National Biz Briefs

Tour agency awarded

KATHMANDU: Universal Tours & Travels (P) Ltd, which represents American Airlines Cargo in Nepal, has been awarded the ‘American Airlines Cargo SilverWing 2009’ award and the ‘Outstanding Yield Growth 2009’ prize. These accolades were presented by Dave Brooks, president of American Airlines Cargo to Parasar Prasai, managing director of Universal Tours & Travels at an award ceremony held earlier in March at Fort Worth in Dallas of Texas, USA.

ALICL’s new branch

KATHMANDU: Asian Life Insurance Company Ltd on Monday inaugurated its 20th branch office at Makwanpur, Hetauda. According to a press statement, the company till date has collected insurance premium Rs 842.4 million, posted net profit Rs 53.3 million and distributed shares to 29,708 individuals.

HDBL rights issue

KATHMANDU: Hamro Development Bank Ltd (HDBL) has decided to distribute 1:2.5 rights share to its promoters. According to a press note, it is also planning to establish three branch offices this year. The bank that started its operations last April as a B-Class financial institution has not yet issued primary shares.


KATHMANDU: Nepal Freight

Forwarders’ Association and International Air Express in a joint statement have expressed grief at the demise of former Prime Minister and nepali Congress president Girija Prasad Koirala. Nepal Association of Tour

& Travel Agents (NATTA) also

expressed sadness at his demise.

A special meeting of NATTA’s executive board on Sunday morning mourned Koirala.