KIST holds fifth AGM

KATHMANDU: KIST Merchant Banking and Finance Ltd (Financial instituting) held its fifth AGM on Thursday in the capital. The company states in a press release that it has registered a net profit of Rs 16.5 million during the fiscal year 2062-63. The AGM also approved dividend. The company plans to increase the paid up capital to promote it as a national development bank, states the release. — HNS

New FNCCI members

KATHMANDU: FNCCI has selected Vijaya Kumar Duggar of Hukum Foods Pvt Ltd and Bhawani Rana of a veteran women entrepreneur, in its executive committee, states a press release issued here by FNCCI. — HNS

ADB loan for S Lanka

MANILA: A water supply project for tsunami-devastated Sri Lanka is to get an extra $60 million loan from the ADB after project costs doubled initial estimates. “Without additional loans, the project would be unable to meet its objectives,” ADB urban development specialist Tatiana Lizon said. The package includes a $46.5 million soft loan and a $13.5 million loan at commercial rates. — AFP