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March 10 , 2010
Statistics
KSE-100 Index
Previous Index 9,740.19
Current Index 9,787.03
Change % 0.48%
YTD (CY10) 4.26%
YTD (FY10) 36.65%

International Indicators
  Close %age
BSE-30 17,052.54 (0.30)%
HANGSENG 21,207.55 0.05%
NIKKEI 255 10,567.65 (0.20)%
FTSE 5,602.30 (0.10)%
DJIA 10,564.38 0.11%
SSEC 3,069.14 0.52%
NASDAQ 2,340.68 0.36%

SCRA
Mar 08 , 2010 (7.11)
March, 2010 21.99
YTD 316.05

Money Market Updates
6m T-bill 24-Feb-10 11.90%
12m T-bill 24-Feb-10 11.98%
3m KIBOR 12.34%
6m KIBOR 12.39%
10 yrs PIB 12.63%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.43
Rs/UK 127.22
Rs/US 84.69
Rs/OR 217.12

Commodities
Oil $81.56/barrel
Oil Change in % 0.09%
Gold $1,124.80/ounce
Gold Change in % 0.22%

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 (Mar 04, 2010) 14.80bn
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 27, 2010) Rs4,396bn

NAVs and Returns
as of Mar 09, 2010
Funds Offer Redemption
POBOP 47.3258/- 46.8525/-
Daily Return 7.85%
POAIIF 50.4839/- 49.9791/-
Daily Return 7.26%
POAIF 52.62/- 51.30/-
Daily Return 128.52%
POASF 57.22/- 55.79/-
Daily Return 98.40%
POAF 10.7958/-
Daily Return 21.26%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP's next monetary policy on 27th
The State Bank of Pakistan (SBP) will announce its monetary policy for April and May on March 27, Syed Wasimuddin, the chief spokesman for the State Bank of Pakistan, said Tuesday.The central bank kept its key policy rate unchanged at 12 more... (FD)

World must prepare for next crisis: IMF
The head of the International Monetary Fund says the world needs to prepare for the next economic crisis, even as it begins to recover from the worst recession since the Great Depression. IMF Managing Director Dominique Strauss-Kahn, speaking to business students at a Johannesburg university on Tuesday, expressed concern that recovery could mean leaders will feel less pressure to pursue such reforms as tightening regulation and supervision of financial markets more... (BR)

CEOs, boards of eight PSEs to be replaced
The government has decided to replace the incumbent Chief Executive Officers (CEOs) and Boards of Directors (BoDs) of eight public sector enterprises (PSEs), some of which are near bankruptcy, sources in Finance Ministry told Business Recorder more... (BR)

Politics

Army ready to meet security challenges: Kayani
General Kayani said the army would maintain professional excellence to protect national security interests more... (D)

Karzai arrives today
Afghan President Hamid Karzai, arriving here on Wednesday on a two-day visit, is expected to share with his interlocutors the role Kabul had more... (D)

Zardari accepts Tarin's resignation
President Asif Ali Zardari has accepted the resignation tendered by Shaukat Fayaz Ahmed Tarin, Minister for Finance, Revenue, Statistics Planning and Development, from the office of Federal Minister. According to a notification of the Cabinet Division more... (BR)

Sector Briefing

Arif Habib Investments, MCB AMC discuss merger
The Arif Habib Investments Limited and MCB Asset Management Company Limited (AMC), have entered into discussion to consider a possible merger of the two entities, subject to all regulatory approvals. According to information sent to Karachi Stock Exchange (KSE) on Tuesday, both sponsors believe that the combined force of MCB and Arif Habib Group would strengthen the asset management business considerably and would be in greater interest of the investing public more... (BR)

HBL President says bank is expanding in UK
Chairman, Habib Bank, United Kingdom, Zakir Mahmood is optimistic about the future growth of his organisation despite adverse financial times. In an exclusive interview with APP's correspondent on the occasion of opening of bank's new branch at Edgware Road, Central London, here last evening, he spoke of the difficult times for the banking sector in the UK and said the global economy has been soft and the prospects are still mixed more... (BR)

400,000 tons of urea import by TCP allowed: Gilani chairs ECC meeting
The Economic Co-ordination Committee (ECC) of the Cabinet has approved import of 0.4 million tons of urea, and directed the Trading Corporation of Pakistan (TCP) to make immediate arrangements through Karachi port for the Kharif season 2009-10. The ECC meeting, chaired by Prime Minister Yousaf Raza Gilani, also approved distribution of urea through NFC/NFML for Kharif 2010 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.