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July 17, 2009

Statistics
KSE 100 Index
Previous Index
7,686.15
Current Index
7,715.42
Change %
0.38%
YTD (CY09)
34.11%
YTD (FY10)
6.11%

International Indicates
 
Close
Percentage
BSE-30
14,250.25
(0.02)%
HANGSENG
18,361.87
0.56%
NIKKEI 255
9,344.16
0.80%
FTSE
4,361.80
0.35%
DJI
8,711.82
1.10%
SSEC
3,188.55
0.00%
NASDAQ-100
1,518.87
1.19%

S.C.R.A
15-07-2009
0.812
July-09
17.90
YTD
17.90

Money Market Updates
Tbill Cut-off
 
1 year
11.47%
6 month
11.38%
KIBOR (3 months)
11.74%
KIBOR (6 months)
11.95%
PIB (10 years)
11.55%

Exchange Rates
Rs/US
82.45
Rs/UK
134.37
Rs/EURO
115.37
Rs/OMAN RIYAL
214.52

commodities
Oil
$61.64/barrel
Oil Change in %
0.24%
Gold
$937.10/ounce
Gold Change in %
0.00%

Inflation
CPI Gen. Jun 09 (YOY)
13.10%
CPI Gen. (Jul-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul-Jun 09)
15.90%

Economic Indicators
US$ Reserves (Billion)
12.24
GDP Growth FY09E
2.0%
Per Capita Income
$1,046
Population
166.92mn
Trade Deficit (Jul-Jun 09)
$(17.04)bn
Curr. A/C (Jul-Jun 09)
$(8.86)bn
Remittances (Jul-May 09)
$7.81bn
Foreign Investment (Jul-May 09)
$2.67bn
All Scheduled Banks Deposit Base (July 04, 09)
Rs.4,127bn

Daily Returns and NAVs
as of July 16, 2009
 
Offer
Redemption
POBOP
51.4111/-
50.8970/-
Daily Return
15.01%
POASF
54.02/-
52.67/-
Daily Return
13.87%
POAIF
53.29/-
51.96/-
Daily Return
(21.06)%
POAIIF
51.9000/-
51.3810/-
Daily Return
7.52%
POAF
10.9480/-
Daily Return
24.27%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Current account deficit shrank by 36 percent in 2008-09
The country's current account deficit has shrunk by 36 percent to 8.8 billion dollar in fiscal year 2008-09 mainly due to higher home remittances and sharp decline in trade deficit. The central bank on Thursday revealed that the country has posted a current account deficit of 8.861 billion dollar in fiscal year 2008-09 as compared to 13.866 billion dollar in fiscal year 2007-08, depicting a decline of 5 billion dollar more... (BR)

World Bank, ADB agree to Rs67bn power subsidy
As per the outcome of negotiations between the World Bank, the Asian Development Bank and the government, the electricity consumers would be able to avail a subsidy worth Rs67 billion during the current fiscal year more... (D)

Pak Eurobond puts up best show in Asia
Economic tide is turning in Pakistan’s favour as IMF loan has triggered a strong rally in dollar denominated Pakistan bonds in the past few months. Mohammad Sohail of Topline Securities told The Financial Daily here Thursday that the most traded Pakistan Eurobond that matures in 2016 has posted a gain of more than 75 per cent in the current calendar year making it the best performing paper among the 44 countries in JPMorgan Chase & Co's Emerging Markets EMBI Global Diversified Index more... (FD)

Stop meddling in Balochistan, Gilani tells India's Prime Minister
For the first time in the history of roller-coaster Indo-Pak relations, Pakistan took up the issue of insurgency in Balochistan with India at the highest level when Prime Minister Yusuf Raza Gilani conveyed his country's concerns to his more... (BR)

Benazir's assassination: UN body promises to complete probe by December
The United Nations commission, investigating the assassination of Pakistan Peoples Party Chairperson Benazir Bhutto has assured that they will complete the investigation by December. They held meetings with Federal Interior Minister Rehman Malik at the Interior Ministry on Thursday, and stated that they would complete their investigation and present the findings of the commission to the UN Secretary General more... (BR)

Swat IDPs crisis well handled: Mullen
The United States' top military officer on Thursday praised Pakistan's handling of the humanitarian crisis resulting from an assault on Taliban strongholds in Swat and Malakand. Admiral Mike Mullen, Chairman of the US Joint Chiefs of Staff, visited one of several camps set up to provide shelter for families among the 2 million people who fled their homes after fighting broke out in the Swat and Buner valleys more... (FD)

sector Briefing

SECP, other regulators refuse to pay three percent fee/charges to CCP
Most of the regulators including Securities and Exchange Commission of Pakistan (SECP), Oil and Gas Regulatory Authority (Ogra), Pakistan Telecommunication Authority (PTA), National Electric Power Regulatory Authority (Nepra) and Pakistan Electronic Media Regulatory Authority (Pemra) have refused to pay 3 percent fee/charges on quarterly basis to the Competition Commission of Pakistan (CCP) more... (BR)

PSO cuts furnace oil rate by Rs457/tonne
Pakistan State Oil (PSO) has slashed the price of furnace oil by Rs457 per tonne toRs39,981 for the next fifteen days from Rs40,438 per tonne witnessed on July 1n 2009. PSO has also decided to reduce imported furnace oil price by Rs681 per tonne to Rs40,112 per tonne against beginning of month prices of Rs40,793 per tonne more... (FD)

JCR-VIS maintains BoK rating at BBB Plus
Credit rating company JCR-VIS has maintained the medium and long term rating of Bank of Khyber at BBB + (triple B plus). According to JCR-VIS, the outlook on the rating is "stable" more... (FD)

 
(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