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Govt treasury empty after haphazard spending in last month

Published On: July 21, 2018 10:22 AM NPT By: Rudra Pangeni

KATHMANDU, July 20:The government treasury is now empty following irrational budget distribution at the end of the fiscal year that ended Monday. Not a single penny has been left from the previous fiscal year , according to officials of the Ministry of Finance (MoF). This fiscal indiscipline on the part of the current government is sure to have serious consequences as it may trigger internal borrowing right from the first month, just as the previous government had done this time last year.

Annual credit jumps 20.46% while deposit grows 17%

Published On: July 21, 2018 07:07 AM NPT By: Republica

KATHMANDU, July 21: The banking industry continued to grapple with the mismatch of assets and liabilities in the last fiscal year as lending by commercial banks expanded 20.46 percent while their total deposits grew only 16.77 percent.

Construction of Thamkhara airport delayed

Published On: July 21, 2018 07:02 AM NPT By: Republica

KHOTANG, July 21: Negligence by contractors has left construction of Thamkharka airport in the eastern district of Khotang in quandary. The deadline to complete the work was mid-July, 2018.

'TSC on internet to make up for declining voice call revenue'

Published On: July 21, 2018 07:00 AM NPT By: Republica

KATHMANDU, July 21: The government has claimed that imposing Telecommunication Service Charge (TSC) on internet service is aimed to make up for telecom revenues from voice calls that is continually declining in recent times.

Nepse closes week nearly flat despite initial surge

Published On: July 21, 2018 06:54 AM NPT By: Republica

KATHMANDU, July 21: Stocks opened the week posting strong gains ahead of the start of the Fiscal Year 2018/19. On the first two trading sessions, the Nepal Stock Exchange (Nepse), which opened the week at 1191.98 points, climbed more than 20 points. Nonetheless, the index recorded losses in all latter sessions. Consequently, Nepse added a meager 1.41 points to close the week at 1,193.39 points.

Australia willing to invest in Nepal's energy sector

Published On: July 20, 2018 06:25 PM NPT By: Republica

KATHMANDU, July 20: Minister for Energy, Water Resources and Irrigation, Barshaman Pun, and Australian Ambassador to Nepal, Peter Budd, held discussion on the matters of collaboration in energy and hydropower sector.

Over 500 thousands foreign tourists visit Nepal in six months

Published On: July 20, 2018 06:11 PM NPT By: Republica

KATHMANDU, July 20: In the first six months of the year 2018, Nepal welcomed over 520,000 tourists from various parts of the globe.

Drinking water project worth Rs 10 million completes

Published On: July 20, 2018 12:34 PM NPT By: Republica

CHITWAN, July 20: A drinking water project has been constructed at the cost of Rs 10 million at Gadhuwa of Kalika Municipality of eastern Chitwan.

Railborne imports through dry port up 25 percent

Published On: July 20, 2018 01:30 AM NPT By: Republica

BIRGUNJ, July 20: The number of containers coming to Sirsiya Dry Port in Birgunj from third countries via Indian ports increased by nearly 25 percent in Fiscal Year 2017/18. This suggests a healthy growth in the country's third-country imports via the dry port.

Nepse falls for third straight day

Published On: July 20, 2018 12:30 AM NPT By: Republica

KATHMANDU, July 20: Stocks fell sharply over the first trading hour of Thursday's session. Despite staging a partial comeback mid-session, the benchmark Nepal Stock Exchange (Nepse) index continued its downfall toward the end. At the close, the index stood at 1,193.39 points – a drop of 5.38 points, or 0.45 percent, compared to Wednesday.