NZ trade deficit rises

WELLINGTON: New Zealand’s trade deficit hit a new record in the year to February as imports continued to rise and exports eased. The deficit reached $4.4 billion for the year, while the deficit for February was less, compared with economists’ forecasts. Imports for the year ended February 2006 rose by 7.8 per cent, boosted by higher costs for oil imports and aircraft purchases. — AFP

Japan’s firms cautious

TOKYO: Major Japanese firms have become less confident for the first time in four quarters due to high oil prices and prospects of rising interest rates. The business sentiment index for large companies fell to 6.1 in the three months to March from a record high 10.5 in the previous quarter. — AFP

Manufacturing up

SINGAPORE: Singapore’s manufacturing production rose by 37.3 per cent in February, its strongest pace in at least five years, on strong biomedical and electronics output. That growth rate was far higher than January’s revised 2.4 per cent pace. Manufacturing output grew by 17.4 per cent in the first two months of the year, putting Singapore on track for strong growth. — AP

‘Protect miners’

MANILA: The Philippine government was urged on Monday to improve safety measures for tens of thousands of mining industry workers after the sector was opened up to foreign investors. Some 126,000 Filipino miners are at ‘grave risk, day in and day out’ as they toil in tunnels operated by local and foreign mining firms. — AFP

MS, S Korea dispute

SEOUL: Microsoft Corp filed a lawsuit on Monday challenging a set of punitive measures that South Korea’s antitrust regulators imposed on the US software company for its alleged unfair business practices. The suit has been widely expected as MS has after the ruling hinted. — AP

Rum Pum’s new offer

KATHMANDU: Asian Thai Foods has launched a new scheme ‘Chakkar Rum Pumko.’ Under the new scheme the company would be awarding Rs 50,000 cash prize on every second day. Various coupons that would make customers win from Rs 1 to Rs 5000 have also been kept in the Rum Pum packets, states a press release. — HNS

UTL sells record HHT

KATHMANDU: About 1,000 units of HHT telephone has been sold on the first day of the launch, states a press release of United Telecom Ltd (UTL). United Telecom Ltd has launched the limited mobility service (LMS) for the first time in Nepal. The service is being provided at a cheap rate of Rs 6,999 as an opening special offer. By paying Rs 2,499 at the beginning and rest in 24 equal instalments one can get the service connected, states the press release. — HNS