Cheese production up

JIRI: Entrepreneurs in Jiri of Dolakha have started commercial cheese production. Cheese production was first started here after the establishment of the Cherdung Cheese Centre in 2028 BS under the Dairy Development Corporation (DDC) with the assistance from the Swiss government. The potential for commercial cheese production in Dolakha is high as

the people here rear yaks. There are two DDC cheese production centres, Cherdung and Chankhu and four private centres. They produce 53,000 kgs of cheese annually. — RSS

French economy rises

PARIS: The French economy expanded by 0.7 per cent in the third quarter compared with the previous quarter, official data showed on Friday, confirming a preliminary estimate of growth for the three-month period to September. Statistics office Insee said that French growth for the full year would measure at least 1.4 per cent providing there was no contraction in the final quarter of the year. — AFP

US corporate excess

WASHINGTON: US unions, weakened by public apathy and internal splits, are fighting back with an online database that accuses corporate supremos of lining their own pockets while grinding down their employees. Business leaders are deeply unhappy at the online initiative of the AFL-CIO workers’ federation, accusing union bosses of taking a cheap shot when issues are at stake. — AFP

NZ economic forecast

WELLINGTON: The New Zealand financial system is well-placed to weather a possible slowdown in the economy. But the twice-yearly paper, which assesses the robustness of the New Zealand financial system, also warned the system faces increased risks and may be tested by a sharp adjustment. A counterpart to the developments has been a further widening of the BoP current account deficit, to eight per cent of GDP. — AFP

‘MA must cut costs’

KUALA LUMPUR: Ailing national carrier Malaysia Airlines (MA) must be prepared to cut costs in order to overcome the financial crisis it is facing, former managing director Abdul Aziz Rahman said. — AFP

BoK to give dividend

KATHMANDU: Bank of Kathmandu (BoK) has decided to distribute 14 per cent cash dividend to its shareholders out of the profits from the fiscal year 2061-62. According to a press statement, the bank similarly has earmarked 10 per cent of the profits in adjustment capital fund. For the distribution to its shareholders and adjustment capital fund, 25 per cent dividends has been earmarked. In the past two consecutive years, the bank has been earmarking 10 per cent of the generated profits in capital adjustment fund. According to the bank, it has been able to register Rs 139.5 million as profits which is up by 9.46 per cent compared to the last fiscal year. — HNS