Business | Market | Economy
Nepal’s Trade Deficit Reaches Rs 1337 Billion in 11 Months
In the 11 months of the fiscal year 2080/081 BS, Nepal’s trade deficit has reached Rs 1337.39 billion. According to the data released by the Department of Customs, imports amounted to approximately Rs 1481 billion, while exports stood at Rs 143.58 billion until the end of the month Jestha. However, it is important to […]
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Sana Kisan Bikas Laghubitta and RMDC Laghubitta Joint Transaction Begins on Ashad 24
Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited (SKBBL) and RMDC Laghubitta Bittiya Sanstha Limited (RMDC), both licensed financial institutions in Nepal, have successfully completed their merger process. The merger was approved through a special resolution passed separately by the Annual General Meetings (AGMs) of both companies. The swap ratio of 1:0.87 was endorsed, meaning that […]
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Surge in Electric Vehicle Imports Impacts Government Revenue in Jestha
The import of electric vehicles in the month of Jestha saw a significant rise, with 3,800 units being imported. This increase in import numbers was observed as businesses are increasingly turning to electric vehicles due to challenges in importing petroleum vehicles. The customs department provided statistics indicating that the import consisted of electric cars, […]
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Iwa Khola Hydropower Project Faces Disruption in Commercial Electricity Production Due to Flood Damage
The Iwa Khola Hydropower Project, with a capacity of 9.9 MW and operated by Ridi Power Company Limited (RIDI), is currently facing disruptions in its commercial electricity production. The interruption is a result of damages caused by recent floods in the area. RIDI released a press statement informing that both units of the Iwa Khola […]
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“Non-life Insurers Resume Agro Insurance Sales Until Asar End; Threaten Halt if Subsidy Disbursement Fails”
Non-life insurance companies in Nepal have decided to restart selling agro insurance policies until the end of Asar 2080, responding to persistent requests from the government and farmers. However, these companies have cautioned the government that they will stop issuing policies if the subsidy amount is not paid within the specified timeframe, according to […]
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SEBON Chairman Hamal accuses 50 brokers of consuming up to 70% profit.
During a recent Finance Committee meeting, Chairman Ramesh Kumar Hamal of the Securities Board of Nepal (SEBON) accused a group of 50 brokers of taking away a significant portion, around 70%, of the profits. Chairman Hamal mentioned that he has addressed the investors’ demands over the past 15 years. Chairman Hamal highlighted that the […]
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Kathmandu Metropolis Exceeds Rs. 8 Arba Revenue, Reaching 79% of Target
Kathmandu Metropolitan City (KMC) has been successful in collecting revenue amounting to Rs. 8 Arba during the 11 months of the current financial year. Dhruv Kafle, who heads the Revenue Department, mentioned that the collected amount of Rs. 8 Arba 29 crores 95 lakhs 59 thousand 278 came from internal income, revenue distribution, and […]
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Kumari Bank Limited to Auction Promoter Shares to Existing Promoter Shareholders
Kumari Bank Limited (KBL) has announced an auction of 2,68,949 units of shares to existing promoter shareholders, starting from today, the 31st of Jestha, 2080. The auction is exclusively open to the existing promoters of KBL, who will have a period of 35 days from the date of this notice to submit their bids. Eligible […]
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National Microfinance Laghubitta Bittiya Sanstha Bonus Shares Distributed to Shareholders
National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) has recently distributed 15% bonus shares directly to the DEMAT accounts of its shareholders. The company has encouraged its shareholders to dematerialize their shares in order to facilitate the distribution process. During the company’s 9th Annual General Meeting held on 15th Baisakh, a 15% dividend for the fiscal […]
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Himalayan Reinsurance Limited Reports Impressive Q3 Results
Himalayan Reinsurance Limited (HRL) has released its third-quarter financial report for the ongoing fiscal year 2079/80, showcasing a net profit of Rs. 25.44 crores. This marks an increase compared to the corresponding quarter of the previous fiscal year when the company earned Rs. 19.64 crores. Notably, HRL has experienced a significant surge in net premium, […]
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