Page last updated at 2014-10-25 11:21:16 RSS
  BUSINESS & ECONOMY
China, 20 Other Countries Initiate New Asian Bank
ASSOCIATED PRESS
BEIJING, Oct 25: Twenty-one Asian nations have signed on to a China-driven initiative to create a new development bank for Asia that´s aimed at boosting infrastructure investment of all kinds. Beijing sees that as a way to raise its international standing, but Washington opposes the move as an unnecessary and potentially damaging rival to established institutions such as the World Bank.
MoU Signed For Establishing AIIB
Myrepublica
Nepal's Economic Condition: RS 10 B As Deficit In BOP: NRB
MYREPUBLICA
KATHMANDU, Oct. 23: Nepal recorded a Rs 10.5 billion deficit in the balance of payment in the first two months of the current fiscal year in the context it had Rs 33 billion surplus in the last fiscal year.

According to the report unveiled by the Nepal Rastra Bank (NRB) on Wednesday, in the reviewed period, the current account has a deficit of Rs 9.98 billion. In the previous year, it had a surplus of Rs 18.35 billion.
Transaction Of Gold Increases
MYREPUBLICA
KATHMANDU, Oct 23: Transaction of gold has increased with the beginning of Tihar festival.

According to the Nepal Gold and Silver Dealers´ Association (NEGOSIDA), 25 kilograms of yellow metal and 200 kilograms of silver is being sold every day this week in Kathmandu.
Suspend Tourism Board Chief Nirola: PAC To Govt
KRITI BHUJU
Cites misuse of funds, other misdeeds

KATHMANDU, Oct 23: A meeting of the Public Accounts Committee (PAC) on Wednesday directed the Ministry of Culture, Tourism and Civil Aviation (MoCTCA) to suspend Subash Nirola, acting CEO of Nepal Tourism Board, after finding him responsible for massive corruption at the board.

Janardan Sharma, chairman of the PAC, read out the decisions taken by the committee and approved by PAC members.
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