Remittances increased by 24.3 percent in the last six months

Kathmandu: Remittance inflows increased 24.3 percent to Rs.585.08 billion in the review period against a decrease of 5.0 percent in the same period of the previous year. According to the Nepal Rastra Bank (NRB) number of Nepali workers (institutional and individual-new) taking approval for foreign employment increased 64.6 percent to 275,643 in the review period.… Continue reading Remittances increased by 24.3 percent in the last six months

First Governor of NRB Himalaya Shamsher JBR passes away

Kathmandu: Himalaya Shamsher JBR, the first governor of Nepal Rastra Bank (NRB), has passed away. 95-year-old JBR died in the morning during treatment at Norvic Hospital in Kathmandu. JBR was the first governor and former finance secretary of Nepal. He was also the founder of Himalayan Bank. After passing matriculation in 14 years, he became… Continue reading First Governor of NRB Himalaya Shamsher JBR passes away

Restaurants demands to levy service charge

Kathmandu: The Central United Trade Union Struggle Committee of restaurant owners has announced seven-day protest against the decision of the supreme court over service charge. They have demanded to restore 10 percent service charge. On Wednesday, the trade unions working in hotels and restaurants held a protest in Kathmandu and announced a phased wise seven-day… Continue reading Restaurants demands to levy service charge

Public debt of Nepalis reduced: NRB

Kathmandu: Nepal’s public debt has fallen to 2,007 billion rupees, Nepal Rastra Bank (NRB) stated. According to the report published by the Ministry of Finance, the public debt of Nepal, both internal and external, has decreased to 2007 billion rupees by the end of mid-December. Meanwhile, by the mid-July, the public debt was 2,013 billion… Continue reading Public debt of Nepalis reduced: NRB

Supreme court overturn decision of 10 pc service tax charged by hotels and restaurants

Kathmandu: The Supreme Court has decided that hotels and restaurants cannot levy service charge to customers. Hotels and restaurants have been charging an additional 10 percent service fee from customers based on the provisions of Section 87 (3) of the Labor Act 2074 BS and Rule 82 of the Labor Code 2075 BS. But the… Continue reading Supreme court overturn decision of 10 pc service tax charged by hotels and restaurants

Five Indians arrested for organizing Dubai property show illegally in Nepal

Kathmandu: Five Indians have been arrested for the two-day Dubai Property Show at Soaltee Hotel. After reaching the hotel, the police seized their passports and arrested them on suspicion of absconding. Contrary to the warning of Nepal Rastra Bank, Dubai’s real estate company named ‘DAMAC’ illegally organized the Dubai Property Show in Kathmandu. The police… Continue reading Five Indians arrested for organizing Dubai property show illegally in Nepal