Oil prices drop

SINGAPORE: Oil prices fell on Monday amid relief over release of British sailors detained by Iran, but concerns over the tight US demand-supply balance and other geopolitical issues supported prices. Light, sweet crude for May delivery fell to $63.84 a barrel in midafternoon Asian electronic trading on the New York Mercantile Exchange. Brent crude for May slipped to $67.91 a barrel on London’s ICE Futures Exchange. — AP

Trans-Pacific FTA

SINGAPORE: The US-South Korea FTA could encourage further liberalisation and create an environment conducive to a proposed trans-Pacific free trade area linking Asia and the Americas. While the US-initiated FTA the Asia Pacific (FTAAP) received only lukewarm response during an Asia Pacific summit in Hanoi last year, US officials won agreement to consider it as a long-term prospect. — AFP

EU, S Korea talk IT

SEOUL: A high level delegation of EU Information Society will arrive in Seoul for a three-day long visit to increase cooperation in information technology and science. Vivian Reding, a media commissioner and head of the EU Information Society, during his visit to South Korea will hold talks with country’s Science and Technology Minister Kim Woo-sik, as well as representatives of European and Korean industry. — Xinhua

Thai exports jump

BANGKOK: Thai exports rose by 18 per cent in February from a year earlier, as overseas shipments continued to jump despite the strong Thai currency. Exports topped $11 billion in February following the 17.7 per cent rise in January. — AFP

Dhakal bereaved

KATHMANDU: Laxman Prasad Dhakal, father of Chandi Raj Dhakal, president of FNCCI, has passed away on Monday at the age of 80. Late Dhakal was undergoing treatment at Om Hospital, Kathmandu, according to a FNCCI press release. Born in 1983 in Bhojpur, he was based in Jhapa. He is survived by wife, four sons and five daughters. — HNS

FNCSI gets new team

BHAKTAPUR: The second convention of Federation of National Cottage and Small Industries (FNCSI) has elected Jung Bahadur Shrestha as its president for the next term. The convention has also constituted an eight-member central executive committee with Bishnu Dharimagar as its vice-president, Heman Humangain as secretary and Krishna Khatiwada as treasurer. Babita Nepal, Kalpana Kunwar, Anita Aryal and Kalayani Shrestha were elected members. 225 participants representing 42 districts all over the country took part in the convention. — RSS

Tanahu gets phones

TANAHUN: All 46 VDCs of Tanahu district now have facilities of communications after wireless phones based on CDMA technology have been extended there. “We have been freed of walking hours for a phone call after the CDMA phones are available at the VDC,” Iman Singh Gurung of Mirlung VDC said. With the recommendation of the eight political party representatives, each ward of each VDC has been provided with a CDMA phone line, said Balaram Adhikari, officer at the NT Damauli branch. Moreover, some VDCs including Satiswara and Kyamin have been providing internet facility using the CDMA phone lines. The people of the district have been pleased to use the CDMA phone, which is four times powerful and more effective than mobile phones, said Adhikari. — RSS