Business & Economy

Agreement for Nepal-India trade promotion Wednesday, January 16th, 2019

KATHMANDU: Nepal Chamber of Commerce and Trade Promotion Council of India have signed a bilateral agreement to promote trade between Nepal and India. The agreement has incorporated issues like promoting trade between Nepal and India in the interest of both countries, increasing trade relations and..

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Israel ready to increase quota for Nepali workers

KATHMANDU: The Israel government is positive to increasing the number of quota for Nepali workers in Israel. In a meeting with Minister for Labour, Employment and Social Security Gokarna Bista at his office in Singh Durbar today, Israeli Ambassador to Nepal Benny Omer shared that the government..

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NRB’s directive to banks and BFIs Monday, January 14th, 2019

KATHMANDU: Nepal Rastra Bank (NRB) has directed the banks and financial institutions to submit the details of all the loans and facilities they have approved to it. The central bank through a notice today urged all the ‘A’, ‘B’ and ‘C’ class banks and financial institutions to provide..

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US threatens sanctions over Russia-Germany gas pipeline

FRANKFURT AM MAIN, (AFP) - The US ambassador to Germany has warned of sanctions against firms linked to the Nord Stream 2 gas pipeline from Russia, the American embassy in Berlin confirmed Sunday. A letter envoy Richard Grenell sent to several businesses "reminds that any company operating in the..

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No-deal Brexit ‘can’t be managed’: UK business chief Friday, January 11th, 2019

LONDON, (AFP) - A no-deal Brexit "cannot be managed", is "certainly not desirable" and "the economic consequences would be profound, widespread and lasting", the head of Britain's main business lobby group said Friday. Carolyn Fairbairn, head of the Confederation of British Industry, used a speech..

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Nepal-Japan labour agreement to take place in Kathmandu soon Thursday, January 10th, 2019

KATHMANDU: A Japanese team is likely to arrive in Kathmandu for signing the Nepal-Japan labour pact in the near future. In a courtesy call on Prime Minister KP Sharma Oli today, Japanese Minister for Foreign Affairs Taro Kono who was on a two-day Nepal visit informed that the signing of labour..

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Nepal to have direct flights to Japan Wednesday, January 9th, 2019

KATHMANDU: Nepal and Japan have agreed to revise the Air Service Agreement signed between the two countries in 1993. The signing of Exchange of Notes in this regard will pave the way for the operation of direct flight between the two countries. The agreement was signed during the Nepal-Japan..

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Samsung Electronics flags near-30% slump in Q4 operating profit Tuesday, January 8th, 2019

SEOUL, (AFP) - Samsung Electronics on Tuesday flagged its first quarterly profit drop in two years and painted a grim outlook owing to mounting competition from Chinese smartphone makers and declining chip prices. The shock warning added to concerns about the broader tech sector after Apple sent..

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US negotiators in Beijing for trade war talks Monday, January 7th, 2019

BEIJING, (AFP) - US negotiators on Monday headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil. The visiting delegation, led by Deputy US Trade Representative Jeffrey Gerrish, left its hotel in Beijing..

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32% increase in revenue: PM Oli

KATHMANDU: Prime Minister KP Sharma Oli has said the economic indicators of the country in the past five months of the current fiscal year were positive. During the meeting of the House of Representatives today, PM Oli shared the information that the revenue collection was upped by 32 percent in..

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Central Bank to facilitate BFIs merger process Sunday, January 6th, 2019

KATHMANDU: Nepal Rastra Bank has adopted a new policy in a way to facilitate the process for merger between the financial institutions. Issuing a circular today, the central bank has stated that it would moderate and facilitate the financial institutions for merger process or their up-gradation as..

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SEBON directs Stock Exchange to provide broker license Thursday, January 3rd, 2019

KATHMANDU: The Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange to provide the brokers' license to commercial banks, so that they could make transaction through their auxiliary companies. Such direction was made on Wednesday. The SEBON had earlier directed the Stock Exchange to..

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Trump says ‘big progress’ on possible China trade deal Monday, December 31st, 2018

By Yeganeh Torbati and Ryan Woo, WASHINGTON-BEIJING (Reuters) - U.S. President Donald Trump said on Twitter that he had a "long and very good call" with Chinese President Xi Jinping and that a possible trade deal between the United States and China was progressing well. As a partial shutdown of..

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Investment Summit in March 2019 Friday, December 28th, 2018

KATHMANDU: The Investment Summit-2019 is taking place in the capital on March 29-30, 2019 in a bid to promote Nepal as an attractive destination for foreign investment. The summit is to be organized by the Government of Nepal and co-organized by the Federation of Nepalese Chambers of Commerce and..

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Employment opportunity to youths returned from Korea in Nepal Wednesday, December 26th, 2018

KATHMANDU: An agreement has been signed regarding providing opportunity of employment in Nepal to returnee migrant workers from Korea. Visiting Vice-President of Department of Human Resources of Korea and chiefs of different Korean companies in Nepal signed the agreement regarding providing job to..

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NEPSE index dips 6.45 points Monday, December 24th, 2018

KATHMANDU: The Nepal Stock Exchange index decreased 6.45 points to close at 1119.74 today. The sensitive index, which measures the performance of class 'A' stocks, also dipped 1.7 points to sit at 253.68. The market witnessed the trading of over Rs 798 million worth of 2.2 million shares of the..

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No-Confidence Survivor: Theresa May and Brexit Thursday, January 17th, 2019

Theresa May’s prime ministership remains one of torment, drawn out, and weakened daily. But does it really matter? If it is true to claim that people deserve the..