KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Prabhu Capital’s ‘Three Years Free Demat Campaign’ extended till Sept 16
Prabhu Capital Limited has extended the ‘Three Years Free Demat Campaign’ till September 16.
It had launched a three-year free Demat account and my share scheme for customers who open a Demat account throughout the Nepali month of Shrawan (mid-July to mid-August).
Considering the demand of the customers, Prabhu Capital has extended the free plan, it said in a statement.
As per the request of the Government of Nepal and the Securities Board of Nepal to provide the service through electronic means, Prabhu Capital has operated the facility of opening an online account from https://dematapply.prabhucapital.com.
In addition to this, the central office of Prabhu Capital Limited, Kamaladi and all 210 branches of Prabhu Bank Limited across Nepal are also operating the facility to open Demat and my share account, according to the press release.
NEA makes an annual profit worth Rs 11.6 billion
Nepal Electricity Authority (NEA) has been successful to gain a profit of Rs 11.6 billion in the last fiscal year 2019/20, according to the financial statement made public on the occasion of its 35th anniversary.
The NEA has earned an accumulated profit of Rs 4.87 billion in the last FY. Likewise, it has earned a profit of Rs 1.47 billion, Rs 2.85 billion and Rs 9.81 billion in FY 2016/17, 2017/18 and 2018/19, respectively.
Although the government had cleared NEA’s loss of Rs 27 billion up to FY 2010/11, it continued to incur loss in the days to come. The organization was in Rs 8.89 billion loss in the FY 2015/16.
Realme launches four new AIoT devices
Realme, the fastest growing smartphone brand in the world announces the launch of its new AIoT products in the Nepali market.
The four new devices include the realme Band, realme Buds air, realme buds air neo, and the realme watch. All devices will be available from any of our 950+ offline retailers and on Daraz.com.np.
Dozens of Nepalis stranded at Dubai airport after flight canceled
Dozens of home-bound Nepali people have been stranded at the Dubai International Airport after their scheduled flight was canceled at the eleventh hour.
The flight of Nepal Airlines scheduled to take off at 3:55 am today was canceled citing lack of preparations, leaving many Nepalis in high and dry.
Desperately awaiting their flights to return home, they had reached the airport five hours earlier.
The flight was canceled after the CCMC wrote a letter to the Ministry of Culture, Tourism and Civil Aviation requesting the latter not to allow flights unless the hotel quarantine is ensured.
With this, the flights which have earlier received permission have also been cancelled. CCMC asked the Ministry to halt flights saying that the hotel quarantines for foreign returnees have not yet been arranged.
Govt decides to take Rs 24 billion loan, Rs 4 billion grant
The government has decided to take Rs 24 billion concessional loan from the Asian Development Bank (ADB) to improve the power transmission and distribution system.
Minister for Finance, Communications and Information Technology Yubaraj Khatiwada said that the government has decided to take the loan on the proposal of the Ministry of Finance for the cross-country transmission and distribution system.
Announcing the decision of the Cabinet meeting held on Monday, Minister Khatiwada said, “It has also been decided to accept Rs 4 billion grant from the Norwegian government.”
(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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