Money

Tighter checks for importers producing fake documents: Customs Department

Rajesh Khanal, Jan 24 2019

With an increasing number of traders producing fake details on imported goods, the Department of Customs has warned that it may put around 67 percent of these goods under the red customs clearance channel.
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Integrated check post hindered by bad road

Post Report, Jan 24 2019

Nepal’s only integrated check post in Birgunj, Parsa district is not functioning at full capacity even one and a half years after opening due to delays in widening the road linking it to the dry port.
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Nepal Airlines to auction last B757 after engine overhaul

SANGAM PRASAIN, Jan 23 2019

Nepal Airlines Corporation will retire its last Boeing 757 after doing an engine overhaul, technically known as C-check, as this can significantly affect the aircraft’s resale value.
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Authorities clamp down on poultry smuggling

SHIVA PURI, Jan 23 2019

Local authorities are clamping down on poultry smuggling from India which has grown in recent years.
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Digital distribution lifts Nepali film industry

KRISHANA PRASAIN, Jan 23 2019

The advent of digital distribution over a decade ago has shaped Nepal’s film industry into a nearly Rs1 billion behemoth, according to some experts.
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Buddhist Circuit fixed departure tours slated to launch mid-July

Post Report, Jan 22 2019

Buddhist Circuits.com announced starting Buddhist Circuit fixed departure tours from the Full Moon Day on July 16. “Buddhist Circuit tours have been designed for those who want to follow the route taken by the Buddha from his birthplace,” said Bikram Pandey, president of Buddhist Circuits.com.
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Salt Trading to buy 20,000 tonnes of sugar for buffer stock

Rajesh Khanal, Jan 22 2019

Salt Trading Corporation has decided to buy 20,000 tonnes of sugar from domestic producers with the objective of maintaining intervention stocks. It will sell sugar from its stores to stabilise market prices if they should fluctuate widely.
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Nepal, India air route talks keep going round in circles

SANGAM PRASAIN, Jan 22 2019

Nepal and India made little progress at the highly anticipated air route talks held in Mumbai, India last week. Nepal has been badgering the southern neighbour to grant air entry points through the L626 Mahendranagar route and Nepalgunj to facilitate aircraft movement to the two upcoming international airports in Bhairahawa and Pokhara.
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Two oil pumps found guilty of tampering

Post Report, Jan 21 2019

Nepal Bureau of Standards and Metrology has barred two petrol pumps based in Kathmandu, Maitidevi Oil Stores and Chuchhepati Oil Stores, from conducting their business after they were found tampering the official seal imposed on fuel dispensers of the gasoline stations. 
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Arun III Hydropower Project about 15 percent complete

DEO NARAYAN SAH, Jan 21 2019

The Arun III Hydropower Project in eastern Nepal is about 15 percent complete. Construction of the $1.4 billion plant began on May 12 last year. India’s SJVN Arun III Power Development Company is building the 900 MW run-of-the-river type project on the Arun River in Sankhuwasabha district.
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Central bank issues notice on Indian notes ban

Post Report, Jan 21 2019

Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs100.
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Coffee imports value 42pc more than value of exports

Rajesh Khanal, Jan 21 2019

The value of Nepal’s coffee imports exceeded the value of its coffee exports by 42 percent in the last fiscal year 2017-18. According to the National Tea and Coffee Development Board, the country earned Rs65.89 million by exporting 163 tonnes of roasted coffee beans while it spent Rs93.72 million on importing 84 tonnes of instant coffee.
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