TODAY NEWS

Coca-Cola files law suit against its insurers

Apr 7, 2017- The Coca-Cola Company has filed a suit in Georgia Federal Court against Lloyd’s of London and another insurer seeking for compensation worth $ 1 million to cover the loss caused during the 2015 blockade in Nepal. According to a website law360.com, the US beverage maker has stated that the company was ensured under a political risk policy it held with the insurer.

 “Coca-Cola says the blockade cut off the flow of essential raw materials to its two plants in the county, causing one to shut down and the other to run at limited capacity. The beverage maker says the event falls squarely under “political risk,” and that Lloyd’s and International Insurance Co. of Hannover have wrongly refused to pay its $1 million claim,” a news run by the website reads.

The complaint has stated that the insurers under the terms of the policy “received substantial premiums in exchange for a promise to provide broad insurance coverage, including coverage for [losses caused by] the Nepal-India Border Blockade,” the website states. The policy “does not limit or exclude Coca-Cola’s claim for coverage, and Coca-Cola has satisfied all conditions precedent to coverage.”

“Coca-Cola says the policy has a $50 million cap, and is suing for breach of contract, and seeking $1 million plus interest, as well as a judgment that the loss is covered by the policy,” reads the news report.

 “The inability for supplies to arrive in Nepal significantly limited the Coca-Cola Bottling Plants’ ability to obtain sugar, fuel, CO2, and other supplies,” the complaint said. “The inability to run [one plant] to capacity and [the other] at all led to significant business interruption losses to Coca-Cola.”

According to the complaint, “Despite Coca-Cola’s correspondence to the insurers, the insurers have disregarded Coca-Cola’s rights under the [policy] and continued to wrongfully deny coverage to Coca-Cola.”.

Coca-Cola did not say in its complaint why the insurers refused to cover the claim, the law360.com report states. 

According to law360.com, Coca-Cola is represented by Anthony P. Tatum and Nicholas G. Hill of King & Spalding LLP.

Assistant UN Secy Gen Verburg calls on PM Dahal

Apr 8, 2017- Visiting Assistant UN Secretary General and Nutrition Programme Coordinator Gerda Verburg called on Prime Minister Pushpa Kamal Dahal at the latter’s residence in Baluwatar on Saturday.

During the meeting, PM Dahal discussed nutrition situation in Nepal and informed that the situation is improving with the collaboration of the government, private sectors and donors, according the PM’s Secretariat.

Saying the government has been moving ahead taking the agenda of sustainable and balanced development along with nutrition, PM Dahal, who is also the Chairman of ruling CPN (Maoist Centre), said that women would take leadership from the bottom level after the local level elections slated for May 14.

He further said that the nutrition issue would also be included in the health and eduction.Meanwhile, Under Secretary-General Gerda expressed happiness over the progress made by Nepal in the nutrition sector and assured that the UN would provide support to Nepal in this sector. 

Morcha cadres clash with police in Siraha

Apr 8, 2017- A clash ensued between police personnel and Madhesi Morcha cadres at Lahan in Siraha district on Saturday.

The clash erupted after the Morcha cadres tried to foil the CPN-UML’s party joining programme.Meanwhile, police have arrested 18 persons including Sanghiya Samajbadi Forum Nepal district chairman Badal Yadav and leader Nabin Yadav from the scene. They have been kept at the Area Police Office, Lahan.

Earlier, the Morcha, an alliance of seven Madhes-based parties, cadres had tried to disrupt the UML’s Mechi-Mahakali campaign in various districts of Tarai.

NC will make country prosperous after elections: MahatApr 8, 2017- Nepali Congress central member Prakash Sharan Mahat claimed that his party would take the country towards the path of prosperity after the local level elections slated for May 14.Saying that the country has not been able to head towards the path of prosperity due to political instability, the former Finance Minister said that local elections would pave the way for much needed political stability in the country.Speaking at a programme organised in Damak, Jhapa, on Saturday, the NC leader claimed that his party had played an instrumental role for the overall development of the country.He also advised the local leaders to pick candidates with clean image for the elections.Meanwhile, Mahat urged the party cadres not to run after rumours.

Pakistan's Younis Khan to retire after West Indies tour

Pakistan's most prolific test batsman Younis Khan will quit international cricket after the three-test series in West Indies starting later this month, the 39-year-old said on Saturday.

Younis' announcement comes after captain Misbah-ul-Haq said on Thursday that the upcoming Caribbean tour will be his last.

"People are calling me and asking me not to make any announcement to leave but now is the time," the former captain said in Karachi.

"No player always remains fit, the motivation never remains the same, so this is the time when Younis should leave the field after the upcoming series in West Indies."

Younis has played 115 test matches so far and is Pakistan's most successful runs scorer in test cricket. He heads into the West Indies tour needing 23 runs to become his country's first batsman to score 10,000 test runs.