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February 25, 2010
Statistics
KSE-100 Index
Previous Index 9,823.57
Current Index 9,686.18
Change % (1.40)%
YTD (CY10) 3.19%
YTD (FY10) 35.24%

International Indicators
  Close %age
BSE-30 16,255.97 (0.19)%
HANGSENG 20,467.74 (0.75)%
NIKKEI 255 10,198.83 (1.50)%
FTSE 5,342.92 0.50%
DJIA 10,374.16 0.89%
SSEC 3,022.18 1.33%
NASDAQ 2,235.90 1.01%

SCRA
Feb 23 , 2010 0.44
February, 2010 9.76
YTD 296.50

Money Market Updates
6m T-bill 24-Feb-10 11.90%
12m T-bill 24-Feb-10 11.98%
3m KIBOR 12.33%
6m KIBOR 12.38%
10 yrs PIB 12.70%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.46
Rs/UK 131.72
Rs/US 85.15
Rs/OR 217.04

Commodities
Oil $79.70/barrel
Oil Change in % (0.38)%
Gold $1,091.40/ounce
Gold Change in % (0.53)%

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 20, 2010) Rs4,360bn

NAVs and Returns
as of Feb 24, 2010
Funds Offer Redemption
POBOP 46.4757/- 46.0109/-
Daily Return 8.09%
POAIIF 50.3569/- 49.8533/-
Daily Return 7.60%
POAIF 52.42/- 51.11/-
Daily Return (64.16)%
POASF 56.99/- 55.57/-
Daily Return (85.19)%
POAF 10.7015/-
Daily Return 11.92%
*Daily Returns are calculated as per MUFAP guidelines

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

US seeks $3.2bn for Pakistan, says Hillary
The money will be spent “to combat extremism and build a long-term relationship with the Pakistani people” more... (D)

Pakistan may attain 5-8 percent growth: IMF official
The biggest challenge Pakistan facing now is to improve growth rate to over 5 percent on sustained basis by overcoming structural challenges, says an IMF official. "There is no reason Pakistan can not grow over five percent on sustained basis by increasing exports and investments; all opportunities are there", said Masood Ahmed, IMF Director of Middle Eastern and Central Asian Division, in an exclusive interview with Business Recorder more... (BR)

Treasury bill rates go up again
Treasury bills rates have again been increased within 15 days, reflecting mounting pressure of inflation on economy which may result in more more... (D)

Politics

Restitution of illicit assets: Swiss government proposes new law
Switzerland is preparing a new law that would assist in the restitution of assets stolen by corrupt politicians to the concerned countries, the foreign minister said Wednesday. Under the draft new law, the government would be able to confiscate assets if "the enrichment of the politician concerned is manifestly exorbitant or if corruption is notorious in the country," said Micheline Calmy-Rey more... (BR)

Supreme Court verdict on NRO: NAB submits compliance report
National Accountability Bureau (NAB) on Wednesday submitted a compliance report in the Supreme Court regarding action taken for implementation of orders issued by the apex court in its verdict on National Reconciliation Ordinance (NRO). In December last year, a 17-member bench of the apex court had declared NRO invalid more... (BR)

PML-N's Shakil trounces Sheikh Rashid
The PML-N retained its supremacy in Rawalpindi on Wednesday when its candidate Shakil Awan defeated six-time winner and a minister in the more... (D)

Sector Briefing

Insurance companies investment solvency: SECP proposes changes in rules
The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments in the Securities and Exchange Commission (Insurance) Rules 2002 to revise solvency requirements and frame guidelines on investment of insurance companies. Sources told Business Recorder here on Tuesday that the SECP would issue a notification in this regard more... (BR)

Differential claims on imported POL: Finance refuses to bear burden
The Finance Ministry has refused to bear the burden of differential claims on imported petroleum products and financial impact of freight component of Parco and ARL after Inland Freight Equalisation Margin (IFEM) de-regulation due to financial constraints, Business Recorder has learnt. The oil industry had submitted differential claims to Finance Ministry on imported petroleum products worth over Rs 3 billion more... (BR)

Government plans 50 petroleum concession deals
Pakistan plans to offer about 50 sites for oil and gas exploration through bidding in June, a top government investment official said on Wednesday, as the country seeks to cut its reliance on oil imports. Pakistan, which imports about 80 percent of its oil, spent $9.5 billion on imports of 10.6 million tonnes of petroleum products and 7.8 million tonnes of crude oil in the last financial year 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.