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January 27, 2010
Statistics
KSE-100 Index
Previous Index 9,689.20
Current Index 9,666.48
Change % (0.23)%
YTD (CY10) 3.00%
YTD (FY10) 35.00%

International Indicators
  Close %age
BSE-30 16,780.46 (0.47)%
HANGSENG 20,109.33 (2.38)%
NIKKEI 255 10,325.28 (1.80)%
FTSE 5,276.85 0.30%
DJIA 10,194.29 (0.03)%
SSEC 3,019.39 (2.42)%
NASDAQ 2,203.73 (0.32)%

SCRA
Jan 25, 2010 (0.73)
January, 2010 16.53
YTD 286.53

Money Market Updates
6m T-bill (Jan 14, 2010) 12.05%
12m T-bill (Jan 14, 2010) 12.05%
3m KIBOR 12.21%
6m KIBOR 12.26%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 119.39
Rs/UK 137.24
Rs/US 84.73
Rs/OR 216.18

Commodities
Oil $74.64/barrel
Oil Change in % (0.09)%
Gold $1,097.50/ounce
Gold Change in % (0.18)%

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 16, 2010) 15.24bn
Trade Balance (Jul-Dec 09) $(6.80)bn
Curr. A/C (Jul-Dec- 09) $(1.76)bn
Remittances (Jul -Dec 09) $4.53bn
Foreign Investment (Jul -Dec-09) $1.28bn
All Sch. Banks Deposit Base (Jan 16, 2010) Rs4,363bn

NAVs and Returns
as of Jan 26, 2010
Funds Offer Redemption
POBOP 47.6055/- 47.1294/-
Daily Return 20.06%
POAIIF 50.0735/- 49.5728/-
Daily Return 5.37%
POAIF 53.10/- 51.77/-
Daily Return 35.29%
POASF 57.41/- 55.97/-
Daily Return 26.10%
POAF 10.6452/-
Daily Return 11.98%
*Daily Returns are calculated as per MUFAP guidelines

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

World Bank proposing $6.5 billion assistance under CPS
World Bank is proposing a total of 6.5 billion dollar assistance to Pakistan under the proposed Country Partnership Strategy (CPS) for the next four years (2010-13) currently under preparation, in comparison to last Country Assistance Strategy (2006-09) which was 4.63 billion dollars, according to Country Director Yusupha Crookes more... (BR)

Global economy to grow 3.9 percent in 2010: IMF
The International Monetary Fund said Tuesday the global economy was poised to rebound from last year's contraction and grow 3.9 percent, better than previous forecasts. The IMF said the overall world economy would swing back to growth after the global decline in output of 0.8 percent, which it said was the first contraction since World War II more... (BR)

Pakistan pays $600 million on maturing Euro Sukuk Bond
Pakistan on Tuesday paid $600 million on a maturing five-year Euro Sukuk Bond to foreign buyers, a central bank official said. Entering the international bond market, Pakistan launched first-ever Euro Bond in 2004 through Citibank to dig up foreign exchange for external payments more... (BR)

Politics

US, allies plan $500m fund to woo Taliban
The integration fund will be used to lure Taliban fighters to join the political mainstream in Afghanistan more... (D)

CEC to hear Zardari's eligibility petition on Feb 4
Chief Election Commissioner Justice Hamid Ali Mirza will hear on Feb 4 arguments on maintainability of a petition challenging eligibility of Asif Ali Zardari to hold the office of president and seeking fresh scrutiny of his nomination papers as a presidential candidate more... (D)

Obama aide seeks greater Pakistan action against extremism
President Barack Obama's national security adviser on Monday called for Pakistan to see greater urgency in the fight against extremism and pledged that Washington was committed for the long haul. Retd General James Jones said that the role of Pakistan was critical for the future of the region, where the United States is pouring thousands more troops into Afghanistan to fight al Qaeda and Taliban extremists more... (BR)

Sector Briefing

Petrol price hike likely
The government is likely to increase petroleum prices by Rs3 to Rs4 per litre from Feb 1 because of rise in international prices more... (D)

40 mmscfd gas supply started from Manzalai-IV
Supply of additional 40 mmscfd natural gas has been started from Manzalai-IV of Tal Block to national transmission system to the recently inaugurated Central Processing Facility (CPF) despite odds hindering site operations in line with recent proposal addressed to the Ministry of Petroleum and Mineral Resources more... (BR)

Faysal Bank intends to buy RBS
Faysal Bank Limited has expressed interest to acquire The Royal Bank of Scotland (RBS) Pakistan. The Faysal Bank on Tuesday notified the Karachi Stock Exchange (KSE) that the board of directors of FBL has given in-principle approval to evaluate the information that will be provided by RBS in relation to the sale of RBS Pakistan, and participate in the sale process identified by RBS in this regard 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
Rafey Ahmed 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.