BUSINESS

The demand for scooters has been skyrocketing in recent years due to growing urbanisation and inadequate public transport facilities for daily commutes. Scooters have become one of the easiest means of transportation in the country and are becoming a necessity in every family due to its easy to ride nature and ability to carry goods, said a…

With the Japanese government on Tuesday endorsing its basic policy on a new visa system to encourage the entry of more foreign workers, Nepalis also will now be able to go to Japan on work visas. The new visa policy endorsed by the Japanese cabinet on Tuesday applies to workers from nine Asian countries including Nepal. Workers from these…

Nepal’s biggest shopping mall Chhaya Centre formally opened on Tuesday. Built in the tourist hotspot of Thamel, the luxurious mall is spread over an area of 86,000 sq ft with a built-up area of 350,000 sq ft. It houses more than 200 retail stores representing various international and local brands. It is also home to a five-star hotel…

The internet service providers (ISPs) have urged the government to raise the price of internet services from January. Citing that government had failed to implement various commitments it had made to ISPs earlier, they have submitted a letter to Ministry of Communications and Information Technology asking the government to increase internet…

Car buyers are gradually gravitating towards sports utility vehicles (SUVs) in Nepal, following a similar trend in the global market. In just three years, SUVs have managed to gain nearly half of the market share. According to domestic automobile dealers, hatchback vehicles used to be king in Nepal, holding the lion’s share of the market at…

Owing to pressure from Nepal Rastra Bank (NRB) and the government, Nepal Bankers’ Association (NBA) — the umbrella organisation representing 28 commercial banks of Nepal — has decided to cap the interest rate on savings, individual fixed deposits and institutional fixed deposits. The NBA meeting today decided to cap interest rate on savings…

The ninth edition of the NEEK Electro Tech 2018 has begun here today. Organised by the Federation of Electrical Entrepreneurs of Nepal, the six days long Expo aims to spread awareness of the use of electrical materials, said the organiser. More than 75 stalls have been set up, while over 100,000 visitors are expected to attend the Expo.…

Commercial banks launched another interest rate war even as the Finance Ministry is studying the impact of rising interest rates on deposits. Soaring interest rates have been blamed for sending stocks into free fall. The Nepal Stock Exchange (Nepse) index, which had recovered slightly last week, posted another double-digit plunge on Tuesday.…

Sales of premium bikes in the country have been gradually picking up in recent years. The performance offered by such bikes is one of the main reasons for the rise in popularity among customers, said domestic two-wheeler dealers. According to them, the market for premium bikes (150 cc) has been growing by seven percent annually. It now…

‘Feel Everything, See Nothing’, states the communication of Jawalakhel Group of Industries (JGI) with its latest release of Ruslan Ultra Premium Vodka, also positioned in the market as the world’s clearest vodka. Ruslan Ultra Premium Vodka conforms to the highest standards of purity, the finest Russian filtration technology and multiple…

Chivas, which believes that blended is better, in life and in Scotch, has launched Chivas XV, a 15-year-old blend the company says is made for celebrations. Chivas XV is the latest addition to the Chivas portfolio and is set to bring Scotch to moments of celebration around the world. Continuing Chivas’ tradition for expert blending, Chivas…

Of late, the trend of online shopping is gaining momentum in the country. According to e-commerce traders, e-commerce businesses in Nepal conduct transactions worth $25 million a year. People are increasingly choosing to shop online as opposed to the traditional way of shopping, which is fraught with inconveniences such as dealing with large…

Sales of winter clothes start to rise as the mercury plunges, and the recent shivery weather proved a bonanza for sellers of jackets, sweaters, mufflers and gloves. The Meteorological Forecast Division reported that Monday was the coldest day of the year so far in the Kathmandu Valley. On Thursday morning, the minimum temperature reached…

A ballooning current account deficit due to increasing imports and weakening exports has taken a toll on Nepal’s vulnerable external sector with officials saying that the existing foreign currency reserves won’t be able to sustain imports for longer than eight months. The current reserve of $9.56 billion will only be enough to finance…

Nepali consumers have more than one reason to shiver this winter. Winter electronic home appliances have become 10 percent dearer this year due to a stronger dollar, traders said. Demand for consumer electronic products like room heater, electric kettle and jug, gas geyser, thermos and hot pot has surged as winter has set in and there is…

As smartphone manufacturers continue to cram the latest and greatest technological innovations in a bid to win market share, customers can be overwhelmed by the wide range of options available in the local market. Coupled with the insatiable demand for smartphones in Nepal, companies are more than happy to launch their latest smartphones in…