FINANCIAL NEWS

Economic Indicators for Pakistan

Forex Reserves $11.06bn

Inflation CPI% 7.09%
Exports $18.00bn
Imports $33.4bn
Trade Balance ($15.40)bn
Current A/C ($1028)mn
Remittances $10.35bn
Foreign Investment $921.0mn
Domestic Debt Rs. 8.716bn
GDP Growth FY12E 3.60%
per Capita Income FY11 $1,254
Population 182.96 mn

Enron No Lesson to Traders as EU Probes

Oil-Price Manipulation
Enron Corp.s 2001 collapse revealed the extent of its manipulation of spot gas prices. Twelve years
later, European Union regulators may discover energy traders never learned the lessons of the scandal.

BP Plc (BP/), Royal Dutch Shell Plc (RDSA) and Platts were visited by EU inspectors last week over
allegations they colluded in reporting distorted prices to manipulate the published prices of oil and
biofuel products, the European Commission in Brussels said after the raids.

Shell, London-based BP and Statoil ASA (STL), three of Europes biggest oil explorers, are under
investigation for potential manipulation of prices in the $3.4 trillion-a-year global crude market. The
involvement of McGraw Hill Financial Inc. (MHFI)s Platts, which publishes pricing data, hearkens back to
other pricing scandals including Enron, and more recently, Libor.

Vodafone $100 Billion Stirs Payout, Deal

Dreams
Vodafones investors have ideas for the $100 billion or more that the company stands to pocket for its
stake in Verizon Wireless: first, a fat dividend -- then, deals.
Verizon Communications Inc. (VZ) has said its interested in buying out Vodafones 45 percent stake in
their Verizon Wireless joint venture. The windfall would leave Newbury, England-based Vodafone with
more cash than every other non-finance company after Apple Inc. (AAPL), according to data compiled by
Bloomberg. With Vodafone set to report a drop in annual sales tomorrow amid heightened competition,
Sanford C. Bernstein & Co. said it could put some of that money toward acquisitions to help move into
new markets and revive growth. After Vodafone lost more than half its value since Verizon Wireless
began offering mobile services in 2000, shareholders such as Ignis Asset Management say Vodafones
priority should be to return a large amount to investors. Even if Vodafone gave stockowners half of the
at least $100 billion in proceeds, the carrier still will be left with $62 billion, including current cash. That
would be enough firepower to buy Germanys largest cable operator Kabel Deutschland Holding AG
(KD8) and John Malones Liberty Global Inc. (LBTYA), KBC Asset Management said.

QUESTIONS FROM THE COMPENDIUM

1. The decisions of all legislative meetings shall be ratified by AIESEC in Pakistans MC in a meeting
held no later than _____________ after the completion of the respective legislative meeting.
(Art 39, National Compendium)
A. 12 days
B. 20 days
C. 25 days
D. 30 days
E. 60 days
2. Voting is possible with at least 5 members from the LC. What is the criteria of these 5 members
i.e. what should be their positions in order to let the elections proceed? (National Compendium
2.4)
A. 1 LCP, 2 EB Members, 2 GB Members
B. 1LCP, 1 EB Member, 3GB Members
C. 3 EB Members, 2 GB Members
D. 2 EB Members, 3 GB Members
E. You cannot conduct voting in 5 people.
3. Any student to be eligible for an internship under AIESECs exchange program may be selected
at the latest ________ years after obtaining a degree, but they may not be older than _______
of age as on 1st January of the year. (Local Compendium 2.6)
A. 2, 30
B. 4, 25
C. 4, 30
D. 2, 25
4. Legislations which have been approved in working groups and sub-committees or tracks shall be
circulated in writing at least ________ before the matter can be voted upon, where this is not
possible, there must at least be ample opportunities provided for discussion by all delegates.
 (National Compendium 2.7)
A. 7 Hours
B. 12 Hours
C. 24 Hours
D. 48 Hours
5. Charles is in an AIESEC Conference. This is his first conference and he has no experience
whatsoever about the agenda of the conference. The motion on the floor is to discuss the
progress of ICX and its new initiatives as a whole. Charles starts off well but then he starts
talking about how the organization as a whole has suffered due to the current political situation
in Pakistan. Is Charles violating the compendium? (2.10.2 National Compendium)