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August 11, 2009
Statistics
KSE-100 Index
Previous Index
7,872.23
Current Index
8,082.06
Change %
2.67%
YTD (CY09)
40.48%
YTD (FY10)
11.16%

International Indicators
 
Close
Percentage
BSE-30
15,009.77
(0.99)%
HANGSENG
20,929.52
2.72%
NIKKEI 255
10,524.26
1.08%
FTSE
4,722.20
(0.20)%
DJIA
9,337.95
(0.34)%
SSEC
3,260.69
0.00%
NASDAQ
1,992.24
(0.40)%

S.C.R.A
Aug 07, 2009
5.985
Aug 2009
6.971
YTD
11.878

Money Market Updates
Tbill (6 months)
11.38%
Tbill (12 months)
11.75%
KIBOR (3 months)
12.09%
KIBOR (6 months)
12.10%
PIB (10 years)
11.97%

Exchange Rates
Rs/EURO
118.04
Rs/UK
138.89
Rs/US
83.17
Rs/OMAN RIYAL
213.73
   

Commodities
Oil
$70.73/barrel
Oil Change in %
(0.17)%
Gold
$948.60/ounce
Gold Change in %
(0.88)%

Inflation
CPI Gen. Jun 09 (YOY)
13.10%
CPI Gen. (Jul 08-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul 08-Jun 09)
17.60%

Economic Indicators
US$ Reserves
11.72bn
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.13mn
Trade Deficit (Jul 08-Jun 09)
$(17.04)bn
Curr. A/C (Jul 08-Jun 09)
$(8.86)bn
Remittances (Jul 08-Jun 09)
$7.81bn
Foreign Investment (Jul 08-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (Aug 01, 09)
Rs.4,153mn

Daily Returns and NAVs
as of Aug 10, 2009
 
Offer
Redemption
POBOP
51.4790/-
50.9642/-
Daily Return
6.85%
POAIIF
52.3144/-
51.7913/-
Daily Return
7.08%
POAIF
54.09/-
52.74/-
Daily Return
62.50%
POASF
54.44/-
53.08/-
Daily Return
96.78%
POAF
11.09/-
Daily Return
23.49%
* Daily Returns are calculated as per MUFAP guidelines

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

Inflation down at 19-mth lowWay paved for SBP policy rate cut
Country's latest inflation figures, calculated through Consumer Price Index (CPI), have plunged down to 19 months lowest level that gives State Bank of Pakistan (SBP) - due to announce on Saturday-- an ample opportunity to cut its key discount rate. more... (FD)

Foreign liabilities at record $52.83bn
Foreign debt servicing increased by 45.2pc in FY09
Country's total foreign debt and liabilities have hiked by $6.67 billion to $52.83 billion in the Financial Year 2008-09 as against $46.16 billion recorded in FY08. more... (FD)

No LoI signed for additional $3.23 billion: Tarin
The government has not signed a Letter of Intent (LoI) with the International Monetary Fund (IMF) for additional 3.23 billion dollars package, Minister for Finance Shaukat Tarin told Business Recorder on Monday. He said that same conditions would continue to apply as were in the LoI submitted to the Fund Board as a prerequisite to the $7.6 billion dollar standby arrangement last year. more... (BR)

Taliban back broken: Prime Minister
90pc of Malakand has fallen to Army, Gilani informed
Gilani, Shahbaz agree to restore 1973 Constitution
Prime Minister Syed Yousuf Raza Gilani said Monday that steps taken by the government have forced the militants to flee and a visible rift has emerged in their ranks as they are now fighting each other. Addressing tribal elders in Saidu Sharif during his visit to Swat, the Prime Minister said that the government and the Army have got huge success in eliminating militants from the area, adding the government took the decision to call the Army to purge this valley of explosives and bloodshed. more... (FD)

Rehman reiterates Mehsud is dead
Federal Minister for Interior Rehman Malik on Monday said that Taliban commander Baitullah Mehsud is dead, rejecting reports coming from some circles that he is still alive. He said that Baitullah Mehsud was killed between the night of August 5-6 along-with his wife and six bodyguards. Through credible information, he added, it has been confirmed that Mehsud is dead while physical evidences are being collected to validate the claim. more... (BR)

Hakimullah challenges Rehman to prove Mehsud dead
A top Taliban commander on Monday challenged Pakistan to prove warlord Baitullah Mehsud was dead, insisting Mehsud was alive and denying reports of a deadly shooting over succession. Hakimullah Mehsud, a deputy of Pakistan's Taliban chieftain Baitullah Mehsud, whom Pakistan believes killed in a US drone attack, made the comments in a telephone call to AFP. more... (BR)

Sector Briefing

MCB Bank to pay $90 million for RBS Pakistan
Pakistan's largest bank, MCB Bank, will pay around $90 million to acquire the local operations of the Royal Bank of Scotland, a source with direct knowledge of the deal said on Monday. The Pakistan sale is part of moves by part-nationalised RBS to sell assets globally as it tries to exit up to 36 countries and focus on its mainly UK core businesses. more... (BR)

Pakistan State Oil (PSO) may witness Rs7.47bn FY09 loss
Profit could surge by 130pc QoQ
Pakistan State Oil (PSO), country's largest oil marketing company, is scheduled to announce its result Wednesday (tomorrow) for the fiscal year 2008-09 (FY09). more... (FD)

Modest gas reserves found in Maramzai-l
Hungarian oil and gas firm, MOL has made a modest-sized discovery of gas and condensate from its Maramzai Well No 1 at Tal block. The block is situated in the NWFP province. more... (FD)

Furnace oil pricing by Ogra: ECC to reconsider twice rejected issue today
The Economic Co-ordination Committee (ECC) of the Cabinet, scheduled to meet on Tuesday, will reconsider, for the third time, a Petroleum Ministry proposal regarding handing over responsibility of furnace oil pricing and monitoring to the Oil and Gas Regulatory Authority (Ogra), official sources told Business Recorder. more... (BR)

(BR): Business Recorder, (D): Dawn, (N) The News, (DT) Daily Times, (FD): The Financial Daily
Research Team:
Shoaib Ali Khan
Department Head
Shayan Hasan
Research Analyst
Salman Kazmi
Research Analyst
Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
Faiz Malik
Database Manager
Separator
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