BIZ BRIEFS

MCCI has new team

HETAUDA: Deepak Raj Shrestha has been elected chairman of Makwanpur Chamber of Commerce and Industry (MCCI) in its 39th AGM. Keshav Das Shrestha, Bhuwan Lal Shrestha and Nabin Pudasaini were elected vice-chairmen, while Jiwan Kaji M Shrestha, Surendra Shrestha and Sugam Shrestha were elected general secretary, treasurer and secretary. Arun R Sumargi, Ghanashyam Shanker Sharma, Dhruba Parajuli, Pramod Shrestha, Siddhi Lal Shrestha, Jyoti Ratna Bajracharya, Dharma Kumar Shrestha, Raj Kumar Neupane, Suresh Kuamar Shrestha, Prakash Dhakal, Prachanda Pradhan, Bhagirath Sharma and Ms Sharmila Dangol were elected members. — RSS

IEA revises demand

PARIS: - The International Energy Agency (IEA) issued a slight downward revision to its forecast for growth in global oil demand this year and said January supply levels were ‘healthy’ compared with the same month in 2005. In its monthly report for February, the IEA predicted worldwide demand for oil in 2006 would increase by 1.78 million barrels a day instead of its previous projection of 1.83 million. — AFP

German inflation

WIESBADEN: Inflation in Germany, the eurozone’s biggest economy, remained at 2.1 per cent on a 12-month basis in January as a result of high oil prices. The German CPI slipped by 0.5 per cent in January from the figure for December but was 2.1 per cent higher than it had been in January 2005. The 12-month rate of inflation was the same as in December. — AFP

‘Fed still cautious’

CHICAGO: US interest rates are in a ‘neutral’ range but may have to be hiked further to keep inflation expectations from rising. “My view is that inflation will likely remain contained. But there are risks to the inflation outlook ” Chicago Federal Reserve president said. — AFP