BIZ BRIEFS

NIBL in Tripureshwor

KATHMANDU: Nepal Investment Bank Ltd (NIBL) opened its 32 branch in Tripureshwor of Kathmandu district on Sunday. The new branch will provide all modern banking facilities like any other branch such as banking, deposit and credit facilities, retail banking and remittance. NIBL got a net profit of Rs 901 million through collection of deposit equal to Rs 46,698 million and investment of Rs 36,872 million. The bank has plans to establish 50 more branches in the next two years. — HNS

Internal tourists

DHUNCHE: To free themselves of diseases, people from different parts of the country have started thronging Tatopani of Rasuwa district to bathe in hot water in this northern Himalayan region. Every year, people suffering from skin-related and other diseases come to bathe in the Tatopani spring (natural hot water) in Chilime VDC of the district. Tatopani Area Conservation Committee has estimated the arrival of over 30,000 people this year. It is believed that diseases will be cured if patients take bath in hot water here. Visitors’ number is expected to rise this season due to transportation facility from Kathmandu to Thambuchet of Rasuwa. Visitors can reach Tatopani

after a four-hour walk from

Thambuchet. — RSS

Thai Airways chief

BANGKOK: Dr Piyasvasti Amranand has begun his term as president of Thai Airways International with a pledge to ‘bring all his experience and knowledge to bear on the current issues facing THAI, in an effort to continually improve operational performance and the scmpany’s financial position’. He added, “I am under no illusion about the challenges facing aviation today and that includes the challenges facing THAI.” TG’s Board of Directors and senior management have addressed major liquidity issues this year with a turnaround plan that has already shown positive results. Dr Piyasvasti joins Thai Airways having served most recently as chairman of the advisory panel to Kasikornbank Bank’s CEO. He is a graduate from Oxford University in England and was later awarded Masters and PhD degrees from London School of Economics. He also headed Thailand’s National Energy Policy Office that transformed the country’s energy sector in the 1990s and ex-Minister of Energy. — Agencies

Restructuring halts

PARIS: France Telecom, the third-largest phone company in Europe, announced on Tuesday night it had suspended a controversial reorganisation that has been blamed for a spate of staff suicides. The company said the decision had been taken during the course of negotiations with unions. Several hundred compulsory internal transfers — either of role or of location — have already been frozen. All changes other than those deemed absolutely essential would now be put on hold, workers’ representatives said they had been told. The CGT union welcomed “a single measure which must be followed by many others”. The suicides of 25 employees in the last 20 months have been a public relations disaster for the company’s brand name,

Orange, and has become a national controversy. Workers’ representatives blamed a comprehensive restructuring and a bullying management

style for the problems at France

Telecom. — The Guardian