MBL’s new counter:

KATHMANDU: Machhapuchchhre Bank Ltd (MBL) has opened an extension counter at Thapathali. Surya Bahadur KC, chairman of the MBL inaugurated the counter of the bank that will offer deposit collection and withdrawal facilities. The counter is aimed at serving employees of Nepal Rastra Bank and others, states a press release. MBL has so far 12 branches and soon plan to open a branch in Itahari. As of the mid-June this year, the bank has collected deposit of Rs 9.66 billion and disbursed loans and advances of Rs 7.44 billion. — HNS

Shikhar’s franchise:

KATHMANDU: Shikhar Shoes has opened its ‘exclusive franchise’ showroom at BICC Super Market, New Baneshwor. “The franchise of Shikhar Shoes at New Baneshwor will supply all kinds of shoe products from Shikhar Shoes. This is the first of its kind among its franchises,” said Basu Dev Acharya, sales and marketing director at Shikhar Shoe. Renowned comedian Deepak Raj Giri is the brand ambassador of Shikhar Shoe. The franchise will also confer its customers with its newly launched ‘Shikhar Malamal Offer’ after the grand success of its previous offer ‘Dashain-Tihar bahar jutta kharidma chappal upahar’. — HNS

Irrigation plan:

ILAM: A community-managed-Integrated Agriculture Area Project (IAAP) has been launched in 35 districts of Eastern and Western regions with the loan assistance of Asian Development Bank (ADB) and OPEC Fund. The project is aimed at providing irrigation facilities to around 34 hectares of land in the programme-implemented districts with a view to contributing in poverty alleviation keeping economic growth rate up in rural areas. The project that began from 2006 has been implemented all the districts in the two regions. — RSS

OPEC, US dispute:

VIENNA: The OPEC appeared unruffled on Thursday in the face of possible US legal action against its members on grounds of price manipulation. “We have to wait and see,” OPEC secretary general Abdulla al-Badri said. The proposal would allow the US government to take the members of the OPEC oil producers’ group to court on charges of price fixing. Opponents of the proposed law fear it could prompt OPEC to shut down production. — AFP

Manufacturing up:

BRUSSELS: Manufacturing and service sector activity in the 13-nations sharing the euro is firming faster than expected this month. First results for NTC Research’s service-sector purchasing managers’ index showed an increase to 58.3 points in June, up from 57.3 points and ahead of economists expectations. — AFP