Monthly Archives: November 2013

Nepal to raise LDCs’ issues seriously: Koirala

Nepal will raise the development issues of Least Developed Countries (LDCs) seriously in the global trade regime’s meeting, said commerce and supplies minister Shankar Prasad Koirala before flying to Bali to take part in the ninth Ministerial Conference of  World

Recurrent, capital expenditure satisfactory: Finance Minister

The recurrent expenditure and capital expenditure are satisfactory by the end of fifth month of the current fiscal year, according to the finance minister Shankar Prasad Koirala. Addressing the 16th anniversary of Society of Economic Journalists-Nepal (Sejon) here today, he

Government spent Rs 12 billion for second CA election

The government has spent Rs 12 billion for the second Constitution Assembly (CA) election held on November 19, according to the preliminary estimation. “The security agencies have spent Rs 6.5 billion, whereas Election Commission (EC) spent Rs 5.5 billion making it

NIC Asia Bank bags ‘Bank of the Year-Nepal 2013’ award

NIC Asia Bank has received the prestigious ‘Bank of the Year 2013- Nepal’ award from The Banker -Financial Times Publication, London. Director of the bank Lokmanya Golchha and chief executive Sashin Joshi received the Award trophy and Certificate of Merit at the

Government has no record of its own property across the country

Not much surprising, the government does not have proper records of its own property across the country. “The government offices have been operating from the rented houses, despite its property across the country,” complained the higher government officers during the

TeliaSonera sacks chief financial officer after Eurasia review

TeliaSonera has fired its chief financial officer and three other top executives following an independent review of its activities in Eurasia. Chief financial officer Per-Arne Blomquist will leave his position immediately and be replaced by Christian Luiga, currently Head of

US supports improvement of TIA Rescue Station

The US government, in partnership with the Civil Aviation Authority of Nepal (CAAN), will provide assistance worth $462,000 to retrofit the Tribhuvan International Airport (TIA) Crash, Fire and Rescue Station to make it more resistant to earthquakes. Earlier, the Office

Experts urge to focus on agriculture, trade facilitation, development issues in Bali meet

Experts today stressed on three major issues as Nepal’s key focus – during the ninth Ministerial Conference of  World Trade Organisation (WTO) – as it relates to trade and development aspects of Least Developed Countries (LDCs). Speaking at ‘Stakeholders’ dialogue

Nepal, China sign loan agreement to procure six aircraft for national flag carrier

The government is finally procuring two and purchasing four – a total of six aircraft from China – for the national flag carrier’s domestic flights. Finance secretary Shanta Raj Subedi and Chinese ambassador to Nepal Wu Chuntai signed two agreements

CAN Info-Tech from January 2

The 20th edition of CAN Info-Tech is going to be held on January 2-7 in Kathmandu. The annual Information, Communication and Technology (ICT) gala organised by CAN also is going to hold ICT Conference on January 5-6. The conference under

It takes 40 days to complete export/import procedure in Nepal: UN ESCAP report

Lengthy administrative process has not only increased trade deficit but also slow downed foreign direct investment (FDI) inflow to Nepal, according to a report published by UN ESCAP. ” Nepal takes around an average of 40 days for export and

Case filed against CIAA move

A case has been filed against the anti-graft body today claiming that interference in the private banks and financial institutions does not fall under Commission for Investigation of Abuse of Authority (CIAA) jurisdiction. An advocate Arjun Kumar Aryal has filed

Nepal betters in internet download speed: Ookla

The internet infrastructure seems to be improving in the country with the increasing penetration rate. The average download speed in Nepal was 5.06Mbps ranking the country at 117th position – among the 186 countries – whereas India has 4.18Mbps with

Excess liquidity with banks to fuel inflation, speculation in stock market

Excess liquidity in the banks and financial institutions is going to push the inflation, and also the stock market speculation, up. The 91-day Treasury Bills (TB) weighted average interest rates has dropped to bottom low of 0.0164 per cent yesterday

Gold price drops by Rs 2,100 to Rs 53502 per tola in a week

Wedding bell might be more soothing for those who are planning to marry as the gold price has started looking down in the marriage season. The precious yellow metal price dropped by Rs 2,100 per tola (11.664 gram) in a

Nepal bags best decorated international stall award in IITM

Nepal bagged best decorated stand in the International category at the India International Travel Mart (IITM) organised in Maharashtra of India on November 22-24. Highlighting Nepal as an abode of Lord Shiva, home of Mt Everest and birthplace of Lord

Dashain pushes market price up; meat, fish and dining at restaurent dearer

The festive season pushed the market price up in mid-October as according to central bank data, the year-on-year inflation in the first quarter of the current fiscal year has increased to 8.4 per cent against eight per cent a month

Trade deficit stands at Rs 128.79 billion

Trade deficit has increased by 11.3 per cent – compared to the same quarter of the last fiscal year – to Rs 128.79 billion in the first quarter of the current fiscal year 2013-14, according to the central bank report.