Category: Finance

NEA withdraws controversial decision on capacity upgradation of Trishuli

12 June, KATHMANDU: Failing to bear the protests from different walks of life, especially from the Trade Unions of the Nepal Electricity Authority (NEA), the NEA Board has decided to withdraw its controversial decision to upgrade the capacity of Upper Trishuli 3 ‘A’. A meeting of the NEA Board held today decided to withdraw the earlier decision, NEA’s Executive Director Rameshwor Yadav said. Officials, media, political parties, former energy and finance ministers and others had slammed the government decision to capacity upgradation of Upper Trishuli 3 ‘A’ from 60 MW to 90 MW. Earlier on 1 June the NEA...

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Gold price up by Rs 1‚600

21 May, Kathmabndu: The gold traders can heave a sigh of relief as the price of gold increased by Rs. 1,600 on Tuesday to reach Rs 50,300 per tola (11.664 gram). The gold price kept on descending over the week making it the 22 month low of Rs. 48697 on Monday. On the first day of trading– on Sunday , the domestic market witnessed a fall of Rs 651 per tola in gold price, according to Nepal Gold and Silver Dealers’ Association. The gold price is fixed in the domestic market on the basis of international market price. The...

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Gold price hits year low‚ traded at Rs 49‚099

19 May, Kathmandu: With the start of a new week, gold price has dropped by Rs 651 per tola (11.664 gram) on Sunday making it a year-low on the price. According to the Nepal Gold and Silver Dealers’ Association (NEGOSIDA), gold is being traded at Rs 49,099 after the fall in price. On Friday, the precious yellow metal was traded at Rs 49,750. Last week on Sunday, the gold was being traded at 51,900, and it kept on descending over the week. This April the gold price took a nose dive of Rs. 6,300 per tola in a span...

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19 May, Kathmandu: The Department of Roads (DoR) has sought Rs 1 billion in the upcoming budget to speed up trade routes widening work. For last three years, the government has been working on a project to upgrade and widen four selected sections of trade routes to six lanes. The government’s Trade Route Improvement Project includes widening of Surya Binayak-Dhulikhel, Belhiya-Butwal, Rani-Itahari and Birjung-Pathalaiya sections. These are the country’s trade routes with India and China. The government in 2010 had decided to widen the routes to help boost trade. However, work to this effect has not moved as anticipated...

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Beckingham Palace for Sale

DAVID and Victoria Beckham are selling their country estate in England, known as “Beckingham Palace’. After selling, they are planning to move to the city. According to reports, the mansion in Hertfordshire, which includes a helipad and recording studio, is on the market for $14.72 million. They are planning on buy home in Kensington or Mayfair. David, 37, and his wife, Victoria, 38, bought the country house after their marriage in 1999 for pound stg. 2.5 million. Since then have expanded it, adding swimming pools, a gym, tennis courts and games room. The family has insisted it is sold to a private buyer to ensure it is not developed into luxury apartments, says source. The family celebrated Easter at their Beverly Hills mansion at the weekend along with sons, Brooklyn, 13, Romeo, 10, Cruz, 7, and Harper, who is almost...

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India to provide Rs. 640 million for different projects

13 march,kathmandu.  The Government of India has decided to provide Rs. 640 million for some 425 small and big projects in education, health and infrastructure development as per Nepal-India Economic Cooperation Programme across the country. As per the programme, India is to provide the assistance for the construction of new building of Anbukhairani Campus. The construction cost of the building is estimated at Rs. 40 million. Mission Deputy Chief of the Indian Embassy, Jaideep Majumdar, laid a foundation stone of the building amid a function on Tuesday, stated the Indian Embassy in Nepal. The campus has a total of 1,000 students where Bachelor’s level classes are run. Similarly, Councilor at the Political and Economic Assistance Department, Piyush Shreebastav inaugurated a newly constructed building of Tribhuvan Campus at Rupakot VDC in the northern belt of the district. India had provided Rs. 14.4 million for the construction of the building.   Besides this, India has provided Rs. 65 million in different projects. It also provided four ambulances for the...

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Japan to provide Rs.13.65 billion Hydropower

13 march,kathmandu.   The Government of Japan through Japan International Cooperation Agency (JICA) has agreed to provide an assistance of Rs. 13.65 billion to Nepal for the implementation of the Tanahun Hydropower Project. The note of this agreement has been signed by Shantaraj Subedi, Secretary at the Ministry of Finance and Kunio Takahashi, ambassador of Japan to Nepal, on behalf of their respective governments. According to a press release issued today by the Ministry of Finance, the loan agreement has been signed by Madhu Kumar Marasini, Joint Secretary of the Ministry and Masataka Nakahara, Director General, South Asia Department of JICA, on behalf of the government of Nepal and JICA, respectively. JICA has provided the amount to be paid back within the next 40 years for the reservoir type hydropower project. The Ministry of Energy stated that a total cost of the project is estimated to be 505 million US dollars. Asian Development Bank (ADB), the European Investment Bank (EIB), Abu Dhabi Fund for Development (ADFD) are the other co-financers of the project. The project is developed on the Seti River near Damauli of Tanahun district and expected to generate 140 MW of electricity all the year round. The government has a plan to complete the project within December, 2020. The government through a subsidiary loan agreement will on-lend the total loan to Nepal Electricity Authority (NEA) and the...

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Lukla to Reslove Drinking Water Problem

Solukhumbu: People of Lukla, a tourist town in Solukhumbu district are to collect amounts from each household for the resolution of drinking water problem persisting for years. The mass gathering in Lukla decided this by dividing all the 204 households as A, B , C, D and E groups, said chairman of the Chaurikharka Buffer Zone Management Committee, Ngim Dorji Sherpa. He said the households will pay Rs. 60,000, Rs. 50,000 , Rs. 30,000, Rs. 10,000 and Rs. 5,000 each. They plan to collect Rs. 1.2 million to Rs. 1.5 million and a Drinking Water and Sanitation ad hoc Committee has been formed under the chairmanship of Lhakpa Chhiring Sherpa, he said. The Lukla people have also requested Indian Embassy for cooperation to run the project....

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CONVENTION OF AUDITORS BEGINS IN CAPITAL

The third convention of the Nepal Auditors’ Association Nepal (AUDAN) Kathmandu Valley Coordinating Committee began here today. The convention will elect a new 15-member working committee. Inaugurating the convention, Chairman of the Nepal Chartered Accountants Association, Madhubir Pandey called for increasing the capacity of the AUDAN members. Central chairman of AUDAN Kamal Kharel said strong voices are heard on one-person one profession and the central general convention will discuss it. Chairman of the Valley Coordinating Committee Bholanath Pathak called for safeguarding professional rights in the convention attended by some 200 auditors....

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90 million transactions at Mobile Expo

30 Jan, Kathmandu :Nearly 90 million rupees transactions were carried out at the mobile expo which was organised by the Nepal Mobile  Entrepreneurs  .The second mobile expo was held at the Civil Mall at local Sundhara from January 23. The expo concluded on Tuesday. About 150 thousand visitors observed the expo, according to the organisers. Mobile phones manufactured by different companies from India, South Korea, China, Malaysia, Japan and others were kept on sale at the expo. Discount of 15 to 40 per cent was offered on the sale of different brands of mobile phones.It was found that visitors were much attracted to the latest models of cell...

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