Mahindra's Rodeo,Dura

Mahindra Two Wheelers, the two wheeler arm of the $6.3 billion Mahindra Group, unveiled two new power scooters -Mahindra Rodeo and Mahindra Duro -- today. With their attractive features, these scooters come with a host of features which makes riding them sheer pleasure. Mahindra Two Wheelers official dealer M/S Shrestha Interna tional Trading Concern announced the launch of both scooters he launch of both scooters which are competitively priced. Mahindra Rodeo comes at Rs 1,45,900.00 and Mahindra Duro comes at Rs 1,34,900. There is a scratch coupon scheme for minimum Rs 3000 to 1,00,000 as a promo scheme.

New Scheme of Annapurna Finance

Annapurna Finance Company Ltd (AFCL) introduced fixed deposit schemes with interest of 10.50 per cent and 11 per cent in one year and two or more year deposit, respectively. AFCL has capital base of Rs 704.3 million. The company earned Rs 30 million profit from Rs 2.45 billion in deposit and Rs 2.93 billion lending.

Sanima Bikas Bank's Maxi Fixed Deposit

Sanima Bikas Bank Ltd has its new Sanima Maxi Fixed Deposit scheme for individual customers designed to serve small depositor. Customers can open account with tenure of one year with minimum balance of Rs 100,000 and highest rate of interest of 10 per cent. Interest is paid quarterly.

Colors'Matrix,Atom

Teletalk Pvt limited, sole au thorized distributor for Colors mobile phones in Nepal, has introduced Matrix, Atom and Star model phones in the market. Matrix is ul tra thin in design, with qwerty key- pad at Rs 5,999. It has dual SIM, Bluetooth, Expandable Memory up to 2 GB and 2-megapixel cam- era with both MP3 and MP4 compatible. Atom has longest battery life up to 45 days along with 2 megapixel camera, Bluetooth, 3D loudspeaker, wireless FM, expandable memory and MP3 player. Atom mobile's range is tagged at Rs 4,199. The Star range G102 comes with FM radio, 300 phone book memory, calendar, large SMS storage, BL-5C battery, multi-charger, built in 3D loudspeaker and games at Rs 2100.

Flydubai debuts here

Flydubai, Dubai's first low cost carrier, landed for the first time at Tribhuwan International Airport (TIA) here today. Nepali travel and tourism entrepreneurs as well as State Minister of Civil Aviation and Tourism Shatrudhan Prasad Singh welcomed its first flight. Universal Tours and Travels is the general sales agent (GSA) of the airlines.

Flydubai CEO Ghaith Al Ghaith was also on board in the first flight. "This is a great time for Flydubai," he said adding that the airlines has already started flights on routes to Khartoum, Baku, Bahrain and now Kathmandu. Flydubai is a Dubai government enterprise which charges $175 for Kathmandu-Dubai one-way ticket.

"Our strategy is to combine well-known routes that enjoy a service from many airlines with routes that are less popular and underserved by the larger carriers. Kathmandu is a great destination with room for more services and I'm confident that Flydubai's simple, low cost fares will prove to be very popular on this route. Nepal is an experience waiting to happen, and we will make it happen," Al Ghaith added.

Minister Singh said, "The commencement of Flydubai's direct connection between Dubai and Kathmandu will provide greater access to the Nepali community in UAE and will surely enhance future trade, commerce, and tourism between the two countries. We are happy to know that Flydubai operating out of Dubai International Airport will pro vide greater access to world travelers from Dubai to Kath mandu with increased conve nience."

Flydubai operates four flights a week to Kathmandu. FZ567 leaves Dubai International Air port Terminal 2 at 7am, and ar rives at 12:40pm Nepali time on Tuesday, Thursday, Friday and , Sunday. The return flight FZ568 leaves Kathmandu at 13:40 pm, arriving in Dubai at 17:10pm.

The Flydubai model is sim ple, with customers paying only for services they want to receive. The price includes all taxes and one piece of hand baggage weighing up to 10 kg per passenger. Passengers have the option to purchase checked-in baggage in ad vance, weighing up to 32 kg.

UTL's generous winter offer

United Telecom Ltd. (UTL) has launched UTL Min-50 Winter Offer reducing the call tariff to 50 paisa per two minutes without taxes. The company is also continuing its Buy-OneGet-One-Free scheme as well ustomers get one U-SIM with talk time worth Rs 600 (UTL UTL) free of cost when buying an U-SIM.

Alpine Air to start regional flights by third week of Jan

Alpine Air Pvt Ltd, a Nepal's international airline company, will start operating flights from the third week of January. "We'll start our regional flights on the Kathmandu-New Delhi-Kathmandu sector. An Airbus 319-100 will be used on this route," said Surendra Malla, MD, Alpine Air Pvt Ltd. The company has invested $11 million, and has leased two Airbuses from Bahrain Air. "We're starting our operation with one aircraft, and will add one more next year," said Malla. According to the MD, the airline has a sufficiently wide network to vie in the competitive market.

Alpine Air Pvt Ltd, a Nepali international airlines, is operating flights from the third week of coming January.

This airlines is starting its regional flights from Kathmandu-New Delhi-Kathmandu route by Airbus 319100, said managing director Surendra Malla.

Alpine Air has an investment of $11 million and has leased two Airbuses from Bahrain Air.
"We are starting operation with one aircraft and will add one more aircraft in 2010," said Malla. According to Malla, the airlines has a sufficiently wide network to compete in this competitive market. Alpine Air will definitely establish itself in the market, he added.

As per the plan, the airlines will start flights to Kuala Lumpur in April 2010 followed by flights to Guangzhou in Chan and Doha in Qatar.
"These are the prospective markets we have explored," he said, "Flight operation on the eve of Nepal Tourism Year 2011 can be an advantage."

Alpine Air's Airbus 319-100 has 132 seats -- 12 business class seats and 120 economy class seats -- suitable for regional flights. The company has not fixed the fare for Kathmandu-New Delhi-Kathmandu flight yet. It is a full service carrier and the fare will be competitive, said Malla.

Opple's CFL bulbs

Explore International, a trading wing of Panchakanya Group has launched Opple Lighting series in Nepal on Monday. Opple brings quality and value to its customers through an integrated system of design, sourcing and highest manufacturing standard.

Opple started operations in 1996 and boasts of a wide range of International standard energy-saving lamps, light sources and fully equipped research and development center. Opple provides excellent lighting solutions for customers. Its products are sold in more than 50 countries. Opple is certificated with ELI, GS, CE, CB, UL&FCC, PAI and RoHS, and ISO9001:2000 issued by TUV, and conforming to IEC60968, IEC60969 standards.

IPO allotted Mahakali Development Bank

Ace Development Bank Ltd, issue manager of initial public offering (IPO) of Mahakali Development Bank Ltd, has allocated 81,800 units of shares. The shares were open to the public from November 2-5 and 62,894 people, including 20 employees have applied for a total 67,92,390 units of shares. Around 4898 people have got shares of the bank from the allotment. Details of share allocation are available on Ace Bank's website or people can also get the result through sending their application via sms to 4242.

NLIC reaches Battar

Nepal Life Insurance Company (NLIC) has expanded to Battar of Nuwakot from Sunday after the opening of its 19th branch. NLIC chief executive officer Manoj Kumar Bhattarai inaugurated the branch amid a function attended by locals.

NLIC has 2,70,000 policy holders and has invested Rs 4.5 billion in NLIC City Center and other sectors.

Enkor's music system here

DRN Overseas Pvt Ltd, the authorized distributor of Enkor brand electronic appliances, launched Enkor music system here today. The music system has three variants -- channel 5:1, 4:1 and 2:1-- and is priced between Rs 1,500 to 10,000.

DRN hoped to be no. 1 in the Nepali market in coming years.

"Enkor will be the best selling music system in a few years," said DRN chairman Durga Bahadur Shrestha. Enkor systems are cheaper than other music systems available in Indian and Nepali markets. It is already a no.

1 brand music system in India, the company claimed.

Enkor music system is available in Nepali market in 21 different models and in black and silver colours.

It has FM radio and perfect digital sound, making it a home theatre.

Gurkha Development Bank in Ghorahi

Gurkha Development Bank (Nepal) Ltd opened its 13th branch in Ghorahi of Dang district on Sunday. The bank, operating since December 2004, gained net profit Rs 30.7 million in the fiscal year 2008-09 from a collection of Rs 4 billion and investment of Rs 3.96 billion. Gurkha Bank has announced 10 per cent bonus shares to its promoters

Rupandehi trade fair 2009 in Butwal soon

Rupandehi Industry Association has announced to invest a certain percentage of the proceeds collected from an industrial exhibition and tourism festival for social development of the area. The association has planned to organize 11th National Industrial Exhibition from December 24 to January 5 with the slogan "Use National Products, Be Proud of Being Nepali". The association said that it will invest a certain amount of the money collected from the entry tickets in social sectors. It said that from every ticket sold it will provide one rupee for green fund, three rupees for Lumbini Zonal Hospital and fifty paisa for the management of the corpse carrier from each ticket. The association said it will grant free entry to those who pay Rs 500 for a proposed heart disease treatment hospital in the district. The organizers plan to collect around Rs 1 million during the fair for the hospital, said association chairman Ejaz Alam. The organizers have completed 60 per cent of the preparations for the exhibition. Varied cultural programmes, including national folk duet, inter-school folk dance, open folk dance will be highlights.

Nepal Business Forum on anvil

Nepal Business Forum on anvil Kathmandu

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The government will establish Nepal Business Forum (NBF) under the chairmanship of Prime Minister Madhav Kumar Nepal to build a better business and investment environment in the country. The Ministry of Finance (MoF) today organized a validation meeting of stakeholders on this issue. NBF, based on private-public partnership, will stimulate dialogue between the government agencies and the private sector. It will identify constraints, limitation and barriers to investment and business and mobilize concerned line agencies to solve the problems. NBF will promote transparency and accountability in business throughout the country and among Nepali parties involved in business overseas. The statue of NBF has five bodies -- general assembly, steering committee, private sector development committee, working groups and the secretariat. NBF will include major ministries, private sector organizations, experts and representatives of civil society. "NBF has adopted a checkand-balance policy for balanced growth," said Pratap Kumar Pathak, secretary at the Ministry of Industry. It will not hamper the growth of public, private and cooperative sectors, he said adding it will also protect the rights of the people. He stressed on greater political consensus on the issue. Political commitment is a must for building a good business and investment environment, he said. Private sector groups -Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Confederation of Nepalese Industries (CNI) and Nepal Business Initiative (NBI) -- have also supported the move. "If NBF works as a lobby group for our private sector, it will really work," said Narendra Kumar Basnyat of CNI. However, FNCCI vice-president Pradeep Jung Pandey voiced doubt about NBF's success. "We are facing a shortage of infrastructure, labour and there are strikes and road blockades. What magic can NBF work?" he asked. Due to these problems, the contribution of industrial sector to gross domestic production (GDP) has reduced from 10 per cent to six per cent over the last decade. National Planning Commission (NPC) vice-president Dr Yuba Raj Khatiwada stressed on making NBF a successful public-private venture. "The Build, Operate and Transfer (BOT) concept is not working properly. I fear NBF could meet the same fate," he said. According to Khatiwada, the government must concentrate on three sectors -- establishment of labour intensive industries, production of energy and physical security of the private sector -- to boost industrial success. Khatiwada said, "If we ignore the unemployment problem, it cold even threaten democracy and the peace process." According to Nepal Labour Survey 2008, 30 per cent of Nepali youths are unemployed and the figure is higher in towns -- 50 per cent. Development partners, supporting the idea of forming NBF, said it would boost the confidence of the private sector to compete in the global market. James Brew, advisor of International Finance Corporation (IFC), said, "It will simplify the investment process and promote export." Chief secretary Madhav Prasad Ghimire said he hoped for NBF's success in meeting its objectives. "If public and private sectors work together, Nepal will progress" he added.

$30m deposit must for foreign banks: NRB

Foreign banks wanting to op- erate branches in Nepal should have deposit $30 million, Nepal Rastra Bank (NRB) governor Bijaya Nath Bhattari has said. They will have to deposit additional $5 million while setting up each new branch from January.

NRB has issued the directives at the contest of full implementation of World Trade Organization (WTO)'s General Agreement on Trade and Services. The agreement seeks no restriction to trade and ser- vices within WTO member countries. Nepal entered WTO on April 23, 2004.

According to NRB, foreign banks should have a good track record for entering the Nepali financial sector. "Credit rating status of BBB/Baa from renowned agencies Moody's, Fitch and Standard & Poor is compulsory for operating in Nepal," it said. Foreign banks can open only one branch in the first phase and NRB will provide extension premise based on their performance.

Foreign banks can do blanket banking including collection and lending services. As per NRB directives, the lending should not be below Rs 300 million and deposit not below Rs 100 million.

The supreme regulatory authority of foreign banks' branches operating here will be NRB. "The banks must follow Nepali financial laws, directives and time-bound orders," NRB said.

A foreign bank shall have the right to transfer profits earned in Nepal to their home countries after permission from NRB which can close down the branch if its parent company is disbanded or liquidated in the country of origin.

Civil Homes' high-end housing scheme

Civil Homes Pvt Ltd today launched a new housing scheme -- bungalows and apartments -- targeting high income people.

The developer's phase IV housing is located in Dhapakhel of Lalitpur district and spread over an expanse of 135 ropanis of land. This phase is targeted at high income people who want to live in state-of-the-art bungalow outside the city, said Civil Homes executive chairman Ichchha Bahadur Tamang.

According to Tamang, the bungalows cost Rs 1020 million based on design and land occupancy while the apartments' prices start at Rs 5 million.

Civil Homes is building 90 bungalows, four 17-storied and two 13-storied apartments along with shopping mall and community centre. Phase IV is being is marketed with the slogan -- City Within The City. The project has total investment of Rs 2.5 billion and is expected to be complete in 2012. Civil Homes is also planning to build low-cost housing soon. If the government provides land at low cost Civil Homes will be happy to build houses for middle and lower-middle class people, said Tamang.

There is demand from hundreds of middle-class people for houses below Rs 3.5 million each, he added.

Flydubai engages with Nepali partner

Flydubai today designated Universal Tours and Travels Pvt Ltd as its local partner for promotion and sales in Nepal. The travel company also represents other international airlines like Emirates and Korean Air here. Flydubai, a low cost airlines, landed at Tribhuvan International Airport on December 15, making Nepal its 11th destination. It is operating flights on four days a week -- Sunday, Tuesday, Thursday and Friday. It is also offering a special promotional round trip fare (Kathmandu-DubaiKathmandu) at NRs 12,184, inclusive of all taxes. This promotional scheme will end on the midnight of December 15.

The airlines is connecting Nepal with Amman, Alexandria, Aleppo, Beirut, Baku, Bahrain, Damascus, Doha, Djibouti and Khartoum via Dubai.

Sony cyber-shot cameras

Nepa Hima Trade Link Pvt Ltd, the authorized distributor of Sony brand electric appliances for Nepal, has introduced two new models -- DSCTX1 and DSC-WX1-- of cyber-shot cameras in Nepali market. This new model integrates Exmor RTM, CMOS sensor and Handheld Twilight function Taking camera style and function to the next level, Sony Singapore has brought two new cybershot models, DSC-TX1 and DSC-WX1, designed to give compact camera users new photo experiences. Combining Sony's exclusive lens, image sensor and processor technologies, the new cybershot cameras will deliver faster image processing and higher quality images. These cameras feature 10.2 megapixel resolution and up to 5x Optical Zoom. Sony's new memory stick PRO Duo 32GB can store up to 5,600 photos and seven hours and 25 minutes high quality video. DSCTX1 is available in gold, blue, pink, grey and silver colours whereas DSC-WX1 is available in silver, black and g o l d colours.

SpiceJet to spice up Nepali air horizon

SpiceJet, India's most preferred low fare airline has announced that it will be flying on short haul international routes including Kathmandu from May-June, 2010 when it completes the pre-requisite of flying for five years before being allowed to operate internationally.

Talking to The Himalayan Times, company vice-president Kamal Hingorani said that SpiceJet will start its daily flight from New Delhi to Kathmandu from June. He also informed that SpiceJet also plans to serve Southeast Asia and Gulf countries from May 2010.

Aiming to deliver the lowest air fares with the highest consumer value, SpiceJet operates a fleet of 19 Boeing 737800/737-900ER aircraft, with 129 flights daily to 18 Indian destinations including Ahmedabad, Bangalore, Bagdogra, Chennai, Coimbatore, New Delhi, Guwahati, Goa, Hyderabad, Jammu, Jaipur, Kochi, Kolkata, Mumbai, Pune, Srinagar, Varanasi and Visakhapatnam.

The Kathmandu flights will see the start of SpiceJet's foray abroad, he added. According to Hingorani, the revised Air Service Agreement (ASA) also makes it easy for SpiceJet to start Nepal operations. Civil aviation officials of Nepal and India on September 10 signed a Memorandum of Understanding (MoU) for the revision of bilateral ASA and a technical accord, facilitating five-fold increase in air seats between the two countries. Hingorani also expressed confidence that the new effort would be appreciated by both business and leisure travellers alike.

Zenith Travel has been appointed the General Sales Agent (GSA) for SpiceJet with immediate effect. "It is an honour for us to represent SpiceJet.

We are very happy with this partnership and expect to meet the growing demands of travellers in the country," said Zenith Travels managing director Joy Dewan. Tourism entrepreneurs are highly encouraged by the announcement. SpiceJet's entry in Nepal is going to cause ripples in the country's aviation and tourism sectors, said Samrat Tours and Travels chief executive officer CN Pandey. The budget airline SpiceJet was also honoured with World Travel Market Award for multi-channel approach in distribution in 2009.

Meanwhile, Kingfisher Airlines, a private Indian airline that boasts of "premium first class service on domestic route", will soon spread its wings overseas with flights to Nepal.

The three-year-old company run by UB Group has begun recruitments in Nepal for flights likely to commence from July-end, sources told.

The first flights will likely be from Mumbai or Bangalore to Kathmandu via New Delhi, sources added. Following its merger with Deccan, Kingfisher now connects 64 cities with 484 daily flights.

On December 2, Jet Airways introduced a direct five-days a week service between Mumbai and Kathmandu. With this service, the number of Jet flights between the two countries has gone up to 26.

Meanwhile, Buddha Air, the country's private airlines, has also said it will start its service from Pokhara to Lucknow of India from the first week of March 2010. It has planned to start with two to three flights a week in the beginning.

India will be the major market for Nepal in the upcoming Nepal Tourism Year 2011 campaign, officials at the Ministry of Tourism and Civil Aviation said. They said that they took positive note of the interest shown by foreign airlines to operate flights in the country in view of NTY 2011 that aims to bring in one million tourists including 2,62,000 from India.

Tourist arrival from India during November was up by 16.1 percent, according to Nepal Tourism Board.

This is the sixth consecutive month that country has witnessed a growth in international tourist arrivals.

Bullion price stumbles, but buyers chary

The Nepali bullion market experienced a sharp price fall this week. The market opened at Rs 28,295 per 10 gram (Rs 33,000 a tola) on Sunday and closed on Friday at Rs 27,565 per 10 gram (Rs 32,150 a tola) -- a sharp fall of Rs 730.

The price fall can be said to be Rs 2,000 if the price were to be compared with last week's. Last Sunday, gold price was Rs 29,535 per 10 gram (Rs 34,450 a tola), a record high price in history. Price fluctuation has shaken buyers' confidence and sale has halved from 25kg daily to 12kg.

Nepal Gold and Silver Dealers' Association (NEGOSIDA) is hoping that there is a rise in gold sale if the price stays stable for a week.

Despite the wedding season, gold sale reduced by 80 per cent over last week.

"Price uncertainty rules the market," said Sunil Shrestha of RK Jewellers, New Road. November and December are major wedding months as per Hindu custom.

Gold price went above Rs 28,000 per 10 gram on three trading days -- Sunday, Monday and Tuesday -and fell to Rs 27,000 per 10 gram on the ensuing days. This Thursday had the lowest price of gold at Rs 27,435 in the week -- from December 6-11. The price again jumped on Friday and gold traded at Rs 27,565 per 10 gram.

NEGOSIDA has linked the price fall to the improving economy of the United States of America. "The gold price is responding to the improving economic status of America," it said in a statement. Gold price in the international market has decreased to US $1,134 an ounce after reaching US $1,214 in pervious week.

Silver price has also gone down this week by Rs 8 per 10g. Silver market opened at Rs 465 per 10 gram on Sunday and closed at Rs 457 per 10 gram on Friday.

ADB-govt joint project may fail to meet target

The skill-development project funded by Asian Development Bank (ADB) and Nepal government cannot its meet target. "We cannot meet the target due to technical difficulties," said Ramhari Lamichhane, Project Manager of Skills for Employment project (SEP) in a press meet here today.

Council for Technical Education and Vocational Training (CTEVT) is implementing the US $25 million -- $20 million from ADB and $5 million from the government -- project since 2006 targeting skill training for 80,000 youths.

SEP aims to provide vocational training tor women and Dalit in 20 districts.

SEP cannot meet target due to lack of coordination among concerned ministries and ill-functioning private centres, Lamichhane said.

The skill development project falls under three ministries -- Ministry of Industry, Ministry of Labour and Transport Management and the Ministry of Education.

We cannot get cooperation from the ministries mainly in expansion of services, Lamichhane blamed.

As per the plan, SEP intends to expand its training in three phases -- five districts in the first and second phase each and 10 districts in the third phase.

"SEP can only provide trainings to 55,000 till the project end in 2011," said Lamichhane.

Till date, SEP has provided skill training to 8,500 women and Dalits who had not appeared in the School Leaving Certificate (SLC) examination due to financial constraints.

"Nearly 4,000 are getting training," he said adding the project has developed syllabi for 52 training sectors in the last three years.

The project has mandatory recruitment of 50 per cent women and 25 per cent Dalits in the training. It means that the failure of the project will directly hit the poor and marginalized groups. "It is a matter of serious concern," he said, "We are doing our best to provide training to the maximum number of people."

People trained under SEP have a good track record.

Around 76 per cent of trained manpower is employed in the domestic and also overseas market. Twenty-six per cent of SEP trainees have got jobs overseas, SEP statistics show.

United Finance Turns 15

Union Finance Limited (UFL) reached to 15 years service on Saturday. The finance company has shifted to a new corporate office at Kamaladi, Kathmandu. The office also shifted its Kathmandu branch offices to the new premises. UFL has paid up capital of Rs 159.9 million and its general reserve stands at Rs.53.4 million. UFL has a deposit base of Rs. 957.8 million and loan portfolio Rs. 1,148.9 million.

SIM cards at TIA

Hotel Association Nepal (HAN), in collaboration with Nepal Telecom, will start distribution of NTC brand GSM pre-paid SIM cards for tourist entering Nepal via Tribhuvan International Airport (TIA) from December 13. HAN's move is aimed at facilitating tourists for better communication facility in Nepal Tourism Year 2011. Earlier, the HAN counter at TIA was used for hotel bookings only.

NIBL marathon for saving heritage

Nepal Investment Bank Ltd (NIBL) is organizing Heritage Marat cember 12 to emphasize the need for conservation of rich heritage sites of Kathmandu valley. NIBL has been organizing such events since 2002. This year's marathon has the theme `Run for Fun' and aims to raise Rs 50 lakh for the preservation of important historical monuments -- improvement of Aryaghat and restoration of Bhai-Degal temple. The marathon has four open categories -- 21 km men's, 10 km women's, 5 km student's and 1 km handicapped's.

Foreigners can participate in two categories -- 21 km men's and 10 km women's. There is a separate distance category for banking and financial institutions covering 10 km for men and 5 km for women.

People above 50 years can run in the 5 km category.

There is no entry fee for participants and over 2,500 people are expected to participate in the marathon.

NIBL is actively involved in heritage preservation. In 2002, it donated around Rs 1.5 million for the restoration of the legendary Kaal Bhairav statue at Hanuman Dhoka. In 2007, the bank raised Rs 2.5 million from its first corporate marathon to aid the restoration of Sundari Chowk in Patan Durbar Square. Heritage Marathon 2009 proceeds will go towards the improvement of Aryaghat, the cremation area at Pashupatinath.

Aryaghat, which was built in the early 16th century, is not equipped to meet the needs of an ever growing population. To make the funeral system more efficient and effective, the bank has decided to fund building of more cremation sites there.

Funds raised will be used for the restoration of 16th century Bhai-Degal temple in Patan Durbar Square that was originally a three storey pagoda structure and which collapsed in the great earthquake of 1990 BS. It now exists now as a mere shadow of its former grand self. arried out by the Katmandu Valley Preservation Trust.

Citizen Bank open two new ATM

Citizens' Bank International Limited has opened two new ATM counters in order to provide personalised services to its customers at Naya Bazar and Dhapakhel, respectively here in Kathmandu Valley. With the two new recently opened ATM counters, Citizens' ATM counters' number has reached 16, said the bank. Apart from it, the bank has been providing other banking facilities from its 17 branches, it said in a statement.

Garima Bikas Limited has completed two years

Garima Bikas Limited has completed two years of operations and entered its third year. The bank has its head office in Waling of Syangja district and has branche offices in Pokhara city, Syangja, Rampur, Galyang and Tansen. Authorised, issued and paid-up capital of the bank is Rs 1 billion, Rs 200 million and Rs 160 million respectively. Bank official Govind Prasad Dhakal said it vested women entrepreneurs with Rs 6 million in loans for business

Sagarmatha Merchant Banking's new branch

The fourth annual general meeting of Sagarmatha Merchant Banking and Finance Limited concluded on Wednesday. Officials of the company announced that they would open new branches at Birtamod, Dharan, Itahari, Sunsari, Biratnagar, Solokhumbu and Salleri. The bank has been providing ATM services and SMS banking facilities to its customers. It provided 10 per cent cash dividend to its customers this fiscal year.

LBL's Green Savings

Laxmi Bank Ltd has introduced Green Savings, an eco-conscious savings account in Nepal from Monday. Under the scheme, people can deposit money at 7.5 per cent interest on daily balances. The account also supports the green cause. According to the bank, there is a growing awareness for the need to act quickly on various environmental issues and it is keen to work together with its customers and make whatever contribution it can towards this cause.

NCC in UNCTAD

Nepal Chambers of Commerce (NCC) is participating in UNCTAD conference in Geneva on December 11. NCC president Surendra Bir Malakar will attend the conference which facilitates transit to landlocked countries. Malakar will also attend the multi-year experts' meeting on transport and trade facilitation to be held in Geneva from December 8-10

NCC Bank's new ATM

Nepal Credit and Commerce Bank Ltd (NCC Bank) added three new ATMs in Birgunj, Thankot and Bhatbhateni on Monday. Nepal Rastra Bank's chief manager Maheshwor Lal Shrestha inaugurated the ATM in Birgunj while NCC Bank's directors Badri Narayan Manandhar and Tirtha Pradhan inaugurated the ATMs of Thankot and Bhat Bhateni, separately. The bank's ATM network has 11 after the new ATMs in Birgunj, Thankot and Bhatbhateni.

Valley Finance Ltd's IPO soon

A special annual meeting of Valley Finance Ltd (VFL) has de- cided to issue 3,84,000 unit shares through initial pub- lic offering (IPO) in the near future. VFL has gained operating profit of Rs 4.713 million in the first quarter of current fiscal year. The finance has capitalization of Rs 128 million.

Yeti Airlines donates million

Yeti Airlines donated Rs 10,79,784 to four social organizations amid a function here today. The airlines gave Rs 2, 69,946 to Helpless Children Welfare Mission, Sewa Kendra Leprosy Relief, Spinal Injury Rehabilitation Centre, Women for Human Rights, each.

Earlier, it had handed over an amount of Rs 11, 37,768 to the above-named four organizations.

In addition, Yeti Airlines has donated Rs 48,12,568 to Tewa, OCCED, Maiti Nepal, Nepal Leprosy Relief, Nepal Glaucoma Eye Clinic (Tilganga) and Sewa Kendra Leprosy.

The airlines is providing 50 per cent discount in airfare to disabled people, 25 per cent to senior citizens and 20 per cent discount to UN-affiliated organizations.

International Development Bank in Inaruwa

International Development Bank Ltd (IDBL) established its second branch in Inaruwa of Sunsari district. Chief District Officer Ram Prasad Thapaliya inaugurated the branch amid a function on Sunday. The bank based in Kathmandu started its service from September 4 this year. The bank s planning to open 20 branches within this fiscal year.

9 Rent a car service starts here

A group of nine Nepali youths has started a professional car rental service -- 9 Rent A car -- in Nepal from today.

The company has a full range of car rental service, from general to ultra-luxury segments.

9 Rent-a-car aims to provide state-of-the-art car rental and leasing service to the tourism sector with personalized service. Apart from this, other sectors like corporate, financial institutes, diplomatic and donor agencies and INGOs can also avail of the service. The company is offering chauffer-driven as well as self-driven service with cars of all makes in Nepal from super luxury segments like Nissan Cefiro, BMW 7 Series; all model of Sedans, Hatch back, SUVs/MUVs, Smaller segment car and coaches. Customers can just call 2199999 or 4466655 to rent a vehicle of their choice.

CNI gets new DG

Confederation of Nepalese Industries (CNI) has got a new director general. Jainendra Jeevan, an academician and writer has been appointed to the post by the CNI board on Tuesday. He has a Master's in economics and experience in public service.

Miteri Development Bank Ltd Shares allotted

Issue manager Ace Development Bank Ltd allotted 1,35,440 unit shares of Miteri Development Bank Ltd at face value Rs 100 each to 6,965 applicants, including 18 employees. The share was on initial public offering (IPO) from October 16 to 23. Some 83,921 people participated in the IPO, oversubscribing nearly eight times.

Yamaha Bike financing

Everest Bank Ltd has tied up with Morang Auto Works for Yamaha bikes financing. P K Pradhan, deputy general manager of EBL and Vishnu Kumar Agrawal, chief executive officer of MAW, signed the agreement to facilitate loans for Yamaha bike purchase. The facility will be available in EBL's branches in Kathmandu valley. The bank will finance 70 per cent of the price or Rs 2 lakh at 10 per cent interest rate. The loan has to be repaid within three years.

Heartening increase in foreign visitors' arrival by air

Figures released by the Immigration Office, Tribhuvan International Airport (TIA,) reveal that visitor arrivals in the month of November 2009, compared to the same month last year, increased by 8 per cent to 39,784.

This November, there was a robust growth of 68.4 per cent and 16.1 per cent in visitor arrivals from China and India, respectively.
Visitor arrivals from Singapore and South Korea registered a positive growth by 38.4 per cent and 34.1 per cent, respectively. In aggregate, the Asian segment registered a positive growth of 20.2 per cent.

In the SAARC region, arrivals from Bangladesh and Sri Lanka registered positive growth by 28.6 per cent and 10.1 per cent, respectively. The only market to decline this month was Pakistan by 17 per cent. In aggregate, the South Asian segment registered a positive growth of 16 per cent.

An overall positive growth of 5.5 per cent was observed from European markets, with arrivals from Belgium, Sweden, Israel, Germany, Italy, and the Netherlands up by 38.3 per cent, 27.9 per cent, 16.7 per cent, 2.1 per cent, 30.5 per cent and 8 per cent respectively. However, arrivals from the UK, France, Austria and Norway registered a negative growth of 5.5 per cent, 9.8 per cent, 20 per cent and 5.8 per cent, respectively.

Tourist arrivals from Australia, New Zealand, Canada and USA also registered robust growth of 27.8 per cent, 14.8 per cent and 3.8 per cent respectively.

This is the sixth consecutive month that Nepal witnessed positive growth in international tourist arrivals. The growth from India and China has been a major contributing factor in overall increase in visitor arrivals.

This underscores that regional tourism can play a pivotal role in increasing overall visitor arrivals in Nepal. Nepal Tourism Board has strategically segmented India and China as prime markets and accordingly has given higher priority in carrying out promotional activities in these markets. The growth from China and the Netherlands can be safely linked to the addition of two new airlines in 2009.

Some 55,218 foreign tourists left via TIA in November. The number of Nepalese arrivals was 46,130 and departures 58,567. Meanwhile, 9444 foreign nationals and 96 SAARC nationals entered Annapurna Conservation Area and 211 foreigners entered Manaslu Conservation Area in the month.

Low-cost houses for Dalits soon

The government will abide by its social responsibility to Dalits and marginalized communities, said Finance Minister Surendra Pandey. "We are going to build 3,000 low-cost houses for Dalits of Siraha, Saptari and Kapilvastu districts," he said in a press meet here today.

In the first phase, 320 houses will be built in Dom villages of Saptari district, he said adding construction will start next month. The government has developed two models of low-cost houses which cost Rs 60,000 and 1,20,000, respectively. Finance secretary Rameshwor Khanal said the government will provide subsidy on compost fertilizer. "We have taken this initiation to enhance soil productivity," said Khanal. As per the plan, the Ministry of Finance (MoF) will provide 50 per cent grant in establishment of a compost fertilizer plant and 15 per cent subsidy on the product.

Moreover, the government will provide work to over 20,000 people in development projects in the fiscal year 200910. The new budget has promised to provide 100 days work to 50,000 people.

MoF is studying mega projects to meet the target, said Pandey.

However, the government has not achieved all economic targets set for the first four months of the fiscal year. "Development projects are at a satisfactory level and we can meet the target by this fiscal end," he told the media about progress in the first four months.

FM Pandey said price hike stepped down by one digit, which was two digits since last year. Export reduced but import grew significantly. "It is a challenge to increase the export volume," he said, Foreign exchange reserve has also gone down in the period.

The government expended Rs 45.72 billion until November 27. However, the capital expenditure is limited to Rs 7.12 billion. MoF has collected Rs 50.38 billion revenue, which is 34.3 per cent more than the preceding fiscal year.

Inauguration of a fast-track road between Kathmandu and Nijgadh, embankment in Bagmati, Kamala and Triyuga rivers and Upper Tamakoshi hydropower are achievements of the government. It has selected 919 projects in conflict-affected zones, among which 409 are in operation. The government has also finalized the initial process of distribution of bio-metric identity cards for Nepalis.

Safety's new range

Jasmine Hygiene Products, a subsidiary wing of Sarda Group of Industries, has launched its new products -- Safety Wings and Safety Dry, extensions to the already popular brand line Safety sanline Safety sanitary pads.

Safety sanitary pads have recently come up with a new marketing tagline, "Awashyakta Harek Naari Ko". With the introduction of the new range, it now has a range of six products -Safety Regular, Safety Ultra, Safety Eco-ultra, Safety Swing, Safety Wings and Safety Dry, giving consumers a wide variety to choose from as per individual requirement.

The products are said to have been designed dually considering the comfort and hygiene necessities of women.

Both Safety Wings and Safety Dry are available in packs of 8 pads, priced at Rs 55 and Rs 45, respectively.

Private sector can run stock exchanges

The government has decided to allow the private sector to operate stock exchange market. Till date, it is the government-run public sector that has been operating the bourse.

The way for the private sector opened after the Security Market Operations Regulation 2064 BS came into force.

This regulation was brought citing that the economy would not prosper unless there was healthy compitetion.

Altogether 18 companies have jointly submitted an application to the governmentn asking it to allow them to operate new stock exchange markets.

These companies include banks, financial institutions, life insurance companies, nonlife insurance companies, stockbrokers and commodity exchange firms.

The founder members of the proposed stock exchange market are Asian Life Insurance Company Ltd, Commodities and Metal Exchange Nepal Ltd, Mahalaxmi Finance Ltd, Himchuli Bikas Bank Ltd, Guheshwori Merchant Banking and Finance Company Ltd, Butwal Finance Ltd, N L G Insurance Company Ltd, Subhalaxmi Finance Ltd, Birgunj Finance Ltd, Siddhartha Finance Ltd, Tribeni Bikas Bank Ltd, Premier Finance Ltd, CMB Finance Ltd, Central Finance Ltd, Premier Insurance Company Ltd, Sagarmatha Insuarance Company Ltd, Siprawi Securities Pvt Ltd and Lalitpur Finance Ltd.

Shah appointed NBL CEO

Nepal Bank Nepal Limited has appointed Anil Shah as the CEO of the Mega Bank Nepal Limited.
Mega Bank Nepal Limited is the nation's proposed largest A level bank that will come into execution from January onwards.

Mega Bank president Prof Dr Madan Kumar Dahal and CEO Anil Shah jointly signed the agreement paper on Monday. Prof Dr Dahal has committed to create an environment for Shah to work and at the same time Shah said he will utilize his knowledge to perform his best to achieve best possible results.

Can't nix Airbus deal: NAC chief

The government cannot back out of the Airbus deal, said national flag carrier Nepal Airlines Corporation (NAC) executive chairman Sugat Ratna Kansakar in the Public Accounts Committee (PAC) hearing today. He added that NAC has no alternative but to go forward.

NAC has given slot money Rs 55 million to Airbus to buy two aircraft -- one A330-200 widebody plane and one A320 single aisle jet -- after the initial agreement during the Dubai Airshow in mid-November. PAC is investigating the case on suspicion of fraud since the beginning.

Kansakar denied commission was taken or that any irregularity was committed in making the deal. "It is a direct deal and there was no commission," he said in front of PAC. Budget 2009-10 has made special arrangement of Rs 10 billion for NAC to buy two aircraft on state guarantee. But the state has not decided any guarantee yet.

NAC cannot buy planes without the state guarantee because of its own weak financial status. The national flag carrier has outstanding debt over Rs 3 billion compared to its total assets of Rs one billion.

The potential financer, Provident Fund (PF) is also seeking security of its investment.

NAC's new management has submitted a business plan which shows profit from the first year of operation. "It is difficult to the trust NAC plan", said a PAC member.

"How can a chronically sick company stand on its own feet in a year?" he asked.

Responding to the query, Kansakar said that he will get profit through complete revival of staffers and adding new human resources. "NAC is planning to recruit the best human resources from the market," he said. Management reform is necessary for profit, he added. PAC members stressed on changing the market strategy of the national airlines. They said NAC should focus on regional markets like China, India and Gulf countries rather than Europe. "Developing confidence within the region and thereafter going beyond can be beneficial for NAC," said a member.

Finally, PAC reserved the decision on NAC until final consultation. "The committee wants transparent deal between Airbus and NAC, nothing else," said PAC chairman Ram Krishna Yadav.

PAC will give the final verdict after consultation with PF, experts and Ministry of Finance.

Sunaulo Nepal Multipurpose's bonus

The second AGM of Sunaulo Nepal Multipurpose Cooperative Ltd (SNMCL) has decided to distribute 10 per cent dividend to shareholders. SNMCL has share capital equal to Rs 26,55,000 and transaction in the last fiscal year was over Rs 10 million.

Lumbini bank in profit

Lumbini Bank Ltd gained operating profit of Rs 218 million in the first quarter of the current fiscal year. It is 53 per cent more than what it was in the same period of the preceding fiscal year. The net profit of the bank also increased to Rs 165.40 million from Rs 107.50 million during the same period.

Nokia iLife offer

Nokia mobile has come with iLife offer. Under the scheme, one can bring any old mobile set and get themselves a brand lves a brand new Nokia N95 or N81 in exchange.

The offer is exclusively valid at iLife, digital lifestyle located in NLIC City Center, Kamalpokhari and is valid till stocks last.

Yamaha's buy-back

Morang Auto Works (MAW), the sole authorized distributor of Yamaha motorcycles for Nepal, has launched Yamaha Alba buy-back scheme. This is the first time in the history of automobile industry in the country that this kind of scheme is provided by the company to its customers, it said. Under the scheme the company buy back Alba motorcycle for Rs 1,00,000 within a year of purchase, Rs 80,000 in second year and Rs 64,000 in third year.

Capital expo in December

Securities Research Center and Services (SRCS) is going to organize a capital expo on December 25-27 in Kathmandu. It is the first exhibition of its kind which aims to bring all Nepali fibring all Nepali financial sectors under one roof. Around 70 banks, fi- nancial institutions, insur- ance companies, cooperatives, derivatives, merchant bankers, money transferers and financial training institutions will participate in the expo which will also organize policy debates in financial sectors. The expo will inform people about capital market. Capital market regulators like Seregulators like Securities Board of Nepal, Bima Samiti and Nepal Stock Exchange Ltd will also participate.

CNI urges Rawal for stern action

A delegation led by Confederation of Nepalese Industries (CNI) president Binod Chaudhary met Home Minister Bhim Bahadur Rawal here today to highlight the deepening crisis in Birgunj area. The delegation elaborated in detail the rapidly deteriorating law and order situation in Birgunj and surrounding areas.

CNI members pointed out that threats, extortions, kidnappings and other criminal activities were on the rise, making it impossible for industries and businesses to operate in the area. Further, the constant closure of Birgunj customs has been resulting in huge losses to the already burdened business community, and also in losses to the national exchequer. The delegation stressed that the situation had become critical, and immediate action was needed.

Home Minister Rawal assured the delegation that the concerns raised by them were of equal concern to the government. He said several initiatives were already in play to streamline the security situation. And now, with the budget having been passed, these initiatives would very soon show clear results and there would be an immediate improvement, he said.

Minister Rawal, in no unclear terms, clarified that the government would not tolerate any kind of criminal activity, regardless of their political and other affiliations. The ongoing initiatives include a longer overdue reshuffling of the police force and establishment of industrial security body among others. The delegation also told the minister that some sort of visible and immediate action was needed to restore the confidence of the community.

Minister Rawal promised them the same, and is sending a high level police delegation to the area tomorrow. Also, in the next two weeks he has agreed to hold an interaction programme in the area with the local business community to understand its problems in detail.

CNI vice-presidents Birendra Kumar Sanghai, Anuj Agrawal, Rajkumar Agrawal, governing council members Shreedhar Acharya, Vijaya Shah and National Council Member Satish Kumar More were also present in the delegation.

StanChart bags The Banker's Bank of the Year 2009 award

The Banker magazine has awarded Standard Chartered the prestigious `Bank of the Year 2009' award for Nepal. The award reflects Standard Chartered's growth in Nepal, as a key part of its long-term strategic commitment to Asia.

The award comes on the back of a strong performance that the bank achieved during the fiscal year 2008-09. The bank has rewarded its shareholders by providing a cash dividend of 50 per cent and issued bonus share of one for each two shares held.

SCB Nepal continues to be one of the most respected and reputed brands in the country, with robust governance and compliance standards.

The bank today commands a strong share of the total market capitalisation which exceeds 10 per cent Standard Chartered was also named as `Best Bank for Asia' -- cementing its position as the one of the leading banking groups across Asia.

Banker's Bank of the Year Awards are regarded as the industry standard for banking excellence.

The winners are judged by their ability to deliver shareholder returns and gain strategic advantage.

Standard Charted chief executive officer Sujit Mundul said, "We are delighted with this victory, and are excited about the future of Standard Chartered in this region. The award recognizes our strong performance over the past 12 months, and supports all our successes and efforts during the difficult operating environment."

Likewise, Jaspal Bindra, CEO Asia, Standard Chartered, comments on the achievement saying, "We are extremely pleased to receive the Banker Award for Best Bank for Asia.

Standard Chartered has been conducting business in Asia for more than 150 years.

The key for us has been to remain focused on our strategy - we do business in markets we know, deal in products we understand and engage with clients with whom we have deep relationships. Our strategy has enabled us to emerge strongly from the crisis, and Standard Chartered is well positioned for growth given our presence and expertise in Asia."

Nabil CEO Shah quits, to join Megha Bank

The desire to take up new challenges led me to quit the Nabil job, said Anil Shah, outgoing chief executive officer (CEO) of Nabil Bank Ltd. Shah had been serving Nabil Bank Ltd since January 15, 2004 before his resignation on Friday.

While approving Shah's resignation the 321st meeting of board directed Amrit Charan Shrestha to work as officiating CEO. Shah worked in Nabil Bank as CEO since May 1, 2005.

Shah, one of Nepal's renowned bankers, is moving to Megha Bank, which is expected to open in late January next year.

The bank has 1,228 promoters from different castes, ethnicities and professions of 62 districts of Nepal. "It is a challenge to me to manage diverse groups of promoters," Shah said, "I want to prove my ca- pacity there."

He added, "The bank has new visions in banking and I love their principles. Megha can provide me a better opportunity to prove myself." However, he did not elaborate on the issue. "We will talk about it in Megha Bank," he responded to a query on the issue. Megha Bank and Shah have signed a five-year contract with a three- year mandatory service period as CEO to avoid uncertanities. The outgoing CEO thanked Nabil Bank for his overwhelming success. "I am Anil Shah only due to Nabil Bank," he said, "Nabil's board and staffs helped me." Nabil Bank is the first choice provider of complete financial solutions among Nepali banks.

Nabil Bank got tremendous financial success during Shah's tenure. Net worth increased by 111.20 per cent between 2004 and 2009. Deposit and loans grew to 164.52 per cent and 227.51 per cent, respectively.

Likewise, net profit doubled in the period from Rs 455 million in 2004 to Rs 1,031 million in 2009.

A dispute between Nabil's board and Shah cropped up has started after Shah applied for the post of CEO of Nepal Bank Ltd (NBL).

"Yes it is true, but it is not the entire cause of my resignation," he said, "I am leaving the bank to brace for new challenges." Nepal Rastra Bank had called a proposal from Nepali bankers to revive NBL this year and Shah had applied for it.

Shah said that Nabil would do well in the coming years on the strength of its composite team. Banking is teamwork and Nabil has the required wealth, he added.

BURNING CALORIES - THE STEX WAY

EXERCISE does not just mean pumping irons and sweating under the weights.

With development in different modes of transportation people have forgotten or let's just say lost their habit to walk resulting in a `larger' population and unnecessary lifestyle diseases. And to burn off those excess unwanted calories and kilos, health clubs and spas have been attracting good business. And if you are aiming for such a fitness class or planning to tread the mill, then you would most probably be walking off your extra ounces on a Stex product. Stex is a South Korean brand the name of which is synonymous with quality and durability .

Shaping Nepali health Even the most expensive fitness centres and clubs in the Valley have recommended the product line of this brand. In Nepal, this brand has survived and is still going strong for a decade now. Spectrum Merchandise Pvt Ltd has been importing Stex fitness products like cardiovascular equipment from their mother factory Taeha Mechatronics Co in Korea. With the establishment of the company in the year 1995, they have been distributing their heavy fitness products all over the world.

"When we brought Stex products in the Valley , we didn't have trouble convincing people about the brand. Many were aware of the brand and it's worldwide recognition," said Amrit Nath, Service Engineer of the Spectrum Merchandise. "As for the others, they came to know about the quality and the durability of this brand after using it."

They have put up their product showrooms in three of the happening shopping centres of the Valley -- United World Trade Centre, Tripureshowr, Bhat Bhateni Supermarket, Maharjgunj and NLIC City Centre, Kamal Pokhari. They are distribut- ing their products outside the Valley as well.

Inspired by Indian market In India, Stex brand is largely popular and is recommended in most of the top fitness and body workout centres. "With this visible fact of good market for the brand in India, we had the inspiration to include these products in Nepal also and it seems the trend of gaining popularity is also being followed here," said Nath.

Making facts more clear about the brand products Nath added that Stex products does not include all the necessary gymnasium equipment but only heavy workout machineries. Stex brand products are categorised into three series -- cardiovascular, commercial and rehabilitation groups under which there are three product lines -- treadmills, cycles and cross trainers. According to Nath, they have been only importing the cardiovascular series with varieties in every product series.

Exercising every body part Every product runs on electric mechanism. "From this point of view, I see power consumption as the only burden.

All these heavy fitness products come with quality investment with a life-time warranty," said Nath.

Treadmills or the running motor boards are especially built for indoor running as are the electric cycles and the cross trainers. Cross trainers are the tall running fitness machines that not only build your foot power but the whole body movement as well. According to Nath, treadmills are the most sold products in most of the hotel clubs and fitness centres in the Valley.

Stex-X6 treadmill is one of their latest and the best selling product.

Besides exercise or running, every mechanism is automatic and programmable with a digital monitor placed in the front of the machine.

The digital monitor shows the speed, distance travelled, heart beat rate, time taken and calories burnt. Moreover, if you want to run in the hard mode, you can just adjust the inclination as per your wish.

"All these machines come with alternate current (AC) motors which assures a lifetime guarantee of the products," said Nath, which he added is not possible with DC motor run fitness products.

Regarding market competition, Nath said they have "never felt any competition".

"First of all, there are not many companies dealing with fitness products and moreover I don't see other products that can overtake our brand for the quality and durability of the products," said Nath.

KFC, Pizza Hut in Kathmandu

THEY ARE here. the two giants of multinational fast food sector that had created quite a buzz in the town with the news of their opening in Nepal finally opened shop on November 22.

After much speculation, the outlets of first ever multinational eatery in Nepal -- Kentucky Fired Chicken (KFC) and Pizza Hut was inaugurated by Randy Berry, Charge d'Affaires of US Embassy.

These two renowned brands have been brought to Nepal by Devyani International, a subsidiary of RJ Corp, which is the largest franchisee for YUM! brands, the parent company of Pizza Hut and KFC. RJ Corp is also the biggest bottler of Pepsi brand in India and Nepal.

The financial partner of Devyani International in this venture is NMB Bank Limited.

"We are sure that the fingerlicking good KFC, mouth-watering pizzas of Pizza Hut and yummy ice-creams of Cream Bell will bring cheer to children, adults and the whole family. Also the vibrant and exciting in-store experience is something everyone will certainly enjoy," said Chairman of RJ Corp, Ravi Kant Jaipuria at a press meet held before the soft launch of the outlets. "Consumers in Nepal are ready for an international eating out experience," he said referring to their choice of venturing into Nepal.

According to Jaipuria, both the outlets have a 100 per cent Nepali staff, who have been completely trained by experts. Pointing out the employment opportunities that these two outlets have offered he added, "Each outlet has around 100 staff members, so this venture is also creating employment for the local people. All the staff from the managerial level to others consists of local people."

It was also made clear at the event that this is just the beginning for the company as they plan to open more outlets. However, they will be focusing in Kathmandu only for at least one year.

A benchmark in `quick-service restaurant', KFC has been delighting customers all over the world with their original recipe of fried chicken and signature dishes like Zinger Burger for more than five decades.

Pizza Hut has won hearts of many foodies with their All American Pan Pizza, salads, soups and desserts in around 91 countries.

Both the outlets located at Annapurna Arcade in Durbar Marg have been overflowing with customers from the day it opened for the general people on November 25.

Samaritan Bigmart

Bigmart, a shop at NLIC City Center in Kamal Pokhari, and City Center on Saturday helped 70 children aged between five to 15 years, who suffer from muscular dystrophy. The two business organizations provided Rs 10,000 for a health camp. Ina separate gesture, Bigmart distributed gift hampers to the children.

WEEKLY SHARE UPDATE - The bear has Nepse in a bear-hug

The bearish trend continued in the Nepali capital market and Nepal Stock Exchange (Nepse) index dipped by 27.79 points to drop to 534.32 points this week.

Nepse is in a bearish trend since September. The trading floor opened at 562.11 points on Sunday.

Shares of 91 companies were traded this week -from November 20 to 26 -worth Rs 276.8 million.

Around 5,62,000 unit shares were traded in 4,910 transactions during the period. The transaction amount was 3 per cent lower than last week. Shares equal to Rs 268.7 million were traded last week in 4,521 transactions of 7,77,800 share units.

Commercial banks were the biggest losers this week.

The Nepse index of the group lost 36.67 points while development banks lost 34.46 points. Nepse's sensitive index, which measures the performance of class `A' companies, went down by 9.16 points and dropped to 131.53 points this week. The float index also dipped by 2.58 points. Phewa Finance Ltd ranked top in Nepali capital market in amount and unit shares transactions.

Total 1,64,000 unit shares traded on the Nepse trading floor which equalled Rs 37.87 million. Prime Commercial Bank Ltd ranked top in transactions (817).

Top five trading companies of this week -- from November 20 to 26 -- were Phewa Finance (Rs 37.87 million), Bank of Kathmandu (Rs 27.99 million), Prime Commercial Bank (Rs 23.49 million), Nepal SBI Bank (Rs 16.98 million) and Standard Chartard Bank (Rs 13.79 million).

Rights shares of three financial institutions were listed at Nepse this week. The list includes 7,50,000 unit shares of Sagarmatha Merchant Finance, 4,19,098 unit shares of Premier Finance and 6,00,000 unit shares of Excel Development Bank.

Nepal-India to adopt GCI measures

To reduce greenhouse effects and climate change, Nepal and India are embarking on the path of increasing vigil on the common borders under the green custom initiative (GCI). In this regard, bilateral dialogue will be held at Allahabad of India between November 30 and December 2.

Most environmental problems have a trans-border nature and global impact. Illegal international trade in environmentally sensitive items such as ozone-depleting substances (ODS), harmful chemicals, hazardous wastes, and endangered species is a large and increasingly lucrative business. It directly threatens human health, deteriorates the environment, contributes to species loss, results in revenue loss to governments and seriously undermines the effectiveness of multilateral environmental agreements (MEAs).

The ODS also contribute to global warming. Evidence exists that organised crime groups are involved in this low-risk but high-profit business. These global environmental crimes call for urgent global coordinated responses, said an official involved with the dialogue.

Customs and border protection officers constitute the frontline of every country's defence against transboundary illegal trade. They are the first link in the compliance and enforcement chain, and without adequate capacity to prevent or detect illegal trade, the rest of the chain will be considerably less effective. Building the capacity of these officers, therefore, is vital.

GCI is an unprecedented partnership of international organizations, whose objective is to enhance the capacity of customs and other relevant enforcement personnel to monitor and facilitate legal trade and detect and prevent illegal trade in environmentally sensitive commodities covered by relevant conventions and MEAs. This is achieved through awareness raising on all relevant international agreements as well as provision of assistance and tools to the enforcement community. It is also complementing and enhancing existing customs training efforts under the respective agreements.

Partners of Green Customs Initiative comprise Basel, Cartagena, CITES, Montreal, Rotterdam and Stockholm agreements, Interpol, the Organisation for the Prohibition of Chemical Weapons, UNEP, UNODC and World Customs Organisation (WCO).

Purvanchal Mahotsav enthuses people in the region

Enthusiasm runs high in the eastern region for the Purvanchal Mahotsav that will open soon.

Preparations for the Mahotsav to promote commercial and industrial development are picking up pace. Local manufacturers and businessmen are hoping their products will get access to the market. Ananta Bista, proprietor of JBS Industries, a silver sponsor, said he was a silver sponsor in a similar Mahotsav held two years ago. He said, "In this Mahotsav, we will have direct access to customers and can learn a lot about improving the quality of our products."

Nirmal Rijal, proprietor of Healthy Food Products, which is also the producer of Oven Fresh Biscuits and golden sponsor of the Mahotsav, said it would provide an opportunity to learn about the expectation of the consumers.

Ganesh Dahal, executive officer of Itahari municipality, said the Mahotsav will be instrumental in the economic, social and cultural development of the municipality. "Not only will it accelerate economic transactions, it will also create emotional unity among locals through cultural exchange," Dahal said.

Publicity commitee member Jagadish Sapkota said, "We have divided our work, forming 16 committees, and everything has been made systematic."

He added that the cooperation of local journalists was a welcome factor. Nearly two lakh visitors are expected to visit the Mahotsav and transaction worth Rs 40 million is also expected. Tanka Dulal, coordinator of the main coordination committee and president of Itahari Chamber of Commerce and Trade, said earlier everything was done on contract but this time they are doing everything themselves.

Handicraft and agricultural producers have booked 10 and 15 stalls, respectively. Five stalls have been booked by producers of herbal products. Khagendra Thapa Magar, the shortest man in the world, will be at the Mahotsav.

Local journalists and artistes too are looking forward to the Mahotsav. Badri Bishal Pokharel, literateur and professor, said the Mahotsav will act as a forum for establishing relationship of locals with artistes and creative persons at the national level.

Musician Raj Kumar Rajdhami said the Mahotsav will promote cultural shows of different ethnic groups. Senior journalist Yam Pradhan said its coverage will promote development activities in the area.

Organizers of the Mahotsav are Itahari Chamber of Commerce and Industry, Ministry of Commerce and Supplies. Co-organisers are Sunsari District Development Committee, Itahari municipality and Agricultural Profession Promotion Programme. The main sponsor is Sukam Power Company while the diamond sponsor is Jagadamba Steels and gold sponsors are Healthy Foods Products and Herber Cosmetics.

Silver sponsors are PLO Lubricants, Toyaota House, JBS Industries, Pathibhara Lila traders and Asian Thai Foods Pvt Ltd. The official bank of the Mahotsav is Bank of Asia while the official media is Annapurna Post daily.

Agni cement launched

Agni Cement Industries Pvt Ltd (ACIPL) has launched Agni brand -- Ordinary Portland and Portland Pojolana -- in the market.

Both types of cement are suitable for all kinds of structures including house, road, bridges, irrigation canal and commercial buildings, the company said.

ACIPL has a production capacity of 300 metric tonnes per day.