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Thursday, Nov 20 2008
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Wall Street nosedives to lowest since 2003 - US Stocks Update     Oil falls to 22-month low on demand, stock build     Halliburton CEO says capex, hiring under review     JPMorgan, Citigroup, BofA hit multiyear lows     Boeing defense unit to cut 800 jobs     Buffett's Berkshire Hathaway feels the brunt of recent financial crisis     Schwab outflanks smaller rivals for new advisers     Citigroup stock drops to 13-year low, fear grows     Fed signals ready to cut rates amid glum outlook     Consumer prices, home starts plunge in October     US prosecutors investigate Wachovia     Pakistan to participate in 'Saarc Embroidery Contest ‘08'     NCGC spends 'Rs20.4mn' to promote chemical sciences     Committee finalises recommendations - Reinstatement of sacked workers to cost Rs3.3bn     Iran has enough low-enriched uranium to make one atom bomb     GM plans 2-mth shutdown at Thai plant, job cuts     Stocks hit 5-½ yr lows on economic fears     Japan exports to Asia fall, shares plunge     Pakistani general calls for halt to missile strikes     Fed sees economic woes persisting into next year     Massive EU online library looks to compete with Google     Indonesia orders energy companies to bank locally     Bush seeks APEC summit for G20 crisis moves     Peru and China conclude talks for free-trade pact     Asia-Pacific nations tackle economic crisis     Wall Street sinks to lowest since 2003     Pakistan, Malaysia vow to enhance defence relations     Tokyo stocks plunge 6.89 percent by close     Japan says missile defence test fails     US seeks 300 billion dlrs from Gulf states: report     Rs. 43.29 bln disbursed among quake-victims so far: DG SERRA     No cut in social sector expenditures: Salman Faruqui
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Market KSE 100
Index
All Share
Index
KSE 30
Index
Status Open Current 9184.09 Current 6639.55 Current 9981.93
Volume 13,668.00 High 9184.09 High 6639.56 High 9981.93
Value 600 Low 9184.09 Low 6639.51 Low 9981.93
Previous Index 9184.09 Change 0.00   Change  0.04 Change 0.00
MAIN STORY
Industrial Relations Bill ‘08 in, IRO 2002 out
PPP government to institutionalise democracy: PM
ISLAMABAD: National Assembly on Wednesday passed the Industrial Relations Bill 2008 restoring Industrial Relations Law of 1969. With the passage of the Bill anti-labour IRO 2002 has been abolished automatically. ...
  Mutual Fund
TOP STORIES
    
Cabinet seconds IMF facility
ISLAMABAD: Federal Cabinet Wednesday endorsed $7.6 billion IMF bailout for Pakistan in a meeting with Prime Minister Yousuf Raza Gilani in chair. The meeting was held at Prime Minister Secretariat in Islamabad ...

Kayani asks Nato to put a full stop on drone assaults
BRUSSELS: The Chief of Army Staff (COAS), General Ashfaq Parvez Kayani has urged Nato to halt Unmanned Combat Aerial Vehicle (UCAV) attacks within Pakistani territory. Addressing Nato defence chiefs' meeting here, Kayani said he believes there is no military solution to the Afghan situation and it is necessary to understand the geo-strategic situation of Pakistan and Afghanistan. ...

N - walks out, says Bill being bulldozed
ISLAMABAD: Pakistan Muslim League (N) legislators Wednesday contended that the Industrial Relations Bill 2008 was passed in unneeded hurry and urged the government to uphold parliamentary traditions and strengthen the institutions. ...

Prior SBP approval must for opening Letter of Credits
Huma Fatima
KARACHI: The State Bank of Pakistan has advised authorised dealers to obtain central bank's approval before opening LCs for wheat import and (wheat) flour export on behalf of their clients. ...

PSDP audit decided, says economic advisor
ISLAMABAD: Advisor to Prime Minister on Finance and Economic Affairs said Wednesday that government would have all Public Sector Development Programme (PSDP) projects audited.
The audit would be done by internationally recognised agencies to streamline expenditure and rationalise the development projects, he said while addressing the Development Partners, during a consultative workshop pertaining to Draft Poverty Reduction Strategy Paper-II. ...

PIA likely to jettison 5,000 employees
Airline to pledge 2 hotels to raise funds
Monitoring Desk
KARACHI: Flagship carrier Pakistan International Airlines Corp which is trapped in a financial air-pocket plans to generate Rs30 billion ($379 million) by pledging two hotels. Moreover at least 5000 jobs would also be jettisoned, reported a foreign news channel. ...

Predator fire puts 4 to death in Bannu
PESHAWAR: A suspected unmanned Predator aircraft fired two missiles at a house in country's northwestern tribal areas on Wednesday, killing at least 4 suspected foreign militants, intelligence officers and a government official said. ...

Petrol pumps go on strike in big cities
No credit card transactions under Rs1,000: PPDA chief
Kashif Munir
KARACHI: Petroleum dealers staged an emergency strike in the major cities of country Wednesday night. The pumps were shut down and citizens are running from pillar to post in search of petrol. ...

Indians took keen interest in BISP: Farzana Raja - News Briefing
NEW DELHI: Farzana Raja, Chairperson of  Benazir Income Support programme said here tonight that India has  taken keen interest in the programme, which will benefit 3.5mn people belonging to low income group. She said useful discussion was held with Indian side on economic programmes initiated by both countries for the benefit of the people. ...

Bangladesh government to push ahead with December 18 election - News Briefing
DHAKA:Bangladesh's  army-backed government said Wednesday it would not change the date for next month's elections despite a threat from a major political force to boycott polls unless they were delayed.


Indicators
Economic Indicators 
Indicator  Value 
GDP Growth FY08 5.8%
Per Capita Income FY08 $1,085
Population 164.89mn
Forex Reserves
(13-Nov-08)
$6.74bn
Inflation CPI %
(Jul-Oct 08)
24.64%
Exports
(Jul-Oct 08)
$6.76bn
Imports
(Jul-Oct 08)
$14.29bn
Trade Deficit
(Jul-Oct 08)
$(7.52)bn
Current A/C
(Jul-Oct 08)
$(5.94)bn
Remittances
(Jul-Oct 08)
$2.35bn
Foreign Invest
(Jul-Oct 08)
$1.15bn
Revenue
(Jul-Oct 08)
Rs 350bn
Foreign Debt (30-09-08) $45.54bn
Domestic Debt (Sep 08) Rs 3,466bn
Repatriated Profit (Jul-Sep 08) $222.7mn
   
Portfolio Investment 
SCRA (US $ in mn)  Value 
Yearly
(Jul, 2008
up to Nov-18-2008)
-256.25
Monthly
(Nov, 2008
up to Nov 18)
-4.22
Net Sell (18-Nov-2008) -2.00
Total Portfolio Investment(08-Nov-08) 2199
   
GDR Update US $  
Symbols  C.Price  PKR/Shares 
MCB
(1 GDR= 2 shares)
6.30 250.21
OGDC
(1 GDR = 10 shares)
9.50 75.46
UBL (1 GDR= 4 Shares) 2.00 39.72
HUBC
(1 GDR = 25 shares)
6.56 20.84
     
Money Market Update 
     
T-Bills (3 months) 19-Nov 13.69%
T-Bills (6 months) 19-Nov 14.01%
T-Bills (12 months) 19-Nov </