HAN team meets PM

KATHMANDU: Hotel Association Nepal (HAN) president Prasiddha Bahadur Pandey on Friday submitted a memorandum to Prime Minister Madhav Kumar Nepal. According to a HAN statement, the association urged the government to grant its full support for the promotion of Nepal Tourism Year 2011. Till date, HAN has made an investment of Rs 150 billion and called for more investments from different tourism entrepreneurs. — HNS

NOC concerned

KATHMANDU: Nepal Oil Corporation (NOC), Nepal National Employees’ Union (NNEU) and NOC Employee Union (NOCEU) have jointly voiced concern regarding the sales and distribution of petro-chemicals by Koshi Petrol Chemicals Pvt Ltd, Hattimudha, Morang. The industry has been categorised a small productive industry and registered with the Department of Industry, is distributing diesel, said a joint statement by NOC, NOCEU and NNEU adding that the distribution was illegal. — HNS

ADBL ready for IPO

KATHMANDU: Agriculture Development Bank Ltd (ADBL) has sought the permission of Securities Board of Nepal (Sebon) for the distribution of its Initial Public Offering (IPO). After the permission, the bank will distribute shares of Rs 960 million, read a press note. The bank has total shares worth Rs 1.80 lakh for its employee and remaining Rs 9.12 million worth shares for general people. Earlier, it distributed rights share of Rs 452.5 million to its shareholders. According to the bank, it will be the first time in the banking history of Nepal that a huge number of primary shares will be floated. — HNS

Workers lend support

KATHMANDU: Employee unions of state-owned banks have expressed their solidarity with the strike of Nepal Bank Ltd (NBL) on Friday. NBL employees have been on strike since June 5 after the management called for compulsory retirement plan. The workers said that on June 4, the management reduced the service period from 33 years to 30 years without the seeking either the opinion or consensus of the employee union before calling for retirement plan. — HNS

JP’s new outlets

KATHMANDU: John Players (JP), premium men’s wear brand from Surya Nepal synonymous with class, bouquet of finest fabrics and playfulness with style, has opened its sixth exclusive branded outlets at City Center Mall (on the first floor) at Kamal Pokhari and a seventh one at Maharajgunj, respectively. — HNS