WMBFL bonus

KATHMANDU: World Merchant Banking and Finance Ltd (WMBFL) has announced to grant 20 per cent bonus share and 10 per cent cash dividend to its shareholders, subject to Nepal Rastra Bank (NRB). A bank press said, according to the decision of the sixth Annual General Meeting (AGM) of the board of director the bank has decided to give 1:1 rights share. NMB Bank is the issue manager, said WMBFL. — HNS

Crude less than $73

VIENNA: Price of crude oil produced by Organisation of Petroleum Exporting Countries (OPEC) dropped by $5.57 last Friday as financial markets plunged across the globe, OPEC said on Monday. A barrel of OPEC crude stood at $72.67 that day, down from $78.24 the previous day. — DPA

Meet on global crisis

NEW DELHI: An expert panel under Finance Secretary Arun Ramanathan met here on Monday to find solutions to help India weather the impact of the global financial storm that has sent stocks crashing and industrial growth dipping to the lowest in a decade. Earlier, Finance Minister P Chidambaram said members of the panel would meet at 3.30 pm and that measures to address the situation would be announced “shortly”. — HNS

Apology for bad milk

BEIJING: China’s three leading dairy companies have apologized for their involvement in the melamine-tainted milk crisis, the China Daily newspaper reported. Over 50,000 people, an overwhelming majority of them children, have been affected by toxic milk products in China. Four children died and over 10,000 are currently being treated in hospital, mainly for kidney stones and urinary complications. Executives from Mengniu, Bright Dairy and Yili admitted during the Dialogue talk show on Sunday to “problems and mistakes” made by their respective

companies. — RIA Novosti

India’s hopes of FDI

NEW DELHI: Foreign direct investment in India will top $35 billion this fiscal despite the current global financial turmoil, commerce minister Kamal Nath said here on Monday.

“Liquidity will have some impact on FDI investments but that will be minimal,” he said on the sidelines of the India-Brazil South Africa Business Summit, even while maintaining that the $35 billion foreign investment targeted this year would be achieved. On October 8, the minister had said that the country received FDI worth $2.25 billion and $2.32 billion in July and August, respectively. The total FDI between April and August stood at $14.6 billion. — HNS