Category: Business

Govt to insure citizens below poverty line

Kathmandu, February 23 The government has announced that it would provide life insurance, free of cost, to those living below the poverty line. The announcement was made by Minister for Finance Yuba Raj Khatiwada while speaking at the Rastriya Beema Sansthan’s anniversary event. Stating that in Nepal about 1.6 million people live below the poverty line, he informed the government would pay the premium on…

Nepal needs additional $879m for safer roads: WB

Kathmandu, February 21 As vehicle ownership grows in Nepal, road crashes will continue to steadily climb Nepal needs to invest an estimated extra $879 million in road safety over the next decade to halve its road crash fatalities, says a new World Bank report. In Nepal, road crash deaths and injuries have been on a sharp upward trajectory since early 2000s with a fatality rate…

NAC’s last flight to Osaka on Feb 27

Kathmandu, February 21 Nepal Airlines Corporation (NAC) is all set to halt its Osaka flights from February 27. As the national flag carrier is preparing to begin flight operations to Narita International Airport from March 2, the national flag carrier has decided to halt Osaka flights completely. NAC has stated that flights to Narita are economically more viable than those to Osaka. Archana Khadka, spokesperson…

Rain ruins bricks worth millions in Sudurpaschim Province

DHANGADHI: Brick producers in Sudurpaschim Province suffer loss worth millions due to rainfall. Continuous rain since Friday in the province has damaged millions of raw bricks readied to be baked in the brick kilns of the province. Around 400 million bricks are produced annually by nearly 90 brick industries in the province. However, the industries have failed to produce optimally this year due to the…

Govt to provide ‘innovative’ entrepreneurs up to Rs 5 million grant

Kathmandu, February 21 The government is soon launching a programme targeting ‘innovative’ entrepreneurs who would develop some high-quality inventions or system by utilising the new technology and limited time and resources. As per the plan, the government will give each of them up to Rs five million as a grant. Earlier, the government had announced to launch such a programme in its annual budget plan…

Gold at new peak of Rs 77,600 per tola

Kathmandu, February 20 Gold price recorded an all-time high of Rs 77,600 per tola in the domestic market today. Up by Rs 500 per tola compared to Wednesday’s price, gold price has reached a fresh peak, as per Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA). Bullion traders said that the spread of the coronavirus which has affected the Chinese economy and also the…

Ncell hands over cash prizes to winners

KATHMANDU: Ncell on Thursday handed over cash prizes to the monthly and weekly winners under its ‘Recharge ma Chamatkaar’ campaign. Ganga Maya Rai of Ilam and Takaram Balal Magar of Rupandehi have won Rs one million each under this campaign, as per a media release. ‘Recharge ma Chamatkar’ is Ncell’s customer loyalty programme which was effective for three months period starting November 17. Rai was…

BoK’s silver jubilee

KATHMANDU: Bank of Kathmandu (BoK) has marked its 25th anniversary. At a special function, Nepal Rastra Bank Governor Chiranjibi Nepal unveiled the bank’s 25th anniversary logo, as per a press release. As part of its corporate social responsibility initiative, the bank donated Rs 10 million to Kathmandu Institute of Child Health for construction of an intensive care unit and handed over a cheque of the…

SC rules in favour of Kansai Paints Nepal

Kathmandu, February 20 Kansai Paints Nepal has won a legal battle over the issue of trademark rights. The Supreme Court has ruled in favour of the Japanese multinational company by stating that the ‘Nerolac’ brand belongs to the Japanese firm and has allowed it to produce paint products under the aforementioned brand name. The issue of who could use the ‘Nerolac’ brand had been in…

CKSHP achieves financial closure

KATHMANDU: NMB Bank has successfully executed the financial closure of Chepe Khola Small Hydropower Project (CKSHP) having an installed capacity of 8.63 MW. The project being developed by Aashutosh Energy is located at Dudh Pokhari Rural Municipality of Lamjung district and Ajirkot Rural Municipality of Gorkha district. The project is solely financed by NMB Bank, as per a press statement. The total project cost Read…