Business & Economy


Paper Factory In Nawalparasi Resumes After A Halt Of Two Years Wednesday, August 12th, 2020

N24 Staff Writer, KATHMANDU: A paper factory at Madhyabindu municipality in the district has resumed operation following a halt of two years. Established in 2075 B.S., the industry named Quality Paper Industries Pvt. Ltd. makes the use of paper wastes and local raw materials, said Suresh Kumar..

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UK-Nepal Trade And Investment Forum Formed Tuesday, August 11th, 2020

Krishna Prasad Sharma , KATHMANDU: A meeting of the entrepreneurs, business persons and investors of the United Kingdom held in London on August 5 and 10 has formed the United Kingdom-Nepal Trade and Investment Forum. The meeting presided over by the lawmaker of House of Lords of the UK and..

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China auto sales rise in July, as market regains momentum

BEIJING (AP):- China’s auto sales rose by 16.4% in July over a year earlier to 2.1 million units in a sign of sustained recovery for the industry’s biggest global market, an industry group said Tuesday. The China Association of Automobile Manufacturers reported that sales of passenger cars..

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Stocks rise on stimulus moves but US-China tensions simmer Monday, August 10th, 2020

By ELAINE KURTENBACH, AP:- Global shares advanced Monday after U.S. President Donald Trump issued executive orders to provide tax relief and stopgap unemployment benefits for Americans hit by the fallout from the coronavirus pandemic. Market gains were capped, however, after China announced..

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Corona’s Havoc In The Market And Business: Nepal

N24 Staff Writer, MAKWANPUR: The rush in Hetauda market in Makwanpur has decreased due to the increase in the number of people infected with corona. It has highly affected the business transactions. Although business firms, retail and wholesale shops and cooperatives are operating, there are..

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World donors demand change before money to rebuild Beirut Sunday, August 9th, 2020

By SARAH EL DEEB and SYLVIE CORBET, BEIRUT (AP):- World leaders and international organizations pledged nearly $300 million in emergency humanitarian aid to Beirut in the wake of the devastating explosion, but warned on Sunday that no money for rebuilding the capital will be made available until..

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Ireland-Nepal Chamber Of Commerce Formed

N24 Staff Writer, KATHMANDU: The 'Ireland-Nepal Chamber of Commerce' has been formed in chairmanship of Vincent Barry, a noted entrepreneur in Ireland. On a virtual event held yesterday, Nepali Ambassador to Ireland, Durga Bahadur Subedi made announcement for the same. The newly formed committee..

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India to ban imports of 101 items of military equipment

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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