Page last updated at 2015-01-26 22:16:36 RSS
IFC Partners With NMB Bank To Boost Trade Financing
KATHMANDU, Jan 26: IFC, a member of the World Bank Group, has agreed to provide a $5 million trade finance facility to NMB Bank Ltd under its Global Trade Finance Program.

IFC´s Nepal Resident Representative Valentino S Bagatsing and NMB Bank´s CEO Upendra Poudyal signed an agreement to this effect in the capital on Monday.
NOC's Executive Director Bhatta Removed From Post
KATHMANDU, Jan 26: The meeting of Council of Ministers held on Monday removed Chandika Prasad Bhatta from his post as executive director of Nepal Oil Corporation (NOC).
He has been replaced by Gopal Bahadur Khadka from Department of Roads (DoR).

The government had appointed Khadka to the post on June 5, 2014. He initiated number of reforms works in NOC, notably the introduction of automatic fuel pricing mechanism in September. After the mechanism was adopted, price of petrol and diesel has come down by Rs 23 per liter and Rs 17 per liter, respectively.
Motorola Unveils 3 Smart Phones For Return To China
BEIJING, Jan 26: Motorola, acquired last year by computer maker Lenovo Group, has unveiled three smartphones for its return to China following a two-year absence from the most populous mobile phone market.

Motorola said Monday that buyers of its flagship Moto X model will be able to pick colors, features and exterior materials that include leather and wood. The 16GB version will start at 3,299 yuan ($540).
Sans Transmission Line, Mai Hydropower's Energy Going To Waste
KATHMANDU, Jan 26 : Mai Hydropower Project in Ilam has not been able to generate electricity despite conducting all required tests after completion of construction works in December last year because of the delay in construction of transmission line.

Officials of Sanima Mai Hydropower Limited, which developed the project, said the project of 22-megawatt (MW) installed capacity can generate 8 MW at present. But they don´t know when they will be able to connect energy generated by the project to national grid.
Local Entrepreneurs Take Initiative For New Industrial Estate In Kaski
POKHARA, Jan 25: Local entrepreneurs have taken initiative for establishing an industrial estate in Lekhnath Municipality of Kaski.

They took the initiative for building second industrial estate in the district as Pokhara Industrial Estate does not have the capacity to accommodate new industries. Local industrialists say Lekhnath Municipality could be the alternative as it has plenty of barren unregistered land.
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