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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 ...


Tihar triggers brisk business of Dhakatopi
Source: RSS

Tihar triggers brisk business of Dhakatopi

With the arrival of Tihar, sale of a traditional cap, popularly known as Dhakatopi in Pokhara is in rise. Though Dhakatopi is not much popular among youths during other times, the demand goes very high in Tihar, according to salespersons. Youngsters who usually snigger at the prospect of get fond of Dhakatopi during Tihar, the festival of lights, says Rajeshman Palikhe, local businessman. ...


NTA allows NT to launch 4G service
Source: RSS

NTA allows NT to launch 4G service

Nepal Telecommunications Authority (NTA) has authorised state-run Nepal Telecom (NT) to launch 4G service in Kathmandu and Pokhara from January 1, 2017. The countrys telecom sector regulator approved NTs 4G plan on Friday, according to NTA Chairman Digambar Jha. In the plan submitted to NTA in the second week of October, NT had sought permission for commercial launch of 4G service in Kathmandu ...


Treasury surplus soars to Rs191b as capital spending slacks

The governments savings has soared by 50 percent since the beginning of this fiscal year, as capital budget could not be utilised on time. The governments treasury surplus, which had stood at around Rs127 billion until mid-July, has jumped to around Rs191 billion at the end of the first quarter of this fiscal year-it , according to Nepal Rastra Bank (NRB). The treasury surplus widened largel...


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