SEBO approves IPO

KATHMANDU:

Securities Board (SEBO) Nepal has approved the initial public offering (IPO) of Prudential Finance Company Ltd, worth Rs 24.50 million. It will issue 245,000 units of ordinary shares with a face value of Rs 100 each under the Securities Transaction Act-2040. NIDC Capital Markets Ltd is the issue and sales manager for the IPO. — HNS

Projects completed

MYAGDI:

Myagdi DDC concluded 113 projects in the district in the fiscal year 20040-05 benefiting around 22,000 households. The cost of the projects — rural electrification, construction of school buildings, drinking water and suspension bridge — is said to be Rs 16.29 million. — RSS

Inflation in US jumps

WASHINGTON:

US consumer prices shot up in July, reflecting higher prices for petrol and other energy products while output at the nations’ factories, mines and utilities slowed sharply. The Federal Reserve reported that industrial production rose just 0.1 per cent, the weakest showing in three months. — AP

US bans V’nam catfish

MONTGOMERY:

Alabama’s agriculture chief has banned the sale of basa catfish imported from Vietnam until tests for an illegal antibiotic are done, the latest salvo in support of the US catfish industry. Alabama’s ban affects about 25 tonnes of imported farmed seafood. — AP

Drain-top robberies

BEIJING:

Rising steel prices, fuelled by China’s surging appetite for the metal, have added new impetus to the regional phenomenon of drain-top thefts and manhole mishaps, forcing municipal authorities to get tough on this highway robbery. — DPA