KATHMANDU, Dec 5: The Nepal Rastra Bank (NRB) is said to allocate Rs 25 billion from its profit of the last fiscal year (FY) for the Government of Nepal. The board of directors of NRB approved the annual report, audited by external auditors for FY 2022/23.
KATHMANDU, Nov 4: The profits of Nepal’s commercial banks declined 18.60 percent in the first three months of the current fiscal year, thanks to the fall in demand for loans due to the ongoing economic slowdown.
KATHMANDU, August 20: Eight years ago, until 2015, Nepal struggled with over eight hours of daily power cuts due to electricity demand surpassing supply. Citizens could not even meet essential electricity consumption needs.
KATHMANDU, Aug 16: The profit of Nepal Telecommunication Company (Nepal Telecom) has decreased due to the reduction in the income of service sales and the increase in operating expenses. In the last fiscal year 2079/80 BS, the company reported a profit of Rs 7.80 billion.
KATHMANDU, July 2: Nepal Oil Corporation (NOC) has announced a profit in the sale of LPG after a one-year period. According to Manoj Kumar Thakur, deputy director of NOC, the corporation has made a profit of Rs 7 per cylinder on LPG sales.
KATHMANDU, May 29: Nepal Electricity Authority (NEA) has earned more profit than Nepal Telecom. In the Fiscal Year (FY) 2022/23, the state-owned power utility earned Rs 13.37 billion net profit, while the profit of Nepal Telecom has been limited to Rs 8.47 billion.
KATHMANDU, August 6: Nepali commercial banks increased their net profit by 23.14 percent in the last fiscal year as compared to that of the amount in 2020/21 despite facing shortage of loanable funds for almost a year.
KATHMANDU, Feb 14: Nepal Telecom (NT) has made a profit of Rs 3.28 billion in the first half of the current fiscal year. This is a decline of 33.46 percent in its profit as compared to the same period in the last fiscal year.
KATHMANDU, Aug 18: Nepal Electricity Authority (NEA) has managed to earn a profit of Rs 11.6 billion in the last fiscal year 2019/20, according to the financial statement made public on the occasion of its 35th anniversary.
KATHMANDU, April 22: The private telecom company Ncell has filed a writ petition at the Supreme Court on Tuesday arguing that the tax amount determined by the Large Taxpayers’ Office (LTO) earlier last week was not in accordance with the existing law.
KATHMANDU, April 14: Telecommunication service providers in Nepal are charging exorbitant tariffs and prices to consumers for mobile and telephone services, according to the audit report of Office of the Auditor General (OAG).
SEOUL, April 5: Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels.
North Korea, Feb 4: On the surface, there is nothing remarkable about this sleepy fishing port in Maputo. But hidden from view, wedged between the other boats and ships docked there, are the rusty Susan 1 and Susan 2. These are not ordinary fishing vessels, but sanctions-busting trawlers manned by crews from North Korea.
KATHMANDU, Dec 25: The Supreme Court cleared the way for telecom company Ncell to repatriate its dividend from Nepal on Sunday. A division bench of Justices Om Prakash Mishra and Kedar Prasad Chalise allowed repatriation of profits earned by Ncell.
KATHMANDU, August 29: The net profit of 23 commercial banks has crossed the billion-mark in the last Fiscal Year 2016/17. Six commercial banks are the new members to the club of commercial banks with net profit of over Rs 1 billion.
KATHMANDU, Aug 11: Nepal Stock Exchange (Nepse) benchmark index fell 11.52 points this week to close at 1,653.53 points on Thursday -- the last trading day of the week.
The stock market, which was posting gains till last week following a long slump, again took a dive this week. Analysts say that the correction was mainly due to profit booking mentality of investors.
KATHMANDU, May 23: The article of association of Nepal Oil Corporation (NOC) says that the sole objective of the corporation is to distribute petroleum products by adding administrative costs on import price and ensure smooth supply in the market.
Seeking to calm employees rattled by reports of a cash crunch, the founders of Indian online retailer Snapdeal have gone directly to them with a string of town hall meetings in past weeks, according to sources, promising profit and brushing off takeover talk.
KATHMANDU, Jan 30: Nepal Rastra Bank (NRB) has made it mandatory for bank and financial institutions (BFIs) to set up a corporate social responsibility (CSR) fund and allocate at least 1 percent of their total net profit in the fund.
KATHMANDU, Jan 7: Pro-Ed Multipurpose Co-operative Ltd., a cooperative that mainly prioritizes education as the field for investment, has held its Ninth Annual General Meeting in Mid Baneshwar, Kathmandu on Saturday.
KATHMANDU, Aug 17: Despite increase in investment by Nepal Army's Welfare Fund in various sectors, the profit declined in the fiscal year 2072/073 due various factors including fluctuation in bank interest rates, the devastating earthquake of April 2015 and Indian blockade.