Myanmar’s exports up

YANGON: State-run Myanmar Oil and Gas Enterprise accounted for more than 40 per cent of the country’s exports for the fiscal year through March. Total trade for the year rose by 43 per cent to a record $7.93 billion despite facing economic sanctions from US and Europe. Overall trade figures were released last month, but Monday’s report broke down companies’ contributions. — AP

US economy on rise

WASHINGTON: The latest economic data point to an acceleration in the US economy after the weakest growth in over four years, but some analysts say a full recovery is not yet in sight. Labour Department report showing a surprise gain of 157,000 jobs in May along with other robust data appeared to validate the view of the Fed that the world’s biggest economy will gather steam over 2007, with strong consumer spending offsetting a slump in housing. — AFP

Trade surplus falls

KUALA LUMPUR: Malaysia’s trade surplus declined in April by 9.4 per cent to 6.0 billion ringgit ($1.76 billion) from 6.63 billion during the same month a year ago. The April figure was also 7.9 per cent lower compared with a revised 6.52 billion ringgit in March. Exports for April rose by 0.9 per cent to 46.12 billion ringgit from 45.71 billion in the same month last year, but were 5.8 per cent lower against 48.99 billion ringgit for March this year. — AFP

S Korean economy

SEOUL: South Korea’s economy will post stronger than expected growth this year and next thanks to brisk exports and increasing consumer spending. Goldman Sachs Economic Research lifted its growth forecasts to 4.8 per cent this year and 5.3 per cent next year, from four per cent and 4.5 per cent. “We have been flagging an upside risk to our forecasts for the last few months as industrial production and export data have been showing stronger than expected momentum,” the research house said. — AFP

Thai economic growth

BANGKOK: The Thai government’s economic think tank on Monday trimmed down the nation’s growth projections for 2007, saying political uncertainty would affect domestic consumption and investment. The National Economic and Social Development Board said the economy could grow in a range of 4.0-4.5 per cent this year, down from its projection of four to five per cent made in March. This is in line with finance ministry and Bank of Thailand. — AFP

Debtors call for bandh

Narayangarh: Normal life has been affected today partially in Chitwan due to the bandh called in the name of ‘Bank Loan Victims’ Committee’. The customers, who are yet to clear their debts in different banks, called for Chitwan bandh saying that they won’t pay interest. The bandh organisers staged a rally in Narayangarh bazaar and chanted slogans. Both short-and-long route vehicles stayed off the road. Passengers were stranded due to the bandh. However, few bicycles, motorcycles and rickshaws were seen plying on the road. Few shops were also opened in Narayangarh bazaar while academic institutions were closed partially. — HNS

LG 5-star rating

KATHMANDU: LG has announced a 5-star rating on its ‘Intellocool’ range of refrigerators. The Intellocool range is equipped with energy efficient technologies that not only keeps food fresh longer but also helps to save electricity, states a press release. With this, LG has become the first refrigerator manufacturer to offer a 5-star rating in the frost-free range, which is possibly the highest rating ever achieved by any refrigerator brand using BEE standards. C G Impex Pvt Ltd, the authorised distributor of LG products in Nepal, will launch the 5-star refrigerators soon in Nepal. — HNS

KBL lists bonus shares

KATHMANDU: Nepal Stock Exchange Ltd has listed 1,250,000 unit of bonus shares of Kumari Bank Ltd (KBL) for trading at the Nepse. The bonus shares were issued from the last year’s profit of the bank. With this listing, the total shares of KBL listed at the Nepse has become 7,500,000, states a bank press release. — HNS

Nepali team in China

KATHMANDU: A business delegation of the Nepal-China Chamber of Commerce and Industry has left for Kunming, China to participate in the 15th China Kunming Import and Export Commodities Fair to be held on June 6-10. Led by Pancharatna Shakya, member of NCCCI, the team has Jem Art International and Marketing International that are putting stalls and sale various handicraft and traditional ornaments at the fair. — HNS