Aviation industry lost Rs 17 bn due to covid-19 pandemic

Aircraft of Nepal Airlines Corporation parked at Tribhuvan International Airport.

Kathmandu: Nepal’s aviation industry has lost more than Rs 17 billion in revenue due to the covid-19 pandemic. According to the data made public by the Civil Aviation Authority of Nepal (CAAN), the biggest impact of the Covid 19 has been on the national flag carrier Nepal Airlines. The Nepal Airlines Corporation has lost about… Continue reading Aviation industry lost Rs 17 bn due to covid-19 pandemic

U.S. gasoline prices reach 9-month high as refiners cut more output

FILE PHOTO: A Chevron gas station is seen in Cardiff, California January 25, 2016. Photo Courtesy: Reuters

NEW YORK (Reuters): U.S. gasoline prices hit a nine-month peak as drivers took to the roads on holiday travel, crude oil prices kept climbing and refiners further cut fuel production due to weak margins. Prices at the pump topped $2.25 a gallon this week, according to the American Automobile Association, the highest since March when… Continue reading U.S. gasoline prices reach 9-month high as refiners cut more output

Chinese border restriction makes Nepali market expensive

Kathmandu: Inflation has risen in Nepal as the northern border with China has been closed. Prices of fruits, clothes and other machinery have skyrocketed. China has long closed the border, citing the risk of the corona virus. This checkpoint, which is rarely open for fetching health supplies, has occasionally been flooded with other supplies. But… Continue reading Chinese border restriction makes Nepali market expensive

Nepal Rastra Bank to promote digital transaction

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

Big tech bets and cryptocurrencies power 2020’s top U.S. funds

FILE PHOTO: Representations of the Ethereum virtual currency standing on the PC motherboard are seen in this illustration picture, February 3, 2018. Photo Courtesy: Reuters

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

A colleague wears a Christmas hat as European Union chief negotiator Michel Barnier, center, carries a binder of the Brexit trade deal during a special meeting of Coreper, at the European Council building in Brussels, Friday, Dec. 25, 2020. European Union ambassadors convened on Christmas Day to start an assessment of the massive free-trade deal the EU struck with Britain. After the deal was announced on Thursday, EU nations already showed support for the outcome and it was expected that they would unanimously back the agreement, a prerequisite for its legal approval. (Olivier Hoslet, Pool via AP)

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

China shows double standard in trade with Nepal: NCC

File Photo of Nepal Chamber of Commerce President Rajesh Kaji Shrestha

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

FILE - In this Thursday, Jan. 30, 2020 file photo, a man unfurls a Union and EU flag outside the European Parliament in Brussels. Britain and the European Union have struck a provisional free-trade agreement that should avert New Year chaos for cross-border traders and bring a measure of certainty for businesses after years of Brexit turmoil. Photo Courtesy: AP

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