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FIs record a net profit of Nu 802M

The five commercial banks and three non-banking financial institutions (two insurance companies and one pension entity) earned a combined net profit of Nu 802M in 2017-2018. The asset growth of financial sector has averaged 10.5 percent, increasing from Nu 107B in June 2015 to Nu 161B in June last year. …

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Fuel prices drop on New Year

The fuel prices in the country dropped from midnight yesterday. After reaching the highest point in 2018, this is the fifth consecutive drop. Since October 16 last year, when the country experienced highest petrol price at Nu 73.04 a litre and Nu 72.85 a litre for diesel, petrol price dropped to …

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Inflation remains below 3.5 percent until November 2018

The price of goods and services between November 2017 and November 2018 increased by 3.09 percent, according to the consumer price index (CPI). This was one of the highest year-on-year inflation last year. However, the annual average inflation rate in 2018 was one of the lowest inflation recorded in the …

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Electricity export earns Nu 10B

The five operational hydropower plants in the country have generated about 6.31B units of energy as of October this year, with generation peaking in August. This is according to the statistical bulletin of the Royal Monetary Authority. Of the total production, the Tala Hydropower Plant, being the largest operating hydropower …

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DPL shares oversubscribed in the rights auction

Despite suffering losses for the sixth consecutive year, the Dungsam Polymer Limited shares in the auction was over subscribed by 7,315 number of shares. The DPL issued 7,000,000 rights shares to raise Nu 70 million at the face value of Nu 10 per share at the ratio 8:7 (For every …

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Record low inflation expected this year

Should the current inflationary trend continue for the last two months of this year, 2018 would record an all-time low inflation. The consumer price index (CPI) or year-on-year inflation in October, which is the period between October last year and October this year, was recorded at 2.95 percent, the highest …

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DPL in distress, resorts to rights issue

Dungsam Polymer Limited (DPL) is encountering serious cash flow problems and an acute shortage of working capital, putting the company in a difficult situation. The DPL, which is in its sixth year of operation is yet to come out of the red. In addition to term-loan balance of Nu 113M from …

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National revenue records 24 percent growth

The fiscal year 2017-18 saw significant growth in national revenue amounting to Nu 36.87B, recording a growth of 24 percent compared to the fiscal year 2016-17. According to the provisional revenue report 2017-18, tax revenue increased to Nu 27.10B, an increase by 25 percent from 2016-17. This is attributed to …

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Rupee reserve at INR 20B

The country’s international reserve position as of August this year was at USD 1.1B, of which the rupee reserve forms Rs 20.5B. Convertible currency reserve was at USD 817M. The rupee reserve in the beginning of the year was Rs 23B, the highest in 2018. In the following month of February, it fell to Rs 17B and dipped to Rs 11B in April, which gradually picked up. This is according to the Royal Monetary Authority’s (RMA) recent monthly statistical bulletin.

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