Agrawal is new CNI VP

KATHMANDU: Confederation of Nepalese Industries (CNI) nominated Jagadish Agrawal as its vice-president. A board meeting of CNI on Thursday decided to nominate Agrawal as its vice-president. Earlier Agrawal was convenor of revenue committee of CNI. — HNS

Postal savings popular

KAPILVASTU: Attraction towards postal savings bank has increased in Kapilbastu district because such account could be opened with a minimum amount of Rs 100. According to the provision, the account could also be opened and operated in the name of the children. There was no considerable attraction of people towards postal savings bank in the past due to the lack of necessary publicity about the facilities though these banks have been operational for more than three decades. A total number of people operating bank accounts in district postal office till October 15 has so far reached 579. The collection of savings is reported to be around Rs 8.37 million till the date. — RSS

US economy totters

WASHINGTON: The US economy has slowed to a snail’s pace, growing in the just-finished quarter at the slowest rate in more than three years and stirring fresh debate about the country’s financial health heading into the elections. The commerce department reported on Friday that economic growth during the July-to-September period clocked in at an annual rate of just 1.6 per cent — a subpar performance that mostly reflected the deepening housing slump. Investment in homebuilding was cut by the largest amount in 15 years. — AP