NRB has made a new arrangement to stop the auction of collateral of Covid affected business

Kathmandu: Nepal Rastra Bank has made an arrangement that if the interest payment is not due for more than six months, the collateral of the debtor will not be auctioned. The Nepal Rastra Bank (NRB) has made a policy provision that no collateral will be auctioned if the interest is not due for more than… Continue reading NRB has made a new arrangement to stop the auction of collateral of Covid affected business

Black Friday offers beacon of hope to struggling stores

A shopper walks by a store, Monday, Nov. 18, 2020 in Pembroke Pines, Fla. After months of slumping sales and businesses toppling into bankruptcy, Black Friday is offering a small beacon of hope. In normal times, Black Friday is the busiest shopping day of the year, drawing millions of shoppers eager to get started on their holiday spending. But these are not normal times. Photo Courtesy: AP

NEW YORK (AP): After months of slumping sales and businesses toppling into bankruptcy, Black Friday is offering a small beacon of hope. In normal times, Black Friday is the busiest shopping day of the year, drawing millions of shoppers eager to get started on their holiday spending. But these are not normal times: The economy… Continue reading Black Friday offers beacon of hope to struggling stores

Unchanged from early estimate, US economy grew 33.1 pc in Q3

A shopper in a face mask looks over cuts of beef piled up in a cold room for purchase at a Costco warehouse store Tuesday, May 5, 2020, in west Denver. The U.S. economy rebounded at an even-stronger pace in the July-September quarter than first reported but a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some analysts even raising the specter of a double-dip recession. Photo Courtesy: AP

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

US jobless claims up for 2nd straight week as virus worsens

Envelopes from the Florida Department of Economic Opportunity Reemployment Assistance Program are shown, Thursday, Nov. 5, 2020, in Surfside, Fla. The number of a Americans applying for unemployment benefits rose last 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. Photo Courtesy: AP

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

Airlines set to lose $157 billion amid worsening slump – IATA

FILE PHOTO: An airplane from Turkish Airlines prepares to land at Cointrin airport in Geneva, Switzerland December 5, 2017. Photo courtesy: Reuters

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

Dollar dips as risk appetite improve

Photo Courtesy: Reuters

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

Local govt to honor the best entrepreneurs of their respective areas

Photo Courtesy: Rastriya Samachar Samiti

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

Expansion of tax range and leakage control necessary to increase revenue: Finance Minister

File Photo Finance Minister Bishnu Prasad Poudel addressing 9th National Tax day on November 22. Photo Courtesy: Ministry of Finance

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

Southwest deploys team to bring 737 MAX jets out of desert

FILE PHOTO Grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. Photo Courtesy: Reuters

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

Yuan holds near 29-month high as dollar stays under pressure

Photo Courtesy: Reuters

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