Deal
India's Infrastructure Development Finance Company, along with the Asian Development Bank, DEG-KfW, and the International Finance Corporation signed a Memorandum of Understanding with a private equity group in Nepal, and a consortium of all the leading Nepali banks and financial institutions to jointly incorporate an Infrastructure Development Bank in the country. The IDB will develop and provide a comprehensive range of financial products and services.

Blue blood
To celebrate the first anniversary of Bluebird Mall and the 45th anniversary of Red Cross, Bluebird organised a blood donation campaign. A total of 112 people participated. The Bluebird Mall is opened in September 2006 and has over 50 brands and outlets.

Pokhara's Shangri-la
Shangri-la Bank opened its central office in Pokhara. Established with permission from Nepal Rastra Bank, the central office is located in Pokhara's New Road. Kaski, Baglung, Tanahu, Nawalparasi, Rupandehi, Chitwan, Makwanpur, Parsa, Kabhrepalanchok and Sindhuli are all under its operating network.


Certified
Podrej Steel & Iron Industry (PSII) has become Nepal's first company to be certified with the ISO 9001:2000 for design, manufacture and supply of bank security equipment and office equipment. The certificate was awarded by certification body Det Norske Veritas, Netherlands.

NEW PRODUCTS
Cheesy: Cheese Light is the new offering from Kwality Diet and Food Products. Priced at Rs 10, this biscuit promises high energy, low sugar and low salt. Kwality is also the producer of Butter Cracker, Tasty Tasty, and Bon Bon brand biscuits.

Waxy: Waxco Fuel System Cleaner is newly launched fuel cleaner. When added to a tankful of fuel, Waxco cleans all deposits from fuel injectors, carburettors, ports, valves and combustion chambers.