Micromax launches Canvas Nitro A310 in Nepal

KATHMANDU: Micromax Informatics Ltd, the country’s leading handset player, has announced the launch of Canvas Nitro A310 in Nepal. 

Delivering a combination of great aesthetics and superior features, the Canvas Nitro is power packed with a 1.7GHz Truocta-core processor promising seamless multi-tasking and an improved application performance.

Equipped with a five-inch HD IPS display, it offers a dynamic contrast and colour vibrancy with an immersive graphic quality.

Running on latest Android 4.4 KitKat, users get access to a number of features, including voice search, Google Drive, Hangouts for video calls, among others.

Available in Mystic Blue colour with a premium leather finish back, Canvas Nitro comes with innovative software features like QuickLook, Smart Alerts, all-in-one camera widget and customised gestures. 

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Public transport fare to increase by 5.63%

KATHMANDU: The government is hiking up the public transport fare by 5.63 per cent from November 1, against the instruction of the Commission for the Investigation of Abuse of Authority (CIAA) to fix the rates based on practice in South Asian region.

The Department of Transport Management has decided to increase the fare despite recent reduction in oil prices citing that the decision to review the transport fees was taken before the fuel price was reviewed.

According to the department officials, the Ministry of Physical Infrastructure and Transport had given them a go-ahead to raise the transport fare two months ago and the department took a decision last Monday to finally implement the decision.

With the new rate, commuters will have to pay Rs 16, up from Rs 15, for a ride on short routes, while cab charge has been fixed at Rs 40 per kilometre. The department officials said that while the flag down rate in the taxis will remain constant at Rs 14, the cab fare has been increased by 6.58 per cent. Currently, the cab fare per kilometre is Rs 37.

“The fare of cargo carriers has gone up by 5.27 per cent in hilly routes and 5.21 per cent in Tarai routes,” said Mohan Bhattarai, mechanical engineer at the department. He added they were supposed to adjust the fares before Dashain, however, the plan had been postponed so as not to inconvenience festive movements.

The increment in cargo carriers’ fare means transporters will be permitted to charge Rs 10.63 per kilometre per tonne in hilly route — Narayanghat-Pokhara-Kathmandu and Rs 5.30 per kilometre per tonnes in Tarai. Department officials said that change in fare is in line with annual review of transport fare based on multiple components, like prices of spare parts, fuel, bank interest rate and inflation rate.

However, the decision to raise fares is against the instruction issued by the CIAA in 2010.

Sources said that the department was forced to increase the fares four years ago without carrying out the study as suggested by the anti-graft body, as the Ministry of Finance had failed to provide the budget for it. “After that, the CIAA has not shown any interest in the issue and the department is adjusting the fare as per its own set mechanism,” said the sources.

The department revises fares ‘scientifically’ by taking into consideration the changes in fuel prices and non-fuel components like bank interest rate, inflation, vehicle price, cost of spare parts and lubricants, and staff salary. 

Source: The Himalayan Times

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Ford Figo Launches models in new refreshing look

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Ford Figo launches models in new refreshing look

KATHMANDU: Adding excitement and colour to the festive season, Ford has introduced Ford Figo in a refreshing new look with enhanced exteriors and bright new interiors.

The festive look of Ford Figo will win customers over with its smoky stealth finish exterior styling elements including 14” alloy wheels, fog lamp bezels and rear bumper valance. The exterior styling of the popular and dependable Figo has been further enhanced with a sleek-looking chrome signature fender badge and turn indicators on power mirrors to add to its premium appeal.

Making it just as stylish as it is smart, the interiors of the refreshed Ford Figo has a vibrant appeal with special cyber blue trim reflected on the dual-toned seat fabrics, centre stack and door pull handles in kinetic blue titanium. Enhanced styling cues across the rest of the product range consist of new dual-toned seat fabrics in cyber blue along with two-layer satin aluminium finish centre stack, inner door handles and door pull caps.

The refreshed Ford Figo is available in eight attractive colours — kinetic blue, mars red, diamond white, moondust silver, chill metallic, panther black, smoke grey and paprika red. 


Source: The Himalayan Times

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Micromax launches X081‚ X082 models in Nepal

KATHMANDU: Micromax, an international brand of cellphones that has established itself as the frontrunner in the arena of mobile phone sales in Nepal, has added two new models — Micromax X081 and Micromax X082 — to its vast array of mobile phones in Nepal. 

The all new Micromax X081 prides itself on its rejuvenation of the wireless FM feature along with better and diverse multimedia functions than any other brand in its league. Also, the GPRS in the new Micromax X081 lets the user be in touch with the world at all times. Adding to this, it also sports a digital camera. The phone also has Micromax’s signature M! Zone, through which users can play games, use multimedia, and so forth. Adding to its stupendous array of features, it also has Bluetooth for transferring any files or pictures and it also has dual SIM support, making it an ideal phone for both personal and business purposes. The new Micromax X081 supports a micro SD memory card. And to maintain all these amazing features, it has a powerful 1750 mAh battery. 

Meanwhile, the all new Micromax X082 offers wireless FM and breathtaking multimedia features to keep you on your toes. Furthermore, the GPRS and Bluetooth lets you connect with your loved ones and share any files or pictures with them. The digital camera in the new handset lets users capture amazing moments anytime, anywhere. The dual SIM function and micro SD memory card add on to its long list of features, along with the signature M! Zone. It also has a 900 mAh battery. 

Source: Himalayan Times

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The New LAVA Iris X5 Launched in Nepal

KATHMANDU: CG Impex — the sole authorised distributor for Lava mobile phones in Nepal — recently launched Lava Iris X5, as the successor of its hugely popular Iris X1. 

The smartphone is a perfect combination of superlative camera performance and graceful design. It is especially designed to meet the needs of the ‘selfie’ generation. Running on Android 4.4 KitKat, the Lava Iris X5 with its brilliant features and design is a real treat at a price of Rs 17,999.

The Lava Iris X5 has a 5.0 MP BSI + auto focus front shooter with LED flash for low-light imaging that enables clicking perfect selfies with extraordinary detailing at any given time of the day. It comes laden with a wide-viewing angle shot which allows users to capture pictures of up to 84 degrees with the front camera. In addition, the phone has an 8.0 MP auto focus rear camera with exceptional imaging quality, making Lava Iris X5 a must have for all shutterbugs.

The smartphone offers a great viewing experience with its five-inch HD (1280X720) IPS full lamination LCM rich display that produces sharp images. The in-plane switching (IPS) etched in the phone enhances colour reproduction resulting in a bright display.

The Iris X5 is powered by 1.2 GHz Quad Core and 1GB RAM that promises seamless application performance and multitasking, supported by a 2100 mAh battery providing ample back up for multimedia playback, talk-time and stand-by. With an OGS 5-point touch, the phone offers a smooth touch experience. Additionally with a width of 71.5mm and thickness of 7.7mm, it is easy to handle.

The device comes with 8GB of internal memory that is expandable up to 32GB via micro-SD card. On the connectivity front, the dual SIM Iris X5 is facilitated with 3G connectivity apart from wi-fi, bluetooth v3.0 and micro- USB v2.0. It offers OTG support to enable file transfer through USB drive on the move. The device has a dual MIC for active noise cancellation that promises a crystal clear calling experience.

The handset is available for sale across all national retail stores and multi-brand outlets across the country.

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Century Commercial Bank starts distributing IPO allotment slips, refunds from 9th March

A day after allotting the Initial Public Offering (IPO) worth Rs 92 crore, Century Commercial Bank Limited has stated that it will start distributing allotment slips and refund the non-allottees from March 9 i.e. coming Sunday.

The IPO was allotted yesterday at the head office of the commercial bank in Kathmandu at 7.90percent to retail investors who had applied up to Rs 50,000 and 3.09 percent to big investors.

However, those who had applied for up to Rs 12,000 had fallen under lottery.

The bank has stated that the allotment advices and the refund can be collected from the respective centers where the applicants had filed their IPO application firms.

Century’s IPO was oversubscribed by 24.48 times.

The IPO, which was issued from January 9, had closed on January 13.

Century’s IPO was one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.
The offering was also special in that it was the largest IPO to be issued by any private bank in the country, second only to primary shares worth Rs 96 crore floated by Agriculture Development Bank Limited.

ICRA Nepal had assigned an ‘[ICRANP] IPO Grade 4+’ to Century Bank’s IPO, which is not at all bad by any standards.

Following the IPO, the commercial bank’s paid-up capital of Rs 1.08 billion has now risen to Rs two billion, as per the regulatory requirement.

It may be noted that there was a huge response to the IPOs issued by three commercial banks — Civil Bank, Commerz and Trust Bank Nepal and Mega Bank—had issued their IPO over the last one year.

Civil Bank’s IPO was oversubscribed by seven times, Commerz and Trust’s IPO was oversubscribed by 11 times and Mega Bank’s IPO was oversubscribed by 22 times.

Source: sharesansar, 5th March 2014
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Civil Bank, Civil Merchant and Axis bank merged

Endorsing the final deal on the merger through their special Annual General Meetings held yesterday, Civil Bank Limited, Civil Merchant Bittiya Sanstha and Axis Development Bank Limited have decided to name the merged entity as ‘Civil Bank Limited’.

The separately held special AGMs also gave the final nod to the swap ratio of 1:0.79 for the commercial and the other two BFIs following DDA Report prepared by BRS Neupane and Company.

They have also decided to retain the Board of Directors and senior officials of all three BFIs. It may be noted here that they decided to retain these officials as Civil Bank and Civil Merchant have common promoters.

Following the decision, the incumbent Chief Executive Officer of Civil Bank Kishore Maharjan has been retained as the CEO of the merged entity.

With the merger the bank will now have 49 branches and 25 ATM counters.

Notbaly Nepal Stock Exchange Limited (NEPSE) has suspended the trading of shares of all three BFIs in the merger process in October.

Civil Bank and Civil Merchant Bittiya Sanstha are owned by the Civil Group while Axis Development Bank was formed following the merger of Pashupati Development Bank and Udyam Development Bank.

Civil Bank has a paid-up capital of Rs 2 arba, reserve and surplus of Rs 15.3 crore. It had posted a net profit of Rs 12.12 crore in the last fiscal year, and its EPS stands at 7.56 and has a net worth 107.65.

Axis Development Bank has a paid-up capital of Rs 71.81 crore, reserve and surplus of Rs 9.42 crore, and it earned a net profit of Rs 2.03 crore. Its EPS stands at Rs 2.84 and it has a net worth of 113.13.

Similarly, Civil Merchant Bittiya Sanstha has a paid-up capital of Rs 16.65 crore, reserve and surplus of Rs 3.17 crore. It had posted a net profit of Rs 1.32 crore in the last fiscal year, and its EPS stands at 7.98 and has a net worth 119.16.

Source: sharesansar, 4th March 2014
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