Coffee farming rises

GULMI: Farmers in Gulmi have taken to commercial cultivation of coffee after the demand of organic coffee in national and international markets rose high. The annual production of coffee in the district is 40 metric tones while about 15 tons was exported to Japan alone last year, according to district agriculture office. Coffee is cultivated in 75 hectares of land in 50 VDCs in the district. — RSS

Zonal chambers’ meet

KATHMANDU: A zonal meeting of district and municipal chambers of commerce in Narayani zone was held at Kaliya, Bara on Monday. The meeting endorsed various issues including strengthening of chamber secretariat, income generation and FNCCI’s role. It decided to set up a study team to identify industries based on local raw materials, construction of agro-market at Kalaiya and Rautahat and effective use of Birgunj ICD. — HNS

Crude prices increase

SINGAPORE: Crude prices climbed toward $50 a barrel on Wednesday after a refinery glitch in the US rekindled worries about petrol supplies ahead of the start of the American summer driving season. — AP

V’zuelan economy up

CARACAS: Venezuela’s economy grew by 7.9 per cent in the first quarter of 2005, helped by an increase in consumption and government spending. The rate is considerably lower than the growth levels registered during the same period in 2004, which many considered a rebound from a two-year economic contraction. — AP

Japan’s trade surplus

TOKYO: Japan’s trade surplus shrank by 10.4 per cent in April from the same month a year ago, underscoring the weakness of the country’s economic recovery. The fall follows a revised 0.1 per cent increase in March but was less than the average forecast of a 20.1 per cent contraction. — AP