Business

IMS Group acquires national distributorship for Energizer in Nepal access_timeOctober 2

Kathmandu–IMS Group has acquired the sole national distributorship for Energizer Power Banks in Nepal. Energizer, an American brand is one of the world’s largest manufacturers of primary batteries, portable battery-powered devices, and...

Tilottama investment summit: over Rs 50 billion is expected to pour in access_timeSeptember 25

Butwal– Tilottama municipality in Rupandehi district is organizing an investment summit on September 26. The first-of-its-kind summit will have representations from federal, state and local tiers of governments, private sector, foreign investors ...

Committee formed to investigate implementation of budget access_timeSeptember 23

Surkhet–The Council of Ministers of Karnali Province has formed a committee to investigate implementation of budget allocated for this current fiscal year 2019/20. In a press conference organized today to make public the decisions made in the ...

AIIB to invest 1.09 bln USD in ASEAN countries to boost access_timeSeptember 22

NANNING–The Asian Infrastructure Investment Bank (AIIB) will invest in six projects with 1.09 billion U.S. dollars in countries of the Association of Southeast Asian Nations (ASEAN), AIIB President Jin Liqun has said. The bank will play a bigg...

China's trade with US shrinks as tariff war worsens access_timeSeptember 8

BEIJING–China's trade with the United States is falling sharply as the two sides prepare for more negotiations with no sign of progress toward ending a worsening tariff war that threatens global economic growth. Imports of U.S. goods fell ...

Tokyo shares jump on US-China trade talks, easing Brexit fears access_timeSeptember 5

TOKYO–Tokyo shares jumped Thursday as investors cheered the news that China and the United States will resume trade talks, as well as easing worries over Brexit and the crisis in Hong Kong. The benchmark Nikkei 225 index rose 2.12 percent, or ...

TRUMP MOVES AHEAD WITH NEW TARIFFS ON CHINESE PRODUCTS access_timeSeptember 1

WASHINGTON–Washington moved ahead Sunday with new tariffs on Chinese imports as it stepped up a high-pressure campaign aimed at coercing Beijing to sign a new trade deal even amid fears of a further slowing of US and world growth. The addition...

Japan, US reach broad agreement on trade deal: reports access_timeAugust 25

TOKYO–Japan and the United States have reached a broad agreement in trade negotiations, reports said Sunday, with the leaders of both countries expected to hold talks on the sidelines of the G7 summit. "We saw a great progress," Japa...

Huawei dismisses new suspension of 'unjust' US ban access_timeAugust 20

BEIJING–Huawei on Tuesday dismissed Washington's three-month delay to a ban on US firms selling to the Chinese tech giant and said the decision would not change the fact it had been "treated unjustly". The US Commerce Department ...

Gold price closes lower in Hong Kong access_timeAugust 14

HONG KONG–The gold price in Hong Kong closed at 14,050 Hong Kong dollars (about 1,789.81 U.S. dollars) per tael on Wednesday, down 210 Hong Kong dollars from the previous trading day, according to the Chinese Gold and Silver Exchange Society. (1 ...

Huawei unveils own operating system to compete with Android access_timeAugust 9

DONGGUAN–Chinese telecom giant Huawei unveiled its own operating system on Friday, as it faces the threat of losing access to Android systems amid escalating US-China trade tensions. Richard Yu, the head of Huawei's consumer business, told...

Japan Airlines' quarterly net profit down 32% access_timeJuly 31

TOKYO–Japanese carrier Japan Airlines said Wednesday its first-quarter net profit dropped 32.1 percent due to growing fuel costs and the impact of the US-China trade war on cargo demand. Bottom-line profit fell to 11.9 billion yen ($110 million) ...

Renault profits skid on Nissan woes access_timeJuly 26

PARIS– French automaker Renault said Thursday that its profits were halved in the first half of this year, swerved off course by the current crisis at its Japanese partner, Nissan. Renault said in a statement that its net profit nosedived to 970 ...

Leaders from Australia, China discuss future trade at Perth summit access_timeJuly 26

SYDNEY–The Australia-China Emerging Leaders Summit (ACELS) has been taking place from Wednesday to Saturday in Perth, Western Australia (WA), with 80 young leaders coming to discuss the future of trade and investment. Organized by the Australi...

Mechinagar unveils Rs 1.88 billion budget access_timeJuly 25

Bhadrapur–Mechinagar municipality has unveiled its budget of around Rs 1.43 billion for the fiscal year 2019/20. The municipality made public its annual budget at a press conference on Wednesday. Meena Uprety, deputy mayor of the municipality,...

Restructuring plunges Deutsche Bank into red in Q2 access_timeJuly 24

FRANKFURT AM MAIN– Germany's biggest lender Deutsche Bank on Wednesday reported a net loss of 3.2 billion euros ($3.6 billion) in the second quarter, as the troubled financial giant lurched into its latest restructuring. "We have alre...

Nissan to cut over 10,000 jobs worldwide: reports access_timeJuly 24

TOKYO– Japanese car giant Nissan plans to cut more than 10,000 jobs worldwide, reports said Wednesday, as it works to turn its fortunes around after its former chief was arrested over financial misconduct. The cuts come after Nissan announced ...

NRB selling its NEPSE share access_timeJuly 16

Kathmandu–Nepal Rastra Bank (NRB), the central bank in the country, is pulling out its investment in the Nepal Stock Exchange (NEPSE) Limited. In a notice today, the bank states that it is selling the share of NEPSE at an auction and the start...

Businessman in trouble because of false ‘Money Laundering’ news access_timeJuly 16

 Kathmandu– As the consequence of the news published by Centre for Investigative Journalism (CIJ) Nepal titled ’55 Nepalese invested in offshore companies,’ some businessmenen are facing serious problems. Some of them have e...

AIIB expands membership to 100 in three years access_timeJuly 14

LUXEMBOURG– The three-year-old Asian Infrastructure Investment Bank (AIIB) on Saturday further expanded its membership to 100 with the approval of the African newcomers of Benin, Djibouti and Rwanda. The decision was made unanimously by AIIB&#...