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October 16, 2009
Statistics
KSE-100 Index
Previous Index 9,804.61
Current Index 9,845.74
Change % 0.42%
YTD (CY09) 67.90%
YTD (FY10) 37.50%

International Indicators
  Close %age
BSE-30 17,195.20 (0.21)%
HANGSENG 21,999.08 0.51%
NIKKEI 255 10,238.65 1.80%
FTSE 5,222.95 (0.60)%
DJIA 10,062.94 0.47%
SSEC 2,979.79 0.31%
NASDAQ 2,173.29 0.05%

SCRA
Oct 14 , 2009 (0.532)
Oct, 2009 55.913
YTD 280.714

Money Market Updates
6m T-bill (Oct 07, 2009) 12.59%
12m T-bill (Oct 07, 2009) 12.61%
3m KIBOR 12.62%
6m KIBOR 12.66%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.52
Rs/UK 133.66
Rs/US 83.32
Rs/OR 217.23

Commodities
Oil $78.00/barrel
Oil Change in % 0.54%
Gold $1,051.70/ounce
Gold Change in % 0.10%

Inflation
CPI Gen. - YoY (Sep 09) 10.10%
CPI Gen. - FY10 (Jul -Sep 09) 10.70%
NFNE Core INFL - YoY (Sep 09) 11.90%
NFNE Core INFL - FY10 (Jul-Sep 09) 12.90%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Oct 10, 2009) 14.46bn
Trade Deficit (Sep 09) $(3.09)bn
Curr. A/C (Aug 09) $(527)mn
Remittances (Jul -Sep 09) $2.33bn
Foreign Investment (Jul -Aug-09) $412.2mn
All Sch. Banks Deposit Base (Oct 10, 2009) Rs4,133bn

NAVs and Returns
as of Oct 15, 2009
Funds Offer Redemption
POBOP 51.2927/- 50.7798/-
Daily Return 39.01%
POAIIF 52.8803/- 52.3515/-
Daily Return 8.35%
POAIF 56.13/- 54.73/-
Daily Return 241.68%
POASF 56.76/- 55.34/-
Daily Return 172.29%
POAF 10.3075/-
Daily Return 37.07%
*Daily Returns are calculated as per MUFAP guidelines

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

Remittances rise to $800 million per month: Tarin
The finance minister also said that foreign investment was flowing into various sectors despite the security situation more... (D)

Rate cut tied with aid inflows FoDP to provide $1.7bn by June 2010: Raza
Governor State Bank of Pakistan (SBP) Salim Raza has warned that delay in foreign aid inflow may bind the central bank's hands to cut the discount rate further. The indicators are suggesting further cut in discount rate, but many of the decisions are in one way or the other linked with external assistance, most important being the budgetary support more... (FD)

Foreign Direct Investment falls by 58pc in first quarter
The FDI fell to $463 million during the first quarter against $1.116 billion during the same period last year more... (D)

Politics

Obama signs aid bill into law
President Barack Obama Thursday signed $7.5 billion Kerry-Lugar-Berman Bill into a law, with the White House reaffirming strategic partnership with Pakistan, a day after Congress attached an explanatory statement to address the South Asian anti-terrorism ally's concerns over parts of the legislation more... (BR)

Obama 'concerned' over attacks
US President Barack Obama is concerned over the loss of life in new militant attacks in Pakistan, the White House said Thursday, adding the strikes underscored the threat from extremists. "The president is always concerned when there's a loss of innocent civilian life," said White House deputy spokesman Bill Burton as Obama flew to New Orleans on Air Force One more... (BR)

NRO to be presented in National Assembly today: Babar Awan
Federal Minister for Parliamentary Affairs Babar Awan on Thursday said that the government has decided in principle to present National Reconciliation Ordinance (NRO) in National Assembly (NA) for debate. Talking to reporters outside the National Assembly, Awan said the government would table the ordinance in National Assembly on Friday (today). "The NRO will be presented in National Assembly tomorrow in compliance with the orders of Supreme Court of Pakistan," Baber Awan said more... (BR)

Sector Briefing

Textile industry to get subsidised furnace oil: gas on rotational basis during winter
The government will provide subsidised furnace oil to the textile industry for three months and divide textile industry into different zones to provide gas on rotational basis this winter, well placed sources told Business Recorder on Thursday. The government assured the textile industry that it would provide surplus furnace oil for the captive power plants (CPPs) during the peak winter months more... (BR)

Al-Zamin entities being merged to form investment bank
Al-Zamin Leasing Modaraba and Al-Zamin Leasing Corporation are merging into Invest Capital Investment (ICI) Bank Limited to create a larger entity. According to a press release issued here on Thursday, the shareholders of all the three entities unanimously approved the scheme of arrangement and the merger plans last week more... (BR)

Pakistan and Iran agree to expedite gas pipeline project
Prime Minister Yousuf Raza Gilani and Iran's First Vice President M. R. Rahimi met here and agreed to expedite Iran-Pakistan gas pipeline project. The two leaders, who are in the Chinese capital to attend the summit of Shanghai Co-operation Organisation, discussed ways and means to strengthen their mutual relationship for the benefit of the two nations 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.