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January 27, 2009

Statistics
KSE 100 Index
Previous Index
4,929.55
Current Index
4,815.34
Change %
(2.32)%
YTD (CY09)
(17.90)%
YTD (FY09)
(60.80)%

International Indicates
 
Close
Percentage
BSE-30
8,674.35
(1.58)%
HANGSENG
12,578.60
(0.60)%
NIKKEI 255
7,682.14
(0.80)%
FTSE
4,209.01
3.86%
DJI
8,116.03
0.58%
SSEC
1,990.70
(0.71)%
NASDAQ
1,489.46
0.82%

S.C.R.A
23-01-2009
(7.13)
January 09
(94.54)
YTD
(404.47)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.01%
KIBOR (3 months)
14.67%
KIBOR (6 months)
15.31%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
108.02
Rs/EURO
102.18
Rs/OMAN RIYAL
207.08

commodities
Oil
$46.21/barrel
Oil Change in %
1.05%
Gold
$903.00/ounce
Gold Change in %
(0.64)%

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)
9.95
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 17, 08)
Rs.3,832bn

Daily Returns and NAVs
as of Jan 24, 2009
 
Offer
Redemption
POBOP
47.2418/-
46.7694/-
Daily Return
13.66%
POASF
N/A-
N/A-
Daily Return
N/A
POAIF
N/A-
N/A-
Daily Return
N/A
POAIIF
52.7031/-
52.1761/-
Daily Return
12.63%
POAF
9.4202/-
Daily Return
16.32%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Private parties' foreign exchange loans may be converted into rupee
The government is likely to convert foreign currency loans into Pak rupees, to be paid back by private sector borrowers who had failed to fulfil their commitments in time, sources close to Economic Affairs Division (EAD) Secretary told Business Recorder more...

Government finalises new privatisation policy
The government on Monday finalised a new privatisation policy which allows transactions of only 26 per cent shares of government entities with transfer of ownership and discard the previous government’s policy of strategic sale for raising money more... (D)

Brokerage industry under severe pressure
Threats of systematic failure of the clearing system of the bourses has been subsided through effective settlement of the outstanding CFS issue lately. According to Pakistan Credit Rating Agency (Pacra) analysts Rai Umar Zafar, Samiya Mukhtar and Waqas Munir, equity markets in Pakistan have come under severe pressure since March 2008 more... (BR)

United States will strike in Pakistan on tip-off: Biden
Sticking to the campaign pledge of US President Barack Obama, his deputy and Vice President Joe Biden said the United States would not hesitate to launch attacks inside Pakistan, if it had actionable intelligence against "high-value" al Qaeda targets more... (FD)

MQM joins cabinet, JUI gets two more slots
The Muttahida Qaumi Movement finally became part of the ruling alliance at the centre after two of its members were inducted into the federal cabinet on Monday more... (D)

sector Briefing

Indian importers cancel 25,000 tons of cement orders
Indian importers have cancelled import orders for about 25,000 tons cement from Pakistan and have set a condition of 7 dollars per ton reduction in its price, industry sources told Business Recorder on Monday. They said that Indian importers have cancelled orders and set this condition after imposing 12 percent duties on cement import by Indian government more... (BR)

Ten insurers debarred from doing fresh business
The Securities & Exchange Commission of Pakistan (SECP) has stopped 10 insurance companies from underwriting fresh insurance business. The public has been warned and notified not to enter into any new insurance contracts with these companies. The companies are: 1) Business & Industrial Insurance Company; 2) Dadabhoy Insurance Company; 3) Seafield Insurance Company; 4) Agro General Insurance Company; 5) Platinum Insurance Company; 6) Progressive Insurance Company; 7) Continental Insurance Company; 8) Union Insurance Company; 9) Credit Insurance Company and 10) North Star Insurance Company. The SECP reportedly earned public appreciation however it has been a general opinion that a number of insurance companies placed on defaulters' counter for a long time must also be dealt with. These are: 1) Beema Pakistan; 2) Delta Insurance; 3) Hallmark Insurance; 4) Ittefaq General Insurance; 5) Pak Northern Insurance; 6) Pakistan General Insurance; 7) Standard Insurance and 8) Sterling Insurance more... (FD)

Iran to be asked to link gas price to 70 percent of crude
Pakistan is expected to request Iran to link gas price on the Iran-Pakistan-India (IPI) project to 70 percent of crude, or a 10 percent discount on its last offer linking gas price to 78 percent of crude oil price. This was stated before a subcommittee of Senate standing committee on petroleum and natural resources that met here on Monday to review and discuss the IPI pipeline project 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