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September 17, 2009
Statistics
KSE-100 Index
Previous Index 9,029.45
Current Index 9,137.06
Change % 1.19%
YTD (CY09) 55.80%
YTD (FY10) 27.60%

International Indicators
  Close %age
BSE-30 16,677.04 1.35%
HANGSENG 21,402.92 2.57%
NIKKEI 255 10,270.77 0.50%
FTSE 5,124.13 1.60%
DJIA 9,791.71 1.12%
SSEC 2,999.71 (1.12)%
NASDAQ 2,133.15 1.45%

SCRA
Sept 14, 2009 13.250
Sept 2009 124.938
YTD 195.988

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.60%
6m KIBOR 12.66%
10 yrs PIB 12.51%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 121.52
Rs/UK 136.46
Rs/US 82.85
Rs/OR 215.81

Commodities
Oil $72.23/barrel
Oil Change in % (0.39)%
Gold $1,019.90/ounce
Gold Change in % (0.03)%

Inflation
CPI Gen. - YoY (Aug 09) 10.70%
CPI Gen. - FY10 (Jul -Aug 09) 10.90%
NFNE Core INFL - YoY (Aug 09) 12.60%
NFNE Core INFL - FY10 (Jul-Aug 09) 13.30%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.34mn
US$ Reserves (Sep 05, 2009) 14.24bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Jul 09) $(606)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul 09) $195.6mn
All Sch. Banks Deposit Base (Sep 12, 2009) Rs.4,125bn

NAVs and Returns
as of Sept 16, 2009
Funds Offer Redemption
POBOP 51.9548/- 51.4353/-
Daily Return 8.66%
POAIIF 52.6363/- 52.1099/-
Daily Return 7.71%
POAIF 55.44/- 54.05/-
Daily Return 244.74%
POASF 55.98/- 54.58/-
Daily Return 181.46%
POAF 11.1100/-
Daily Return 68.66%
*Daily Returns are calculated as per MUFAP guidelines

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

Saudi Arabia to give $300 million in a couple of days
Saudi Arabia has finalised arrangements to disburse $300 million, within a couple of days, out of total $700 million pledged during the Tokyo donor conference, Business Recorder has learnt. Out of the $300 million, $200 million has been earmarked for budgetary support and $100 million for import of urea, sources said more... (BR)

Poured $3bn into Pakistan since Zardari election: USTareen says knows only about $970mn
US Ambassador to Pakistan, Anne W Patterson said Wednesday that the US government will continue to deliver assistance to Pakistan through a variety of long-standing vectors as required by American law more... (FD)

Gold hits fresh high
Gold prices on Wednesday marked another historic high of Rs 31,050 per tola going up by Rs 500 from Rs 30,550 on the local market, traders said. Price of the precious metal also hit a new peak of Rs 26,614 per 10 grams from Rs 26,185 per 10 grams to post a rise of Rs 429 in a single day trading. On the global market, gold price shot up to $1016.50 per ounce from $998, increasing by $18.5 more... (BR)

Politics

Safe passage to Musharraf: PML-N submits motion against Zardari in National Assembly
The Pakistan Muslim League (Nawaz) on Wednesday submitted a privilege motion in the National Assembly against President Asif Ali Zardari's statement on giving safe passage to the former President General Pervez Musharraf (Retd). As many as 91 members of the National Assembly (MNAs) of PML-N have signed the privilege motion, submitted to the National Assembly Secretariat by Hanif Abbasi, Dr Tariq Fazal and Anjum Aqeel of PML-N more... (BR)

Gilani convenes inter-provincial meeting today
Prime Minister Syed Yousuf Raza Gilani has summoned an emergency inter-provincial meeting on Thursday (today) in Islamabad on the insistence of Sindh and Balochistan governments after Punjab refused to lift ban on inter-provincial movement of sugar, well-informed sources told Business Recorder more...

Obama sets Afghanistan and Pakistan objectives
The Obama administration has set objectives for countering al Qaeda in Pakistan and Afghanistan, from boosting Islamabad's counterinsurgency capabilities to building up Afghan security forces so US assistance can be reduced, according to an internal document obtained by Reuters on Wednesday more... (BR)

Sector Briefing

Rs 85 billion TFCs issue: government and banks ink formal agreement
A formal agreement between the government of Pakistan and banks was singed here on Wednesday for the issue of Rs 85 billion Term Deposit Certificates (TFCs) to eliminate circular debt, sources said. They said as per the agreement Rs 85 billion financing would be provided to the government for eliminating circular debt, out of which some Rs 82 billion would be arranged through issue of TFCs to banks and DFIs, while Rs 3 billion commitment has been made by the State Bank of Pakistan more... (BR)

KESC's right shares issue further delayed
The issue of right shares of Karachi Electric Supply Corporation (KESC) has been further delayed by two weeks. In this regard, the Karachi Stock Exchange has approved yet another revised schedule for the extension in time in the last date of payment/renunciation of 31% right shares up to October 5. According to KSE on Wednesday, the utility company had sought an extension in the schedule by two weeks more... (BR)

PSO and Pepco sign fuel supply agreement
The Pakistan State Oil (PSO) and the Northern Power Generation Company Limited (NPGCL), a subsidiary company of the Pakistan Electric Power Company (Private) Limited (Pepco), have signed a Fuel Supply Agreement (FSA) for fulfilling furnace oil and HSD requirements of all power stations of NPGCL 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
  Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
  Faiz Malik
Database Manager

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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.