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February 24, 2009

Statistics
KSE 100 Index
Previous Index
6,969.09
Current Index
5,850.26
Change %
(1.99)%
YTD (CY09)
(0.30)%
YTD (FY09)
(52.40)%

International Indicates
 
Close
Percentage
BSE-30
8,843.21
(2.21)%
HANGSENG
13,175.10
3.80%
NIKKEI 255
7,209.43
(0.50)%
FTSE
3,850.73
(1.00)%
DJI
7,114.94
(3.40)%
SSEC
2,305.78
1.96%
NASDAQ
1,387.72
(3.71)%

S.C.R.A
20-02-2009
(3.82)
February 09
(52.46)
YTD
(502.56)

Money Market Updates
Tbill Cut-off
 
1 year
14.21%
6 month
14.01%
KIBOR (3 months)
13.68%
KIBOR (6 months)
14.03%
PIB (10 years)
14.94%

Exchange Rates
Rs/US
79.90
Rs/UK
116.05
Rs/EURO
103.15
Rs/OMAN RIYAL
208.11

commodities
Oil
$38.06/barrel
Oil Change in %
(0.99)%
Gold
$988.00/ounce
Gold Change in %
(0.70)%

Inflation
CPI Gen. Jan 09(YOY)
20.50%
CPI Gen. (Jul-Jan 09)
23.85%
NFNE Core INFL Jan 09 (YOY)
18.90%
NFNE Core INFL (Jul-Jan 09)
17.60%

Economic Indicators
US$ Reserves (Billion)
10.29
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Jan 09)
$(10.73)bn
Curr. A/C (Jul-Jan 09)
$(7.75)bn
Remittances (Jul-Jan 09)
$4.27bn
Foreign Investment (Jul-Jan 09)
$2.23bn
All Scheduled Banks Deposit Base (Feb 14, 08)
Rs.3,861bn

Daily Returns and NAVs
as of Feb 23, 2009
 
Offer
Redemption
POBOP
48.8416/-
48.3532/-
Daily Return
52.92%
POASF
54.45 /-
53.09 /-
Daily Return
(66.10)%
POAIF
53.31 /-
51.98 /-
Daily Return
21.10%
POAIIF
53.8444/-
53.3060/-
Daily Return
55.66%
POAF
10.0245/-
Daily Return
17.71%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Second $750 million tranche: Pakistan and IMF officials to meet in Dubai
The country's top financial officials will shortly meet International Monetary Fund (IMF) officials in Dubai as time for handing over of second $750 million tranche of the Fund's standby loan for Islamabad is fast approaching. According to sources, Pakistan's officials would also discuss the country's economic targets set for the next six months, besides the handing over of the loan in March more... (BR)

Dedicated economic zone offered to Malaysian investors
Pakistan has offered Malaysian investors a dedicated economic zone to be operated on a Build-Own-Operate (BOO) basis. According to the sources in Pakistan High Commission in Kuala Lumpur, the offer was a formal follow-up to the proposal made by the Malaysian trade delegation during its visit to Pakistan last November more... (BR)

Pakistan inks Free Trade Agreement (FTA) with China
The Free Trade Agreement (FTA) on service area, signed between Pakistan and China during the ongoing visit of President Asif Ali Zardari, is expected to be effective as of the first half of the current year. The pact will lead to a China-Pakistan comprehensive free trade zone including trade in goods, trade in service and investment, said a report published in People's Daily Online Edition on Monday more... (FD)

Prime Minister agrees to annul 17th Amendment: Shahbaz
Chief Minister Punjab Mian Shehbaz Sharif has said that Prime Minister Syed Yousuf Raza Gilani has agreed with him to annul seventh amendment and not destabilising the Punjab government. PML-N President and Chief Minister Punjab Shehbaz Sharif called on Prime Minister Syed Yousuf Raza Gilani at the Prime Minister House. The meeting lasted for about two hours more... (BR)

Over 70 US military advisers working with Pak Army: NYT
United States military advisers and technical specialists are secretly working in Pakistan to help its armed forces battle al Qaeda and the Taliban in the country's lawless tribal areas, The New York Times revealed Monday quoting American military officials more... (D)

US military role in Pakistan no secret: Pentagon
The US Defence Department on Monday confirmed it has a team of military advisers training the Pakistani army in counter-insurgency operations but said the program has been openly discussed for months, rejecting a newspaper report suggesting it was a "secret" project. "The training effort with the (Pakistan) Frontier Corps is not a secret," said Pentagon spokesman Bryan Whitman, referring to a New York Times report more... (BR)

sector Briefing

Microfinance credit guarantee facility: SBP announces operational mechanism
The State Bank of Pakistan (SBP) on Monday announced Operational Mechanism for Microfinance Credit Guarantee Facility (MCGF). The SBP in December last had established Microfinance Credit Guarantee Facility (MCGF) aimed at encouraging banks/DFIs to join hands with financially and socially sound MFBs/MFIs for extending financial services to poor and marginalised segments of the society more... (BR)

Neelum-Jhelum hydropower project: Pakistan may get $948 million loan
Pakistan may get a loan amounting to $948 million from China, Saudi Fund for Development and Islamic Development Bank (IDB) which would be adequate to meet 58 percent of the total cost of the 969MW Neelum-Jhelum Hydropower Project. Sources told Business Recorder that Pakistan would receive $448 million from China under Pak-China co-operation in hydel power generation agreement recently signed between the two countries during President Asif Ali Zardari visit more... (BR)

FAML announces dividend for FIGF, FSGF
The Board of Directors of Faysal Asset Management Limited (FAML) has announced an interim cash/bonus dividend of Rs 3.20 per unit (3.20 percent of the par value of Rs 100) for half year ended December 31, 2008 for Faysal Income and Growth Fund (FIGF); and Rs 3.20 per unit (3.20 percent of the par value of Rs 1001-) for Faysal Savings Growth Fund (FSGF) 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 Manager
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