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10 quintal sugar seized

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10 quintal sugar seized
03 November, Kathmandu: A joint team of Nepal Police and Traffic Police on Thursday seized 10 quintal of sugar from Kavrebhanjyang of Dhulikhel Municipality-9. Police recovered the sugar supplied by hiding in 33 sacks during a security check. The security bodies have suspected the smuggling of sugar from different districts of the eastern Tarai via BP Highway in the recent... Read More

Hetauda Cement Industry halts production amid coal shortage

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Hetauda Cement Industry halts production amid coal shortage
31 October, Makawanpur:The Hetauda Cement Industry has suspended its production from Monday due to its inability to purchase coal on time due to financial crisis. The industry consumes 3,600 metric tons of coal per month. The factory’s General Manager Basanta Raj Pandey said the factory was in operation before the start of the Dashain festival holidays and had produced 300,000... Read More

UAE Crown Prince Visits GITEX

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UAE Crown Prince Visits GITEX
18 October, Kathmndu: Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council, toured today the 43rd edition of GITEX GLOBAL. The world’s largest tech show, being held at the Dubai World Trade Centre (DWTC) from October 16-20, has attracted 6,000 exhibitors and 180,000 tech executives from 180 countries. Sheikh Mansoor bin Mohammed said that under... Read More

Price of petroleum products slashed

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Price of petroleum products slashed
16 October, Kathmandu: The Nepal Oil Corporation (NOC) has reduced the price of petroleum products from midnight yesterday. Issuing a press statement yesterday, the NOC said that the price of petrol has decreased by Rs 11 per litre while the price of diesel and kerosene decreased by equal Rs 5 per litre. According to the NOC, the price of petrol... Read More

Finance Minister Dr. Mahat Attends WB’s Meeting in Morocco

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Finance Minister Dr. Mahat Attends WB’s Meeting in Morocco
09 October, Kathmandu: Minister for Finance Dr Prakash Sharan Mahat has left for Morocco to participate in the annual meeting of the World Bank. The annual meeting will discuss the issues of global concerns, including global economic perspectives, global fiscal stability, poverty alleviation, inclusive economic growth and employment creation. ‘Global action, global impact’ has been set as the theme of... Read More

Euro 52.7 goods trade surplus in Q2’23: EU

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Euro 52.7 goods trade surplus in Q2’23: EU
08 October, Kathmandu: In the second quarter of 2023 (Q2’23), the European Union (EU) seasonally adjusted current account of the balance of payments recorded a surplus of Euro 73.0 billion (+1.7 per cent of GDP), compared with a surplus of EUR60.6 billion (+1.5 per cent of GDP) in Q1’23 and a deficit of Euro 32.6 billion (-0.8 per cent of... Read More

IMF Reaches Agreement on 3rd Review

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IMF Reaches Agreement on 3rd Review
06 October, Kathmandu: The Nepali authorities and the International Monetary Fund (IMF) team reached a staff-level agreement for a disbursement of about $51.3 million under the third review of the Extended Credit Facility (ECF) arrangement. The agreement is subject to approval by the IMF’s Executive Board, according to a press release issued by IMF on October 5. Nepal’s external position... Read More

NRB removes margin lending of Rs 120 million

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NRB removes margin lending of Rs 120 million
06 October, Kathmandu: Amending the Integrated Guidelines 2080 BS, the Nepal Rastra Bank (NRB) has increased the margin lending. With this, the cap of upper limit of Rs 120 million for margin lending is removed. As per the new decision, the margin lending is fixed at Rs 150 million for individuals and Rs 200 million for institutional investors, the Nepal... Read More

FNCCI President Dhakal discusses visa, trade relations with Indonesian Ambassador

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FNCCI President Dhakal discusses visa, trade relations with Indonesian Ambassador
05 October, Kathmandu: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal and Ambassador of the Republic of Indonesia to Nepal, Heru Hartanto Subolo, held a meeting at the FNCCI secretariat on Wednesday. The discussion, which took place on Wednesday, centered around mutual interests in collaboration, business enhancement, and people-to-people relations. Information about this... Read More