Business & Economy

Nepal to probe black money accounts Sunday, February 15th, 2015

KATHMANDU: Nepal has initiated a probe into the alleged illegal deposit amounting to Rs 5.5 billion by eight Nepali nationals in a bank in Switzerland as part of a crackdown on the money laundering racket. The Nepal Rastra Bank, the central bank of Nepal, has said it has not given any permission..

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IPB approves foreign investment for hydropower projects 

KATHMANDU: The Industrial Promotion Board (IPB) has granted approval for inflow of foreign investment to Upper Kaligandaki Hydropower Project. Today´s meeting of the Board has decided to approve increment of foreign investment, scaling up the capital of the promoter Shell Clean Hydropower in the..

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Bangladesh, Nepal to sign bilateral trade agreement in Expo 2015 Saturday, February 14th, 2015

DHAKA: Nepal Expo 2015 has begun at Bhrikuti Mandap Exhibition Hall from Wednesday. Minister for Commerce and Supplies, Sunil Bahadur Thapa, said that government is preparing to sign a new bilateral trade agreement with Bangladesh. This five days event is being organized by Synthesis Exhibition..

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Nepal Set To Sign US$698-Million Aid Pact Friday, February 13th, 2015

KATHMANDU: The United States and Nepal are set to sign a 'compact agreement' to provide an additional US$698 million aid for the development of Nepal's energy and physical infrastructures. Nepal and the US are preparing to sign the deal after the board of Millennium Challenge Corporation (MCC), an..

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Rupee gains, gold price down Sunday, February 8th, 2015

KATHMANDU: Nepali rupee gained 20 paisa against the US dollar this week, as the Indian currency with which rupee is pegged, gained value against the greenback. On the other hand, gold price came down by Rs 340 per 10 grams this week in line with decline in gold price in the international..

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Four Saarc nations to ink pact on seamless transit

KATHMANDU: A sub-regional agreement, which was also expected to be signed in parallel to the SAARC Transport Agreement, will allow the neighbouring countries too in becoming members in this cross-border trade. This agreement, which has been prevalent in European countries, would allow the..

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Nepal urges India to give more market access to its products Thursday, February 5th, 2015

Hyderabad: Faced with a huge trade deficit with India, Nepal has urged New Delhi to give more market access to its products and accept their laboratory and quality standards back home, a senior official of the Himalayan Kingdom said on February 5. The size of the annual bilateral trade is around..

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ADB asks Nepal to draft constitution at the earliest Tuesday, February 3rd, 2015

KATHMANDU: The Asian Development Bank today appealed to Nepal's government and warring political parties to draft a constitution at the earliest to ensure stability and economic development.  "It is very important for Nepal to draft a constitution based on the ideas of the people at the..

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India gives Nepal Rs 37.12 mn in aid for road upgradation Friday, January 30th, 2015

KATHMANDU: India has given Rs 37.12 million in financial assistance to Nepal for road upgradation work. The 2.2 km-long road from Ghorbanda along Butwal-Pokhara highway to Chilangdi Bhanjyang at Chirtungdhara in Palpa district is expected to benefit Ex-Servicemen and the local population through..

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Daimler India begins export of BharatBenz trucks to Nepal

New Delhi: Daimler India Commercial Vehicles (DICV), a 100 per cent wholly-owned subsidiary of Germany's Daimler AG, has started exporting its BharatBenz trucks to Nepal.  "With this move, Nepal will be the first export market for BharatBenz trucks, in line with DICV's export plans to 15 markets...

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India gifts 20 ambulances, four buses Republic Day Monday, January 26th, 2015

KATHMANDU: The government of India on Monday donated 20 ambulances and four buses to various hospitals, non-profit charitable organizations and educational institutions situated in various 19 districts of Nepal. Indian Ambassador to Nepal Ranjit Rae gave away the vehicles amid a function held on..

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IRD scheme raises tax above 34.96 million scheme Sunday, January 25th, 2015

KATHMANDU : Over 34.96 million tax was raised from 26,011 tax payers during a scheme launched by Inland Revenue Department (IRD). IRD has targeted the scheme, to those who were not in the boundary of the tax, had not submitted income details, mismatched tax payers, till the end of..

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Nepal manpower firms protest Malaysia’s biometric health check Monday, January 19th, 2015

Malaysia's introduction of biometric health checks for Nepali workers by an outsourced private company has raised fierce opposition among recruitment firms due to added costs and security concerns over worker information, Nepalese English daily Republica reports. Citing a letter from the Malaysian..

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India considers laying LPG pipeline to Nepal

New Delhi (PTI): After oil, India is now studying feasibility of laying a LPG and gas pipeline to Nepal for supply of cooking fuel to the Himalayan nation. Nepal currently buys all of its cooking gas (LPG) needs from India, which supplies gas through trucks. In a meeting with Nepalese Commerce..

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Petrol price down, NOC cuts Rs. 2 per litre Sunday, January 18th, 2015

KATHMANDU: Nepal Oil Corporation (NOC) has reduced price of diesel, petrol and kerosene by Rs 2 per liter each effective from Sunday morning. Petrol is now available at Rs 111.5 per liter, while diesel and kerosene will cost consumers Rs 88 per liter each. This is the seventh reduction in prices..

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By Ram Kumar Jha and Saurabh Kumar :: Poor connectivity and non-tariff barriers to trade, besides geo-political tensions between member countries such as India and Pakistan are major reasons for the South Asian Association for Regional Cooperation (SAARC) not achieving its potential in the three..

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Asia stocks mostly rise after oil steadies Thursday, January 15th, 2015

TOKYO: Asian stock markets mostly rose Thursday as oil prices steadied after a series of plunges but gains were uneven amid uncertainty about the global economic outlook. KEEPING SCORE: Japan´s Nikkei 225 jumped 1.5 percent to 17,041.82, getting back above the psychologically key 17,000 point..

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