BoC’s IPO is hot cake

SHANGHAI: Bank of China’s (BoC) $9.7 billion IPO, the latest in Beijing’s parade of attractions, has drawn keen interest among stock market investors hoping to buy into China’s rip-roaring growth despite risks. The IPO, the world’s biggest in six years, brings to the international market China’s second largest and its oldest bank, and one that like its peers is still contending with a legacy of lending scandals and bad debts. — AP

ADB to help Indonesia

MANILA: ADB president Haruhiko Kuroda offered assistance to the victims of Saturday’s devastating earthquake in central Java, Indonesia, which has left over 3,000 dead. “On behalf of the ADB, I offer my deepest sympathy and condolences to the people of Indonesia, and to the families of the victims,” Kuroda said. Kuroda said the bank, through its resident mission in Jakarta, was closely monitoring the situation. — AFP

ECB chief bids adeu

FRANKFURT: Otmar Issing’s departure from the executive board of the ECB not only marks the end of an era, but also, to some extent, the coming of age of the eight-year old bank. He has been the ECB’s chief economist since the euro bank’s inception. — AFP

NLIC clears claim

KATHMANDU: Nepal Life Insurance Company Ltd (NLIC) has cleared life insurance claim by Krishna Bahadur Dumrakoti, the husband of late Tulsi Khatri Chhetri, Chitwan’s first martyr of Janandolan-II. According to a press release, Bal Krishna Poudel, secretary of Human Rights Organisation of Nepal, Chitwan on Sunday handed over a cheque of Rs 408,600 to Dumrakoti in Narayangarh. The amount includes life and accident insurance of Rs 400,000 and additional bonus of Rs 8,600. NLIC cleared the claim within a day of claim. — HNS

Petrol pump fined

KATHMANDU: Department of Commerce (DoC) has recommended the Nepal Bureau of Standards and Metrology to take action against Shree Ganesh Oil Store at Nalinchowk in Bhaktapur. An inspection carried out by DoC has found that the store was selling 15ml petrol less per litre and seal at the pump was also found broken. The team had carried out inspection of four pumps on Friday and three on Sunday to ensure smooth and quality supply. — HNS