Micromax launches Canvas Nitro A310 in Nepal

KATHMANDU: Micromax Informatics Ltd, the country’s leading handset player, has announced the launch of Canvas Nitro A310 in Nepal. Delivering a combination of great aesthetics and superior features, the Canvas Nitro is power packed with a 1.7GHz Truocta-core processor promising seamless multi-tasking and an improved application performance.Equipped with a five-inch HD IPS display, it offers a dynamic contrast and colour vibrancy with an immersive graphic quality.Running on latest Android 4.4 KitKat, users get access to a number of features,...

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Public transport fare to increase by 5.63%

KATHMANDU: The government is hiking up the public transport fare by 5.63 per cent from November 1, against the instruction of the Commission for the Investigation of Abuse of Authority (CIAA) to fix the rates based on practice in South Asian region.The Department of Transport Management has decided to increase the fare despite recent reduction in oil prices citing that the decision to review the transport fees was taken before the fuel price was reviewed.According to the department officials, the Ministry of Physical Infrastructure and Transport...

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Ford Figo launches models in new refreshing look

KATHMANDU: Adding excitement and colour to the festive season, Ford has introduced Ford Figo in a refreshing new look with enhanced exteriors and bright new interiors. The festive look of Ford Figo will win customers over with its smoky stealth finish exterior styling elements including 14” alloy wheels, fog lamp bezels and rear bumper valance. The exterior styling of the popular and dependable Figo has been further enhanced with a sleek-looking chrome signature fender badge and turn indicators on power mirrors to add to its premium appeal. Making...

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Micromax launches X081‚ X082 models in Nepal

KATHMANDU: Micromax, an international brand of cellphones that has established itself as the frontrunner in the arena of mobile phone sales in Nepal, has added two new models — Micromax X081 and Micromax X082 — to its vast array of mobile phones in Nepal. The all new Micromax X081 prides itself on its rejuvenation of the wireless FM feature along with better and diverse multimedia functions than any other brand in its league. Also, the GPRS in the new Micromax X081 lets the user be in touch with the world at all times. Adding to this,...

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The New LAVA Iris X5 Launched in Nepal

KATHMANDU: CG Impex — the sole authorised distributor for Lava mobile phones in Nepal — recently launched Lava Iris X5, as the successor of its hugely popular Iris X1.  The smartphone is a perfect combination of superlative camera performance and graceful design. It is especially designed to meet the needs of the ‘selfie’ generation. Running on Android 4.4 KitKat, the Lava Iris X5 with its brilliant features and design is a real treat at a price of Rs 17,999. The Lava Iris X5 has a 5.0 MP BSI + auto focus front shooter with LED flash...

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Century Commercial Bank starts distributing IPO allotment slips, refunds from 9th March

A day after allotting the Initial Public Offering (IPO) worth Rs 92 crore, Century Commercial Bank Limited has stated that it will start distributing allotment slips and refund the non-allottees from March 9 i.e. coming Sunday.The IPO was allotted yesterday at the head office of the commercial bank in Kathmandu at 7.90percent to retail investors who had applied up to Rs 50,000 and 3.09 percent to big investors.However, those who had applied...

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Civil Bank, Civil Merchant and Axis bank merged

Endorsing the final deal on the merger through their special Annual General Meetings held yesterday, Civil Bank Limited, Civil Merchant Bittiya Sanstha and Axis Development Bank Limited have decided to name the merged entity as ‘Civil Bank Limited’.The separately held special AGMs also gave the final nod to the swap ratio of 1:0.79 for the commercial and the other two BFIs following DDA Report prepared by BRS Neupane and Company.They have also decided to retain the Board of Directors and senior officials of all three BFIs. It may be noted...

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Samsung Galaxy S5 to be launched in Nepal by mid-April

KATHMANDU, March 2: Samsung Galaxy S5 will hit the Nepali market by the second week of April. Officials of International Marketing Service (IMS) said the new offering from the South Korean technology giant will take Samsung mobiles to a new high in Nepal as well as in the global market. The phone was announced during Mobile World Congress, Barcelona on February 24. It is being launched globally in the first week of April. “We are trying our best to unveil the phone in Nepal during the global launch in the first week of April. If it´s...

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NIC Asia to distribute 20% Cash Dividends

The first Annual General Meeting of NIC Asia Bank Limited following the merger of NIC Bank and the Bank of Asia has concluded in Biratnagar endorsing 20 percent cash dividend to the commercial bank’s shareholders from the net profit it posted in the last fiscal year 2069/70.Addressing the AGM, the bank management informed that cash dividend will be distributed from March 4.Observed as the 16th Annual General Meeting, the annual event also elected Jagadish Prasad Agrawal, Trilok Chandra Agrawal, Tulsi Ram Agrawal, Lokmanya Golchha and Ram...

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South Korea allocates 5,700 jobs for Nepali workers

KATHMANDU, MAR 02 -   The South Korean human resource department has allocated 5,700 jobs to Nepali workers for 2014 under the Employment Permit System ( EPS ). The workers will be selected from a roster of some 9,700 aspirant Nepali migrants who have successfully completed the Korean language test. South Korea had hired 5,234 Nepali migrants in 2013.   Korea Employment Permit System ( EPS ) in Nepal said the quotas will be applicable to those who will work in the manufacturing sector. The ceiling allocated to Nepali workers...

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Number of Troubled Cooperatives on the rise

KATHMANDU: The number of troubled cooperatives has doubled in the last three months. The number of savings and credit cooperatives that are considered crisis ridden reached 148, by the end of February. Back in early December, there were 71 such troubled institutions when a high level committee to inquire into problematic savings and credit cooperatives was formed. So far, the victims have lodged 16,859 complaints of financial misappropriation against the cooperatives. Among the total complaints lodged, the commission has processed 9,348...

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Century Commercial Bank IPO allotment from March 3rd

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited will be allotted on March 3 at the office of the commercial bank in Kathmandu, according to highly placed sources privy of the development. The reliable sources also informed that the IPO allotment model is such that the IPO will be allotted at an impressive 7.90percent to retail investors who had applied up to Rs 50,00 and at  just 3.09 percent to big investors. This means that the smaller investors will be benefitted more from the allotment...

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NLG Insurance distributing cash dividend warrants from 23rd Feb 2014

NLG Insurance Company Limited is distributing 11.05 percent cash dividend warrants to its shareholders from today. Earlier this month the Annual General Meeting of the insurer had endorsed 11.05 percent cash dividend and 10 percent bonus shares to its shareholders from the net profit it earned in the last fiscal year 2069/70.NLG had posted a net profit of Rs 14.37 crore in the last fiscal year.The dividend warrants are being distributed through its RTS, Civil Capital Market Limited at Kamaladi in Kathmandu from 10:00 AM to 3:00 PM from Sunday...

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Ridi hydropower IPO to be oversubscribed by 70 times

Ridi Hydropower Development Company Limited’s Initial Public Offering (IPO) of 11.70 lakh units, is oversubscribed by more than 70 times, according to the preliminary estimate.“We collected 2.7 arba by Wednesday, which means it was oversubscribed by some 25 percent in the first three days,” a highly placed official with Civil Capital Limited told ShareSansar today.  “Going by the data pouring in from the collection centers, we are expecting...

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Century Bank IPO allotment by March 3rd to 4th

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is expected to be allotted March 3 or 4, according to the issue manager. “We are planning to allot the IPO by March 3 or 4, and distribute the allotment slips and refund the non-allottees most probably by March 9,” an official with Civil Capital Limited, the issue manager, told ShareSansar today. Century’s IPO was oversubscribed by more than 25 times. The IPO, which was issued from January 9, had closed on January 13. Century’s IPO was one...

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Samsung Galaxy Grand 2 launched in the Nepalese market

KATHMANDU: International Marketing Service (IMS), the authorized distributor of Samsung mobile phones in Nepal, on Sunday launched Galaxy Grand 2 phablet in the market. The successor of Galaxy Grand has been priced at Rs 36,900.   The dual-SIM phablet runs on Android 4.3 Jelly Bean OS and features a 5.25-inch HD TFT display. The phone with 720x1280 pixels resolution is powered by 1.2 GHz quad-core processor and 1.5 GB RAM. The phone...

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Ridhi Hydropower Company to issue IPO from February 16th

KATHMANDU, Feb 9: Ridi Hydropower Development Company (RHDC) is floating 1.17 million units of primary shares with face value of Rs 100 each from February 16. The company had received the go-ahead from the Securities Board of Nepal (Sebon) - the stock market regulator -- to issue shares worth Rs 117 million on February 3. The IPO will continue till February 20. The 2.4-megawatt capacity project has been developed on Ridi River that borders Gulmi and Palpa districts. It has allocated 58,500 units of shares to three mutual funds -- Nabil...

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Tourists coming to Nepal for Mountain Biking tripled in the last 3 years

KATHMANDU, Feb 1: The number of tourists coming to Nepal for mountain biking has tripled over the last three years. Ranjan Rajbhandari, director of Nepal Mountain Bike Tours, said the number of foreigners as well as Nepalis preferring mountain biking has shot up mainly because of increasing public consciousness about health and shortening of trekking trails. “Our record shows that around 20 percent of the tourists visiting Nepal go for...

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Farmers switching to Fish Farming due to High Rate of Return

BHAIRAHAWA, Jan 26: Lured by fast cash, more farmers in Rupandehi are turning to commercial fish farming. Many farmers in the district are shifting from traditional food crop to fish farming as the rate of return on the latter is high. According to District Agriculture Office (DAO) Rupandehi, commercial fish farming is done in around 900 hectares in the district. In Chapiya of Dayanagar-8 alone, commercial fish farming is done in over 200 hectares. Gopal Prashad Pandey, a farmer from Chapiya, told Republica that farmers are shifting...

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Latest Cinema Experience - Dine while you watch movie

KATHMANDU, Jan 18: With an objective to provide a different cinema viewing experience to the customers, a new multiplex with dining experience is coming up at CTC Mall in Sundhara.  Cine de Chef Company is opening a new cinema hall named Cine de Chef within next two weeks which provides movie goers with the experience of latest movie as well as mouth-watering food while watching the movie. The company claims that it is the first...

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Nepal urges Asian neighbours to invest in Nepal

KATHMANDU, Jan 10: Government officials have urged foreign investors to increase trade and investment cooperation in Nepal. Nepal has put high priority on attracting foreign investment in crucial sectors such as hydropower, tourism, road transport and agriculture for the past few years. Speaking at an interaction organized in Kolkata on Thursday, Chandra Kumar Ghimire, Nepali Consul General in Kolkata, said investors would benefit greatly by putting their money in Nepal which is strategically located between two Asian economic giants...

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Tax Dodgers in Nepal to face stern action

KATHMANDU, JAN 11 -   After failing to attract expected number of tax payers under a special scheme that offers a certain tax exemption, the government on Friday said it will take stern action against tax evaders.   The Financial Ordinance 2013 has offered different levels of tax exemptions to different types of tax payers, provided they pay outstanding tax es within mid-January 2014. The targeted tax payers are private institutions, small traders, cooperatives, professionals and other individuals. The scheme has...

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Malaysia no longer allows foreign workers in restaurants and fast food chains

MALAYSIA, JAN 11 -   With fast-food restaurant operators in Malaysia no longer allowed to hire foreign workers, it is likely to have an adverse effect on prospective Nepali migrant workers.   A meeting of the Cabinet Committee on Foreign Workers and Illegal Im migrant s of Malaysia chaired by Deputy Prime Minister Muhyiddin Yassin recently took a decision to this effect with an aim to encourage the local work force in the sector.   There has been a growing demand of Nepalis in international food chains like KFC....

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Operating Capacity of Nepalese Industries at 57.83%

KATHMANDU, JAN 12 - Capacity utilisation of Nepali manufacturing industries could not go up in the last fiscal year, thanks to poor industrial environment as a result of protracted political transition, power crisis and skilled labour shortage. The average capacity utilisation of industries stood at 57.83 percent, according to a study carried out by the Nepal Rastra Bank (NRB) in eight major cities and surrounding areas covering 47 districts. Industrialists have also termed the level of capacity utilisation poor. The study was...

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Nepalese businesses in Hongkong expanding to China

HONG KONG, Jan 9: A Hong Kong government official has said that Nepali businessmen who are established in Hong Kong are now expanding their businesses to China. Speaking at the sixth anniversary of Nepal Chamber of Commerce (NCC) - Hong Kong, held on Tuesday, Director General of InvestHK Charles Ng said the government was aware about the Nepali companies doing good business in Hong Kong.  InvestHK is the government body of Hong Kong Special Administrative Region responsible for foreign direct investment. “Nepali businessmen are...

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Tourism in Nepal a major economic activity

KATHMANDU, JAN 10 - Chief Secretary Lilamani Poudel has said tourism has emerged as a major economic activity in Nepal and is expected to do wonders in the coming years in terms of employment generation and poverty alleviation. At the time when other sectors are not performing well, tourism is only the sector that could benefit Nepal in the short-run, said Paudel addressing the 50th annual general meeting of Nepal Association of Tour and Travel Agents (NATTA) here on Thursday. Saying that attracting 100,000 tourists means adding...

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Strawberry Farming expanding well in Nepal VDCs

NUWAKOT, JAN 10 - Industry Minister Shankar Koirala has lauded the hard work and success achieved by strawberry farmers in Kakani, Nuwakot. Speaking at an interaction programme during a visit to the strawberry fields, Koirala praised the entrepreneurs for diversifying their products and exporting them to India. Strawberry farming is being promoted by Micro Enterprise Development Programme (MEDEP) to support low-income families to grow the high value crop and improve their livelihoods. Entrepreneurs say they produce strawberry ...

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Century Commercial Bank Launches IPO

KATHMANDU, JAN 10 - Century Commercial Bank launched initial public offering (IPO) worth Rs 920 million on Thursday. The bank has issued 9,200,000 primary shares priced at Rs 100 apiece. The bank has estimated to have received applications for the primary shares worth Rs 500 million on the first day. “Based on the first day’s estimated demand, there could be an over-subscription of 5-10 times,” said Century CEO Ganesh Kumar Shrestha. Century said it has allocated 460,000 shares for the bank’s staff, while another 460,000 units have...

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