Monthly Archives: January 2014

Gold price drops to Rs 54,000 per tola

The precious yellow metal price has dropped by Rs 800 per tola (11.664 gram) in a week to Rs 54,000 this week. The market saw the trading of gold at Rs 54,000 per tola today, from Sunday’s Rs 54,800 per

Minister asks auditors to maintain professional integrity

Finance minister Shankar Prasad Koirala has asked the auditors to maintain professional integrity. Addressing the 17th anniversary of the Institute of Chartered Accountants of Nepal (ICAN), here today, he said that the auditors have a huge responsibility of maintaining financial

EC experts arriving to assess onsite six air carriers safety measures

A six-member European Commission (EC) delegation is arriving Nepal tomorrow to study the documentation system of Civil Aviation Authority of Nepal (CAAN) and look into domestic air carriers’ safety measures. The team will conduct safety assessments of six domestic air

India, Nepal formalise amendment of bilateral transit treaty

It will now be easier for Nepal to export third country import to countries except India through India as Nepal and India formalised an amendment to a bilateral treaty to facilitate traffic in transit for goods of third country origin

Government fails to meet revenue mobilisation, expenditure target

The government has neither been able to spend the capital expenditure that could have propelled the economic growth nor meet the revenue mobilisation target in the six months of the current fiscal year 2013-14. The government fell short of Rs

Embassies ask Nepalis abroad to get machine readable passport

Nepali diplomatic missions abroad have asked Nepali citizens to apply for machine readable passports as soon as possible as the current handwritten passports would not be valid after November 24, 2015. Nepali missions in France and Qatar organising programmes asked

Minister Shrestha inaugurates eastern regional fair

Minister for Culture, Tourism and Civil Aviation Ram Kumar Shrestha asked the local tourism entrepreneurs to come forward to integrate themselves in the mainstream tourism. Addressing the inaugural ceremony of the 3rd Eastern Regional Tourism Fair-2014 at Damak in Jhapa

TeliaSonera raises dividend, sees flat results in 2014

TeliaSonera met its outlook for stable organic sales and a small improvement in the EBITDA margin in 2013 and offered shareholders a 5.3 per cent increase in dividend. The dividend of SEK 3.00 per share is equal to 87 per

Government asked to ban import of inferior quality medicine

Pharmaceuticals entrepreneurs and experts today asked the government and the regulatory agencies to put a stop to free flow of substandard drugs into the country. Urging the government for stricter monitoring, they also called for a regulatory framework to supervise

FNCCI invites Mahathir to take part in Nepal Economic Summit

The visiting Federation of Nepalese Chambers of Commerce and Industry (FNCCI) team – led by federation president Suraj Vaidya – to Malaysia has formally invited former prime minister of Malaysia Dr Mahathir bin Mohamad to take part in Nepal-Economic Summit-2014

Facebook fourth quarter revenues up by 63 per cent on growth in mobile

Facebook reported fourth-quarter sales up by 63 per cent from a year earlier to $1.59 billion. Ad revenue rose by 76 per cent to $2.34 billion, of which 53 per cent came from mobile services, more than double the share

Stress testing mandatory for B, C class financial institutions

The central bank has asked the class B and C financial institutions also to conduct stress testing from this quarter end. Earlier, a year ago, the central bank made it mandatory for the class  A commercial banks to start stress

Procedural approvals cause low intra-subregional trade: Study

Procedural approvals for both importers and exporters to transport pulses from Nepal to Bhutan via India takes at least 23 days, according to a report. “It’s no different for the import or export of carpet between India and Nepal,” said

Technology curbs financial fraud, crime: Experts

Technology has bee able to reduce the amount of fraud, though the number has seen rise, according to the experts. Despite rising number of frauds in recent days, the amount cheated has been less thanks to technology, they said sharing

Central bank to issue another round of reverse repo, to mop up extra surplus liquidity to control double digit inflation

The central bank is planning to issue another round of reverse repo next week to mop up excess liquidity and contain price hike according to Monetary Policy that had targeted to keep inflation under 7.5 per cent. The planned reverse

Turkish Mt Everest Summiteers felicitated in Istanbul

Nepal Tourism Board (NTB) – in co-ordination with Nepali Honorary Consul General Prof Dr F Gunseli Malkoc and Honorary Public Relations Representative in Turkey Baris Malkoc – organised a special programme in Istanbul today to commemorate the ongoing Mt Everest

Smartphone shipments pass one billion units in 2013

The worldwide smartphone market shipped 1.004 billion units last year, up by 38.4 per cent from the 725.3 million units in 2012, according to estimates from IDC. In the fourth quarter of 2013, vendors shipped a total 284.4 million smartphones

Wind, solar and hydro powershould be a good energy mix to tackle current energy crisis

The experts today claimed that up to 10 per cent of the energy mix in Nepal could be covered by wind energy, whereas others claimed 80 per cent could be covered by hydro and 20 per cent by solar. During