EIC awards Kamal

KATHMANDU: Everest Insurance Company (EIC) will felicitate on Saturday Kamal Nepali, the boy who rescued two-year old Aradhana Pradhan from a gorge. “The company will also give him Rs 1,01,001,” states a press release. EIC is also awarding Rs 21,001 to Aradhana Pradhan. — HNS

Oil spikes above $141

HONG KONG: Asian stock markets tumbled on Friday amid growing alarm as oil prices spiked above $141 a barrel for the first time and and Wall Street plummeted overnight. The oil price hit a new record, surpassing $140 per barrel for the first time on Thursday. Oil rose to $140.39 a barrel, after Libya’s threat to cut supply. — DPA

India’s inflation rises

NEW DELHI: India’s annual rate of inflation shot up to a 14-year high of 11.42 per cent for the week that ended on June 14 — against the 11.05 per cent the week before — due to higher prices of primary articles. The index for primary articles moved up by 0.2 per cent during the week even as the index of non-food articles declined by 0.5 per cent. Prices of fuels also rose by 0.1 percent, while rice and bran oil became dearer by six per cent each. — HNS

Biman, Boeing deal

DHAKA: Biman Bangladesh Airlines Ltd has sealed a deal with US aircraft giant Boeing Corp for 10 new aircraft — four 777-300ERs (Extended Range), four 787-8 Dreamliners and two 737-800s — at a cost of $2.5 billion. The deal, overseen by the US Department of Commerce, Washington DC and signed at its office, also includes Biman’s purchase rights to six more planes — two 777-300ERs, two 787-8s and two 737-800s. Biman signed a deal with Boeing earlier to buy the 777-300ERs and 787-8s. — HNS