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November 25, 2009
Statistics
KSE-100 Index
Previous Index 9,221.96
Current Index 9,233.70
Change % 0.13%
YTD (CY09) 57.40%
YTD (FY10) 28.90%

International Indicators
  Close %age
BSE-30 17,131.08 (0.29)%
HANGSENG 22,423.14 (1.53)%
NIKKEI 255 9,401.58 (1.00)%
FTSE 5,323.96 (0.60)%
DJIA 10,433.71 (0.16)%
SSEC 3,223.53 (3.45)%
NASDAQ 2,169.18 (0.31)%

SCRA
Nov 18 , 2009 4.31
November, 2009 23.40
YTD 318.34

Money Market Updates
6m T-bill (Nov 18, 2009) 12.33%
12m T-bill (Nov-18, 2009) 12.22%
3m KIBOR 12.64%
6m KIBOR 12.65%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.87
Rs/UK 138.46
Rs/US 83.64
Rs/OR 217.54

Commodities
Oil $76.31/barrel
Oil Change in % 0.38%
Gold $1,178.70/ounce
Gold Change in % 0.97%

Inflation
CPI Gen. - YoY (Oct 09) 8.90%
CPI Gen. - FY10 (Jul -Oct 09) 10.20%
NFNE Core INFL - YoY (Oct 09) 11.00%
NFNE Core INFL - FY10 (Jul-Oct 09) 12.40%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Nov 14, 2009) 14.12bn
Trade Balance (Jul-Oct 09) $(4.47)bn
Curr. A/C (Jul-Oct- 09) $(1.07)bn
Remittances (Jul -Oct 09) $3.10bn
Foreign Investment (Jul -Oct-09) $910.2mn
All Sch. Banks Deposit Base (Nov 14, 2009) Rs4,206bn

NAVs and Returns
as of Nov 24, 2009
Funds Offer Redemption
POBOP 51.9580/- 51.4384/-
Daily Return 9.59%
POAIIF 53.2447/- 52.7123/-
Daily Return 2.67%
POAIF 55.75/- 54.36/-
Daily Return 6.72%
POASF 56.34/- 54.93/-
Daily Return 6.65%
POAF 10.4380/-
Daily Return 13.82%
*Daily Returns are calculated as per MUFAP guidelines

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

Policy rate cut by 50 basis points to 12.5 percent: supporting the recovering real economic activity
The State Bank of Pakistan on Monday announced cut in the key policy rate by 50 basis points (bps), to 12.5 percent, to support the recovering real economic activities, as key macroeconomic indicators already have been showing substantial improvements. However, the central bank said that overall level of risk and uncertainty in the economy had increased considerably, given the present law and order situation more... (BR)

$33 million Japanese grant for Pakistan
The aid can be used to import Japanese goods; sales proceeds go to a Counter Value fund for budgetary support more... (D)

Businessmen term cut in interest rate 'insufficient'
Businessmen have described decline in discount rate by 50 basis points from existing 13 percent to 12.5 percent announced by the State Bank of Pakistan (SBP) on Tuesday as 'insufficient' and called upon the government to bring it to single digit for economic growth in the country more... (BR)

Politics

India planning 'limited war': Pakistan
Pakistan issued on Tuesday a verbal salvo, accusing its archrival India of preparing for a "limited" war against it. "India has long been working on the so-called 'Cold Start' strategy and preparing for a limited war against Pakistan," Ministry of Foreign Affairs spokesman Abdul Basit said in response to an earlier statement by the Indian army chief more... (BR)

Obama sees Pakistan progress on extremism
US President Barack Obama said Tuesday he believed Pakistan was making progress in fighting extremism as he tried to assuage India's concerns about its historic rival. "Pakistan has an enormously important role in the security of the region by making sure that the extremist organisations that often operate out of its territories are dealt with effectively," Obama said more... (BR)

US confirms Saudi role in talks with Taliban
US Special Representative Richard Holbrooke has confirmed that the Saudis have initiated a dialogue with the Taliban more... (D)

Sector Briefing

Engro to get $50mn from IFC for business expansion
International Finance Corporation (IFC), a member of the World Bank Group, said on Tuesday it will lend $50 million to Engro Chemicals, Pakistan’s second largest urea manufacturer, to expand its dairy business more... (D)

Rs nine billion BoP loan scam: fugitive claims he paid millions to get favourable verdict
The fugitive of Rs 9 billion Bank of Punjab (BoP) loan scam, Sheikh Afzal, appeared before the apex court on Tuesday and gave a list of names who allegedly took millions of rupees to win a verdict in his favour. According to the list, Dr Babar Awan, Federal Minister, took Rs 35 million; Shairfuddin Pirzada Rs 10 million; Muhammad Qayyum, erstwhile Attorney General Rs 20 million; and Ali Waseem, son of Waseem Sajjad, took Rs 7.5 million for procuring a verdict in his favour, Afzal said more... (BR)

PSO signs contract with KPC for diesel
The new deal to be implemented in 2010 will be a significant increase over the current 3.2 to 3.3mln tonnes more... (D)

(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
Abdul Majid Butt
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.