Monday, August 31, 2009

LaCie Bonanza Offer

LaCie mobile has offered various schemes for its different mobile set models. According to the new offer, LaCie 160GB Mobile USB Drive (with VAT) costs Rs 6,800, LaCie 320GB Mobile USB Drive (with VAT) costs Rs 8,000 and LaCie 500GB Desktop Drive (with VAT costs 9,500. They all come with one-year warranty and the new price lasts till stock remains, said the company.

Extortion Slur on Political Parties

Nepal Trans Himalaya Border Commerce Association (NTHBCA) and Sindhupalchowk Chambers of Commerce and Industry (SCCI) have accused the political parties of collecting various taxes on the import and export of goods from/to China via Tatopani point and thence on the way to Kathmandu.

Countering the accusation, CA member from Sindhupalchowk Keshav Nepal said that these associations are to blame for such activities as they themselves are permitting the establishment of parallel associations and collecting money from entrepreneurs at the Tatopani border in turn. He also alleged that these organizations are not doing anything for the development of Sindhupalchowk district and that they do not include small entrepreneurs in their associations.

NTHBCA president Durga Bahadur Shrestha reacted saying that his association has been inclusive in this matter and that it is the political party members who should be more responsible.
He also said that till date some 5000 members are in the association which has been providing employment opportunities to many people. He added that due to the chungi (border point) tax, the total import has decreased from 75 per cent to 25 per cent at present state. "Apart from it, the syndicate system has not been removed from Tatopani customs point. That has added to the difficulties of the enterpreneurs,"
said Shrestha. He said that the association is preparing various plans to develop Sindhupalchowk as a `special economic zone' and that it has been doing business through TT Draft and Credit for small entrepreneurs.

CA member Nepal said that the association should introduce a system of public auditing and bring transparency to its dealings. He pointed out that it was a matter of great concern as it involves the public more than it does the business entrepreneurs.
He, however, admitted that many organizations, including police and many members of political parties are embroiled in this.

UNITE Calls for Five-Year Green Campaign

Union for National Industry Trade and Entrepreneurs Nepal (UNITE) has urged the government to adopt a green revolution campaign for the next five years. In a press meet here today, UNITE demanded integrated development policy for agriculture and industries.

"The government must focus on green revolution for the next five years," said UNITE president Kamal Kharel. "The revolution must target surplus food production along with establishment of agro-based and herb-based industries," he said. Without industrializing and commercializing the agriculture sector the country's development cannot be sustained, he added.

Around 66 per cent of Nepalis are dependent on agriculture and the sector contributes 32 per cent to Nepal's gross domestic production (GDP). Though agriculture sector reforms is a priority programme of the government it has allocated only a minimum budget for it -- Rs 8.6 billion. "This is not enough, the agriculture sector must have at least 20 per cent of the budget,"
Kharel said.

The government has allocated Rs 100 million for the promotion of cash crops -- tea, coffee, ginger honey and fruits -- in the budget 2009-10.

"How can we promote these sectors with a meagre budget?" asked Kharel. "If the government wants development which would be tangible, it should target two sectors -- green revolution and hydropower," he said.

According to UNITE, the government must adopt five and ten year plans for bring ing a green revolution and energising the hydropower sector. Without electricity, the establishment of indus, tries is impossible so the con centration must be in energy sector, said UNITE. Over 50 per cent of the development budget should be set aside for agriculture and hy dropower sectors to build the foundations of industrializa tion, it urged.

LIC Nepal to Give dividend

The 40th board of directors' meeting of LIC Nepal Ltd has agreed to provide a cash dividend of 20 per cent to its customers. "The decision is subject to approval from the insurance regulator, Beema Samiti, and the annual general meeting of the company," said LIC Nepal.

NIC Opens 22nd Branch at Narayanghat

NIC Bank opened its 22nd branch at Narayanghat on Monday. The branch provides a full range of products and services including modern banking facilities. It is connected to all other branches through a V-SAT network enabling real-time online connectivity. The bank, running in profit, will open branches at Teku and Malangwa also. Its NPA currently stands at a mere 0.9 per cent.

Bank of Asia Announces Cash Dividend

Bank of Asia Nepal (BoAN) in its 47th Board of Directors meeting on Monday announced cash dividends of five per cent from the profit of fiscal year 2008-09. "The disbursement of dividendd will be subject to approval from Nepal Rastra Bank and the bank's annual general meeting," said the bank.

Kia Launches First HEV

Kia Motors unveiled its first commercialized Hybrid Electric Vehicle (HEV), the Fort Liquid Petroleum Injection (LPI) Hybrid, in Seoul.

The Forte LPI Hybrid is the newest addition to the Kia stable, which includes both gasoline-powered 4door sedan and sporty coupe versions. Kia Motors invested approximately US$180 million over a period of 25 months to develop the eco-friendly forte LPI Hybrid. It has a fuel efficiency rating of 17.8 km per litre.

Additionally, with CO2 emissions of just 99 gram per km, the forte LPI Hybrid qualifies for billing as a Super Low Emission Vehicle (SULEV).

The car utilizes a 1.6litre Gamma LPI engine with an independently developed continuously variable transmission (CVT) and hybrid system, comprising an electric motor, inverter, converter and 180 V lithium ion polymer battery.


Laxmi InterContinental Pvt td -- the official partner or Hyundai in Nepal has launched Hyundai brand new car i20 in Nepal. The `i' series cars are popular in the global automobile market and in the domestic market as well, the company said.

"It is efficient, economic and available at a reasonable price,"it said. According to Laxmi InterContinental, i20 is designed for the working people and the family as it is more comfortable.

i20's front headlight and bonnet are attractive and give the look of a luxurious car. The car has received huge accolades in the NADA Auto show that is going on in Bhrikuti Mandap in Kathmandu from Friday.

Hetauda Industrial Estate Getting Regular Power Supply

Nepal Electricity Authority (NEA), Hetauda is supplying regular electricity to Hetauda Industrial Estate by joining a new feeder .

NEA has invested Rs 3 million for supplying electricity with the separate feeder to the industrial estate. Fifty-nine small and large industries are operating in the industrial park. However, 16 industries have closed due to economic crisis, said the Hetauda Industrial Estate Management.

At present, three different new companies have started construction of buildings for operating new industries. Also, six entrepreneurs have registered applications seeking land for building to establish new industries. More than 7,600 employees have directly benefited from the industries run in Hetauda Industrial Estate.

Industrial estates across the country have been facing the problem of power supply. Balaju Industrial Estate, Patan Industrial Estate and Kathmandu Industrial Estate are also reeling under power shortage while industrial estates out of the valley are also hit by power outage.

Honda Hornet Has The Sting!

Honda Hornet CB600F 2009 has made its way into Nepal.

The latest sensation from the family of Honda has been kept on display for the public by authorised distributors of Honda cars and motorcycles, Syakar Company Ltd, at the NADA Auto Show.

It is the bike that started motorcycling's `streetfighter' phenomenon across the world. The Hornet CB600F was introduced to the Honda range in 1998. It's aggressive `streetfighter' looks were coupled with a tweaked CBR600F motor optimized for low to midrange torque making it a real fun ride both around town and on winding A-roads, said the company. With one of the most impressive power-to-weight ratios in its class, not to mention its light and responsive handling and racerlook wheels and tyres, the everpopular Hornet lets the whole world know it's loaded for highspirited thrills and the ultimate in riding fun.

Hornet is known worldwide for its strong, sultry and seductive looks as well as its performance.
This bike is slimmer, lighter, more powerful and easier to ride than any other bike in its class. The 2009 CB600F Hornet has been a leader in its segment in ride comfort, performance, controllability and ownership pleasure. Syakar Company Ltd -- the authorized dealers of Honda Cars as well as Honda and Hero Honda Motorcycles in Nepal -- currently distributes Honda Aviator and Dio, in scooters, and Unicorn, Shine, Stunner in motorcycles also.

Technical Analysis of Shares

hough the domestic share market doesnot follow the internationally-accepted practice -- neither fundamentals nor technical -- and directed by hearsay and noise creators, Rabindra Bhattarai, a share analyst and lecturer at Shanker Dev Campus, has brought a book on Technical analysis of Shares in the market; Share ko Prabidhik Bishleshan (Technical analysis of shares).

The book tries to explain some of the technical system of analysis like double top formation, double bottom formation, head and shoulder formation, rounding top, rounding bottom, triangle, rectangle, support and resistance, A-D ration and volumn analysis.

The investors could take more benefit, if they read the book, though it could not be guaranteed in the domestic market. Bhattarai rightly quotes in the book -- buyers buy in the expectation that the price will go higher and the sellers sell because they think the price will go down, its a huge psychological game that repeats daily at the floor. But the book might boost pyshological confidence of the investors with logical analysis.

Dividend Declaration Fuels Transactions

Nepal Stock Exchange index drops below the 700-point mark

The declaration of dividends -cash and shares -- has made the shares of Nabil Bank, Standard Chartered Bank Nepal, Nepal Investment Bank, Citizens Bank International and Bank of Kathmandu hotcakes in the secondary market this week.

This week too, Standard Chartered Bank Nepal topped the chart in terms of transaction amount with Rs 65.45 million, though it declared its dividends two weeks ago. Nabil bank followed with Rs 54.55 million whereas Citizens' Bank International (with Rs 41.80 million), Bank of Kathmandu (with Rs 37.81 million) and Nepal Investment Bank (with Rs 35.62 milllion) topped the chart in terms of transaction.

However, these banks' transactions could neither rescue Nepal Stock Exchange (Nepse) nor the commercial banks' sub-group. Nepse plunged by 28.28 points to 681.54 points from Sunday morning's opening of 709.82 points. Similarly, the commercial banks subgroup -- one of the key market propellers -- lost the whopping 45.86 points to 708.75 points from the Sunday morning's opening of 754.61 points.

Except, hotels sub-group, all the other sub-groups performed poorly this week. Development banks sub-group plunged by 12.92 points to 707.84 points from the opening 720.76 points. Finance companies sub-group dropped by 10.87 points to 662.79 points from the Sunday morning's opening of 673.66 points, while the others sub-group also lost 4.70 points to 659.11 points from 663.81 points. Hydropower and insurance sub-groups lost only 2.83 points and 1.55 points to drop to 874.79 points and 640.26 points, respectively.

However, 122-unit shares of Soaltee Hotels -- that were traded on Thursday -- pushed the hotels sub-group's index up by 2.90 points to 366.85 points from Sunday morning's 363.95 points. The rarely traded manufacturing and trading subgroups did not observe any trading this week too.

In terms of number of share units traded, National Hydropower Company topped the chart with 76,000-unit shares changing hands while in terms of number of transactions Citizens' Bank International topped the chart with 1068 transactions.

The transaction amount also decreased by 19.46 points to Rs 512.72 million this week against last week's increase of 63.50 per cent.

However, in the total transactions group-A companies' contribution matched almost last week. This week, the group contributed 62.89 per cent, wheras it was 67.13 per cent last week. The 78-scrip sensitive index -- a barometer of Group-A companies -- lost 10.16 points to 180.21 points, though float index -- calculated on the basis of real transactions -- skidded down only by 2.63 points to 65.95 points from the Sunday morning's opening of 68.58 points.

Price Hike Makes life Hell for Folks

The sharp rise in the prices of commodities including foodstuff has made life very difficult for the ordinary people.

Compared to the previous year, prices of more than 40 per cent of consumer goods in the market have increased. Not only housewives, students staying in the capital for higher studies are also feeling the heat. Kamal Basnet, who studies at Nepal Humanities College is deeply worried at the spiralling price rise. "One cannot continue studies here in such a situation," he said.

Suntali Kumari who lives off by selling roasted maize on a footpath in the capital said life is becoming harder for people like her.

Students, employees working in lower posts and people with low income are alike reeling under the impact of the exorbitant rise.

AAN Launches First Copyright Campaign

Advertising Association of Nepal (AAN) has started an advertisement creation protection campaign to establish copyright security in the advertising sector and protect the creations of different advertising agencies.

During a press meet here today, AAN president Nirmal Poudel briefed the media about initiating an advertisement copyright protection process from today. Under this process, the advertising companies should fill up their application forms so that on violation of copyright of any advertisement the related company can file a complaint.

The advertising companies registered under the AAN for copyright protection will be registered for two years and the registered creations registered under AAN will be kept secure in bank lockers, Poudel said. Along with the initiation of the copyright protection process, AAN has also launched its official website -- -- for daily updates about the advertising sector and AAN's activities.

No Policy for Gold Jewellery Export

Nepali gold jewellery has the potential to compete in the international market, but it is yet to become a major export commodity due to lack of infrastructure and policy for the sector.

"As gold jewellery is not an exportable item till date, there is no authentic data about its export as it is exported indirectly through tourists and Nepalis staying abroad," said Tej Ratna Shakya, president of Nepal Gold and Silver dealers' Association of Nepal (NEGOSIDA). According to him, gold jewellery from Nepal has great demand abroad due to its ethnicity and design but until there is an infrastructure development policy the sector cannot take take up its export uin earnest.

In 2003, NEGOSIDA along with the government, conducted some skill development programmes for trained manpower and by 2008 a total of 100 people were trained, said Shakya.

"Currently, we have only internal trade of gold jewellery though the designs of the jewellery manufactured here can compete in the international market," he said adding that they are trying to coordinate with the government to run more skill development programmes that will give preference from the grass root level.

Gold in Nepal is mainly imported from Dubai, Hong Kong and Australia.
There are eight importers of gold in Nepal. "NIC Bank and Standard Chartered Bank are the two banks importing gold while ACE development bank is partially importing gold. ACE imports gold according to the order.
There are five entrepreneurs in the market that also import gold in the domestic market," Shakya said.

According to him, though the price of gold in the international market has fallen this week the price in the domestic market is rising. Gold opened at $953.85 per ounce this week and closed at $949.65 per ounce in the international market. The currency exchange rate on Sunday was Rs 78.10 per dollar, which went up to Rs 78.45 per dollar on Friday.

"The exchange currency rate of US dollar has increased compared to the Indian currency. This has pushed up our currency rate purchasing cost and due to which although international gold price decreased this week, there was no effect on the domestic market," Shakya said.

Gold this week opened at Rs 24,065 per 10 gram in the domestic market on Sunday and increased to Rs 24,220 on Monday. Gold was traded for Rs 24,180 on Tuesday. With an increase of Rs 200 on the opening price, gold was traded for Rs 24,265 per 10 gram on Wednesday and Thursday and closed at the same price on Friday.

Meanwhile silver opened at Rs 374 per 10 gram and was traded for Rs 377 per 10 gram on Monday and closed on friday at the same price.

Nepal SBI Bank Sets Foot in Tamghas

Nepal SBI Bank inaugurated its branch office at Tamghas, Gulmi, on Friday. With this, the bank now has a total of 32 branch network. The new branch will provide all range of banking services including deposits, loans and advances, and remittance. It will be equipped with an ATM terminal very shortly, assured the bank. Nepal SBI Bank now has 26 ATM terminals installed around the world. The bank has also brought a new scheme under which customers can open savings accounts for just Rs 501 to be eligible to receive ATM card, cheque book, internet banking, Any Branch Banking Service and UTL's U-sim with Rs 500 talk time-all absolutely free of cost

Rumors of Promoters' Share Bring Nepse Down

Rumors of possible floating of promoters share in the secondary market continued to take its toll in share prices, pulling down Nepal Stock Exchange (Nepse) index for three consecutive days.

Nepse shed 10.39 points to close at 671.15 points at the end of trading session on Sunday, the first day of the week´s trading, due to the fall in the sub-indices of major trading groups.

Nanda Kishore Mundada, president of Nepal Stock Brokers´ Association, said mounting selling pressure led to the decline in share prices, as the Securities Board of Nepal (SEBON) is likely to allow investors sell promotes share in the secondary market.

The Nepse lost points for the third consecutive days on Sunday. Fall in the sub-index of the Banking group, the major player in the secondary share market, was the major contributor behind the fall of benchmark Nepse. Banking group´s sub-index plunged by a whopping 16.09 points to close at 692.66 points on Sunday, contributed by the decline in share prices of Bank of Kathmandu, Everest Bank, Global Bank, Himalayan Bank, Kumari Bank, Nabil Bank and Siddhartha Bank among others. Similarly, the Development Bank group and Hydro Power group also saw their sub-indices drop by 8.53 points and 2.05 points to close at 699.31 points and 872.74 points respectively. Others group also lost 4.69 points to close at 654.42 points.

However, Finance group and Insurance group saw marginal increments of 0.9 points and 0.84 points to close at 662.88 points and 641.1 points respectively.

Total turnover of stock reached to Rs 64.15 million with 100,516 units of share and 62 units of scripts changing hands through 1,021 transactions. Total market capitalization stood at Rs 466.92 billion at the end of the trading on Sunday.

PO Savings Bank a Big Hit

People in Parsa are attracted to Parsa District Post Office Savings Bank. The bank has specially brought programmes focusing middle-class people. Recently, the number of people visiting the bank has been increasing. One can open an account with a minimum of Rs 100. The bank encourages middle-class to deposit their savings here. Around 20 to 25 people come to deposit money everyday, said bank incharge Kaushal Kishor Mallik. Of the Rs 20 million rupees deposit amount, the bank invested around Rs 6 million rupees for interest, said Mallik.

Nokia Money Service Soon

Nokia will introduce its mobile financial service Nokia Money next week at the annual Nokia World Event in Stuttgart, Germany. The service will be rolled out gradually to select markets, starting from early 2010. Nokia is building a wide network of Nokia Money agents where customers can deposit money or withdraw cash from their stored value accounts. Operated in cooperation with mobile payment services Obopay, in which Nokia invested earlier this year, the service is based on Obopay's mobile payment platform and includes newly developed functions.

CDBL to Float Shares

City Development Bank Ltd (CDBL), Pokhara, will issue its ordinary shares. According to a statement, Bishwo Mohan Adhikari, CEO of City Development Bank Ltd, and Siddhant Raj Pandey, CEO of Ace Development Bank Ltd, signed an agreement on Thursday on behalf of their respective organisations.

Ace Development Bank is issue manager for the IPO of 6,00,000-unit of primary shares at Rs 100 face value per unit.

Etihad Air to Fly Daily

Etihad Airways is increasing its Kathmandu flights from four a week to daily flights. The airlines will offer a greater choice of flights and improved connections as part of its winter 2009-10 schedule with a new service to Hyderabad in India and flights to Athens, Istanbul, Beirut, Cairo and Kathmandu, said the airlines. The move to increase the flights is aimed at providing greater flight options to European air travellers and has thus added momentum to the government plan to celebrate the year 2011 as Tourism Year, it said. The available seat capacity between Abu Dhabi and Kathmandu will also increase by 75 per cent to 1839 seats per week. With the increase in number of flights cargo capacity will also increase, adding more value to Nepali economy.

SMEs' Growth Key to Recovery: ADB Report

Asia's attempts to rebalance growth towards domestic sources will in part depend on the development and growth of the region's business sector, says a new report from the Asian Development Bank (ADB).

The report, published in a special chapter of Key Indicators 2009, the flagship annual statistical publication of ADB, says a return to rapid regional growth will require stronger domestic demand, for which the emergence of a large and rapidly growing urban middle class is key. The health of Asian enterprises, especially small and medium-sized enterprises (SMEs) -- where most Asian workers are employed -- will be important in this regard.

The special chapter, titled `Enterprises in Asia: Fostering Dynamism in SMEs', looks at the actual and expected impacts of the current global economic crisis on workers and enterprises and discusses how to make SMEs more innovative and productive once the crisis has played out.

"In view of the weak outlook for the major global economies, it's unlikely that Asia can export its way out of this slump, as it did after the 1997-98 Asian financial crisis,"
said Jong-Wha Lee, ADB chief economist. "Consequently, some economies need to accelerate the rebalancing process to increase domestic demand, and to assist that process they need to take steps to remove the constraints to growth on SMEs, which so many Asians rely on for their livelihoods."

Many of the region's most dynamic and export-oriented enterprises have been forced, as a result of the crisis, to scale back operations, cut production, and lay off workers. In seven out of eight East and Southeast Asian countries tracked in the report, manufacturing employment has declined by about two per cent to seven per cent between the first quarters of 2008 and 2009.

Smaller enterprises, which tend to be more domestically-oriented, have been less affected, but the credit crunch and a slump in demand are now beginning to hurt.

Many governments have taken steps to support economies through fiscal stimulus and the easing of monetary policies. Some have directly assisted enterprises through credit guarantees, subsidized loans and fiscal incentives, among other programmes.

The report says public policy has a key role to play in helping SMEs grow and become more productive.
Governments should work with commercial forces to correct existing market failures, particularly in the provision of finance.

Policy needs to help smaller firms raise their levels of productivity and employment through innovation, which includes adopting new technology and diversifying into new markets. Governments can assist firms by providing information services on technology and markets, vocational training, and technical support services, and by fostering linkages between SMEs and large enterprises, said the report.

A key challenge in public policy is to understand, within individual country contexts, which specific factors restrain the growth of SMEs and their diversification from traditional low-productivity activities to modern, higher-productivity activities, and how to design and implement interventions that are truly effective.

Nilima Studios' Outlet in Kathmandu

Famous actress Karishma Manandhar inaugurated Nilima Studios, a store with a wide range of collection of fashion wears, amid a function here on Sunday.

The store, which is the first outlet of Nilima Studios and is situated in the third floor of City Center, has brought a penchant collection of style, color, design and fashion -- ranging from latest styles from the West along with especially hand-chosen Indian apparels and accessories, states a press release issued on Sunday.

Hajmola Launches ´Hasaun Harkelai´ Campaign

Dabur Nepal has launched an interesting promotional campaign named ´Hajmola Khaun, Hasaun Harkelai´.

To participate in this campaign, one needs to send funny stories, poems, jokes and pictures along with a wrapper of Hajmola candy or tablet to PO Box 14,375, Kathmandu.

Lucky winners, chosen on every 15 days, will win dinner for two with Harke at a five-star hotel, while the first five entries will win early bird prize, according to a press statement issued by Dabur Nepal Limited. Dabur Nepal will also give away Rs 111,111, Rs 55,555 and Rs 33,333 winners as bumper prizes to three persons

Suzuki GS150R: New Kid On The Block

Ganesh Enterprises Pvt Ltd, the sole authorized distributor of Suzuki two-wheelers for Nepal, has introduced the Suzuki GS150R, Suzuki Motorcycle India´s (SMI´s) latest entrant in the extremely competitive 150 cc segment. The design and styling of the new bike were inspired by the Suzuki GSX-R series, according to SMI.

Priced at Rs 184,888, the bike is one of the only two in the 150 cc segment here to feature a six-speed transmission. Its 149.5 cc engine delivers a maximum power of 13.8 bhp at 8,500 revolutions per minute (rpm) while peak torque stands at 13.4 Nm at 6,000 rpm. According to Ganesh Enterprises, the bike has a top speed of 108 kmph and jumps from standstill to a speed of 60 kmph in 5.5 seconds. In the fuel efficiency front, riders have reported a mileage of 70 kmpl in Indian roads but is expected to give at least 50 kmpl in Nepal, Amar Rajkarnikar, managing director of Ganesh Enterprises told "Our roads are more congested and their condition is also not as good," he explained.

The GS150R´s has an ´engine balancer´ which controls engine vibration so that there is less vibration even in high rpms. The bike features a digital console which provides information on speed, gear used, fuel status, time and power-mode plus also features two additional trip-meters. The dual power-mode -- eco and power mode -- system tells driver the best time to shift up thereby increasing the fuel efficiency. The rear oil and gas suspension provides smooth rides on rough roads.

It is one of the heaviest bikes in the segment but its 1,340 mm wheel base and design make it feel lighter, even in low speeds. This helps in better cornering and balance. The bike is covered by a two-year or 30,000 km warranty.

Price: Rs 184,888
Displacement: 149.5 cc
Transmission: 6-speed (1-down, 5-up)
Max Power: 13.8bhp@8,500rpm
Max Torque: 13.4Nm@6,000rpm
Fuel Tank Capacity: 15.5 liters
Wheelbase: 1,340 mm
Ground Clearance: 160 mm
Seat Height: 790 mm
Available colors: Pearl Nebular Black, Metallic Flint Gray, Candy Max Orange, Candy Dark Greenish Blue

Suzuki DR200SE to hit roads soon

Nepal will soon see new all-road motorcycles. The Ganesh Enterprises is preparing to unveil the Suzuki DR200SE -- a ´multi-road´ bike which is built for use in both paved roads and going off-roads or a strong dirt-bike that is easy to ride even in the city.

Amar Rajkarnikar, managing director of The Ganesh Enterprises, told that the 149 cc bike will be priced at around Rs 475,000 and is expected to arrive here within a week or two.

"The final price will be determined when the bikes get here," he said.

The bike will come in two variants, one for general commuting and off-road use and the other feature carriers and more places to load goods. The two variants will also have different types of tyres considering the different purposes that they would be used for.

The bikes have a ground clearance of 260 mm, wheelbase of 1,405 mm, can carry 13 liters of fuel and feature electric self-starter.

Bajaj Maha X-change Mela 6 Ends

The sixth edition of the Bajaj Maha X-change Mela has concluded, Hansraj Hulaschand & Co, the sole authorized distributor of Bajaj two-wheelers for Nepal, said. Issuing a statement on Wednesday August 26, 2009, Hansarj Hulaschand said 1,175 Bajaj bikes were sold during the six-day event.

“People from all age groups visited the Mela and took advantage of the opportunity. Participants took help from more than 25 companies regarding sales, inquiry and exchange of motorcycles,” the statement reads, adding that the new 100 cc Discover and the Pulsar 220 upgrade were popular among the visitors.

Upgraded Bajaj Pulsar 220, Discover 100 Unveiled

The NADA AutoShow 2009, which will run at the Bhrikuti Mandap Exhibition Hall till Wednesday, features the new upgraded version of Bajaj Auto´s performance bike in the very popular Pulsar family. Bajaj Auto calls this the fastest bike made in India -with a top speed of 144 kmph. It says the bike can go to a speed of 60 kmph from standstill in 4.10 seconds and to a speed of 100 kmph from zero in 7.11 seconds.

The bike is no longer called DTS-Fi, as Bajaj has replaced the fuel injection system for which the ´F´ stood for. Fuel to the new Pulsar 220´s Digital Twin Spark Ignition (DTS-i) engine is delivered through a carburetor instead of the fuel injection system used by its predecessor. The new P220 also has a temperature based ignition mapping system and auto choke.

Maximum power delivery of the P220 has gone up from 20.06 Ps at 8,500 rpm of the previous ones to 21.04 Ps at the same rpm in the upgraded version. While peak torque has remained the same at 19.12 Nm, the rpm at which it peaks has gone up to 7,000 from 6,500.

The upgrade´s forks, swing arm, alloy wheels and engine have got an all-black treatment. Other changes include 3D chiseled logo, clip-on handle bars and also a redesigned console background.

Hansraj Hulaschand has priced the new Pulsar 220 DTS-I at Rs 219,900.

Bajaj unveils Discover 100

Hansraj Hulaschand and Co, the sole authorized distributor of Bajaj two-wheelers for Nepal, unveiled the Bajaj Discover DTS-Si during the ongoing NADA AutoShow. This new entry in the Discover family, which also features the popular Discover 135, has a 94.38 cc engine and costs Rs 129,900. The new bike runs on Bajaj Auto´s new engine series called the DTS-Si 2.0 which, Bajaj claims, is the world´s most fuel efficient engine.“

"In this bike you get the power and performance of a 125 cc bike with a fuel efficiency of a 100 cc engine," Shekhar Golchha, who heads the Golchha Organization of which Hansraj Hulaschand is a subsidiary, told

The new engine throws out a maximum power of 7.7 Ps at 7,500 rpm and a maximum torque of 7.85 Ps at 5,000 rpm. The new bike also feature a five-speed gearbox, an electric self-starter, ExhausTEC tailpipe, auto choke system, Nitrox rear suspension, and wider tires.

It also has a ´Ride Control Switch´ using which a rider can select a fuel economy mode.

Visually, the Discover 100 has black and chrome styling, alloy wheels, LED tail lamp and stylish head lamp cowl with twin pilot lamps.

According to Bajaj, the bike´s wheelbase of 1305 mm is the longest in the segment and provides more stability to it. It has a ground clearance of 165 m and a kerb weight of 165 kg. The bike is covered by a 2-year warranty.

Price: Rs 129.900
Displacement: 94.38cc
Transmission: 5-speed
Max. Power: 7.7 Ps @ 7,500 rpm
Max. Torque: 7.85 Nm @ 5,000 rpm
Wheelbase: 1305 mm
Ground Clearance: 165 mm
Kerb Weight: 115 Kg
Capacity: 8 liters (2.3 liters reserve)
Colors: Black with Blue, Red or Green decals

Accessories Galore at NADA AutoShow

NADA AutoShow -- the five day automobile show -- is not just about the glamor and glitz of vehicles. The show also features wide range of auto accessories and servicing facilities.

According to Santosh Chhetry, executive director, Global Exposition and Management Services, 34 out of 46 stalls in the show are displaying auto components like batteries, lubricants, tyres, car music system and spare parts manufactured by various brands.

Hicto Pvt Ltd is one such firm that offers complete automotive services and diagnostic equipment for vehicles. The stall offers facilities such as under chassis, under bonnet diagnostic service, lubricating equipment and pneumatic tools, including impact wrench, polisher and screwdriver among others, for almost all vehicles.

Nepa Hima Trade Link, the authorized dealer of Sony products for Nepal, is displaying speakers, DVD players, woofers, monitors and amplifier by Sony. It is also offering 30 to 50 percent discount on its products and attractive prizes like calculators and umbrellas by Sony. Sony´s USB supported audio systems are loaded with attractive promotion schemes. Four speakers worth Rs 38,000 are given free on the purchase of 680, 480 and 280 models. XAV-W1 -- a touch panel monitor with movable screen -- which costs Rs 75,000, is another special attraction at Nepa Hima´s stall. Another XVM-B62 -- a headrest/dashboard LCD monitor worth Rs 15,000 -- is also equally striking. Nepa Hima is offering woofers and amplifiers in the range of Rs 8,000 to Rs 12,000.

For those who are looking for qualitative and durable tyres, Rishav International is offering newly launched Canadian Hercules tyres. "Though our products are a bit expensive, they are durable and highly qualitative and thus worth purchasing", says Krishna Ranabhat -- import in-charge, Rishav International.

Satyadip International offers various under a single roof. The firm is showcasing equipment such as horns, headlight, wiper blaze, break oil and air filters suitable for almost all brands of vehicles. Satyadip offers all materials by Bosch.

Not just auto equipment, one can even buy chargers, inverter batteries and solar batteries with extra grades at this mega event. Basanta Motors has put on display 32-200 ampere Panasonic maintenance-free batteries and dry cells. Chargers displayed in the event have the capacity of charging as many as 12 batteries at a time.

Standard Chartered and Sanima Bikas Bank are helping make the deal cheaper at the show. Auto loan schemes and spot finances and insurance covers for vehicles are one of the major attractions in the show. Though Standard Chartered Bank have not introduced any special scheme for the show, its regular financial offers are more than lucrative for auto lovers. The bank offers auto loan for a multiple of choices such as new car financing, used car financing, cash against cars, commercial vehicle financing and refinance. Attractive interest rates, quick processing time and flexible loan periods are the major highlights of Standard Chartered´s auto loan scheme.

Sanima Bank is offering 100 percent financing facility at 10.25 interest rate for five years and 10.5 percent for seven years. This facility includes 20 percent cash and interest back after the loan repayment.

Colors Brings The Colours of Speech

Colors TeleTech Pvt Ltd, a rapidly growing telecommunication and electronic company in India has launched Colors Mobile handset in Nepal through its subsidiary TeleTalk Pvt Ltd which is also the sole authorized agent of Spice Mobile Phones in Nepal.

Colors mobile handsets offer tailor-made, smart and extra features at unbeatable prices that are sure to please highend consumers. At present, Tele Talk will introduce 4 new CDMA and 4 new GSM models. The models will be available in single GSM, single CDMA, dual SIM GSM+GSM and dual SIM GSM+CDMA.

Of special interest to the consumer would be Colors GSM phone model G-101. It offers all hiend features such as GPRS, Bluetooth and many more for only Rs 4350. Additionally, the GSM range also consists of G786 & G786Q mobile handset tailor made for the Muslim community having full Quran recital, prayer timings and other exciting features. Another unique GSM phone is the dual SIM Touch G201 phone which has a unique Voice Changer feature that enables the users to adapt to different voices during a conversation.

In addition, Colors CDMA range consisting of basic FM phones such as C-111, C-222, C-333 to hi-end C-105N -- a multimedia phone offering consumers an opportunity to buy original, genuine quality CDMA phones. Feeling cheated until now, consumers but had no option but to buy sub-standard, nonwarranty CDMA phones from the gray market.

All Color mobile phones come with a 6month battery and charger warranty and 1year mobile phone warranty and are backed with qualified Colors Clinic service available at New Road.

Academician's Visit

Dr Jay Nathan -- a full professor of Management at St John's University visited the Republic of Nepal from August 20 to August 25 under the sponsorship of Fulbright Alumni Association of Nepal (FAAN). Dr Nathan said he was pleased to have the opportunity to engage in discussions about Nepali culture, economic development, globalization and business education. He strongly believes with proper management Nepal can improve her public and private enterprises. Some of the institutions that benefited from Dr Nathan's visit are Management Association of Nepal (MAN), Central Department of Economics (TU), Fulbright Alumni Association of Nepal (FAAN) and Golden Gate College, Kathmandu.

Nokia Booklet 3G Hits the Stands

Nokia unveiled its first netbook called Nokia Booklet 3G. The Windows-based netbook is powered by an Intel Atom processor and has 12 hours of battery life. With the feel of a fullfunction PC inside a portable aluminium chassis, the mini laptop weighs 1.25 kg, is slightly more than 2 cm thick, and offers connectivity options, including 3G/HSPA and Wi-Fi. It comes with an HDMI port for HD video out, a front facing camera for video calling, integrated Bluetooth and a SD card reader. Other features include the 10-inch glass HD ready display and integrated A-GPS which, working with Ovi Maps gadget, can pinpoint a user's positions. Booklet 3G also gives other Ovi experiences, like access to and playback of millions of tracks through Nokia Music Store, or using Ovi Suite to sync from a Nokia smartphone. Availability and pricing will be announced at Nokia World on September 2.

NRNA Aid for Trade School

The Non Resident Nepali Association (NRNA) has provided Rs 1.5 million for the expansion of the activities of Trade School.

NRNA president Dr Upendra Mahato handed over the cheque for Rs 1.5 million to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar Joshi amid a function here today.

FNCCI has been operating the school in partnership with the government to train workers for Nepali industries.

Federation of Nepalese Chambers of Commerce and Industry is running trade schools in eight zones and planning to expand in three more zones in future.

This support will help expand training for youth, Joshi said. He added that hoped NRNA's support would continue for this sector in future.

"We are providing the best training to support youth in finding jobs in the domestic and international markets," he said.

NRNA president Mahato said his organisation was pleased to support the trade school.

FNCCI vice-president duo Krishna Prasad Tamrakar and Pradip Jung Pandey along with Azad Shrestha, Dr Jugal Bhurtel, director general of Federation of Nepalese Chambers of Commerce and Industry Megh Nath Neupane and FNCCI-NRNA Cell coordinator Dr Hemant Dawadi also attended the function.

Saturday, August 29, 2009

Milk Price Hike Dispute Lingers

It's now two months that the per litre price of milk supplied by farmers has been increased on a provisional basis but they are still not satisfied and are demanding another hike. However, Dairy Development Corporation (DDC) has reasoned that there is no point in increasing the per litre price of milk by Rs 2.76 again.

According to DDC spokesperson Siya Ram Prasad Singh, it's been only a few months that DDC gave an increment in the per litre raw milk price and that varies from place to place from Rs 0.50 paisa to Rs 2.
"Only recently there has been a hike of Rs 2 per litre in milk price for consumers, so there is no point in increasing the raw milk price for farmers by Rs 2.76 per litre," said Singh.

DDC recently made an increment of Rs 2 per litre in the market price of milk supplied. With an increment of Rs 2 per litre, milk that cost Rs 34 per litre is now priced at Rs 36 per litre.
"After more than a year we renewed the milk price in the market whereas the hike in the price of per litre raw milk was made before any hike in the market price of milk, " Singh said.

A disgruntled Central Dairy Cooperative Association Ltd Nepal (CDCAN) has been protesting since a week and demanding the implementation of the Ministry of Agriculture ad Cooperatives' decision to hike milk price for the farmers. The ministry decided to increase milk by Rs 4 per litre, dividing benefits between farmers and dairy industries. However, DDC made an increment of only Rs 2 per litre of milk.

"Talks were held between us and DDC representatives at the ministry but to no avail. DDC is ready to make an increment of Rs 1.26 per litre and we do not agree to that. We need a hike of Rs 2.76 in the price that farmers get," said CDCAN chairman Dhaka Ram Aryal. He added that the association would go on with its protest programmes.

According to DDC, there has been a hike in the rpice of milk products and the hike varies according to the product from 4-5 per cent. In some instances, there is even 10 per cent price increase in some other dairy products.

Around 200,000 farmers are employed in the milk production sector.
The total consumption of liquid milk per day is 150,000 litres. "The milk and dairy product distribution is going on well without any disturbance, though some of the chilling centres at some places have been padlocked.
We are hopeful the dispute will be settled soon," said Singh.

After DDC expressed reluctance to implement the new rate fixed by the ministry, the dairy cooperatives association started protests since August 18. CDCAN has also demanded its representation in the DDC board and a mandatory contribution of Rs 0.5 per litre in Dairy Development Fund.

Bank of Kathmandu Opens its 31st Branch in Dadeldhura

Bank of Kathmandu (BoK) opened its 31st branch in Tufan Danda of Dadeldhura district on Wednesday. BoK is providing modern banking services at 37 places including six counters. It has 25 ATMs centres throughout the country.

Tuesday, August 25, 2009

Sipradi Maha Utsav Ends

Sipradi Trading Pvt Ltd, the authorized dealer of Tata Motors Ltd, said that more than 350 vehicles were serviced during the three-day Sipradi Maha Utsav that ended Tuesday.

It also announced the addition of five more fully-equipped mobile service vans to its fleet. The vans were handed over to five Tata authorized service centers.

According to Sipradi, labor charges had been waived during the Maha Utsav. It also provided free battery check-up, a 15 percent discount on spare parts, 25 percent on Mak lubricants and 15 percent on Exide batteries during the event.

Discounts between Rs 5,000 and Rs 7,000 was also offered on engines repaired under the company´s Sanjiwani Yojana, Sipradi said. During the campaign, a free training on HIV awareness was also organized for drivers.

BTMO Adopts e-billing System

In a bid to provide hassle-free service to service seekers, the Department of Transport Management (DoTM) has introduced electronic billing (E-Billing) system at Bagmati Transport Management Office (BTMO) at Lalitpur.

The introduction of E-Billing is expected to replace long queues at the office and provide hassle-free and timely service to service seekers. This will also help make day to day affairs at the BTMO more managed.

“With the launch of E-Billing system, revenue collection will be transparent and service delivery will be faster, reducing unnecessary hassle to public while paying revenue,” Sharad Chandra Paudel, director general of DoTM, told on Tuesday. “The new system will also discourage tax evasion.”

According to Paudel, revenue paid by concerned vehicle owners would directly be entered into their respective accounts.

In the first phase, six revenue counters have been set up at the BTMO, where around 1,200 persons pay their vehicle taxes every day.

The DoTM is in the process of initiating scientific database and vehicle´s pollution test along with digital number plate system on vehicles under its reforms plan. The BTMO deals with registration and keep records of over 800,000 vehicles in Bagmati zone.

Sony's New Handycams

Nepa Hima Trade Link Pvt Ltd, authorized dealer of Sony products for Nepal, has launched a new range of High Definition (HD) and Standard Definition (SD) handycam camcorders. These include three new HD models, which use hard drive as storage, and other SD models that use either hard drives or memory sticks.

According to a statement issued by Nepa Hima, the new camcorders feature new and improved digital imaging technologies, such as the ´Exmor R´ image sensor and Optical SteadyShot (Active Mode). “The latest handycam camcorders combine enhanced recording flexibility with exceptional image performance,” it states.
The ´Exmor R´ sensor enables the user to capture clear high resolution images with reduced noise and smooth movement even in low light conditions like night scenes or dimly lit rooms.

“Combined with the BIONZ image processor, the new Exmor R CMOS Sensor delivers higher resolution still image recording and dual recording, as well as enhanced smooth slow recording,” Murari Gautam of Nepa Hima said.

The products start from Rs 49,999 and go as high as Rs 139,999. Nepal Hima is also offering free gifts with every purchase. These include free DVD burners, which can be attached to the cameras to transfer the image or video directly to DVDs, to 4GB memory cards. Also on offer are starter kits (with the HDR-XR100E). Ten 12cm DVDs are offered with the DVD burners, while a DV Tape is offered with the DCR-HC series products.

Price: Rs 139,999 (4 GB Memory card free)
Still Image sensor: 12 megapixel
Zoom Movie Optical: 12x
Digital: 150x
Still Optical: 12x
Storage: 120GB
Recording Media: Hard disk drive, Memory Stick Duo
Stamina: Approx. 5 hours (when using optional NP-FH or viewfinder)

Price: Rs 94,999 (Starter Kit free)
Zoom Movie Optical: 10x
Digital: 120x
Still Optical: 10x
Storage: 80GB hard disk drive
Recording Media: Hard disk drive, Memory Stick Duo
Stamina: Approx. 6 hours (when using viewfinder only and optional NP-FH100 InfoLITHIUM battery, when Panel Backlight ON)

Price: Rs 34,999 (4 GB Memory card free)
Zoom Movie Optical: 60x
Digital: 120x
Still Optical: 60x
Recording Media: Internal Memory (4GB), Memory Stick

Price: Rs 49,999 (DVD Burner and 10 pcs 12cmDVD free)
Zoom Movie: Optical: 60x
Digital: 120x
Still Optical: 60x
Storage: 60GB hard disk drive
Recording Media: Hard disk drive, Memory Stick Duo
Stamina: Approx. 11 hours (when using optional NP-FH100 InfoLITHIUM battery)

Nepse Drops Over Low Cash Dividend

Announcement of nominal cash dividend by Nepal Investment Bank Ltd (NIBL) triggered further loss in already slowing Nepal Stock Exchange (Nepse) index. The Nepse, the indicator of investors´ confidence in stock market, shed 2.09 percent or 14.47 points to close at 678.87 points at the end of Tuesday´s trading.

“Meager cash dividend of Rs 20 per share announced by NIBL has discouraged investors and spurred selling pressure in the secondary market on Tuesday. The announcement also sent negative message to investors of other companies,” Nanda Kishore Mundada, president of Nepal Stock Brokers Association told Price of NIBL´s per unit share dropped by 114 to Rs 1035 on Tuesday.

Mundada also said rumor of Securities Board of Nepal (Sebon) permitting promoters to lower their equity participation by selling 19 percent of total shares also contributed to the decline. “If permission is given to sell promoter shares, number of share would be doubled in the secondary market, resulting in overflow of shares in the secondary market,” said Mundada.

Banking group, a key trading group in stock market, saw its sub-index dropped by a whopping 23.42 points to close at 707.82 points. The slump in Banking group´s sub-index was contributed by the decline in share prices of major banks such as NIBL, Nabil, Standard Chartered and Kumari Bank. Similarly, Development Bank and Finance groups´ sub-indices also wend down by 0.58 points and 5.89 points to end at 703.15 points and 868.77 points respectively. Insurance and Others group also saw their sub-indices dip by 1.66 points and 8.22 points to close at 640.29 points and 649.72 points respectively.

Total turnover of stocks declined to Rs 86. 36 million with 123,722 units of shares and 55 scripts being traded through 964 transactions during Monday´s trading. Total market capitalization also dropped to Rs 471.49 billion, down from Rs 481.55 billion recorded on Monday.

Central Dairy Co-operative Association Still Sticking to Its Protest Guns

It is now a week that Central Dairy Co-operative Association Ltd Nepal (CDCAN) has been protesting to demand the implementation of the Ministry of Agriculture and Cooperatives' decision to hike milk price.

The ministry decided to increase milk price by Rs 4 per litre, dividing the benefits between farmers and dairy industries. However, Dairy Development Corporation (DDC) made an increment of Rs 2 per litre of milk.
As a result, CDCAN is staging protest programmes.
CDCAN chairman Dhaka Ram Aryal said talks regarding milk price are going on and if they fail, the association will conduct another protest programme.

CDCAN director Lok Bahadur Khadka said that the problem was not regarding the commercial milk packet prices but the need to hike the price of raw milk that is sold by the farmers. "It is we who need the larger hike," he said. As per its protest programme, CDCAN has halted dairy products distribution from August 21.

The ministry had directed DDC to hike the milk rate from August 19 but DDC just made a fragile increment of Rs 2 per litre which does not the meet the directive of the ministry.

When DDC appeared reluctant to implement the new rate, dairy cooperatives association started protests since August 18. CDCAN, the umbrella organization of farmers and milk cooperatives has planned to stop all dairy supplies from Friday and padlock DDC's central office and regional offices. The association has also demanded its representation in the DDC board and a mandatory contribution of Rs 0.5 per litre in Dairy Development Fund.

CDCAN representatives said, "Farmers should get Rs 2.76 hike per litre of raw and dairy industries Rs 1.24 per litre." They also voiced their anger at the government's use of force to disrupt their protest programmes.

Revamped Vehicle Number Plates Soon

The Department of Transport Management (DoTM) is planning standardize the system of vehicle number plates to reduce tax evasion and crime.

The department has completed a preliminary study in the regard.
Budget 2009-10 has allocated Rs 30 million for the implementation of new system of number plates.

DoTM is taking this step to reduce vehicle-related crimes, said Sharad Chandra Poudel, director general. "The new system will be difficult to duplicate. We are studying security measures for the number plate system," he said. The study commissioned by the DoTM has suggested three number plates -- in front, at the rear and on the body -- for all vehicles.

The front and rear number plates should be kept fixed as usual while the third number plate should be changed every year. "Vehicle owners will get the third number plate after paying road and vehicle tax at the end of each fiscal year," Poudel said. The third number plate will be a sticker and a proof of revenue payment, he added.

According to DoTM, more than half of the private vehicles -- two wheelers and four wheelers -- plying on the roads are not paying road and ownership taxes.

Around 8,97,629 vehicles have registered in Nepal till May 14 this year. "It is more than Rs 2 billion that we still have to collect from vehicles till the fiscal year 2008-09," said Poudel.

DoTM is also mulling reducing the vehicle number plate categories to two. "We are thinking of dividing number plates into heavy and light categories," said Poudel, "Frankly, we don't need more than two categories." Currently, eight categories of number plates are being used for ministers, civil servant, corporations, public transport, private-owned, diplomatic mission and others.

Poudel said the new number plate would not be costly.
According to an estimate, the new number plate will cost from Rs 1,000 to Rs 1,200.

The department is also considering to engraving the national flag along with vehicle number on number plates. As per the DoTM plan, the new number plate system will be enforced from the next Nepali New Year -- mid-April 2010.


New Road Star on Horizon

Goldfish international Pvt Ltd launched Megelli, a completely new brand created in the UK, on Sunday.

Megelli has presented three new 150cc motorcycles -- Megelli150R, Megelli150M and Megelli150S, said the company. GFI has introduced a new line of 150cc motorcycles with a wicked combination of street style and performance, created from the ground up with aim of achieving a brand with a `must have factor' combining quality, reliability and value.

A prospective customer after visiting the showroom gushed, "Looks do what they can, beauty does what it must. Megelli motorcycles are completely stunning and have great performance. It's the bike with the overall package one has been looking for."

Booking for the Megelli opened today at the Megelli showroom in Teku.

LG Service When You Want Campaign

LG Electronics on Tuesday launched its `211 Campaign' to boost aftersales service in Kathmandu. The campaign means `service when you want' and LG mechanics and engineers will visit the site within a hour of the call placed. The service is available in Kathmandu and will be expanded to three other towns by next month. Within the year, the facility will be expanded throughout the country, it said.

Golden Gate Donation

On behalf of the Golden Gate International College family, its chief executive officer Ramesh Silwal handed over Rs 51,111 to Annapurna Post editor Jiwendra Simkhada for `Annapurnapost Sahayogi Hatharu' in the Annapurna Post's office at Anamnagar. The campaign for the Jajarkot diarrhoea victims that Annapurna Post started has been successful in supporting the victims as more organisations are supporting it.

CG Techno Coming

Chaudhary Group has formed a Strategic Alliance with Singapore-based CrimsonLogic IT Solutions to cater to the stark need for providing ICT Services with high level of expertise and professionalism in Nepal.
The alliance will operate in the name of CG Techno Dreams Pvt Ltd from Kathmandu with exclusive rights of CrimsonLogic Solutions and services in Nepal, said the company.

CrimsonLogic is the top company in Asia, providing IT solutions and services, mainly expertise in e-governance implementation worldwide. It has proven its competence in e-governance implementation in 20 countries. In Nepal, the alliance aims for implementation of the e-governance.

NIBL to Distribute 20 per cent Cash Dividend

The Board of directors' meeting of Nepal Invest- ment Bank Ltd (NIBL) on Tuesday proposed 20 per cent cash dividend to shareholders. The meet- ing has separated Rs 481.41 million for the purpose and it will be distributed after the approval of Nepal Rastra Bank and NIBL's forthcoming annual general meeting. NIBL gained net profit of Rs 900.619 million in the fiscal year 2008-09.

It also increased its paidup capital by 99.92 per cent compared to the preceding fiscal year -- from 1.203 billion to Rs 2.407 billion.

First Citizen First to Get PAN

The Inland Revenue Department (IRD) launched a direct tax net expansion campaign today, distributing Permanent Account Number (PAN) to President Dr Ram Baran Yadav, VicePresident Paramanand Jha, Prime Minister Madhav Kumar Nepal and Ministers today. Finance Minister Surendra Pandey handed over the PAN cards under his dream project that he had announced in his budget speech for 2009-10.

"We have issued a PAN card to the president to show that no one is beyond the tax net," said minister Pandey. The government is observing fiscal year 2009-10 as Tax Participation Year.

"Individual tax payers with over Rs 1.5 million turnover and Rs 0.15 million income should register in it," said IRD director general Shanta Bahadur Shrestha.

"It is targeted at also those who rent out houses, professionals including doctors and engineers and investors who have invested over Rs 10 million in the capital market," he said adding that PAN is applicable to those who are listed in Income Tax Act section 78.

According to IRD, around 3,53,121 people and companies have listed for PAN till July 15 and of them 2,76,607 are individual taxpayers. The department is planning to increase the number of PAN holders to 5,50,000 in the current fiscal year adding 1,50,000 individual and 50,000 organizational taxpayers. "We have plans to bring in over 2,00,000 taxpayers this year," said Shrestha.

Moreover, IRD has launched e-filling and verification facilities for small tax payers called D01. People having income below 1,50,000 can file online tax and also verify their account using Internet. IRD is brining online tax filing system for medium (D02) and large (D03) taxpayers within a month.


India's Teledensity Up

India ended the month of July with 479.04 million telephone subscribers (mobile and fixed), up by 3.06 per cent from 464.82 million in June. Teledensity in India has reached 41.08 per cent, according to data from Indian telecom regulator Trai. The wireless and mobile (GSM, CDMA, fixed wireless phone) subscriber base stood at 441.66 million.

Revenue Collection Up in Bhaktapur District

Bhaktapur District Land Revenue Office collected Rs 440 million revenue in the last fiscal. Though the office had aimed to collect Rs 243,500,000, it exceeded the target by almost double, said official Rohit Kumar Bhattarai. The office endorsed a total of 33,119 women-owned 12,859 land plots' ownership and Rs 40 million were discounted to them.

Citizens' Adds Four Branches

Citizens' Bank International Ltd on Monday inaugurated its four branch offices at Kalanki, Thahiti, Nayabazar and Maitidevi. With the new branches, the bank's total branch network has touched 17. Within the next two years, the bank will have a branch each in every zone making it a total of 30 branches, said the bank that recently started Gold Loan scheme in its Biratnagar, Boudha and New Road branches. The bank registered an operating profit of Rs 184.5 million with a total deposit of Rs 11.52 billion and floated Rs 8.21 billion loan during the fiscal year 2008-09.

FiM Hails Revenue Inflow Rate

The finance ministry has been able to collect Rs 353.42 million revenue on an average everyday from the start of this fiscal year.

"Till August 22, the ministry has collected Rs 13.43 billion revenue," said finance minister Surendra Pandey here today.

The Nepali fiscal year starts from July 17. By August 22 -- in 38 days -- the ministry has collected Rs 13.43 billion revenue. "In the corresponding period the last fiscal year, collection was Rs 8.90 billion," he said adding that the increase is 51 per cent in comparison to the same period last year. "Despite lower export of stone and sand to India due to the new provision in the budget and and temporary halt in import of automobiles, the revenue collection is encouraging,"
added Pandey.

Last fiscal year, his predecessor Dr Baburam Bhattarai was successful in collecting a record amount of revenue but failed to launch spending on development activities. He exceeded his revenue target of Rs 147.72 billion that had been billed ambitious.

The present Madhav Kumar Nepal-led government's ability to spend on development activities is also suspect as local bodies have not yet been formed.

Yamaha De Dhana Dhan

Morang Auto Works (MAW) -- the sole authorised dealer of Yamaha motorcycle for Nepal announces its new scheme Yamaha Dashain and Tihar De Dhana Dhan to all the customers across the country on an auspicious occasion of Dashain and Tihar.

Under the new scheme buyer of all Yamaha models would get sure shot prizes, said the company.

The prize includes cash discounts, scratch cards, and a bumper prize. Under the scheme buyers of Gladiator, Alba normal and Crux would get cash discount of Rs 10,000 for both cash and financing purchase. Similarly, scratch card with cash coupon of Rs 5,000 to Rs 100,000 will be offered to the buyers of Enticer, Alba ES, JYM, R-15 and FZ brands for both cash and financing purchase.

Bumper Prize is offered to all the buyers of Yamaha Bike, in which 26 lucky buyers will get their purchase amount of the bike through a lucky draw done individually at respective dealer's showroom across the country. The scheme starts from August 24.

FNCCI is All for Revised Trade Treaty

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today welcomed the revised Trade Treaty signed between Nepal-India. "It will expand the trade and investment in Nepal," said the umbrella organisation of the Nepali private sector.

Prime Minister Madhav Kumar Nepal's recent five-day visit to India has revised the Trade Treaty.

"The PM's interaction with Indian businessmen and entrepreneurs has also broadened the horizon of Indian investment in Nepal," it said.

With the new Trade Treaty a new trade era would begin, hoped FNCCI that has, along with other trade and commerce related organisations, calling for an equal status treaty since long.

Nepal-India Trade Treaty of 1996 is considered a milestone in trade promotion and Indian investment in Nepal.

Th revised treaty has been signed tentatively and it is hoped that it will simplify Nepal-India trade.

However, FNCCI voiced concern over the four per cent additional tax that wil hit Nepali garment exports. "If the treaty is followed in its spirit, Nepal can gain a lot," said FNCCI, Nepal Chambers of Commerce (NCC) and other business and trade-related organisations.

Sunday, August 23, 2009

Syakar´s Green Planet Painting

Syakar Company organized a Green Planet Painting Competition for children at Honda showroom in Dhobighat of the capital. According to a press release issued by the company, over 100 students participated in two categories under the Honda philosophy of Safety, Efficiency and Environment (SEE).

“We especially chose the children´s painting competition, because they should be able to take care of environment. We want to create awareness since climate change is posing a threat worldwide,” Saurabh Jyoti, director of Jyoti Group, said on the occasion.

The children participated in two categories -- under 10 years and between 10-15 years. Winner of the competition got Philips music system while other winners got Philips DVD players and Philips radio sets as prizes.

Syakar recently launched Honda Jazz car in Nepal. All recent Honda car models have i-VTEC engine, which has low emission and is friendlier to environment.

Nepse Down for Five Days in a Row

Amid slim chances of announcement of bonus and rights shares by companies and rumors of promoter share coming into the stock market, Nepal Stock Exchange (Nepse) index continued to go down for five consecutive trading over increasing selling pressure.

The benchmark Nepse lost 6.81 points to close at 703.01 points on Sunday, the first day of week´s transaction. Stock analysts said investors are on selling mood amid less probability of the announcement of bonus and right share and rumor of promoter share doing rounds in the secondary share market.

“As paid of capitals of most of the banks have crossed over Rs 1.6 billion and they can arrange remaining Rs 400 million from reserve, chances of registering new bonus and right share in coming days are very less,” Nanda Kishore Mundada, president of Nepal Stock Brokers Association, told on Sunday.

Mundada also said arrivals of promoter shares in the secondary market also pushed down the share price as investors expect further fall in price.

During Sunday´s trading session, Banking group, a major player in the stock market, lost 8.9 points to drop at 745.7 points, triggered by the decline in share prices of Bank of Kathmandu, Citizens Bank International, Everest Bank, Nabil Bank and Standard Chartered Bank. Likewise, sub-index of Development Bank group, also shed 8.2 points to close at 712.56 points, due to drop in share prices of Ace Development Bank, Shuvechha Bikas Bank, Pashupati Development Bank and Gorkha Development Bank. Finance and Insurance groups also lost 2.64 points and 3.13 points to close at 671.01 and 638.68 points respectively. Others group also saw its sub-index drop by 5.87 points to close at 657.94 points. However, Hydropower group, gained 2.06 points to close at 879.68 points.

Total transaction reached to Rs 74.9 million with 89,704 units of shares changing hands through 810 transactions. Total market capitalization, total worth of share in the stock market, stood at Rs 492.99 billion at the end of Sunday´s transaction.

Gold a Good Investment

Investment demand for gold was very high in the second quarter of 2009, rising by 46 per cent on year earlier levels.

Overall demand for gold fell back from recent high levels as weak economic conditions and high gold prices combined to impact demand, accordin to the Global gold Report.

Although gold demand remains very high on a historical basis, total demand in second quarter of 2009 was down by nine per cent on the levels of a year earlier, a six per cent decline in US dollar value terms.

Central banks will continue to hold gold as a Reserve Asset and important part of their reserves to provide protection, should the monetary system suffer extremely damaging fractures, read the report.

Force's Offer

Force Construction and associates have introduced Dubai and Turkey travel offers. The company believes the visit will strengthen relations between the customer and the company and that customers will have the opportunity to see the amalgam of European and Asian civilisation in Turkey. Force Construction & Associates Pvt Ltd, are representing L&T-Case and L&TKomatsu made various construction equipment in Nepal as their dealer for sales, service and spare parts. L&T-Case Equipment Pvt Ltd, is a 50:50 joint venture between Larsen & Toubro and CNH Global, USA, for manufacturing L&T-Case Backhoe Loaders and various types of vibratory compactors.

NIC Foundation Aid for Jajarkot Victim

NIC Foundation has contributed Rs 51,101 for the Jajarkot diarrhoea epidemic victims. NIC Foundation is an independent organization promoted by NIC Bank for carrying out Corporate Social Responsibilities. The foundation is active in several charities. It has contributed to donating an ambulance each to Marwardi Sewa Sadan of Lahan and Mid-Western Regional Hospital of Surkhet through NIC Bank and given scholarships to 40 students across the country, aside from many philanthropic activities.

Revised Trade Treaty with India to Energise Nepal

The revised Nepal-India Trade Treaty will enhance Nepal's International trade, said Minister for Commerce and Supplies, Rajendra Mahato here today.

Speaking at a press meet at Reporters' Club, he said India has provided Rs 32 billion for Nepal's postal road construction, railway area development and development of a Police Academy.

While the revised treaty is yet to be formalised it is certain that Nepali exports will get a boost, he said adding that it will support the economic development of the country.

The trade treaty has greatly supported the proposed economic enhancement that will give tremendous relief to Nepalis. According to minister Mahato, the revised trade treaty will be renewed every seven years. "Earlier, it used to be renewed every five years," he added.

The revised treaty has also added five new trade routes to the existing 27 for trade. "Nepali industrial machinery that is up to 10 years old can also be sent to India for repair,"
said the Commerce and Supplies Minister, who accompanied Prime Minister Madhav Kumar Nepal on the five-day India visit.

Hereafter, Nepali flowers, medicinal herbs, essential oils, flour, refined flour will get duty free access to India, according to the revised treaty that is yet to be finalised.

Both the South Asian neighbours have already put their initials and the Indian Commerce Minister will soon visit Nepal to ratify the revised treaty. It mainly widens the facilities for Nepal and addresses non-tariff barriers, additional duty and standards-related hurdles that Nepali exports have suffered from for the last five years.

Export procedures for goods like acrylic yarn, copper, zinc and vegetable ghee will be simplified and measures will be taken to facilitate agro-based exports. India will recognise Nepal´s standard certification and upgrade Nepali labs to ensure standards accreditation. Nepali agricultural produces will no longer be needed to go to Kolkata or Patna for lab tests. This will save Nepali traders from huge losses.

At present, Nepal has a trade deficit of over Rs 107 billion with India.

Speaking on the occasion, Minister for Energy Dr Prakash Sharan Mahat said that Pancheswor Multipurpose Project will be started soon which will help reduce load-shedding. "India is ready to provide support for regualr supply of electricity," he said adding that the present transmission lines will also be upgraded.

Govt to Develop Tourist Spots

Minister for Local Development Purna Kumar Sherma Limbu has voiced the government's commitment towards the development of religious and tourist sites across the country.

Minister Limbu said this while talking to journalists after inaugurating the boating festival organized by the local women's group at Biratpokhara, Anarmani, today.

The boating event was organized on the occasion of Teej festival. The minister said that the government would provide whatever assistance possible for the development of Biratpokhara, a place of historical significance in Jhapa district.

The minister also stressed that the local people should themselves strive for the development of their area.

He said the government will bring special programmes for the reconstruction of the physical infrastructure damaged by floods and landslides and for the management of rescue and relief to the flood-affected people.

Minister Limbu ruled out any change of government and said the reason why the Maoist-led government collapsed was its own shortcomings and also because it lost the confidence of the House majority.

He also claimed the new Constitution would be drafted within the stipulated time and sought the cooperation of all to that end.