Eurozone expansion

WARSAW: Five years after 12 EU members switched to the single European currency, hopes for a rapid expansion of the eurozone have been dashed by delays in eastern Europe and a lack of interest from west European holdouts. In 2002, 304 million European citizens including France, Germany, Ireland and Spain waved goodbye to their francs, marks, punts and pesetas in expectation that they would be joined by millions more by the end of the decade. — AFP

Fed to hold rate steady

WASHINGTON: The Federal Reserve is likely to maintain steady interest rates at its latest policy meeting on Tuesday, but a sputtering US economy may force the central bank to consider rate cuts soon. Most economists expect Federal Open Market Committee to keep its funds rate at 5.25 per cent, where it has stood since the bank halted a run of 17 quarter-point increases in August. — AFP

US, China trade talks

WASHINGTON: A stellar cast of US economic leaders heads to China this week to press for the world’s manufacturing workshop to overhaul the desperately one-sided trade between the two nations. Treasury secretary and Federal Reserve chairman will head the US team for the inaugural meet of a new ‘strategic economic dialogue’ on Thursday and Friday. — AFP

Pension fund dispute

TOKYO: Japan’s gigantic public employee pension fund is studying a plan to invest more in foreign stocks and bonds to increase its returns, a newspaper reported, a move that could boost overseas markets. The three pension funds covering public workers and teachers at private schools had a total of $469 billion in assets at the end of March. — AP

Jadibuti festival ends

KATHMANDU: Gorkha DDC, Prithvi Narayan Municipality, and Gorkha Chambers of Commerce organised a ‘Jadibuti and Oranges Festival’ in Gorkha on Saturday. Participants speaking on the occasion urged to commercialise orange and herbs cultivation in the district. According to a press release issued here by the FNCCI, the festival provided these products a platform. — HNS

Team meets Malakar

KATHMANDU: Presidents and officials of district chambers of Dolpa, Jumla, Humla and Mugu on Sunday met Surendra Bir Malakar president of Nepal Chambers of Commerce (NCC) and apprised him of airlines syndicate problem in Karnali zone. Malakar promised them of necessary assistance, states a press release issued here by NCC. — HNS

Shares distributed

KATHMANDU: Sahayogi Bikas Bank Ltd (Bittiya Sanstha) has distributed its shares, floated some times ago, on Sunday. NIDC capital market was the issue manager, states a press release issued here by Trikon Advertising Service. “The bank has registered Rs 1.4 million profit during the fiscal year 2062-63.” — HNS

Awareness scheme

KATHMANDU: Sitaram Gokul Milks Kathmandu Ltd has recently brought a consumer awareness and promotional scheme ‘Swastha Rahe Smart Bhainchha’. Former Miss Nepal, Usha Khadgi Timilsina is the brand ambassador for this scheme, states a press release issued here. — HNS