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
Category: Finance
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
Tatopani checkpoint resumes from today
Sindhupalchowk (RSS): The major trade Tatopani checkpoint between Nepal and China has been formally re-opened on Wednesday. The Chinese side had closed the checkpoint on September 6 stating that some Nepali employees had contracted Covid-19 infection after the floods and landslides closed for three months.Lal Bahadur Khatri, chief of the Tatopani customs office, said that… Continue reading Tatopani checkpoint resumes from today
International tea market of Nepal declines by 40 percent
Kathmandu: In the previous years, with the onset of the first flush of tea, traders from the western countries were found teasing the tea plantations in the eastern hilly districts. Especially tea buyers from Germany, USA and other countries used to go to the orchards and factories to demand tea.This time, no tea buyers could… Continue reading International tea market of Nepal declines by 40 percent
Finance Minister Poudel is excited by revenue raised in last three months
Kathmandu (NAN): Finance Minister Bishnu Poudel has said that the policy arrangements need to be corrected to improve the weak state of capital expenditure. Finance Minister Poudel has said that such laws need to be reformed as capital expenditure is weak due to some legal provisions.Talking to News Agency Nepal (NAN), he said that he… Continue reading Finance Minister Poudel is excited by revenue raised in last three months
New record for motorcycle sales in festive season
Kathmandu: Every year, focusing on Dashain, Tihar and Chhath festivals, motorcycle companies used to bring offers to customers who buy motorcycles and scooters. Offers came this year too, but the customer’s desire was different. Dealers like Bajaj, Honda, Yamaha, TVS, Hero, Suzuki, Aprilia, Vespa, KTM, Benelli, Royal Enfield did not offer as many discounts as… Continue reading New record for motorcycle sales in festive season
Remittances increased by 8 percent to Rs 165 billion in two months
Kathmandu: Remittances to Nepal from abroad have increased by eight percent during the first two months of the current fiscal. According to the data released by Nepal Rastra Bank (NRB) remittance inflow was 8.1 percent during the same period of last fiscal year.According to NRB, remittance worth Rs. 165.73 billion has been received till mid-August.… Continue reading Remittances increased by 8 percent to Rs 165 billion in two months