My Republica

Sagar Ghimire

Ghimire is associated with Republica, English National Daily, since November 2013. He reports and writes on banking, financial, cooperatives, labor, foreign employment and Mount Everest expedition issues.     
Twitter: @sagarghi

sagar.use@gmail.com

Govt asks Sajha to return Rs 3b meant for buying 300 electric buses

Published On: January 24, 2020 07:35 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 24: The government has decided to retrieve the Rs 3 billion it had provided to Sajha Yatayat six months ago to purchase 300 electric buses.

IMF projects Nepal’s economic growth to moderate to 6%

Published On: January 18, 2020 11:42 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 18: The International Monetary Fund (IMF) has said that the economic growth of Nepal will moderate to 6% in the current fiscal year 2019/20.

Financial institutions report 1,351 suspicious transactions in FY 2018/19

Published On: January 15, 2020 07:37 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 15: The number of reports on suspicious transactions that the Financial Information Unit (FIU) under  Nepal Rastra Bank  received in  fiscal year 2018/19 has jumped by 52 percent to 1,351.

10 percent VAT rebate on electronic payments

Published On: January 11, 2020 08:06 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 11: Consumers who make purchases through electronic means will now be able to get a 10 percent rebate on the 13 percent VAT they have paid to the government.

20 useful apps for 2020

Published On: January 1, 2020 01:55 PM NPT By: Sagar Ghimire

There are thousands of applications for both iOS- and Android-powered smartphones. From apps of banks to e-commerce platforms, they have become a part of daily life with the growing use of smartphone and the Internet.

20 development projects that will be watched in 2020

Published On: January 1, 2020 10:00 AM NPT By: Sagar Ghimire

In 2020, two national pride projects – Upper Tamakoshi Hydropower Project and Gautam Buddha International Airport project – are set to be completed. The construction of some other promising projects will kick-off. Authorities will have to expedite works for some projects amid their looming deadlines. Even the current pace of the progress of few development projects will bring them closer toward the completion. Here are 20 development projects that will be watched closely in the year 2020.​

Govt picks Fitch Ratings for Nepal’s sovereign credit rating

Published On: December 26, 2019 08:30 AM NPT By: Sagar Ghimire

KATHMANDU, Dec 26: The government has picked Fitch Ratings, the American rating agency, for the sovereign credit rating of Nepal. The decision to select Fitch Ratings will pave the way for the global rating agency to assess the creditworthiness of Nepal, a first for the country.

What Global IME Bank’s big merger may mean for other banks

Published On: December 7, 2019 08:05 AM NPT By: Sagar Ghimire

KATHMANDU, Dec 7: After completing the process of merger with Janata Bank Ltd, Global IME Bank Ltd has emerged as the biggest bank in terms of key financial indicators including capital, deposits and assets (loans).

Govt bars firms from making int'l payments for software services

Published On: November 11, 2019 07:47 AM NPT By: Sagar Ghimire

KATHMANDU, Nov 11: With the Nepal Rastra Bank (NRB) halting foreign exchange facility to various businesses since the past few months, many firms, especially those with foreign investments, are facing difficulty in making payments to their suppliers for the purchase, repair or renewal of their software programs bought from international companies.

India dilly-dallies on exchange facility for Nepal

Published On: November 8, 2019 05:10 PM NPT By: Sagar Ghimire

KATHMANDU, Nov 8: Friday marks the third anniversary of India's sudden announcement to demonetize banknotes of IRs 1,000 and 500 denominations.

Deputy Governor suspended with formation of inquiry committee

Published On: November 5, 2019 10:25 AM NPT By: Sagar Ghimire

Government move, apparently aimed at firing Shiba Raj Shrestha, follows a request from DoMLI over a money laundering offense

NRB Deputy Governor suspended after formation of inquiry committee

Published On: November 4, 2019 12:51 PM NPT By: Sagar Ghimire

KATHMANDU, Nov 4: Nepal Rastra Bank’s board meeting held this morning has formed an inquiry committee to probe into allegations made against the central bank’s deputy governor Shiba Raj Shrestha.

NRB Deputy Governor likely to get suspended amid allegation of threatening financial stability

Published On: November 4, 2019 08:16 AM NPT By: Sagar Ghimire

KATHMANDU, Nov 4: The government has instructed Nepal Rastra Bank (NRB) to start an inquiry into Shiba Raj Shrestha, a deputy governor of the central bank, accusing him of ‘working in a way that threatens the financial stability’ of the country.

Government eyes 80th rank in next year’s Doing Business Index

Published On: October 26, 2019 07:45 AM NPT By: Sagar Ghimire

KATHMANDU, Oct 26: Upbeat with Nepal’s improvement in Doing Business Index of 2020 by 16 notches to 94th in global ranking, the government is setting a target of bringing the ranking below 80th position next year.

Nepal jumps 16 places to become 94th easiest country for ‘doing business’

Published On: October 25, 2019 10:57 AM NPT By: Sagar Ghimire

KATHMANDU, Oct 25: Nepal has moved up 16 places in the World Bank’s Doing Business index for 2020 and ranked 94th among 190 economies in the world.

Govt blocks purchase of 300 electric buses by Sajha over specifications row

Published On: October 22, 2019 07:16 AM NPT By: Sagar Ghimire

KATHMANDU, Oct 22: Accusing Sajha Yatayat of changing the specifications document provided by the government for the procurement of electric buses, the Ministry of Physical Infrastructure and Transport (MoPIT) has blocked the purchase of a fleet of the clean-mode vehicles.

Oli projects Rs 5 trillion economy within his present tenure

Published On: September 21, 2019 07:21 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 21: Prime Minister KP Oli has announced that the government will increase the size of the economy to Rs 5 trillion within his current tenure. The current gross domestic product (GDP) stands at Rs 3.5 trillion.

FNCCI, ICAN representatives to be removed from Sebon board

Published On: September 18, 2019 09:29 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 18: The government has tabled a new bill to amend the Securities Act, 2007 proposing a removal of a provision in the law that ensures representation from the private sector and the regulatory body of chartered accountants as board members of the Securities Board of Nepal (SEBON).

Govt proposes tightening terms for bank board directors

Published On: September 14, 2019 10:19 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 14: Board directors in bank and financial institutions (BFIs) will not be allowed to get appointed, elected or nominated for more than two continuous terms if the new bill to amend the Bank and Financial Institution Act, 2017 (BAFIA) tabled in the parliament is endorsed.

Five-year clock to implement $500m MCC compact to start ticking from June 30

Published On: August 9, 2019 02:00 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 9: The five-year clock for implementation of a multimillion-dollar program financed through the Millennium Challenge Corporation (MCC) grant of the US will start ticking from June 30 next year.