Business & Economy

Quake-hit Nepal appeals for aid to rebuild country

By PAAVAN MATHEMA, KATHMANDU,(AFP): Nepal is to host a major meeting of donors Thursday to raise funds to rebuild the quake-devastated country, hoping to dispel doubts that money will be lost to corruption and reconstruction hamstrung by red tape. The twin earthquakes that struck in April and May..

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India continues to stand with Nepal: Indian Foreign Minister Wednesday, June 24th, 2015

KATHMANDU:  Indian Minister of External Affairs, Sushma Swaraj arrived in Kathmandu on Wednesday. She has come here to attend the International Conference on Nepal’s Reconstruction being held in the Capital on Thursday Upon her arrival at Tribhuvan International Airport, Minister Swaraj, on..

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Nepal, India amend bilateral Treaty of Transit Monday, June 22nd, 2015

KATHMANDU: India has agreed to Nepal's request for allowing the movement of vehicles imported from a third country into Nepal through four border points by amending the bilateral Treaty of Transit. Nepal had requested India for the move citing the requirements of additional handling facilities,..

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Capital spending not more than 50 percent: Minister Mahat  Wednesday, June 17th, 2015

KATHMANDU: Finance Minister Dr Ram Sharan Mahat has said that there were some challenges in budget spending though resource management was not a tough job. "The current fiscal year has almost come to an end but most of the ministries have not even spent 50 per cent of the capital expenditure which..

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Nepal quake assessment shows need for major recovery efforts Tuesday, June 16th, 2015

KATHMANDU, (WB): An assessment of the impact of a recent earthquake and major aftershocks shows that Nepal’s recovery needs amount to the equivalent of a third of its economy. The damage to the economy will require sustained financial support and effective recovery programs to create a more..

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Finance Minister Mahat hands over invitation to Indian PM Friday, June 12th, 2015

KATHMANDU: Finance Minister Ram Sharan Mahat has officially handed over invitation for donors' conference scheduled in Kathmandu for June 25 to Indian Prime Minister Narendra Modi. According to a press statement, Mahat also requested Modi to attend the conference saying that his presence will..

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Nepali youth bags manager of the year award in UK Wednesday, June 10th, 2015

Chiran Sharma, LONDON: A Bhaktapur local has won the Manager of the Year Award 2015 for the McDonalds fast food chain in Europe. Pramesh Raj Giri of Dattatraya, Bhaktapur won the award established in memory of the founder of McDonalds Ray Kroc by outwitting 1,400 managers across Europe. A..

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Police arrest Sitaram Prasai on charge of banking fraud Thursday, June 4th, 2015

KATHMANDU: Police on Thursday arrested Manokamana Development Bank Executive Chairman Sitaram Prasai, on charge of banking fraud . A team Metropolitan Police Sector arrested Tulasi Upreti and Kanchan Parajuli along with Prasai. They have been remanded to custody for investigation after taking..

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China Eyes Pipeline Sale Plan :: By Michael Lelyveld Monday, June 1st, 2015

China's government appears to be planning a major restructuring of its petroleum industry that would force state-owned giants to sell their pipeline networks. The limited breakup of the oil and gas monopolies under consideration by the National Development and Reform Commission (NDRC) would..

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India eases norms to facilitate relief supply to Nepal

Shubhajit Roy, New Delhi: In a bid to facilitate movement of relief supplies sent by foreign governments and agencies like Red Cross and UN to quake-hit Nepal, New Delhi has waived security deposits and increased transit points from two to eight. This assumes significance as Prime Minister..

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China’s Risky Endgame in Hong Kong Wednesday, November 13th, 2019

Although the rapid escalation of violence in Hong Kong seems terrifying enough, things may be about to get much worse. The communiqué of the recently concluded fourth..