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Page last updated at 2014-04-21 07:58:49 RSS
  BUSINESS & ECONOMY
 
  HIDCL To Issue Public Shares Worth Rs 2 Billion
       RUDRA PANGENI  
 
    KATHMANDU, April 20: The Hydroelectricity Investment and Development Company Limited (HIDCL) is preparing to issue ordinary shares worth Rs 2 billion.

The second annual general meeting (AGM) of the company held on April 8 decided to float 20 million units of shares with face value of Rs 100 each to general public within this fiscal year.

 
  Closure Of Casinos Leaves More Than 11,000 Jobless
       REPUBLICA  
 
    KATHMANDU, April 20: The government decision to close all casinos with effect from Sunday has left more than 11,000 people jobless.

Kishore Silwal, president of Casino Association of Nepal (CAN), told Republica that all casinos shut operations from Sunday as per the government decision. “The decision, however, has left more than 11,000 people employed by the casinos jobless,” he added.

 
  Probe Commission Raid Troubled Oriental Cooperative
       SAGAR GHIMIRE  
 
    KATHMANDU, April 20 : A commission formed by the government to probe into troubled cooperatives on Sunday raided the Maitidevi-based central office of Oriental Saving and Credit Cooperative after the cooperatives chairman Sudhir Basnet started giving investigation officials the slip instead of cooperating with them.

A team of officials comprising Balaram Niraula, chief of Division Cooperatives Office, Kathmandu, government attorney Keshav Gautam, auditor Sagar Sigdel, police personnel conducted the raid in the presence of people victimized by the cooperative.

 
  NRB Introduces Acquisition Bylaw
       REPUBLICA  
 
    KATHMANDU, April 20 Nepal Rastra Bank (NRB) on Sunday introduced ´Banks and Financial Institutions (BFIs) Acquisition Bylaw 2070´, allowing big and robust BFIs to acquire other BFIs with low net worth.

According to the bylaw, financial institutions of Class A, B and C can acquire another BFI. However, NRB has allowed acquisition of Class ´D´ financial institutions among the same class only.

 
  Govt Gearing Up For Transport Fare Hike
       SUJAN DHUNGANA  
 
    KATHMANDU, April 20: The government is making final preparation to revise public transportation fare in line with rise in prices of fuel and non-fuel components.

Officials at the Department of Transport Management (DoTM) told Republica that they had already completed studying fuel and non-fuel costs. “We have completed changes in prices of fuel and non-fuel components over the past year,” Sharad Adhikari, acting director general of DoTM, said, adding, “We will fix the new fare as per the changes in price of these components.”

 
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