Govt issues bond

KATHMANDU: The government is issuing Rastriya Bachhat Patra - 2071, a bond worth Rs 500 million from Sunday. It offers 6.5 per cent interest rate that is higher than what the banks are offering at present, according to the Nepal Rastra Bank. — HNS

Lumbini Bank’s AGM

KATHMANDU: Lumbini Bank held its 10th AGM in Narayangarh on Friday. The AGM approved 3:1 rights share issue, apart from its decision to increase its paid up capital. “The bank has recuparated more than Rs 500 million NPA,” states a press release. It has also posted Rs 80.38 million operating profit. — HNS

Nepal SBI posts profit

KATHMANDU: Nepal SBI Bank has registered Rs 250.49 million net profit that is 118 per cent more in comparison to last fiscal year, states a press release. It has also proposed 35 per cent bonus shares and 10 per cent cash dividend that is subject to the central bank’s approval. — HNS

Iraq repays IMF debt

WASHINGTON: High oil prices allowed Iraq to repay its debt to the IMF more than a year early as it prepares to negotiate a fresh loan. Iraq paid back some $471 million in post-war aid approved by the IMF in September 2004, 18 months after the US-led invasion that toppled Saddam Hussein. Iraq’s government had until 2009 to repay. — DPA