LFLCL’s 13th AGM

KATHMANDU: The 13th annual general meeting (AGM) of Lumbini Finance and Leasing Co Ltd (LFLCL) has decided to distribute its 33.33 per cent bonus shares. According to a press statement, it notched an increase of 6.23 per cent in its total deposit and 30.23 per cent in loan granted as compared to the fiscal year 2007-08 when it has registered net profit of Rs 62.71 million. — HNS

Laligurans AGM

KATHMANDU: Laligurans Multipurpose Cooperative Ltd announced 15 per cent cash dividends during its ninth AGM held in Lalitpur on Saturday. The cooperative collected 292.1 million and loaned Rs 108 million, an increase by 122 per cent in comparison to the last fiscal year, said a press release. — HNS

Hydel project lock-out

DHADING: Locals padlocked the canal of Thopal Khola-based powerhouse at Salang-7, Dhading, halting the production of electricity. Accusing the powerhouse of not providing compensation as promised during the construction, they resorted to the lockout. They also disrupted the water canal at Nalang-6, Bungchung. Powerhouse manager Dev Prasad Tripathi, said locals’ demands have been addressed to some extent while work is on to address others. — RSS

PMCL’s first AGM

KATHMANDU: The first AGM of Pratistha Multipurpose Cooperatives Ltd (PMCL) informed that it collected a deposit of Rs 12,600,000, loaned Rs 11,100,000 and made a profit of Rs 822,000. At the meeting held with officer of the Agriculture Development Bank Central Office Sheshraman Acharya as chief guest, cooperatives chairman Achyut Prasad Sharma presented the financial report. — RSS

Arabs lose $2.5 trillion

KUWAIT CITY: Arab investors have lost $2.5 trillion from the credit crunch in the past four months, Kuwaiti FM Sheikh Mohammad al-Sabah, whose country hosts an Arab economic summit, said. — AFP