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| Archive of August 2009 |
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Hyundai at NADA
Laxmi InterContinental P.Ltd. (LICPL), the official partner of Hyundai Motors, has displayed cars from Hyundai at NADA Auto Show. At the show, which will end tomorrow, LICPL has focused on the new models Magna and Asta from Hyundai which are respectively priced at NRs.2150000
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Clueless Mid-western banks
Banks and financial institutions in the Mid-western Development Region have collected a huge deposit but have no idea about mobilizing the funds. According to officials of the banks in Surkhet, Banke, Bardiya and Dang, there is no appropriate sector for investment. The banks in the region have collected a
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6000 litres milk spilled
Agitating dairy farmers, who have been demanding rise in the pay they receive from the Dairy Development Corporation (DDC), have spilled 6000 litres of milk on the road. Farmers from around the country have engaged themselves in the protest. To intensify their protest, they have put blockades on
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Adhikari appointed NRB Press Advisor
Nepal Rastra Bank has appointed Hari Adhikari as its Press Advisor. Adhikari, who has already worked for NRB in the same position, continued his work from Sunday. Engaged in writing columns for many newspapers and magazines, Adhikari has much experience in this field and his position obviously befits his background.
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FNCCI Press Release
The fact that the increase in the export tax for construction materials by 122 to 185% through the Economic Pact 2066 of fiscal year 2066/67 leading to the closure of crusher industry for the past one and half month, has been a matter of grave concern for us, Federation of Nepalese Chamber of Commerce and Industry (FNCCI).
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Doors of FMs knocked
Crusher traders, who have been protesting in reaction to the government’s decision of 122 to 185% hike in the import of construction materials from India, have not given any signal to stop their protests. Instead, the protest has taken a large shape and covered almost all the border points
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Maoists meeting at Paris Danda
The meeting of the central committee of Maoists is in progress today at Paris Danda, their rendezvous point. The meeting has been continuing for more than four hours and the agendas discussed are the unconstitutional move of the president, vice-presidential row and their loss in the election of the
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Interim Parliament meeting today
The meeting of the Interim Parliament is being held today. There have been hindrances from the Maoist side for eleven times and it is likely to be disturbed today as well.
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Workshop begins on climate change
PM Madhav Kumar Nepal has addressed a conference held on mountain ecosystem change in South Asian countries, today, at Hyatt Regency hotel at 9 am. A regional ministerial workshop has begun from today to present the tools, methodology and approaches for ecosystem management in the Himalayan regions. Ministers from Maldives, Nepal, Sri Lanka, and Republic of Kyrgyzstan are attending the workshop. There will be discussions in the workshop on Nepal’s agenda to be presented in Copenhagen.
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Tourism promoters off to Bangkok
An assemblage of 80 tourism business houses is heading towards Bangkok, today, to promote the tourism of Nepal along with a program “Visit Nepal 2011” organized by Hotels Association of Nepal (HAN), which plans to attract one million tourists to Nepal in the year 2011.
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Protests at Bir Hospital cease
The continued conflict between the doctors and the hospital management demanding the salary hike and hike in the night duty allowance has finally ended. The doctors had been protesting with the demand of salary hike from NRs.12000 to NRs 18000 and hike in night shift allowance from NRs.250 to
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NEPALI STOCK MARKET
You will be directed to the official site of Nepal Stock Exchange (NEPSE).
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PM, Chinese Ambassador meet
Prime Minister Madhav Kumar Nepal and Chinese Ambassador met today to hold talks on bilateral relationship. PM Nepal was formally invited to pay a visit to China. There were discussions on measures to mitigate anti-China activities in Nepal. PM Nepal is supposed to have put
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Jha not taking oath, not leaving office
In a press release, Vice President Parmananda Jha stated that he would neither take oath in Nepali nor resign from his post. This statement comes after he had a meeting with Madhesi parties and a consensus was reached on the same. This is likely going to provoke wide protest from the public and fresh disagreements within the government.
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Reviewing Air Service Agreement
The Government of Nepal is holding discussions in order to review the air service agreement it has with India and Qatar. The discussions with Qatari side commences from today whereas talks with the Indian side begins from the third week of Bhadra. This is the second review of the agreement reached with both the countries. The agreement with India is being reviewed after 12 years and that with Qatar, after 7 years.
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Share Market: What Next?
The market today started with the index going up, signaling a revival from the down trend but the transaction in the day saw the figures move in the red zone. Share market has been into acute debate in recent times following the implementation of generalization of 19% promoter shares by Stock Board.
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SBI in Gulmi
Nepal SBI Bank has opened a branch in Tamghas, Gulmi. District Judge Madhav Prasad Pokharel and Chief District Officer (CDO) Parshu Ram Aryal jointly inaugurated the branch. With this, the bank has a network comprising of 32 branches and 26 ATMs. The bank has claimed that it has pioneered in introducing commercial banking services in Gulmi. The branch will provide all kind of banking services ranging from remittance
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CDBL floating public shares
City Development Bank Limited (CDBL), a regional level bank, is issuing public shares in a quantity of 600,000. The shares are being floated at a rate of NRs.100 per share and Ace Development Bank Limited (ADBL) has been appointed as the issue manager. The agreement for the same has been signed by Bishwo Mohan Adhikari, CDBL and Siddhanta Raj Pandey, ADBL.
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BGG opens Swarna Laxmi in Chitwan
British Gurkha Group (BGG) has established Swarna Laxmi Saving and Credit in Chitwan and started its operation. The company has been initiated with the motive of providing services to the general public through economic transactions, Gyan Bahadur Bomjon, Managing Director of BGG said.
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NEGOSIDA worries about security
In a programme organized by Nepal Gold and Silver Dealers’ Association (NEGOSIDA), Tej Ratna Shakya, president of the association spoke that depleting security status is resulting insecurity in the jewelry business
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Emergency services only at Bir Hospital
Emergency services only at Bir Hospital
Bir Hospital, where the residential doctors supposed to be in a number of 300, have been staging a protest demanding salary hike and hike in night duty allowance. This has led to the closure of all other services except Emergency
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CC meeting today
The market today has started with the index going up, signaling a revival from the down trend affected by policies and many other issues. Share market has been into acute debate in recent times following the implementation of generalization
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Jha will take his oath at 4 p.m.
Sunday, Kathmandu, The Cabinet meeting held at Singh Darbar today decided to hold the ceremony of oath of office and secrecy in Nepali language for Parmananda Jha as vice president at 4 p.m., The cabinet requested
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Interview
NADA Auto Show 2009 kicked off from today, Friday, August 28, 2009 at Bhrikuti Mandap Exhibition Hall, Kathmandu. The show organized by Nepal Automobile Dealers Association (NADA) in association with Global Exposition & Management Services Pvt. Ltd. (GEMS Pvt. Ltd.) will
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NC Nilambar Acharya elected for CC Chairman
NC Nilambar Acharya elected for CC Chairman
Today Constitutional commute election was contacted in public account committee hall Singh Darbar, NC leader Nilambar Acharya has been elected as Cc chairman he got 29 votes while Maoist Narayan Kaji Shrestha
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CDBL issuing public shares
City Development Bank Limited (CDBL), Pokhara, will be issuing its ordinary shares soon. Bishwo Mohan Adhikari, CEO of CDBL and Siddhant Raj Pandey, CEO of Ace Development Bank Ltd. (ADBL) reached an agreement on Thursday. ADBL will be acting as the issue manager for the IPO of 600,000 unit of primary shares rated at NRs.100 per share.
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PO Banking grows
Parsa District Post Office Savings Bank is beckoning people in the region with it programmes especially focused on middle-class people. It has been reported that the number of people visiting the bank has been increasing continuously. With a minimum balance of NRs.100,
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Time for CC Election
There were press releases that the CC election will be held from 8 o’clock in the morning today but politicians specially, CA members do not seem to have the sense of punctuality. There will be 59 voters in the election and leaders are gradually entering the election venue in their own slated time.
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VP Jha moves to SC
Vice President Parmananda Jha is taking himself to the Supreme Court (SC) today at 11.30 am to request the court to adjourn the need of taking oath in Nepali language and instead allow him to take oath in his mother language, Maithili, according to Mithilesh Kumar Singh.
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Doctor manhandled; hospital closed
All the services at Narayani Zonal Hospital have been closed today. Doctor Pappu Jaishwal, working for the hospital, was mistreated by the relatives of a patient admitted in the hospital. According to hospital records, the patient hails from Birgunj. The closure was called by the health workers of the hospital
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TAAN AGM and Presidential Election
The 30th Annual General Meeting (AGM) of Trekking Agents Association of Nepal (TAAN) along with the selection of the new President is concluding today. Two candidates have been nominated for the post. The nominated candidates are Sitaram Sapkota and DP Koirala.
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Dairy farmers to halt milk supply
Dairy farmers have continued their protest demanding DDC to increase their pay. Though DDC has increased the price of milk in the market by 2Rs. per litre, it has not made any change in the pay given to the farmers, the protesting farmers said. They want the DDC to pay 4Rs. more per litre.
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Who will be the CC chairman: Shrestha or Acharya?
Today, the last day of nomination for the post of Constitutional Committee (CC) Chairman, United Communist Party of Nepal –Maoist fielded Narayan Kaji Shrestha as its candidate for the same. Earlier, Maoists had decided to field their senior leader Dr. Baburam Bhattarai for the coveted post.
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TIA Runway Crack
Tribhuwan International Airport, the only international airport in Nepal, had to cancel all the incoming and outgoing flights for the afternoon after having cracks in the runway. According to airport authorities, everything was fine and even flights were conducted during the morning. The crack was noticed around 11:30am and the airport was closed thereafter.
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Loan defaulters to be blacklisted
In order to enable financial institutions effectively recollect bad debts, government has formed a committee and directed Nepal Industrial Development Corporation (NIDC) to blacklist the loan defaulters. The committee -formed in coordination of CA member Hari Roka- sent the orders after consultations with high ranking officials from NIDC.
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BoK opens new branch
Bank of Kathmandu (BoK) has opened its 31st branch at Tuphan Danda in Dadeldhura. Issuing a statement on Wednesday, BoK stated that the branch was brought into operation for not only providing financial services to the headquarters of the remote district but the neighboring villages as well. All banking services like deposits,
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Banks against Stock Board decision
Commercial banks have opposed the decision of Stock Board to halt the generalization of 19% promoter shares. After the policy was approved by Nepal Rastra Bank (NRB), commercial banks started making necessary preparations to convert the 19% promoter shares into public shares and almost all the homework had been
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Maoists boycott President Programmes
Maoists, as per their protest continuing since Shrawan 25th, finished their first phase of peaceful protest where they trained their cadres on the same, visiting different places throughout the country. Now, they are taking the protest to another
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VP likely taking oath in Nepali
Vice President Parmananda Jha, who came into dispute because of his oath in Hindi, is likely to retake his oath in Nepali language. Madheshi Janaadhikar Forum (MJF) has suggested him to not take the oath in Nepali
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Mini casino raided
Police detained persons from Maitidevi yesterday after they were found guilty of conducting mini casino in a house there. Police had got secret information and in the line of duty, they caught the casino players red
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Death Protest
Laba Dhoj Limbu was killed by unidentified persons at Fungling, Taplejung on Monday. Maoists today have raised voices in protest of the incident and called for the closure of Taplejung district. This kind of continued
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Bhairahawa Customs Office Padlocked
Crusher traders today padlocked the Customs Office at Bhairahawa. The protests, that came in reaction to the government’s decision of 300% hike in the import of construction materials from India, turned out to be violent
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CC Election tomorrow
CC Election for the selection of the chairman will be held tomorrow from 8:00 am. The nominations should be presented by 5:00pm today and the nomination list will be published at 5:30pm the same day. CPN Maoists,
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No generalization of 19pc promoter share
The increased pressure from investors to avoid converting 19% promoter share into public share has taken a shape as the plans have been halted as for now. On Tuesday, after reaching a consensus among
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Press Release of NADA Auto Show 2009
Here we present before our esteemed site viewers, the press release of NADA Auto show 2009 which is scheduled to kick off on August 28,2009 till September 1, 2009 at Bhrikutimandap.
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World Merchant issuing bonus
World Merchant Banking and Finance is issuing 30% bonus share and 12.12% cash dividend to its shareholders. The company has decided to issue the bonus share and cash dividend from the net profit
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Revised Trade Treaty welcomed
Private sectors have viewed the revised trade treaty between India and Nepal as both opportunity and challenge. Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chamber of Commerce
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NIBL giving 20% cash dividend, investors disappointed
Nepal Investment Bank Limited (NIBL), the largest bank of the private sector in reference to deposits and disbursing loans, after a decision from its Board of Directors, has decided to give away 20 percent cash dividend to its shareholders. Though this has been accepted by the Board of Directors, Nepal Rastra Bank (NRB)
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Maoists in fury
Maoists have called for Janakpur closure today in reaction to the death of their cadre, Birendra Ray. The incident happened after the killing of another Maoist cadre Lagan Dhoj Limbu of Libang-7 on Monday.
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1.5 million Assistance from NRNA
Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been conducting trade schools to generate skilled manpower for the nation. Non-Resident Nepali Association (NRNA) had shown a keen
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Rajendra Man Shakya, Chief Executive Officer of CMB Finance Limited, a versatile and reputed professional in the financial sector of Nepal, spoke to Nepal Business Times regarding the economic scenario, financial and banking sector of Nepal and the progress achieved by CMB over the years. Excerpts: 
Shekhar Raj Bastakoti
