Money

Number of five-star hotels in Nepal reaches 12

SANGAM PRASAIN, Feb 22 2019

The Soaltee Westend Premier, Nepalgunj and the Swiss International Hotel Sarowar, Pokhara have been awarded five and four stars respectively, bringing the number of hotels in the two categories to 12 and eight. According to Rajesh Kumar Lamsal, a Tourism Department official, the two hotels were awarded the star rating after assessing all the required criteria.
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Depositors asked to file compensation claims

RAJESH KHANAL, Feb 22 2019

The Problematic Cooperatives Asset Management Committee on Thursday asked the depositors of 10 cooperatives declared ‘troubled’ by the government to file compensation claims. The seven-member panel formed last year has been authorised to settle the liabilities of the cooperatives by liquidating their assets.
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Bankers criticise the central bank policies

BIBEK SUBEDI, Feb 21 2019

Bankers have denounced the central bank’s recently introduced policy which asked banks and financial institutions to adopt a new formula to calculate the spread rate at which they are allowed to operate by the regulator.
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Gas bottlers threaten to disrupt supply over commission dispute

RAJESH KHANAL, Feb 21 2019

Gas bottlers are putting pressure on the government to increase their commission by threatening to disrupt the supply of cooking gas if their demand is not fulfilled.
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Airport tax money not being spent as intended: Tourism Ministry

SANGAM PRASAIN, Feb 21 2019

The Tourism Ministry said Tribhuvan International Airport had not been spending the money collected as airport development tax as intended, warning that the scheme’s term may not be extended if it did not produce a strategic working plan.
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Professional network seeks to help women find jobs

Post Report, Feb 21 2019

The Asian Development Bank has announced a partnership with a new professional network to promote more female practitioners in South Asia’s energy and power sector.
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Central bank sets maximum interest rate spread at 4.5pc

RAJESH KHANAL, Feb 20 2019

Nepal Rastra Bank has directed commercial banks to maintain the spread rate at a maximum of 4.5 percent by the end of the current fiscal year ending mid-July. The central bank issued the directive through its mid-term review of the Monetary Policy released on Monday.
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Tanahu Hydropower Limitd terminates Italian group's contract

BIBEK SUBEDI, Feb 20 2019

Following the footsteps of Melamchi Water Supply Development Board, Tanahu Hydropower Limited — the developer of Tanahu Hydropower Project — has terminated the contract signed with Cooperativa Muratori e Cementisti di Ravenna
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Garment processing zone slated to be ready in April

KRISHANA PRASAIN, Feb 20 2019

The construction of Nepal’s first garment processing zone is expected to be complete in April.
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Demand for gaming focused laptops red hot

KRISHANA PRASAIN, Feb 20 2019

The demand for powerful computers in Nepal is spiking as customers look to use such devices for work and gaming.
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Drive off in a Nissan Kicks for Rs4.79m

Post Report, Feb 19 2019

Pioneer Moto Corp, the authorised distributor of Nissan in Nepal, launched its much-awaited intelligent SUV—the new Nissan Kicks—in the Nepali market on Monday.
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Experts weigh pros and cons of mass tourism

SANGAM PRASAIN, Feb 19 2019

Nepal’s natural beauty, diverse wildlife and wealth of pilgrimage sites can be a huge draw in the global tourism market, and this should be the marketing mantra for the Visit Nepal campaign version 3.0. The third edition of the promotion slated for 2020 has the goal of attracting 2 million foreign tourists, hospitality industry analysts said at Monday’s Kantipur Conclave.
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