NEFFA support

KATHMANDU: Nepal Freight Forwarders’ Association (NEFFA) has provided a total of Rs 101,123 collected by its members in the revolving fund set up by FNCCI for the education and employment of the family of those who achieved martyrdom during the people’s movement. Namgyal Lama, NEFFA president handed over a cheque for the amount to FNCCI president Chandi Raj Dhakal on Tuesday. FNCCI has set up a revolving fund worth Rs 500,000 for the education and employment of the family members of martyrs — HNS

PBSL to raise capital

KATHMANDU: Prabhu Bittiya Sanstha Ltd (PBSL) held its special general meeting and decided to raise its authorised capital to Rs 160 million from the existing Rs 100 million. The finance company also plans to raise its paid up capital to Rs 80 million from Rs 50 million. The company promoters will hold a 70 per cent share and the remaining 30 per cent will be issued for public, states a press release issued today. —HNS

Auto imports double

BEIJING: China imported 50,988 vehicles in the first quarter, up 105.5 per cent from a year earlier, state media reported Wednesday, citing customs statistics.The average price of the imported cars was almost $40,000, indicating that China may be importing more high-end vehicles, Xinhua news agency said. The total value of imported vehicles for the first three months was $1.7 billion, up 109 per cent from a year earlier, according to the news agency. —AP

US, India aviation ties

NEW DELHI: The union cabinet of India on Wednesday approved the signing of a pact with the US which will help India acquire and receive technical and managerial support for improving standards in aviation.Principal information officer Deepak Sandhu said, “Approval has been given for the signing of a memorandum of agreement between the two countries.” She said the pact would provide for assistance by the US Federal Aviation Authority (FAA) in developing and modernising civil aviation infrastructure in managerial, operational and technical areas. The US has already signed such agreements with more than 100 countries.— HNS