BUSINESS

Nepal Electricity Authority (NEA)’s profit surged by an eye-popping 148.27 per cent as the state power utility earned Rs 7.20 billion in profit in the last fiscal year.NEA was able to generate profit due to the end to load-shedding, reduction in the average price of imported and domestic electricity, control of administration and technical…

The price of gold continues setting a new record in the domestic market.The price of yellow metal increased by Rs 200 on Tuesday and reached Rs 68,000 per tola, to set again record an all-time high according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). This has slowed down the selling of the metal at a time…

Raj Brewery Pvt Ltd has entered into an exclusive partnership with Anheuser-Busch InBev, the world’s leading brewer, to produce and bottle some of the best known beer brands in the world.Raj Brewery is Nepal’s most technologically advanced brewery approved by renowned global brew masters of AB InBev and Warsteiner International.The…

Nepal Airlines Corporation (NAC) has acquired permission from the concerned Japanese authority to conduct two chartered flights to the Narita International Airport in Tokyo.Issuing a press statement today, the national flag carrier stated that the chartered flights to Narita will be crucial to promote country’s tourism in the Japanese…

Cellcom Pvt Ltd has started operation of payment service named Cellpay. Issuing a statement, the company, which is licensed by the Nepal Rastra Bank to work as a payment service provider, said that Cellpay can easily be operated with its mobile and web application without any e-wallet.It provides services of payments and fund transfers…

IDC Analytical Agency published the final results of global smartphone shipments in the second quarter of this year. The highlight of the report was, the overall decline in the market volume by 2.3% when compared to the same period in 2018.In total, during the reporting period, 333.2 million smartphones were sold - 6.5% more than in the…

Nepal Rastra Bank is imposing a credit ceiling on the loan amount that banks can offer to customers seeking auto loans by assessing the individuals’ earnings. The move was imposed via the newly introduced monetary policy, which was introduced last Wednesday. According to the central bank, the maximum threshold on auto loans will be based on the…

Nepal Airlines Corporation (NAC) has opened bookings for Kathmandu-Osaka-Kathmandu flights.The state-owned carrier is launching its scheduled flight to Osaka from August 29. NAC had earlier announced to start Osaka flights from July 5. However, it postponed the maiden flight to August 29, citing poor bookings.NAC will operate Osaka…

Nepal Rastra Bank today unveiled Monetary Policy for fiscal year 2019-20, with optimum focus on addressing issues of loan-able funds crunch and credit growth in priority sector.The Monetary Policy, which was unveiled by NRB Governor Chiranjibi Nepal, has made it mandatory for commercial banks to issue debentures/corporate bonds amounting to…

Union Pay International, a Chinese payment service provider, has been issued a licence by Nepal Rastra Bank to facilitate transactions with business sectors located in China.Payment system providers are systems established with the objective of processing, routing/switching, operation, control and clearing of payment related activities.…