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Four Indians arrested in Nepal for smuggling gold

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Four Indian nationals were arrested on Sunday from the national capital’s Tribhuvan International Airport for allegedly trying to smuggle nearly 6 kgs of gold, police said. The four were arrested as soon as they landed from a Thai International Airlines aircraft from Bangkok at the airport here. “Police have confiscated from them 5.8 kgs of gold,” a bulletin issued by ... Read More »

‘Nepal can be bridge for India-China trade’

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“Nepal could be a corridor to move goods between India and China that cuts down transport time and saves money. It is in a fantastic position to create a win-win situation for all three,” Vaidya said. He pointed out that Nepal borders the lesser developed parts of both neighbours,” Suraj Vaidya, a past president of Nepal’s industry chamber FNCCI said ... Read More »

Five individuals charged with evading revenue worth Rs169.28 million

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The Department of Revenue Investigation on Sunday filed a case against five individuals at Kanchanpur District Court on charge of evading revenue of Rs169.28 million while smuggling 32kg of gold from India. The defendants in the case are Laxman Tiruwa, Suraj Tiruwa, Sarita Tiruwa, Indira BK and Shankar Bahadur BK who have been accused of revenue evasion while smuggling the ... Read More »

Indian arrested for possessing hashish in Nepal

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An Indian national was arrested here and four kilo hashish recovered from his possession on Sunday, police said. The 43-year-old man has been identified as Shubhanarayah Shah, a resident of Bihar’s Motihari town. He was arrested from Shankaracharya gate at Birgunj area and 4 kg of the contraband was recovered from his possession, police said. Read More »

Nepal seeks investment from Malaysia, Singapore

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The Nepal government and private sector representatives visited Malaysia and Singapore this week to learn about reforms, investments, and growth in those countries, and to highlight foreign investment opportunities in Nepal ahead of the Nepal Investment Summit on March 29 and 30. The delegation, hosted by the Malaysia and Singapore offices of World Bank Group, met with Malaysian Finance Minister ... Read More »

Registration of social sites must for tax purpose: Minister Banskota

Gokul Prasad Baskota, Minister of Information and Communications. Photo: Balkrishna Thapa/ THT

Amid criticism that the government is preparing to control the operation of social networking sites by making it necessary for them to register in the country, the government has clarified that registration of social networking sites is necessary to bring them under the tax net of the government. Addressing a discussion programme on Information and Technology Bill that has been ... Read More »

Pay Pending Taxes: SC to Top Nepali Telecom Cos

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In a milestone move, the Nepal Supreme Court (SC) ordered telecom operators Ncell and Malaysia-based Axiata to pay ‘capital gains tax’ worth NPR 61 billion to the Nepal Government. The decision was reached by a five-member large full-bench including newly-appointed Nepal Chief Justice Cholendra SJB Rana and Justices Ananda Mohan Bhattarai, Meera Khadka, Bishwambhar Shrestha and Tanka Mokta. The justice-delivery ... Read More »

Price of gold, silver plummets

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As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price was fixed at Rs 61,500 per tola on Sunday. Though the price of gold remained constant on Monday, it fell by Rs 500 per tola to Rs 61,000 a tola on Tuesday. Gold price further dropped by Rs 300 a tola on Wednesday to Rs 60,700 ... Read More »

Nepal and Bangladesh sign MoU on Avoidance of Double Taxation

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KATHMANDU: Nepal and Bangladesh today signed a Memorandum of Understanding (MoU) on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. Revenue Secretary Lal Shanker Ghimire and Senior Secretary, International Resources Division, Ministry of Finance and Chairman of the National Board of Revenue of Bangladesh, Mosharraf Hossain Bhuiyan, signed the agreement in ... Read More »

Nepal-India Trade Treaty Review Meeting 2019

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In a bid to address Nepal’s trade concerns, Nepal and India held the Nepal-India Trade Treaty review meeting during February 07-09, 2019. Senior officials from Nepal and India met at Pokhara to review the 2009 Trade Treaty signed by both countries. The two-day meeting is the second Nepal-India Joint Secretary-level meeting since 2009, where India will respond to Nepal’s proposal ... Read More »

Gold price increases, silver remains constant

As per the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold price was fixed at Rs 62,500 per tola on Sunday. Gold became dearer by Rs 200 a tola to Rs 62,700 per tola on Monday. Though the price of the yellow metal remained constant on Tuesday, it increased by Rs 600 per tola on Wednesday to settle ... Read More »

Nepal to join travel mart as partner

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Nepal will act as a partner country in the upcoming three-day Novoair Dhaka Travel Mart 2019 starting on March 21. The partnership will enhance cooperation in development of tourism in Bangladesh and Nepal and promote tourist exchanges, according to a statement. A memorandum of understanding in this regard was signed by Kazi Wahidul Alam, editor of The Bangladesh Monitor, and ... Read More »

Now is the most appropriate time to invest in Nepal, prime minister says

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Prime Minister KP Sharma Oli on rolled out the red carpet to all aspirant investors saying that Nepal has an immense possibility for investment and that it can offer both secure opportunities and profit. While delivering the inaugural speech at the Kantipur Conclave, the Kantipur Media Group’s flagship global event, Oli said that business opportunities in Nepal are backed by ... Read More »

33-kg gold smuggling case: Alleged supplier Hari Sharan Khadka arrested in Dubai

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United Arab Emirates police have arrested Hari Sharan Khadka, said to be the supplier of illegal gold in the 33-kg gold smuggling case, from Dubai. The arrest was made after Interpol issued a Red Notice against 12 individuals including Khadka for their alleged involvement in the smuggling upon the request of Nepal Police. Khadka is one of the suspects believed ... Read More »

Nepal-India trade treaty review meet tomorrow

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A Nepal-India Trade Treaty review meeting between the commerce joint secretaries of the two countries is set to kick off in Pokhara from Thursday. The Ministry of Industry, Commerce and Supplies (MoICS) has already prepared the draft of agendas to be presented at the meeting. The finalised agendas were briefed to Prime Minister KP Sharma Oli today. At the two-day ... Read More »

World Bank Predicts a 5.9% Growth Rate for Nepal in 2019

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In a progressive update for Nepal, the World Bank (WB) recorded Nepal’s economic growth at 5.9 percent in the current fiscal year 2018-19 from a June 2018-forecast of 4.5 percent. However, WB’s growth projection is lower than Nepal’s economic growth rate in FY 2017-18. In its flagship report ‘Global Economic Prospects’ released on January 08, 2019, the global authority observed ... Read More »

Three arrested with 4kg gold from Gajuri

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Province 3 Police Unit has arrested three persons in possession of four kg gold from Gajuri in Dhading district on Thursday. Acting on a special tip-off, a police team under sub inspector Buddhiram Tharu from Province Police Office, with the assistance from Dhading police, arrested Sanjit Waiba, 27, of Uttargaya Rural Municipality-2 in Rasuwa district, Surendra Tamang, 22, and Bikas ... Read More »

Rs 35.8 billion parked in Swiss banks

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Nepalis have parked Rs 35.8 billion in Swiss banks, violating the country’s law, which bars Nepalis from transferring funds abroad, says a year-long investigation conducted by the Centre for Investigative Journalism in collaboration with the International Consortium of Investigative Journalists. Nepali account-holders have earned interest of around Rs 774.1 million from the funds they deposited in Swiss banks, says the ... Read More »

Nepal, Japan agree to resume commercial flights

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KATHMANDU, Nepal — Japan and Nepal have agreed to allow state-run Nepal Airlines to resume flights between the two Asian nations. The agreement was signed Wednesday at the beginning of two-day visit to Nepal by Japanese Foreign Minister Taro Kono. No Japanese airlines fly to Nepal, and Japanese tourists who visit Nepal and Nepalese students and workers who travel to ... Read More »

‘More than one million tourists visited Nepal in 2018’

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Over one million tourists visited Nepal in 2018 and the country aims to double the number by 2020, the tourism authority said on Monday. Nepal Tourism Board organised a special programme to mark the 20th anniversary of its establishment. The board was set up in 1998, when Nepal observed ‘Visit Nepal Year’ in an effort to attract half a million ... Read More »