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January 30, 2009

Statistics
KSE 100 Index
Previous Index
5,139.93
Current Index
5,183.22
Change %
0.84%
YTD (CY09)
(11.60)%
YTD (FY09)
(57.80)%

International Indicates
 
Close
Percentage
BSE-30
9,236.28
(0.23)%
HANGSENG
13,154.43
4.60 %
NIKKEI 255
8,251.24
1.80%
FTSE
4,190.11
(2.50)%
DJI
8,149.01
(2.70)%
SSEC
1,990.70
- %
NASDAQ
1,507.84
(3.24)%

S.C.R.A
28-01-2009
(11.88)
January 09
(110.35)
YTD
(420.28)

Money Market Updates
Tbill Cut-off
 
1 year
14.21%
6 month
14.01%
KIBOR (3 months)
14.60%
KIBOR (6 months)
15.25%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
111.82
Rs/EURO
103.41
Rs/OMAN RIYAL
206.00

commodities
Oil
$41.46/barrel
Oil Change in %
0.05%
Gold
$903.90/ounce
Gold Change in %
(0.13)%

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)
10.21
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 24, 08)
Rs.3,829bn

Daily Returns and NAVs
as of Jan 29, 2009
 
Offer
Redemption
POBOP
47.3003/-
46.8273/-
Daily Return
(99.82)%
POASF
51.98/-
50.68/-
Daily Return
173.67%
POAIF
51.65/-
50.36/-
Daily Return
116.33%
POAIIF
52.9818/-
52.4520/-
Daily Return
12.48%
POAF
9.7351/-
Daily Return
15.75%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

IMF says Pakistan has met initial targets
The International Monetary Fund said on Thursday that data indicated Pakistan had met its end-December targets under its 23-month IMF funding programme, suggesting the government was making some headway in its balance of payments crisis more... (D)

SBP may cut policy rate in second half calendar year 2009
Economists believe that State Bank of Pakistan would cut policy rate in the second quarter of 2009, however, in the upcoming monetary policy SBP is likely to continue with a tight monetary stance with no change in the policy rate more... (BR)

Incorrect profit rates: SECP issues notices to four banks
The Competition Commission of Pakistan (CCP) has issued notices to four banks for advertising term/time deposit accounts giving what it says exaggerated and incorrect profit rates ranging between 16-18 percent. Official sources told Business Recorder on Thursday that some banks have offered return of 16-18 percent to general public more... (BR)

Obama asked to show more restraint in Pakistan
President Barack Obama should deepen US engagement in Afghanistan but show more restraint in Pakistan, ministers participating in special session on "Pakistan and its neighbours" said Thursday as the volatile region took centre stage in Davos more... (BR)

Fresh strategy to crush Swat militants:
Malik names terror outfits behind insurgency
Prime Minister’s Adviser on Interior Affairs Rehman Malik told the Senate on Thursday that a new strategy had been worked out to combat militancy in Swat more... (D)

 

sector Briefing

Cement makers not to entertain orders from India
Cement manufacturers on Thursday unanimously decided to stop and not to accept cement export orders from India after the baseless allegations that RDX was being smuggled into India in the name of cement from Pakistan, industry sources said more... (BR)

Government releases Rs 3.6 billion to PSO for fresh oil import
Government has released Rs 3.6 billion to Pakistan State Oil (PSO) for fresh oil import to ensure unhindered fuel supply. Sources revealed that Finance Ministry had released Rs 6.35 billion to Pakistan Electric Power Company (PEPCO) on Wednesday to pay KAPCO and HUBCO dues more... (BR)

Oil refineries withhold Rs 40 billion PDL
Oil refineries have reportedly withheld Rs 40 billion Petroleum Development Levy (PDL) on POL products payable to the government. Sources told Business Recorder that Advisor to Prime Minister on Finance Shaukat Tarin held a meeting on Monday in the Finance Ministry on the issue of circular debt. The advisor expressed deep concern when informed that oil refineries had withheld Rs 40 billion PDL amount payable to the government 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