NIC Bank’s new rate

KATHMANDU: NIC Bank Ltd has increased interest rate on fixed deposit up to 5.25 per cent per annum. The new interest rate, which will be effective from May 14, is one of the highest rates paid in the fixed deposits, states a press release issued here today. — HNS

PCO operators’ meet

KATHMANDU: United Telecom Ltd (UTL) organised a UTL PCO operators’ conference on Friday, with a view to discuss on development of the PCOs in Nepal. About 300 PCO operators took part at the meet, states a press release. — HNS

Oil firms evade tax

CARACAS: Many oil companies operating in Venezuela have failed to pay large amounts of taxes, and the government may charge some companies retroactively, president Hugo Chavez said. — AP

Consumer borrowing

WASHINGTON: Americans increased their borrowing for auto loans and other types of consumer debt at an annual rate of 3.1 per cent in March, the smallest gain in four months. The March increase represented a rise in consumer credit of $5.52 billion. — AP

GM’s future on hold

NEW YORK: The fundamentals at General Motors Corp haven’t changed a bit, but in the course of a few days the market’s attitude toward the world’s largest automaker went from bad to good to who knows what could happen next. Billionaire Kirk Kerkorian announced that he wants to increase his investment in GM. — AP