BUSINESS

Nepal's Chaudhary Group (CG) has signed a deal worth about US$100 million with China's Huawei Technologies to bring 4G phone services to the country, CG's chief executive said, shrugging off U.S. security concerns about Huawei's products.Aiming to shake up Nepal's mobile phone market as Reliance Industries Ltd's Jio has done in India, CG…

South Korean Fast-food chain Lotteria is set to soon enter Nepali market, the company has signed a deal with Himalaya NK for franchise business.In presence of Industry, Commerce and Supplies Minister Matrika Yadav - Lotte GRS CEO Nam Ik- Woo and Himalaya NK Chairman Binod Kunwar signed the papers of MOU.The company plans to open two new…

Cable TV operators did not air any foreign pay channels on June 24 and 25 in what they called a protest against the Clean Feed Policy pitched by the government. The move comes nearly three years after the government first put forth the idea of Clean Feed in television broadcasting. The policy, introduced in 2016, will be implemented after the…

Gold price in Nepal jumped by Rs 1,000 per tola to hit an all-time high of Rs 64,000 on Thursday after a two-week streak of rising prices. The precious metal has been moving up since the budget statement was released on May 29 when the import duty was jacked up by Rs 800 per 10 grams. Gold become dearer by Rs 4,500 per tola in two weeks.…

Nepal and the United Arab Emirates (UAE) today inked the revised bilateral labour pact ensuring that UAE-based employers will bear all the costs related to recruitment, employment and residency of Nepali workers in the Gulf nation.Minister for Labour, Employment and Social Security Gokarna Bista and Minister for Human Resource and…

The Finnish government has formally proposed signing a bilateral air service agreement with Nepal following Finnair’s interest in operating direct flights to Kathmandu.Finnair is the national flag carrier and largest airline of Finland, headquartered in Vantaa on the premises of Helsinki Airport. A flight between Kathmandu and Helsinki is…

A high-level meeting between officials of Nepal Oil Corporation and Indian Oil Corporation will be held in the first week of July to set the date for official commencement of the cross-border petroleum project.As the pipe-laying process of the much-hyped Motihari-Amlekhgunj oil pipeline project has been completed, the two sides intend to…

People returning from abroad will be able to carry up to 250 grams of gold from next fiscal, against only 100 grams now.The changes introduced in the Economic Bill 2019 will come into effect from July 17. With this provision, the customs duty on gold for passengers will also increase.Passengers carrying up to 50 grams of gold will have…

Ncell Private Ltd., keeping its commitment in bringing cutting edge technologies to its customers, has expanded its fourth generation (4G)/long term evolution (LTE) service in over 1,000 plus locations across the country, further widening the coverage of Nepal’s widest 4G network.Ncell on Sunday (June 2) announced that it broaden its 4G…

As the 2019 ICC Cricket World Cup gets underway in England and Wales, the mega event has brought joy to an unlikely group: TV dealers in Kathmandu who say customers are flocking to buy new television sets and sending cash registers ringing.No authentic data is available, but executives at two major TV dealerships in the capital said that…