Monday, March 30, 2009

Jyoti Bikash Bank's 3rd Branch

KATHMANDU: Jyoti Bikash Bank Ltd (JBBL) established its third branch at Koteshwor on Monday. According to a press release, the bank wil soon open a fourth branch in Jorpati. It has various schemes like Bal Kalyan Bachat Khata with an interest rate of seven per cent per annum and it can be opened at a minimum balance of Rs 1,000. The scheme is for children below 16 years of age. http://www.jbbl.com.np/

Bajaj Motorcycles brings in 'Bajaj Jhalamalla Jindagi'

HH Bajaj Company, the authorized distributor of Bajaj Motorcycles has announced the instigation of its offer – Bajaj Jhalamalla Jindagi targeted especially for the current load-shedding conditions.

HH Bajaj has announced that this scheme is applicable to all the brands available in the Nepali market. Through this scheme, with the purchase of any Bajaj Motorcycle, the customer is eligible to receive one 400 VA Xenon inverter with battery free of cost. This scheme has been brought in the Nepali market from the 29th of March 2009 and will be applicable for the entire country. HH Bajaj is provided the information that this scheme is available for Bajaj Pulsar, Bajaj Discover, Bajaj XCD, Bajaj Avenger and Bajaj Platina.

Friday, March 27, 2009

Kohler Co. forays into the Nepali Market


Kathmandu, March 26, 2009: Kohler Co., a global leader in kitchen and bath design, has announced its entry into the Nepalese market with the launch of its stylish and innovative range of bathroom products including toilets, lavatories, faucets, bathtubs, whirlpools and showers.

The U.S. based company’s first showroom in Nepal, gets inaugurated by Her Excellency Ambassador Powell, today in Kathmandu in the presence of several city glitterati and distinguished invitees from both the public and private sector.

Located at Bhaneshwor, the Kohler exclusive showroom showcases the innovative range of bathroom products including toilets, lavatories, faucets, bathtubs, whirlpools and showers. Originating from Kohler’s globally acclaimed design centers in the United States and Europe, Kohler product range offers sophisticated and innovative bathroom products in Nepal at par with the designs and trends prevalent internationally. The company will distribute its products in Nepal through Kohler showrooms operated by Bajra & Bajracharya Enterprises.

“It has been a Kohler tradition for more than a century to produce all products and services at a single high level of quality. To be competitive in today’s plumbing business requires skilled and proud craftspeople that use advanced technologies and design to create products that are beyond the accepted and expected. This ‘single level of quality,’ as we call it, is ingrained in our company, and in the more than 31,000 associates who form this company on six continents,” said Mr. Sharad Mathur, Managing Director Kohler.

The products, currently imported from Kohler’s production facilities in Europe, the United States, Thailand and China will be marketed in Nepal at competitive prices. The products include some of the latest of Kohler’s award-winning products like the sōk® overflowing bath, the Purist® Hatbox™ toilet, WaterTile™ shower sprays and Escale suite.

Mr Sharad Mathur further added that "Kohler Co. has decided to foray into the Nepalese market seeing the high growth in the sanitary ware market in Nepal. The booming real estate industry and growing upscale consumer market present a big opportunity for Kohler. With a proven track record of design, innovation and craftsmanship, Kohler knows how to create a stunning statement in the bathroom. Our products epitomize the company’s mission of ‘gracious living’ and allow homeowners to express their individual styles and personalities”.

One of the exciting and interactive features of the store is the number of products that are completely functional. Customers can see the pulsating spray of WaterTile™ bodysprays in the performance showering area of the showroom or place their hands in the RiverBath™ Whirlpool and feel the invigorating sensations of the water jets in their fingertips. The Kohler showroom has been designed so that people can see, touch and feel before they buy.

Nepalese Product Range
Offering complete bathroom solutions to the Nepalese consumers, the product range includes toilets (two-piece, one-piece, wall-mount); lavatories (Vessels, pedestal, self-rimming, undercounter, vanity-top, semi-recessed); faucets; baths; whirlpools and showers. The wide variety targets mid- to high-end consumers with a competitive price range that approximately starts from Nepalese Rupees 4000 for lavatories, Nepalese Rupees 7600 for toilets and goes up to Nepalese Rupees 900000 for high-end bath products. Developed with innovative technology and sophisticated designs, each Kohler product is crafted to perfection.


Kitchen & Bath Group
Kohler Co. is the recognized leader in kitchen and bath design. Kohler offers diversity of products and a powerful portfolio of brands that continually sets new standards in design, craftsmanship and innovation – all knit together by a single level of quality over a broad range of price points. The Kohler Kitchen & Bath Group encompasses an extensive family of businesses around the world that manufacture plumbing products and cabinetry to the residential, commercial and industrial markets. The Kitchen & Bath Group includes the well-known global brands of Kohler, Canac, Englefield, Hytec, Jacob Delafon, Karat, Mira,
Daryl, Robern, Sanijura, and Sterling.

About Kohler Co.
Founded in 1873 and headquartered in Kohler, Wisconsin, in the United States, Kohler Co. is one of America's oldest and largest privately held companies. Kohler is a global leader in the manufacture of kitchen and bath products, engines and power generation systems, cabinetry, tile and home interiors, and international host to award-winning hospitality and world-class golf destinations. Kohler Co. employs more than 31,000 associates on six continents, operates plants in 49 worldwide locations, and has dozens of sales offices around the globe. The company and each associate share in the mission to contribute to a higher level of gracious living for those who are touched by the company's products and services.

About Bajra & Bajracharya Enterprises
Bajra Group is an integrated business organization established in 1985 to meet the ever-growing demand for competent and quality products in the fields of construction and Sanitary & Kitchen ware materials. Thriving towards excellence Bajra Group has been providing Sanitaryware to most of the reputed builders in Nepal. Bajra is probably the first and only organization in Nepal providing world renowned Sanitaryware & bathroom products of a new ways.

Thursday, March 26, 2009

NAC employees against decision to lease aircraft

Pilots and staff of Nepal Airlines Corporation (NAC) have come out against the management’s decision to lease an aircraft from North American Airlines, stating that the state-owned company should focus on purchasing its own plane rather than hiring. The divergent views have come to the fore at a time when NAC is about to finalize the deal with the American carrier.Some two months ago NAC started a public bidding process to lease a plane for a period of six months. Of the 19 companies that participated in the bidding, North American had quoted the lowest rate of US$3,690 per hour of flight. NAC management may award the deal to the American company any time now.

Wednesday, March 25, 2009

Etihad’s New Schedule

Etihad Airways has published a new summer schedule for its Kathmandu-Abu Dhabi flights for better connectivity and which will come into effect from March 29. Etihad operates four flights a week from Kathmandu to Abu Dhabi. The new schedule will operate as Flight no EY 293 leaving Kathmandu on Sunday and Friday at 09.40 pm and reaching Abu Dhabi at 12.30 am the following days. Two other flights will operate as Flight no EY 291 on Monday and Wednesday leaving Kathmandu at 5.40 pm and reaching Abu Dhabi at 08.30 pm.

Tuesday, March 24, 2009

SBI's 26th Branch

Nepal SBI Bank opened its 26th branch in Tansen, Palpa, on Tuesday. Major A K Bhosle of the Defence Wing of the Indian Embassy inaugurated it. The bank has six extensions, making it a total of 32 branches. It will open branches in Bhaktapur, Surkhet, Tamghas, Itahari and Illam soon . Nepal SBI Bank is associated with the core-banking platform of the State Bank of India, making it easier to transfer money to any part of the world.

Citizen's New Scheme

Citizens’ Bank International has launched a new scheme that provides maximum interest of eight to 8.5 per cent for a deposit over one year. Under the scheme, a customer can also take credit of upto 90 percent of the deposit, states a press release. There is a six per cent interest in its special savings scheme.

ACE's CSR

ACE Development Bank and Bal Mandir have agreed to work together. Under Social Corporate Responsibility, ACE will provide scholarships to deserving students of Bal Mandir, a government orphanage. It will provide financial assistance to support the monthly distribution of sweets and fruits to students. The bank also awarded Kashi Maya Ghale of Bal Mandir for a graphic design she made for ACE’s annual report aside from study aid .

Monday, March 23, 2009

BoK to organise 'Mine Your Own Business'

As a part of its Knowledge Series workshops, Bank of Kathmandu (BoK) will hold a workshop on an infotainment approach to management concepts on April 9. According to the bank, it had earlier conducted its Knowledge Series workshop in 2006 on overcoming disabilities in children by supporting the Hospital and Rehabilitation Centre for Disabled Children (HRDC), Banepa. VALUE EXCHANGE will be this year’s essential part of the programme that will address what an employer seeks from an employee and why.
The mentor of the workshop are Sanjay Chowdhary, Managing Director, Gray Matters, and Krishnendu Banik, Director, Mind Studio India.

http://www.bok.com.np/knowledge_series09.aspx


KDBL to Issue Shares

Kasthamandap Development Bank Ltd (KDBL) is going to issue 9,60,000-unit of primary shares within this fiscal year. The development bank has appointed NIDC Capital Market as its issue manager. KDBL earned a net profit of Rs 7.4 million in the fiscal’s first six months and collected a deposit of Rs 1.35 billion. It invested Rs 78.6 million during the period.

Siddhartha's New Scheme

Siddhartha Bank Ltd (SBL) has launched a new scheme, ‘Siddhartha Sunaulo Nicheyp Yojana’, from Sunday. Under it, a customer will get 8.5 per cent interest per annum on a fixed deposit for two years. On deposits less than two years the customer will get eight per cent interest, said the bank.

One more Development Bank

One more development bank is making its venture into the Nepali banking market. An investor’s group is engaged in necessary process to commence International Development Bank limited (IDBL) after it received a “letter of intent” from the Nepal Rastra Bank (NRB). The proposed bank, which consists of a team of 514 promoters under the chairmanship of former executive director of the NRB, Madhav Prasad Bhatta, is expected to see the light of the day by mid-July this year. The IDBL will boast of authorized capital to the tune of Rs 2 billion whereas its issued and paid up capital combined will stand at Rs 640 million. The new bank will be chiefly focusing itself on small and medium-sized enterprises, hydropower, agriculture and semi-urban areas. According to Bhatta, the bank aims to provide maximum returns to all of its stakeholders by adopting professional management as well as cutting edge technologies. The IDBL has already opened its office at Teku, Kathmandu by recruiting necessary human resources.

KIST now at Koteshwor

Kist Merchant Banking and Finance reaches the number of branches to 20 as it opens its new branch at Koteshwor today 9th Chaitra 2065 (22nd March 2009). This is the 5th branch for the organization inside the valley and with 15 other branches that reside outside the valley. Kist is providing banking facilities on the basis of it's customers need and with yet another branch it hopes to get yet another step close to serving it's customers banking needs. With the additional of one more ATM Outlet at Koteshwor, the number of ATM operating at different branches has reached 16.

Thursday, March 19, 2009

Central Park - Luxury Apartment

Clean Developers are launching their first most sought after luxury apartment project, Central Park, in the post-residential area of Bishal Nagar. Spread over a total area of 18 ropanies with over 70 percent of open space , the apartment is being promoted by Clean Energy Development Bank and other investors. According to a press statement, the project team includes architects from ARCOP Associates, New Delhi.

Mero Roaming

Mero Mobile PvtLtd has added the facility of international roaming for its customers since last week. The international operators under the roaming networking are TURKCELL-Turkey, KKTCELL-North Cyprus, TeliaSonera Mobile Networks AB-Sweden, Partner Communications Company Ltd (Orange) — Israel, and SMART Communications Inc. (SMART)- Philippines, along with these networking the company has
started roaming facility from 64 countries’ 152 telecommunication service providers, said a press note.

Citizen's Senior Saving Account

Citizens’ Bank International has launched a new scheme, Senior Citizens Savings Account. According to a press statement, the scheme is aimed mainly at people of age 58 and over. The account can be opened with minimum balance of Rs 1000, with annual interest rate of 7.50 per cent and a free debit card. The bank plans to open eight more branch offices.

Three New Airlines in Pipeline

Three new airlines companies are gearing up to launch their flights in the Nepali sky.
"Out of the three companies, two will be commenced with total domestic investment while the Britain-based Non-Resident Nepalis (NRNs) will pour their money to operate the remaining one," reports the Arthik Abhiyaan Weekly.

Guna Group, which has invested in various sectors like housing, finance and entertainment, is preparing to inaugurate "Guna Air" on the occasion of the New Year 2066. The Group is planning to start domestic flights by purchasing two aircrafts from the Buddha Air. Similarly, Air Kasthamandap is also carrying out necessary homework to launch its maiden flight from the upcoming New Year. Basically, it will operate "cost affective" cargo flights in various remote areas of the country. On the other side, registration process of the NRNs funded airline is learnt to have begun. However, it is not clear whether it will get registered under the Nepal government or just open "corporate office" in Nepal.

Rs 26 million Revenue collection

BIRGUNJ: Under Voluntary Declaration of Income Source (VDIS) scheme Rs 26 million has been collected in Birgunj, half the amount that the government had targeted. The target under VDIS was Rs 500 million in Birgunj. Around 81 businesspersons declared their income source. Asked about the low collection, chief tax officer at Inland Revenue Office, Birgunj, Satya Narayan Mandal said, “This is because some Birgunj businessmen declared their income in Kathmandu.”

Ace Rhino Account

With an aim to expand its reach to every household, Ace Development Bank Limited has launched a new deposit scheme "Ace Rhino Account".


According to a press statement issued by the bank, the newly introduced scheme is designed to cater to the banking needs of the parents as well as children of any age.

"Interested individuals can open an Ace Rhino Account with minimum balance of NRs.100 for children and Rs 1,000 for parents. This account will be saving Account by nature with interest rate of 6.5% per annum payable quarterly on monthly minimum balance," read the statement. Ace Rhino Account holders will be entitled to benefits like free Ace Visa Debit Card, free American Express Traveler’s Checks, and discounts on locker services, free e-banking, free SMS banking and ABBS facility, among others.

Ace uses the symbol of the one-horned rhino as its mascot as it believes this will create awareness for conservation of the one-horned rhino. Ace’s Visa Debit Card is valid in Nepal and India.

NT to launch Post-paid CDMA

Nepal Telecom (NT) is going to start post paid CDMA mobile service in Kathmandu valley and Banepa from Sunday. According to a press note, the distribution will begin at NT’s office in Teku, Thimi and Banepa on first-come first-served basis. The charge for the service is fixed at Rs 4745 for local and national calls while for international calls the charge is Rs 6745.

Sunday, March 15, 2009

Himalyan's 20th branch at Chuchhepati

Himalayan Bank Ltd chairman Manoj Bahadur Shrestha on Sunday inaugurated the bank’s Chabahil branch — the 20th — at Chucchepati. Speaking on the occasion, bank CEO Ashoke SJB Rana said that in the first seven months of the current fiscal year, the bank’s deposit base had grown to above Rs 32.14 billion and loan portfolio was over Rs 22.46 billion. It also reduced its NPA level to 1.84 per cent. “HBL has channelled remittance inflow worths $312 million as of Magh end,” he said.

NIC 19th Branch


NIC Bank Ltd started operations of its 19th branch office at Samakhusi on Sunday. According to the bank, it has seven branches in Kathmandu valley and the new branch will make it a total of 19 branches throughout the country. The bank is planning to add three more branches within the current fiscal year.

Thursday, March 12, 2009

Gorkha Development Bank's 9th branch

Kathmandu March 12: Gurkha Development Bank (Nepal) Ltd started operations of its 9th branch office at Satdobato, Lalitpur. According to a press statement, in the six months of fiscal year 2008-09 the bank registered an operating profit of Rs 37.6 million and collected a total deposit of Rs 2.47 billion. The total credit flow of the bank is Rs 2.52 billion.

Tuesday, March 10, 2009

Real estate expo 2009 to begin from March 19

Nepal Land & Housing Developers’ Association will organise “Panchakanya Real Estate Expo 2009” from March 19-22 at Bhrikuti Mandap here.The expo will feature over hundreds of exhibitors from land planners to skyscraper builders, manufacture to suppliers, Vastu experts to interior designers and fabricators, valuators to financiers for showcasing different development taking place in real estate sector, sharing their facilities and providing support and concern.This expo will also give an opportunity to generate unique branding and sales break by bringing investors and private buyers to meet developers, agents, service providers andvarious expertises from their respective fields.“It will facilitate face-to-face meetings with consumers, registering a phenomenal growth in sales volume as well brand promotion. It shall also act as the perfect place to conduct market surveys, assess price points and learn from end-users how to improve products and increase sales,” said the organisers.GharGhaderi.Com is managing the expo in association with Direction Nepal Pvt Ltd.

Sunday, March 8, 2009

LOWER MODI HYDROELECTRIC ROJECT (20MW) IN PARBAT DISTRICT


At this time when Nepal is reeling with 16 hours of power cuts every day, Nepal needs many medium and small hydropower projects that can be installed at the shortest time. If it wants to address the power deficit problem, the role of quick viable projects will be crucial. Lower Modi Khola Hydroelectric Project is one such project. The foundation stone of this project was laid on March 4, 2009. Situated in Parbat District, this project is a Run-of-River type having 20 MW installed capacity. With the source river Modi, this project will be able to generate about 124GWh of energy annually. The project requires no additional access road and only about 4.5 km transmission line to connect it to the National Grid. If it gains support from all quarters, this project can be constructed in 2.5 years time. The project has already obtained financial commitment from Nepal Investment Bank Limited. The contract for the office building has been awarded. The detail design is currently under final review for construction. Hydro Solutions Group, KL Dugar Group, Murarka Group and Debenara Group are promoting this project.

Bajaj XCD 135 DTS-Si launched in Nepali Market


The evermore innovative and digitally advanced Bajaj Motorcycle has always been able to pull off those technological renovations that other motorcycle can only think of. Nepal’s number 1 selling motorcycle brand – Bajaj compiled up all the digital technologies in its famous bike like Pulsar and Discover, now has come up with exclusive features in Bajaj XCD motorcycle that has been incorporated with 135 DTS-Si engine.


Bajaj is the world leader in Twin Spark Technology and this technology has been featured exclusively in the stylish bike – Bajaj XCD 135 DTS-Si. The 135cc DTS-Si engine is the best combination of power and mileage and is claimed to be the bike that takes up least amount of fuel.

Also, Bajaj XCD 135 DTS-Si exclusively features the introduction of Auto Choke facility. This unique in built auto choke mechanism provides optimum performance and easy bike starting in all weather conditions. This hassle-free technology is introduced first in this very bike for the first time.

Gas filled Nitrox suspension for ride comfort on all terrain – is the other exclusive feature in Bajaj XCD 135 DTS-Si. Suitable for Nepali roads, this technology provides comfort for both rider and pillion as Bajaj has excelled in Nitrox suspension technology. Parallel to this exclusive feature, Bajaj XCD 135 DTS-Si avails the feature of wider rear tyre for better road grip and sporty styling.

HH Bajaj has provided the information that all the exclusive features, along with Bajaj XCD 135 DTS-Si stylish looks and superior performance; this bike is able to address the 'demands' of motorcycle customers all over Nepal. As the technological aspects like less fuel consumption, auto choke facility and enhanced suspension are able to deal with the customers' needs; HH Bajaj believes that this bike will be able to bring in the new revolution in Nepali market.

HH Bajaj has informed that the starting price for Bajaj XCD 135 DTS-Si (Disc Brake System) is Rs. 149900 and the price for Bajaj Discover DTS-i 135cc (Drum Brake System) is Rs. 144900.

19th Branch of KIST

KATHMANDU: Kist Merchant Banking and Finance Ltd inaugurated its 19th branch office at Banepa on Sunday. The company is planning to open branch offices at Bhaktapur, Ratna Nagar, Koteshwor, Dharan, and Damauli, said it.

DCBL's ATM at Kamaladi

KATHMANDU: Development Credit Bank Ltd on Sunday started its ATM service at Kamaladi. According to a press statement, till date the bank has total paid up capital of Rs 1.1 billion and is planning to distribute 2:1 rights shares. With the permission of Nepal Rastra Bank, the 8th AGM of the bank has decided to rename the bank ‘DCBL Bank Ltd’ from March 15.

Thursday, March 5, 2009

Nepal SBI Bank's 25th Branch

KATHMANDU: Nepal SBI Bank Ltd has opened its 25th branch at New Baneshower to provide quality banking services to its customers. Indian ambassador to Nepal Rakesh Sood formally inaugurated the Bank’s New Baneshwor Branch amid a select gathering on Wednesday.

Bank of Asia in Dharan

Kathmandu: Bank of Asia Nepal (BoAN) inaugurated its branch office at Dharan on Thursday. The bank till mid February registered deposit of Rs 5.23 billion and total credit flow of the bank is Rs 5.19 billion, states press statement issued. It is planning to open its branch offices at Samakhusi, Maharajgunj, Bouddha, Baghbajar, Kausaltar, Narayangarh, Pokhara, Butwal and Nepalgunj.

Bahrain Air's service to Kathmandu from March 17.

Zenith Travels Pvt Ltd — GSA for Bahrain Air in Nepal — is commencing its service to Kathmandu from March 17. Bahrain Air goes to several destinations using its modern fleet of Airbus A320 and A319 aircrafts, according to a press statement. It is commencing its Kathmandu service with three weekly flights, Tue, Fri & Sun, using Airbus A320 or A319 aircraft with 12-premium and 150 economy class seats. Flight B513/514 will leave Bahrain International Airport at 02:35 AM, reach Kathmandu at 10:05 AM local time and leave at 10:50 AM to reach Bahrain at 12:50 PM.

18th Branch of KIST

Kist Merchant Banking and Finance inaugurated its 18th branch at Charikot of Dolakha. The bank that will soon become a commercial bank is also planning to open branch offices at Bhaktapur, Banepa, Ratna Nagar, Koteshwor, Sinamangal, Dharan and Damauli.

Sunrise's 20 Branches within 17 month.

Sunrise Bank Ltd in its 17th month of operations has established 20 branch offices including those at Maharajgunj, Pharping, Bhaktapur, Narayangarh, Birgunj, Sunaul and Bardibas. According to a press release, the bank plans to open 25 branches within this fiscal year. It has collected a deposit of Rs 9.48 billion and within the second quarter of the present fiscal year, it registered an operating profit of Rs 46.7 million. The bank is going to float its own 30 per cent primary shares worth Rs 300 million next month.

Tuesday, March 3, 2009

Syakar, EBL join hands.

Kathmandu, March 3: Padma Jyoti, chairman of Jyoti Group and R K Ummat, CEO of Everest Bank Ltd today jointly launched the Easy Finance scheme for Honda/ Hero Honda motorcycles outside the Kathmandu valley. This is the first time Syakar Company Ltd — the authorised distributor of Honda/ Hero Honda motorcycles for Nepal and Everest Bank have joined hands for a scheme that is aimed at providing Honda/Hero Honda bikes on easy monthly installments to customers outside the Kathmandu valley. Syakar Company Ltd will provide its motorcycles under EBL’s financing scheme with an easy loan at 10 per cent interest, said the company. However, it will provide benefit of one per cent rebate, if a customer follow the conditions of scheme under which 60 per cent of the invoice value of the proposed motorbike or a maximum Rs 1,50,000 will be provided by EBL — to customers for an EMI for a maximum of two years.

Monday, March 2, 2009

Mero Nightspeak

KATHMANDU: Spice Nepal Pvt Ltd has launched its Nightspeak facility for all Mero Mobile subscribers all over the country. The new facility provides Mero mobile subscribers to be able to talk from 10:00 pm to 6:00 am at a low rate of Rs 0.70 per minute, effective from March 1, states a press statement. Mero Mobile also recently announced that Mero Mobile Ramro SIM subscribers can set up to three Ramro numbers and can call these numbers at a minimal tariff of Rs 0.99 per minute, which earlier was Rs 1.99 per minute.

Maatribhumi Bachat Yojana of Citizen

KATHMANDU: Citizens’ Bank International has launched a new scheme ‘Maatribhumi Bachat Yojana’ for people living abroad. Under this scheme, saving accounts can be opened with zero balance at 4.5 per cent interest rate and special facility in remittance service, according to a release.