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Category: Finance

Sahja Yatayat to operate buses on Suryabinayak – Swoyambhu route

24 May, Kathmandu: The state-owned public transportation utility, Sajha Yatayat, has now spread its web network to Suryabinayak in the Bhaktapur district. The public transportation system– which is already operating services in Kathmandu, Lalitpur and some routes outside the valley – will start operating on the Suryabinayak – Swoyambhu route from today, said Acting CEO, Mahendra Raj Pandey. The bus will operate services in the route from 6 am to 9 pm. A total of 10 buses bound for Suryabinayak will leave Swoyambhu starting at 6 am every day and 10 other buses will leave Suryabinayak for Swoyambhu at...

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Muglin road section again remains closed for six hours from today

18 May, Ratnanagar (Chitwan): The Muglin-Narayangarh Road Project is resuming its construction works from today by stopping vehicular operation in the road stretch for six hours every day. The Project that put road construction works on hold for 10 days in view of the May 14 local level elections has started its regular business from today. According to Project Engineer Shiva Khanal, the Muglin-Narayangarch road section would remain closed for vehicles from 10.00 am to 4.00 pm from today until its completion. He shared that only 47 % of the targeted works have been so far completed on the...

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Locals gift land of millions of rupees for municipality building

16 May, Gaushala: Ten individuals of Bardibas, Mahottarai have donated two kattha 10 dhur of land jointly for the purpose of constructing a new building of the Bardibas Municipality. The market value of the land plot gifted by the locals to construct a new Municipality office building is Rs 505 million. Those generous people are Bhawanath Pokhrel, Ramesh Kumar, Binod Bhandari, Gopi Pokhrel, Ramji Mahato, Arjun Singh Thakuri, Shekhar Kapil Hamal and Lal Bahadur Hamal among others. The Municipality honoured them for their contribution to the Municipality, according to Municipality information officer Narayan Singh Thakuri....

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Depleting water sources forces watermills out of business

15 May, Beni (Myagdi): The watermills operating in Myagdi’s rural hinterlands in the form of a cottage industry are being forced out of business. At least 25 water mills in Marang, Bim, Muna, Barangja and Rumal among other villages have shut down due to depleting water sources. This has directly affected 25 families dependent on the water mills. “If the climate change continues for some more years like this and drought conditions persist, the watermill business may likely be displaced,” Dil Bahadur Srish said. The mills thresh paddy, bucket wheat, maize and finger millet on a daily basis. The...

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Sajha Yatayat not to operate bus election day

12 May, Kathmandu: The Sajha Yatayat has said it would not operate buses on May 14, the day the first-round of local-level election is held. Officiating Chief Executive Officer, Mahendra Raj Pandey, told the National News Agency (RSS) that the Sajha Yatayat, which has been providing transport service to passengers even during strike, is to close its service to make the election a success....

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Country’s economic growth rate reached 7.5 per cent: World Bank

12 May, Kathmandu: The World Bank (WB) has said that Nepal’s growth has rebounded strongly and has reached 7.5 percent in the fiscal year 2017. This is the highest economic growth rate in the country since 1994. The World Bank has said that the best monsoons in recent years; increased availability of electricity; and greater investment as the earthquake reconstruction gathered speed are behind such progress. In a press statement the WB said, “About half a million households, eligible to receive housing reconstruction grants, have received the first of three tranches. Second tranche payments have started and are expected...

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Toyota logs first annual profit fall in five years

10 May, Tokyo: Toyota on Wednesday reported its first drop in annual net profit for five years, while it unexpectedly warned that earnings would fall again owing to pricey US customer incentives and a forecast pick up in the yen. The company’s top executive also repeated concerns that it was getting harder for Japan’s biggest automaker to keep profits buoyant as sales top out around 10 million vehicles annually. The downbeat prediction underscores how the country’s automakers have relied heavily on a slump in the yen in recent years. But the currency’s sharp gains in 2016 — largely driven...

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Muglin-Narayangadh road to be opened for 24 hours for election

5 May, Ratnanaar (Chitwan): Vehicles will be allowed to ply along the Muglin–Narayangadh road section round-the-clock from May 8 to 17 in view of the first phase local-level election scheduled for May 14. The Muglin-Narangadh Road Project said the section will remain open for 24 hours for 10 days in view of the May 14 elections. Presently, the 34-KM route is closed for six hours in a day (from 10:00 am to 16:00 pm) as road-widening efforts are undertaken here. The route is to be opened round-the-clock a few days before and after the after the election for the...

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‘Improving life standard of 330 m people of Asia ADB’s major goal’

Sharachchandra Bhandary 4 May, Yokohama (Japan): Asian Development Bank (ADB) President Takehiko Nakao has said to improve the living standard of 330 million people of Asia living under the absolute poverty line is the major goal and objective of ADB. During his talks with over 400 journalists looking after the economic beat gathered in an International Convention Venue based at Yokohama to collect news about the golden jubilee celebrations of the ADB, Mr Nakao said to build a prosperous Asia through collective efforts was the ADB goal. Stating that Asia needs 170 billion dollar annually to develop transport, communications...

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Police chase down youth fleeing with stolen cash

3 May, Parsa: In a dramatic event, police chased down an Indian youth running away with Rs 400,000 snatched from a person returning from a bank here on Tuesday. Police arrested 20 – year – old Amir Gawala of Rajgunj Gram Panchayat Ashrampur village of Jalpaithan, Bihar, India. On duty officers made the interception while Amir was on the run after grabbing the bundles of money withdrawn from the Citizen Bank at Adarshanagar Chowk, Birgunj. Gawala snatched the money withdrawn by Jata Shanker Sah of Dharmanagr, Kalaiya Sub Metropolis – 16, Bara before running away. The police apprehended Amir...

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