Category: Finance

WASHINGTON (AP): The second of three estimates on U.S. growth for the July-September quarter was unchanged at a record pace of 33.1%. But a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the specter of a double-dip recession. While the overall increase in the… Continue reading Unchanged from early estimate, US economy grew 33.1 pc in Q3

WASHINGTON (AP): The number of Americans applying for unemployment benefits rose last week for a second straight week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks. The Labor Department’s report Wednesday said that jobless claims climbed from 748,000 the week… Continue reading US jobless claims up for 2nd straight week as virus worsens

PARIS (Reuters): Airlines are on course to lose a total of $157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to the second wave of coronavirus infections and shutdowns afflicting major markets. The International Air Transport Association (IATA), which in June had forecast $100… Continue reading Airlines set to lose $157 billion amid worsening slump – IATA

NEW YORK (Reuters): The U.S. dollar fell on Tuesday as risk appetite improved after U.S. President Donald Trump accepted the transition to a Joe Biden presidency and on optimsim that COVID-19 vaccines are close to being rolled out. The dollar index pared much of its earlier losses, however, and held above a key technical support.… Continue reading Dollar dips as risk appetite improve

Kathmandu: The government has issued a circular to the local level to honor an industrialist who has done excellent job in their respective areas. The Ministry of Federal Affairs and General Administration has issued a circular to all the local levels to celebrate the sixth industry day at all (753) local levels and to honor… Continue reading Local govt to honor the best entrepreneurs of their respective areas

Kathmandu: Finance Minister Bishnu Prasad Poudel has said that it is necessary to expand the scope of tax collection and control leakage to increase the share of internal revenue in the overall revenue structure. Speaking at the inauguration program of the Inland Revenue Office, Jorpati on the occasion of the Ninth National Tax Day, 2020,… Continue reading Expansion of tax range and leakage control necessary to increase revenue: Finance Minister

CHICAGO (Reuters): Southwest Airlines LUV.N has sent a team of mechanics to Victorville, California to start the long process of bringing its 34 Boeing 737 MAX jets out of their desert hibernation, after the planes’ permission to fly was restored. How passengers will feel about flying in the aircraft is unclear, although Southwest customers’ response… Continue reading Southwest deploys team to bring 737 MAX jets out of desert

SHANGHAI (Reuters): China’s yuan held near a 29-month high against the dollar on Wednesday as the U.S. currency remained under broad pressure and after the centralbank set a stronger midpoint. The yuan finished the local session at its highest since June 26, 2018 on Tuesday, despite dollar buying by major state-owned banks in what some… Continue reading Yuan holds near 29-month high as dollar stays under pressure

Kathmandu: The Government of Nepal and the World Bank signed two separate agreements today that will help strengthen urban governance and the financial sector in Nepal in support of the country’s COVID-19 resilience and recovery efforts. The agreements for the Nepal Urban Governance and Infrastructure Project and the Finance for Growth Development Policy Credit were… Continue reading Govt and World Bank sign financing agreements of Rs 42 billion to support urban development and financial sector

Kathmandu: The government is collecting data on the number of unemployed youths returning from abroad. The cabinet meeting on November 8 had decided to collect the data of the youths who have been forced to return home due to the corona virus infection even though they have gone abroad for foreign employment and study. The… Continue reading Govt collecting data of unemployed youth returning from abroad