Nepali Times
BIZ BRIEF
Rural Access Programme


Nepal's Rural Access Programme (RAP), which aims to reduce rural poverty by building roads in the countryside, has won an award from the International Roads Federation. RAP is funded by the Department for International Development (DFID) and has already completed 607km of roads, connected three district headquarters, and is building a further 365km. RAP will have reached one million more rural people by the time it reaches completion.

Nepal, India sign agreement
President Ram Baran Yadav, who returned from a four-day trip to India on Thursday, met Indian Prime Minister Manmohan Singh at Hyderabad House and signed a Memorandum of Understanding on four bilateral agreements concerning air services, construction of a polytechnic institute in Hetauda, a conference hall, and rail services at five points along the Nepal-India border.

US snubs Nepali garments
The US does not appear receptive to a Nepali proposal for a Trade and Investment Framework Agreement (TIFA) to secure preferential entry for Nepali readymade garments. US officials pointed to Nepal's fluid political situation and lack of preparedness for TIFA negotiations. Exports of Nepali readymade garments to the US have plummeted since the Multi Fabric Agreement was scrapped in 2004.

Dynasty continues
Air Dynasty Heli Services, which has operated in Nepal since 1993, has moved a step up with the arrival of its brand new AS 350B2 helicopter, acquired from Eurocopter South East Asia, Singapore. Dynasty now has a fleet of four helicopters.

?ber stylish
A new interiors store, Casa, has opened in Anamnagar, Kathmandu. The store boasts a collection of personally handpicked interior accessories from all over Asia.

Branching out
Global Bank inaugurated its Dhulawari branch last week to provide services such as business and consumer loans, small and medium loans, Letters of Credit, bank guarantees and remittance services.

Bike away!
Morang Auto Works, the sole authorised dealer of JCB India for Nepal, opened its branch office with 3S facility - sales, service and spares - in Itahari.

Buy a share
Surya Life Insurance is providing a total of 1,080,000 shares worth Rs100 apiece. The shares are available at NMB bank.



LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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