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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Free Wi-Fi now available in Kantipur Deluxe Buses

KATHMANDU, JAN 09 - If you have an advanced mobile set or a tablet or laptop with wireless connectivity, you can now be online as you travel to your destination in a public bus as well. This has been made possible through free Wi-Fi internet service now available in the Kantipur Deluxe buses that travel on the Nepalgunj-Kathmandu-Nepalgunj route. With this service, passengers can use all kinds of internet facilities inside the bus itself, said Govinda Poudel, Vice-president of Namaste Nepal that operates the bus. We hope...

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Internet Protocol Television Service to be Launched for the first time in Nepal

KATHMANDU, JAN 05 -   Two companies — Orient Digital Media and Subisu Cable Net — are planning to launch Internet Protocol Television ( IPTV ) service for the first time in the country.    Orient has already received the licence, while Subisu has applied for the permission from the Ministry of Information and Communications.   Through IPTV , television contents are delivered to viewers through internet instead of traditional terrestrial broadcast, satellite signal or cable television formats. Subscriber of IPTV...

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Gold Price Increases while Nepalese Rupee falls

KATHMANDU, Jan 3: Nepali rupee weakened by 65 paisa this week as the Indian currency, with which rupee is pegged, shed value against the greenback. Price of gold, on the other hand, increased by Rs 860 per 10 grams over the week in line with the price movement in international bullion market. CURRENCY Nepali rupee dropped to 99.92 against US dollar, losing 65 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 99.27. Rupee remained...

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Load Shedding in Nepal to be 12 hours per day from January 5th

KATHMANDU: Nepal Electricity Authority (NEA) has said the current load- shedding hours would be increased from 11 to 12 hours round the clock to be effective from January 5. Issuing a press release on Thursday, the NEA said with the increased load-shedding, there will be 80 hours of darkness a week. However, the industries run by the private sectors will have 14 hours power outage while it will be just nine hours for the industries run by the government. (adsbygoogle = window.adsbygoogle || []).push({}); Source:myrepublica.com,...

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Tourist arrivials to Upper Mustang increased in 2013

BAGLUNG, Jan 4: Though the tourist arrival across the country decreased in 2013 due to political instability, especially general or transport strikes, the number of tourists visiting Upper Mustang actually increased compared to the previous year. With this the collection of revenue also increased, up to Rs 200 million, according to Annapurna Conservation Area Project (ACAP). The cost of traveling in the ´controlled area´ as announced by the government is very high. Foreigners who wish to visit the area have to take permission from...

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NEPSE likely to continue bullish trend

KATHMANDU, Jan 3: Amid euphoria among investors who are feeling more optimistic about the prospects of a more comfortable environment for investment, the upward journey of the Nepal Stock Exchange (Nepse) Index is expected to continue and surpass 2013´s record of 806.82 points. They hope to benefit from a rallying secondary stock market this year against the backdrop of improvement in the political situation of the country. The Nepse Index -- which measures the investors´ confidence in the capital market -- reached a five-year high...

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Nepal's future looks bright but not without challenges

KATHMANDU, JAN 02 -   Who would have imagined a decade ago that one could book air or movie tickets from a mobile phone ? Who would have thought migrant Nepali workers could send remittance on a phone ? All this, and much more has happened in last one decade, thanks to the advancement in the domestic information and communication technology (ICT) sector. Digitisation of the economy is under way.   However, Nepal still has miles to go. It is at the 137th position (2012) in the ICT Development Index, as per the International...

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Mobile Devices have high demand in Nepal

KATHMANDU, JAN 02 - Information and Communica -tion Technology (ICT) products, which used to be considered luxury a few years ago, have now become an integral part of our working and living environments. The hardware market, which was limited to the personal computers and certain utility accessories, has been taken over by portable wireless devices with multiple functions. First it was personal computers (desktop) which took the market by storm. Then came laptops enhanced with portability and flexibility. With the advancement in...

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New Gadgets to be Launched in Nepal in 2014

KATHMANDU , JAN 01 - With the year 2013 making shift to 2014, several gadget companies are lined up for new launches of the latest innovative products to woo prospective buyers. Local distributors of smartphones, tablets, phablets and ultra books, among others, are all set to introduce various new products in 2014. Here is the low down on some of the gadgets Asus Vivobook S451LB & Vivobook S 551 LB Nagmani International, authorised distributor of Asus products in Nepal, will be launching a new model of Ultra Book—Asus Vivo Book...

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Business Process Outsourcing yet to be fully exploited in Nepal

KATHMANDU, JAN 02 -   Business process outsourcing ( BPO ) is not new in Nepal. It’s been almost a decade since the domestic IT sector saw the emergence of BPO firms. Since then, the sector is growing, albeit slowly. Although exact data is hard to find, it is estimated there are over 200 large and small BPO companies operating in Nepal, offering employment to more than 3,000 individuals.   GeoSpatial Systems, Serving Minds, Yomari Inc and D2Hawkeye (now known as Verisk Information Technologies) are the pioneers when...

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Service Sector is Highest Tax payer in Nepal

KATHMANDU, Dec 31: Nepal Telecom (NT) became the largest contributor to income tax in fiscal year 2011/12, paying Rs 6,015 million. Given the sluggish performance of the manufacturing sector, the service sector has dominated the top-10 list of largest contributors to income tax, according to a confidential source. Ncell-- a multinational telecom firm--became the second largest income tax contributor, paying Rs 4,970 million. The Agricultural Development Bank Ltd ( ADBL) is the largest bank and third largest company, and it paid Rs 1,656.7...

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