FNCCI, NCC hail polls

KATHMANDU: April 10 will go down Nepal’s history as the memorable day, stated a press releases issued here today by FNCCI and NCC. “The Constituent Assembly elections

were held successfully that will pave the way for new Nepal,” they said. They hoped that the newly elected CA would protect the fundamental rights of all sectors in the new and

prosperous Nepal where everyone can work freely.— HNS

Cement export ban

NEW DELHI: A day after Indian government’s announcement of a ban on cement export to arrest prices, commerce and industry minister Kamal Nath said on Saturday that it is not applicable to SEZs. “India has put a ban on cement exports. However, this will not apply to the SEZs,” he said. The cement export ban was notified by the directorate general of Foreign Trade and it was not clear whether it included SEZs, too. On the skyrocketing prices of food

items and essential commodities, the minister said the government is considering several other options to address the issue. — HNS

IMF warns of inflation

WASHINGTON: As India’s finance minister P Chidambaram arrived here, the IMF said that inflation is becoming a big issue in India as its economy is cooling with lower investment bringing down growth to just a little below eight per cent. While the exposure of Asian financial institutions to structured products and the sub-prime market in particular, is low, the region has not been immune to the turbulence in global financial markets. — HNS

Hold emergency meet

MANILA: Leaders of the Association of South-East Asian Nations (ASEAN) must hold an emergency summit to address the looming food shortages in the region. Senator Mar Roxas

said the 10-member grouping must come up with concerted efforts to address the issue of shortages in staple food and runaway prices of basic commodities. — DPA