ICAN at IFAC meet

KATHMANDU: For the first time, a delegation of Institute of Chartered Accountants of Nepal (ICAN), led by its president Narayan Bajaj, participated at the meeting of International Federation of Accountants (IFAC) held in New Zealand recently. During the meeting, a decision has been taken among IFAC members to improve the standards of accounting in the developing countries, states a press release. The delegation also visited South Korea to take part at the Asia Pacific meet. — HNS

AFCL, AIC merger

KATHMANDU: Ace Finance Company Ltd (AFCL) held an extraordinary general meeting on Tuesday and merged Ace Investment Co (AIC) and AFCL together. According to a press release, the meeting decided to register AFCL under the new Bank and Financial Institution Ordinance-2062, to raise the authorised capital to Rs 500 million and the issued capital to Rs 320 million. AFCL during the first four months of current fiscal year earned the operating profit of Rs 7 million, while its total deposit stood at Rs 784 million and total lending amounted to Rs 701.2 million. — HNS

Nepal at France-expo

KATHMANDU: A 16-member team of Nepali entrepreneurs is going to showcase the Nepali handicrafts and other exportable goods through ‘Nepal Enterprise: Everest and Everything Else’ from December 1 to 3, in Marseilles, France. The event is organised by Trade Information Promotion System (TIPS) and IT Professional Forum, Nepal, and Asia Invest of European Commission. The Nepali team will be exhibiting handmade paper, natural fibre, handicrafts, herbal and tourism products during the three-day long event. — HNS

Shortage of fertilizer

DHANGADHI: Farmers in Kailali are worried because of the unavailability of chemical fertilisers necessary for their wheat crop on time. Farmers are thronging at Agricultural Inputs Corporation Office daily for the last 15 days hoping to get fertilisers, according to a local farmer. — RSS