Life retail store opens

KATHMANDU: Ashok Group, the manufacturer of Puja washing soap, has ventured into retail marketing of branded apparels and garments. The group opened its first retail store - Life, at the UWTC. According to Sajib Bhattarai, brand manager at the Mahashakti Soap & Chemical Industries, the company plans to build up ‘Life’ as a retail chain offering branded apparels, shoes, purses, watch, bags and perfumes at a single store. All leading brands like Addidas, Reebok, Nike, Puma, Baleno and S&K are available in the store at company price, said Adhikari. It plans to open such retail stores at major trading hub in Kathmandu and outside the valley. — HNS

Gold price decreases

KATHMANDU: Gold price in the local bullion market has dropped this week due to a strong position of the US dollars against the major currencies. Price of the precious yellow metal dropped by Rs 260 per 10 gram from Rs 14,960 on Sunday to Rs 14,700 on Friday. According to Nepal Gold and Silver Dealers’ Association, the price dropped in the international market following the European Central Bank’s auction of a huge amount of gold. The price of silver also dropped to Rs 312 per 10 gram from Rs 315 on last Sunday. — HNS

Oil missing in Iraq

WASHINGTON: Up to 300,000 barrels-a-day of Iraq’s declared oil production has gone missing in Iraq over four years and is not accounted for. The missing oil ranges from 100,000 to 300,000 barrels-a-day out of the estimated two million barrels pumped in Iraq every day. — DPA

Kia under threat

SEOUL: Kia Motors, South Korea’s second-largest automaker, said it plans to beef up security in response to an alleged leak of production technology to China. Kia Motors Corp views any threats to its brand and technology as a serious matter. — AP