NOBODY KILLED IN YETI AIRLINES ENGINE EXPLOSION

NOBODY KILLED IN YETI AIRCRAFT ENGINE EXPLOSION

Kathmandu, 26 October: An engine of Yeti Airlines Jet Stream airplane was damaged when disaster in an
an explosion at Pokhara late Wednesday afternoon at 5.30 as it was taxing to prepare for takeoff for the capital.
Nobody was killed or injured.
The engine caught fire after the fire.
Eighteen foreigners were among the 23 passengers.
Sixteen passengers and crew of a Buddha Air Beechcraft crashed while landing at TIA of the capital.
Six persons were killed this month in a crash of an army transport transporting a sick solder to the capital from Nepalgunj in the far-West.
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Kathmandu, 26 Oct. Nepal Army Chief Gen. Chatraman Singh Gurung returned from an international conference in Hawaii, USA, Wednesday.
Army chief of 27 countries participates in the meet.
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INFLATION COMES DOWN TO 8.5 PERCENT

Kathmandu, 26 Oct.: Nepal´s balance of payment (BoP) recorded a surplus of Rs 17.27 billion over the first two months of the 2011/12 fiscal year and inflation too moderated to 8.5 percent in mid-September, says a latest macro-economic report of Nepal Rastra Bank that portrays a rosy picture of the country´s economy, Republica reports.

The report released on Tuesday has attributed the BoP surplus, which is a sharp improvement when compared with deficit of Rs 5.89 billion recorded for the same period last year, to rise in remittance flow and improvement in service accounts, among others.

“Nepal received workers remittances worth Rs 47.32 billion, recording a sharp growth of about 25 percent as compared to figures of the same period of last year,” the report states.

Despite rise in remittance flow and money supply, inflation went down by a notch -- thanks to low growth in the prices of food items. According to the central bank, prices of food items in mid-September grew by 10.1 percent, contrary to 12.2 percent rise of the same period last year.

Mainly the drop in prices of legumes (by 4.1 percent), spices (by 10.5 percent) and hard drinks (by 2.2 percent) dragged down the prices of food and beverages.

Prices of vegetables, fruits and milk products and eggs, however, jumped by more than 49 percent, 38 percent and 13 percent respectively, burning holes in consumers´ pockets.

“Prices of non-food and services also grew by 7.2 percent in mid-September 2011, compared to 5.6 percent of the same period last year,” states the report.

The report also shows encouraging figures on exports front. For instance, the report says Nepal´s exports over the first two months of 2011/12 grew by about Rs 2 billion and touched Rs 12.48 billion. It had dropped by almost a billion rupee in the same period last year.

However, imports also grew by around Rs 9 billion to Rs 69.91 billion. As a result of this sharp rise in imports compared to exports, country´s trade deficit widened to Rs 57.43 billion.

Country´s total foreign currency holding, meanwhile, rose by over 10 percent and stood at Rs 300.14 billion.
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