Friday, August 04, 2006

Roundup of Economic & Business News (Aug 3 - Aug 4)

Govt to relax grip on foreign employment
eKantipur.com, Aug 4
The labor ministry has agreed to scrap a provision restricting manpower agencies from exporting workers without obtaining final approval of the government. more…

Bumrungrad’s office in Nepal
eKantipur.com, Aug 4
Bumrungrad International, Thailand's premier medical center, has opened its referral center in Nepal for patients seeking overseas medical care there. more…

Code of Conduct for orthodox tea industry
eKantipur.com, Aug 4
Tea Development Alliance is going to implement a code of conduct (CoC) in the orthodox tea industry in order to enhance competitiveness of Nepali tea in the international market. more…

The country’s future is dark
Commentary
Kunda Dixit
Nepalnews.com, Aug 4
It is simple demand and supply: Nepal’s electricity demand is increasing at 60 MW a year and no new major hydropower unit is coming onstream in the foreseeable future to cover the shortfall. more…

Made in Nepal: an ambitious campaign
Feature Article
Nepalbiznews.com, Aug 4
Breaking down the conservative perception over the Nepal made product as least qualitative, youth entrepreneurs have initiated a campaign to give recognition to the national products and to inspire Nepali consumers to buy the products made in Nepal. more…

Minister discloses King's land property
Nepalbiznews.com, Aug 4
The government of Nepal on Friday has informed that the King and the Royal family have 34,000 ropanies of land around the country. more…

Tourist arrival up by 7 percent
Nepalbiznews.com, Aug 4
Tourist arrival to Nepal in July grew by 7.2 this year compared to the same month of last year as the nation is heading towards permanent peace through dialogue, according to the Ministry of Culture, Tourism and Civil Aviation (MoCTCA). more…

Bankers vary the cause of stock market crisis
Nepalbiznews.com, Aug 4
Opposing the idea that the “monetary policy was the major cause of decline in share transaction” that caused loss of about Rs. 11 billion to the stock market during last 10 days, the bankers claimed that the “rumors” didn’t represent the reality. more…

Nepal not to enter highly indebted poor category
Nepalbiznews.com, Aug 4
Finance minister Dr Ram Saran Mahat has reaffirmed his commitment that he would not rush to enter into Highly Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) as Nepal can better its economy by stimulating reform activities. more…

Nepal’s trade deficit with India to cross Rs 50b
The Himalayan Times, Aug 4
The deficit in Nepal-India trade will cross Rs 50 billion during this fiscal year due to a decrease in exports to India, custom charge imposed by India and also because India has started exporting goods that were being imported from third countries earlier. more…

Self-policing planned to ensure tea quality
The Himalayan Times, Aug 4
Nepali tea industry has formulated a Code of Conduct (CoC) in a bid to advance its market segment of orthodox tea and counter the bad publicity over the inferior quality of its tea in the global market. more…

Non-tariff barriers hurt Nepal-India trade
The Himalayan Times, Aug 4
Senior government officials and private sector people today pointed out to the non-tariff barriers prevalent in trade between Nepal and India in recent years. more…

Union cash card launched
The Himalayan Times, Aug 4
Union Money Transfer Company Ltd (UMTCL) has formally launched its remittance product ‘Union Cash Card’ yesterday, states a press statement issued here today. more…

Damming Asia's watershed: China's hydropower plans in Tibet
Interfax, Aug 4
The Tibetan belief that all bodies of water are sacred and inviolable is unlikely to hinder China's power developers in their quest for new sources of electricity. more…

NEPSE loses Rs. 11bl. in 9 days
Nepalbiznews.com, Aug 3
The stock market lost Rs. 11 billion during last nine days after a heavy decline in the NEPSE index as the investors declined to invest reasoning that the new provision on capital structure of the commercial banks made by monitory policy reduced their chance of getting more dividends. more…

'Monetary Policy not behind turmoil'
eKantipur.com, Aug 3
At a time when fingers are being pointed towards Nepal Rastra Bank's new Monetary Policy for the current turmoil in the share market, a top NRB official has said that there is no reason in the allegation. more…

Maoists close Himalayan Snax
eKantipur.com, Aug 3
BANEPA, Aug 3 - Maoist activists forcibly closed Himalayan Snax and Noodles Thursday. They forced employees to move out of the factory premise and smashed glasses of the windows. more…

Ministry holds review meet on dev projects
RSS, Aug 3
The third quarterly and annual review of the development projects and programmes implemented in Fiscal Year 2005/2006 under the Ministry of Industry, Commerce and Supplies and the meeting of the Ministry level Problems Resolution Committee was held under the chairmanship of Minister for Industry, Commerce and Supplies Hridayesh Tripathi today. more…

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