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January 13 , 2010
Statistics
KSE-100 Index
Previous Index 9,797.00
Current Index 9,778.36
Change % (0.19)%
YTD (CY10) 4.20%
YTD (FY10) 36.50%

International Indicators
  Close %age
BSE-30 17,422.51 (0.59)%
HANGSENG 22,326.64 (0.38)%
NIKKEI 255 10,879.14 0.80%
FTSE 5,498.71 (0.70)%
DJIA 10,627.26 (0.34)%
SSEC 3,273.97 1.91%
NASDAQ 2,282.31 (1.30)%

SCRA
Jan 11, 2010 (2.22)
January, 2010 7.22
YTD 277.22

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 12.35%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 123.70
Rs/UK 136.53
Rs/US 84.93
Rs/OR 216.46

Commodities
Oil $80.03/barrel
Oil Change in % (0.94)%
Gold $1,129.60/ounce
Gold Change in % 0.02%

Inflation
CPI Gen. - YoY (Dec 09) 10.50%
CPI Gen. - FY10 (Jul -Dec 09) 10.30%
NFNE Core INFL - YoY (Dec 09) 10.70%
NFNE Core INFL - FY10 (Jul-Dec 09) 11.80%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Jan 02, 2010) 15.03bn
Trade Balance (Jul-Dec 09) $(6.80)bn
Curr. A/C (Jul-Nov- 09) $(1.36)bn
Remittances (Jul -Dec 09) $4.53bn
Foreign Investment (Jul -Nov-09) $1.09bn
All Sch. Banks Deposit Base (Jan 02, 2010) Rs4,416bn

NAVs and Returns
as of Jan 12, 2010
Funds Offer Redemption
POBOP 47.8918/- 47.4129/-
Daily Return 9.76%
POAIIF 49.9331/- 49.4338/-
Daily Return 7.74%
POAIF 53.29/- 51.96/-
Daily Return (21.06)%
POASF 57.82/- 56.37/-
Daily Return (25.88)%
POAF 10.6296/-
Daily Return (3.04)%
*Daily Returns are calculated as per MUFAP guidelines

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

Real GDP growth likely 3.3 percent
The real gross domestic product (GDP) growth in the current (2009-10) fiscal year (FY10) is likely to be around the annual target of 3.3 percent. However, inflation, import, export and fiscal deficit targets are difficult to achieve during the current fiscal year more... (BR)

'Inflationary pressure growing again'
Inflationary pressure is again growing in the economy, and continued fiscal stimulus could complement an expected rise in imported inflation, raising the risk of resurgence in domestic prices, says State Bank's First Quarterly Report. According to the Report, released on Tuesday, Consumer Price Index inflation is likely to remain higher than the annual target of 9.0 percent for the year more... (BR)

IMF plan targets may not be met
The State Bank of Pakistan on Tuesday said that quarterly targets of IMF's Stand-By Arrangements (SBA) may not be achieved due to huge expenditures on defence and rehabilitation of internally displaced people. According to SBP's First Quarterly Report on the State of the Economy for FY10, the government would try to achieve the quarterly SBA targets for the budget deficit more... (BR)

Politics

PM seeks coalition partners' support for Zardari
Prime Minister Yousuf Raza Gilani sought on Tuesday the support of coalition partners for President Asif Ali Zardari and said the government more... (D)

Musharraf invites leaders to Dubai
Former President General (Retd) Pervez Musharraf has made telephonic contacts with heads of some political parties and invited them to come to Dubai. According to a private TV channel, the former president invited some political leaders to visit Dubai to discuss and consult with these leaders on his future strategy more... (FD)

Conspirators want riots in Karachi: Altaf
MQM Chief Altaf Hussain has warned that a conspiracy is being hatched to trigger riots in Karachi, adding the conspirators are also instigating the Balochs against MQM. Terming the Balochs as brothers, he said that he was only against the criminal elements present among them, private news channel reported more... (FD)

Sector Briefing

OGDCL resumes exploration activities at Uch Gasfield
The Oil & Gas Development Company Limited (OGDCL) has restarted exploration activities at Uch Gasfield, which was stopped 17 days ago due to certain demands raised by the Bugti tribes, settled after a dialogue with Nawab Meer Aali Bugti, here at Dera Bugti more... (BR)

CCP for allowing import of both used & new cars
The Competition Commission of Pakistan (CCP) has recommended to the government to allow imports of both new and used cars to promote competition in the automobile industry. During the session on automobile industry on the second day of the National Conference on Competition Regime in Pakistan, organised by the CCP here on Tuesday, Ahmed Qadir of CCP gave a detailed presentation on 'Automobile sector in Pakistan' more... (BR)

Kapco, Pepco at a row over load dispatches
Kot Addu Power Company (Kapco) and cash-strapped Pakistan Electric Power Company (Pepco) are in a serious row over load dispatches and proposed penalty on the former, well-informed sources in PPIB told Business Recorder. Kapco is the largest power generating unit with a nameplate capacity of 1600 MW 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

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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.