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2013 December | Nepali Economy
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Monthly Archives: December 2013

Tourism minister blames CAAN for Nepal being blacklisted in EU

Tourism Minister Ram Kumar Shrestha blamed the Civil Aviation Authority of Nepal (CAAN) for Nepal being blacklisted by the European Union (EU). “The EU blacklisted Nepal due to weakness of CAAN,” he said addressing the 15th anniversary of the CAAN

Government plans to revive Nepal Drugs

The government plans to revive Nepal Drugs that has been closed since last three years. “The government has decided to restart the closed Nepal Drugs to save the first drugs manufacturer and supply cheap but quality drugs to the people,”

CG|Cement in the market

Chaudhary Group, one of Nepal’s leading business conglomerates, has introduced ‘CG|Cement’ in the market. The company has partnered with renowned cement owners to bring cement of the international standards, said the Chaudhary Group (CG), claiming that the cement meets Nepal

Traders ask Department of Money Laundering Investigation not to discourage investors

The foreign trade association has asked the Department of Money Laundering Investigation not to discourage the investor while taking action against the money laundering. During a meeting with the director general of the department Chudamani Sharma, at his office, today,

After missing AGM deadline two months ago, Rastriya Beema Sansthan starts stock trading at Nepse from today

After failing to hold its 29th annual general meeting (AGM) – two months ago on October 10 – that was supposed to approve Rastriya Beema Sansthan’s (RBS) financial statements of three fiscal years 2003-04, 2004-05, 2005-06, and distribute 39 per

Leather goods and footwear expo concludes

The 10th edition of Leather Goods and Footwear Expo that concluded here today witnessed around 2,200 pairs of footwear being sold during the week, according to Leather Footwear and Goods Manufacturers Association of Nepal. The expo also helped promote ‘Made

State oil monopoly promoting criminalisation, blame gas dealers

Gas traders have blamed the Nepal Oil Corporation (NOC) for promoting criminalisation in the state oil monopoly. “The NOC must leave the Liquefied Petroleum Gas (LPG) to the private sector,” said president of Federation of LPG Dealers Gyaneshwor Aryal, here

Kindle, Chromebook lead Amazon bestsellers

Amazon reported that its own Kindle Fire HD was the best-selling tablet on Amazon.com over the holiday season. ‘Millions’ of people unwrapped Kindles at Christmas, the company said, without giving exact sales figures. The Samsung and Acer Chromebooks and the

Insurance Board finally closes NB Insurance business

NB Insurance that has been in news for failing to comply with the regulatory norms have finally been closed down today, according to the insurance market regulator, Insurance Board. The Nepse-listed insurance company that has sold some 6,867 policy in

Government agencies do not follow government decision

Though the government has decided to use at least 50 per cent domestic products in the government offices, it has not been implemented. “The government had published a list of some 13 domestic products in Nepal Gazette some six months

New landowners increasing in Kathmandu

Despite dust, drinking water scarcity and dogging price hike, Kathmandu still continues to lure more people from across the country in search of their dream. In the current fiscal year 2013-14, the only metropolis of the country has added some

Pokhara to have regional international airport: FM

Since Pokhara’s future depends on tourism, the government is ready to improve infrastructure for the tourism promotion, according to finance minister. Inaugurating the 15th Pokhara Street Festival, in Pokhara today, finance minister Shankar Prasad Koirala said that the budget for

Stock market betters performance on investors’ gain

Riding high on confidence, the investors gained this week too, despite fear of central bank clipping banks and financial institutions’ margin type lending to stabilise the market. The stock market this week witnessed over half a million worth stocks trading

Domestic airport tax will be included in airfare across the country from January 15

While flying from any domestic airports across the country, the passengers do not need to pay airport tax as the domestic airliners will include it in the airfare according to the Civil Aviation Authority of Nepal (CAAN) request to implement

Nepal standard to certify cement

Nepal Standard will certify the cement according to the standard set by the Nepal Bureau of Standard and Meteorology, from now onwards. The 91st meeting of the Nepal Standard Council today under the chairmanship of trade minister Shankar Prasad Koirala,

CIB nabs two auditors

In recent months, the auditors have been in news for all the wrong reasons, as they have been partners in financial crimes. Central Investigation Bureau (CIB) arrested two auditors, who have been involved in auditing Everest Insurance accounts. The CIB

Free parking from today

Most of the parking lots in the Kathmandu Metropolis that have been charging can now no more charge as the Appellate Court has ordered not to charge anymore. Earlier, the Kathmandu Metropolis had tried to make the public parking free but

Cooking gas price to go up by around Rs 400 per cylinder

The cooking gas price is going to increase by Rs 400 per cylinder – to Rs 1,870  from current Rs 1,470 – from January, according to the Nepal Oil Corporation (NOC). After jacking up the price too, the state oil