Business Briefs - Issue #418: Open for business

Open for business
Prime Minister Pushpa Kamal Dahal concluded a reasonably successful visit to India assuring India's business elite that Nepal is open for business. India showed its willingness to engage with Nepal's new rulers, but the government and business will be cautious and would first like to test Dahal on his commitments.

There was an in principle agreement to review the 1950 treaty. India promised to ease fuel supply for three months. Delhi will help facilitate easier movement between Jogbani and Raxaul in Bihar which will come as relief for all those stranded due to the damaged highway in Sunsari.

The water resource secretaries will discuss flood control, irrigation and hydropower. The Indian side is willing to give Nepal a role in maintenance and repair of the Kosi embankment in principle, but it will require work at the technical level. The Prime Minister made big promises about "mega projects". The commerce secretaries will look at how to overhaul the trade relationship.

The Indians humoured him but let it be known that they expect him to act on issues spanning from industrial security of Indian companies to hydropower.
Prashant Jha in New Delhi

Dasain ayo
LG has introduced a new scheme for the Dasain season, 'LG Battis ko Babal,' which gives customers the chance to win a gold coin, a silver biscuit or an LG watch, along with a coupon which entitles them to win a 32-inch LG LCD tv through a live draw every fortnight on Image Channel's 'Music Of Your Choice' program.

Jumbo savings
Himalayan Bank is offering new savings accounts. The Bishes savings account has a reduced minimum balance of Rs 2,000. There is also a three-year fixed tenure savings account and the Jumbo fixed deposit account with interest rates of up to seven per cent per annum. The services are available at all Himalayan Bank branches.

Hot wheels
The third Himalayan Times Wheels Auto Show will take place on 19-20 September from 10AM-6PM at Bhrikuti Mandap. On the opening day there will be a treasure hunt with a Rs 10,000 first prize. Entry costs Rs 200.

Winning scratch
Customers buying Dearhill Shoes during the Dasain season will receive scratch cards offering the chance to win prizes of Rs 50 to Rs 50,000 and discounts of five to 50 per cent, as well as the chance to win various electronic goods including an LCD tv. Customers can also send in photos of themselves wearing Dearhill shoes to be entered in a competition to win a motorcycle and become a brand ambassador for the shoes.

NEW PRODUCTS

WHISKY: Himalayan Distillery has introduced 180ml bottles of 12-year-old Spey Livet Premium Rare Whisky, imported from Scotland. The brand is already available in 750ml bottles.

WINE: Akhil trading is now distributing wine from Angove's, one of Australia's longest established wineries. This is the first time that Angove's Red Belly Black label has been available in Nepal. The wine is available in both screw-top and cork-sealed versions in more than 250 outlets.