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January 22, 2009

Statistics
KSE 100 Index
Previous Index
5,258.28
Current Index
5,136.48
Change %
(2.32)%
YTD (CY09)
(12.40)%
YTD (FY09)
(58.20)%

International Indicates
 
Close
Percentage
BSE-30
8,779.17
(3.53)%
HANGSENG
12,583.63
(2.90)%
NIKKEI 255
7,901.64
(2.00)%
FTSE
4,059.88
(0.77)%
DJI
8,228.10
3.51%
SSEC
1,985.02
(0.51)%
NASDAQ
1,507.07
4.60%

S.C.R.A
20-01-2009
(10.02)
January 09
(78.37)
YTD
(388.30)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.01%
KIBOR (3 months)
14.76%
KIBOR (6 months)
15.40%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
80.00
Rs/UK
111.80
Rs/EURO
103.86
Rs/OMAN RIYAL
209.38

commodities
Oil
$44.05/barrel
Oil Change in %
1.15%
Gold
$853.00/ounce
Gold Change in %
0.34%

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-Dec 08)
$(9.56)bn
Curr. A/C (Jul-Dec 08)
$(7.27)bn
Remittances (Jul-Dec 08)
$3.64bn
Foreign Investment (Jul-Dec 08)
$2.14bn
All Scheduled Banks Deposit Base (Jan 10, 08)
Rs.3,811bn

Daily Returns and NAVs
as of Jan 21, 2009
 
Offer
Redemption
POBOP
47.2062/-
46.7341/-
Daily Return
6.70%
POASF
51.51/-
50.22/-
Daily Return
(274.11)%
POAIF
51.15/-
49.87/-
Daily Return
(73.04)%
POAIIF
52.6516/-
52.1251/-
Daily Return
12.64%
POAF
9.4086/-
Daily Return
24.76%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Economic slump stops interest rate hike
Despite pressure from the International Monetary Fund, the government has signalled that the interest rates would not be increased in the new monetary policy, to be announced on Jan 31 more... (D)

Over $2.1 billion World Bank package on the cards
The World Bank and government of Pakistan are jointly working to finalise the Bank's commitment for development projects amounting to $2,107 million by the end of the current fiscal. World Bank commitment is $800 million budgetary support for three programmes, including Poverty Reduction Support Credit (PRSC), (HESP) and Social Protection Safety Net Development Policy Credit more... (BR)

11 percent decline in foreign investors' repatriation of profit
Repatriation of profit and dividend by foreign investors has begun to move downward due to slackness in the economy and it registered significantly decline of 11 percent during first half of the current fiscal year. "The huge dip in repatriation of profit showed that the earnings of local and foreign companies operating in Pakistan were declining due to global economic slowdown," analysts said more... (BR)

Muslims welcome Obama's pledge — with caution
Muslim leaders on Wednesday cautiously welcomed President Barack Obama’s promise of a fresh start to US relations with the Muslim world and moves to halt war on terror trials at Guantanamo Bay more... (D)

India disagrees with Britain over Kashmir dispute
India rejected on Wednesday a suggestion by Britain that security in South Asia was linked to the Kashmir dispute, and urged nations to act against states which sponsor terrorism. "When the foreign secretary of the UK visited us he shared his perceptions about the situations, and I equally told him and all the interlocutors that this is your perception," India's Foreign Minister Pranab Mukherjee told reporters more... (BR)

sector Briefing

UAE agrees to initiate Khalifa Point refinery project
The United Arab Emirates (UAE) government has agreed to initiate $5 billion Khalifa Point oil refinery project in Balochistan. This positive note to initiate the project from the UAE government came during dialogue on Monday in UAE between UAE government officials and a delegation led by Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain more... (BR)

Oil exploration: ECC seeks details of contracts given to foreign companies
The Economic Co-ordination Committee (ECC) of the Cabinet has sought details of exploration contracts awarded to multinational companies by the Oil and Gas Development Company Limited (OGDCL) for different blocks in different parts of the country, particularly in Balochistan, during the past two decades, official sources told Business Recorder on Wednesday more... (BR)

LHC dismisses petitions against SECP as withdrawn
The Lahore High Court on Wednesday dismissed as withdrawn the different petitions moved by M/s Y S Securities and Services, HSZ Securities and others against an order of the Securities & Exchange Commission of Pakistan (SECP) as the petitioners had reached an out of court settlement 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