Category: Finance

Cooking gas price dearer by Rs 25

11 March, Kathmandu: The state-owned Nepal Oil Corporation (NOC) has hiked the price of LP gas cylinder. NOC spokesperson Sitaram Pokharel shared that the increase of Rs 25 per cylinder would come to force from this mid-night. After the fresh NOC move, the price of a LP gas cylinder reached Rs 1375. Spokesperson Pokharel said that the NOC is still facing loss of Rs 291 in each LP gas cylinder. The price of petrol, diesel and kerosene however, remains the same, the NOC...

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‘Modern Nepali Food Festival’ in the offing

8 March, Kathmandu: Hospitality Foundation of Nepal is set to hold ‘Modern Nepali Food Festival’ beginning this Saturday. The Foundation, which has been working to promote tourism for the past five years, on Tuesday organized a press conference to disclose information on the upcoming event. The Foundation stated that it was organizing the festival with an aim to promote Nepali food and taste in the international market. The festival will be held at Event Samrat Garden Restaurant at Samakhusi....

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Power production from Sanjen Hydro likely within 20 months

6 March, Rasuwa: The under-construction 14.8 Megawatt upper Sanjen Hydropower Project in Rasuwa is likely to go into the production phase within the next 20 months. The project is based at Simbu VDC-4 in the north part of the district. The dam for the project is constructed at Tilochebagar of Chilime VDC which is at an altitude of 2,350 meters above the sea level and the construction of a 1387-meter long tunnel meant for supplying water from the dam site to the power house got completed Sunday, according to Kiran Kumar Shrestha, Chief Executive Officer of Sanjen Hydro Power...

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Nepali businesspersons based in India to invest Rs 1 billion in Nepal

5 March, Kathmandu: Nepali businesspersons in India have showed their interest to invest in Nepal in various sectors. As part of their plan, they informed that a well-equipped resort at Bardiya National Park would be built at the cost of Rs 1 billion under the Federation Everest Chamber of Commerce and Industries (FECCI). The information was shared at a press conference organised in the Capital today by the FECCI. The FECCI representatives were in the Capital to take part in the recently-held Nepal Investment Summit. Addressing the meet, FECCI President Yubraj Baral said Bardia has been prioritised for investment...

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Chameliya project gains momentum following minister’s instruction

5 March, Baitadi: The tunnel construction of the 30 – megawatt Chameliya Hydro Power Project at Balanch village of Shikhar VDC in Darchula has been completed. The project construction work, which had slowed down, gained momentum following an instruction from Minister of Energy, Janardan Sharma. Minister Sharma on February 11 had made an onsite visit to the construction site of the project and issued the directive for its completion at the earliest. Of the total of 4.6 km tunnel, the construction of 843 meters had been too narrow. This prompted the project management to expand the narrow stretch of...

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Japan extends financial assistance of 80,532 US dollar to NESPEC

5 March, Kathmandu: The government of Japan has decided to extend financial assistance of 80,532 US dollar to Nepal Social Development and People Empowerment Centre (NESPEC) under the grant assistance for Grassroots Human Security Project (GSP) scheme of the government of Japan. NESPEC, a local NGO in Udayapur district, will work with Small Farmer Women Agriculture Cooperative Society, Rampur Thoskila, to implement the project for the construction of Training Centre for Women’s Cooperatives in Udaypur district. A grant contract relating to this project was signed and exchanged between Ganga Rai, President of Nepal Social Development and People Empowerment Centre...

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Investment Summit concludes with 1400b FDI commitment

4 March, Kathmandu: The two-day-long ‘Nepal Investment Summit’ organized in the capital city with a purpose to attract foreign direct investment (FDI) ended Friday, receiving 13.52 billion US Dollars investment in Nepal. Organizing a news conference after the conclusion of the Summit, Industry Minister Nabindra Raj Joshi said that the investors who participated in the Summit were excited to invest in Nepal. During the two-day-long event, separate papers were presented on energy, infrastructure, tourism, information technology, financial sector, mines and minerals, agriculture and forest products, and so on. It is said that the number of Chinese investors was the highest...

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Canada economy grew 2.6% in fourth quarter: official data

3 March, Ottawa: Canada’s economy grew at an annualized rate of 2.6 percent in the final months of 2016, catapulted by goods purchases and stock market commissions, the government statistical agency said Thursday. The fourth quarter gross domestic product (GDP) — a broad measure of the economy’s output — beat analysts’ forecasts, following a 3.8 percent bump the previous quarter, which Statistics Canada revised upward in its latest announcement. Growth in household expenditures slowed. There was an uptick in outlays on durable goods, as well as financial services such as mutual fund, stock and bond commissions. Investment in new...

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India provides loan assistance of Rs 36.47 billion

19 Feb, Kathmandu: The government of India is to provide loan assistance of Rs 36.47 billion for the development of roads and bridges in Nepal. The information was shared at a programme organised at the Ministry of Physical Planning and Transport to exchange a Memorandum of Understanding to that end here today. On the occasion, Indian Ambassador to Nepal, Ranjit Rae and Secretary at the Ministry, Dhan Bahadur Tamang, exchanged a MoU in presence of Minister Lekhak and Railway Minister of India, Suresh Prabhakar Prabhu. Speaking on the occasion, Minister Lekhak said that India has provided significant support in...

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Laying 533 kilometers pipeline for Melamchi project completes

18 Feb, Kathmandu: Of the total 670 kilometers water pipeline to be laid in Kathmandu valley for the Melamchi water project, work on 533 kilometers has been completed, said the Project Implementation Directorate, Kathmandu Upatayaka Khanepani Limited. The information was shared at a programme organised by the Directorate in the Capital on Friday. Project director of the Directorate Tiresh Prasad Khatri said laying pipeline at various 40 places is ongoing. On managing dusts emanated from digging road to lay pipeline, he said efforts are on in this regard as per Environment Protection Act and the Safeguard Policy of Asian...

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