Kathmandu: Governor of Nepal Rastra Bank (NRB) Maha Prasad Adhikari has said that the obligation to carry cash to buy vegetables will be removed very soon.Addressing the general assembly of the Nepal Bankers Association, an association of CEOs of commercial banks, Governor Adhikari announced to remove the obligation of carrying cash by encouraging cashless transactions.… Continue reading Nepal Rastra Bank to promote digital transaction
Category: Finance
Big tech bets and cryptocurrencies power 2020’s top U.S. funds
NEW YORK (Reuters): Outsized bets on large U.S. technology companies and emerging cryptocurrencies fueled the year’s top-performing U.S. mutual fund and exchange-traded funds as the coronavirus pandemic upended global markets, while funds that bet on oil and gas companies fell nearly 100%, according to data from fund-tracker Morningstar. The year was a challenge like few… Continue reading Big tech bets and cryptocurrencies power 2020’s top U.S. funds
No time to rest: EU nations assess Brexit trade deal with UK
BRUSSELS (AP): The fast-track ratification of the post-Brexit trade deal between the U.K. and the European Union got underway on Christmas Day as ambassadors from the bloc’s 27 nations started assessing the accord that takes effect in a week. At Friday’s exceptional meeting, the ambassadors were briefed about the details of the draft treaty, which… Continue reading No time to rest: EU nations assess Brexit trade deal with UK
Kia became the third best selling car in Nepal
Kathmandu: Korean auto brand Kia has succeeded in climbing to the third position in Nepal. The Kia seltos and another model, the Sonet, have made the Kia the third-best-selling car in Nepal. Kia, which has been in Nepal for more than 20 years, has become the third brand for the first time. The number of… Continue reading Kia became the third best selling car in Nepal
China shows double standard in trade with Nepal: NCC
Kathmandu: The Nepal Chamber of Commerce (NCC) has objected to China’s double standard in trade with Nepal under the pretext of corona. The chamber has complained that the businessmen have to suffer as the checkpoint is said to be open but still closed. Stating that Nepali businessmen have suffered a lot due to ineffective Chinese… Continue reading China shows double standard in trade with Nepal: NCC
UK and EU reach post-Brexit trade agreement
BRUSSELS (AP): Just a week before the deadline, Britain and the European Union struck a tentative free-trade deal Thursday that should avert economic chaos on New Year’s and bring a measure of certainty for businesses after years of Brexit turmoil. The deal, reached after nine tough months of negotiations, would ensure Britain and the 27-nation… Continue reading UK and EU reach post-Brexit trade agreement
Govt asks sugarcane farmer for 21 days to recover their due payment
Kathmandu: The Ministry of Industry, Commerce and Supplies has asked for 21 days to pay the sugarcane farmers. The ministry has requested to postpone the agitation for 21 days as it is in touch with the sugar mills and is collecting data on the payment due to the farmers. However, the farmers, who have been… Continue reading Govt asks sugarcane farmer for 21 days to recover their due payment
Import/export gets momentum
Kathmandu: The market, which has shrunk due to the corona virus epidemic, is slowly gaining momentum. This is also indicated by foreign trade. In the first five months of the current Fiscal Year, a total of Rs. 525.49 billion worth of goods have been imported. Goods worth Rs 50.05 billion have been exported in the… Continue reading Import/export gets momentum
World Bank to provide $80 mn loans to Nepal for agro sector
Kathmandu: The Government of Nepal and the World Bank has signed a $80 million project today to bolster Nepal’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. The Rural Enterprise and Economic Development Project (REED) project was signed by Finance Secretary Sishir Kumar Dhungana on behalf… Continue reading World Bank to provide $80 mn loans to Nepal for agro sector
Nepse dropped by 97 points
Kathmandu: After the government dissolved the House of Representatives, the stock market measure Nepse has come down sharply. The stock market plunged after President Bidhya devi Bhandari presented a proposal by Prime Minister KP Sharma Oli to dissolve the House of Representatives. The index has been fluctuating since the market opened on Sunday. The Nepse… Continue reading Nepse dropped by 97 points