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May 19, 2009

Statistics
KSE 100 Index
Previous Index
7,177.64
Current Index
7,172.85
Change %
(0.07)%
YTD (CY09)
22.30%
YTD (FY09)
(41.60)%

International Indicates
 
Close
Percentage
BSE-30
14,284.21
17.34%
HANGSENG
17,022.91.
1.40%
NIKKEI 255
8,997.74
(2.40)%
FTSE
4,446.45.
2.30%
DJI
8,504.08
2.85%
SSEC
2,652.78
0.28%
NASDAQ
1,732.36
3.11%

S.C.R.A
15-05-2009
(3.69)
May-09
(11.28)
YTD
(588.08)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.60%
KIBOR (6 months)
13.60%
PIB (10 years)
12.56%

Exchange Rates
Rs/US
80.70
Rs/UK
122.14
Rs/EURO
108.40
Rs/OMAN RIYAL
210.50

commodities
Oil
$59.75/barrel
Oil Change in %
1.22%
Gold
$922.30/ounce
Gold Change in %
0.07%

Inflation
CPI Gen. Apr 09(YOY)
17.19%
CPI Gen. (Jul-Apr 09)
22.35%
NFNE Core INFL Apr 09 (YOY)
17.70%
NFNE Core INFL (Jul-Apr 09)
17.80%

Economic Indicators
US$ Reserves (Billion)
11.11
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Apr 09)
$(14.16)bn
Curr. A/C (Jul-Apr 09)
$(8.55)bn
Remittances (Jul-Apr 09)
$5.36bn
Foreign Investment (Jul-Apr 09)
$2.21bn
All Scheduled Banks Deposit Base (May 09, 08)
Rs.3,938bn

Daily Returns and NAVs
as of May 18, 2009
 
Offer
Redemption
POBOP
50.7795/-
50.2717/-
Daily Return
12.36%
POASF
61.95/-
60.40/-
Daily Return
66.84%
POAIF
56.06/-
54.66/-
Daily Return
29.01%
POAIIF
55.3554/-
54.8018/-
Daily Return
7.21%
POAF
10.9138/-
Daily Return
15.65%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

April current account deficit posts 88 percent increase
The country's current account deficit posted an increase of 88 percent in April as compared to March due to slowdown in current transfers and dismal export growth. The country's current account balance was presenting significant improvement after the International Monetary Fund (IMF) stand-by loan facility of 7.6 billion dollars in November 2008. However, again it has posted a big increase in April 2009 more... (BR)

Money supply up 176bps
Money supply growth soared by a whopping 176 basis points over the week ending May 9, as currency in circulation increased amid higher deposits and persistently rising government borrowing from the central bank more... (FD)

Pepsi to keep up $1.8 billion investment in Pakistan
Pepsi-Cola International Limited (PCIL) will continue with its $1800 million annual investment in Pakistan as it sees a "huge potential" for long-term investment. Andy Nichol, Senior Vice President and Chief Financial Officer of PCIL for Asia, Middle East and African Division, in an exclusive interview here on Monday told Business Recorder more...

Pakistan not using US funds to buy nuclear arms: Mullen
Pakistan is not using US military assistance to expand its nuclear arsenal, the chairman of the US Joint Chiefs of Staff, Admiral Mike Mullen, said on Monday. "I am not aware of any US aid that's gone towards nuclear weapons," Mullen told a gathering at the Brookings Institution, a Washington think-tank more... (BR)

Drone attacks to continue in Pakistan:
CIA chief Leon Panetta defended US drone strikes, saying they minimised civilian casualties and were remarkably effective more... (D)

APC endorses Swat operation
Majority of the leaders have endorsed the govt's decision to launch the military operation after exhausting all options more... (D)

sector Briefing

Government may reduce SSGC tariff by Rs 28 per mmbtu
The government is likely to reduce gas tariff by Rs 28 per mmbtu from July 2009 for the consumers of Sui Southern Gas Company Limited (SSGC). According to sources, the Petroleum Ministry has received the decision from Oil and Gas Regulatory Authority (Ogra) on the petition filed by SSGC more... (BR)

Islamic banks' move for KIBOR alternative method
Islamic banks have initiated a research to evolve an alternative method in place of Karachi Inter Bank Offer Rates (KIBOR), Chief Executive Officer (CEO), Meezan Bank, Irfan Siddiqui informed the business community on Monday. Replying to a question at the fifth meeting of Banking and Insurance Sub-Committee of Karachi Chamber of Commerce and Industry (KCCI), he said that three meetings were held in this regard, but have not finalises details more... (BR)

ECC may levy 15 percent regulatory duty on three steel products import
The Economic Co-ordination Committee (ECC) of the Cabinet, which is schedule to meet on Tuesday, is expected to levy 15 percent regulatory duty (RD) on hot rolled, cold rolled and galvanised steel products, on temporary basis, to rescue Pakistan Steel Mills (PSM) in financial crisis, sources close to Secretary Industries told Business Recorder more...

 
(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