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Preparations complete for Nepal Investment Summit 2017

    Mar 01 2017

    Preparations for the Nepal Investment Summit 2017 which will start from tomorrow have been completed, the Ministry of Industry stated on Wednesday.

    The two-day summit is being organised by the Ministry of Industry with the objective of inviting foreign investment in nine key sectors that form the backbone of the country's development.

    The Ministry has stated that different working papers would be presented in the thematic sessions as energy, infrastructure, tourism, information communications technology, financial sector, mines and minerals, agriculture and forest products, in the summit.

    Minister for Industry Nabindra Raj Joshi informed the media today that all preparations have been completed for the summit which aims to promote Nepal as an attractive investment destination.

    Prime Minister Pushpa Kamal Dahal is scheduled to inaugurate the summit.

    Finance Minister of India, Arun Jaitley is the keynote speaker at the summit. President of the Asian Infrastructure Investment Bank, Mr Jin Liqun is also participating, according to the Ministry.

    Minister Joshi shared that around 250 institutional and individual investors from 24 countries including India, China, Bangladesh, Sri Lanka, Singapore, Hong Kong, Malaysia, Australia, France, Italy, Japan America, Russia, Canada, Britain, South Korea, Finland, Iran, Turkey and Vietnam have confirmed their participation in the summit.

    The highest number of participants in the summit is from China. Representatives of 89 famous companies of China are attending the event. Similarly, representatives of 21 companies from India, 20 companies from Sri Lanka, 14 companies from Malaysia, 13 companies from Japan, 12 companies from Canada, 10 companies from Hong Kong, eight companies each from Britain, South Korea and Vietnam, seven companies from Russia and six companies from United States of America will participate in the summit.

    Likewise, some 300 domestic investors, policy-makers and experts will also participate. The Ministry has expected commitment for investment of approximately Rs 100 billion from different investors during the summit.

    The Ministry also plans to form the Policy Reform Committee, the Project Bank Revision Committee, the Industrial Promotion Committee and the Comprehensive Coordination Committee for the effective implementation of the commitments and the decisions made at the summit.

    Arrangements have also been made for a special information room for the investors, mutual meetings among the investors and a meeting between the government and the investors in course of the summit. RSS

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      Money

      Entertainment

      Sports

      Liverpool reported a 19.8 million pounds ($24.51 million) pre-tax loss for the year ended May 31, 2016, mainly due to investment in players, despite overall revenue rising to a record 301.8 million pounds.

      The English Premier League club's financial results reveal a significant drop on the 60 million pounds pre-tax profit posted the previous year, which was mainly due to the sale of their Uruguay striker Luis Suarez to Barcelona.

      The cost of sacking manager Brendan Rodgers in October 2015, the appointment of Juergen Klopp and his backroom staff and the recruitment of 12 new players contributed to the loss.

      Strikers Roberto Firmino and Danny Ings, midfielder Marko Grujic and defenders Nathaniel Clyne and Joe Gomez were among the players added to the squad during the year.

      Despite failing to qualify for the Champions League, Liverpool's overall revenue rose by 3.9 million pounds, largely due to the Merseyside club reaching the Europa League and League Cup finals last season.

      Liverpool wre the only club in the top 10 of the Deloitte Football Money League not playing in the Champions League last season.

      "The increase in the underlying revenue adds further strength to the club's financial position," Liverpool's chief operating officer, Andy Hughes, said in a statement on the club website. (www.liverpoolfc.com)

      Media revenue rose by one million pounds to 123.6 million and match-day income by 3.4 million pounds to 62.4 million, while commercial revenue fell 700,000 pounds to 115.7 million.

      Commercial revenue was affected by building a new main stand at Anfield, restricting access to the stadium on non-match days.

      "All three main revenue streams continue to show strength and commercial revenues held firm irrespective of the impact of the main stand at Anfield," Hughes added.

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