BIZ BRIEFS

Iodised salt popular

KATHMANDU: Salt Trading Corporation Ltd (STCL) has said that the use of iodised salt has increased in the bordering districts of Terai region in recent times. According to a press statement issued by STCL today, as per the research conducted jointly by district administration office, district health offices, Consumers Forum Nepal and STCL, people are using more iodised salt. The research was conducted considering the possibility of smuggling of non-iodised salt from India, says STCL. Similarly, STCL has expedited the ‘campaign’ for using iodised salt, says the statement. — HNS

Japan, India ink treaty

TOKYO: Japan and India signed an agreement on Friday to avoid double taxation, the first revision of their tax treaty since 1989, in a bid to boost slow-growing bilateral trade. Japanese foreign minister Taro Aso and Indian ambassador to Japan Manilal Tripathi signed the revised treaty, which was finalised by finance ministry teams earlier this month. The revised treaty would take effect 30 days after the countries exchange official documents. Double taxation — in which a company or individual pays tax to two jurisdictions — discourages trade because of the extra costs involved.—AFP

Oil prices up to $61

LONDON: Crude oil futures rose back above $61 a barrel on Friday as persistent concerns over Nigerian supply disruptions and Iran’s nuclear program overshadowed US government data showing gains in domestic crude supplies. Light, sweet crude for April delivery rose $1.01 to $61.55 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.—AP