KATHMANDU: Nabil Bank has contributed Rs 20.1 million to the Prime Minister’s Disaster Relief Fund to support the government’s endeavours to provide relief to the earthquake victims. The bank’s Chairman Shambhu Prasad Poudyal handed over a cheque of Rs 20.1 million to Prime Minister Sushil Koirala at the PM’s residence, as per a press statement issued on Thursday. On the occasion, the bank’s Director Nirvana Chaudhary and Officiating CEO Anil Kumar Khanal were also present. Out of the total, a contribution of Rs 100,000 was made by Nabil Investment Banking Ltd, a subsidiary of Nabil Bank. Apart from the financial assistance from the bank, Nabil Bank staffers have collected funds from their salary to help the victims.
Bajaj Auto’s support
KATHMANDU: Bajaj Auto Ltd, India, one of India’s oldest corporate houses working in a diverse range of businesses, has provided Rs 160 million to India’s Prime Minister’s Relief Fund as a contribution to support the rehabilitation and rebuilding efforts in Nepal after the massive earthquake that shook the entire nation on April 25. The aid will be redirected to the Prime Minister’s Disaster Relief Fund in Nepal, as per a press release issued on Thursday. Bajaj Auto Ltd, India has also contributed a sum of Rs eight million to SEWA, an NGO working for needy and self-employed women workers in Nepal. SEWA is mainly focused at Khokana, a village on outskirts of Lalitpur that has been much affected by the massive quake.
US retail sales up
WASHINGTON: Americans ramped up their spending on autos, building materials and clothing in May, a sign that strong job growth is starting to boost retail sales. Retail sales climbed a seasonally adjusted 1.2 per cent in May, following a 0.2 per cent gain in April, the Commerce Department said on Thursday. Sales have risen 2.7 per cent over past 12 months. The upswing in shopping reflects greater confidence in an economy still shaking off the ravages of a recession that ended six years ago. Employers have added more than three million jobs over past year, but until last month many workers appeared to be saving as much of their paycheques as they could. Consumers upped their spending by more than two per cent last month at auto dealers and building materials stores, evidence they’re making longer-term investments in daily commutes and homes.