Australia’s Commonwealth Bank agrees to US$530 mn fine over money-laundering breaches

Australia’s Commonwealth Bank agrees to US$530 mn fine over money-laundering breaches
The Commonwealth Bank Monday agreed to the largest civil penalty in Australian corporate history to settle claims it breached anti-money laundering and counter-terrorism financing laws.The Aus$700 million (US$530 million) fine -- which is subject to court approval -- comes after mediation between the nation's biggest lender and the country's financ...

RBB sets up branch office in rural municipality

RBB sets up branch office in rural municipality
The Rastriya Banijya Bank (RBB) has established a branch office at Arjunchaupari rural municipality in Syangja.The bank established in 1982 shifted to the Syangja's district headquarters in 1999 due to dispute. Communications and Information Technology Secretary, Mahendra Man Gurung, on Saturday inaugurated the bank's 190th branch office. On the...

Nepse index increases 39.16 points

Nepse index increases 39.16 points
Kathmandu / The Nepal Stock Exchange index on Tuesday rose by 39.16 points. The sensitive index that measures performance of Group 'A' companies also went up by 8.09 points to close at 257.74 points. Approximately 1.51 million shares of 116 companies were traded at Rs 506.1 million. Trade group witnessed a dip, while other companies climbed. Tra...

Apple’s iPhone X hits Asia stores as profits soar

Apple’s iPhone X hits Asia stores as profits soar
HONG KONG, Nov. 3 - Apple's flagship iPhone X hit stores in Asia Friday, as the world's most valuable company predicted bumper sales despite the handset's eye-watering price tag and celebrated a surge in profits. The device features facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-e...

Japan to provide Rs 280 million for SSDP

Japan to provide Rs 280 million for SSDP
Kathmandu: The Government of Japan has agreed to provide a grant assistance of Rs. 280 million to the School Sector Development Program (SSDP) of Nepal. The Exchange of Notes to this effect was signed and exchanged between the Government of Nepal and the Government of Japan at the Ministry of Finance here on Tuesday. The SSDP is a continuation of ...

Ministry preparing to begin flights to Australia, Cambodia

Ministry preparing to begin flights to Australia, Cambodia
Kathmandu: The Ministry of Culture, Tourism and Civil Aviation is doing homework to begin air services with Australia and Cambodia. Joint Secretary at the Ministry, Buddhi Sagar Lamichhane, said that talks were going on with the representatives of both the countries to sign agreements for direct flights there. So far, Nepal has signed air service ...

World Bank to provide Rs 19 billion in loan assistance

World Bank to provide Rs 19 billion in loan assistance
Kathmandu: The World Bank (WB) has agreed to provide Nepal government with Rs 19 billion loan assistance for increasing the quality of education. An agreement to this effect was signed by and exchanged between Secretary of Finance Ministry Shanta Raj Subedi and World Bank Nepal Country Manager Takuya Kamata amid a function at the ministry today. T...

Budget vows to utilise remittance

Budget vows to utilise remittance
Kathmandu: Foreign employment aspirants should compulsorily have a bank account before leaving for abroad. The government introduced this provision in the budget for the upcoming fiscal year 2017-18. Presenting the budget, Finance Minister Krishna Bahadur Mahara said migrant workers would use the same bank account they opened before going for fore...

Target of 7.2 per cent economic growth rate

Target of 7.2 per cent economic growth rate
Kathmandu: The government has set the target of 7.2 per cent of economic growth rate in the upcoming fiscal year. Releasing the annual budget for the fiscal year 2017/018, Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara said the country shall witness rapid economic development following massive progress in economic mobilizati...

New budget to be historic, Governor Dr Nepal says

New budget to be historic, Governor Dr Nepal says
Kathmandu, May 8: The Governor of Nepal Rastra Bank (NRB) Dr Chiranjivi Nepal has claimed that the budget for the fiscal year 2074/075 BS would be historic. At a pre-budget discussion programme organized here by the central bank Monday, the Governor said that the new budget would be brought in a new paradigm with the implementation of the federalis...