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January 15, 2009

Statistics
KSE 100 Index
Previous Index
6,059.09
Current Index
6,051.16
Change %
(0.13)%
YTD (CY09)
3.17%
YTD (FY09)
(50.76)%

International Indicates
 
Close
Percentage
BSE-30
9,370.49
3.30%
HANGSENG
13,704.61
0.30%
NIKKEI 255
8,438.45
0.30%
FTSE
4,180.64
(4.97)%
DJI
8,200.14
(2.94)%
SSEC
1,928.87
3.52%
NASDAQ
1,489.64
(3.67)%

S.C.R.A
13-01-2009
(15.35)
January 09
(71.90)
YTD
(381.83)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.01%
KIBOR (3 months)
15.16%
KIBOR (6 months)
15.57%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.05
Rs/UK
115.14
Rs/EURO
104.85
Rs/OMAN RIYAL
206.72

commodities
Oil
$36.41/barrel
Oil Change in %
(2.33)%
Gold
$810.16/ounce
Gold Change in %
0.22%

Inflation
CPI Gen. Dec 08 (YOY)
23.34%
CPI Gen. (Jul-Dec 08)
24.43%
NFNE Core INFL Dec 08 (YOY)
18.80%
NFNE Core INFL (Jul-Nov 08)
17.10%

Economic Indicators
US$ Reserves (Billion)
10.00
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Nov 08)
$(8.74)bn
Curr. A/C (Jul-Nov 08)
$(6.85)bn
Remittances (Jul-Nov 08)
$2.97bn
Foreign Investment (Jul-Nov 08)
$1.44bn
All Scheduled Banks Deposit Base (Jan 03, 08)
Rs.3,860bn

Daily Returns and NAVs
as of Jan 14, 2009
 
Offer
Redemption
POBOP
47.1486/-
46.6771/-
Daily Return
12.36%
POASF
53.28/-
51.95/-
Daily Return
63.34%
POAIF
52.04/-
50.74/-
Daily Return
72.04%
POAIIF
52.5315/-
52.0062/-
Daily Return
12.67%
POAF
9.3810/-
Daily Return
16.39%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

July-Dec RTO Karachi collection up 38 per cent
The Regional Tax Office (RTO), Karachi collected Rs53.787 billion during the first half (July-Dec) of 2008-09, showing a growth of 38 per cent over the corresponding period last year when the collection stood at Rs38.968 more... (D)

Energy crisis to be over by year-end
Sindh Chief Minister Syed Qaim Ali Shah on Wednesday said a high-level meeting will be held in Islamabad after two days in which important decisions on energy sector will be taken more... (D)

Moody's expects US companies default rate to triple in 2009
Moody's Investors Service said the global default rate on junk-rated debt quadrupled by the end of 2008 to 4pc and will likely triple this year as the economic slowdown further pressures those already struggling firms more... (FD)

Pakistan and India manage tensions despite troop movements: US
The US State Department said Wednesday that Pakistan and India have so far managed to control tensions over the November Mumbai bombings, despite the deployment of troops to their common border. State Department spokesman Sean McCormack told reporters that India and Pakistan have so far managed the tensions well when asked if the United States was concerned about the latest troop movements more... (BR)

Indian army chief says Pakistan deployed troops on border
The head of India's army on Wednesday confirmed that Pakistan has redeployed troops along the two countries' tense border but said he regarded war as a "last resort." "The aspect of some (Pakistani) troops coming towards the east... we are aware of it. That has happened. They have come to the eastern border of Pakistan with India," General Deepak Kapoor told a news conference more... (BR)

New Delhi chalks out new plan against Pakistan
India has finalised a new plan against Pakistan. Quoting an Indian TV channel on Wednesday, Aaj Channel reports that under the new plan the process of composite dialogue will be suspended for an indefinite period while the option of military action against Pakistan will be kept open more... (BR)

sector Briefing

Fauji Cement to set up largest plant
Fauji Cement Company Limited is establishing the largest cement plant ever built in Pakistan, said Company Secretary Brigadier (Retd) Shabir Ahmed. The Company had entered into contract with a world renowned cement plant manufacturing firm Polysius AG (Germany) to supply state of the art plant and machinery to produce 7200 tonnes per day of clinker, he said in a press release issued here on Wednesday more... (BR)

Panel to review current status of IPI gas line project today
The Steering Committee on Iran-Pakistan-India (IPI) gas pipeline project will meet on Thursday (today) to decide the fate of the gas pipeline deal with Iran. Dr Asim Hussain, Advisor to the Prime Minister on Petroleum and Natural Resources, will brief the meeting on the proposed deal more... (BR)

Import of old, used vehicles: FBR cuts depreciation to one percent
The Federal Board of Revenue (FBR) has reduced depreciation from two to one percent on import of old and used vehicles by overseas Pakistanis. The FBR has amended SRO.577 (I)/2005 through a notification issued here on Wednesday. Resultantly, the decision to make 50 percent reduction in depreciation rate would increase overall rates of duties and taxes on the import of old and used vehicles more... (BR)

 
(D): Dawn (BR): Business Recorder (FD): The Financial Daily
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