SBI to give dividend

KATHMANDU: Nepal SBI Bank has decided to give five per cent cash dividend to its shareholders. The 13th AGM of the bank held yesterday also approved the annual report for the fiscal year 2005-06. The bank has posted an operating profit of Rs 315.1 million, an increment of 13.39 per cent over the last fiscal, while its net profit jumped by 103.88 per cent. Of the total net profit, Rs 64 million was transferred to the capital adjustment fund, states a release. The meeting also elected Bal Krishna Shrestha and Manoj Kumar Agrawal as board of directors from the public shareholders, states the release. — HNS

KBL’s blood donation

KATHMANDU:Employees of Kumari Bank Ltd (KBL) on Tuesday organised a blood donation programme to commemorate the seventh anniversary of the bank. Altogether 63 staff and clients of the bank donated blood at a programme held at its head office in Putalisadak. According to Reajesh Shrestha, head of the card department, such an event would be a regular feature. On the occasion, KBL also informed that the bank’s deposits increased to Rs 1,200 million with loans and advances at Rs 900 million as on the first eight month of the current fiscal year. — HNS

Glucovita sponsors

KATHMANDU: Glucovita, leading glucose based energy drink, has been associated with NTV-Lions Everest Expedition 2007 led by Lion Sonam Sherpa. “Glucovita is delighted to be associated with this expedition. Expeditions like the NTV- Lions Everest Expedition will not only help increase awareness about mountaineering but also instill a sense of adventure in today’s youth,” Nagender Arya, GM, new business development, Wipro Consumer Care & Lighting said. “Glucovita is a source of instant energy and also has an optimal mix of calcium, vitamin and mineral.” — HNS

EU ends budget row

BRUSSELS: The EU finally reached agreement on Tuesday on how to implement a compromise on its long-term budget thrashed out by EU leaders in December 2005. The compromise saw Britain lose 10.5 billion euros of its jealously-guarded rebate, won by former premier Margaret Thatcher in 1984, which it receives on its payments into bloc’s coffers. — AFP

Indian rupee rises

NEW DELHI: The Indian rupee rose to its highest in nearly eight years against the US dollar on Wednesday, as banks sold dollars to raise funds to meet new central bank requirements to keep more cash on hand. The rupee climbed 42.90 per dollar in intraday trading, breaching the 43 per dollar mark for the first time since June 1999. On Tuesday, the Indian currency closed at 43.07 per dollar. — AP

Industrial output up

MADRID: Spanish industrial production rose by 3.5 per cent in February from the same month a year earlier. Consumer goods output expanded by 3.7 per cent while capital goods production was up by 9.5 per cent on the year. The Spanish economy was one of the strongest in Europe last year, growing by 3.9 per cent. The government estimates it will expand by at least 3.5 per cent in 2007. — AFP