Kathmandu: Nepal Oil Corporation has started construction of the country’s second largest petroleum storage house. The Gandaki Provincial Office of the Corporation will be the largest depot after Amalekhgunj, the storage house to be built at Gagangonda, Pokhara. Minister for Industry, Commerce and Supplies Lekhraj Bhatta laid the foundation stone of the depot with a… Continue reading Construction of the country’s second largest petroleum reserve begins in Pokhara
Category: Finance
Workers’ Information Bank to come into operation within a year
Kathmandu: Ministry of Labor, Employment and Social Security is all set to bring the ‘Workers’ Information bank’ into operation within a year, aiming at connecting employers with employees.According to the ministry, through this bank, once can obtain information in an integrated manner about the number of people who can earn labor in agriculture, industry, hotel,… Continue reading Workers’ Information Bank to come into operation within a year
Investment Board approves investment worth Rs. 38.65 billion
Kathmandu: The Investment Board (IBN) has approved investment of Rs. 38.65 billion for three projects. The 45th meeting of the board chaired by Prime Minister KP Sharma Oli, who is also the chairman of the board, approved an investment of Rs 38.65 billion for three hydropower projects. Chief Executive Officer of the Board Sushil Bhatta… Continue reading Investment Board approves investment worth Rs. 38.65 billion
Finance Minister ensure cooperation with private sector
Kathmandu: Some private sector businessmen reached to the Ministry of Finance on Wednesday carrying a bag of problems to meet Finance Minister Bishnu Prasad Poudel. In particular, there were 4/5 officials of the Nepal Chamber of Commerce. Rajesh Kaji Shrestha, who is also the chairman of the Nepal Chamber of Commerce, unwrapped the problem and… Continue reading Finance Minister ensure cooperation with private sector
Committee directs Labor Ministry to investigate Qatar Employment Syndicate
Kathmandu: The Industry, Commerce, Labor and Consumer Affairs Committee of the Parliament has directed the Ministry of Labor, Employment and Social Security to investigate the syndicate of manpower companies in Qatar, an attractive destination country for Nepali workers. A meeting of the committee held on Monday directed the ministry to investigate the matter as a… Continue reading Committee directs Labor Ministry to investigate Qatar Employment Syndicate
While pandemic wrecked some businesses, others did fine
(New York Times): The pandemic has turbocharged profits at some big businesses, like Amazon, which reported a 70 percent increase in earnings in the first nine months of the year. But it has devastated others, like Delta Air Lines, which lost $5.4 billion in just the third quarter. Perhaps most surprising: Some companies that had… Continue reading While pandemic wrecked some businesses, others did fine
Global stock market in wait and watch state as the US presidential results delays
Kathmandu: As the results of the US presidential election are being delayed, stock markets around the world are in wait and watch situation, as reported by international media.The race for the presidency continues between the two candidates, Donald Trump and Joe Biden. The latest figures show former Vice President Joe Biden in favor. The delay… Continue reading Global stock market in wait and watch state as the US presidential results delays
BOK and Himalayan Bank win legal case in China
Kathmandu: Bank of Kathmandu (BOK) and Himalayan Bank will get back Rs 1.40 billion from China Construction Bank due to counter guarantee. The Zhengzhou Intermediate Court in Henan Province has ordered that both banks’ money be returned.According to the Bank of Kathmandu a letter will be sent to China Construction Bank today to return the… Continue reading BOK and Himalayan Bank win legal case in China
Big fees and bragging rights lost: Ant bankers hit by shock IPO suspension
HONG KONG (Reuters) – The eleventh-hour halt to Ant Group’s record $37 billion listing has not only hurt the firm, but also lead bank China International Capital Corporation (CICC), which likely loses out on a hefty payday and a jump in global investment banking rankings. CICC 601995.SS3908.HK had the coveted position of being the only… Continue reading Big fees and bragging rights lost: Ant bankers hit by shock IPO suspension
Covid-19 pandemic causes Rs 40 bn loss in Nepal’s bullion market
Kathmandu: Nepal’s bullion market has lost more than Rs 40 billion due to a seven-month lockdown to control and prevent the global coronavirus (Covid 19).According to the Federation of Nepali Gold and Silver Entrepreneurs, the Nepali market, which consumes 30 kg of gold daily, has suffered a loss of more than Rs 40 billion due… Continue reading Covid-19 pandemic causes Rs 40 bn loss in Nepal’s bullion market