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Page last updated at 2014-04-17 22:26:03 RSS
  MoF Writes To EPF, CIT For Loans To NOC
    KATHMANDU, April 17:The Ministry of Finance (MoF) dispatched letters to the Employees Provident Fund (EPF) and Citizen Investment Trust (CIT) on Thursday asking them to jointly provide Rs 2.5 billion in loans to debt-ridden Nepal Oil Corporation, the state-owned sole petroleum importer of the country, so that it can pay off part of its dues to Indian Oil Corporation (IOC), NOC’s supplier.

The move comes as the government struggles to maintain a smooth supply of petroleum products.

  Cine De Chef Opens Movie Theater With Dining Option
    KATHMANDU, April 17: Cine De Chef (CDC) is opening two theatres -- Cine Dine and Cine -- at CTC Mall in Sundhara. According to the company, the new cinema halls combine cinema-viewing experience with food delicacy.

“The theater has a built-in kitchen that serves full breakfast, lunch and dinner, besides the regular tit-bits,” reads a statement from CDC.

  NOC Likely To Get Rs 2.5 Billion Today
    KATHMADU, April 16 : The government has requested Citizens Investment Trust (CIT) and Employees´ Provident Fund (EPF) to lend Rs 2.5 billion to Nepal Oil Corporation (NOC) in order to ease supply of petroleum products.

The cash-strapped NOC had asked the government to arrange Rs 5 billion to clear its outstanding dues to its sole supplier Indian Oil Corporation (IOC).

  RBB To Focus On Social Banking
    KATHMANDU, April 16: Rastriya Banijya Bank (RBB) held its annual general meeting for fiscal year 2012/13 on Wednesday, making pledge to focus on social banking.

The meeting chaired by Dr Narahari Dhakal, the chairperson of the bank’s board, unanimously passed the annual report, according to a bank statement.

  TBi Holdings To Invest Rs 1 Billion In Tunnel Highway
    KATHMANDU, April 16 : Nepal Purwadhar Bikas Company Limited (NPBCL) on Wednesday signed share purchase agreement worth Rs 1 billion with TBi holdings to develop the Kathmandu-Kulekhani-Hetauda Tunnel Highway.

NPBCL is an infrastructure development company promoted by the private sector. It plans to develop the highway by the end of 2016 as per the agreement that it signed with government in May 2013. The total estimated cost of the project is Rs 35 billion. The ground breaking ceremony of the project was held in November 2013.

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