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May 25 , 2010
Statistics
KSE-100 Index
Previous Index 9,871.16
Current Index 9,687.41
Change % (1.86)%
YTD (CY10) 3.20%
YTD (FY10) 35.25%

International Indicators
  Close %age
BSE-30 16,186.83 (1.72)%%
HANGSENG 19,667.76 0.62%
NIKKEI 255 9,758.40 (0.30)%
FTSE 5,069.61 0.1.%
DJIA 10,066.57 (1.24)%
SSEC 2,642.76 (1.15)%
NASDAQ 2,213.55 (0.69)%

SCRA
May 21, 2010 7.58
May, 2010 22.71
YTD 543.48

Money Market Updates
6m T-bill 19-May-10 12.09%
12m T-bil l19-May-10 12.17%
3m KIBOR 12.07%
6m KIBOR 12.20%
10 yrs PIB 12.58%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 105.88
Rs/UK 122.55
Rs/US 84.64
Rs/OR 219.25

Commodities
Oil $69.22/barrel
Oil Change in % (1.41)%
Gold $1,192.60/ounce
Gold Change in % (0.12)%

Inflation
CPI Gen. - YoY (Apr-10) 13.3%
CPI Gen. - FY10 (Jul -09-Apr 10) 11.49%
NFNE Core INFL - YoY (Apr-10) 10.6%
NFNE Core INFL - FY10 (Jul-09-Apr-10) 11.20%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,085
Population 169.57mn
US$ Reserves (May 14, 2010) $15.05bn
Trade Balance (Jul-Apr 10) $(12.24)bn
Curr. A/C (Jul-Apr-10) $(3.06)bn
Remittances (Jul -Apr 10) $7.31bn
Foreign Investment (Jul -Apr-10) $1.73bn
All Sch. Banks Deposit Base (Apr 24, 2010) Rs4,430bn

NAVs and Returns
as of May 24, 2010
Funds Offer Redemption
POBOP 45.9651/- 45.5054 /-
Daily Return 8.27%
POAIIF 51.2462/-   50.7337/-
Daily Return 7.38%
POAIF 52.02/- 50.72/-
Daily Return (114.06)%
POASF 54.83/- 53.46/-
Daily Return (137.26)%
POAF 11.07/-
Daily Return 34.01%
*Daily Returns are calculated as per MUFAP guidelines

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

Foreign debt to top $59bn by end-year
Pakistan's total foreign debt will rise to $59.40 billion after receiving two more installments of IMF loan amounting to $4.03 billion by December 31 this year more... (TFD)

Increase in power tariff to hurt economy: PCA
The increase in electricity tariff would seriously hurt business and industry, and rising production cost will further destabilise the economy. The tariff has already gone up unprecedented and almost 50 per cent increase in last two years has minimised Pakistan competitiveness in export markets more... (TFD)


Politics

Awan set to front SC today
Minister for Law and Parliamentary Affairs Dr Babar Awan would appear before the Supreme Court of Pakistan today (Tuesday) and elucidate the government's stance for not writing letters to Swiss Authorities regarding reopening of money-laundering cases against President Asif Ali Zardari more... (TFD)

‘Trust deficit’ holding back Pak ties: Singh
Indian Prime Minister Manmohan Singh said on Monday that a cross-border “trust deficit” was the main obstacle holding back any improvement in relations between India and Pakistan. “Prime Minister more... (The News)

China a factor of stability in region: Zardari
President Asif Ali Zardari on Monday said Pakistan feels that China is a factor of stability in the region and together both the countries would continue their common endeavours for building a better more... (The News)

Sector Briefing


July-April textile exports swell to $8.46 billion
Textile exports swelled to $8.46 billion during the first ten months of current fiscal year, up by 7.04 percent over $7.905 billion for the same period last year, according to Federal Bureau of Statistics. Provisional trade figures released by the FBS on Monday showed a growth of 140.19 percent in export of raw cotton on the back of a surge in demand of the commodity by regional countries more... (BR)


Mutual fund industry grows by 3.5pc
The mutual fund industry witnessed a growth of 3.5 per cent during April with the total industry size reaching Rs221 billion. The open-end funds surged by 5 per cent and the closed-end funds declined by 2. 6more... (The News)

Petroleum products: government likely to set Rs 121 billion revenue target for next year
The government is considering setting a total revenue target of Rs 121 billion - Rs 108 billion from petroleum levy (PL) and Rs 13 billion from discount on locally produced crude oil, in the forthcoming budget, an amount Rs 16 billion less than last year's budgetary estimates 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
    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.