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Indian ban leaves Nepali ginger rotting

Indian governments decision to impose a ban on import of ginger from Nepal has left the future of Nepals ginger farming highly uncertain as the southern neighbor is the main market for the product. Sunday marked the sixth consecutive day of disallowing entry of Nepals gingers in to Indian markets. Indian side has claimed that gingers being imported from Nepal contain high pesticide residue. The...


LPG price slashed by Rs 50 per cylinder
Source: RSS

LPG price slashed by Rs 50 per cylinder

The government has reduced the price of cooking gas by Rs 50 per cylinder effective from Thursday midnight. The meeting of Nepal Oil Corporation (NOC) management on Thursday afternoon took the decision to this effect. Following the price cut decision, a cylinder of Liquefied Petroleum Gas (LPG) will cost Rs 1,325 in the domestic market. LPG price has been reduced by Rs 50 per cylinder...


India puts a ban on ginger imports from Nepal
Source: RSS

India puts a ban on ginger imports from Nepal

India has put a ban on import of gingers from Nepal, arguing that they have high pesticide residue and that Chinese ginger was being exported in the name of Nepali product. Not a single consignment of ginger from Nepal has entered India since Tuesday. The decision has come in the middle of the harvesting season. Exporters say local farmers will lose their major international market following re...


Japan to provide grant assistance of Rs 1.832 b to Nepal
Source: RSS

Japan to provide grant assistance of Rs 1.832 b to Nepal

The government of Japan has decided to extend grant assistance up to a total of 1.832 billion rupees to the government of Nepal for the improvement of aviation safety facilities and school sector development program in Nepal. Masashi Ogawa, Ambassador of Japan to Nepal, and Lok Darshan Regmi, secretary at the Ministry of Finance, signed and exchanged two separate sets of notes on Wednesday on b...


Govt endorses SAARC Power Trade Agreement

The government has endorsed the SAARC Power Trade Agreement (PTA) signed among the South Asian Countries. The agreement titled SAARC Framework Agreement for Energy Cooperation (Electricity) was signed during the 18th SAARC summit held on November 26 and 27th in 2014. This agreement has already been endorsed by India and Bhutan, apart from Nepal. The remaining five countries are yet to endorse the ...


China pledges five times more FDI in Nepal than India
Source: RSS

China pledges five times more FDI in Nepal than India

China has surpassed India in terms of committing foreign direct investment (FDI) in Nepal. According to the latest statistics maintained by Nepal Rastra Bank (NRB), China has outdone India in terms of committing FDI in Nepal as well as in terms of projects in Nepal. The latest data put India on the fourth position in terms of the number of development projects pledged in Nepal and on the sec...


Indian liquor giant United Spirits quits Nepal

The Department of Industry (DoI) has permitted Indias United Spirits Ltd to divest its 82.46 percent shares in United Spirits Nepal Pvt Ltd to existing shareholder Rajesh Bir Singh Tuladhar. As per the share purchase agreement documents submitted at DoI, per unit price has been set at Rs 5,042. Tuladhar is paying Rs 341.4 million for 67,716 units of shares held by United Spirits Nepal. He alread...


Nepse ends week 8.19 pts higher
Source: Business News

Nepse ends week 8.19 pts higher

Weekly transaction at Nepal Stock Exchange (Nepse) fell 21.4 percent as the market headed towards stability after massive fluctuations in previous weeks. Last week, the market recorded a turnover of Rs3.45 billion. The figure had hit as high has Rs9.54 billion four weeks ago when the benchmark index jumped to its all-time high of 1,877.93 points. However, a planned probe by the Securities Bo...


Nepse to operate trade guarantee fund, start auction trading

The Nepal Stock Exchange (Nepse) has forwarded its draft on securities-listing bylaws, trade-guarantee fund bylaws and auction-trading working procedure to the Securities Board of Nepal (Sebon) for approval. While the securities-listing bylaws is an updated version of an earlier one, the other two are new and aim to ease the clearing and settlement process even when there is a shortfall of cash...


NEA starts cuting power supply to defaulters
Source: RSS
NEA

NEA starts cuting power supply to defaulters

Nepal Electricity Authority (NEA) has started to disconnect power supply to defaulters. Energy Minister Janardan Sharma has directed the NEA to cut electricity supply to 10 defaulting customers. NEAs Ratnapark Distribution Centre on Sunday disconnected the supply to three customers, including Mahendra Manjil, the residence of former Queen Mother Ranta Rajya Laxmi Shah. We disconnected the po...


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