Toyota to bring hybrid

TOKYO: Toyota plans to introduce energy-efficient hybrid technology across its entire lineup and target global sales of one million hybrid vehicles by 2012. Toyota Motor Corp, global leader in the new market for energy-efficient hybrid cars, initially developed its hybrid system for the Prius compact car. Its new luxury-class Lexus GS450h, due out later this year, will also be powered by an electric motor and petrol engine. — AP

US factory orders rise

WASHINGTON: Orders for US-made factory goods went up by 0.2 per cent in February, a figure much higher than analysts expected. Economists had been looking for a drop of 1.3 per cent in factory orders but a surge in aircraft orders was offset by a large decline in petroleum orders. — AFP

Verdict in fraud trial

BRUSSELS: A Belgian court found former top French businessman Didier Pineau-Valencienne guilty of fraud on Friday, but did not convict him due to the time elapsed since the crimes involved. Former Schneider group head Pineau-Valencienne, whose arrest in 1994 triggered diplomatic tensions between France and Belgium, was specifically found guilty over the management of Belgian Schneider subsidiaries. — AFP

Privatisation of BoA

CAIRO: Jockeying is getting underway ahead of the planned privatisation this summer of Egypt’s Bank of Alexandria (BoA), the country’s first large publicly owned lender to go on the block. The sale is part of a government strategy to consolidate and streamline the banking sector, still dominated by state-owned institutions, so as to spur competition and improve profitability. — AFP

MUFJ to go to China

TOKYO: Japan’s Mitsubishi UFJ Financial Group Inc is considering investing $200-$300 million in China Merchants Bank by the end of March 2007, aiming to enter the Chinese retail banking market. The capital infusion would give Mitsubishi UFJ an equity stake of several percent in China Merchants. The major Japanese lender hopes to take advantage of its stake to issue credit cards and sell investment trusts through the bank’s branch network. — AFP

Pakistan shifts focus

ISLAMABAD: Pakistani president Pervez Musharraf has said that the country will shift focus from farming to heavy industry and will collaborate with developed nations in technical education to achieve a quantum jump in exports. Addressing the foundation stone laying ceremony of Tuwariqi Steel Mills, a Pak-Saudi venture, in Karachi, he said the construction of the new mill was in consonance with his government’s vision of shifting the focus of trade from agriculture and textile to heavy industry and engineering. — HNS

Intel comes to India

HYDERABAD: In more good news for Hyderabad, the world’s largest chip manufacturing giant Intel has reportedly decided to become a technology and financial partner in the mega semiconductor fabrication (Fab) unit here. Intel will join hands with NanoTech Silicon India Pvt Ltd , which is setting up a Fab unit near the upcoming international airport. — HNS

Rio gets a new look

KATHMANDU: C G Foods Nepal Pvt Ltd has launched new Rio in international slim pack for the first time. There are no chemicals and is 100 per cent preservative free, states a press release. Available in three different flavours of mango, pineapple and lychee, the new pack is launched with a slogan, ‘ fruit drink with added energy’. It is priced at Rs 16. — HNS

Cosmic Yingang rally

KATHMANDU: RabRen International had organised a promotion rally for its newly launched motorcycle CY125-20 in the capital on April 30, states a press release. Owners of Cosmic Yingang motorcycle and representatives of RabRen International took part in the rally. CY 125-20 was launched a week ago as the optimum bike for the optimum ride. The introductory price is Rs 81, 999 and it is available in four various colours. —HNS

NICCI condemnation

KATHMANDU: Nepal – India Chamber of Commerce and Industry (NICCI) through a press release issued here today has condemned attack on Ramesh Kedia, a prominent industrialist of the country. An unidentified group has attacked the vehicle on which Ramesh Kedia, Dr Bikash Byash and Chandra Mohan Jha were travelling on Friday. — HNS

IAEAN has new team

KATHMANDU: A seven members working committee has been formed under Sita Ram Pant as its president of International Air Express Association of Nepal (IAEAN). Mohan Man Shrestha has been elected as vice-president. — HNS