Category: Business

Two new paragliding zones added near Kathmandu Valley

Kathmandu, January 18 As the attraction for adventure tourism in the country has seen a steady rise in recent times, the number of adventure activities has also been increasing. One of the most popular adventure activities in the country is paragliding. Paragliding is especially famous in Pokhara. However, in recent years the private sector is pouring investment in paragliding service in Kathmandu Valley as well….

Secondary market enters ‘markup phase’

Kathmandu, January 18 With the secondary market’s shift from ‘accumulation phase’ to ‘markup phase’, the Nepal Stock Exchange (Nepse) index surged by eight per cent or 97.12 points past the psychological threshold of 1,300 points after nearly eight months in the trading week between January 12 and 17. ‘Accumulation phase’ occurs after the market has bottomed and the investors and early adopters begin to buy,…

Gold declines, silver stays steady

Kathmandu, January 18 The price of gold declined while that of silver remained steady in the domestic market during the trading week between January 12 and 17. According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold was traded at Rs 75,000 per tola on Sunday and declined by Rs 200 per tola on Monday to be traded at Rs 74,800 a…

Govt seeks proposal from Zurich Airport to develop Nijgadh project

File: A design prepared for Nijgadh airport Kathmandu, January 17 The Investment Board Nepal has called the Zurich Airport International AG in Switzerland to submit a proposal for the development of Nijgadh International Airport project. Earlier, the government body had shortlisted the Swiss company as a potential developer for the project. The board on Friday issued a public notice telling the company to submit the…

New ADB president assumes office

Kathmandu, January 17 Masatsugu Asakawa assumed office as the 10th president of the Asian Development Bank (ADB) today. In a media release issued today, Asakawa has said he will strive to ensure ADB remains the preferred choice of its clients and partners.   Asakawa succeeds Takehiko Nakao, who stepped down on January 16. In a career spanning close to four decades, Asakawa has held a…

IBN asks Zürich Airport to submit NIA proposal

Kathmandu, January 17 The Investment Board Nepal (IBN) has asked Switzerland-based Zürich Airport International AG to submit a proposal for the construction and operation of Nijgadh International Airport. Issuing a notice today the IBN has asked the shortlisted company to submit the proposal within 45 days from the date of publication of the notice. As the government has decided to build and operate NIA as…

Toshiba finds doubtful transactions in unit, to revise past statements

TOKYO: Toshiba Corp said on Saturday it “could not confirm existence” of transactions worth some 20 billion yen ($181.59 million) at one of its subsidiaries in the first half of this fiscal year, prompting it to revise past financial statements. The irregularities, which occurred over multiple years, were uncovered at Toshiba IT-Services Corporation, a wholly-owned subsidiary, as a result of an internal probe launched at…

Government formally asks Delhi to resume palm oil import from Nepal

Kathmandu, January 17 A week after India stopped importing refined palm oil from Nepal, the country’s top export item, the government has formally asked the southern neighbour to allow Nepali traders to export the commodity in the Indian market. Citing that the ban imposed on import of palm oil is against Nepal-India trade relations and does not align with the spirit of bilateral trade treaties…

IMF projects economic growth at 6pc

Slower growth of Indian economy, sluggish remittances, and weaker agro production to keep growth moderate Kathmandu, 17 An International Monetary Fund (IMF) mission, which recently concluded its discussions for 2020 Article IV consultation in Nepal, has projected economic growth of six per cent in the ongoing fiscal year. The IMF mission led by Laura Jaramillo concluded that though Nepal’s economy, supported by greater political stability,…

Winter rain affects flights

Kathmandu, January 17 Winter rain today affected several domestic and international flights being operated from and to Tribhuvan International Airport (TIA). Moreover, hilly and mountainous regions were hit by heavy snowfall, which worsened the situation, largely affecting flight schedules across the country. As per TIA, several domestic flights were delayed or cancelled and a couple of international flights were diverted. According to TIA, two flights…