Nepal Economic Digest (Feb. 27, 2020)


February 27, 2020


Nepal Economic Digest (Feb. 27, 2020)
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KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

BoK announces 25% cashback on mobile top-up

The Bank of Kathmandu has announced it would offer 25% cashback on mobile top-ups for both Nepal telecom and Ncell users on the occasion of their 25th anniversary.

According to the offer, the customers are required to carry out their first transaction through BoK Smart on top-up.

Citrus industry generates more than Rs 770 million in economic activity

More than Rs. 770 million has been generated by the citrus industry in Gulmi, Argakhanchi and Myagdi districts.

The production of orange has surged in those districts as farmers have become more engaged in commercial farming. Local farmers have turned entirely into orange farming instead of other crops.

The traders from Butwal have been booking the harvest even before the fruits start ripening.

Pokhara hotels report huge booking cancellations

Due to the rapid increase in coronavirus cases in many countries, tourism in Nepal seems to have taken a hit.

Hotel bookings in Pokhara have decreased significantly. Almost 100% of Chinese tourists have canceled their booking and at the same time hotel reservations from Korean, Japanese among other tourists have also gone down. Similar cases have been reported by hotels in Thamel.

HoR passes Bank and Financial Institutions Bill (First Amendment)

The House of Representatives (HoR) on Wednesday endorsed the Bill related to Bank and Financial Institutions (First Amendment). Speaker Agni Sapkota had tabled the bill at the meeting.

Chandra Dhakal announces his candidacy for FNCCI Senior VP

Chandra Prasad Dhakal on Wednesday announced his candidacy for the post of Senior Vice President (VP) of Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Speaking at the announcement program, Dhakal said that he will lead the organization as per the businessmen’s hope and trust.

“I will never let down the hope of the industrialists, businessmen and will be always with you in every moment”, he added, “The country will benefit from the partnership of the private sector. I will, therefore, endeavor towards that end”.

Likewise, he said that he will coordinate with the President to address all problems faced by the private sector. Dhakal is the Chairman of IME Group, Global IME Bank and Chandragiri Hills Limited and promoter of Dish Home Media Pvt. Ltd.

He is currently the FNCCI Vice President.

(Compiled and prepared by Swastik Aryal and Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries. The Institute for Strategic and Socio-Economic Research (ISSR), Nepal’s independent think tank, and Khabarhub — Nepal popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.

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