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LOGO
August 25, 2009
Statistics
KSE-100 Index
Previous Index
8,107.94
Current Index
8,287.00
Change %
2.21%
YTD (CY09)
44.05%
YTD (FY10)
13.98%

International Indicators
 
Close
Percentage
BSE-30
15,628.75
2.55%
HANGSENG
20,535.94
1.67%
NIKKEI 255
10,581.05
3.35%
FTSE
4,896.20
0.93%
DJIA
9,509.28
0.03%
SSEC
2,960.77
0.00%
NASDAQ Composite
2,017.98
(0.14)%

S.C.R.A
Aug 21, 2009
(1.137)
Aug 2009
37.245
YTD
42.212

Money Market Updates
Tbill (6 m) Jul 15, '09
11.38%
Tbill (12 m) Aug 12, '09
12.16%
KIBOR (3 m) Aug 24, '09
12.46%
KIBOR (6 m) Aug 24, '09
12.44%
PIB (10 yrs) Aug 22, '09
12.39%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO
118.89
Rs/UK
136.85
Rs/US
83.10
Rs/OR
213.83

Commodities
Oil
$73.83/barrel
Oil Change in %
(0.49)%
Gold
$946.00/ounce
Gold Change in %
(0.91)%

Inflation
CPI Gen. Jul 09 (YOY)
11.20%
CPI Gen. FY10 (Jul 09)
11.20%
NFNE Core INFL Jul 09 (YOY)
14.00%
NFNE Core INFL FY10 (Jul 09)
14.00%

Economic Indicators
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.25mn
US$ Reserves (Aug 15, 09)
12.96bn
Trade Deficit (Jul 09)
$(1.15)bn
Curr. A/C (Jul 09)
$(606)mn
Remittances (Jul 09)
$747.22mn
Foreign Investment (Jul 09)
$195.6mn
All Scheduled Banks Deposit Base (Aug 15, 2009)
Rs.4,098bn

Daily Returns and NAVs
as of Aug 24, 2009
 
Offer
Redemption
POBOP
-/-
-/-
Daily Return
0.00%
POAIIF
52.4006/-
51.8766/-
Daily Return
0.14%
POAIF
54.35/-
52.99/-
Daily Return
41.42%
POASF
54.46/-
53.10/-
Daily Return
75.93%
POAF
11.08/-
Daily Return
67.91%
* Daily Returns are calculated as per MUFAP guidelines

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

ADB evaluating feasibility of RPPs
The Asian Development Bank (ADB) is reported to be evaluating the economic feasibility of the controversial rental power plants (RPPs) which the government believes are indispensable in dealing, in the short term, with the worst ever power crisis, sources in the government and private sector told Business Recorder. more... (BR)

Non-payment of Rs 3.25 billion debt: IPP stops supply of 125 megawatts power to KESC
An Independent Power Producer (IPP) on Monday again stopped supply of at least 125 megawatts (MW) electricity to Karachi Electric Supply Company (KESC) due to non-payment of at least Rs 3.25 billion debt. According to sources, M/s Gul Ahmed Energy Limited (GAEL) stopped supply of at least 125MW electricity to the privately-run utility, as the bad-debt-hit power producer claims to run short of funds for purchasing fuel, furnace oil, to keep its power generators functional. more... (BR)

Jul agri credit up 19pc YoY
Agricultural credit disbursement by commercial and specialised banks rose 19 per cent year-on-year to Rs17.847 billion in the first month of the current fiscal year (FY10). more... (FD)

Net Foreign Assets (NFAs) go green after 2 years
Another positive trigger for national economy
Net Foreign Assets (NFAs) of the banking system have turned positive after a gap of two years as they appreciated to Rs14.2 billion as on August 15, 2009 from negative Rs87.2 billion in the same period of last year, SBP data on broad money (M2) revealed here Monday. more... (FD)

Prime Minister delinks NRO, Musharraf trial
Says wants good relations with India
Prime Minister Syed Yousuf Raza Gilani said Monday that NRO and trial of former president Pervez Musharraf are two separate issues and cannot be compared. more... (FD)

Government to ensure smooth supply of sugar at fixed price: Gilani
Prime Minister Yusuf Raza Gilani said on Monday that every step including strict action against hoarders and profiteers would be taken to ensure smooth supply of sugar at fixed price in the market. Talking to media at Chakri near Rawalpindi where he went to condole with the leader of Opposition Chaudhry Nisar Ali Khan on the demise of his brother, Gilani hoped that steps taken by the government to defuse sugar crisis would improve the situation. more... (BR)

More trade avenues, FDI top FoDP session
FoDP ministerial meeting held in Istanbul
Friends hail Pak strategy against development challenges
The first session of Ministerial Meeting of the Friends of Democratic Pakistan (FoDP) was held here Monday that focused on attracting entrepreneurs for investment in short, medium and long term projects in Pakistan. more... (FD)

Sector Briefing

S&P raises Pakistan rating to B-minus
Standard & Poor's raised Pakistan's sovereign rating by one notch to B-minus, citing improvements in its external liquidity and reduction in its fiscal deficit. The rating outlook is stable. The decision came a week after Moody's Investors Service raised its rating outlook for Pakistan to stable from negative and after the country received an increase in a loan from the International Monetary Fund (IMF). more... (BR)

Pakistan State Oil (PSO) buys oil at high premiums
Pakistan State Oil (PSO) bought 1.04 million tonnes of high-sulphur fuel oil (HSFO) for September-November delivery from Middle East oil traders FAL Oil and Bakri at higher premiums as against earlier deals, traders said Monday. more... (FD)

OGDC finds oil, gas in Sindh
The Sinjhoro Joint Venture, 76 per cent owned by the Oil and Gas Development Company (OGDC), has struck oil and gas at its Baloch Exploratory Well No.1 located in Sinjhoro Block in District Sanghar of Sindh province. more... (D)

Credit Suisse hints KSE surge
As several analysts were hinting at Karachi Stock Exchange (KSE) breaching 10,000 levels towards the year-end, Credit Suisse also joined their school of thought Monday when they stated that Pakistan's stocks may rebound owing to falling inflation numbers and tripling of foreign exchange reserves. more... (FD)

Deutsche Bank sees recovery
Pakistan's exchange rate has stabilised and its foreign exchange reserves have started to climb again, said Dr Norbert Walter, Chief Economist for Deutsche Bank Group and CEO of Deutsche Bank Research Friday. 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