China raises oil prices

BEIJING: China is raising the prices for refined oil products beginning from Sunday, the country’s top economic planning agency said, a move that would help offset losses by the country’s refineries. The National Development and Reform Council said factory prices of petrol will increase by $37 per tonne, and diesel factory prices will rise by $25 per tonne. — AP

Fed set to hike rates

WASHINGTON: The Federal Reserve is expected to stage the 15th successive hike to US interest rates this week when it holds its first meeting under new chairman Ben Bernanke. But after a spate of patchy numbers, the outlook for monetary policy in the world’s biggest economy has grown much murkier beyond the US central bank’s two-day long meeting ending on Tuesday. — AFP

Protest against FTA

KUALA LUMPUR: Malaysian activists over the weekend launched a campaign against a planned bilateral free trade deal with the US, saying it could undermine job and food security and the nation’s economy. Worried by FTAs the US has completed or is negotiating with nations such as neighbouring Thailand, activists demanded Malaysia justify the benefits of any deal. — AFP

Eurozone inflation

PARIS: Eurozone indicators to be released in the coming week will show inflation easing in March as the effects of last year’s surge in oil prices wane, while business confidence is expected to consolidate after recent strong gains. In a heavy week for economic data, the survey stands out as the key indicator, with economists expecting the business climate index to ease slightly from the 14-year high reached last month. — AFP

Yamaha’s new offer

KATHMANDU: Morang Auto Works (MAW) Pvt Ltd, the authorised dealer of Yamaha Motorcycles for Nepal has launched a new scheme, which would take a lucky winner to Germany to watch the FIFA World Cup. Customers purchasing a new Yamaha G5 motorcycle on or before May 14 will be eligible for the scheme. “One lucky winner would be selected to go to Germany to watch the World Cup live, states a release, “The new scheme aims to create an association between the brand and football and also between football enthusiasts and footballers of Nepal.” — HNS

CNI meets minister

KATHMANDU: A delegation of Confederation of Nepalese Industries (CNI) led by its president Binod Chaudhary met with Buddhi Man Tamang, minister for industries commerce and supply and discussed the burning issues of business sector. A press release issued by CNI states that the delegation discussed the issues like certificate of origin, renewal of transit treaty, and extra tax imposed by India on Nepali exports. Problems of sick industries and load shedding were also discussed on the occasion. — HNS

NBI holds first AGM

KATHMANDU: The first annual general meeting (AGM) of National Business Initiative (NBI) was held on Friday. The AGM amended some of the clauses of its statute. It was held under the presidency of Padma Jyoti, member of the ad-hoc committee. — HNS