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December 05, 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
9,229.75
5.51%
HANGSENG
13,509.78
(0.58)%
NIKKEI 255
7,924.24
(1.00)%
FTSE
4,163.60
(0.15)%
DJI
8,376.24
(2.51)%
SSEC
2,001.50
1.84%
NASDAQ
1,445.56
(3.14)%

S.C.R.A
03-12-2008
(0.73)
December 08
(3.18)
YTD
(281.61)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.47%
KIBOR (6 months)
15.67%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.70
Rs/UK
116.31
Rs/EURO
100.04
Rs/OMAN RIYAL
205.65

commodities
Oil
$43.96/barrel
Oil Change in %
0.66%
Gold
$766.00/ounce
Gold Change in %
0.07%

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 29, 08)
Rs.3,756bn

Daily Returns and NAVs
as of Dec 04, 2008
 
Offer
Redemption
POBOP
47.3304/-
46.8571/-
Daily Return
16.50%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.2688/-
50.7561/-
Daily Return
13.49%
POAF
10.6167/-
Daily Return
10.49%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Enhanced duty on luxury, non-essential items possible
Advisor to Prime Minister on Finance Shaukat Tarin said on Thursday that the government would not impose any new taxes before next federal budget but admitted that certain measures have to be taken to increase revenue that would include an upward revision of duty on luxury and non-essential items more... (BR)

IMF tranche pushes country's foreign exchange reserves over $9 billion
The country's liquid foreign reserves have shown a significant surge of 2.4 billion dollar to nine billion dollars, as the country has got the first tranche of stand-by loan from International Monetary Fund (IMF). The State Bank of Pakistan's (SBP) statistics shows that overall foreign reserves have registered an increase of 38 percent or 2.485 billion dollars during the week ended November 29, 2008 more... (BR)

Agreement for $180 million first ADB tranche signed:
donors to provide $4 billion for debt payments till June
To meet foreign debt instalment payments and other liabilities, the multilateral donors will provide a loan of $4 billion to Pakistan by June 2009. Pakistan will receive $1.8 billion from ADB; $600 million from Islamic Development Bank (IDB); $1.3 billion from the World Bank (WB); and $300 million from bilateral donors during this period more... (BR)

Zardari vows 'strong action'
Pakistan on Thursday promised US Secretary of State Condoleezza Rice that it would take 'strong action' against anyone on its territory found to have been involved in the Mumbai attacks. President Asif Ali Zardari told Rice, on a lightning visit to Islamabad, he was determined that Pakistan would not be used to orchestrate attacks or shelter terrorists such as those who committed last week's outrage more... (BR)

Rice for joint action against terrorists by Pakistan and India
Extending full co-operation of US, Secretary of State Condoleezza Rice on Thursday called upon Pakistan and India to take a joint and prompt action against terrorists to eradicate the menace. The US top diplomat was talking to media on Thursday at Chaklala airbase before her departure to US after her visit to India and Pakistan in a bid to defuse the tension between the two countries following Mumbai attacks more... (BR)

 

sector Briefing

Engro seeks joint fertiliser venture with Algerian Company
Engro Chemical Pakistan Limited has expressed its interest in forming a joint venture with FERPHOS, the National Iron Ore & Mining Company of Algeria, for establishing a phosphatic fertiliser complex in Algeria after conducting a detailed feasibility study more... (BR)

Petroleum dealers' margin: government agrees to put lower cap at $90 per barrel
The government on Thursday agreed to place a lower cap on petroleum dealers' margin at 90 dollars per barrel. Sources revealed that during the meeting between dealers and Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Husaain, the two sides agreed to put the lower cap on dealers' margin at 90 dollars per barrel that would result in Rs 1.46 per litre margin on petrol and diesel more... (BR)

KSE approves listing of PMCL's TFCs
Karachi Stock Exchange (KSE) has approved the application for listing and quotation of Rated, Listed and Unsecured Term Finance Certificates (TFCs) of Pakistan Mobile Communications Limited (PMCL) on completion of formalities required under the Listing Regulations of the exchange more... (BR)

 
(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