Thailand reassures FIs

BANGKOK: Thailand’s finance minister tried to reassure international investors about proposed limits on foreign ownership of Thai companies by saying that many sectors of the economy, including telecommunications companies currently operating in the country, would be exempt from regulations. Finance Minister Pridiyathorn Devakula also said authorities would be flexible in applying the planned law.—AP

Azeri gas for Georgia

TBILISI: Georgia was due to start receiving natural gas supplies from Azerbaijan on Wednesday as the small Caucasus mountain nation seeks to reduce its dependence on Russia’s increasingly expensive energy deliveries, the Energy Ministry said. Under the agreement with Baku, Georgia will receive 90 million cubic meters of gas over 90 days — AFP

MBL gets ISO award

KATHMANDU: Machhapuchhre Bank Ltd (MBL) has been awarded with an ISO 9001:2000 certificate by UKAS Quality Management Company. The certification was awarded following a thorough study of services and system being provided by the bank, says a press release issued by MBL today. UKAS has awarded the quality system management certification to all 11 branches of Machhapuchhre Bank Ltd. — HNS

RMBFL’s bonus share

KATHMANDU: Royal Merchant Banking and Finance Ltd (RMBFL) has decided to issue 10 per cent bonus share of paid up capital and distribute cash dividends of 5.79 per cent to its shareholders. The fifth annual general meeting of the company held yesterday approved the proposal for bonus share and annual report for the fiscal year 2005-06. RMBFL earned a net profit of Rs 6.72 million during the fiscal, up by 107.5 per cent against the previous year, states a press release issued today. The paid-up capital of the company has been raised to Rs 50 million from the Rs 30 million last year. — HNS