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ADB Ventures provides Rs 14.7 million grant to Good Bricks System

KATHMANDU, OCTOBER 29 The Asian Development Bank (ADB)’s venture capital arm ADB Ventures has provided the Good Bricks System, a non-fired brickmaking solution in Nepal, a $125,000 (equivalent to Rs 14.7 million) grant to reduce…

Asian shares lower, US futures up after S&P 500 sinks 3.5%

Asian shares declined Thursday and US futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. The selling in US markets followed broad declines in Europe, where the French…

Dollar holds gains as COVID-19 surge boosts safe-haven demand

TOKYO: The dollar held gains against a basket of major currencies on Thursday as escalating coronavirus cases in Europe stoked fears across markets that fresh lockdowns would further hit the already fragile economic recovery. The…

A full arsenal of policies is needed to promote a solid recovery

As the coronavirus pandemic continues to hammer the world economy, lower income countries like Nepal are in a quandary about whether to allow all business activities to resume while risking a spread of the infection…

Govt entices cooperatives to buy paddy

KATHMANDU, OCTOBER 21 The government has decided to provide subsidies to the cooperatives that buy paddy from farmers. A Cabinet meeting held on Monday decided to provide subsidy worth of Rs 112 per quintal to…

Immigrants are still sending lots of money home despite the coronavirus job losses – for now

NEW YORK: Banks and aid agencies have been warning of a pandemic-related plunge in the amount of money sent by migrants to family back home who rely on the income. In a typical year, more…

New Nabil Bank chairman takes oath

KATHMANDU: Upendra Prasad Poudyal, the newly appointed chairman of Nabil Bank, took the oath of secrecy on Wednesday with Governor of Nepal Rastra Bank, Maha Prasad Adhikari. The ceremony was carried out virtually on digital…

Trade deficit narrows down nearly 25 per cent

KATHMANDU, OCTOBER 21 While the adverse impact of coronavirus has been witnessed on various sectors of the economy, it was more pronounced on external trade and credit expansion of banks and financial institutions (BFIs) in…

consumer price inflation at 4.52pc

KATHMANDU: The macroeconomic update unveiled by the Nepal Rastra Bank on Wednesday showed that the consumer price inflation (CPI) in the country accelerated to 4.52 per cent in the second month of this fiscal year…

Sugar imported by Salt Trading for festive season to arrive today

KATHMANDU, OCTOBER 20 Unlike the delays that used to occur in the previous years, sugar purchased by Salt Trading Corporation (STC) is all set to arrive on Wednesday. As per STC, around 2,500 tonnes of…