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•The Non-Resident Nepalis (NRNs) announced to establish a deluxe five-star hotel in Nepal and to bring international hotel chain in Nepal. Organizing a press meet on October 26, the newly elected President of the Non-Resident Nepali Association Shesh Ghale announced that there will be collective investment of the NRNs. “We will first carry out a feasibility study, and than we will call for the collective investment from the NRNs, giving equal priority to all of them,” Ghale said. The venue of the proposed hotel is yet to be ascertained. Ghale said many of the international hotel chains have shown interest for establishing international standard hotels in Nepal.
•The Company Registrar Office (CRO) has made the registration of new companies through online system mandatory from last week. It said it would no longer entertain files under manual system for registration purpose. The CRO, which started online registration system in February, took a step further recently by fully automating the registration system. It has enabled companies to submit documents required for registration and forward application for dissolution through the internet. Companies can also check their status online.
•Customs officials of Nepal and China have signed a 14-point agreement with a commitment to stop smuggling of gold through the Tatopani customs point and promotion of businesses that are beneficial to both countries. As Nepali traders have been using TT and draft for importing most the goods from China, the two sides have also agreed to promote the use of Letters of Credit (LC) as the principle mechanism for imports. The decision of promoting LC was taken to reduce revenue leakages. China has also agreed to support exports from Nepal by giving due recognition to Nepal’s quarantine system at the border.
•A high-level team from the European Union (EU) is visiting Nepal soon to identify the potential sectors of investment in Nepal. At a meeting with Finance Minister Shankar Prasad Koirala on October 25, Rensje Teerink, ambassador of EU to Nepal, informed about the visit and asked the Nepal government to finalize the proposed EU-funded projects at the earliest. Teerink also said that EU would focus its support on good governance and development in Nepal. On the occasion, Koirala expressed gratitude to the EU for doubling its assistance to Nepal. He also asked Teerink to increase support in the sectors that are highly prioritized by the Nepal government.
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•The Civil Aviation Authority of Nepal (CAAN) has issued type certificate to Chinese-made MA60 aircraft, allowing a China-made plane to fly in Nepali sky for the first time in the nation’s civil aviation history. Although the CAAN is yet to confirm the development, senior officials at the Ministry of Culture, Tourism and Civil Aviation said the authority informed the ministry about the issuance of the certificate on Tuesday evening. According to CAAN sources, it will soon call a press meet to inform about the development. As per the Civil Aviation Rules 2002, the Director General of the CAAN upon receiving the application shall provide aircraft type certificate to the applicant after making necessary inquiry. The issuance of the certificate has opened the doors for ailing Nepal Airlines Corporation (NAC) to procure the 58-seater turboprop planes manufactured by Xi’an Aircraft International Corporation.
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•A high-level team from the European Union (EU) is visiting Nepal soon to identify the potential sectors of investment in Nepal. At a meeting with Finance Minister Shankar Prasad Koirala on October 25, Rensje Teerink, ambassador of EU to Nepal, informed about the visit and asked the Nepal government to finalize the proposed EU-funded projects at the earliest. Teerink also said that EU would focus its support on good governance and development in Nepal. On the occasion, Koirala expressed gratitude to the EU for doubling its assistance to Nepal. He also asked Teerink to increase support in the sectors that are highly prioritized by the Nepal government.</div>
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•The Ministry of Culture, Tourism and Civil Aviation has said that it will issue a public notice next week ordering the country’s casinos to get their operating licences renewed for this fiscal year. None of the casinos have renewed their permits so far. As per the Casino Regulation 2013 endorsed by the Cabinet on July 11, casinos have less than a month to renew their operating licences. “The new regulation has set Nov 21 as the final date to renew their operating licences,” said Purna Chandra Bhattarai, Joint Secretary at the Industry Division of the ministry. “If they don’t abide by the law, we will be forced to shut them down.” There are 10 casinos in the country, eight in Kathmandu and two in Pokhara. </div>
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•The Civil Aviation Authority of Nepal (CAAN) has issued type certificate to Chinese-made MA60 aircraft, allowing a China-made plane to fly in Nepali sky for the first time in the nation’s civil aviation history. Although the CAAN is yet to confirm the development, senior officials at the Ministry of Culture, Tourism and Civil Aviation said the authority informed the ministry about the issuance of the certificate on Tuesday evening. According to CAAN sources, it will soon call a press meet to inform about the development. As per the Civil Aviation Rules 2002, the Director General of the CAAN upon receiving the application shall provide aircraft type certificate to the applicant after making necessary inquiry. The issuance of the certificate has opened the doors for ailing Nepal Airlines Corporation (NAC) to procure the 58-seater turboprop planes manufactured by Xi’an Aircraft International Corporation.</div>',
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•The Non-Resident Nepalis (NRNs) announced to establish a deluxe five-star hotel in Nepal and to bring international hotel chain in Nepal. Organizing a press meet on October 26, the newly elected President of the Non-Resident Nepali Association Shesh Ghale announced that there will be collective investment of the NRNs. “We will first carry out a feasibility study, and than we will call for the collective investment from the NRNs, giving equal priority to all of them,” Ghale said. The venue of the proposed hotel is yet to be ascertained. Ghale said many of the international hotel chains have shown interest for establishing international standard hotels in Nepal. </div>
<div>
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<div>
•The Company Registrar Office (CRO) has made the registration of new companies through online system mandatory from last week. It said it would no longer entertain files under manual system for registration purpose. The CRO, which started online registration system in February, took a step further recently by fully automating the registration system. It has enabled companies to submit documents required for registration and forward application for dissolution through the internet. Companies can also check their status online.</div>
<div>
</div>
<div>
•Customs officials of Nepal and China have signed a 14-point agreement with a commitment to stop smuggling of gold through the Tatopani customs point and promotion of businesses that are beneficial to both countries. As Nepali traders have been using TT and draft for importing most the goods from China, the two sides have also agreed to promote the use of Letters of Credit (LC) as the principle mechanism for imports. The decision of promoting LC was taken to reduce revenue leakages. China has also agreed to support exports from Nepal by giving due recognition to Nepal’s quarantine system at the border. </div>
<div>
</div>
<div>
•A high-level team from the European Union (EU) is visiting Nepal soon to identify the potential sectors of investment in Nepal. At a meeting with Finance Minister Shankar Prasad Koirala on October 25, Rensje Teerink, ambassador of EU to Nepal, informed about the visit and asked the Nepal government to finalize the proposed EU-funded projects at the earliest. Teerink also said that EU would focus its support on good governance and development in Nepal. On the occasion, Koirala expressed gratitude to the EU for doubling its assistance to Nepal. He also asked Teerink to increase support in the sectors that are highly prioritized by the Nepal government.</div>
<div>
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•The Ministry of Culture, Tourism and Civil Aviation has said that it will issue a public notice next week ordering the country’s casinos to get their operating licences renewed for this fiscal year. None of the casinos have renewed their permits so far. As per the Casino Regulation 2013 endorsed by the Cabinet on July 11, casinos have less than a month to renew their operating licences. “The new regulation has set Nov 21 as the final date to renew their operating licences,” said Purna Chandra Bhattarai, Joint Secretary at the Industry Division of the ministry. “If they don’t abide by the law, we will be forced to shut them down.” There are 10 casinos in the country, eight in Kathmandu and two in Pokhara. </div>
<div>
</div>
<div>
•The Civil Aviation Authority of Nepal (CAAN) has issued type certificate to Chinese-made MA60 aircraft, allowing a China-made plane to fly in Nepali sky for the first time in the nation’s civil aviation history. Although the CAAN is yet to confirm the development, senior officials at the Ministry of Culture, Tourism and Civil Aviation said the authority informed the ministry about the issuance of the certificate on Tuesday evening. According to CAAN sources, it will soon call a press meet to inform about the development. As per the Civil Aviation Rules 2002, the Director General of the CAAN upon receiving the application shall provide aircraft type certificate to the applicant after making necessary inquiry. The issuance of the certificate has opened the doors for ailing Nepal Airlines Corporation (NAC) to procure the 58-seater turboprop planes manufactured by Xi’an Aircraft International Corporation.</div>',
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