business

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32 airline companies reluctant to pay arrears in Nepal

32 domestic and foreign airline companies, which are no longer in operation, have been disinclined to pay Rs 113, 964, 973 they owe to the Civil Aviation Authority of Nepal (CAAN). Tribhuvan International Airport Civil Aviation Office (TIACAO) has directed these companies to pay their arrears. Austrian Airlines has arrears of Rs 43,600.

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Panchakanya Mai Hydropower to issue IPO to locals

The Panchakanya Mai Hydropower Company is set to issue initial public offering (IPO) to the locals from January 19. The company is based at Sandakpur Rural Municipality of Ilam. According to Company executive director Santosh Kumar Pradhan, the Company is to sell 10 per cent IPO to the locals of the areas affected by the 12-Megawatt Upper Mai and the

by Alisha Shrestha | Jan 18
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Joint Venture Between NEA and Guangxi Transmission for Barhabise Substation

The Nepal Electricity Authority(NEA) has approached a joint venture with Guangxi Tansmission and Substation Construction Co and Shenzhen Clou Electronics to build a 220 kV substation in Barhabise.

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Panchakanya Mai Hydropower Company to issue IPO to locals

The Panchakanya Mai Hydropower Company based at Sandakpur Rural Municipality of Ilam is to issue initial public offering (IPO) to the locals from January 19. The Company is to sell 10 per cent IPO to the locals of the areas affected by the 12-Megawatt Upper Mai and the 6.1-Megawatt Upper Mai 'C' hydroelectricity projects, Company executive director Santosh Kumar Pradhan

by RSS | Jan 17
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NA to prepare new DPR of Kathmandu- Tarai

The Nepalese Army (NA) is to prepare the detailed project report (DPR) of the Kathmandu- Terai Madhes fast track on its own. At a press meet organised by the NA at its headquarters to share information about the progress so far on the project implementation, project deputy chief brigadier general Surya Prasad Khanal said this.

by RSS | Jan 16
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X-Preneur’ talk series strengthening entrepreneurship in Nepal

14th January showcased ‘X-Preneur’ talk series by Clock b Business Innovations at Kaffe Codes, Central Business Park in Thapathali.‘X-Preneur’ talk series comprised of experience sharing, Q&A session and informal sessions. Participants were confronted with journey of entrepreneur in their business premises and how they coped up with adaptive phase.

by Alisha Shrestha | Jan 16
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Foreign trade declines through eastern development region of Nepal

In Fiscal Year 2016/17, Nepal’s overall foreign trade through the Eastern Development Region faltered due to the decline in both import and export figures. All in all, Nepal’s foreign trade through the eastern region declined to Rs173.53 billion. Furthermore, goods worth Rs147.23 billion were imported to Nepal through the region in FY 2016/17, compared to Rs149.20 billion in previous FY.

by Dhiren Rai | Jan 16
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The price of Pulses falls down

Often, product price is skyrocketed in market. But, this time, price of pulses have taken the edged off- you can purchase it in lower price. Since, pulses are imported from neighboring country India, where the price has declined, and automatically blessing customers with same low price in Nepal as well.

by Alisha Shrestha | Jan 15
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Export of Nepali Organic Tea Obstructed by Indian Customs Officials

Recently, Indian customs office at Panitanki is creating hassles for export of Nepal’s organic tea. Before, the same hassles were observed during export of cardamom and ginger. The organic tea is basically ingrown products from Panchthar and Illam. The products are exported to European and American market via India Route

by Alisha Shrestha | Jan 15
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WB revises growth to 4.6% for the current fiscal year

If, in any given year, the government takes in more money than it spends, the result is a budget surplus. On the other hand, if the government spends more than it takes in, we have a budget deficit. Historically, deficits have occurred much more often than surpluses; typically, the government spends more than it takes in.

by Dhiren Rai | Jan 14
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Demand for high-end Television rises

Television is a great source of entertainment and news. You can get all the latest updates on what’s going around you by just tuning in with the respective channels on your television. In contrast to that, end of power cuts and availability of television with advanced functionalities have given a boost to sales of television sets in Nepal.

by Dhiren Rai | Jan 14
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Eco Cell Industries- making housing earthquake resistant

Nissan Shrestha, Bivek Adhikari, Subash Shrestha, and Sacheet Pandit are the aspiring TU MBA graduates who have come up not with just a product but an answer to everyone who needs a more reliable solution for constructing their houses.

by Aashish Vermaa | Jan 13
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Authorized distributor of Fogg, urged government to control duplicate brands

Anup Agrawal, operator of Access Nepal Trade Link – the authorized distributor of Vini Cosmetics for Nepal, has requested the Department of Customs (DoC), Department of Industry (DoI), and Nepal Police to put a control upon illegal import of duplicate brands in the country. Anup has also sent a letter including the samples of the duplicate copies of Fogg,

by Aashish Vermaa | Jan 13
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Several banks & financial institutions have stopped issuing loans

At the moment, most of the commercial banks in Nepal have stopped issuing new loans as they are running out of funds for lending. Except for three government-owned banks and a couple of commercial banks, most of the 'A' class lenders are turning away borrowers who approach them for loans.

by Dhiren Rai | Jan 12
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Supply Minister calls for more storage of fuel for Nepal

Minister for Supplies Jayanta Chand has said that Nepal should now work towards ensuring energy security in the country. Addressing the 48th anniversary of Nepal Oil Corporation (NOC) here today, Chand opined that a country like Nepal, which is completely dependent on other countries for fossil fuel, should gear up to enhance the storage capacity of petroleum products and opt

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Credit Crunch deepens, MoF Study Committee yet to submit report

A study committee formed by the Ministry of Finance (MoF) last week to submit a report on how the government could address the challenge of the credit crunch in the banking sector has yet to submit its report even though the deadline has already been crossed. The Confederation of Nepalese Industries (CNI) recently urged Nepal Rastra Bank to address the

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Telecom regulator to hire consultant to monitor broadband projects

Nepal Telecommunications Authority (NTA) is set to hire a consulting firm to monitor the projects under NTA’s Rural Telecommunications Development Fund (RTDF). The telecommunication sector regulator of the country recently invited expression of interest (EoI) from interested firms to monitor, evaluate and certify the progress of RTDF-funded projects.

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Nepal Government's plan to substitute Indian LPG bullets fails

The Nepal government’s plan to substitute Indian liquefied petroleum gas (LPG) bullets to supply cooking gas in the country has suffered perennial delays as the issue has not received due priority from the concerned agencies. Indian authorities refused to issue non-explosive certificates to Nepali gas bullets almost a year ago.

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Nepal's trade deficit spikes to Rs 398.76 billion

Nepal's trade deficit has widened to Rs 398.76 billion in the first 5 months of the ongoing fiscal, as the import bill of the country surged by 13 percent to reach Rs 432.48 billion, whereas exports slowed to a crawl. According to data unveiled by the Department of Customs, the country exported goods worth Rs 33.72 billion in the first...

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Flood and fire victims to get subsidized loans

The people affected due to the floods in Saptari and the fire in Tehrathum and Bhojpur districts will get subsidized loan facility from banks and financial institutions to get back on their feet. Nepal Rastra Bank (NRB) has directed the banks and financial institutions (BFIs) to extend subsidized loan facility to the affected people of aforementioned three districts.