Stories By 'RUPAK D SHARMA'
A central bank provision that provides leeway to banks and financial institutions to extend credit beyond the regulatory lending limit has posed a threat to the financial sector stability and should be withdrawn promptly, the International Monetary Fund has said.
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Suresh Basnet, the unpopular board director of Kathmandu Upatyaka Khanepani Limited (KUKL), has finally stepped down, closing a tumultuous chapter in the history of the Kathmandu Valley’s sole drinking water supplying company that is gearing up to bring in 170 million litres of water per day from the Melamchi River by October.
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The government is all set to remove hurdles in the way of building storage hydropower projects, as it is soon introducing a rule that would bar other development projects from framing implementation modalities that could obstruct construction of reservoirs, which store water for electricity generation.
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On March 2, leaders of top three political parties shared the platform of the Nepal Investment Summit 2017 to declare they were on the same page about increasing inflows of foreign investment into the country.
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The biggest investment summit held in Nepal in years concluded on Friday, drawing investment commitment of record $13.5 billion (approximately Rs 1,444.5 billion) from six countries, with China leading the pack.
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The biggest investment summit being held in the country is kicking off on Thursday, drawing around 300 foreign delegates, mostly investors, who are expected to express commitment to invest in sectors ranging from infrastructure and mining to tourism and agriculture.
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