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
Category: Finance
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
Industry ministry seek support from Home Ministry to recover due payment of farmers
Kathmandu: The Ministry of Industry, Commerce and Supplies has written to the Ministry of Home Affairs to find the industrialists who have not paid the due payments of sugarcane farmers. The industry ministry has sought the help of the Home Ministry to find the industrialists who did not submit the details of the amount paid… Continue reading Industry ministry seek support from Home Ministry to recover due payment of farmers
Macau’s gambling revenues dive 72.5 pc in Oct
HONG KONG (Reuters): Gambling revenue in Macau plunged 72.5 percent in October year-on-year, extending the steep coronavirus-driven declines of recent months but at a slower pace as visitors to the world’s biggest casino hub from mainland China picked up slightly.October’s figure of 7.3 billion patacas ($914 million) released by Macau’s government on Sunday, was in… Continue reading Macau’s gambling revenues dive 72.5 pc in Oct
Mobile business booms during pandemic
Kathmandu: Imports of mobile phones have increased during the global spread of the corona virus. Covid-19 has led to an increase in the use of virtual media, including teaching and learning, company meetings, and the uses of mobile phones.According to the statistics of the Department of Customs, mobile phones worth Rs. 11.10 billion have been… Continue reading Mobile business booms during pandemic
World Bank approves $80 Million to boost Nepal’s agriculture sector
Washington: The World Bank has approved a $80 million project today to bolster Nepal’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery.According to a press statement issued by the World Bank, the Rural Enterprise and Economic Development (REED) Project will promote market linkages to support the… Continue reading World Bank approves $80 Million to boost Nepal’s agriculture sector