Page last updated at 2014-11-27 22:24:35 RSS
  BUSINESS & ECONOMY
Banking Sector Faces Ethical Question As Ex-regulators Rush To Join Private Banks
SAGAR GHIMIRE
KATHMANDU, Nov 28: Senior Nepal Rastra Bank (NRB) officials joining private banks following their retirement from the central bank is slowly become a trend in the country´s financial system. Though there is no legal provision that bars former central bank employees from accepting job offers from licensed banks and financial institutions (BFIs), which they used to supervise or regulate, experts believe it as an ethical deviation of individuals rather than a legal offense.

As NRB do not keep tabs on what its officials are doing following their retirement, it is difficult to find out how many former NRB employees are currently working with BFIs. But a snap survey conducted by Republica shows that over two dozen BFIs have retained former NRB officials in senior executive posts. Many former officials of NRB have secured lucrative posts in the boardroom of the BFIs, giving policy direction to their respective companies.
Products From SAARC Countries To Be Exhibited In Chitwan
CHANDNI HAMAL
CHITWAN, Nov 28: The tenth edition of Chitwan Festival will showcase products from South Asian Association for Regional Cooperation (SAARC) countries.
According to Chitwan Chamber of Commerce and Industry (CCCI), the organizer of the event, the expo will have an international pavilion displaying products from SAARC countries.

Kalyan Joshi, coordinator of the festival, said preparations for the event, which is being organized from January 9 to 18, have already begun. "Products from SAARC countries will be the special attraction of the expo," he added.
Chhaimale Resort Gaining In Popularity
REPUBLICA
KATHMANDU, Nov 28:Chhaimale Resort, which opened for business from October last year, is becoming popular among Nepalis as well as Indian tourists. Visitors are choosing the resort for night stay as well as picnics.

The resort, which is just 30 km away from Kathmandu, is spread over 29 ropanis in Chhaimale VDC of Kathmandu. The promoters have already spent around Rs 80 million in the resort. They have also renovated an old house in the resort premises and built cosy rooms there.
Force Motors Opens Showroom In Pokhara
REPUBLICA
POKHARA, Nov 28: Aayam International, the authorized distributor for light commercial vehicles of Force Motors India, has opened a showroom for Force vehicles in Pokhara.

This is the company´s second showroom in the country. The company had opened its first showroom in Gairidhara, Kathmandu couple of months ago.
Dhurba Bahadur Thapa, president of Aayam International, inaugurated the showroom.
Energy Deal Opens Power Trading At Regional Level
RUDRA PANGENI
KATHMANDU, Nov 28: SAARC foreign ministers on Thursday signed the SAARC Framework Agreement on Energy Cooperation (Electricity) which paves the way for trade of energy at the regional level like other commodities. This is the only agreement signed at the 18th SAARC Summit 2014 that concluded in Kathmandu on Thursday.

Energy expert and former secretary Surya Nath Upadhyaya said that Nepal succeeded to convince India for Power Trade Agreement (PTA). "Now the agreement has been extended at the regional level," he said.
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