Category: Finance

Kathmandu – The World Gold Council, also known as the WGC, has forecasted a notable surge in global gold demand by 3% in the year 2023, reaching a total of 4,899 tons. According to the publicized data, the central banks around the world are expected to account for 1,137 tons of gold demand in 2023,… Continue reading World Gold Council predicts a 3% increase in global gold demand in 2023

Kathmandu: In a high-level discussion at the Prime Minister’s office in Singhadarbar, Prime Minister Pushpa Kamal Dahal Prachanda explored the possibility of reopening the Hetauda Textile Industry in collaboration with the Nepali Army. This discussion follows the recent focus on reviving the textile industry in Hetauda, which has remained closed since 2032 B.S. The Nepali… Continue reading PM Dahal discusses reopening of Hetauda Textile Industry with Nepali Army

Kathmandu: The Supreme Court of Nepal has upheld its previous verdict, ordering Bhatbhateni Supermarket, accused of using fake VAT bills, to pay more than Rs 1.6 billion to the government. The decision confirms that Bhatbhateni conducted business using counterfeit VAT bills, affirming the tax evasion allegations. After an initial tax assessment by the Inland Revenue… Continue reading Supreme Court orders Bhatbhateni Supermarket to pay over Rs 1.6 billion for tax evasion

Kathmandu: The Nepal International Tourism Fair is going to be held with the aim of publicizing the tourist destinations of Nepal at the international level. The fair is going to be organized on coming May 31 to June 1 to promote the tourism sector of Nepal globally, said Bishnu Pandey of Summit Event and Market… Continue reading ‘Nepal International Tourism Fair’ set to showcase global tourism potential

Kathmandu: In a bid to revive stagnant industries, the government, led by Prime Minister Pushpa Kamal Dahal, has set the stage for the re-operation of four long-closed establishments. The Prime Minister engaged in discussions with the Ministry of Industry, Commerce, and Supplies to explore options for reviving Biratnagar Jute Mills, Hetauda Textile Industry, Gorakhkali Rubber… Continue reading Govt plans revival of closed industries for economic growth

Kathmandu: In a recent discussion program organized by the Advertisement Board on the ‘Role of Artists in Advertising,’ Chairman Laxman Humagain revealed that foreign artists are now prohibited from being featured in billboards displayed in public spaces and advertisements circulated in the media. Chairman Humagain highlighted the regulatory framework established after the enactment of the… Continue reading New regulations prohibit use of foreign artists in public advertisements

Kathmandu: On Sunday, the Commission for the Investigation of Abuse of Authority (CIAA) took a significant step in the fight against corruption by filing a case at the Special Court in Kathmandu. The case targets individuals involved in both the solicitation and incitement of bribes within the Department of Passports. The primary defendant in the… Continue reading CIAA files corruption case against passport department official

Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has urged Non-resident Nepalis (NRNs) in Qatar to consider investing in various sectors in Nepal. Addressing the conference of ‘Nepal Business Association Qatar’ in Doha, Dhakal emphasized Nepal’s potential in tourism, infrastructure development, renewable energy, and agriculture. President Dhakal… Continue reading FNCCI President urges NRNs in Qatar to invest in various sectors in Nepal

Kathmandu: Nepal Rastra Bank (NRB) has initiated disciplinary actions against six banks and financial institutions for violations of mandatory regulations. The penalized institutions include Global IME Bank, Prabhu Bank, Himalayan Bank, Muktinath Development Bank, Garima Development Bank, and Reliance Finance. Global IME Bank has been directed to refund customers for allegedly charging premiums exceeding limits… Continue reading NRB disciplinary measures against six BFIs

Kathmandu: In a recent Cabinet meeting, the government has constituted a committee to delve into the requirement for a potential new stock exchange in Nepal. Chaired by former deputy governor of Nepal Rastra Bank (NRB), Chintamani Siwakoti, the study committee includes members with expertise in chartered accountancy and legal practice, although specific names have not… Continue reading Government forms committee to assess the necessity of establishing a new stock exchange