Meat on the hoof

BENI: Some 150,000 goats and sheep have entered Nepal from Tibet Autonomous Region of China for the Dasain-Tihar festival. Compared to last year, this year ten times the number of goats and sheep has been imported by Nepali traders via the Korala transit point. Last year, only 30,000 sheep and goats were brought in via this border transit point as it remained open for only ten days due to the Beijing Olympics. Korala transit point remained open for about a month this year. A goat that cost 300 Yuan in Tibet last year costs 400 Yuan this year. Nepali livestock traders have invested approximately Rs 600 million in purchasing Tibetan sheep and goats for Dashain festival. District Livestock Service Office chief Guru Prasad Khakural said 150,000 goats and sheep entered Nepal through Korala pass. — RSS

UBBL starts operation

KATHMANDU: Deputy governor of Nepal Rastra Bank Bir Bikram Rayamajhi officially inaugurated Udhyam Bikas Bank Ltd (UBBL) in Narayangadh last Friday. UBBL posted a profit Rs 20 million the last fiscal year. The bank offers eight per cent interest in savings and 10.5 per cent interest on fixed deposit accounts along with insurance facility of Rs 1,00,000 and Rs 5,00,000, respectively. — HNS

Sagarmatha’s AGM

KATHMANDU: Sagarmatha Insurance Company has concluded its 12th AGM. According to a press release, the company made an increment of 6.9 per cent in business and except air insurance it gained RS 246.4 premium insurance. The company got Rs 25.5 million total profit, read a press release. — HNS

New cooperative

KATHMANDU: Mukul Savings and Credit Cooperative Ltd, a subsidiary of British Gorkha Group, has started its service in Baluwatar of Kathmandu. The cooperative has a paid-up capital of Rs 150 million and offers various kinds of accounts like children’s education savings, women’s savings, senior citizen savings, Mukul special savings and fixed deposit. It offers 9 per cent to 15 per cent interest on deposit and takes 8 per cent to 18 per cent interest on lending. — HNS

YEA’s 3rd AGM

KATHMANDU: Third AGM of Youth Entrepreneurs’ Alliance (YEA) in Pokhara has concluded. Speaking on the occasion, chief guest and FNCCI president Kush Kumar Joshi said that Nepali youths are capable of competing in the global market. They must take responsibility for the national economy, added. YEA also held a motivation training ‘Saphaltako Mantra’ in the AGM that has the participation of 35 members. — HNS

Co-op’s 10th AGM

KATHMANDU: Jay Mata Bhagawati Savings and Credit Cooperative has held its 10th AGM. According to a press statement, during the fiscal year 2008-09 the company collected a deposit of Rs 182.3 million and made investment of Rs 161.8 million. The company has net savings of Rs 64.33 lakh, states a press release. — HNS

Paddy yield down

DANG: Paddy yield is likely to decrease by 25 per cent this year in Dang district due to late arrival of monsoon rain during the plantation season. Decline in paddy yield has been estimated based on 10 per cent decline attributed to delayed cultivation, 10 per cent decrease due to plantation of matured seedlings and five percent decline owing to other factors. — RSS