UBB posts profit

KATHMANDU: Udhyam Bikas Bank (UBB) has registered an operating profit of Rs 19.4 million. According to a press release, the total deposit collection of the bank has touched Rs 102.4 million. The development bank is also planning to float shares among the public soon. — HNS

WBNCCI opens

KATHMANDU: The inauguration of West Bengal Nepal Chambers of Commerce and Industry (WBNCCI), located in Kolkata, was done by West Bengal finance minister Dr Asim Dasgupta on Saturday. On the occasion, Dr Dasgupta said, “WBNCCI will play a vital role in developing trade, business, investment, education, health, tourism sector and contribute to friendly relations between West Bengal and Nepal,” Consul general of Nepal Suresh Man Shrestha said that the establishment of the chamber would help in developing various sectors of Nepal. — HNS

ECAN fair

KATHMANDU: Educational Consultancy Association of Nepal (ECAN) with support of Ministry of Education and embassies in Nepal is organising the third ECAN educational Fair 2009. According to a press statement, the fair will be held from August 13 to 16. It will reflect the scenario of foreign studies and scope of international education. The organisers expect 150 foreign studies universities, consultancies and foreign delegates and related institutions to participate directly along with a turnout of over one lakh people. — HNS

Civic body budget

HETAUDA: Hetauda Municipality has made public the income and expenditure statement of the last fiscal year. Executive officer of the municipality Bharat Raj Dhungana made public the income and expenditure statement of Rs 206.37 million in a programme organised on Friday. The municipality said the rate of arrears settlement also went down by 13 per cent in the fiscal year 2065-066 comparatively to the previous year. — RSS

Revenue loss

MYAGDI: Nepal’s border administration office near Koralla point, the border area of Tibet in Mustang, is closed since three years following the lack of staffers. Items like clothes, common consumer goods, durable goods and also livestock worth billions of rupees are imported into Nepal from China via the Koralla customs point every year. According to Lomanthang Area Police Office chief Dev Gurung, the closure of the customs office has been helping Tibetan businessmen evade tax in the export of goods to Nepal. Though there is a quota of 10 employees in the office, all are away from their workstation. Even the district administration office does not know where these office employees are at present. — RSS

Production resumes

TANAHUN: Production at Pancharatna Cement Industry, the sole cement industry of the western region based in Khanikhola of Abukhaireni of Tanahun, resumed on Saturday. The industry was closed for a week following defects in the machine. The factory produces 200 sacks of cement daily. — RSS