Stories By 'Rajesh Khanal'
Nepal Stock Exchange shrank 5.27 points to close at 1,264.36 points last week, as investors remained in a wait-and-watch mode, expecting the market to surge with the beginning of the new fiscal year which begins from July 17.
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In a bid to curb the flow of black money into the stock market, the Securities Board of Nepal has told stakeholders to abide strictly by the new anti-money laundering measures. The board issued the notice on Friday.
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The government has not formulated effective policy to prevent insider trading which is eroding public confidence and impeding the growth of the country’s capital market, stock analysts said on Tuesday.
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The Department of Revenue Investigation has filed cases against 238 individuals on the charge of tax evasion in various district courts, seeking Rs18.32 billion in fines and amount in question plus up to three years’ imprisonment.
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The government has introduced a new rule that makes it mandatory for customers to receive the value added tax bill after purchasing goods. If they don’t, they will be liable to pay a fine of Rs1,000 per transaction.
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Nepal Stock Exchange (NEPSE) plunged 14.96 points to close at 1,269.63 points last week, after banks reported a shortfall of loanable funds which sent investors fleeing.
With a downfall in the index, the average daily turnover also slipped to Rs507.21 million from Rs689.06 million in the previous week.
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