BoK to issue bonds

KATHMANDU:

Bank of Kathmandu (BoK) is going to issue bonds worth Rs 200 million. According to a press release, out of the total Rs 50 million worth bonds (50,000 bonds at a face value of Rs 1000 per bond) has been set-aside for public while the remaining Rs 150 million worth bonds (150,000 bonds at face value of Rs 100 per bond) will be sold under private placement basis. “The maturity period of the bond is seven years and interest rate is fixed at six per cent per annum, which will be paid semi-annually,” stated the release. — HNS

Nabil joins SCT net

KATHMANDU:

Nabil Bank has joined SCT network to provide wide coverage in issuing and acquiring of payment cards system. According to a press release, after the pact, customers of SCT member banks will be able to use their cards at over 50 ATMs and over 800 point of sales throughout Nepal. The cards already issued by other member banks of SCT could also be accepted at Nabil’s PoS and ATMs from the very near future. Likewise, the PoS terminals of Nabil deployed at various outlets can now accept the most popular cards brands visa and master-card cards along with SCT brand cards. — HNS

UFC goes to Pokhara

KATHMANDU:

Union Finance Company Ltd, the first finance company to start lease finance in the country, has opened up its second branch in Pokhara, states a press release. Besides lease finance, the company also provides consumer loans, house loans, hire-purchase loans, and other sort of loans. Surendra Malla, chairman, inaugurated Pokhara branch of Union Finance. The company is in operation for the past 12 years. — HNS

APEC talks oil price

SEOGWIPO:

Pacific Rim finance officials kicked off two days of talks on Thursday focusing on the economic threat of high oil prices, China’s currency system and effovts to reach a new global trade agreement. Finance ministers or their deputies from the 21 member economies of the APEC forum are meeting on South Korea’s southern Jeju Island ahead of APEC’s annual summit meeting mn November. — AP