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LOGO
August 13, 2009
Statistics
KSE-100 Index
Previous Index
8,044.50
Current Index
8058.46
Change %
0.17%
YTD (CY09)
40.07%
YTD (FY10)
10.83%

International Indicators
 
Close
Percentage
BSE-30
15,020.16
(0.36)%
HANGSENG
20,435.24
(3.03)%
NIKKEI 255
10,435.00
(1.42)%
FTSE
4,716.80
0.97%
DJIA
9,361.61
1.30%
SSEC
3,264.73
0.46%
NASDAQ
1,998.72
1.47%

S.C.R.A
Aug 11, 2009
1.203
Aug 2009
11.143
YTD
16.110

Money Market Updates
Tbill (6 months) Jul 15, 09
11.38%
Tbill (12 months) Jul 15, 09
12.16%
KIBOR (3 months) Jul 15, 09
12.19%
KIBOR (6 months) Jul 15, 09
12.19%
PIB (10 years) Jul 15, 09
12.04%

Exchange Rates
Rs/EURO
117.27
Rs/UK
136.71
Rs/US
82.98
Rs/OMAN RIYAL
214.08
   

Commodities
Oil
$70.77/barrel
Oil Change in %
1.93%
Gold
$952.30/ounce
Gold Change in %
0.25%

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
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.15mn
US$ Reserves (Aug 01, 09)
11.72bn
Trade Deficit (Jul 09)
$(1.15)bn
Curr. A/C (Jul 08-Jun 09)
$(8.86)bn
Remittances (Jul 09)
$747.22mn
Foreign Investment (Jul 08-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (Aug 08, 09)
Rs.4,114mn

Daily Returns and NAVs
as of Aug 12, 2009
 
Offer
Redemption
POBOP
51.5063/-
50.9912/-
Daily Return
10.46%
POAIIF
52.3345/-
51.8112/-
Daily Return
7.22%
POAIF
54.16/-
52.81/-
Daily Return
55.38%
POASF
54.31/-
52.95/-
Daily Return
(48.19)%
POAF
11.10/-
Daily Return
12.76%
* Daily Returns are calculated as per MUFAP guidelines

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

IMF’s $1.2bn reaches State Bank of Pakistan (SBP) vault
State Bank of Pakistan (SBP) confirmed Wednesday that it has received the third tranche worth $1.2 billion from the International Monetary Fund (IMF). "We have received $1.2 billion from the IMF," Syed Wasimuddin, chief spokesman of the State Bank of Pakistan told media. more... (FD)

M2 contracts 1.25pc in 1MFY10
Money supply (M2) in the country contracted by 1.25 per cent or Rs64,135 million during the period from July 1, 2009 to August 1, 2009 (1MFY10) as compared to 2.78 per cent reduction in the same period last year. more... (FD)

Hopes for big rate cut fadeT-bill cut-off yield jumps 70bps in two auctions
State Bank of Pakistan (SBP) surprisingly increased the yield on 12-month T-bill yet again Wednesday, hence sinking hopes of a substantial rate cut in the monetary policy to be announced Saturday. more... (FD)

Relief under NRO: CJP urged to form larger bench
A two-member bench of the apex court on Wednesday proposed to Chief Justice Iftikhar Muhammad Chaudhry to constitute a larger bench to evaluate and ascertain the criterion for extending relief under the National Reconciliation Ordinance (NRO). The bench, comprising Justice Mian Shakirullh Jan and Justice Raja Fayyaz Ahmed, proposed to the Chief Justice to constitute larger bench, particularly to examine Section 7 of the ordinance. more... (BR)

President okays Frontier Crime Regulation (FCR) amendments
President Asif Ali Zardari endorsed Wednesday changes in the Frontier Crime Regulation (FCR) and political reforms in the tribal areas. The decision was taken in a high-level meeting headed jointly by President Zardari and Prime Minister Syed Yousuf Raza Gilani at the Presidency here. more... (FD)

Iran-Pakistan gas-line in jeopardy: Iran
The Iran-Pakistan gas pipeline project has fallen in the bracket of uncertainty as Islamabad has shown little interest owing mainly to US pressure, experts say. But, Iranian side is still hopeful of Pakistan going on with the project. more... (FD)

GoP-Etisalat dispute: Prime Minister constitutes ministerial committee
Committee to resolve the dispute between the GoP and Etisalat International with management control after purchase of 26 percent shares of Class B shares in Pakistan Telecommunication Company Limited (PTCL) on issuance of Long Distance International (LDI) licence to China Mobile Pakistan and proposed 3G spectrum auction plan, official sources told Business Recorder. more... (BR)

Sector Briefing

Textile policy sets $25bn export target
A five-year textile policy unveiled on Wednesday offers about Rs87 billion cash subsidy to the textile and clothing sector to boost exports. It envisages plans to boost textile exports to $25 billion from the current $17.8 billion by 2014. more... (D)

Oil & Gas Development Company Limited (OGDCL) profits may surge 15pcFY09
The after-tax earning of Oil & Gas Development Company Limited (OGDCL) - country's top energy firm - is likely to show a growth of 15 per cent to Rs57.03 billion (EPS: Rs13.26) for the period ended June 30, 2009 (FY09), an. more... (FD)

OGDC discovers gas at Reti-1A
The Oil and Gas Development Company Limited (OGDCL) has made a tiny-sized discovery of gas from its Exploratory Well Reti #1-A. The well is located in district Ghotki of Sindh province. Guddu joint venture is comprised of OGDCL, IPRTOC and Government Holdings (Pvt) Ltd, having 70 per cent, 25 per cent and 5 per cent working interest respectively, according to the notice issued by the OGDC to KSE. more... (FD)

Pakistan State Oil (PSO) suffers Rs6.7bn FY09 loss
The oil marketing giant, Pakistan State Oil (PSO) announced its financial results for July-June period (FY09) Wednesday posting Rs6.7 billion loss after tax (LPS: Rs39.05) as against Rs14.05 billion profit after tax (EPS: Rs81.94) of corresponding year.more... (FD)

MCB-RBS deal signed
The MCB Bank Limited has announced the signing of agreements whereby it would acquire 99.37 percent of the ordinary share capital in 'The Royal Bank of Scotland Limited' (RBS, and formerly ABN Amro (Pakistan) Limited) from its major shareholder and sponsor ABN Amro Bank NV, a subsidiary of The Royal Bank of Scotland Group plc. more... (BR)

Cement prices slashed by Rs15-20/50kg
Cement companies have cut prices by Rs 15 to 20 per 50kg bag. According to details, different companies persist in the northern region of the country have cut down the prices of 50kg bag by Rs15, and the new price per bag in the northern region of the country is hovering around Rs325-330 per bag. more... (FD)

(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
Majid Butt
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