CNI relief distribution

KATHMANDU:

The Confederation of Nepalese Industries (CNI), with support from MAHA Sanchar and its member organisations, continued to distribute relief materials to people affected by the devastating earthquake of April 25. In this regard, relief goods were handed over to former vice chair of National Planning Commission and former ambassador Shankar Sharma in Gorkha district through the chief district officer (CDO) on Monday, as per a press statement issued on Tuesday. Similarly, aid materials were handed over to the CDO of Nuwakot district on Tuesday. The relief materials collected for distribution include rice, beaten rice, noodles, tarpaulin sheets and blankets. The confederation has so far distributed relief materials worth Rs six million. — HNS

NMB Bank’s support

KATHMANDU:

NMB Bank has announced financial support worth Rs 11.5 million to the victims of the devastating earthquake of April 25. The bank will extend support for constructing low-cost safe homes as permanent shelter in a village for earthquake victims. This support will be extended in different phases that include building of appropriate houses, assistance in self employment, education of children and environmental sanitation in the area, as per a press statement issued on Tuesday. The bank has been providing emergency relief items to certain affected areas through its staff members and will continue it as emergency response, the release adds. — HNS

US deficit jumps

WASHINGTON:

The US trade deficit in March jumped to the highest level in more than six years as a small increase in exports was swamped by a flood of imports from autos to cellphones. The Commerce Department says the deficit rose to $51.4 billion, the largest trade gap since October 2008 and more than 43 per cent higher than the February imbalance. Exports were up 0.9 per cent to $187.8 billion, while imports increased 7.7 per cent to $239.2 billion. Economists had expected the March deficit to expand, reflecting resolution of labour disputes which had slowed shipments at West Coast ports. But the deficit was bigger than expected and will likely shrink an already anaemic first quarter of economic growth. — AP

MM told to pay $10m

NEW YORK:

Motorola Mobility (MM) said a US jury ordered the firm to pay $10.2 million in damages for using Fujifilm Corp’s patented technology in its phones without permission. Fujifilm Corp, a subsidiary of Fujifilm Holdings Corp, sued Motorola in 2012, accusing the firm of infringing three of its patents on digital camera functions and a fourth patent relating to transmitting data over a wireless connection such as Bluetooth. — Reuters

Source: THT