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Energy ministry at work to achieve 200MW electricity target within this FY

Energy ministry at work to achieve 200MW electricity target within this FY

KATHMANDU:  In a bid to increase internal production and end power-cuts across the country, the government has recently urged all under construction hydropower projects to be completed before the deadline. The advice is as part of the 37 points action plan presented by the Ministry of Energy that includes production of additional 200 megawatts electricity […]

January 24th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Credit expansion rises rapidly despite liquidity crunch

Credit expansion rises rapidly despite liquidity crunch

KATHMANDU:  Since the beginning of the second quarter of this fiscal year commercial banks have increased the interest rate on credit citing the high cost incurred to attract deposits. Subsequently other financial institutions also followed the lead taken by the commercial banks and increased their lending rates. As reported by the banks they were in […]

January 23rd, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

India plans railway circuit to connect with Nepal, Bhutan, B’desh and Myanmar

India plans railway circuit to connect with Nepal, Bhutan, B’desh and Myanmar

KATHMANDU:  India plans to link up with four neighbouring countries — Nepal, Bhutan, Bangladesh and Myanmar — through railways and build a railway circuit in the region, according to Indian media that referred to an announcement made by an Indian minister. “We have neighbouring countries like Bangladesh, Bhutan, Myanmar and Nepal. We have a very […]

January 22nd, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Nepal can earn Rs1 trillion a year by selling power

Nepal can earn Rs1 trillion a year by selling power

KATHMANDU:  Nepal can generate revenue of up to Rs310 billion per year in 2030 and as high as Rs1,069 billion per year in 2045 if the country is able to sell electricity to India by harnessing its hydropower potential. Nepal stands to generates these earnings provided the country starts exporting 13 gigawatts of electricity to […]

January 20th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Nepal tops regional ranking in inclusive development index

Nepal tops regional ranking in inclusive development index

KATHMANDU:  Nepal is not only advancing — in the last five years — in the Inclusive Development Index (IDI) but also ranks first in the South Asian region, a global report published on Tuesday shows. “Under the developing economies category, with overall score of 4.24, Nepal ranks 27th on the IDI, showing remarkable improvement over […]

January 18th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Test transmission of Khimti-Dhalkebar transmission line begins

Test transmission of Khimti-Dhalkebar transmission line begins

KATHMANDU:  Test transmission of Khimti-Dhalkebar transmission line has finally begun with the construction of the transmission line after 11 years of a halt due to various reasons. The construction of the about 73 –kilometres transmission line will facilitate the import of electricity into Kathmandu from India through Dhalkebar-Khimti-Lamosanghu transmission line, said spokesperson for Nepal Electricity […]

January 17th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Country fails to buck low capex trend again

Country fails to buck low capex trend again

KATHMANDU:  If the government’s spending pattern is anything to go by, capital expenditure (capex) will most likely bunch towards the final quarter this fiscal year as well, resulting in construction of sub-standard infrastructure projects. The government’s capital spending hovered around Rs 35 billion in the first six months of the fiscal year, which is only […]

January 15th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Nepal Airlines regains numero uno position

Nepal Airlines regains numero uno position

KATHMANDU:  Nepal Airlines has taken the top spot in international passenger carriage for the first time in years, flying 275,701 travellers during the first nine months of 2016. According to Tribhuvan International Airport (TIA), the national flag carrier bumped Qatar Airways down to second place with a massive 74.63 percent growth in passenger carriage. Nepal […]

January 13th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

Rs666m worth of felt shipped in 5 months

Rs666m worth of felt shipped in 5 months

KATHMANDU:  Exports of felt products jumped 82 percent in the first five months of the current fiscal year on soaring orders particularly from Japan, the US and different European countries. Nepal shipped felt products worth Rs666.7 million between mid-July and mid-December in fiscal 2016-17, according to the latest data provided by the Federation of Handicraft […]

January 12th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

19 firms show interest to conduct feasibility study

19 firms show interest to conduct feasibility study

KATHMANDU:  Nineteen firms have showed interest to conduct feasibility study for Kathmandu-Birgunj Electrical Railway Project. Companies from China, India and South Korea as well as some European countries submitted their bids by Monday evening – the deadline for submission of bids, responding to a global tender invited by the Department of Railways (DoR). “Nineteen companies […]

January 10th, 2017 | Posted in BUSINESS, LATEST NEWS | Read More »

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