BIZ BRIEFS

China’s economy up

SHANGHAI: Growth in China’s roaring economy is expected to continue a pace this year, rising by 10.9 per cent, a government think tank said Wednesday, urging further economic cooling measures. The projected annual growth is slightly higher than 10.7 per cent in 2006, supported by strong consumption and high levels of fixed-asset investment. — AFP

BoE for rate hike

LONDON: Bank of England (BoE) policymakers are set to increase British interest rates to 5.75 per cent, a six-year high, as Britain’s economy grows faster than expected. Economists have forecast borrowing costs to hit six per cent before 2007. — AFP

$155m loan for V’nam

HANOI: The World Bank approved on Wednesday a loan of more than $155 million to fund development of a transport system with a focus on maintaining a sustainable city environment in the capital. — AFP

NSCSEF for close ties

KATHMANDU: Nepal-Sri Lanka Cultural, Social and Economic Forum (NSCSEF) has called for enhancing bilateral ties between the two countries. A team of forum led by its acting president Rajendra Khetan met with visiting Sri Lankan foreign minister Rohith Bogollagama and drew his attention towards issues of mutual interest. The forum pointed out the need to establish direct air links between Kathmandu and Colombo, and discussed about ways to enhance bilateral trade ties. Sri Lankan envoy to Nepal Sumith Nakandala was also present on the occasion. — HNS

Aryal in LIC board

KATHMANDU: Rajendra Aryal, MD of Trikon Advertising, has been elected to the post of board of director of Life Insurance Corporation (Nepal) Ltd representing shareholders in the company, for a four year term. — HNS