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Wednesday, June 2, 2021
Wednesday, March 5, 2014
Nepali tycoon Binod Chaudhary $ 100 million richer
The ranks of the world’s billionaires continue to swell new heights–and stretch to new corners of the world. According to Forbes magazine world wealth tycoon found 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago. Forbes record 268 new ten-figure fortunes, including 42 new women billionaires, another record. In total, there are 172 women on the list, more than ever before and up from 138 last year.
Saturday, March 1, 2014
Iron and steel products top Nepal’s export charts
March 1, 2014
Nepal earned Rs 6.26 billion amount in the first half of the current fiscal year from the largest export of Iron and steel products.
According to the Trade and Export Promotion Center (TEPC), exports of iron and steel products expanded 5.6 percent compared to the same fiscal year of last year. In the first half of 2012-13, Nepal exported iron and steel product worth Rs 5.94 billion and this year it is Rs 6.26 billion (Rs 6.26- Rs 5.94= 0.32 billion).
Raw materials are imported from foreign countries but the foreign demands are increasing due to cheaper and superior quality of Nepali Iron and steels than other countries. Apart from abroad markets, Nepali iron and steel products have a sizable following in the domestic market too.
Nepal earned Rs 6.26 billion amount in the first half of the current fiscal year from the largest export of Iron and steel products.
According to the Trade and Export Promotion Center (TEPC), exports of iron and steel products expanded 5.6 percent compared to the same fiscal year of last year. In the first half of 2012-13, Nepal exported iron and steel product worth Rs 5.94 billion and this year it is Rs 6.26 billion (Rs 6.26- Rs 5.94= 0.32 billion).
Raw materials are imported from foreign countries but the foreign demands are increasing due to cheaper and superior quality of Nepali Iron and steels than other countries. Apart from abroad markets, Nepali iron and steel products have a sizable following in the domestic market too.
Wednesday, February 26, 2014
Global IME Bank and Commerze and Trust Bank to merge
February 26, 2014
Two commercial banks of Nepal, Global IME Bank Limited and Commerz and Trust Bank Limited have signed a final agreement on their merger process. Chairpersons Chandra Prakash Dhakal of Global IME and Shobhakar Neupane of Commerz and Trust signed the agreement on Tuesday. Both chairpersons have signed Memorandum of Understanding (MOU) on merger in last November. Previously NIC Bank Limited and Bank of Asia merged to become NIC Asia from 30th June 2013. After this merger, there will be 30 commercial banks in Nepal. The bank, which was named as Global Bank at the time of its establishment has so far merged with five other institutions. Bank had merged IME Financial Institution, Lord Buddha Finance, Social Development Bank and Gulmi Bikash Bank in past two years. But this is the first time bank is trying to merge with a commercial bank.
Two commercial banks of Nepal, Global IME Bank Limited and Commerz and Trust Bank Limited have signed a final agreement on their merger process. Chairpersons Chandra Prakash Dhakal of Global IME and Shobhakar Neupane of Commerz and Trust signed the agreement on Tuesday. Both chairpersons have signed Memorandum of Understanding (MOU) on merger in last November. Previously NIC Bank Limited and Bank of Asia merged to become NIC Asia from 30th June 2013. After this merger, there will be 30 commercial banks in Nepal. The bank, which was named as Global Bank at the time of its establishment has so far merged with five other institutions. Bank had merged IME Financial Institution, Lord Buddha Finance, Social Development Bank and Gulmi Bikash Bank in past two years. But this is the first time bank is trying to merge with a commercial bank.
Tuesday, February 25, 2014
Nepal is third largest producer of ginger in the world
Nepal retains third spot of the world largest producer of ginger after India and China. Nepal produced 255,208 tons of ginger to retain that spot in 2012. According to the statistics of the Food and Agriculture Organization (FAO) of the United Nations output jumped 17.99 percent in 2012. India and China were the top producers of ginger with 703,000 tons and 462,500 tons respectively. Total 12.18 percent of share is covered by Nepal in the world, while she covers 21.39 percent of share in South Asia.
Sunday, February 23, 2014
Himalayan Bank to increase paid up capital
February 23, 2014
The seventh commercial bank of Nepal, Himalayan Bank Limited (HBL) has decided to increase its paid-up capital to Rs 4 billion within the next two year among rising competition. Its current paid-up capital stands at Rs 2.76 billion. Commercial bank of Nepal, Nepal Rastra Bank (NRB) has already issued a regulation to increase the paid of capital of bank and financial institutions of Nepal. According to NRB, Banks and Financial Insitutions have to increase their paid up capital to strength the economy and to increase the investment.
The seventh commercial bank of Nepal, Himalayan Bank Limited (HBL) has decided to increase its paid-up capital to Rs 4 billion within the next two year among rising competition. Its current paid-up capital stands at Rs 2.76 billion. Commercial bank of Nepal, Nepal Rastra Bank (NRB) has already issued a regulation to increase the paid of capital of bank and financial institutions of Nepal. According to NRB, Banks and Financial Insitutions have to increase their paid up capital to strength the economy and to increase the investment.
Saturday, February 22, 2014
Nepal became third highest remittance earner in terms of GDP
November 13, 2013
Remittance has emerged as one of the biggest factors in poverty reduction in Nepal and she became third among countries receiving the highest proportion of remittance in terms of gross domestic product (GDP). Nepal receiving remittance worth 25 percent of GDP in 2012, according to a report published by the World Bank (WB), African country Lesotho had also received remittance of 25 percent of GDP in 2012. In 2011, Nepal was fifth in the list.
Remittance has emerged as one of the biggest factors in poverty reduction in Nepal and she became third among countries receiving the highest proportion of remittance in terms of gross domestic product (GDP). Nepal receiving remittance worth 25 percent of GDP in 2012, according to a report published by the World Bank (WB), African country Lesotho had also received remittance of 25 percent of GDP in 2012. In 2011, Nepal was fifth in the list.
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