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May 11, 2009

Statistics
KSE 100 Index
Previous Index
7,125.66
Current Index
7,129.51
Change %
0.05%
YTD (CY09)
21.60%
YTD (FY09)
(42.00)%

International Indicates
 
Close
Percentage
BSE-30
11,876.43
(1.93)%
HANGSENG
17,839.87.
1.00%
NIKKEI 255
9,432.93
0.50%
FTSE
4,462.09
1.40%
DJI
8,574.65
1.96%
SSEC
2,648.30
0.86%
NASDAQ
1,739.00
1.33%

S.C.R.A
08-05-2009
(1.22)
May-09
0.58
YTD
(575.89)

Money Market Updates
Tbill Cut-off
 
1 year
13.30%
6 month
13.19%
KIBOR (3 months)
13.24%
KIBOR (6 months)
13.34%
PIB (10 years)
12.42%

Exchange Rates
Rs/US
80.35
Rs/UK
122.49
Rs/EURO
109.59
Rs/OMAN RIYAL
209.66

commodities
Oil
$58.16/barrel
Oil Change in %
(0.80)%
Gold
$916.10/ounce
Gold Change in %
0.13%

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)
11.11
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 (May 02, 08)
Rs.3,904bn

Daily Returns and NAVs
as of May 09, 2009
 
Offer
Redemption
POBOP
50.2127/-
49.7106/-
Daily Return
12.47%
POASF
-/-
-/-
Daily Return
-%
POAIF
-/-
-/-
Daily Return
-%
POAIIF
55.0990/-
54.5480/-
Daily Return
8.29%
POAF
10.7727/-
Daily Return
(21.14)%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

No change in oil prices until budget
The government has decided not to change oil prices until the next budget to meet the revenue target set in consultation with the International Monetary Fund (IMF). Sources told Business Recorder that this is the policy decision because the government wants to meet the revenue target through Petroleum Development Levy (PDL) collected by taxing petroleum products more... (BR)

IMF changes revenue target to 10.2 percent of GDP growth
The International Monetary Fund (IMF) has removed the current revenue target slab of Rs 1.327 trillion after negotiations with the team of taxmen in Dubai, and linked it with 10.2 percent of annual GDP growth, Business Recorder learnt on Saturday more... (BR)

World Bank to release $961 million by June 30
During April-June this year the World Bank is releasing $439 for various project loans and $522 program loans more... (D)

EU presidency plans first summit with Pakistan
The European Union plans to hold the bloc's first ever summit with Pakistan in June to "help strengthen the civilian government" there, an EU presidency source said Saturday. The decision to hold the summit is also "a testament to the political importance the EU attaches to its relationship with the country," the Czech EU presidency source said more... (BR)

Pakistani state is not going to collapse: Zardari
President Asif Ali Zardari, in an interview aired Sunday, strongly rejected the notion that his country might collapse and called for international efforts to fight Islamic extremism more... (BR)

200 miscreants killed in operation: ISPR
Security forces have killed 180 to 200 miscreants in last 24 hours in various areas of Swat and Shangla during the ongoing military operation, said Inter Services Public Relations (ISPR) here on Sunday. It said suspected locations of miscreants were targeted in Kanju, Mingora, Venaibaba, Namal, Qambar, Peochar (Miscreants Headquarters), Fizagath, Tiligram, Chamtalai. Reportedly 50-60 miscreants were killed since Sunday morning more... (BR)

sector Briefing

Pepco to release Rs 12 billion to IPPs to clear circular debt
Pakistan Electric Power Company (Pepco) will release Rs 12 billion in a couple of days to independent power producers (IPPs) to clear the circular debt. Pepco Managing Director Tahir Basharat Cheema, addressing a press conference here on Saturday, that out of Rs 180 billion circular debt, Rs 80 billion had been retired in March and the remaining would be cleared by the end June more... (BR)

Egypt's Orascom Telecom buys $140 million of Mobilink's debt
Egypt's Orascom Telecom said on Sunday its Pakistan unit had repurchased up to $140 million in senior notes at a 27 percent discount to face value. The unit, Pakistan Mobile Communications Limited (Mobilink), will spend around $100.6 million to buy back almost $138 million of senior notes due in 2013, OT said in a statement more... (BR)

Steel industry rejects 15 percent regulatory duty on flat rolled products
Pakistan Steel-line Pipe Industry Association (PSPA) has rejected the proposed imposition of regulatory duty at the rate of 15 percent on all flat rolled products which are used as raw material for manufactures of steel welded pipes 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