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• RNA Gheraoes Maoists • Vajpayee-Musharraf ... - Digital Himalaya

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NEWSNOTES<br />

remote mountain villages of central Nepal<br />

by the Maoist rebels. In a Stalemelll issued<br />

Tuesday. the comm ission termed the Maoist<br />

attacks as 19ross violation of human rights."<br />

Saying that there has been violation of<br />

human rights from the government as well<br />

as rebels. the comm ission has urged both<br />

sides to maintain restraint from committing<br />

fUl1her human ri ghts violations. In a<br />

separate statement. the King Mahendra<br />

Trust for Nature C.onservation (KMTNC)<br />

has condemned the recent unprovoked attacks<br />

by a group of amled youths calling<br />

themselves <strong>Maoists</strong> on the Annapurna<br />

Conservation Area Project (ACAP). The<br />

Trust condem'led attacks on its offices at<br />

alekharkaand Pokhara in western Nepal<br />

early this month and expressed hope that<br />

environmental institutions like it worki ng<br />

for the people would not be subjected to<br />

unnccessal)' harassment in the days tocome.<br />

King Gyanendra heads the Trust, internationally<br />

acclaimed for its conservation activities.<br />

Compiled/rom reports.<br />

Earthquake Hits<br />

The Country<br />

A powerful earthquake measuring5.9<br />

on the Richter scale hit the western and<br />

central parts ofthecoumry Monday night.<br />

The tremor was epiccnlered near the district<br />

headquarters of Gorkha in Western<br />

Nepal and lasted for 10-12 seconds, ac­<br />

'()rding to the Department of Mines and<br />

ology. Details of damage to life and<br />

properly were not avai lable imnwdiately.<br />

Kathmandu residents felt the jolts at 9:57<br />

p. m. Monday. CompiledJrom reporls.<br />

Nepal Grindlays Renamed<br />

As Standard Chartered<br />

Nepal Grindlays Bank Ltd. a joint<br />

ven ture that began its operations in January<br />

1987, has been renamed as Standard<br />

Chartered Bank Nepal Ltd. from Monday<br />

(July 16). According to a press release<br />

issued by the bank. the change in name<br />

has been brought forth by tbe acquisilion<br />

of ANZ Grindlays Bank LLd. from the<br />

Australia and New Zealand Banking<br />

Group P.L.c. from July 3 1, 2000. With<br />

thi s acquisition, achange has been brought<br />

in the ownership of the share of Nepal<br />

Grindlays Bank Ltd. 50 percent shares of<br />

Nepal Gri ndlays Bank LLd. , previ ously<br />

owned by ANZGrindlays are now owned<br />

by Standard Chartered Grindlays Bank.<br />

Nepal Bank Limited holds 33 percent of<br />

the remaining shares, while the rest 17 per<br />

cen t shares are commanded by the general<br />

public. Standard Chartered is the world's<br />

leadi ng emerging markets bank with 570<br />

offices across more than 50 countries primarily<br />

in Asia, the sub- continem, the<br />

Middle East. Africa and Latin America,<br />

the bank said. CompiledJrom reporls.<br />

FNCCI Welcomes<br />

The Budget<br />

The Federation of Nepalese Chambers<br />

of Commerce and Industries (FNCCT)<br />

has welcomed the budget forthe next liscal<br />

year2001-02 presented by Finance Minister<br />

Dr. Ram Sharan<br />

Mahat in the parliament<br />

Monday. In a<br />

statement, the apex<br />

Chamber said the<br />

budget has made attempts<br />

La gear the<br />

economy toward the<br />

right direction by<br />

boosting investment<br />

thro ugh measures<br />

such as rehabilitation<br />

of sick industries. decrease<br />

in the interest<br />

rate on loans in specified<br />

fields, preference<br />

to the domestic products<br />

in government<br />

purchases and reduction<br />

in the duty on<br />

import or certain capital<br />

goods. Tt has also<br />

taken thc budgetary<br />

provision of authorizing<br />

the director general<br />

at the Department<br />

oflnduslry to approve<br />

foreign investment up<br />

to Rs lOO billion as a<br />

positi ve de ve lopment.<br />

Saying that<br />

Dr, Mabat<br />

as transparency is bound to decrease, the<br />

FNCCI has said the exemption on income<br />

tax for a person and a family is inadequate.<br />

Leading dailies reporl.<br />

<strong>•</strong><br />

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5

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