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Business and Corporate

Siddhartha Development Bank celebrating its 17th AGM


The 17th annual general meeting (AGM) of Siddhartha Development Bank Ltd (SDBL) held in Kathmandu on Friday approved a proposal by its board of directors to distribute 24 percent bonus shares from profits earned during Fiscal Year 2015/16. Issuing a statement, the bank said its AGM also approved a proposal …

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Samsung Smartphone Café reopens in New Road


IMS-SMart, which has 21 Samsung Authorized exclusive showrooms across Nepal, said it had re-opened its Samsung Smartphone Café at Pako, New Road, in Kathmandu, on Thursday. “The showroom was renovated to keep up with the latest infrastructure to provide world class shopping experience,” IMS said in a statement. The shop …

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ADB to grant $20m to encourage investment in solar projects

The Asian Development Bank (ADB) on Thursday announced a $20-million grant aimed at triggering increased private sector interest and investment in utility-scale solar projects in Nepal. The funds are expected to support the deployment of no less than 25 MW of solar power generation capacity by 2018 and provide a …

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Chandragiri Hills attractive tourist destination


Jeffrey David Sachs, an American economist and director of The Earth Institute at Columbia University, on Tuesday visited Chandragiri Hills with his family on an unofficial tour. In the visitors’ book maintained at Chandragiri Hills, Sachs mentioned that he is highly impressed by the infrastructure of Chandragiri Hills. He also …

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No power cut till mid Jan in KTM valley


Nepal Electricity Authority (NEA) has said that it won’t impose power cut in the Kathmandu Valley at least till the end of Poush (mid-January). The power utility had lifted power cut in the capital city in the first week of November as part of its plan to eradicate load-shedding altogether. …

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Industrialist Shrestha re-elected


The Mangaing Director of Panchakanya Group of Industries, Pradeep Kumar Shrestha has been re-elected to the post of Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) through its recently held 30th conference and 50th anniversary in Taiwan. Renowned industralist Shrestha is the former president of FederaFederation of …

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Prabhu Bank opens new branch office in Achham


Prabhu Bank Ltd (PBL) has opened a new branch office at Kamalbazar of Accham district with the support from UKAid. Issuing a statement on Thursday, the bank said that Bisrut Thapa, manager of Nepal Rastriya Bank’s Dhangadi branch inaugurated the branch office. The statement further added that customers of Accham …

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NAC to increase daily flights to Delhi


Nepal Airlines Corporation (NAC) has announced expanding its operations to New Delhi, India. With effect from December 20, NAC will launch double daily flights to Delhi, the airline said in a statement. It currently flies 11 weekly flights on the sector. Delhi is the most lucrative route for airlines in …

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Nabil Bank felicitates its staffs


Nabil Bank Ltd has felicitated its existing and former staffers amid a function held in Kathmandu. Issuing a statement, the bank said that it honoured retired as well as currently working staff members associated with the bank for more than 25 years. Shambhu Prasad Poudel, chairman of the bank, presented …

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Sanima Capital appoints issue manager of Citizens Bank


Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under the agreement, Sanima Capital will …

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