BIZ BRIEFS

CNI’s security concern

KATHMANDU: A delegation led by Atma Ram Murarka, acting president of CNI met with Krishna Prasad Sitaula, home minister and discussed industrial security. The delegation also urged for the need to control loots, dacoits and several other incidents, which are discouraging investment, states a press release. — HNS

NBL staff’s demand

KATHMANDU: Employees Association and Nepal Financial Institution Workers’ Association of Nepal Bank Ltd (NBL) forwarded a 43-point demand to the management. They have urged for the cancellation of ‘hire and fire policy’, profits distribution to the employees for their encouragement, more financial facilities and opening of the closed branch offices, states a press release. — HNS

Indian co bags tender

ISLAMABAD: Indian Sugar Exim Corporation Ltd (ISEC) has bagged four Pakistani import tenders for 50,000 tonnes each of white sugar this year. ISEC had quoted $510 per tonne (cost plus freight at Karachi port) — the lowest rate quoted for the seventh tender floated by the Trading Corporation of Pakistan (TCP) in 2006. ISEC bagged four out of TCP’s seven tenders (each of 50,000 tonnes) floated so far this year. — HNS

Kuwait lifts restriction

DHAKA: Kuwait has lifted all restrictions on recruitment of additional Bangladeshi workers, giving a boost to employment opportunities for professionals and workers in the oil-rich Gulf state. The announcement came during an official visit by Bangladeshi premier Khaleda Zia to Kuwait. The restriction on recruitment was withdrawn ‘in honour of’ the current Zia visit, foreign secretary said after the summit level talks. — HNS

Seed shortage hits

ISLAMABAD: Pakistan is facing a shortfall of around two million bales of cottonseed. According to the Cotton Assessment Committee (CAC), only 12.3 million bales of cottonseed reached the ginning factories at the end of the current crop season as against 14.3 million bales last year. The cotton reaching the factories was 0.2 million bales less than the target of 12.5 million bales set by the CAC, constituted by the ministry of agriculture, food and livestock for this year’s crop season. — HNS

Indonesia, China pact

JAKARTA: Indonesia and China have agreed in principle to raise the price of liquefied natural gas (LNG) to be supplied from BP Plc’s Tangguh LNG project in Papua to China. Indonesian energy minister Purnomo Yusgiantoro did not discose the new price but said it should be higher than prices in the local market. A previously signed contract was worth $8.5 billion. — AFP