Massive rise in Business for Multiplexes in Nepal

KATHMANDU, Dec 30: The state-of-the art cinema halls are turning into the most appealing destination for moviegoers in recent years. The main reason for the attraction is the location of the multiplexes: in the shopping malls.  The multiplex business that began with Jai Nepal a decade ago has leaped forward to a new height with QFX Cinemas, Big Movies, and more recent FCube Cinemas. The improvement in technology has revolutionized the movie-viewing experience. Around 30 to 40 million rupees are invested per theater in a multiplex...

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Increase in Nepali Apps developed for Smartphones

KATHMANDU, Dec 29: With the increase in number of smartphone users, the development of new Nepali apps by different companies and individuals, especially for Android-based phones, are on the rise. To cash in on the increasing number of users of Andrioid phones, BrainDigit IT solution, a Nepali company has come up with different types of Nepali apps. (adsbygoogle = window.adsbygoogle || []).push({}); The company has developed more than dozen of productive mobile apps for Android and Windows Phone like File Locker, a data protection...

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Century Commercial Bank IPO for Rs.920 million

KATHMANDU, Dec 26: Century Commercial Bank Ltd (CCBL) on Thursday received the go ahead from the Securities Board of Nepal (SEBON) to issue 9.2 million units shares in an initial public offering (IPO). After getting the nod from the securities market regulator, CCBL is likely to hold its IPO on mid-January 2014, the bank said. “The upcoming meeting of the board of directors will take the decision on the date to for the IPO. Probably, we will issue shares by the third week of January,” the bank´s CEO Ganesh Kumar Shrestha told Republica. ...

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IFRS to be partially implemented in Nepal from next fiscal year

KATHMANDU, DEC 27 - The government has planned to partially implement the International Financial Reporting Standards (IFRS) to strengthen the accounting system in various sectors of the economy. The new reporting standards, which will be launched in the next fiscal year, are expected to allow regulators to monitor companies in a more effective manner. Auditor General Bhanu Acharya said the government planned to enforce the accounting practices fully by 2017. “The new standards to be implemented will help measure the actual financial...

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Land transactions in Nepal up 21%

KATHMANDU, Dec 25: Revenue from land registration across the country increased by around 21 percent over the first five months of the current fiscal year compared to the figure of corresponding period last year. However, the rise is relatively low compared to general expectation that there will be significant improvement in property transactions after timely announcement of budget and successful Constituent Assembly (CA) elections. (adsbygoogle = window.adsbygoogle || []).push({}); Data compiled by the Department of Land Reforms...

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Samsung to cut prices from January 2014

KATHMANDU, Dec 25: Samsung is slashing prices of its smartphones from January 2014, thanks to stiff competition from brands like Micromax, Colors, Sony and Lenovo, among others. Officials of International Marketing Services (IMS) - the authorized distributor of Samsung in Nepal - confirmed that prices of Samsung smartphones would go down form the first week of January. “But we can´t say by how much margin the prices will be cut as we are yet to get confirmation from Samsung,” an official of IMS said. (adsbygoogle = window.adsbygoogle...

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Price of Gold down by Rs. 1,135 per 10 grams

KATHMANDU, Dec 20: Nepali rupee weakened by 2 paisa this week as the Indian currency, with which rupee is pegged, weakened negligibly against the greenback. Price of gold, on the other hand, went down by Rs 1,135 per 10 grams over the week due to drop in prices in the international bullion market. CURRENCY Nepali rupee dropped to 99.73 against US dollar losing 2 paisa over the week. Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of US dollar fixed at Rs 99.71. (adsbygoogle...

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Rs.1m looted of Alpine Development Bank

MAKWANPUR, Dec 22: A group of two armed robbers looted Rs 10, 00,000 (1 million) in cash of Alpine Development Bank at gunpoint here in the district on Sunday. The motorcycle-borne gang looted the cash at Phurkechaur of Harnamadi VDC, at jungle while the money was being ferried to the Chhatiwan, Hattisunde-based branch office of the bank from its central office, Hetauda via a motorbike. According to police, the incident occurred at around 11:30 am at  the Chorbhanjyang Jungle as Branch head Bishnu Adhikari and a security person...

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Brand New Bikes to be launched in the Nepalese market in 2014

KATHMANDU , NOV 25 - The Nepali market will see the entry of several new motorcycles from reputed brands in the New Year 2014. Dealers of Bajaj, Honda, Hero, Suzuki and TVS said they are all set to introduce new models. (adsbygoogle = window.adsbygoogle || []).push({}); Syakar Trading Company, sole authorised distributor of Honda motorcycles for Nepal, is all set to introduce Honda CB Trigger by January 2014. Rajan Puri, manager, Honda division of the company, said it would capture the youth mind, which the Unicorn was not...

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Price of Chicken hiked ridiculously high

CHITWAN, NOV 25 - Rishi Dhakal, a resident of Astha Tole, Bharatpur, bought chicken at Rs 380 per kg on Sunday. The pricing left him surprised as he had bought the same quantity of chicken at Rs 350 a day ago. Many customers like Dhakal are saddened by the random price hike almost every day. (adsbygoogle = window.adsbygoogle || []).push({}); “I run a small restaurant, and this price hike has left me in trouble as chicken is something that customers seek the most,” said Dhakal, adding if the price continues to go up, it...

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Gold Price slides to Rs.54,000

KATHMANDU, NOV 22 - Local bullion prices cooled down in a reflection of international trends with gold dropping Rs 1,600 per tola. The Federation of Nepal Gold and Silver Dealers’ Association (Fenegosida) on Thursday set the price of the yellow metal at Rs 54,000 per tola (11.664 gm). On Wednesday, gold traded at Rs 55,600 per tola. Similarly, silver became cheaper by Rs 40 per tola. Silver traded at Rs 865 per tola on Thursday, down from Rs 905 on Wednesday. (adsbygoogle = window.adsbygoogle || []).push({}); Meanwhile...

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Securities Board of Nepal drafting the Commodities Act

KATHMANDU: After a long delay, the capital market regulator has jump started the drafting of the Commodities Act to bring the commodities market under the regulatory ambit, finally. (adsbygoogle = window.adsbygoogle || []).push({}); The commodities market might come under the regulatory ambit soon as Securities Board of Nepal (Sebon) has started working on the Act to regulate the market that has been operational since last seven years without any regulator. “We started preparing the draft of the Commodities Act about a month back,...

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