New Hyundai dealer

Kathmandu: Avco International Pvt Ltd, the sole distributor of Hyundai vehicles in Nepal, has appointed AM International Pvt Ltd as its new dealer for sales and marketing of Hyundai motors in Kathmandu. AM International, which is the eighth dealer for Hyundai brand of four-wheeler under Avco International, has opened a new showroom at Thapathali with dedicated staff, states a press release issued here today. The showroom is being opened on Sunday on the occasion of New Year. The first 10 customers booking Hyundai vehicles at the new showroom will get attractive gift hampers. —HNS

Economic interaction

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) organised an interaction on the role of district chambers of commerce in economic development at local level and meeting of district-municipal chambers. Inaugurating the programme hosted by Bhaktapur Chamber of Commerce and Industry yesterday, Chandi Raj Dhakal, president of FNCCI, pointed out the need to work jointly with the government and civil society as well as other stakeholders in order to restore peace and stability. —HNS

Nepal-Chile trade ties

KATHMANDU: Nepali businessmen have laid emphasis on efforts at diplomatic as well as people’s levels for the promotion of trade between Nepal and Chile. During an interaction of Nepal Chamber of Commerce (NCC) officials with Gonzale Ibanez, trade and agriculture consular of Chile to Nepal held yesterday, Surendra Bir Malakar, acting president of NCC stressed on the need of exchanging trade representatives and holding trade fairs in both the countries for further strengthening of bilateral trade relations. There is a high possibility for exporting tea, coffee, pashmina, honey, readymade garments and non-timber products from Nepal to Chile, he said. —HNS

Bush for Chinese steel

WASHINGTON: President George W Bush on Friday dismissed a US commission ruling in favour of anti-dumping action against Chinese steel pipe imports, arguing it would do more harm than good for the economy. The United States International Trade Commission (USITC) found in October that Chinese producers were dumping imports of circular welded non-alloy steel pipe on the US market at unfairly cheap prices. In a 232-page ruling, USITC chairman Stephen Koplan recommended that Bush impose an annual quota of 160,000 short tons on the Chinese steel imports for three years.—AFP

Russia, Ukraine row

MOSCOW: The final countdown began on Saturday for Russia’s politically charged threat to end gas supplies to neighbouring Ukraine on New Year’s Day unless the ex-Soviet republic agrees to a more than fourfold increase in prices. Russia’s giant state-owned company Gazprom, which controls a third of the world’s gas reserves, says supplies to the country of 48 million people will be switched off Sunday at 0700 GMTin Moscow.—AFP