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January 05 , 2010
Statistics
KSE-100 Index
Previous Index 9,386.92
Current Index 9,437.85
Change % 0.54%
YTD (CY09) 60.00%
YTD (FY10) 31.80%

International Indicators
  Close %age
BSE-30 17,558.73 0.54%
HANGSENG 21,823.28 (0.23)%
NIKKEI 255 10,654.79 1.00%
FTSE 5,500.34 1.60%
DJIA 10,583.96 1.50%
SSEC 3,262.60 (0.44)%
NASDAQ 2,308.42 1.73%

SCRA
Dec 31 , 2009 (1.04)
December, 2009 (44.96)
YTD 270.00

Money Market Updates
6m T-bill (Dec 30, 2009) 12.10%
12m T-bill (Dec 30, 2009) 12.09%
3m KIBOR 12.28%
6m KIBOR 12.37%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 120.62
Rs/UK 135.90
Rs/US 84.53
Rs/OR 216.28

Commodities
Oil $81.71/barrel
Oil Change in % 0.25%
Gold $1,124.40/ounce
Gold Change in % 0.55%

Inflation
CPI Gen. - YoY (Nov 09) 10.50%
CPI Gen. - FY10 (Jul -Nov 09) 10.30%
NFNE Core INFL - YoY (Nov 09) 10.60%
NFNE Core INFL - FY10 (Jul-Nov 09) 12.00%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Dec 26, 2009) 13.96bn
Trade Balance (Jul-Nov 09) $(5.48)bn
Curr. A/C (Jul-Nov- 09) $(1.36)bn
Remittances (Jul -Nov 09) $3.80bn
Foreign Investment (Jul -Nov-09) $1.09bn
All Sch. Banks Deposit Base (Dec 26, 2009) Rs4,325bn

NAVs and Returns
as of Jan 04, 2010
Funds Offer Redemption
POBOP 49.1376/- 48.6462/-
Daily Return 9.51%
POAIIF 50.8206/- 50.3124/-
Daily Return 16.21%
POAIF 53.48/- 52.14/-
Daily Return 102.07%
POASF 57.11/- 55.68/-
Daily Return 79.00%
POAF 10.6244/-
Daily Return (28.32)%
*Daily Returns are calculated as per MUFAP guidelines

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

Rupee falls to record 84.57 against dollar
The rupee fell to a record low against the dollar on Monday while it already lost almost Re1 since the private sector was given sole more... (D)

A few options left: Circular debt hits Rs250bn
With inter-corporate circular debt going beyond Rs250 billion in a matter of few weeks, the government would thoroughly examine the financial more... (D)

Time for payment of remittances reduced
The State Bank on Monday reduced timelines for payment and settlement of home remittances transactions under Pakistan Remittance Initiative more... (D)

Politics

Pakistan not for arms race: Zardari
Pakistan is a peace-loving country and believes in peace with honour and does not want an arms race in the region. This was stated by the President Asif Ali Zardari here on Monday while addressing Midshipmen Commissioning and SSC Class passing out parade of Pakistan Naval Academy (PNA). However, he said "Our desire for peace must not be taken as a sign of weakness and that our armed forces are ready to meet all challenges." more... (BR)

Zardari breaks ‘siege', takes on opponents
President Asif Ali Zardari, in a serious move to dispel the impression of being a beleaguered head of state, has stepped up his public more... (D)

Nawaz says Baloch jirga to settle PPP-PML-N row
The party will accept whatever verdict the jirga gives according to Baloch traditions and on the basis of justice: PML-N chief more... (D)

Sector Briefing

RBS says deal MCB Bank lapses
State-rescued lender Royal Bank of Scotland said Monday that a deal to sell its Pakistan unit to MCB Bank for 87 million dollars (62 million euros) had lapsed. RBS had agreed in August to sell the operations to MCB in a transaction that was expected to be completed in the final quarter of 2009 - but MCB did not manage to gain regulatory approvals, the group said in a statement more... (BR)

No betterment in sight as KESC owes Rs 44 billion to Pepco: National Assembly body briefed
The power-starved national industrial hub is contributing to the economy, but no early improvement of Karachi Electric Supply Company (KESC) is in sight as it owes Rs 44 billion to Pakistan Electric Power Company (Pepco) as outstanding dues. This was stated by Pepco Managing Director Tahir Basharat Cheema, while briefing the National Assembly's Standing Committee on Government Assurances held here on Monday more... (BR)

LDI licence to China Mobile: government decides to seek Etisalat consent
The government has decided to approach Dubai-based firm Etisalat International, which owns 26 percent of the shareholdings of the Pakistan Telecommunication Company Limited (PTCL), to seek its consent for the issuance of long distance international (LDI) licence to China Mobile, sources close to Privatisation Minister told Business Recorder on Monday 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
Abdul 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.