BUSINESS BRIEFS: Qatar Airways announces up to 30%discount
KATHMANDU, Jan 28: Qatar Airways has announced up to 30 percent discount on economy and business class fares to various destinations from Kathmandu. A press statement of the airlines on Monday stated that the offer is available from Kathmandu to destinations like Houston, New York, Washington, Montreal, Buenous Aires, Sao Paulo, Casablanca, Abu Dhabi, Dammam, Dubai, Muscat, Tehran and others.
“Sales period for the special offers is from January 28 to 31,” the statement said, adding that travel period for the offer is till March 31.
Qatar Airways has also announced to launch services to Phnom Penh on February 20, Chengdu on March 19, Chicago on April 10 and Salalah of Oman on May 22.
Mobile Expo records turnover of Rs 80m
KATHMANDU: Samsung Mobile Expo 2013 has recorded total turnover of Rs 80 million till Sunday, Mobile Traders Association of Nepal (MTAN) -- the organizer of the event said in a statement on Monday. Purushottam Basnet, president of MTAN, said the week-long expo has attracted about 170,000 so far. Meanwhile, the association has selected Coupon No. 2589 as the door prize winner for the fifth day of the event. The winner gets Samsung Galaxy S Duos as the prize. The company will provide Galaxy Note II as bumper door prize on the last day of the expo. The expo concludes on Tuesday.
Big Footwear Sale extended for 2 more days
KATHMANDU: The second edition of Big Footwear Sale has been extended for two more days considering the overwhelming response from the customers. Issuing a press statement on Monday, organizers of the expo said the event will now conclude on Thursday. Customers can get different varieties of shoes at prices ranging from Rs 250 to Rs 3,000. Exhibitors are offering up to 75 percent discount. The sale has been jointly organized by Sikhar Shoe, Bf Dear Hill Shoes and Sky Shoes to promote Nepali footwear.
Kshetry seeks favor for LDCs in global trade
KATHMANDU: Vice Chairman of National Planning Commission Deependra Bahadur Kshetry has urged the members of World Trade Organization (WTO) to deliver on the commitments aimed at helping least developed countries (LDCs) meaningfully integrate into global trading system. Addressing the meeting of trade ministers organized in Davos on the sidelines of the World Economic Forum 2013, Kshetry also said LDCs´ issues need to be prioritized mandated by the 8th Ministerial Meeting of the WTO member countries.
Expressing concern over prolonged negotiation of the Doha Development Agenda, he also highlighted some key trade issues of LDGs, including market access, non-tariff barriers, trade distorting subsidies, restrictive rules of origin as well as supply-side constraints. Kshetry also said the upcoming 9th Ministerial Conference to be held in Bali, Indonesia should unequivocally reaffirm commitment to rule-based multilateral trading system.
Hero announces lucky winners
KATHMANDU: Nepal General Marketing (NGM), the authorized distributor of Hero bikes for Nepal, has announced the winners of its scheme called ´Dimag Kharab Offer´ launched on the occasion of New Year 2013. According to a press statement issued on Monday, Tulsi Ram Paudel, Sagar Pandit and Mahanta Raut received cash refund of 100 percent, 75 percent and 50 percent respectively. The lucky winners were selected through a lucky draw, said the statement.
Global IME to raise Rs 4b
KATHMANDU: Global IME Bank is soon floating 4 million units of corporate bonds worth Rs 1,000 each. The debentures, which will mature after seven years, will provide an annual yield of 10 percent, says a statement issued by the bank. If all the bonds are subscribed, the bank will raise a total of Rs 4 billion. The bonds will be listed on Nepal Stock Exchange (Nepse). The bank signed an agreement in this regard with Nepse, the domestic bourse, on Monday. The agreement was signed between Ratna Raj Bajracharya, CEO of Global IME, and Pramod Bhattarai, acting director general of Nepse. The bank has collected Rs 29.37 billion in deposits and extended Rs 23.19 billion in loans till the end of the second quarter of current fiscal year.
Citizens Bank, Batas Associates sign remittance deal
KATHMANDU: Citizens Bank and Batas Associates have signed an agreement to provide remittance services to people through Himal Remit. According to a press release issued on Monday, Citizans Bank will provide remittance services to people from its all 33 different branches all over the country. "Ganesh Raj Pokharel, chief operation officer of Citizens Bank and Shanta Raj Batas, managing director of the Batas Associates signed the agreement," reads the release. Meanwhile, Citizens Bank has started branchless banking service in Pahalwanpur of Kailali and Tankisinbari of Morang.
Reliance shares listed on Nepse
KATHMANDU: Reliance Finance Limited and Nepal Stock Exchange (Nepse) have signed an agreement to list two million ordinary shares of Reliance Finance with face value of Rs 100 on Nepal Stock Exchange. According to a press release issued on Monday, Rs 200 million worth of ordinary shares of Reliance Finance have been listed on Nepse. "The finance company had launched initial public offering (IPO) of 600,000 units of ordinary shares in September 2011," reads the release. Pramod Kumar Bhattarai, general manager of Nepse and Anil Shrestha, CEO of Reliance Finance signed the agreement on behalf of their respective organizations.