BIZ BRIEFS US interest rate hikedWASHINGTON: The Federal Reserve, keeping a watchful eye on the impact of surging oil prices, raised a key interest rate by another quarter-point. The action pushed the federal funds rate up to 3.25 per cent. It marked the ninth... 01 Jul, 2005
GDP growth target lowered to 2.1pc Himalayan News ServiceKathmandu, June 24: Due to a dramatic fall in growth of non-agriculture sector, the GDP growth has been revised lowering it to 2.1 per cent during the current fiscal year, less than half of the budgetary target of about four per... 24 Jun, 2005
Origins of crisis ‘Two cheers’ for debt plan William KeeganThere are lots of strings attached to the debt relief, which is largely coming out of existing G7 budgets.Last weekend’s agreement on a programme of debt relief for African countries by the finance ministers of the Group of Seven... 16 Jun, 2005
Lanka raises rates Agence France PresseColombo, June 15:Sri Lanka’s Central Bank today raised benchmark interest rates by half a percentage point, the second increase in just over a month, amid deepening political woes for the government. The Central Bank said its... 15 Jun, 2005
BIZ BRIEFS OPEC to raise outputVIENNA: Under pressure to bring down stubbornly high oil prices, OPEC ministers opened a key meeting to try to lower costs and ease the brakes on the global economy. Key members were expected to raise the cartel’s production quota... 15 Jun, 2005
China posts record inflation Agence France PresseBeijing, June 13:China’s consumer inflation hovered at lows not seen for 19 months, removing most of the incentive for the government to raise interest rates, official data show-ed. The consumer price index rose by 1.8 per cent in... 13 Jun, 2005
BIZ BRIEFS NRB governor returnsKATHMANDU: The governor of Nepal Rastra Bank, Bijaynath Bhattarai has returned home after attending the 40th conference of the central bank governors in Southeast Asia that was held from May 31 to June 3 and the 24th annual... 10 Jun, 2005
Development bonds float free Gopal TiwariKathmandu, June 9:Nepal Rastra Bank (NRB) floated primary issue of development bonds worth one billion rupees yesterday through auction which was heavily oversubscribed. The same bonds are to be traded through the stock market in an open... 09 Jun, 2005
BIZ BRIEFS EU rates ‘appropriate’BEIJING: European Central Bank (ECB) president Jean-Claude Trichet said that European interest rates are currently ‘appropriate’ and that any move, either up or down, could lead to higher lending costs. “We, as you know,... 08 Jun, 2005
BIZ BRIEFS Yuan convertibility BEIJING: China will gradually make its currency, the yuan, fully convertible, vice-premier Huang Ju said, “We will relax restrictions on yuan transactions under the capital account in a step-by-step manner in order to achieve... 06 Jun, 2005
Euro future sparks debate among members The GuardianLondon, June 5:When the people of Europe said ‘non’ and ‘nee’ to their new constitution last week, the euro bore the brunt of investors’ anxiety — and some are now beginning to wonder whether it is time to think the unthinkable:... 05 Jun, 2005
ONCE-OVER Maoists seize three buses PHIDIM/DANG: The Maoists on Wednesday seized three passenger buses at two different places. They captured the bus with registration number Me 1 Kha 4146, which was on its way to Phidim from Birtamod, at Ranke bazaar, witnesses... Travel 01 Jun, 2005
