NIBL’s 25th branch

KATHMANDU: Nepal Investment Bank Ltd is opening its 25th branch at Hetauda on Monday. It opened its 24th branch in Boudha on January 8. Both branches will provide world class services to the residents and business community of Boudha and Hetauda and surrounding areas, said a press release. Both branches will be linked through ABBS (any branch banking services) to all other 23 branches. Key services include deposit & lending, foreign exchange, retail banking, import, export, letters of credit and guarantees and remittance facility. The bank has installed at an ATM on the Boudha branch premises for customer convenience. Both branches have locker facility. — HNS

HBL turns 16

KATHMANDU: Himalayan Bank Ltd (HBL) completed 16 years of its establishment. The bank registered a deposit of Rs 32.46 billion and loan of Rs 21.42 billion till January 13,

with an operating profit of Rs 598 million, according to a press statement. The bank’s net profit during the fiscal year 2007-08 was Rs 635.9 million. — HNS

New NACCI panel

KATHMANDU: Nepal-Australia Chamber of Commerce and Industry (NACCI) has formed its new working committee. According to a press statement on Sunday, Akhil Kumar Chapagai has been chosen as committee president. — HNS

Fruit farmers glum

BABIYACHAUR: Fruit farmers in Myagdi are worried as the oranges that they had grown rotted in the groves due to the lack of market. There was no market for the oranges produced in Mudi, Takam, and Devistan of the district. Farmer Sukadal Fagami of Takam said though the harvest was bigger this year as compared to last year, most of it rotted in the trees. More than 50 farmers faced this problem and incurred loss of millions of rupees due to lacking of proper storage facility. — RSS

Fresh EU forecast

BRUSSELS: The EU economy faces a new round of bad news on Monday when the European Commission issues new forecasts against the backdrop of a worsening recession and spiraling public deficits. The EU executive arm will shed new light on Europe’s clouded economic outlook with fresh forecasts of just how deep the economy has slumped into recession. In the wake of the new estimates, EU finance ministers will also meet on Monday and Tuesday for talks focused on whether EU governments are doing enough to keep the recession from getting deeper. — AFP