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Investment Bank reports 2.3 million missing
Source: RSS NP

Investment Bank reports 2.3 million missing

Nepal Investment Bank has filed a complaint before the police about Rs. 2.3 million missing from its coffers. A complaint has been received stating that the amount went missing with the involvement of the banks staff, said Chief of District Police SP Arjun Chand. Necessary investigation has thus begun at the Kailali branch of the bank. The details about who was involved or when did the cash ...


NAC to bring two aircraft from China by Saturday
Source: RSS - NP

NAC to bring two aircraft from China by Saturday

The two aircraft the national flag-carrier, Nepal Airlines Corporation, received in loan assistance from China are to be brought here by coming Saturday. The Chinese side has already expressed commitments in writing with the NAC regarding the supply of spare parts and other technical issues, according to NAC General Manager Sugat Ratna Kansakar. The 56-seater MA 60 and the 18-seater Y 12 aircra...


Shares worth more than one billion traded
Source: RSS

Shares worth more than one billion traded

Transaction worth Rs. 1.85 billion took place in the share market this week. According to Nepal Stock Exchange Limited (NEPSE), a total of 11.3 million units of shares of 131 companies were traded. The transaction amount is 6.96 per cent higher than the previous week. Shares of 148 companies had been traded last week with a transaction of 1.73 billion rupees worth of 13.3 million units of share...


Nepse in free fall as market observes excessive selling pressure
Source: RSS

Nepse in free fall as market observes excessive selling pressure

The Nepse benchmark index plunged 58.46 points, or 3.53 percent, to close at 1,599.62 points. The market remained volatile thorough out the trading day as panicked investors, with no apparent reasons, scrambled to offload their shares. KATHMANDU, Nov 20: Nepal Stock Exchange (Nepse) benchmark index nosedived 44.53 points on Sunday (as of 2:35 pm) as the market observed excessive selling pressu...


Uncertainty over fate of demonetized Indian notes fuels illegal exchange
Source: RSS

Uncertainty over fate of demonetized Indian notes fuels illegal exchange

When India Prime Minister Narendra Modi withdrew the legal tender of Indian 500 and 1,000 rupee banknotes on November 8, it was meant to curb black money and corruption, but the move itself has ironically created a new black market -- illegal exchange of those notes held in Nepal. The logic behind the Modis move was that as people exchanging them at authorized bank outlets would have to furnis...


Finance committee discusses Indian govt ban on bank notes with FinMin, NRB governor
Source: RSS

Finance committee discusses Indian govt ban on bank notes with FinMin, NRB governor

The Finance Committee of the Legislature-Parliament on Thursday held a discussion with Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara and Governor of Nepal Rastra Bank (NRB) Chiranjibi Nepal on the latest issues that cropped up after the Indian government banned INR 500 and 1000 bank notes. Deputy Prime Minister and Minister for Finance Krisha Bahadur Mahara, Governor of...


Surya Nepal honored as largest taxpayer
Source: RSS

Surya Nepal honored as largest taxpayer

Surya Nepal Pvt Ltd is the largest taxpayer in the country.The government honored Surya Nepal Pvt Ltd amid a function organized in Kathmandu on Wednesday to celebrate 5th National Tax Day. Surya Nepal, which manufactures products ranging from cigarette to readymade garments, safety matches and incense sticks, paid the highest tax to the government in Fiscal Year 2015/16. Similarly, Siddharth...


Int'l trade fair in Dehradun to target holidaymakers

The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, the capital of Indias Uttarakhand state, with an aim to promote ecotourism. The Chamber is holding a first ever international trade fair to promote its art, culture and tourism destinations. The event is expected to attract Indian tourists as well as tourists from other countries to Nepal. The five da...


Millions worth of famed Mustangi apples sold
Source: RSS

Millions worth of famed Mustangi apples sold

The famed Mustangi apples worth millions have been supplied from the trans-Himalayan district of Mustang for this festive season. From mid September to end of October, apples worth Rs 23 million were sold, according to the District Agriculture Development Office (DADO). Around Rs 80 million worth of additional apples will be supplied, DADO Planning Officer, Tapta Bahadur Gurung said. Last ...


Kailali banana farmers lose out to cheaper imports

Farmers of Kailali are worried as their banana is not finding market because of cheaper Indian imports which have flooded the domestic market. According to Banana Farmers Struggle Committee, Kailali, farmers are on the verge of losing Rs 470 million as they are not finding buyers for their produce. Banana farming is done in 625 hectares of land in the district. The district produces around ...


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