OPEC for ‘status quo’

VIENNA: A majority of the powerful OPEC cartel wants to keep oil production at a near 25-year high at meeting in Vienna on Tuesday because of elevated fuel prices, despite calls from Iran to cut output. Edmund Daukoru, president of the OPEC, reiterated his desire to maintain the production ceiling at 28 million bpd as he arrived in the Austrian capital on Saturday. — AFP

Eurozone prospects

BRUSSELS: Eurozone indicators to be released in the coming week will show prospects in the manufacturing and services sectors brightened further in January, albeit more modestly than at the end of last year. The purchasing managers’ index reports for both sectors are forecast to have edged up following sharp gains. — AFP

Gas supply resumes

VLADIKAVKAZ: Russian gas supplies to Georgia resumed on Sunday, a week after explosions sabotaged the main pipeline between the two countries and dragged their already tense relations to a new low. — AFP

HAN’s new president

KATHMANDU: Prakash Shrestha, first vice-president of Hotel Association Nepal (HAN) is likely to be elected as the president at the 37th AGM on Monday. According to sources, Shrestha is the chairman of Lumbini Bank and is almost sure to secure presidential seat. “He, however, would have tough time to cope with emerging challenges as the hotel sector is under severe threat,” say hoteliers. HAN has 252 members from five-star, four-star, three-star, two-star, one-star, resorts and non-star hotels. — HNS

Electricity generation

PARBAT: Locals in three VDCs of Parbat have benefited from the electricity generated from seven places of Bachha Khola at the South of the district. All the houses in Bachha and Vokshing VDCs and few houses in Pangrang have been electrified after electricity has been generated from five micro-hydropower projects, five-km from the river here under rural electrification development programme. — RSS

India eyes $10b FDI

DAVOS: India will target inflows of $10 billion in foreign direct investment (FDI) in 2006-07, following an anticipated capital flow of $7.5 billion the current fiscal. Participating in a meeting of the WEF here that was also attended by Planning Commission deputy chairman and finance minister, commerce minister Kaman Nath said manufacturing was the main focus for India while attracting foreign investment. — HNS