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Nepal Airlines to auction last B757 after engine overhaul

Sangam Prasain 23 Jan 09:01 AM

Nepal Airlines Corporation will retire its last Boeing 757 after doing an engine overhaul, technically known as C-check, as this can significantly affect the aircraft’s resale value. Read Full Story »

Authorities clamp down on poultry smuggling

Shiva Puri 23 Jan 09:01 AM

Local authorities are clamping down on poultry smuggling from India which has grown in recent years. Read Full Story »

Digital distribution lifts Nepali film industry

Krishana Prasain 23 Jan 09:01 AM

The advent of digital distribution over a decade ago has shaped Nepal’s film industry into a nearly Rs1 billion behemoth, according to some experts. Read Full Story »

Two oil pumps found guilty of tampering

Post Report 21 Jan 09:36 AM

Nepal Bureau of Standards and Metrology has barred two petrol pumps based in Kathmandu, Maitidevi Oil Stores and Chuchhepati Oil Stores, from conducting their business after they were found tampering the official seal imposed on fuel dispensers of the gasoline stations.  Read Full Story »

Arun III Hydropower Project about 15 percent complete

Deo Narayan Sah 21 Jan 09:36 AM

The Arun III Hydropower Project in eastern Nepal is about 15 percent complete. Construction of the $1.4 billion plant began on May 12 last year. India’s SJVN Arun III Power Development Company is building the 900 MW run-of-the-river type project on the Arun River in Sankhuwasabha district. Read Full Story »

Central bank issues notice on Indian notes ban

Post Report 21 Jan 09:35 AM

Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs100. Read Full Story »

Remittances surge 32pc despite drop in migrant outflow

Bibek Subedi 20 Jan 07:26 AM

The current fiscal year looks good for the remittance industry despite the continuous fall in number of workers going abroad for employment. Read Full Story »

Tanahu Hydro asks firms to start work

Bibek Subedi 19 Jan 09:20 AM

Tanahu Hydropower Limited has given a contract commencement date to the two companies hired for the execution of the 140MW Tanahu Hydropower Project. Read Full Story »

Nepal’s outflow of money heavily outweighs inflows

Rajesh Khanal 19 Jan 09:18 AM

Outflow of funds from Nepal surpassed inflows by Rs85.32 billion in the first five months of the current fiscal year, mainly due to excessive rise in import bill compared to export earnings. Read Full Story »

Hotel Vivanta Kathmandu opens

Post Report 18 Jan 08:01 AM

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Demand for electric vehicles on the rise

Krishana Prasain 18 Jan 07:22 AM

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China roped in for oil and gas drilling

Rajesh Khanal 18 Jan 07:22 AM

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More than Rs50b mopped out of financial system

Bibek Subedi 18 Jan 07:22 AM

At a time when the banking industry of the country is reeling under acute shortage of loanable fund, more than Rs50 billion has been mopped out from the total deposits of the banks and financial system as advance payment of the income tax owed by the businesses to the government. By the end of this fiscal year’s second quarter, businesses have to make an advance payment of tax to the government.  Read Full Story »

Foreign aid disbursement up 16pc

Rajesh Khanal 17 Jan 08:31 AM

Nepal’s foreign aid disbursement grew 16 percent to $1.62 billion in the last fiscal year that ended mid-July, with majority of the funds going towards economic reform, education, urban development, health and local development. Read Full Story »

Foreign aid in 5 provinces grows

Post Report 17 Jan 08:31 AM

Five out of seven provinces saw their foreign aid disbursement grow in the last fiscal year. According to the Development Cooperation Report, Province 3, despite a drop of 6.28 percent in aid disbursement, stood the top recipient of the development assistance. It received aid amounting to $332.47 million in 2017-18.  Read Full Story »

Business accelerator draws 35 applicants

Krishana Prasain 16 Jan 08:00 AM

Next Launchpad has received 35 applications from start-ups and small and medium enterprises so far to enrol in its second business accelerator programme. The call for applications closes on January 31. Next Launchpad is a mentorship driven, business accelerator programme where early stage businesses take their business to the next level through a four-month-long rigorous Launchpad curriculum.  Read Full Story »

Market for cosmetic products looks good

Krishana Prasain 15 Jan 07:47 AM

Korean and Japanese brands hold a large share of the cosmetics market in Nepal. According to a Korean cosmetics merchant, monthly sales of Korean and Japanese beauty products total around Rs2.5 million. Ximiso, Miniso and Mumuso brands of cosmetics have gained significant popularity in the Nepali market within a short period of time.  Read Full Story »

Nepal Investment Bank holding talks to recover money withdrawn by Sumargi

Bibek Subedi 15 Jan 07:47 AM

Responding to written instructions from the central bank, Nepal Investment Bank said that it had started consultations with its legal advisors to bring back the money withdrawn by controversial businessman Ajeya Raj Sumargi on the basis of an interlocutory interim order issued by the Supreme Court on December 25. Read Full Story »

Post Report 14 Jan 07:44 AM

Sugar producers have been lobbying strongly to hike the wholesale price of sugar by Rs13 per kg following the revision of the sugarcane floor price by the government. Read Full Story »

Domestic airfares plunge as carriers face glut of seats

Sangam Prasain 14 Jan 07:43 AM

Domestic air passengers are laughing all the way to the airport as carriers are engaging in a fare war and making unannounced and quiet price cuts. The competition is expected to intensify with airlines planning to add more aircraft this year, and they will have to work harder to fill all those extra seats. Read Full Story »

Nepse posts marginal gain of 1.97pts

Rajesh Khanal 13 Jan 07:34 AM

Nepal Stock Exchange (Nepse) last week gained a marginal 1.97 points to close at 1,180.84 points, highlighting the lukewarm response from investors despite a series of reform measures introduced by the Securities Board of Nepal.  Read Full Story »

Bheri Babai calls bids for hydropower component

Bibek Subedi 12 Jan 09:06 AM

The Bheri Babai Diversion Multipurpose Project finally moved to appoint a contractor to execute its hydropower component. The project office initiated the public procurement process Wednesday to select a contractor by publishing a notice inviting interested firms to apply for prequalification to construct the headworks, surge shaft, penstock and powerhouse.  Read Full Story »

Nepal seeks transshipment privileges at Kolkata port

Rajesh Khanal 12 Jan 09:03 AM

Nepal has asked India for transshipment privileges and permission to use the electronic cargo tracking system (ECTS) on Nepal-bound cargo at Kolkata port too. Nepal has been receiving transshipment privileges at Vishakhapatnam port and using the ECTS on cargo dispatched from there since August. Read Full Story »

Domestic flights to be cheaper from Sunday

Post Report 11 Jan 09:01 AM

Flying on domestic airlines will be a bit cheaper from Sunday as they have slashed the fuel surcharge following a drop in the price of aviation fuel. The extra charge added to the cost of an air ticket could drop from Rs80 to Rs400 depending on distance, according to internal carriers. The new tariff will be implemented from Sunday. Read Full Story »

Bangladesh lifts ban on Nepali yarn import via land port

Rajesh Khanal 10 Jan 09:05 AM

Bangladesh has decided to lift the ban on import of yarn from Nepal via the Banglabandha land port after nearly 17 years, following repeated requests from the land locked country. Read Full Story »

Kabeli power line project receives forest clearance

Post Report 10 Jan 09:05 AM

The Kabeli Corridor Transmission Line Project has received forest clearance, allowing it to begin construction of the remaining 13 km of the 90.2-km power line which is touted as the backbone of the national grid in the eastern region. Read Full Story »

Tata Motors launches all new NRG in Nepal

Post Report 10 Jan 09:05 AM

Tata Motors has launched the latest addition to its passenger vehicle family with the introduction of the Tata NRG. The Tata NRG gets SUV inspired styling and is positioned as ‘Nepal’s youngest compact utility vehicle’. Read Full Story »

Nepal gets subscription boxes for menstruation

Krishana Prasain 09 Jan 08:27 AM

Periods have always been a painful and stressful experience for women. From worrying about it being a taboo subject to dealing with the various mental and physical changes, women in Nepal have had to deal with periods on their own.But that may soon become a thing of the past. Read Full Story »

Nepal bought cars valued at Rs18b in 2018

Krishana Prasain 08 Jan 07:30 AM

Auto imports continue to swell even as economists wail about the expense and yawning trade deficit. Nepal imported SUVs and vans worth Rs17.85 billion in fiscal 2017-18, up from Rs15.20 billion in the previous fiscal year, the Trade and Export Promotion Centre said. Read Full Story »

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