Monday, April 19, 2010

FNCCI sends two more JITCO trainees

Federation of mbers of Com Nepalese Chambers of Commerce and Industry (FNCCI) has sent two industrial trainees to Japan under Japan International Training Co-operation Organisation (JITCO). Tila Hamal of Bardiya and Chemjong Tamang of Rasuwa district left for Japan on Monday to get advance training in fishery. FNCCI has already sent six trainees to Japan last year and it is planning to send 36 to 20 female and 16 male trainees in near future.

Manpower agencies decry GAMCA monopoly

Nepali outsourcing agencies and health professional promised to fight jointly against the Gulf Cooperation Council (GCC) approved Medical Centre’s Association (GAMCA), which has monopoly in medical check up for overseas-bound Nepali migrant workers.
“We should be united to solve the problem,” Kumud Khanal, general secretary of Nepal Association of Foreign Employment Agencies (NAFEA) said in a programme organised here today. He urged Nepal Health Professional Federation (NHPF) to take the case seriously and start pressurising the government. “We should handle the case diplomatically,”

he said adding that traditional type of protest programmes could not solve the problem.
NHPF has been fighting against GAMCA monopoly in medical check up of Nepali migrant workers going to GCC countries since March 2009. The umbrella organisations of 153 medical centres have already staged sit-in, street

protest and padlocked five GAMCA offices in Kathmandu.
The GCC countries include Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates (UAE), Oman, and Yemen. Among them Saudi Arabia, Qatar and the UAE are the major destinations for Nepali migrant workers. Those countries have hired around

12,849 Nepalis from mid-March to mid-April that is over 40 per cent of total migrant workers.
Gyanu Gaire, second vice-president of NAFEA promised joint efforts to solve the problem by providing equal opportunities for NHPF members. “NAFEA wants equal opportunity for 153 medical centres registered under Foreign Employment Act,” he said, “At least GAMCA biding process should be acceptable to all.” GAMCA has criteria — while appointing medical centres — like a medical centre should have adequate physical facilities and expertise to accommodate the pressure of clients, must abide by the GCC standard in medical examinations and must pay inspection fees, registration fees and membership fees in time.

Dutch aid key to Nepal

50th anniversary of diplomatic tie

Dutch economic co-operation has played an important role in the socio-economic development process of Nepal over the last 50 years, said Pramesh Kumar Hamal, Nepali ambassador to BENELUX countries and EU while inaugurating the 50th anniversary programme of establishment of diplomatic relations between Nepal and the Netherland.
“Economic agenda would take the centre stage once the political issues are settled in Nepal,” he said calling for a more effective partnership between the two countries for the promotion of tourism in Nepal.

He also emphasised the importance of multiple economic linkages between the two friendly countries in the days ahead. “Netherlands attached importance to the relationship with Nepal,” said Representative of Dutch Foreign Ministry and head of South Asia Division Harry Van Dyke. “Assistance to Nepal

would continue through channels of multilateral and non-governmental organisations,” he added.
On the occasion, European Economic Chamber of CommerceNepal (EECC) displayed items of Nepali export products like tea, coffee, Pashmina and handicrafts.

Over 300 distinguished persons representing the Dutch foreign Ministry, other government offices, politicians, ambassadors and senior diplomats, Non-resident Nepalese Association of Nepal (NRNA), NGOs, friends of Nepal, travel agents and tour operators, private business houses, and many took part in the programme.

Embassy of Nepal in Brussels with active co-operation from the office of the Consul General of Nepal in Amsterdam, the NRNA-Netherlands Chapter, Arke fly Group, Nepal Development Academy, Nepal Tourism Board (NTB), and Nepal Music Foundation jointly organised the anniversary celebration programme in Hague city.

IFC, Clean Energy Development Bank seal deal

IFC — a member of the World Bank Group — has partnered with Clean Energy Development Bank Ltd to help the bank increase finance for sustainable energy and energy efficiency projects.
IFC is advising the bank to adopt an approach that will help the bank identify opportunities for renewable energy and energy efficiency financing. IFC’s assistance will include training for staff to improve their skills when evaluating proposals on energy efficiency and renewable energy financing, as well as product development and marketing, and engineering due diligence for energy efficiency projects.

The bank also will benefit from IFC’s initiatives on energy auditor development, market potential studies, and targeted awareness and training activities related to sustainable energy finance.

“The energy crisis in Nepal is acute,” Manoj Goyal, CEO of the Clean Energy Development Bank, said at the signing ceremony here in Kathmandu today. “At the same time, there is a huge potential for renewables in this country,” he said adding that with IFC’s support, the bank would be able to expand the sustainable energy finance market in Nepal.

The SouthAsia Enterprise Development Facility — managed by IFC in partnership with the United Kingdom’s Department for International Development and the Norwegian Agency for Development Cooperation — is providing advisory support to the Clean Energy Development Bank and the financial sector to train bankers on energy efficiency and renewable energy financing.

“Clean Energy Development Bank has pioneered sustainable energy finance initiatives in Nepal,” Ian Crosby, Head of the SouthAsia Enterprise Development Facility, said. “We are excited to be able to support them in promoting renewable energy and energy efficiency projects and manage risks better.” IFC is a member of the World Bank Group and creates opportunity for people to escape poverty and improve their lives.

Similarly, Clean Energy Development Bank, is a national level development bank established with a primary focus on developing clean energy and the hydropower sector in Nepal. In commercial operation since September 2006, the bank has a technical collaboration with Winrock International, an international organisation working in Nepal in energy sector, and is supported by USAID.

Besides debt financing, the bank offers assistance to the clean energy and hydropower projects by way of private equity and advisory and consulting services.

Spice brings QT 44 mobile phone sets

Teletalk Private Ltd — the authorised distributor of Spice brands of Mobile phone sets in Nepal — has launched QWERTY series’ of mobile phones; Spice QT 66 sets.
The same series’ of Spice QT 44 and Spice QT 55 are already being sold in the market. Spice QT 66 — priced at Rs 8,890 — is a multi SIM phone with QWERTY keypad, the company said. “It has Wi-fi system so that a customer can surf net and use social networking sites freely.” The handset has 8 GB expandable memory, wireless FM, stereo Bluetooth, GPRS/EDGE and 2 MP camera.

Phillips New Offer

Syakar Company Ltd the sole distributor for Philips consumer lifestyle products in Nepal since 1982 -has brought an innovative New year offer `Old is Sold' which allows customers to get the new Philips LCD TV in exchange of an old one or any old electronic items in any conditions will be valued at minimum Rs 8,000. This offer is applicable in 32" & above sized LCD TV and will be available at all Philips Showrooms and dealers across Nepal. Philips is one of the world's largest electronics company offering wider range of products such as Television, Home Theatre System, DVD player, Music System, CD Player, Mobile Phone, Computer Monitor, Lighting Materials and Home Appliances.

New Hotel in Sauraha

Jungle Safari Lodge a new hotel has started its services in Sauraha from the New Year’s Day.
The hotel’s sales and marketing manager Suman Ghimire said that the hotel is looking forward to cater to both local and international tourists. “The hotel is established to fill the void of standard hotels in Sauraha,” he said adding that they have tried to provide all the amenities that an ‘A’ grade hotel offers. “The hotel is completely reconstructed and is new”, Ghimire said. “The hotel offers 20 air-conditioned rooms with wi-fi facility.” Similarly, it has labelled itself as a handicapped-friendly and wishes to provide comfortable stay for all its guests, according to him, “We have already spent Rs 300 million for the hotel.” It has also introduced different packages for the internal tourists on the occasion of New Year.

Wednesday, April 14, 2010

SDBL's safe locker

Siddhartha Develop ment Bank Ltd (SDBL) has started a safe deposit locker facility. At present, this facility is available at SDBL's central office in Tinkune. The bank's customers can keep their valuables and documents in its lockers for safekeeping. SDBL plans to extend this service to other branches as well.

Civil Bank gets provisional Letter of Intent

Civil Bank Ltd (proposed) has received a provisional Letter of Intent (LoI) from Nepal Rastra Bank, the central authority. “The proposed commercial bank is planning to deposit 45 per cent cash of the promoters’ share in around 10 days to get the LoI,” said Kishore Maharjan, chief executive officer (CEO) of the bank.
Earlier, some of the proposed commercial banks could not deposit the required sum at the central bank forcing the central bank to revise its rule of awarding Letter of Intent. Currently, Nepal Rastra Bank (NRB) provides provisional LoI first and gives a month’s time to deposit the 45 per cent deposit before awarding the Letter of Intent.

“We are planning to start operations from the first week of the next fiscal

year," Maharjan said adding that the proposed commercial bank has 149 promoters -mostly l from the housing busi ness. The proposed bank will have Rs 2 billion au thorised capital.
l It is the 12th company of Civil Group -a renowned name in the housing busi ness. The Civil Group also has Civil Merchant Bittiya Sanstha and Civil Savings and Credit Cooperative.
There are total of 27 commercial banks at prel sent and a couple of pro posed commercial banks have also acquired Letters of Intent. Megha Bank Nepal, Century Commer cial Bank, Business Bank, l Commerce and Trust Bank are some of the pro posed commercial banks in the pipeline.

NRB had temporarily stopped the registration of new financial institutions -including commercial banks, development l banks and finance compa nies — in August 2009 citing that the existing number of banks in a small economy like Nepal was already more than enough.

However, Maharjan thinks that there is still room for new financial institutions “as the outlet of the financial institutions is much less than required, though the number of financial institutions seems to be more.” Since only a quarter of the population has access to banking channels, the central bank also could not decide on the exact number of financial institutions that Nepal needs.

According to the central bank’s data, by the end of the first six months of the current fiscal year, there are 255 financial institutions in the country. “By the end of Poush (December-January), there were a total of 845 branches of commercial banks,” said the central bank.

Kawasaki Ninja 250 strikes

After generating overwhelming response in India, Bajaj Auto today announced the launch of the muchawaited Kawasaki Ninja 250R. It is widely acknowledged as the best 250 cc motorbike in the world. In Nepal, it will be available exclusively through the recently-opened Bajaj Probiking Corner at HH Bajaj in Kathmandu.
Commenting on the launch, Hansraj Hulashchand and Co-executive director Shekhar Golchha s a i d , "We are v e r y pleased to launch the super sports Kawasaki Ninja 250R in Nepal which has unmatched performance yet at an affordable price". He added that it is the no. 1 selling bike in the world.

The sales target as stated by Golchha is about 100-150 bikes within 2010.
However, fifteen bikes have been already booked before the launch. The bike -powered by a 250cc parallel twin engine that belts out 33 hps-is a true supersport motorcycle that draws its lineage from the legendary larger Kawasaki Ninja. But what makes it unique is its perfect combination of performance, riding comfort and ease of handling.

Himalayan Bank opens branch at Sohrakhutte

Himalayan Bank Ltd inaugu rated its 28th branch at Kathmandu's Sohrakhutte on Wednesday. "We'll be pro viding full-fledged banking services to the people of Sorhakhutte and adjacent areas," said the bank that has collected Rs 37.07 bil lion deposit and lent Rs 31.46 billion in the first eight months of the current fiscal.