Business Brief – June 25,2014



Qatar’s new contest
KATHMANDU: Qatar Airways has announced a contest for all travellers from Nepal, who book tickets to any of its 140 destinations worldwide between June 20 and August 1 for travel up to September 30. They will automatically enter a special draw to win one of five luxurious trips to Miami. The prize includes two business class tickets on Qatar Airways to Miami, five nights’ hotel accommodation for two people at Trump International Beach Resort in Miami, transport facility to and from the airport and a city tour in Miami. Also, new members who enrol into Qatar Airways Privilege Club during the offer period will earn 100 per cent bonus Qmiles in premium class and 50 per cent bonus Qmiles in economy class. — HNS

NKY awards winners
KATHMANDU: Nepal Ko Yuwa (NKY) has announced top five winning entrepreneurs of the Palpa Business Innovation Challenge 2014, namely Bimala Basyal, Durga Bahadur Khand, Min Prasad Neupane, Om Bahadur Saru and Tankanath Ghimire. The top five entrepreneurs are eligible for three levels of awards. In the first stage, each of the five winners will receive Rs 50,000. After four months of thorough evaluation of their work, three of the five winners will receive an additional Rs 150,000 each. In the final level, the top performing entrepreneur will receive an additional Rs 300,000. Top 20 entrepreneurs will receive training support and all five winners will receive training, mentorship and networking to further grow and sustain their enterprises. — HNS

Yahoo ramps up
SAN FRANCISCO: Yahoo on Monday ramped up its move to mobile, grabbing for Android smartphone home screens with an Aviate application tuned to where people are. Yahoo bought Aviate early this year in a deal reported to be valued at about $80 million. The software was subsequently honed with a test group. An English language version of Aviate for handsets powered by Google-backed Android software made its global debut on Monday, to give new prominence to Yahoo on smartphone. — AFP

Yemen eyes project
DUBAI: Yemen has announced plans to build a $3.5 billion highway linking the southern port city of Aden to Saudi Arabia, starting work in the next three months. The World Bank, which is contributing $134 million toward the 441-mile (710-km) road, has said it will help jump-start the struggling economy. — Reuters

VW Wonderful Offer
KATHMANDU: Pooja International Nepal — authorised importer of Volkswagen in Nepal — unveiled the lucky winner of ‘Volkswagen Very Wonderful Offer’ on Tuesday. The offer was announced in September 2013, during the NADA Auto Show 2013. The winners of the lucky draw were Rabin Gurung, who has won the bumper prize which includes Europe tour for seven nights, eight days.
The second prize which was a Panasonic 65-inch 3D TV was won by Naresh Giri and the third prize a Panasonic 50-inch 3D TV was won by Sanjeev Shrestha. — HNS

AI joins Star Alliance
NEW DELHI: Air India (AI) has joined Star Alliance network of global airlines seven years after its first attempt, the Indian government announced on Tuesday, in a major boost for the loss-making state-run carrier. Civil Aviation Minister Ashok Gajapathi Raju said that Air India would increase its revenue by about five per cent by entering the alliance. The deal is expected to be formalised next month. — AFP

Civil Bank bags ‘Innovation Award’
Civil Bank Ltd has bagged the ‘Innovation Award’ from MasterCard. According to a statement issued on Monday, the bank received the award under ‘Debit Card’ category for issuing a MasterCard cobranded product known as the ‘Civil Bank Overdraft Card’. The award was announced during ‘MasterCard Payments Strategy Workshop 2014’ held in Goa of India recently. “We are delighted to receive the award. The Overdraft Card is the result of innovation and continuous effort to tightly knit better-usable new products for the ease and benefit of our customers,” Kishore Maharjan, CEO of the bank, said in the statement. “We endeavor to provide access to banking to Nepali denizens from all strata across the country through support from advanced technology implemented at the Bank.”

Qatar Airways now flies to Tokyo
KATHMANDU (REPUBLICA): Qatar Airways touched down at Tokyo Haneda International Airport for the first time on June 18 marking the airlines’ third destination in Japan and 143rd globally. According to the statement, the inaugural flight also marked the first time that a Qatar Airways Boeing 787 Dreamliner has operated to one of their three destinations in Japan. Qatar Airways has been operating to the Land of the Rising Sun, with routes to Osaka and Tokyo Narita, since 2005 and 2010 respectively.

NIC Asia opens 14 new branches
KATHMANDU (REPUBLICA): NIC Asia Bank has opened 14 branch offices, including four in Kathmandu, across the country. According to the bank, the newly opened branches outside the Valley are in Chandragadhi, Biratchowk, Mirchaiya, Kalaiya, Hetauda, Damauli, Waling, Bhairahawa, Tulsipur and Kohalpur. Likewise, the new branch offices in Kathmandu are located in Balaju, Kapan, Golfutar and Lazimpat. The branches were opened after relocation of 14 branches which were closed during merger between NIC Bank and Bank of Asia in June last year, according to the statement.

JICA launches ´water security´ project
KATHMANDU (REP-UBLICA): Japan International Cooperation Agency (JICA) on Monday launched a project for Hydro-microbiological Approach for Water Security in Kathmandu Valley. The project will develop a diagnostic map and shared conceptual ground of ´water security´ for addressing key water issues, according to a statement issued by JICA on Monday. “It intends to ensure safe water supply and develop locally suited compact water treatment systems by fully utilizing microbial potentials on site for reducing public health risks.” Researchers from Japan and Nepal will collaborate under the scheme of Science and Technology Research Partnership for Sustainable Development (SATREPS), according to the statement.

´India has not received information on Swiss black money´
NEW DELHI (REU-TERS): The Indian government has not received any communication from Switzerland about “black money” suspected to be stashed in Swiss banks, India´s finance minister Arun Jaitley said on Monday. Jaitley´s comments followed media reports that Switzerland has prepared a list of names of Indian account holders who they suspect of not paying taxes. Jaitley said he was writing to the Swiss authorities for more information.

RBI sets timelines for regulatory approvals
MUMBAI (REU-TERS): The Reserve Bank of India (RBI) released timelines for regulatory approvals on Monday and said it will revert to the applicant if the deadline is likely to be exceeded. The RBI announced the timeline as part of one of the recommendations of the government-appointed Financial Sector Legislative Reforms Commission.

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