Tag Archives: Trade

Rs 1.68 billion trade deficit per day

The country is witnessing trade deficit of Rs 1.68 billion per day as export receipt dropped by Rs 3.9 billion, while import bills soared by Rs 45 billion in the eleven months of last fiscal year 2014-15 compared to the

Lower duty to reverse gold smuggling trend

The current trend of gold smuggling from Nepal to India is going to reverse. The budget for the next fiscal year 2015-16 – starting from July 17 – has lowered import duty of gold to stop smuggling from Nepal but

Nepal asks UNESCAP to support post-quake reconstruction

Nepal has asked the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) to help the country in reconstruction efforts in the aftermath of the devastating earthquake on April 25 and minimising the risks of disasters in

ADB creates emergency trade finance facility for Nepal by expanding its Trade Finance Programme

Asian Development Bank (ADB) is expanding its Trade Finance Programme (TFP) in Nepal by an additional $40 million to help banks finance import of much needed goods to support reconstruction and immediate needs in response to the recent earthquake. “The

Prime Minister markets Nepal as an attractive investment destination

Nepal offers an attractive investment regime and ‘unprecedented opportunities for growth and development’ being wedged between India and China, according to Prime Minister Sushil Koirala. Addressing the New Asian-African Strategic Partnership (NAASP) Conference in Jakarta, the Indonesian capital, today, Koirala,

Imported goods unlikely to arrive in time for Dashain

Due to worsening road condition – due to a landslide that cut off the Araniko Highway to Kathmandu before Dashain – traders will have hard time transporting imports from China stuck at Khasa and Tatopani. On Sunday, the road to

Single permit for vehicles across SAARC to be delayed

Free movement with a single permit in the South Asian Association for Regional Cooperation (SAARC) is going to be delayed due to some of the member countries absence in the meeting. South Asian regional block was supposed to finalise draft

Ninth Bhatbhateni outlet opens at Kalanki

Bhatbhateni Supermarket and Departmental Store opened its ninth outlet – the biggest so far – at Kalanki in Kathmandu from today. “Part of our expansion is to make shopping an overall enjoyable experience giving our customers an option to choose

Oldest jute mills pulls its shutter down due to government apathy

Biratnagar Jute Mills – the first industry of the country – has closed after nine months of operations as the government failed to provide subsidy to it. We are forced to close the historical jute mill in Biratnagar after the

Fire engulfs Birgunj customs warehouse

A fire today burnt down Birgunj Custom Office storehouse. The fire caused due to electric short circuit gutted goods worth around Rs 500 millions though there was no human casualties. Police suspected leakage of oil stock helped the fire to

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

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

Experts urge to boost trade in services

Experts suggested the government to take benefits from service trade as it has competitive edge against our neighbours. Addressing an interaction organised by Ministry of Commerce and Supplies, here today, director general of the Federation of Nepalese Chambers of Commerce

Nepali traders ask Chinese envoy to ease visa rules

Nepali traders today asked Chinese ambassador to help ease visa for business people. A delegation of Nepal Foreign Trade Association led (NFTA) by its president Ramesh Gupta met with Chinese ambassador to Nepal Wu Chuntai and asked him to help

Truck, tipper operators warn of nationwide transport strike

Truck and tipper operators today threatened to strike across nation, if the government tries to suppress their peaceful protest programmes. Organising a press meet here in the Valley today they also criticised the government for its suppress, in their own

Finance Ministry says Nepal needs to learn from China

Nepal needs to learn a lot from China’s economic progress, according to a minister. Inaugurating Nepal-China Contemporary Studies Council, here today, finance minister Dr Ram Sharan Mahat said that China achieved notable progress in a short period due to its

Araniko Highway reopens; vehicles start plying

Arniko Highway – after more than three weeks – reopened from today. The only highway that links with the northern neighbour remained disconnected due to the massive landslide at Jure of Mankha VDC in Sindhupalchowk. Around 2.5-km road was swept

Chamber seeks simplification of zero tariff facility with China

Nepal Chamber of Commerce (NCC) today sought simplification of zero tariff facility with China. Addressing an interaction with Chinese ambassador to Nepal Wu Chuntai on bi-lateral economic ties between Nepal and China president of Nepal Chambers of Commerce Rajesh Kazi