Category: Finance

Kathmandu: Finance Minister Bishnu Prasad Poudel has said that it is necessary to expand the scope of tax collection and control leakage to increase the share of internal revenue in the overall revenue structure. Speaking at the inauguration program of the Inland Revenue Office, Jorpati on the occasion of the Ninth National Tax Day, 2020,… Continue reading Expansion of tax range and leakage control necessary to increase revenue: Finance Minister

CHICAGO (Reuters): Southwest Airlines LUV.N has sent a team of mechanics to Victorville, California to start the long process of bringing its 34 Boeing 737 MAX jets out of their desert hibernation, after the planes’ permission to fly was restored. How passengers will feel about flying in the aircraft is unclear, although Southwest customers’ response… Continue reading Southwest deploys team to bring 737 MAX jets out of desert

SHANGHAI (Reuters): China’s yuan held near a 29-month high against the dollar on Wednesday as the U.S. currency remained under broad pressure and after the centralbank set a stronger midpoint. The yuan finished the local session at its highest since June 26, 2018 on Tuesday, despite dollar buying by major state-owned banks in what some… Continue reading Yuan holds near 29-month high as dollar stays under pressure

Kathmandu: The Government of Nepal and the World Bank signed two separate agreements today that will help strengthen urban governance and the financial sector in Nepal in support of the country’s COVID-19 resilience and recovery efforts. The agreements for the Nepal Urban Governance and Infrastructure Project and the Finance for Growth Development Policy Credit were… Continue reading Govt and World Bank sign financing agreements of Rs 42 billion to support urban development and financial sector

Kathmandu: The government is collecting data on the number of unemployed youths returning from abroad. The cabinet meeting on November 8 had decided to collect the data of the youths who have been forced to return home due to the corona virus infection even though they have gone abroad for foreign employment and study. The… Continue reading Govt collecting data of unemployed youth returning from abroad

Kathmandu: Finance Minister Bishnu Poudel has been tough on unnecessary spending cuts as the government has not been able to be frugal even though the economy has slowed down due to Corona. With a view to strengthening the economy and reducing expenditure, the Ministry of Finance has formulated criteria for maintaining austerity in public expenditure.… Continue reading Finance Minister’s ‘action’ on unnecessary spending cut off

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

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

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

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