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Business and Corporate

NIC Asia interbank payment through internet banking

NIC Asia on Friday said that its clients will directly get to transfer funds to other accounts in other financial institutions using its internet banking services. Issuing a statement, the bank said, in collaboration with Nepal Clearing House Ltd (NCHL), it launched the Interbank Payment System (IPS) direct service through …

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China grants Rs 15.80 billion for reconstruction

The Chinese government has provided nearly Rs 16 billion for the post-quake reconstruction activities in Nepal. Spokesperson of the government and Minister for Information and Communications Surendra Kumar Karki shared this information adding that the Cabinet meeting on Sunday decided to accept the grants worth Rs 15.80 billion provided by …

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China to provide IPS Service in Nepal

Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third country in order to deliver IP service …

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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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