The foreign direct investment (FDI) commitment increased by a whopping 69.29 percent in the first half of the current fiscal year, which officials attributed to the revision of the minimum investment threshold for foreign investors. According to the Department of Industry, the FDI commitment totalled Rs22.33 billion for 226 projects during the review period. The...
Nabil Bank is struggling to get a counter-guarantee amount from a Chinese bank, causing a delay in releasing the bank guarantee amount equivalent to $7.44 million (Rs991 million) to Trishuli Jal Vidyut Company. After deciding to terminate the contract with Shuifa ANHE Group, the contractor hired to develop the 37MW Upper Trishuli 3B Hydropower Project,...
The task of blacktopping in the eastern section of the Narayangarh-Butwal road stretch along the East-West Highway has gained momentum. Blacktopping has been completed in 18.5 kilometers out of the total 65 kilometers from Gaidnakot to Daunne in the eastern section.According to the contract manager of the China State Construction Engineering Corporation Limited, Rakesh Jha,...
Why does Nepal struggle to do business with its northern neighbor? KATHMANDU, Sept 23: Nepal has not been able to benefit from trade with its northern neighbor China, which has the second largest economy in the world. Since China does not prioritize trade with Nepal, the trade deficit with China is deepening. Politically, even though...
There is a long way to go before the construction of the proposed Nepal-China cross-border transmission line begins, even though the two countries have agreed to build one through Rasuwagadhi-Kerung border point, a senior official of the Nepal Electricity Authority said. During Prime Minister Pushpa Kamal Dahal’s ongoing visit to the northern neighbour, the two...