Monthly Archives: August 2014

Chaudhary asks Israelis to invest in Nepali agriculture sector

President of Chaudhary Group Binod Chaudhary pledged Israeli investors to invest in agriculture sector of Nepal. During an interaction with ambassador of Israel Yaron Mayer at Chaudhary Group’s head office in Sanepa today, he also asked Isreal to assist technically

NOC proposes IOC to ‘gift’ petroleum pipeline project

Nepal Oil Corporation (NOC) has asked Indian Oil Corporation (IOC) to construct Amalekhgunj-Raxual petroleum pipeline as a ‘gift project’. The Nepali delegation, in the bilateral talks in New Delhi recently, proposed Indian officials to construct the dream pipeline project and

NT’s CRTB project to come into operation from November

Nepal Telecom is planning to bring the convergent real time billing (CRBT) system from November, though the telecom service provider claims that it is implementing the system phase-wise manner. Delay in completion of CRTB project has affected Nepal Telecom in

FIU goAML to be linked with banks and financial institutions

Financial Information Unit-Nepal (FIU-Nepal) is soon link banks and financial institutions with a new software, according to its international commitment. The FIU-Nepal has installed a new software ‘goAML’ developed by United Nations Office of Drugs and Crime (UNODC), according to

Power Trade Agreement talks to begin on September 3

Energy Ministry has proposed to September 3-5 for power trade agreement (PTA) talks with India. The proposal of the talks that has been planned in New Delhi has already been sent to the Indian side, joint secretary at the ministry

Foreign aid absorption capacity erodes

Compared to domestic resources, the government’s appetite for the foreign aid consumption has eroded in last six years, though it has been working on to bring all forms of aid under red book. The government has been able to consume

Nepal Food Corporation to import 3,400 goats for Dashain

Nepal Food Corporation is going to import 3,400 goats for this year’s Dashain from Surkhet, Banke, Bardiya, Dang, Makwanpur, Siraha and Parsa districts. The public entity every year imports and sells goats during the Dashain. Each year, it sells around

Chief secretary, governor against cash incentive to GMR

Two of the influential members of technical committee on Project Development Agreement (PDA) draft of mega project Upper Karnali still have reservation on the cash incentive. Chief secretary Leela Mani Paudyal and central bank governor Dr Yuba Raj Khatiwada have

Employer flees leaving some 26 Nepalis stranded in Qatar

As an employer conned, some 26 Nepali migrant workers have been stranded in Doha, the capital city of Qatar, since five months. The manager, who was running four companies fled without paying that has left some 26 Nepali migrant workers

Israeli envoy interacts with youth farmers, asks to increase productivity

Nepal should engage more youth to boost agriculture productivity, according to newly appointed ambassador of Israel to Nepal Yaron Mayor. Addressing an orientation programme organised for students, who are heading for Israel for agriculture training today, he said that the

Nepal Telecommunications Authority renews Ncell mobile licence

The government renewed Ncell’s mobile licence – for the first time since the service provider received licence to operate – for the next five years. The board meeting of Nepal Telecommunications Authority has renewed the licence of Ncell mobile as

International airlines hike airfare

International airlines flying into Kathmandu have jacked up airfare before the tourist season. The airlines flying into Kathmandu increased their airfare by almost 50 per cent, according to travel agencies. Though the airlines have encouraging booking of their flights for

Non-performing loans of banks increases

Non-Performing Loans (NPL) commercial banks have increased in the last fiscal year compared to a fiscal year ago. “The average non-performing loans of commercial banks increased to 3.27 per cent to Rs 29.18 billion in the last fiscal year 2013-14,”

Government spent 70 per cent capital budget in last two months

As usual, the government has spent 70 per cent of the capital expenditure in the last two months of the last fiscal year, despite the timely budget. Over the last six fiscal years – from fiscal year 2008-09 to fiscal

SAARC summit to also discuss migration

The 18th South Asian Association for Regional Cooperation (SAARC) summit in Kathmandu is going to discuss migration, of the first time, in the regional forum. Since all the eight countries in the South Asis are facing similar problems  in migration,

Wai Wai noodles to expand its market in middle east

Chaudhary Group is expanding its flagship noodles brand Wai-Wai to middle east. During the meeting with ambassador of Saudi Arabia H Al Harthi at the group’s office here today, president of Chaudhary Group Binod Chaudhary informed that the group is

Cabinet approves ADB local currency bond

The government today approved Asian Development Bank’s (ADB) Nepali rupee bonds worth up to Rs 50 billion to raise funds from the domestic market to finance various development projects including eight hydropower projects. A Cabinet meeting’s decision today has made

Rastriya Banijya Bank to offload cross holding shares through auction from Sunday

Rastriya Banijya Bank is offloading cross holding shares of Nepal Investment Bank and Nepal Aawas Finance partially to small investors, if they are not fully subscribed. The fully-government owned bank has decided to offload its 6,220,066 units of Nepal Investment