KATHMANDU, July 16: Small enterprises including beauty parlors and small-scale shirting and suiting shops will have to mandatorily register in Value Added Tax from Tuesday, the first day of the Fiscal Year 2018/19.  The provision endorsed in the budget has put these small enterprises under existential threat, according to Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Chinese company Chongquin Machinary & Electronics Holding (Group) Co Ltd (CME) has partnered with People’s Energy Ltd (PEL) to construct the Khimti-2 Hydroelectricity Power Plant in Nepal. The 48.8 megawatt project of US$ 88 million is to be constructed in the Khimti River situated in the bordering areas of Dolakha and Ramechhap districts. The two companies signed a contract for this purpose on Friday.

KATHMANDU, July 16:The government’s plan to set up integrated rescue centers in Everest and Annapurna regions remains limited only to paper.

CHITWAN, July 16: Madi Municipality in Chitwan, the only place in the country with underground electricity lines, has been facing electricity cut-offs for the last two weeks.

KATHMANDU, July 15: Speakers attending an interaction program here today pointed out the need to formulate policy to promote entrepreneurship and achieve economic prosperity.

RUPANDEHI, July 15: Nepali entrepreneurs have been increasingly interested toward investing into hotels in Rupandehi district in view of the under-construction Gautam Buddha International Airport (GBIA) at Bhairahawa.

KATHMANDU, July 15: Nepali industrialists hope that direct air link between western Nepali town Nepalgunj and Indian capital New Delhi would be a game changer for the economic development of Province 5.

KATHMANDU, July 15: Hike in ginger price was expected after India opened unhindered supply of Nepali fresh ginger effective from July 2. But price of this staple spice has seen a slight fall instead.

KATHMANDU, July 15: The recent announcement of the Nepal Rastra Bank (NRB) in its monetary policy for the upcoming fiscal year to allow commercial banks to work as brokerage firms has prompted mixed reactions from stakeholders.

KATHMANDU, July 14: The local level is to have 57,690 employees for interim arrangement, while there will be 45,815 employees for the centre and 16,570 for the states.