KATHMANDU: Finance Minister Shankar Prasad Koirala has said the government will take the issue of financial discipline with priority, as it has no compulsion to be faithful to any particular political party. Addressing the meeting of the Youth Self-Employment Fund board meeting here today, he suggested to give attention on transparency, as the understanding of the general public towards the fund is negative. Directing to keep the three-generation identity of the person taking loan from the Fund and keeping the background of the cooperatives in Website, he said time has come for reviewing t...
Published On: 2013-05-22

KATHMANDU: Newly appointed Australian ambassador to Nepal Glenn White called on Minister for Finance Shanker Koirala at the latter’s office, Singha Durbar on Wednesday. During the meeting, Minister Koirala reportedly urged the Aussie envoy to enlarge the market of Nepali products in Australia to control the trade loss of Nepal with Australia. According to the Koirala’s personal secretariat, Minister Koirala assured envoy White that elections, economic growth and development are the key objectives of the current government and sought the Australian assistance for the same. Als...
Published On: 2013-05-22

KATHMANDU: The domestic market saw the price of gold surge by Rs 1‚600 per tola (11.664 gram) as its price jumped up in the international market. The gold price reached Rs 50‚300 per tola‚ today‚ here as its price movement went through a key reversal reaching $1384 per ounce in the international market. The price had reached Rs 48‚700 per tola yesterday — a 22-month low. The fall in price did not give consumers any respite in the wedding season as traders either shut shop or refused to take orders at the current price citing 'shortage' of gold in the mark...
Published On: 2013-05-21

KATHMANDU: Tata Motors has asked customers to come and test drive the advanced and dynamic all new Tata Vista D90 at the ‘Vista D90 City Chase‚’ the ultimate treasure hunt competition‚ which is sponsored by Sipradi Trading and will be organised by Kathmandu College of Management‚ in Kathmandu‚ on May 25. The thrilling‚ day-long event‚ is open to cars of all brands and starts at 9:00 in the morning. "It will include overcoming obstacles‚ finding treasures‚ solving puzzles and completing pre-determined tasks as per clues given.&quo...
Published On: 2013-05-21

GOA: Amid great anticipation‚ Ford India has announced the full line-up and specifications for the all-new Ford EcoSport. The urban sport utility vehicle (SUV) combines the agility‚ affordability and fuel efficiency of a compact car with the versatility and spaciousness of an SUV. GO Ford — authorised distributor of Ford vehicles in the country — will be launching the Ford EcoSport in Nepal after bookings have begun in India in June. It will have a demo version of the vehicle at its showroom in Thapathali soon‚ it said. Based on Ford’s global B-segment pl...
Published On: 2013-05-21

KATHMANDU: The government reiterated its commitments in creating an investment friendly environment through regular policy revision and reforms. The parameters for Doing Business is one of the key benchmarks for reforms, said secretary at the Office of the Prime Minister and Council of Ministers Krishna Hari Baskota, addressing a workshop on ‘Doing Business in Nepal: Updates of Reforms undertaken in 2012-13 and Planned Reforms Initiatives,” jointly organised by IFC and the Office of the Prime Minister and Council of Ministers. “It will allow us to set targets and provide an...
Published On: 2013-05-20

KATHMANDU: Bank of Kathmandu (BoK) on Monday commenced the operation of three new branches in Gaur of Rautahat district, Dailekh of Dailekh district and Diktel of Khotang district. The Gaur, Dailekh and Diktel branches were inaugurated by the bank’s chairman Narendra Kumar Basnyat, director Govinda Prasad Sharma and director Dr Hem Raj Subedee, respectively amid separate functions. With the addition of three new branches Bank of Kathmandu now has a total of 50 branches, eight extension counters, 347 remittance payout agents and 56 ATM units throughout the country. Reliable starts servic...
Published On: 2013-05-20

KATHMANDU: Following the cue from international market, the gold price today further dropped to a 22-month low of Rs 48,697 per tola (11.664 gram) in the domestic market today. The regular price drop in the international market and strengthening of dollar has pulled the precious yellow metal price down in the domestic market, according to the Nepal Gold and Solver Dealers Association. The price has dropped yesterday — the first day of the week — by Rs 651 per tola, making it to Rs 49,099 per tola and the bearish trend in bullion seems to continue, it said, adding that the price o...
Published On: 2013-05-20

KATHMANDU: The next budget should focus on employment generation to check the massive migration, increasing productivity and import substitution by creating business-friendly environment, suggested the experts to the central bank during an interaction here. The budget for the next fiscal year 2013-14 should concentrate on business expansion linking market with the farmers, encourage youth towards agriculture, promote organic agriculture, organised land and farming system, incentivise production and exports, and reform tax rates, they suggested. They also recommended formulation of Assets Man...
Published On: 2013-05-20

KATHMANDU: The private sector representatives — under the initiative of National Business Initiative (NBI) — have today decided to unite against forceful donation, strikes, bandh and destructive activities during the coming election. As the country is heading towards election, the business community should be united against forceful donation terror, bandh, strikes and destructive activities like earlier years, concluded some two dozen entrepreneurs during an interaction on ‘Business Initiative for Free, Fair and Peaceful Election’ here today. The private sector should...
Published On: 2013-05-20