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May 05, 2009

Statistics
KSE 100 Index
Previous Index
7,202.10
Current Index
7,062.25
Change %
(1.94)%
YTD (CY09)
20.40%
YTD (FY09)
(42.50)%

International Indicates
 
Close
Percentage
BSE-30
12,134.75
6.41%
HANGSENG
16,381.05.
5.50%
NIKKEI 255
8,977.37
1.70%
FTSE
4,243.22
(0.01)%
DJI
8,426.74
2.61%
SSEC
2,555.28
(0.18)%
NASDAQ
1,763.56
2.58%

S.C.R.A
30-04-2009
(4.40)
April 09
(34.93)
YTD
(576.48)

Money Market Updates
Tbill Cut-off
 
1 year
13.14%
6 month
12.76%
KIBOR (3 months)
13.24%
KIBOR (6 months)
13.34%
PIB (10 years)
12.42%

Exchange Rates
Rs/US
80.45
Rs/UK
120.45
Rs/EURO
107.28
Rs/OMAN RIYAL
208.88

commodities
Oil
$54.03/barrel
Oil Change in %
(0.81)%
Gold
$905.10/ounce
Gold Change in %
0.32%

Inflation
CPI Gen. Mar 09(YOY)
19.10%
CPI Gen. (Jul-Mar 09)
23.00%
NFNE Core INFL Mar 09 (YOY)
18.50%
NFNE Core INFL (Jul-Mar 09)
17.90%

Economic Indicators
US$ Reserves (Billion)
11.15
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Mar 09)
$(12.71)bn
Curr. A/C (Jul-Mar 09)
$(7.65)bn
Remittances (Jul-Mar 09)
$5.66bn
Foreign Investment (Jul-Mar 09)
$2.08bn
All Scheduled Banks Deposit Base (Apr 25, 08)
Rs.3,874bn

Daily Returns and NAVs
as of May 04, 2009
 
Offer
Redemption
POBOP
50.1720/-
49.6703/-
Daily Return
14.91%
POASF
60.94/-
59.42/-
Daily Return
(26.03)%
POAIF
55.71/-
54.32/-
Daily Return
(20.11)%
POAIIF
54.8954/-
54.3464/-
Daily Return
6.16%
POAF
10.7718/-
Daily Return
19.54%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Rs 1,250 billion tax target seems an uphill task:
Finance releases review of economic situation for July-March
The revenue target for the current fiscal seems to be an uphill task and could pose a downside risk to the ongoing economic stabilisation programme, said the Ministry of Finance in its Review of Economic Situation for July-March 2008-09 released here on Monday more... (BR)

FDI declines by eight percent
Foreign Direct Investment (FDI) has declined by eight per cent during the first eight months of current fiscal to $3.0421 billion against $3.306 billion in the same period of last year, according to Ministry of Finance's "Review of Economic Situation" more... (BR)

Inflation seen easing to 6pc in FY102.5-3.5pc GDP growth likely: MoF
Inflationary pressures are likely to ease in next fiscal year where the Ministry of Finance (MoF) expects CPI inflation to fall to 6 per cent from an average of close to 20 per cent in the current fiscal year more... (FD)

Pakistan's nuclear arms secure: Mullen
Pakistan's nuclear weapons are secure, the top US military chief Admiral Michael Mullen said Monday, ruling out that they could fall into the hands of Taliban militants. "I remain comfortable that the nuclear weapons in Pakistan are secure, that the Pakistani leadership, and in particular the military, is very focused on this," Mullen, the US joint chiefs of staff, told reporters more... (BR)

Obama to meet Pakistan, Afghan leaders
President Barack Obama presents his strategy for defeating al Qaeda to the leaders of Afghanistan and Pakistan on Wednesday amid growing US concern it is losing the war and neither is a reliable ally. The White House meetings with Pakistani President Asif Ali Zardari and Afghan President Hamid Karzai are likely to be cagey affairs - both visitors have been heavily criticised by Obama's administration and are also wary of each other more... (BR)

Obama vows tougher overseas tax policies
President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting US jobs overseas and that allow wealthy people to evade taxes using offshore accounts. The White House estimates the plan would save $210 billion over the next decade more... (BR)

sector Briefing

Closed-end scheme: SECP introduces procedure to buy-back its certificates
The Securities and Exchange Commission of Pakistan (SECP) has introduced a transparent procedure for closed-end scheme to buy-back its own certificates. According to the SECP circular No 14 of 2009, issued here on Monday. The requirements for the repurchase and resale have been framed in line with best international practices to ensure that repurchase and resale are made in a fair and transparent manner for the benefit of the scheme and its unit-holders more... (BR)

Investment in Yemen: PPL tenders apology to ECC
The Pakistan Petroleum Limited (PPL) has tendered an apology for investing $17.5 million in OMV Yemen without prior consent of the government, a top Petroleum Ministry official told Business Recorder here on Monday. PPL is a leading oil and gas exploration and production (E&P) company. The government is the majority shareholder of the company with equity interest of 78.4C more... (BR)

Drafting amendments in power policy: body set up with provinces' representatives
The government on Monday constituted a committee to take provincial governments on board for drafting amendments in the 'Power Policy 2002', particularly hydropower projects, official sources told Business Recorder. The decision was taken in a meeting of the Board of Private Power and Infrastructure Board (PPIB), presided over by the Minister for Water and Power, Pervez Ashraf more... (BR)

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