Nepal Chamber of Commerce Concerned

Nepal Chamber of Commerce (NCC) has voiced serious concern over the latest political turmoil in the country. NCC said the present political situation would eventually disturb the ongoing peace process. It has identified sustainable peace and economic transformation as the major issues these days. It also urged political parties to end instability through consensus.

Standard Finance's New Office

Standard Finance Ltd (SFL) on Thursday inaugurated its corporate building at Kamal Pokhari.

The company has a branch office each at Banepa, Patan, and Birgunj and plans to establish branches at Nayasadak, Narayangarh, Butwal and rural areas. It is also planning to upgrade to an A-class commercial bank after giving 1:5 rights shares.

NBL’s Profit Up

Nepal Bank Ltd (NBL) registered a net profit of Rs 876.5 million, an increase of 158 per cent compared to the same period last year, which was Rs 338.5 million.

According to a press release, the bank has an operating profit of Rs 1.26 billion, an increase of 350 per cent compared to the same period last year, which was Rs 222.5 million. The bank under CEO Dr Binod Atreya has lowered its NPA to 10.12 per cent

Nine-day Book Expo from May 15

Global Exposition and Management Services (GEMS) — in cooperation with National Booksellers and Publishers’ Association of Nepal (NBPAN) — is organising Nepal Education and Book Fair 2009 from May 15 to 23 in Bhrikuti Mandap Exhibition Hall here.

“It is the 13th educational expo that GEMS will organise since 1997. The fair will have a four-day education and career fair that will end on May 18 while the book fair will run for five days and end on May 23,” a press release said. The book fair aims to establish reading culture among Nepalis and provide opportunity to interact with domestic and international education institutions. The fair will have 160 stalls of educational institutions and publication houses from Nepal, the United Kingdom, Australia, Singapore, Malaysia, Bangladesh and India. The organisers expect that 1,50,000 visitors will take advantage of the nine-day fair.

The event is supported by Padmashree Group of Institution, Informatics College, EKTA Book Publishers and Distributers, Indo-World Educational Consultancy, Worldlink Communication and Himalayan Infosys.

DDC Budget Allocated

District De-velopment Committee (DDC), Dhanusha has allocated Rs 302.8 million for the fiscal year 2009-10. The budgetary allocation has been made under the social transformation development programme focusing on the problems of the povertystricken population. It is believed that the budget allocated will improve the infrastructure development in the district, such as roads.

According to the programmes presented by the 15th District Council, major budgetary allocations have been made under the heads of agriculture development, infrastructure development, rural livelihood support and promotion of inclusiveness programme. 

Lokta Defies Recession

Untouched by recession, the export of Nepali Lokta paper grew by 14 per cent. In 2008, the total export of Nepali Lokta paper was more than Rs 300 million directly and Rs 200 million indirectly due to tourists arriving in Nepal.

“The first six months’ export data of Nepali Lokta paper this year has shown an increase of 14 per cent compared to the same period last year,” said Milan Dev Bhattarai, president of Nepal Handmade Paper Association (HANDPASS).

Due to continuous brand promotion and effective lobbying in different countries, Nepali Lokta paper has been successful in creating its identity at the international level. “It’s been more than three years that we are doing brand promotion of Nepali Lokta paper in the international market, and thus we were not affected by global recession,” said Bhattarai adding that export orders are quite satisfactory and there are possibilities of more orders from abroad.

The major countries importing Nepali Lokta paper are Switzerland, England, France, Germany, the USA, Canada, Japan and Australia.

“The major exportable items of Lokta paper are in the form of packaging paper, stationery items, greeting cards and different gift items,” he said.

Along with the demand for Nepali Lokta paper in the international market, HANDPASS is also preparing for its consumption in the domestic market.

HANDPASS is trying to promote Nepali Lokta Paper for artistic purposes in the local market and simultaneously create another exportable item.

“We are very excited that with the new fiscal year Nepali handmade paper will be used for official documentation purposes.

This will definitely increase the total export and consumption in the local market also by 25 per cent,” said Bhattarai.

HANDPASS is also trying to encourage use of Nepali Handmade paper in hotels, restaurants, private offices and organisations. “Market trends here are changing, and people seem interested in the use of Nepali paper as gift items and for official uses,” Bhattarai said adding that it was really encouraging to see the use of Nepali handmade paper in local business houses and organisations as well in documentation, legal purposes, certificates, visiting cards and greeting cards.

Nepali Lokta paper has already made registered its brand with the EU. Back home, it recently got the approval for use in government and legal correspondence. Nepali handmade paper in the early days used to be compulsory in government and legal correspondence, but it was suddenly discarded.

Till 1998, property ownership certificates issued by the Ministry of Land Reform and certificates of citizenship as well as passports issued by the Home Ministry used to be made from Nepali handmade paper of Nepal, but after that the paper for these purposes began to be imported from foreign countries. Instead of handmade paper, white paper was used for the preparation of property ownership certificates and ivory paper for passports.

Banking Activities on Rise in Mid, Far west

With a favourable environment for investment and improvement in trade and commerce activities, banking transactions have also witnessed a significant rise in Nepalgunj as well as other districts and towns in mid and far west Nepal.

Even in hilly and mountainous districts, where banking activities were near zero during the conflict, commercial banks have expanded their services. According to the Nepalgunj office of Nepal Rastra Bank (NRB), commercial banks, development banks and financial institutions have intensified opening of their branches in 18 districts of mid and far west Nepal.

There are 130 branches of different financial institutions in these districts.

In Nepalgunj alone, 14 commercial banks, five development banks and six finance companies are providing their services while a few more banks are gearing up to open their branches.

Due to the rise in banking activities, banks’ deposit base rose by 32 per cent and investment by 18 per cent this year as compared to the deposit collection and investment during the previous fiscal year.

The deposit base of all banks rose to Rs 9.35 billion by mid-January. They have invested Rs 5.5 billion during the same period.

SWAN, HAN to Launch Spa Tourism

In a bid encourage domestic tourism, Spa and Wellness Association of Nepal (SWAN) along with Hotel Association of Nepal (HAN) is set to launch spa and wellness tourism for people from all walks of life.

During a press meet organised jointly by HAN and SWAN on ‘Nepal Spa and Wellness Sustainable Tourism’ here in the valley today, professor at TU Teaching Hospital Dr Tara Man Amatya said, “Spa and Wellness tourism can be a new product offering new dimensions.” According to him, the presentation of medical tourism would be a new concept and which can attract tourists from both the international and national levels.

Through extension and establishment of spa centres in hotels and in the local market, the number of tourists from both the levels can be increased.

“ With new emerging concepts, we need to boost different factors that can boost tourism. We have to think beyond trekking and mountaineering as we have many more natural resources to encourage tourism,” said Dr Amatya.

According to SWAN president Prakash Shrestha, currently there are spa facilities at only four or five hotels and if spa centres are established at the local level along with hotels, it can generate employment opportunities at the local level. “ We will conduct different awareness programmes along with training for people here,” said Shrestha. “At present, the spa centres are available mainly at either four-star or five-star hotels and are quite expensive. Only high profile families can afford it. However, now we are trying to make it affordable for each and every class of people by setting standards and maintaining levels,” Shrestha added. “If the plan works, it will surely encourage domestic as well as international tourist arrivals and contribute to increasing their stay period here,” he said.

Sponsored by Nepal Tourism Board (NTB) and supported by Asia Pacific Spa and Wellness Coalition and Nepal Airlines Corporation, SWAN along with HAN is going to organise a series of events amongst which it is going to organise the Nepal Spa and Wellness Sustainable Tourism Seminar that will take place on May 7.

Computer Guru in The Market

Sky Shop Nepal has brought its new technology, ‘Computer Guru’ in the market. According to a press release, the technology will be helpful enough for Intermediate package and Executive level aimed at computer literate people

Bank of Kathmandu Now in Chabahil

Bank of Kathmandu (BoK) has started its banking services from Chabahil branch office from Wednesday. With its new branch office at Chabahil BoK now has a total of 27 branch offices and six ATM counters, said a press release.

Bank of Asia Nepal in Narayangarh

Bank of Asia Nepal (BoAN) on Wednesday started its service from Narayangarh branch office.

During the first three month of the present fiscal year the bank has made a collection of Rs 6.62 billion and floated loan of Rs 6.18 billion, states a press release. The bank is planning to establish its branch offices at Samakhusi, Bouddha, Kaushaltar, Baghbajar, Pokhara, Butwal, and Nepalgunj from mid June

Everest Bank Posts Profit

In a board meeting of the bank held on Sunday May 3, 2009. Everest Bank declared that its operating profit increased by 50.64 per cent to Rs 825.3 million during the first nine months of 2008-09 compared to same period last year. Its deposit base also increased to Rs 29659.5 million — an increase of 31.95 per cent compared to the corresponding period last year. “The NPA has reduced to 0.48 per cent,” said the bank. During the nine months of this financial year, the bank opened a branch each at Besisahar, Golfutar and Kirtipur. A new branch at Kusma will be operative within a week alongwith three more branches at Lagankhel, Thamel and Maitidevi in Kathmandu Valley and two branches outside in Surkhet and Tulsipur.

The IPO Sun Rises for Sunrise Bank

For the first two days — Sunday and Monday — in the invite for primary share applications for Sunrise Bank, a total of 84,185 applications worth over Rs 2.51 billion were collected.

“On Sunday, a total of 19,185 applicantions worth Rs 811.35 million were received and on Monday.  A total of 65,000 applications worth Rs 1.70 billion were received making it a total of 84,185 applications worth over Rs 2.51 billion,” said Niraj Giri, director of the Securities Board of Nepal (Sebon) — the regulatory authority of the capital market.

The protests and uncertain political situation in the first two days of the week are thought to have made people hesitant whereas today the would-be-investors’ queues could be more visible around town. The primary issue of 37,50,000-unit shares worth Rs 375 million — the largest among commercial banks — at Rs 100 per unit par value each has been floated from Sunday. 

Sunrise Bank expects a total of over Rs 6 billion worth of applications — over 20 times the issue. If such an encouraging situation persists over the next two days — today and tomorrow — the bank’s expectations might be easily met.

The capital market is considered a mirror of the economy. However, the Nepali capital market has not yet been able to reflect the economy as Nepse today posted a rise of 7.68 points (1.2 per cent) to 648.57 points just a day after the government led by Prime Minister Pushpa Kamal Dahal ‘Prachanda’ resigned yesterday.

“The Nepali capital market is still not mature, it is influenced by a handful of people,” said Dr Chiranjivi Nepal, former chairman of Sebon. “It’s not an isolated case, the market in the past too never reflected the prevailing economic or political uncertainty,” he added. Another trait of the Nepali capital market is that it is dominated by financial institutions. The share of the financial institutions in the total share trading in the sole secondary market stands at over 95 per cent in 2065 BS — mid-April 2008 to mid-April 2009. The commercial banks’ sub-group has 45.37 per cent, finance companies’ sub-group has 26.77 per cent and development banks’ sub-group has 23 per cent share, making it to a total of 95.14 per cent between mid-April 2008 to mid-April 2009.

The remaining six sub-groups — trading (2.05 per cent), hydropower (1.47 per cent), insurance (0.89 per cent), others (0.35 per cent) and manufacturing and processing (0.1 per cent) — have less than five per cent share in the total trading.

 In power-starved Nepal, the hydropower companies’ performance also cannot not be called satisfactory. “For sustainable development of the Nepali capital market, the presence of more manufacturing sectors apart from more brokers and Central Depository System (CDS) is a must,” added Dr Nepal.

GUNA AIR STARTS IN OPERATION

Guna Airlines started its operations from on Tuesday. Promoted by the Guna group of companies, it launched its flight in the Nepali sky with two Beechcraft 1900s.

“Currently we are flying on the Kathmandu-Pokhara-Kathmandu, Kathmandu-Biratnagar-Kathmandu, Kathmandu-Nepalgunj-Kathmandu and mountain flights,” said Rajendra Shakya, executive chairman of Guna Airlines.

Shakya said Guna is concerned about safety measures and that safety plans are carefully followed and regulated on a daily basis under the guidelines of ICAO and Civil Aviation Authority of Nepal (CAAN).

Beechcraft 1900 — a 19-seater aircraft — simply called the ‘Beech’, is a pressurised twin-engine aircraft used as a corporate transport by several governments and the military around the world. 

The aircraft is capable of flying well in excess of 970 km/h and is the most popular in the domestic sector. “With focus on safety and service, Guna aims to hold out a steady competition to the already established market-leaders in the aviation service sector,” Shakya said. 

The airlines has also brought various discount schemes — for the time being — for infant, group of 16 full adult fare paying passengers and for 11 full adult fare paying passengers. 

The new airlines’ entry in the national sky will centainly fuel competition, even though the Nerpali sky is not so crowded yet.

Guna empire was initiated as a small gold shop known as Guna Jewellers in Patan in 1984 and it has now grown into a multi-industry company in the short span of just 25 years. 

By 1997, Guna Cinema Pvt Ltd, Guna Co-Operative Ltd, Asian Food Cold Storage Pvt Ltd, Guna Colony Pvt Ltd, Guna Smriti Sewa, Gyan Bikash Secondary School, Stupa Housing Pvt Ltd had already come in operation under the group, said the company management. gunaairlines.com

DETTOL LAUNCHES GLOBAL VARIANT IN NEPAL

Reckitt Benckiser,  announced the launch of its Dettol Fresh Range – with a great fresh fragrance and the promise of Long lasting Freshness

Keeping in mind the climatic conditions prevalent in Nepal Dettol Fresh Soap has been formulated using a perfect blend of ingredients to give relief from heat and sweat so that one stays fresh for long time. Dettol Fresh Liquid Handwash gives a Fresh and clean feel during handwash. All this while retaining superior protection of Dettol whereby it provides 10 times better protection from germs as compared to ordinary soaps.

Dettol Fresh range has been introduced in Bar soaps and Liquid handwash. The bar soaps are priced at Rs. 29/- and Rs. 47/- for 70gm and 120gm respectively. The liquid handwash will be available in three sizes - 250ml pump at Rs. 88/-, 185ml pouch at Rs. 48/- and 900ml refill pack at Rs. 135/- The pricing is at par with the existing portfolio of Dettol soaps and liquid handwash.
As part of an introductory offer, a discount of Rs. 3/- and Rs. 6/- is being offered on 70gm and 120gm soap bars respectively. This offer is valid for limited Stock.

Mr. Chander Mohan Sethi, Chairman & Managing Director, Reckitt Benckiser India said, “Dettol Fresh is a widely accepted global variant – and has been adopted by consumers willingly wherever it has been launched. The products have been developed keeping in mind the key consumer need of ‘Freshness’ when it comes to bathing as well as handwashing, while ensuring that, like all Dettol products, it gives the most superior protection to the family ”

An extensive consumer survey was conducted to determine the product acceptability amongst the target audience. The key findings pointed towards a strong appreciation and liking for the product due to the freshness that its new pleasant fragrance provides. Overall, the product was well appreciated across age groups for its fragrance, skin feel,, and pleasant yellow colour.

“The consumer survey confirmed our belief and further established the acceptability for Dettol Fresh. We are extremely confident of the product’s success in the Nepalese market. A focused campaign offering a mix of print, television advertising, outdoor media, and in-store promotion has been planned to support the the product”, Mr. Sethi further added.

About Dettol
DETTOL is a brand of Reckitt Benckiser and has stood for “trusted protection” in India since 1933. The brand is endorsed by the Indian Medical Association and has consistently been voted as one of India’s Most Trusted Brands (ORG Marg Brand Equity Survey).

About Reckitt Benckiser
Reckitt Benckiser (India) Limited, formerly known as Reckitt & Colman (India) Ltd is one of the fastest growing consumer goods companies in South Asia. In India, it has many brands namely - Dettol, Harpic, Mortein, Lizol, Cherry Blossom, Vanish, Easy Off Bang, Veet, Colin, Disprin, Strepsils, Clearasil and others. It has major presence in home and personal care, surface care, fabric care, pest control and healthcare. The Company has operations in 60 countries, sales in 180 and employs 22,000 people around the world. Globally Reckitt Benckiser plc is headquartered in Slough just outside London, UK and is listed on the London Stock Exchange. For more information visit: http://www.reckittbenckiser.com/

LBL, Bhatbhateni Join Hands

Laxmi Bank Ltd (LBL) and Bhatbhateni Supermarket today jointly launched 'Bhatbhateni Club Card' the first of its kind in Nepal.

Speaking on the occasion, Laxmi Bank CEO Suman Joshi said that a cobranded card in partnership with Bhatbhateni Supermarket is in line with the bank's continuous efforts to create a bigger and better experience for Laxmi Bank customers. "It is our privilege to join hands with Bhatbhateni Supermarket to offer a new and delightful experience to our common customers - they get the best of both worlds - a unique shopping experience as well as world class personal banking solutions," he said adding that this was a win-win situation for all three parties concerned and that the bank is keen to develop the alliance further by introducing more value-added services for cardholders.

"Laxmi Bank takes pride in being a pioneer in introducing innovative retail banking solutions," CEO Joshi said adding that the bank currently has a paid up capital of Rs 1,098 million.
The card can be used at any of Laxmi Bank's eight branches inside Kathmandu valley at the time of opening a savings account at the bank.

The Bhatbhateni Club Card - designed to offer shoppers loyalty points that can be exchanged for goods/services at the stores - can be used at both Bhatbhateni stores at Maharajgunj and Bhat Bhateni.

All purchases of Rs 500 or more will accumulate points and the customer will be entitled to collect points only when the card is presented at the sales counter. "When the points total a 200 mark the customer will receive vouchers that will be worth gifts or free shopping coupons.
Bhatbhateni Supermarket has grown from a 'single shutter' 120-sq ft cold store to become one of the leading supermarkets in Nepal today.

It has been the highest taxpayer in the sector for the last five consecutive years with more than 10,000 customers daily.

Meanwhile, Bhatbhateni' official website was also launched to provide customers as well as stakeholders complete information regarding the superstore.

NMB Bank's 7th Branch

NMB Bank Ltd opened its seventh branch office at Lubhu, Lalitpur, on Thursday. According to a press release, the bank aims to establish four more branch offices within this fiscal year making it a total of ten branch offices.

Everest Bank Technology Upgrade

Everest Bank Ltd (EBL) has upgraded its computerisation to 'Finacle' developed by Infosys, a reputed and global brand. "With the Finacle system, the entire core banking including internet banking is now available at EBL for its customers," said the bank. All its existing 29 branches - plus the six mre branches to be opened in the next two months - will now operate like one bank with online communication and transfer of data among the branches and the head office. The bank also has 'Disaster Recovery Site' (DRS) so that if any central data system gets damaged, duplicate records can be automatically available. EBL has entered into an accord with CAS Trading Pvt Ltd, Nepal, and Appnomic System Pvt Ltd, Bangalore, for the the DRS.

Nepal Telcomm Slashes Postpaid Charges

Nepal Telecom GSM postpaid mobile - that used to cost Rs 50,000 ten years ago - will now cost only Rs 2,130. NT started the GSM postpaid service in 1999. During the early days, the total charge for getting a post paid mobile phone including set was Rs 50,000. "From April 30, NT has slashed it to rs 2,130," said Surendra Thike, spokesperson for NT.

Now onwards, the credit limitation will be Rs 1,000 and the ownership charge will be Rs 1,130.
"NT has made the activa tion charge - that was Rs 565 and registration charge that was Rs 50 - free," he said adding that earlier the credit limitation charge was Rs 3,000.

"If a person has monthly expense of around Rs 400, it is better to use GSM post paid mobile now as now it has become cheaper," suggested Thike adding that a call per minute made by GSM post paid mobile is Rs 1.60 from 6 am to 10 pm while the cost through prepaid is Rs 2 per minute. The total number of GSM post paid mobile user is around 1,00,000 while pre paid mobile users are 25,00,000 making it to a total of 26,00,000.

Mobile Tracking Software Launched

Here's something that mobile owners can exult over.

Mobile Association of Nepal (MAN) introduced 'mobile tracking software' at the Mobile Expo 2009 here today. The new mobile tracking software is expected to reduce mobile theft.

The six-day expo was inaugurated by Minister for Environment, Science and Technology Ganesh Shah. "Telecommunication companies should provide quality service rather than increasing quantity of customers only," Shah said.

"The goverment should reduce VAT on mobiles and ICT products," said MAN president Ram Sharan Pandey. "Even if VAT is reduced, the revenue will increase as there will be more transactions," he said adding that smuggling in of Chinese and Indian sets would also be controlled.

The association aims to develop m-commerce, software of Nepali language and advanced mobile security in the country. Apart from this, the association is also planning to re-utilising e-waste - outdated technologies that have been discarded by high-end users - so that these services can be made available to people in the villages at lower prices.

The expo is supported by by CG Impex Pvt Ltd, Touchstone Infosys Pvt Ltd, Multronics International Pvt Ltd, Mobile Recharge Home, Sunlight International Pvt Ltd, Tiffin Home (Mero recharge centre), NTC tips video goods, E-bazaar electronics, Buddha Solution, Sundhara Telecom PCO, 3G Mobile Store, Mero Mobile (CDMA), Inficare, IMS Tele Trade Pvt Ltd, Palm Infotech, Focusone, Universal Technical Institute, mCash, Spice Mobiles, Nepal Telecom, Samsung and Nepal Investment Bank Ltd.