BUSINESS BRIEFS: Nepal Life generates Rs 3.2b premium income
KATHMANDU, July 31: Nepal Life Insurance earned a premium income of Rs 3.2 billion in the last fiscal year. Of the amount, Rs 1.23 billion was generated through sales of new life insurance policies, says a company statement. "The collection of such a huge amount in one financial year indicates that life insurance business in the country is expanding," says the statement.
This message was given during the 12th annual general meeting of the life insurer held in Birgunj on Monday. The meeting also approved the balance sheet of fiscal year 2010/11.
Birat Laxmi Bank to give away 13% dividend
KATHMANDU: Biratnagar-based Birat Laxmi Development Bank is giving away eight percent bonus share and five percent cash dividend to its shareholders from profit generated in the last fiscal year. The bank, which generated operating profit of Rs 50.3 million in the one year period to July 15, was able to expand its deposit base to Rs 2.65 billion and loan portfolio to Rs 1.80 billion by the end of last fiscal year.
Meanwhile, the bank on Monday started issuing loans against the security of gold. Apart from head office in Biratnagar, the credit can be obtained from branch offices located in Damak, Itahari, Biratchowk, Surunga and Gauradaha, according to a statement.
NCell help for constructing school building
BAGLUNG: Ncell has provided assistance of Rs 860,000 for the construction of a school building in BhimaPokhara-8 of Baglung District. The telcom operator constructed two-room building for Mundridevi Lower Secondary School. The school was teaching students of different class in the same room because of lack of class rooms.
The company constructed the building at the request of Save the Children. “The assistance of Ncell has helped us to teach students in their respective classrooms,” principal of the school Mahendra Thapa said. Ncell has also provided necessary furniture and sport equipment as well.
Thai Airways commemorates 20th year of tragic
KATHMANDU: Thai Airways -- national flag carrier of Thailand -- on Tuesday organized a blood donation program to commemorate the 20th year of tragic accident of 1992. The airlines has also handed over the memorial park situated in Kakani to the local community. “We are providing fund regularly for its maintenance and development as part of our CSR,” the airline said in a statement. Through this park and nearby school, the airline is trying to generate employment opportunities to the locals of Kakani. Thai Airways has been operating in Nepal in 44th year. It operates nine flights a week on Bangkok-Kathmandu-Bangkok sector.
Marcopolo bags GSA of Virgin Atlantic
KATHMANDU: Virgin Atlantic Airways has appointed Marcopolo Travels of President Group of Companies its General Sales Agency (GSA) in Nepal, a statement said. "Marcopolo Travels will initially represent Virgin Atlantic from its office located in Kathmandu and other cities of Nepal effective from August 1, 2012," the statement said.
"We´re very excited about increasing Virgin Atlantic´s presence in Nepal. This appointment will help to capitalize on the growing demand for travel from Nepal to London and USA on Virgin Atlantic´s award winning services using connecting flights from Nepal," the statement quoted Stephan King, general manager of Virgin Atlantic India. Virgin Atlantic operates flight from New Delhi to London and New York and offers connecting flights to Boston, Washington, Miami, Chicago, Dubai and Sydney, among others.