Case filed against Coca Cola for tax evasion of Rs. 3.71 billion

The DRI filed the case at the Patan High Court today charging the Bottlers Nepal Limited, a Coca-cola franchise holder in Nepal, of tax evasion of Rs. 3.71 billion and the same amount as fine.

Meeting of secretary-level joint taskforce of Nepal, India concludes

The meeting discussed various issues including smooth supply of petroleum products, expansion of Amalekhgunj-Chitwan and Siliguri-Jhapa petroleum pipeline, security management of Motihari- Amalekhgunj pipeline, and renewal of petroleum products supply agreement between NOC and Indian Oil Corporation

Government to ensure smooth flow of trade with China: Foreign Minister

Stating that there were some problems with major trade ports with China due to the COVID-19 pandemic and China responded positively to solve them, he said, "Direct contacts have been established between the local authorities of the two countries for smooth communication and coordination at the procedural level of import and export."

Govt to provide NOC with 4 billion 250 million for fuel purchase

Prior to this, Rs 1.80 billion was provided to the corporation from the stabilization fund in January. Spokesperson Binit Mani Upadhyaya said that the decision of the government to provide funds to the NOC would help in keeping the supply of petroleum products smooth.

Prospects, future development trend of China-Thailand relations

As the tourism industry is a pillar industry in Thailand, the contribution of Chinese tourists to Thailand’s tourism revenue accounts for more than 25% of Thailand’s total tourism revenue.

Bird flu in Bhaktapur

Assistant Chief District Officer and Information Officer Madhav Prasad Sharma informed that the meeting decided to destroy the fowls, eggs, waste, and feed inside the demarcated area- Ajima Brick Factory en route to the Araniko Highway, roadway near Shikhar Poultry Farm in the north, the northern border of the Araniko Highway in the south, and the way en route to Panityanki in the north.

Russian banks plan to issue co-badged Mir-UnionPay cards due to sanctions

Some Russian banks are saying they will possibly issue co-badged cards linking Russia’s Mir and China’s UnionPay systems that will provide the option of payment for purchases and cash withdrawals abroad.

Minister Ale urged to take initiative for resumption of Kathmandu-Moscow direct flight

Non-resident trade representative of Russia Alexander Rybas paid a courtesy call on Minister for Culture, Tourism and Civil Aviation, Prem Bahadur Ale. During the meeting held at the Ministry on Wednesday, Rybas urged Minister Ale to take initiative for conducting direct flight between Kathmandu and Moscow.

Nepal welcomes Indian investment, assures working capital borrow at reasonable interest rate: Governor Adhikari

Governor Adhikari said so while addressing the 'Roundtable on Managing Working Capital in Nepal and India' hosted by of PHD Chamber of commerce and Industry (PHDCCI) India-Nepal Centre.

Commercial banks lending up by 12%, deposit by 3%

The data showed that deposits marginally rose by 3.7 per cent. The amount of deposit recorded on February 18 was Rs. 4312 billion, which was Rs. 4158 on July 23. The amount of deposit went up merely by Rs. 154 billion.

Nepal records 88.30 percent rise in export

According to the statistic unveiled by the Department of Customs here today, the export of domestically produces goods stood at 88.30 per cent. The export during this period amounted to around Rs 131 billion against over Rs 69.91 billion during the correspondent period of the previous fiscal year.

Airbus to deliver 600th China-assembled A320 family aircraft in 2022

By now, the Airbus Asia final assembly line in Tianjin can work on the A319 and A320 aircraft of the A320 family. After completing the adaptation work, the production facility here will also conduct the final assembly on A321 aircraft, the largest member of the family.

First ever Nepal manufactured anti-cancer drug

A factory set up in Kavrepalanchowk district after inking a technology transfer agreement with Indian pharmaceutical company -SP Accure Labs has begun manufacturing the drug in tablet and capsule form.

NNPs share only 24% of Capex as execution challenges remain the same

The Half Yearly Evaluation Report of the budget expenditure 2021/22 released by the Ministry of Finance (MoF) showed that Rs 48.4 billion in aggregate is spent for capital expenditure in the current FY in which the capital expenditure of Rs 11.6 (24%) is spent to progress the works of the national pride projects (NNP).

Price of Milk increased

As per the Board decision, the price hike is however different based on locations. Accordingly, Rs 85 is fixed for the Kathmandu Valley, Hetauda, Biratnagar and Janakpur cities, while Rs 81 for Butwal and Bhairahawa cities, and Rs 79 in Nepalgunj and Dhangadhi.

Persistence stress in external sector as BoP deficit hits Rs. 241.23 billion

The Nepal Rastra Bank (NRB) report showed that the excessive imports and slide in remittance led to the BoP deficit in the first six months of the current fiscal year (FY). The report showed that imports increased by 51.1per cent and remittance decreased by 5.5 in the NPR term.

This is why MCC transmission line seems crucial

Three substations will be constructed at Lapsiphedi, Ratamata, and Damauli with USD 400 million grant to be provided under the Millennium Challenge Corporation (MCC). The substation at Ratamata in Nuwakot district will connect to the proposed 400 KV Rasuwagadhi-Kerung transmission line.

Liquidity shortage will not affect economic growth: Khanal

Only if the situation gets worse, the government could use a stimulus package. However, the current situation is not like that. In addition to it, the government has not been able to spend expenditures envisaged in the budget.

Minister Ale urges EU for lifting Nepal from ‘air safety list’

During a meeting with EU Delegation Ambassador for Nepal Nona Deprez today, the Minister said Nepal was doing its best to get removed from the list and to further improve its air service and was fully committed to air safety.

Processes to extract iron from Dhauwadi at final phase, 20mln tons of iron to be extracted

With a view to extracting iron from the mines at Dhauwadi, the government has established Dhauwadi Iron Company Limited. The office of the company at present is located at the premises of the Department of Mines and Geology, Lainchaur, Kathmandu.