MBL’s ATM at Kalimati

KATHMANDU: Machhapuchchhre Bank Ltd (MBL) has opened its eighth ATM counter at Kalimati in Kathmandu. Surya Bahadur KC, chairman of MBL ,inaugurated the new counter amid a function on Sunday. The bank has also announced a plan of adding five more ATM counters in the Kathmandu valley. “The new ATM counter can be accessed by the physically handicapped people, too,” states a press release by the bank. — HNS

Economy may hurt

PARIS: A recent spurt in Chinese consumer prices has sparked concern that the trend could trigger a world-wide inflationary surge at a time of rising oil and food costs and upward wage pressures. Driven by the food sector, Chinese inflation surpassed the preferred three per cent annual threshold over the past few months and came to 4.4 per cent in June. But according to Nicolas Bouzou of the French research group Asteres, the actual inflation level in the flourishing Chinese economy could be higher. — AFP

Rich-poor gap rises

PATNA: India’s poverty is declining slowly, but inequality between the rich and the poor is on the rise, noted US-based economist Kaushik Basu has warned. Basu, a professor at Cornell University, said globalisation had proved to be a boon for India as its growth was phenomenal. But poverty was declining very slowly and the rate of decrease in the population below the poverty line was also not up to the mark. — HNS

Baht under pressure

BANGKOK: The Thai baht, which was battered by massive flight of capital in the 1997 Asian financial crisis, is again facing mounting pressure — this time from large money inflows into the kingdom. Since early July, the Thai currency has remained at 10-year highs against the dollar with investors pouring money into the stock market, where share prices have gained nearly 30 per cent since the beginning of this year. — AFP