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Investing in offshore companies: Dhakal and Bajgain deny report, say they have complied with country's law while running their businesses

Kathmandu, Jan. 18 -- Two out of more than 50 Nepalis who have been found investing in offshore companies and bringing in foreign direct investment in Nepal from tax havens have defended themselves by... Read More


More than Rs50b mopped out of financial system

Kathmandu, Jan. 18 -- At a time when the banking industry of the country is reeling under acute shortage of loanable fund, more than Rs50 billion has been mopped out from the total deposits of the ban... Read More


Banks may need central bank's nod to pick CEO

Kathmandu, Jan. 16 -- A former banker told the Post that the new law being introduced by the central bank was essential to stop the practice among promoters of hiring their yes-man as the CEO Jan 16,... Read More


Nepal Investment Bank holding talks to recover money withdrawn by Sumargi

Kathmandu, Jan. 15 -- Responding to written instructions from the central bank, Nepal Investment Bank said that it had started consultations with its legal advisors to bring back the money withdrawn b... Read More


Bheri Babai calls bids for hydropower component

Kathmandu, Jan. 12 -- The Bheri Babai Diversion Multipurpose Project finally moved to appoint a contractor to execute its hydropower component. The project office initiated the public procurement proc... Read More


Confusion persists over getting Sumargi's money back to bank

Kathmandu, Jan. 11 -- Confusion persists even two days after the Supreme Court quashed its own interim order to let controversial businessman Ajeya Raj Sumargi withdraw the money frozen in the bank ov... Read More


Andritz to install penstock pipes at Upper Tamakoshi

Kathmandu, Jan. 10 -- Texamo Railway Engineering, the Indian contractor for the hydro-mechanical portion of the Upper Tamakoshi Hydropower Project, has subcontracted a crucial part of its job to Austr... Read More


Developerthreatens topull out from Nepal overhedge fund row

Kathmandu, Jan. 8 -- The developer, according to a highly placed source at the electricity authority, is ready to contribute only $5 million to the fund Jan 8, 2019-Nepal Water and Electricity Develo... Read More


Nepal begins talks to make banned Indian notes legal

Kathmandu, Jan. 6 -- The Nepal government has initiated talks with India to make Indian bank notes of denominations higher than INR100 legal tender in the country after banning the use of such notes i... Read More


Sugar mill owners slam hike in cane floor price

Kathmandu, Jan. 5 -- Shashi Kanta Agrawal, president of the Sugar Producers' Association, told the Post that the government decision was made unilaterally without consulting with mill owners Jan 5, 2... Read More