Category: Business | Market | Economy

  • “API Power Begins 40% Right Share Issue Today”

    “API Power Begins 40% Right Share Issue Today”


     

    API Power Company Limited (API) has initiated the sale of right shares, beginning today (Shrawan 31), which represents 40 percent of its current paid-up capital. The company’s plan involves offering 4 new shares for every 10 existing shares held. This means a total of 16,533,137 right shares will be available, each priced at Rs. 100.

    To facilitate this right share issuance, the company recently completed its book closure on Ashad 22. Shareholders are now eligible to apply for these right shares until the 19th of Bhadra.

  • “Nabil Bank Launches Nabil Dhukka Ghar Karja with 10.99% Fixed Interest Rate and 70% Property Value Loan”

    “Nabil Bank Launches Nabil Dhukka Ghar Karja with 10.99% Fixed Interest Rate and 70% Property Value Loan”


     

    Nabil Bank is introducing an attractive option for home loans, presenting two competitive fixed interest rate choices: 10.99% for a 7-year term and 11.99% for a 10-year term. Homeowners often worry about fluctuating rates impacting their monthly payments, as explained by Chadani Shrestha, Head of the Personal Lending Unit at Nabil Bank. To address this concern, the bank has launched the ‘Nabil Dhukka Ghar Karja’ scheme, offering homeowners peace of mind with stable and affordable fixed rates throughout the loan period.

    Under the ‘Nabil Dhukka Ghar Karja’ plan, first-time homebuyers can benefit from financing up to 70% of the property’s value, while others can secure up to 60% financing. The loan process is designed to be hassle-free and convenient for all applicants.

  • “CHCL Earns Rs. 69.45 Crores in Q4 of FY 79-80; Decline in Profits Linked to Reduced River Flow”

    “CHCL Earns Rs. 69.45 Crores in Q4 of FY 79-80; Decline in Profits Linked to Reduced River Flow”


     

    Chilime Hydro Power Company Limited (CHCL) has released its fourth-quarter report for the recently concluded financial year 2079-80, showing a nearly 8 percent decrease in Net Profits. In the final quarter of FY 2079-80, the company recorded profits of Rs. 69.45 crores, down from Rs. 75.42 crores in the same quarter of FY 2078-79.

    The primary revenue source for hydropower companies, the Revenue from the Sale of Electricity, also experienced a decline of 4.49 percent for CHCL, totaling Rs. 1.12 Arba in the last quarter of FY 2079-80.

  • “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”

    “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”


     

    Kumari Bank has partnered with Classic Industries to offer a generous 15% discount on mattresses to their cardholders and mobile banking users. This special deal aims to benefit customers making purchases from the company.

    Kumari Bank operates through an extensive network comprising 304 branches, 307 ATM outlets, 63 branchless banking units, and 49 extension counters, providing widespread access and convenience for its customers.

     

  • “Kalika Laghubitta Q4 Report: 64% Net Profit Drop, Bad Loan at 4.13%”

    “Kalika Laghubitta Q4 Report: 64% Net Profit Drop, Bad Loan at 4.13%”


     

    Kalika Laghubitta Bittiya Sanstha Limited (KMCDB) has released its fourth-quarter report for the recently concluded financial year 2079-80. The report shows a significant drop of 64.01 percent in its Net profits compared to the same period in the previous fiscal year 2078-79. In specific numbers, the company earned only Rs. 4.62 crores, a notable decline from Rs. 12.84 crores.

    The company has experienced losses in two key areas: Net Interest Income and Operating Profits. Net Interest Income saw a decrease of 13.48 percent, while Operating Profits plummeted by 64.04 percent. Throughout the entire financial year 2079-80, the company generated a core business revenue of Rs. 25.50 crores and managed to accumulate Rs. 6.60 crores in Operating profits.

  • “Final Day for Eligibility: Upper Tamakoshi Hydropower 1:1 Rights Offering”

    “Final Day for Eligibility: Upper Tamakoshi Hydropower 1:1 Rights Offering”


    Today marks the final opportunity for eligibility in the rights offering of Upper Tamakoshi Hydropower Limited (UPPER).

    The company plans to distribute 100% right shares by releasing 105,900,000 (1:1) units of right shares to its current shareholders. Currently, the company’s paid-up capital stands at Rs. 10.59 Arba. With the implementation of the intended right share, the company’s paid-up capital will surge to Rs. 21.18 Arba.

     

  • “Nepal Telecom Reports 10 Lakh Rupees Recharge Card Loss, Issues Notice”

    “Nepal Telecom Reports 10 Lakh Rupees Recharge Card Loss, Issues Notice”


     

    Nepal Telecom has announced that they have experienced a loss of around 10 lakh rupees due to missing recharge cards. These cards, valued at 50 rupees each, vanished while being transported from Kathmandu to Bhairahwa. The incident was revealed by Nepal Telecom’s Wireless Services Directorate located at Babarmahal.

  • “Government Approves Cyber Security Policy for Digital Safety”

    “Government Approves Cyber Security Policy for Digital Safety”


     

    During a Cabinet meeting on Tuesday, a significant decision was made to approve the Cyber Security Policy 2080. This step, confirmed by the Ministry of Communication and Information Technology, sets the stage for the upcoming Cyber Security Bill. The government aims to create a secure and advanced cyber environment in the country with this policy.

    With this policy in place, the Ministry expects to play a crucial role in strengthening the nation’s information and technology systems. They plan to achieve this through various methods and workforce development. This includes establishing strong laws and institutions, increasing public awareness, and promoting skill-building. Before being officially adopted, the policy draft received input and feedback from various stakeholders.

  • “Nepal Rastra Bank Eases Import Regulations”

    “Nepal Rastra Bank Eases Import Regulations”


     

    A Letter of Credit (LC) is a crucial financial tool in global trade that ensures a secure exchange of goods and payments between international buyers and sellers. Functioning as a guarantee from the buyer’s bank, the LC assures the seller of payment upon meeting specified conditions, including delivering goods and providing necessary documents. This system offers protection to both parties by reducing risks linked to non-payment and non-delivery, playing a vital role in enabling reliable cross-border transactions.

    Nepal Rastra Bank has taken steps to streamline import processes, aiming to simplify trade activities. In a recent comprehensive announcement, the central bank has increased the limit for Letters of Credit (LCs) used for importing goods.

     

  • “Deadline Extended for ‘9% Nepal SBI Bank Debenture 2089’; New Closing Date Set for Shrawan 31”

    “Deadline Extended for ‘9% Nepal SBI Bank Debenture 2089’; New Closing Date Set for Shrawan 31”


     

    Nepal SBI Bank Limited (SBI) has decided to extend the public offering period for the “9% Nepal SBI Bank Debenture 2089.” The initial opening of the offering took place on the 18th of Shrawan, 2080, and the original closing date was today, the 22nd of Shrawan. As the offering has not garnered complete subscription, the deadline has now been pushed back to the 31st of Shrawan.

    In this offering, a total of 20 lakh units are up for grabs, each priced at Rs. 1000. Among these, 12 lakh units (60% of the total) will be allocated through private placement, while the remaining 8 lakh units, valued at Rs. 80 Crores, are available for public subscription. Of this public portion, 5% is set aside for mutual funds. The issuance aims to raise a total of Rs. 2 Arba.

  • “Global IME Bank Records Impressive Q4 FY 79-80: Core Business Growth Drives Rs. 7.25 Arba Net Profit”

    “Global IME Bank Records Impressive Q4 FY 79-80: Core Business Growth Drives Rs. 7.25 Arba Net Profit”


     

    Global IME Bank Limited (GBIME) has released its fourth quarter report for the fiscal year 2079-80, revealing a significant rise in Net Profit to Rs. 7.25 Arba, marking a 46.26 percent increase from the previous year’s Rs. 4.95 Arba during the same period. The bank has seen notable growth in both Net Interest Income and Operating Profit, which have surged by 66.37 percent and 40.57 percent, respectively. GBIME achieved a total core business revenue of Rs. 17.11 Arba in FY 2079-80, contributing to an Operating Profit of Rs. 10.10 Arba up to the same period.

     

  • “Sanima Bank Q4 FY 2079-80 Report: Net Profits Surge 25%, Distributable Profit per Share Soars to Rs. 17.73”

    “Sanima Bank Q4 FY 2079-80 Report: Net Profits Surge 25%, Distributable Profit per Share Soars to Rs. 17.73”


     

    Sanima Bank Limited (SANIMA) has released its fourth-quarter report for the fiscal year 2079-80, showcasing an impressive 25 percent rise in Net Profits. By the end of FY 2079-80, the bank achieved a significant milestone, earning Rs. 2.61 Arba, a substantial increase compared to the Rs. 1.24 Arba earned in the same quarter of FY 2078-79.

    The bank has seen remarkable growth in both Net Interest Income and Operating Profits, experiencing a substantial 39.50 percent and 27.96 percent increase, respectively. In the final quarter of FY 2079-80, Sanima Bank generated Rs. 6.48 Arba in core business revenue and Rs. 3.78 Arba in operating profit.