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June 18, 2009

Statistics
KSE 100 Index
Previous Index
6,872.96
Current Index
7,075.93
Change %
2.95%
YTD (CY09)
20.60%
YTD (FY09)
(42.40)%

International Indicates
 
Close
Percentage
BSE-30
14,522.84
(2.91)%
HANGSENG
18,084.60
0.45%
NIKKEI 255
9,840.85
0.90%
FTSE
4,278.46
(1.16)%
DJI
8,509.28
0.05%
SSEC
2,810.12
1.23%
NASDAQ
1,804.57
0.47%

S.C.R.A
16-06-2009
(0.78)
June-09
(1.50)
YTD
(586.97)

Money Market Updates
Tbill Cut-off
 
1 year
13.24%
6 month
13.14%
KIBOR (3 months)
13.00%
KIBOR (6 months)
12.98%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.95
Rs/UK
132.66
Rs/EURO
112.10
Rs/OMAN RIYAL
211.26

commodities
Oil
$70.99/barrel
Oil Change in %
(0.06)%
Gold
$940.40/ounce
Gold Change in %
0.47%

Inflation
CPI Gen. May 09(YOY)
14.40%
CPI Gen. (Jul-May 09)
21.60%
NFNE Core INFL May 09 (YOY)
16.60%
NFNE Core INFL (Jul-May 09)
17.70%

Economic Indicators
US$ Reserves (Billion)
11.51
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-May 09)
$(15.22)bn
Curr. A/C (Jul-May 09)
$(8.22)bn
Remittances (Jul-May 09)
$7.08bn
Foreign Investment (Jul-May 09)
$2.22bn
All Scheduled Banks Deposit Base (June 06, 08)
Rs.4,030bn

Daily Returns and NAVs
as of June 17, 2009
 
Offer
Redemption
POBOP
50.8431/-
50.3347/-
Daily Return
(42.51)%
POASF
62.14/-
60.59/-
Daily Return
297.59%
POAIF
56.67/-
55.25/-
Daily Return
152.58%
POAIIF
55.7681/-
55.2104/-
Daily Return
8.62%
POAF
11.0125/-
Daily Return
12.82%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

One percent of export proceeds is 'maximum tax'
Exporters would be liable to pay one percent of the export proceeds as "maximum tax" under the proposed amendment in the Finance Bill (2009-10). It is learnt here on Wednesday that the exporters are subjected to one percent withholding tax under Income Tax Ordinance 2001. This tax was deemed to be full and final tax liability more... (BR)

Treasury-bills rates slashed by 100bps
The cut in T-bill rates signals that a major interest rate cut is likely at the monetary policy review next month more... (D)

Power tariff to be increased in phases
Govt announces increase in electricity tariff by at least 17pc as part of a condition in the IMF bailout package more... (D)

US House clears $106 billion war funding
The House of Representatives on Tuesday narrowly backed a 106 billion-dollar bill to pay for the US wars in Iraq and Afghanistan and extend billions in new credit to the IMF. The legislation also includes extras like vouchers to spur US car sales, and comes after a series of political battles that exposed the sharp fissures between President Barack Obama's Democrats and the Republican minority more... (BR)

Clinton urges better US-India-Pakistan cooperation
The US Secretary hoped that the Pak-India dialogue will boost security in South Asia and around the world more... (D)

EU, Pakistan to kick-start strategic talks
The European Union signalled strong support for consolidating democracy and fighting extremism in Pakistan more... (D)

sector Briefing

Value-added textile sector to get Rs 40 billion incentives: Tarin
The Advisor to Prime Minister on Finance, Shaukat Tarin, has said that the government will spend Rs 40 billion during 2009-10 financial year for providing incentives to value-added textile sector, the details of which would be given in the trade policy more... (BR)

Budget will lead to a 10 pc increase in oil prices
With the increase in global oil prices, domestic oil rates are likely to rise by more than ten per cent from the next month if the newly introduced ‘carbon tax’ is implemented. CNG prices are also expected to increase significantly more... (D)

Government plans to rename deemed duty as processing fee
After replacing petroleum development levy (PDL) with carbon surcharge on petroleum products, the government is planning to give cover to the much criticised "deemed duty" for oil refineries and rename it as "processing fee." 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