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Anuj Kumar Adhikari 06 Mar 07:40 AM

Nepal and Bangladesh signed a pact on Double Tax Avoidance Agreement (DTAA) at Ministry of Finance in Kathmandu on Tuesday. Read Full Story »

Indian government approves proposal to build transmission line in Nepal

Bibek Subedi 02 Mar 08:31 AM

The Indian government has approved an investment proposal to build a transmission line in eastern Nepal to evacuate the electricity generated by Arun-3 Hydropower Project being developed by an Indian state-owned company. Read Full Story »

Mahindra Rise 2019 kicks off in Kathmandu

Post Report 23 Feb 12:35 PM

The first edition of the Mahindra Rise 2019 festival kicked off on Friday at Bhrikutimandap in Kathmandu. MV Dugar Group, authorised distributor of Mahindra commercial and heavy equipment and Agni Incorporated, national seller of Mahindra passenger vehicles for Nepal jointly organised the event. Read Full Story »

 Regulator says gas bottling plants flouting safety rules

Rajesh Khanal 30 Jan 08:38 AM

Most of the gas bottling plants have not been following safety measures putting consumers at high risk of suffering injury or even death due to unsafe cylinders, the Nepal Bureau of Standards and Metrology said after making several market inspections. Read Full Story »

Renault updates Duster with RXS trim in Nepal

Post Report 30 Jan 08:38 AM

Advanced Automobiles, national distributor of Renault passenger vehicles in Nepal, has launched the Renault Duster RXS in petrol variant. The introductory price of the vehicle is Rs4.35 million. Read Full Story »

Industrialists go on warpath against high interest rates

Bibek Subedi, Leela Ballav Ghimire 29 Jan 09:53 AM

Industrialists in the eastern region upset by high interest rates charged by banks on loans have announced launching a stern protest against the government and the central bank. Read Full Story »

Electric scooters yet to gain traction in Nepal

Krishana Prasain 28 Jan 07:53 AM

While more people are making the switch to electric scooters as the cost savings over their petrol powered brethren are substantial, they have failed to set the sales chart on fire. Read Full Story »

5 foreign firms interested in reviving Janakpur Cigarette Factory

Ajit Tiwari 28 Jan 07:50 AM

Five foreign investment firms have shown interest in reviving state-owned Janakpur Cigarette Factory which was once the leading cigarette manufacturer in the country. The company has remained closed since 2011 after sinking into a mess due to political interference, mismanagement and overstaffing. Read Full Story »

Foreign currency expenses to be tightened to check balance of payments deficit

Rajesh Khanal 28 Jan 07:47 AM

The government is preparing to tighten the payment system and foreign currency expenses amid growing pressure on the country’s foreign exchange reserves. A government panel formed last month to study the country’s deteriorating balance of payments situation said that service trade and imports were the key reasons behind the depletion of Nepal’s foreign currency reserves. Read Full Story »

Cross-border Nepal-India petroleum pipeline project back on track

Post Report 27 Jan 08:16 AM

Nepal Oil Corporation has expedited construction of the cross-border Nepal-India petroleum pipeline project which had stalled due to a forest clearance issue. Read Full Story »

Farmers face shortage of chemical fertiliser

Shankar Acharya 26 Jan 10:19 AM

Farmers are facing a shortage of urea at a time when winter crops are in dire need of chemical fertiliser. Lack of urea at the warehouse of state-owned Agriculture Input Company for the last three weeks is likely to affect the productivity of wheat. Read Full Story »

Transshipment privileges in Kolkata from Feb 15

Rajesh Khanal 26 Jan 08:15 AM

Nepal will receive transshipment privileges and permission to use the electronic cargo tracking system on Nepal-bound cargo at Kolkata port from February 15. The facility is expected to reduce the cost of trading by minimising transportation time and speeding up clearance at the port. Read Full Story »

Post Report 25 Jan 09:05 AM

Japan has agreed to enter into cooperation on developing Nepal’s agricultural sector for the first time. Japan has been supporting Nepal in various sectors including education, infrastructure, civil aviation and hydropower. Read Full Story »

Anti-graft body opens detailed investigation on Airbus A330 deal

Post Report 25 Jan 09:05 AM

The Commission for Investigation of Abuse of Authority has opened a detailed investigation into alleged financial irregularities in the procurement process of two wide-body Airbus A330 jets. Read Full Story »

Local units okayed to issue helicopter rescue permits

Sangam Prasain 25 Jan 09:05 AM

The parliamentary International Relations Committee on Wednesday directed the government to make arrangements for the local administration to issue helicopter rescue permits in restricted areas. Read Full Story »

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 »

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