Stories By 'Rajesh Khanal'
Domestic sugar mills said they would be battling a glut in production in the next fiscal year and have started putting pressure on the government to continue the quantitative restriction on sugar imports imposed last year.
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Nepal Stock Exchange last week surged by 48.29 points to close at 1,232.31points, after investors rushed to purchase stocks with the expectation that listed companies could provide more dividends after they posted higher profits.
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Pashmina export revenues are going downhill even though the government has given the sector high priority because it is one of the country’s major export earners, said government officials at a programme on Friday.
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The Problematic Cooperatives Asset Management Committee filed a motion to vacate before the Supreme Court on Monday requesting it to annul its March 29 interim order allowing promoter Sudhir Basnet of troubled Oriental Cooperative to complete his Vegas City housing project to pay off his creditors.
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Nepal is losing out on a large amount of export revenue due to lack of value-added gem exports, said officials of the Department of Mines and Geology. Currently, traders export precious and semiprecious stones in their raw form for lack of investments in commercial production.
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Nepal’s trade deficit swelled 24.5 percent to Rs887.88 billion in the first eight months of the current fiscal year due to increased imports of petroleum products, readymade garments, aircraft spare parts and electrical goods.
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The Large Taxpayers Office on Tuesday set the capital gains tax for Ncell and Axiata at Rs62.63 billion and gave the company seven days to clear the dues.
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