Arrears distributed

KATHMANDU: Government secretaries and accounting officers of the constitutional bodies have said that they have given high priority to disposal of arrears of their respective ministries and departments. “Government has the policy of reducing them,” they said, “Arrears amounting to Rs 12 billion and Rs 490 million have been disposed off out of Rs 28.53 billion.” — RSS

RMBFC floats shares

KATHMANDU: Nepal Stock Exchange has approved the Royal Merchant Banking and Finance Company’s (RMBFC) 175,000 units share — worth Rs 100 per unit — issuance. Citizen Investment Trust is appointed as the issuance manager. — HNS

Japan’s trade surplus

TOKYO: Japan’s trade surplus marked its first drop in four years in 2005 as high energy prices pushed up the value of imports. Surplus shrank by 26.5 per cent from a year earlier to $75.8 billion in 2005, reversing growth of 17.3 per cent in 2004. Exports rose by 7.3 per cent as automobile shipments increased by 7.8 per cent. — AFP

S Korea, US FTA talks

SEOUL: South Korea would reduce by half its screen quota for domestically produced films in a move aimed at facilitating free tade talks with the US. US trade representative Rob Portman applauded the decision but angry South Korean film producers denounced it as an ‘anti-cultural coup d’etat.’ South Korea has operated a protectionist screen quota system for decades under which cinemas must show domestic movies. — AFP

Thai bidding for $44b

BANGKOK: Thailand began the bidding process for its $44 billion public works scheme, with more than 1,000 foreign firms vying for a slice of the plan to beef up the economy by improving mass transit. Thai government’s focus is the development of Thailand into a modern, competitive, knowledge-based economy. — AFP