Business & Economy


India to ban imports of 101 items of military equipment Sunday, August 9th, 2020

NEW DELHI:  India said Sunday that it will ban the imports of 101 items of military equipment in an effort to boost local production and improve self-reliance in weapons manufacturing. Defense Minister Rajnath Singh said the government is planning to progressively implement the embargo on select..

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COVID-19 Impact: CAAN’s Income Down By 43 Percent Saturday, August 8th, 2020

N24 Staff Writer, KATHMANDU: The Civil Aviation Authority of Nepal (CAAN) has recorded 43 per cent decline in its annual income owing to the COVID-19 pandemic. With declined income, the CAAN has failed to launch its planned activities. The annual progress report released by the CAAN stated that it..

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Toyota Forecasts 64 percent Drop In FY 2020 Net Profit Thursday, August 6th, 2020

TOKYO, (Xinhua): Toyota Motor Corp. said on Thursday, it expects its net profit to drop 64.1 percent to 730 billion yen (6.92 billion U.S. dollars) in the current business year starting in April, as the global COVID-19 pandemic continues to stifle demand. Toyota said its net profit fell 74.3..

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Virus-Hit Philippine Economy Plunges Into Recession

MANILA (AFP): The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdown that have wrecked businesses and thrown millions out of work. Gross domestic product shrank 16.5 percent on-year in the..

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Ncell Now A Public Company: Nepal Wednesday, August 5th, 2020

N24 Staff Writer, KATHMANDU: Ncell, country's one of the largest and most profitable telecommunications service provider, has been transformed from private company into a public company. As per the decision of the Ministry of Industry, Commerce and Supplies and the Office of the Registrar of..

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Asian shares fall on jitters over US stimulus, China trade Tuesday, August 4th, 2020

By JOE, BEIJING: Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. Market benchmarks in Shanghai, Tokyo, Hong Kong, and Sydney declined. Investors are watching the stalemate among U.S. legislators over employment..

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EasyJet dives into loss but upbeat on recovery

LONDON, (AFP):- EasyJet flew into an expected loss during its third quarter as the coronavirus pandemic kept the bulk of planes grounded, the British no-frills airline announced Tuesday. The group reported a pre-tax loss of £324.5 million ($419 million, 355 million euros) in the three months to..

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Sushil Bhatta Appointed CEO Of Investment Board Nepal Monday, August 3rd, 2020

KATHMANDU:- Nepal Government Monday appointed Sushil Bhatta as the chief executive officer (CEO) of Investment Board Nepal (IBN). A meeting of the Council of Ministers held at the official residence of Prime Minister KP Sharma Oli this evening took the decision, according to Minister for Energy,..

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NOC Hikes Price of Petroleum Products: Nepal Saturday, August 1st, 2020

N24 Staff Writer, KATHMANDU: Nepal Oil Corporation, the state-owned trading company, has increased price of petroleum products. However, the price of aviation fuel and cooking gas has not remained intact. As per the revised price list that would be effective from Saturday midnight, a litre petrol..

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Central Bank of Nepal to Facilitate BFIs for Mergers Monday, July 27th, 2020

N24 Staff Writer, KATHMANDU: Nepal Rastra Bank (NRB) has announced its policy to further facilitate the banks and financial institutions (BFIs) for their acquisition and merger. Issuing a new directive on Monday, the central bank of Nepal has prioritized the concept of acquisition and merger of big..

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