ADBN gets chairman

KATHMANDU: Bamdev Chhetri (Ghimire) has been appointed the new chairman of Agriculture Development Bank Nepal (ADBN). The board of directors unanimously selected him, according to a press release. The board has now Bhakti Lamichhane and Hemraj Poudel from the shareholders, Tankamani Sharman from the Finance Ministry, Rajendra Sharma from the Land Reforms Ministry and Laxmidevi Manandhar as an expert. — HNS

NCC holds AGM

KATHMANDU: Nepal Credit and Commerce (NCC) Bank posted Rs 631.5 million net profit before tax and bonus for the fiscal year 2007-08 against a loss of Rs 75.9 million a year before that. It also reduced its NPA to 16 per cent from 31.4 per cent. The bank has collected Rs 7.81 billion this fiscal year. — HNS

Minimum wage

KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged all the industries to apply the minimum labour wage policy according to the decision made on November 1. An FNCCI press statement pointed out that labourers at different industrial areas like Bara, Parsa, Kalaiya, Birgunj and Biratnagar industrial corridor and various international companies are still not following the minimum wage policy. — HNS

NAFFA’s 9th AGM

KATHMANDU: Nepal Freight Forwarders Association (NFFA) held its nineth Annual General Meeting (AGM) on Sunday. According to a press release, the AGM passed the budget for the next fiscal year and also formed an executive committee led by Rameshwor KC as president for the next three years. — HNS

AAN aids flood-hit

KATHMANDU: Advertising Association of Nepal (AAN), in association with Nepal telecom (NT), has collected Rs 13,21,287.21 under its SMS donation drive for the Koshi flood victims. The collected amount will be deposited in the Prime Minister’s Natural Disaster Relief Fund. — HNS

Rice yield drops

GAUSHALA: Mahottari district saw a decrease in rice yield this year due to poor rainfall. According to the district agricultural development office, only 80,500 metric tonnes of rice were produced in 35,000 hectares of land this year. Around 101,800 metric tonnes were produced in 47,200 hectares last year. The yield was low due to poor rainfall and crop blight. — RSS