87)%
HANGSENG
14,108.84
1.60%
NIKKEI 255
8,397.22
(1.40)%
FTSE
4,065.49
(5.19)%
DJI
8,149.09
(7.70)%
SSEC
1,896.45
1.83%
NASDAQ
1,398.07
(8.95)%

S.C.R.A
28-11-2008
(2.06)
November 08
(26.40)
YTD
(278.43)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.48%
KIBOR (6 months)
15.67%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.70
Rs/UK
120.58
Rs/EURO
99.68
Rs/OMAN RIYAL
204.59

commodities
Oil
$47.97/barrel
Oil Change in %
(2.66)%
Gold
$775.10/ounce
Gold Change in %
(0.22)%

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)
9.50
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.95mn
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 22, 08)
Rs.3,709bn

Daily Returns and NAVs
as of Dec 01, 2008
 
Offer
Redemption
POBOP
47.2689/-
46.7962/-
Daily Return
17.62%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.2044/-
50.6924/-
Daily Return
52.35%
POAF
10.6066/-
Daily Return
14.17%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Profit rates on National Savings Schemes enhanced
The federal government keeping in view the public interest has enhanced the rates of profit on National Savings Schemes effective from 1st December 2008, according to the press release issued by the Central Directorate of National Savings more... (BR)

July-Sept budget gap widens to Rs139.4bn
The budget deficit rose to Rs139.461 billion or 1 per cent of the gross domestic product (GDP) in the first quarter of the current fiscal year against the full year target of 4.3 per cent owing to rise in non-development expenditures. A slight surge has been witnessed in the military expenditures followed by highest-ever amount for servicing of domestic debt and spending of Rs56 billion in the first quarter quoted as “unidentified expenditures” more... (D)

 

 

US has no reason to doubt Pakistan: White House
Washington has no reason to doubt Pakistan's assertion that it was not involved in the recent deadly attacks in Mumbai, the White House said Monday as US intelligence experts probed the militant operation. "I've heard nothing that says that the Pakistani government was involved," spokeswoman Dana Perino told reporters, adding that US President George W. Bush was briefed in the White House situation room on the Mumbai attacks more... (BR)

India toughens stand, calls for strong action:
Demand to extradite Dawood Ibrahim, Masood Azhar
Sleuths from Israel, the United States and Britain were studying clues from the battle zone of last week’s terror attacks in Mumbai as India mounted pressure on Pakistan on Monday to act against specific suspects New Delhi wants to be extradited. Pakistan’s High Commissioner Shahid Malik was called to the foreign ministry where he was “informed that the recent terrorist attack on Mumbai was carried out by elements from Pakistan,” an Indian statement said. “Government expects that strong action would be taken against those elements, whosoever they may be, responsible for this outrage.” more... (D)

Any confrontation to be disastrous for war on terror: Zardari
President Asif Ali Zardari in an interview with the leading British daily "The Financial Times" has warned against escalating tensions between Pakistan and India and said any confrontation would be disastrous for the war on terror as this would sap his nation's effort against militants on its Afghan border more... (BR)

 

sector Briefing

Proposal to IMF: government seeks removal of floor from December 12
The government has proposed to the International Monetary Fund (IMF) that KSE price floor should be removed from December 12, 2008, with 2 percent lower circuit, sources said. It is learnt that Rs 14.5 billion has been made available for market stabilisation fund, while the remaining Rs 5.5 billion would be available soon more... (BR)

Power subsidy to go by year-end: Finance Secretary
Secretary Finance, Waqar Masood has said that subsidy being provided on electricity will be withdrawn by the end of this year. He said this during the briefing of Senate Standing Committee on Finance on Monday. He further said that the government will receive loans amounting to 4 billion dollars from World Bank and Asian Development Bank more... (FD)

 
(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