Farewell to envoy

KATHMANDU: Nepal-Malaysia Chamber of Commerce and Industry (NMCCI) organised a farewell party for the Malaysian envoy to Nepal Mahinder Singh here on Monday. NMCCi also felicitated the envoy, who has completed his three-year tenure, for his contribution in promoting the trade and tourism between the two countries during his stay in Nepal. Chandra Prasad Dhakal, president of the NMCCI urged the envoy to promote Nepalis goods in Malaysia, scrap double taxation system and foster the relation between the entrepreneurs between the two countries. — HNS

Pun resigns, Gurung joins

KATHMANDU: Uttam Bahadur Pun, chairman of Nepal Development Bank (NDB) has resigned from his post. The meeting of Board has approved his resignation on November 8, states a press release. Amar Gurung has been appointed as NDB’s new chairman. In recent days, it has been involved in controversy. — HNS

NIC bank posts profit

KATHMANDU: NIC Bank has posted an increment in its operating profit by 61 per cent to Rs 91 million followed by a growth of 53 per cent in net profit to Rs 52 million in the first quarter of current fiscal year. Similarly, deposits have also increased by 22 per cent to Rs 10,595 million and lending by 31 per cent to Rs 9,476 million, compared to the same period last year. It has also started 365 days banking from its Kamaladi branch. — HNS