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
Category: Finance
U.S. gasoline prices reach 9-month high as refiners cut more output
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
CPN bank accounts to get blocked
Kathmandu: The bank account of the ruling Communist Party of Nepal (CPN) is likely to be blocked. After the internal dispute, only the formal announcement of partition is left to be made. Until the dispute of the CPN is resolved, all the bank accounts will be blocked. According to the Nepal Rastra Bank both the… Continue reading CPN bank accounts to get blocked
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
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
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
Kia became the third best selling car in Nepal
Kathmandu: Korean auto brand Kia has succeeded in climbing to the third position in Nepal. The Kia seltos and another model, the Sonet, have made the Kia the third-best-selling car in Nepal. Kia, which has been in Nepal for more than 20 years, has become the third brand for the first time. The number of… Continue reading Kia became the third best selling car in Nepal
China shows double standard in trade with Nepal: NCC
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
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