SBL’s rights shares

KATHMANDU: Securities Board permitted Siddhartha Bank Ltd (SBL) to issue the rights shares, states a press release. SEBO has passed the ‘Rights share issue regulation’ of the bank before permitting the bank the issue of its 10,00,000 units of rights shares worth Rs 100 per unit. Ace Finance Ltd (Bittiya Sanstha) has been appointed the issue manager, states the SEBO press release. — HNS

Agro insurance starts

NAWALPARASI: Gyanodaya Farmer Multipurpose Cooperative has started an agriculture insurance for the first time in Nepal. Nawalparasi District Committee, District Agriculture Development Office, Ram Nagar VDC and Swathi VDC contributed to create the fund. Ramananda Kurmi, officer at the District Agriculture Development, expressed his confidence that the agriculture insurance programme would help farmers — who are bearing losses because of natural disasters — to get relief. — RSS

US wary of fuel price

WASHINGTON: The US is likely to face several more years of high petrol prices as refining capacity is expected to remain tight in the years ahead, a panel of high-ranking witnesses warned the Senate Energy and Natural Resources Committee on Tuesday. Attempting to probe the causes behind record-high gasoline prices, the committee did not hear any evidence of price-gouging. — AP

Eurozone inflation up

BRUSSELS: Annual inflation in the 13 countries sharing the euro held steady in April at 1.9 per cent despite expectations for a slight decline. The rate was slightly above estimates from Eurostat and private economists for a fall to 1.8 per cent. However, the figure remains in line with the European Central Bank’s preference for an annual inflation rate of less than but close to two per cent to maintain price stability. — AFP