Business

Hitachi to buy majority stake in ABB's power grid arm for $6.4 bn access_timeDecember 17

TOKYO–Japan's Hitachi on Monday announced plans to buy a majority stake in the power grid business of Swiss-Swedish engineering giant ABB for $6.4 billion, in what would be its biggest ever buyout.  The deal would make Hitachi the world...

Share investors launch protest programmes access_timeDecember 17

Kathmandu–The share investors' pressure group has unveiled a series of protest putting forth various demands. Their demands include reforms in the capital market, protection of investors' investment and creating environment conducive for ...

Tencent Music raises $1 billion in US IPO access_timeDecember 12

NEW YORK–Tencent Music, the streaming division of Chinese technology giant Tencent, said Tuesday it will raise $1.07 billion from the pricing of its US public share offering.  The group will enter the New York Stock Exchange Wednesday w...

Indonesia's Tokopedia raises $1.1 bn from top investors access_timeDecember 12

JAKARTA– Indonesia's top e-commerce site Tokopedia said Wednesday it has raised $1.1 billion in funding from investors including Japanese tech giant SoftBank and Chinese online store Alibaba.  The latest financing round for Tokopedi...

The French government will Tuesday try to convince lawmakers and the public access_timeDecember 11

PARIS– The French government will Tuesday try to convince lawmakers and the public that President Emmanuel Macron's speech met the demands of the "yellow vest" movement, even as many demonstrators said they were disappointed and vow...

Humla village facing shortage of iodised salt access_timeDecember 10

Humla– Sarkegad Rural Municipality in Humla is reeling under the shortage of iodised salt.  As a result, the people are forced to walk two days to the district headquarters to buy the salt. But those who can afford it buy a packet of the sa...

Rice production increases by 12% in Province 1 access_timeDecember 10

Biratnagar–Rice production in Province 1 this year increased by 12 per cent compared to the previous year.  According to the Regional Agriculture Directorate Office, Biratnagar, a total of one million 241 thousand 639 metric tons of rice wa...

DPM Pokharel asks UAE to invest in Nepal access_timeDecember 6

    Kathmandu – Deputy Prime Minister and Defence Minister Ishwar Pokharel has asked the business communities and investors from the United Arab Emirates (UAE) to invest in Nepal.  DPM Pokharel said so during a meeting w...

Xi calls for more business cooperation with Panama access_timeDecember 4

PANAMA CITY –  Chinese President Xi Jinping on Monday urged the business communities in China and Panama to expand cooperation and achieve common development.  Xi made the remarks when he and his Panamanian counterpart, Juan Carlos...

Additional stocks worth Rs 11 billion listed in NEPSE access_timeDecember 4

Kathmandu – Additional stocks equivalent to around Rs 11.33 billion have been listed in the Nepal Stock Exchange (NEPSE).  According to the latest details issued by the Nepal Rastra Bank (NRB), the paid-up capital of the companies liste...

China, Hong Kong stocks rally after US trade truce access_timeDecember 3

SHANGHAI – Chinese and Hong Kong stocks closed up sharply on Monday and the yuan strengthened after Washington and Beijing announced a truce in their trade war.  The benchmark Shanghai Composite Index surged 2.57 percent, or 66.61 point...

US, China agree to trade war ceasefire, more talks access_timeDecember 2

BUENOS AIRES – US President Donald Trump and China's Xi Jinping agreed Saturday to suspend any new tariffs in the escalating trade war between the world's two largest economies, even if huge existing duties will remain in place.  ...

New Zealand intelligence bans China's Huawei from 5G rollout access_timeNovember 28

WELLINGTON –New Zealand's largest telecoms carrier Spark said Wednesday that the country's intelligence agency had barred it from using equipment provided by China's Huawei in its 5G network as it posed "significant national secu...

India bound migrants to get free accident insurance scheme access_timeNovember 28

  Baitadi – The Patan Municipality in Baitadi has decided to offer accident insurance service for free to the migrant workers going to India. This is the first of its kind targeting the India bound migrants though the migrant workers goin...

GM to close Canadian factory, putting 3000 jobs at risk: report access_timeNovember 26

MONTREAL – General Motors is expected to announce on Monday the closure of a factory in the Canadian city of Oshawa, putting almost 3,000 jobs at risk, Canadian channel CTV reported.  The decision is linked to the American automaker'...

ADB to provide US Dollar 343.9 million access_timeNovember 20

Kathmandu – The Asian Development Bank has agreed to provide US Dollar 343.9 million as development assistance for two projects.  At a programme organised at the Ministry of Finance today, Secretary at the Ministry, Rajan Khanal, on the...

Bloomberg donates 'unprecedented' $1.8B to Johns Hopkins access_timeNovember 19

BALTIMORE –Former New York City Mayor Michael Bloomberg announced Sunday he's donating $1.8 billion to his alma mater, Johns Hopkins University, to boost financial aid for low- and middle-income students.  The Baltimore university s...

Prices of petrol, diesel slashed further on Monday access_timeNovember 19

New Delhi,India – Fuel prices once again witnessed a decline on Monday in New Delhi and Mumbai.   In New Delhi, petrol is being sold at Rs 76.52 per litre after a decrease of 19 paise, and diesel at Rs 71.39 per litre after a decrease of...

Goldfish International Pvt. Ltd. announces its partnership with SML ISUZU Limited, India. access_timeNovember 16

 India –. Gold Fish International Pvt. Ltd. is a subsidiary of Laxmi Group and is now authorized distributor of SML ISUZU vehicles for Nepal. With this partnership, Goldfish International Pvt. Ltd.  enters into commercial vehicle indu...

Nepal and World Bank sign two agreements access_timeNovember 14

Kathmandu –The Government of Nepal and the World Bank have signed two agreements totaling US$ 155.7 million (equivalent to 18 billion Nepalese Rupees) today.  The amount would be invested in the construction and maintenance of safe, res...