KATHMANDU, July 17: Kalimati Fruits and Vegetable Market Development Board and traders at Kalimati market have submitted their statements at Kathmandu District Court on Monday, regarding a case filed by the traders against the board. It is likely that the court will take one or two more days to give its verdict on the case.
KATHMANDU, July 17: The balance of payment (BoP) position of the country has slightly improved in the eleventh month of the current Fiscal Year 2017/18, but still remains on the negative side. According to the Nepal Rastra Bank (NRB), the overall BoP turned into a deficit of Rs 4.34 billion in the eleventh month of the current Fiscal Year 2017/18 that ends on Tuesday. The deficit was Rs 18.9 billion in the tenth month.
KATHMANDU, July 17: Despite lofty promises of reining in financial indiscipline and announcement of reforms in project execution, the government made biggest ever single-day payment on Sunday. This indicates the project execution has been done in the eleventh hour with the sole intention to use up the budget before the end of the fiscal year.
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.
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.