Category: Finance

NAC calls bidding for auction sale of aircraft

11 April, Kathmandu: The Nepal Airlines Corporation (NAC) has announced a global tender for auction sale of its 30-year-old aircraft—Boeing B757-200 9N-ACA. The sale aims to save aviation turbine fuel required to operate the old aircraft and costs required to repair it time and again, said NAC’s Spokesperson Rabindra Shrestha. The NAC has also set the auction price at minimum USD 1.7 million. It costs approximately USD 4 million to purchase a new brand aircraft of its kind in the market. Of the two planes purchased 30 years ago, one is in operation currently (Boeing 9N-ACB), he said. The...

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Over Rs 12 m worth of property burnt down in Jhapa fire

9 April, Baniyani (Jhapa): A fire broke out at a furniture industry in Bhadrapur-8 in Jhapa today morning, destroying property worth more than Rs 12 million. A short-circuit caused the explosion of cooking gas cylinders, burning down Rs 12.5 million worth of good and equipments used for furnishing, clothes and other household materials, said Deputy Superintendent of Police Netra Bahadur Karki. The exact details of the loss is yet to be ascertained. The industry was owned by local resident Debendra Basnet. The flame that started at around 3 am was doused about four hours later with the help of...

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Nine more suspension bridges to be built in Myagdi

3 April, Babiyachaur (Myagdi): The construction of nine more suspension bridges has been launched this year in Myagdi district at an estimated cost of more than Rs 50 million. The District Coordination Committee is spearheading the construction of the bridges with a goal to complete them within the next four months. Three bridges will be built at Raghunga, two in Dhaulagiri, Annapurna, Malika and one each at Mangala Village Council and Beni Municipality, Committee’s Assistant Sub Engineer, Bal Krishna Poudel said. Poudel added that the project with an estimated budget of Rs 51.1 million will benefit the locals of...

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Nepse clamps circuit breaker

2 April, Kathmandu: The Nepal Stock Exchange (NEPSE) index today witnessed a dramatic surge by 79.47 points, prompting the market regulator to apply circuit breaker two times. The NEPSE started from 1587 points and reached 1667. Increasing likelihood to hold local level elections and an improvement in credit crunch are said to be behind the increment. A total 1.67 million shares of the total 134 companies were traded involving a cost of Rs 964 million, said the NEPSE. The sensitive index also increased by 16.38 points. Trade of shares of Bank rose by 70.6 percent while hotel 87.13 percent...

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Teachers support Rs 500 thousand to National Invention Centre

28 March, Beni (Myagdi): Teachers working under the Adarsha Secondary School Resource Centre have supported Rs 500 thousand for establishing the National Invention Centre initiated by Mahabir Pun, a widely known figure of introducing wireless technologies in remote areas of the Himalayas. The resource person at the Centre Bharat Kumar Pun and headmaster at Tikot Secondary School, Pradip Pun handed the amount to the campaigner Pun. Pun has contributed to extending the internet facilities in the area. Campaigner Pun was awarded with the Magsaysay Award in 2007....

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Kabeli A Project construction kicks off

27 March, Taplejung: The construction of the 36.6 megawatt ‘Kabeli A Hydro Power Project’ has been launched with a set target of completion time of three years. The construction site is located at the Kabeli river that flows through the border of Taplejung and Paanchthar districts. With completion deadline set at 2020, the foundation stone of the project was laid on Friday amidst a ceremony held here. The project being developed at a cost estimate of Rs 10 billion is the biggest yet in eastern Nepal. The Butwal Power Company has 56 per cent shares in the hydro power...

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More than Rs 20 million collected from educational and religious festival

26 March, Khotang: More than Rs 20 million has been collected from educational and religious festival organised at Matikaure playground for the support of Diktel Multiple Campus. A total of Rs 21.731 million was collected till the last day of the week-long festival on Saturday, said Chairman of Campus Management Committee and Festival Main Organising Committee, Devi Rijal. The festival was organised with an objective to making the campus as the model campus of the country by providing quality education, said Campus Chief Dr Shukraj Rai. Master Degree classes of other subjects would be run from the amount collected...

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Energy Minister calls for youth involvement in hydropower development

25 March, Kathmandu: Minister for Energy Janardan Sharma has called upon all the youths to participate in the mega campaign of hydropower development with a vision of making the country self-sufficient. Inaugurating the second Kathmandu district-level convention of the Young Communist League (YCL), the youth wing of the CPN (Maoist Centre) here today, he said the slogan – Nepal’s Water People’s Investment – has been brought by the government with the goal of engaging all the youths in hydropower development. The Energy Minister stated that the government has forwarded the process of allocating shares of the Tila Karnali Hydroelectricity...

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Drinking water project of Rs 280 million in Besisahar

23 March, Lamjung (Besisahar): A mega drinking water project of Rs 280 million is to be implemented in district headquarters, Besisahar. The Besisahar Drinking Water and Sanitation Users Committee took the initiative for the project. The Committee shared that project was initiated on the co-funding of the Ministry of Drinking Water and Sanitation and the Department of Sewerage. Committee Chairperson Krishna Lal Pradhan said the users would invest 30 % of total project estimated costs along with their kind labour. He informed that the technical preparation of the drinking water project has been completed. The drinking water project would...

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Bhaktapur bus entrepreneurs warn of not allowing Sajha bus service

21 March, Bhaktapur: At a time when the Sajha buses have become popular with reliable service in the Kathmandu and Lalitpur cities, the transport entrepreneurs in Bhaktapur district threatened that they would not allow the Sajha buses to provide its service in the district. Warning of halting the transport service in all rural areas in the district if Sajha buses are allowed to provide in the district, the transport entrepreneurs tried to impose syndicate. At a news conference organised by the East of Koteshwor Transport Coordination Committee at Rafat Media Club on Monday, they said that they would shut...

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