Business & Economy


Nepal Govt. decides to purchase two trains

KATHMANDU: The Council of Ministers on March 18 took various 21 decisions ranging from train purchase to national park management.The meeting decided to buy two diesel-electric multiple unit trains for over Rs 846 million through Indian government company, Konkan Railway Corporation Limited. Tax..

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Construction of South Asia’s longest suspension bridge begins Wednesday, March 20th, 2019

PARBAT: Parbat district which is known as the 'district with the longest and highest suspension bridges in the country, is soon going to have another feather in its cap. The construction works of what is claimed to be the longest suspension bridge in South Asia have begun. The bridge will be 567..

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Upper Trishuli III A to produce electricity by April end

KATHMANDU: The Upper Trishuli III 'A' is finally ready to produce electricity from next month.  The hydropower project which faced many obstructions including the Gorkha earthquake and border blockade is coming into operation from April end. As per the information shared by Executive Director of..

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Foreign Investment Bill Endorsed Monday, March 18th, 2019

KATHMANDU: The House of Representatives has passed the Foreign Investment and Technology Handover Bill, 2075. A proposal seeking passage of the bill was presented at the second meeting of the HoR today by Minister for Industry, Commerce and Supplies Matrika Prasad Yadav. The proposal was passed by..

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Meeting on integration of Nepal-India LoEs from tomorrow

KATHMANDU: A meeting relating to the integration of bilateral letter of exchange (LoE) made at different times between Nepal and India is taking place in New Delhi. The integration aims to make the Nepal-India transit management uncomplicated. The two-day joint-secretary level meeting beginning..

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Nepal 42 local level yet to get direct bank services

KATHMANDU: Bank services are yet to reach a total of 42 local levels of the country. According to the latest economic details made public by Nepal Rastra Bank, branches of commercial banks have opened in 711 of the 753 local level units the country. The government plans to reach banking services..

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Investment summit to be made result-oriented Saturday, March 16th, 2019

KATHMANDU: Various speakers have laid emphasis on importing foreign investment, skills, technology and capital to propel the agenda of prosperity. At a face-to-face programme organised here today by Reporters Club Nepal, they expressed the hope that the Investment Summit to be held on March 29-30..

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Buddha Air to operate flights to Kolkata from May-end Friday, March 15th, 2019

KATHMANDU: Buddha Air, the leading air service provider in the private sector, is operating flights to Kolkata, India from May-end. Buddha Air had planned to start flights to the east Indian city from mid-April. It changed its flight dates considering the parliamentary elections in..

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Stop the Brexit ‘circus’, pleads UK business

LONDON, (AFP) - Britain's business community on Wednesday urged politicians to avoid a "no deal" Brexit after another crushing parliamentary defeat for Prime Minister Theresa May over her EU-divorce deal with Brussels. MPs will Wednesday vote on whether the country should leave the European Union..

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Bill to further widen sphere of IBN: Finance Minister Tuesday, March 12th, 2019

KATHMANDU: Clause-wise discussion was underway regarding the amendment proposal on 'Public Private Partnership and Investment Bill-2075'. The first-phase discussion has begun on the proposal of amendment registered by lawmakers on the bill in today's meeting of the Finance Committee under the..

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Thank God, there were Escorts at WEF in Davos Friday, March 22nd, 2019

It’s been a couple of months since I was hanging out in Davos learning about this year Wolrd Economic Forum. Davos, Switzerland, January 2019 I have been following..