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February 22, 2010
Statistics
KSE-100 Index
Previous Index 9,889.30
Current Index 9,902.62
Change % 0.13%
YTD (CY10) 5.49%
YTD (FY10) 38.26%

International Indicators
  Close %age
BSE-30 16,191.63 (0.83)%
HANGSENG 19,894.02 (2.59)%
NIKKEI 255 10,123.58 (2.05)%
FTSE 5,358.20 0.62%
DJIA 10,402.35 0.09%
SSEC 2,985.50 (1.08)%
NASDAQ 2,243.87 0.10%

SCRA
Feb 19 , 2010 6.65
February, 2010 9.30
YTD 296.04

Money Market Updates
6m T-bill 10-Feb-10 12.02%
12m T-bill 10-Feb-10 12.05%
3m KIBOR 12.33%
6m KIBOR 12.38%
10 yrs PIB 12.54%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.68
Rs/UK 131.41
Rs/US 85.03
Rs/OR 219.72

Commodities
Oil $80.19/barrel
Oil Change in % 0.48%
Gold $1,125.50/ounce
Gold Change in % 0.30%

Inflation
CPI Gen. - YoY (Jan 10) 13.70%
CPI Gen. - FY10 (Jul -09-Jan 10) 10.80%
NFNE Core INFL - YoY (Jan-10) 10.30%
NFNE Core INFL - FY10 (Jul-09-Jan-10) 11.60%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Feb 13, 2010) 14.32bn
Trade Balance (Jul-Jan 10) $(8.44)bn
Curr. A/C (Jul-Jan-10) $(2.49)bn
Remittances (Jul -Jan 10) $5.20bn
Foreign Investment (Jul -Jan-10) $1.47bn
All Sch. Banks Deposit Base (Feb 13, 2010) Rs4,371bn

NAVs and Returns
as of Feb 20, 2010
Funds Offer Redemption
POBOP 46.4197/- 45.9555/-
Daily Return (32.65)%
POAIIF 50.3169/- 49.8137/-
Daily Return 7.37%
POAIF 52.53/- 51.22/-
Daily Return 7.13%
POASF 57.13/- 55.70/-
Daily Return (6.55)%
POAF 10.6886/-
Daily Return (29.64%
*Daily Returns are calculated as per MUFAP guidelines

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

Short receipts from FoDP: finance withholds funds for projects
The Finance Ministry has withheld funds earmarked for the development projects in Public Sector Development Programme (PSDP) due to poor cash inflow from Friends of Democratic Pakistan (FoDP) for the third quarter (Jan-Mar) of on-going fiscal year, Business Recorder has learnt more... (BR)

Fourth quarter portfolio performance of projects: ADB and EAD to review progress from March 1
The Asian Development Bank (ADB) and the Economic Affairs Division (EAD) will start fourth quarter portfolio performance review of several federal and provincial projects from March 1, 2010, official sources exclusively told Business Recorder. Each year, the ADB lends over a billion dollars to fund projects in Pakistan and also monitors progress of these projects in accordance with loan agreements more... (BR)

SPI registers 16.82 percent increase
The Sensitive Price Index (SPI) for the week ending February 18 registered an increase of 16.82 percent as compared to the same period of previous year. According to the data available with the Federal Bureau of Statistics (FBS), 53 items in 17 urban areas were included in the SPI. Increment in prices of 21 items, decline in seven and stability in the prices of 25 items was recorded more... (BR)

Politics

Gilani and Nawaz meeting today
An important meeting between Prime Minister Syed Yousuf Raza Gilani and Pakistan Muslim League-N chief, Nawaz Sharif, will be held at the later's Raiwind residence at breakfast on Monday (today), Aaj TV reported more... (BR)

NAB chief seeks advice on Swiss cases
National Accountability Bureau Chairman Navaid Ahsan has sent a letter to the law ministry seeking advice on how to reopen the Swiss money laundering cases in compliance with a Supreme Court order more... (D)

PM hints at repeal of 17th Amendment soon
He said PPP govt believed in the Charter of Democracy and would amend the Constitution in accordance with the CoD more... (D)

Sector Briefing

Fuel oil with high sulplur content: PSO rejects shipment
Pakistan State Oil (PSO) has rejected the shipment of 61,000 MT fuel oil due to containing high sulphur content by FAL supplier, Business Recorder has learnt. Sources in Petroleum Ministry revealed to the Business Recorder that PSO had conveyed to FAL on February 18 in writing that it would not accept the shipment of 61,000 tons with high sulfur content more... (BR)

Rupee depreciation major challenge to auto industry
Depreciation of Pak rupee against all major currencies is one of the major challenges currently being faced by Pakistan's auto industry. Pakistan Automobile Manufacturers' Association (Pama) believes that the loss of financial viability in automobile manufacturing could result in job losses of more than 50,000 working personnel more... (BR)

Amtex offers 61 million ordinary shares through IPO
Amtex Limited, the largest vertical integrated textile set-up in Pakistan has announced offering of 61 million ordinary shares through initial public offering (IPO). "Positive trend continued at this front as new companies are coming for listing at the local bourse", analysts said adding that it would be the fourth IPO being witnessed in just two months of the current year against only three public offerings seen in the whole year of 2008 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.