Eicher’s franchisee

KATHAMNDU: Eicher Motors, a leading manufacturer of automobiles in India, has named Eastern Motors as its sole distributor for its range of passenger vehicles for Nepal. Eicher Motors manufactures a range of reliable fuel-efficient commercial vehicles with contemporary technology, states a press release. Eastern Motors, a subsidiary of Batas Organisation, with its headquarters at Pokhara, has 11 subsidiaries and is known as a competitive, reliable and organisation with corporate culture. — HNS

Nagarkot tourism

BHAKTAPUR: Oragnised jointly by Bhaktapur Chambers of Commerce and Industry (BCCI) and Nagarkot Naldum Tourism Development Centre, an interaction program was held on Friday to focus on the economic development of Nagarkot. “Tourism is the main driving factor for the economic development of Nagarkot. If only tourism sector in Nagarkot is developed, locals there will get greater job opportunities,” said Bibek Man Karmacharya, president of BCCI. According to a press release, the interaction program focused on solutions to the transportation problem at Nagarkot. — HNS

New Kumari branch

KATHMANDU: Kumari Bank Limited (KBL) on Friday inaugurated its new branch in Baglung district. In the fiscal year 2007-08, the bank collected a deposit of Rs 12.78 billion and granted

a loan of Rs 11.34 million. It earned a gross profit of Rs 351.7 million the same fiscal year. — HNS

New CEDB outlet

KATHMANDU: Clean Energy Development Bank (CEDB) established its second branch at Durbar

Marg. The bank has its head office at Sitapaila. In the fiscal year 2064-065, the total amount deposited was Rs 183 million and loan granted was Rs 150 million. The bank got profit of Rs 139 million. Its first branch was established at Birtamod in Jhapa district. — HNS

ASEAN, India FTA

BANGKOK: Southeast Asian nations will sign a free trade pact with India in December on the sidelines of a regional summit in Bangkok. Talks in Brunei removed the hurdles to the pact, which will liberalise trade in goods between India and the 10-member Association of Southeast Asian Nations, an official at its secretariat told Dow Jones Newswires.— AFP

Thailand poverty less

BANGKOK: The number of people living in extreme poverty fell last year in Thailand, despite sluggish economic growth, a government think tank said on Friday. The number of people living below the poverty line fell to 5.4 million in 2007, down from 6.1 million the year before, the National Economic and Social Development Board (NESDB) said. Families earning less than $43 per month for each person in the household are considered below the poverty line in Thailand. — AFP