KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Over 3 dozen businesses, services to be halted in Kathmandu Valley
The Joint District Security Committee’s meeting of Kathmandu, Bhaktapur and Lalitpur district has issued orders restricting more than three dozen services and businesses in Kathmandu Valley.
Janak Raj Dahal, the Chief District Officer of Kathmandu district said that assembling in public places, joining the crowd, procession, organization of the feasts and all religious activities except for regular offerings or worships are prohibited in the valley.
Similarly, the operation of the assemblies, training, seminars, cinemas, party palaces, swimming pool, spa, gym centers, group sports, and libraries is also restricted until further notice.
The committee has also decided to restrict the trade and business carried out via pull/pushcart, cycle etc, scrap collection, transportation of the labors or workers and the gatherings in hotel and restaurant except for take-away.
Ratna Raj Bajracharya appointed CEO of Global IME Bank
Ratna Raj Bajracharya has been appointed as the Chief Executive Officer (CEO) of Global IME Bank. Chartered Accountant Bajracharya was appointed to the post for the second term.
A meeting of the bank’s Board of Directors on Friday appointed Bajracharya for a tenure of four years. He will be assuming his duties from August 17.
The post was vacant after Parashuram Kunwar, who became the Chief Executive Officer after the merger of Global IME Bank and Janata Bank, resigned citing personal reasons.
Over Rs 1 million collected by Commerce department in fines last week from unscrupulous traders
Department of Commerce, Supplies and Consumer Protection has successfully collected more than Rs 1 million in cash fines from traders on the charge of misconduct in the last one week.
According to the department’s records show that in the one week time that ended on Friday, a total of Rs 1,055,000 was collected from various outlets in the Kathmandu Valley under the charge of violating the provisions of the Consumer Protection Act 2018.
Likewise, as per the department, many traders taking advantage of the ongoing threat of coronavirus have been manufacturing face masks without receiving government licenses while a number of other outlets were found carrying out transactions without using invoices.
(Compiled and prepared by 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.
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