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Category: BUSINESS

Handicrafts worth Rs 4.80 billion exported

KATHMANDU:  Handicrafts worth Rs 4.80 billion have been exported from the country in the fiscal year 2016/17. Different handicrafts manufactured from bamboo, Dhaka, crystal, leather, paintings, papers, silver ornaments were exported to foreign countries during the period. According to Federation of Handicraft Association of Nepal, the highest amount of handicrafts was exported to the US. Handicrafts […]

Tamakoshi 3 hydro project stuck in limbo

KATHMANDU:  The Investment Board Nepal’s (IBN) plan to initiate global bidding process to develop the much-awaited Tamakoshi 3 Hydropower Project is in limbo, as the government has failed to approve the project’s implementation modality. The IBN had proposed to develop the 650MW hydropower project under public private partnership (PPP) model with a mix of domestic […]

Govt to be tough against responsible for delayed projects

KATHMANDU:  Urban Development Minister Prabhu Saha has said a contract for the development project which was awarded some 13 years ago is yet to be implemented. Taking part in a face-to-face programme organised by Reporters’ Club here Saturday, the Minister warned those failing to fulfill the given responsibilities to face action. “The government will appear […]

Yeti airlines introduces two ATR aircrafts

KATHMANDU:  Nepali private carrier Yeti Airlines has introduced two ATR 72-500 turboprops. The 72-seater aircraft, the most fuel efficient carrier, was brought at the cost of Rs 1 billion Manufactured in France by ATR (aircraft manufacturer) and purchased from Nordic Aviation Capital based in Singapore, the airplanes landed at Tribhuvan International Airport on Saturday through […]

Bankers anxious about source for Rs 700bn deposit

KATHMANDU:  Bankers are anxious about the sources of deposit collection to expand credit in this fiscal. Banks and financial institutions (BFIs) have to collect deposits worth around Rs 700 billion in this fiscal to expand their credit portfolio as desired by Nepal Rastra Bank (NRB). The NRB has set a target of 20 per cent […]

Domestic airlines capitalise on Narayangadh-Muglin road obstruction

KATHMANDU:  Domestic airline operators have increased the number of daily flights from Kathmandu to other destinations including Bharatpur of Chitwan, Simara of Bara and Bhairahawa of Rupandehi as the Narayangadh-Muglin road gets frequently obstructed due to landslides and ongoing renovation works. As the traffic have been barred from the crucial road connecting the capital city […]

Nepal attracts Rs 15.17 billion in foreign investment in FY 2016\17

KATHMANDU:  Foreign investment worth Rs 15.17 billion has entered industry sector of the country in the fiscal year 2016\17, according to the Department of Industry (DoI). A total of 395 industries (small-scale 370, 16 medium and nine big) received the investment. Of the investment amount, Rs 6.22 billion had gone to big industries, Rs 1.17 […]

Birgunj Custom Office hits the target

BIRGUNJ:  Birgunj Custom Office, which is also known as the gateway to Nepal, has hit the set target of revenue collection. With the end of the fiscal year 2073/74 BS, Birgunj Custom Office has collected Rs 108 billion. In the last fiscal year 2072/73, it could not achieve the target due to the blockade imposed […]

Liquor companies, breweries given highest tax exemption

KATHMANDU:  Five alcoholic beverage companies received the largest chunk of tax exemption from the Tax Settlement Commission (TSC), according to the charge-sheet of the Commission for Investigation of Abuse of Authority (CIAA) filed on Sunday at the Special Court against three TSC members. The anti-graft body on Sunday filed a Rs 10.2-billion graft case each […]