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January 18 , 2010
Statistics
KSE-100 Index
Previous Index 9,802.45
Current Index 9,923.14
Change % 1.23%
YTD (CY10) 5.70%
YTD (FY10) 38.50%

International Indicators
  Close %age
BSE-30 17,554.30 (0.17)%
HANGSENG 21,654.16 (0.29)%
NIKKEI 255 10,982.10 0.68%
FTSE 5,455.40 (0.78)%
DJIA 10,609.65 (0.94)%
SSEC 3,224.15 0.27%
NASDAQ 2,287.99 (1.24)%

SCRA
Jan 15, 2010 (0.62)
January, 2010 12.49
YTD 282.49

Money Market Updates
6m T-bill (Jan 14, 2010) 12.05%
12m T-bill (Jan 14, 2010) 12.05%
3m KIBOR 12.24%
6m KIBOR 12.30%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 123.35
Rs/UK 138.22
Rs/US 84.88
Rs/OR 218.94

Commodities
Oil $77.74/barrel
Oil Change in % (0.33)%
Gold $1,134.60/ounce
Gold Change in % 0.36%

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 09, 2010) 15.20bn
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 -Dec-09) $1.28bn
All Sch. Banks Deposit Base (Jan 09, 2010) Rs4,351bn

NAVs and Returns
as of Jan 16, 2010
Funds Offer Redemption
POBOP 47.9406/- 47.4612/-
Daily Return 9.75%
POAIIF 49.9723/- 49.4726/-
Daily Return 7.58%
POAIF 53.61/- 52.27/-
Daily Return (6.98)%
POASF 58.42/- 56.96/-
Daily Return 0.00%
POAF 10.6132/-
Daily Return 12.02%
*Daily Returns are calculated as per MUFAP guidelines

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

IDA provided $260 million loan for BISP
The government has obtained a total of 260 million-dollar loan from the International Development Association (IDA) of the World Bank to support the Benazir Income Support Programme (BISP). According to the data available with Business Recorder, a total of 200 million-dollar loan in September, 2009 was acquired by the government from the IDA for budgetary support under "Social Safety Net Development Policy Credit (SSN DPC) more... (BR)

Drive against tax defaulters from January 25: CGT on bourses from next fiscal year: Tarin
Federal Finance Minister Shaukat Tarin on Sunday said Capital Gains Tax (CGT) would be imposed on stock markets from next fiscal year, saying that a meeting with all stakeholders in this regard would be held this month. Talking in Aaj News' "Aaj Ki Baat" programme, Tarin said the government had a list of 2.5 million tax defaulters more... (BR)

Gas supply to many industrial units, KESC suspended
The gas supply to many industrial units, including Karachi Electric Supply Company (KESC), has been suspended as the gas shortfall reached its record high in the country, moreover, gas loadshedding has also been initiated for the domestic consumers more... (BR)

Politics

Pakistan-India tensions: Holbrooke says no plan to act as mediator between the two foes
Easing tension between India and Pakistan would help Western efforts in Afghanistan, but it is up to Islamabad and New Delhi to find their own path toward better ties, the US envoy to Afghanistan and Pakistan said on Sunday more... (BR)

Nuclear 'hijacks': Pakistan rejects Sunday Times' assertions
Pakistan on Sunday strongly rejected a report of Christina Lamb in Sunday Times claiming that "Elite US troops ready to combat Pakistani nuclear hijacks" and termed it rubbish and figment of the imagination of the reporter more... (BR)

'No PPP-MQM deadlock over local bodies'
Minister of Ports and Shipping Babar Ghouri has dispelled the impression of any deadlock between MQM and Pakistan People's Party over the local bodies system more... (BR)

Sector Briefing

Gas production from Qadirpur field in jeopardy
The country may lose gas production from the largest Qadirpur gas field as public sector companies, Sui Northern Gas Pipeline (SNGPL) and Enar, have failed to start installation of compressors at the site so far, Business Recorder has learnt. The OGDC has hired the services of these companies to install compressors at Qadirpur gas field without completing the bidding process more... (BR)

OGDC to work with Chinese oil firms
The Oil and Gas Development Company (OGDC) hopes to sign an agreement with China National Petrochemical Company and Sinopec to explore new more... (D)

Rental plants to cause steep rise in power tariff: ADB
The ADB declined to approve the plans for 14 RPPs saying it would need 31pc to 45pc increase in consumer tariff 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.