Prime Life Insurance is organising a `Ramailo Mela' at Pokhara's Naya Bazaar from September 9 to 12. The festival will be inaugurated by actor Rajesh Hamal. Entertainment and musical events will have also been scheduled.
Source:
tht
::: Latest Buzz on Nepalsharemarket
Saturday, September 11, 2010
Prime Life Insurance's mela
Sagarmatha Merchant Banking branch
Sagarmatha Merchant Banking and Finance Ltd has opened its second branch at Sunsari district's Dharan on Wednesday. The finance company provides ABBS service, AMS banking, ATM and remittance services. The finance company has plans of opening more branches at Biratnagar, Damak and Itahari.
Source:
tht
Kist starts talks programme
"Success cannot be attained in one go, everyone needs to work hard with an optimistic attitude and have a strong determination to acquire the goals they set for themselves," said Ambica Shrestha, president of Dwarika's Hotels and Resorts during a talk programme organised by Kist Bank here today. The first Kist talk programme also honoured Shrestha for her contribution to economic development as well as conservation of Nepali and Newari heritage.
Starting from today, Kist Bank will be having these talk programs once every month for this fiscal year for young entrepreneurs. Kist talk is an initiative taken by Kist Bank as an attempt to bring excellence in the skills and dexterity of young and amateur entrepreneurs. "We will be organising such programmes every month and are looking for it to be a stepping stone towards further innovative ideas towards enriching the new generation of entrepreneurs," said Kamal Prasad Gyawali, managing director of KIST Bank.
KIST talk aims to be an opportunity to bring theoretical knowledge into the practical exercise by which significant personalities would be addressing audiences with their knowledge and sharing experiences that they have encountered on their path towards business success.
Source:
tht
Seventh anniversary: Annapurna Bikas Bank
Annapurna Bikas Bank Ltd has entered into its seventh year of its operation. The bank is planning to open 10 more development banks in the current fiscal year. The bank provides the services such as ABBS, evening counter, 365 days banking, free good for payment, cheque clearance and so on. The bank has been able to collect deposit worth Rs 849.9 million and floated loans worth Rs 1.16 billion, while the bank has earned Rs 74 million as operation profit.
Source:
tht
New brokers' test results on Wednesday
Nepse will publish the final list of the eligible contenders of the new share brokers' license test on Wednesday. The last date of re-applying was on August 31, the next ten days Nepse had set aside to reevaluate the applications and whether they still meet the criterion. After the end of the deadline for application, only 162 of the original 316 applicants had reapplied for the exam. "So far, there is no sign of any possible hassles regarding the matter, so hopefully, the exam will take place as per schedule," said Nepse General Manager Shanker Man Singh.
"We are tabulating the information regarding the applicants examining whether they are still eligible or not," he added. After two and half year long hiatus, this time Nepse is moving cautiously with the whole process. Thus, the test for remaining 25 marks will also be automatic with instant result, in order to avoid any pressure or manipulations. Nepse had published the notice regarding resumption of the share broker's selection process on August 10 after two and a half years. The notice also asked the applicants to restate their eligibility in writing. When the process was halted in February 2008, Nepse had already selected 316 applicants from the total of 336 applicants that had to go through test of 25 marks. But Commission for Investigation of Abuse of Authority (CIAA) halted the process questioning the transparency in the appointment process just the day before the test was going to take place.
Source:
tht
Green Invest launches investment service
Investment banking and business advisory service is set to make massive headway in Nepal. Green Invest Limited (GIL), a newly-formed financial services firm, on Sunday announced the launch of its investment banking and business advisory service. Promoted by leading business houses, GIL has an authorized capital of Rs. 350 million. Among GIL's 32 shareholders are Nimbus Group, Golchha Group, Wlink, ICTC, Smart Choice Technologies and others. GIL has a seven-member board with Jagadish Prasad Agrawal as chairman. The other members of the board are Dileep Agrawal, Hemant Golchha, Ravi Chandra Singh, Suresh Lal Shrestha, Kailash Chandra Goyal and Gun Chandra Bista.
According to its promoters, GIL has been formed with the objective of providing a range of financial services in the market. Initially, it will start services in project financing, merger and acquisition, corporate restructuring, business advisory services and facilitating strategic tie-ups. GIL will also seek to facilitate investment in Nepal by Indian and other international investors. "Despite having a comparatively better FDI regulation, Nepal hasn't been able to sell it," said GIL chairman Agrawal. "The company will work for investment promotion."
With this in mind, it is planning to come up with an equity fund of Rs. 5 billion through foreign direct investment. Setting up mutual fund, getting into housing and consumer finance and pension fund are among GIL's future plans. GIL has technical collaboration with Ernst & Young for this venture. "We bring the advantage of our established global experience and understanding of business trends," said Sunil Chandiramani of Ernst & Young India. GIL will venture into other financial services over a period of 12-24 months, said its promoters. "There will be a few investment opportunities in the offing," said one promoter. Agrawal said that GIL has plans to go public. Once it goes public, its authorized capital will be increased to Rs. 500 million, according to one promoter.
Source:
ekantipur
SBI Bank suspends accounts of 400
Nepal SBI Bank, Biratnagar has suspended the accounts of more than 400 customers found to be involved in withdrawing Indian currency (IC) in India with Nepali ATM cards. They were found making the withdrawals in the Indian towns of Farbisgunj and Jogbani on the same day they deposited Nepali rupees in banks in Nepal. "We have suspended the accounts of those found misusing the ATMs and forwarded a list of the accounts facing suspension to Nepal Rastra Bank," said Ameet Koirala, manager of SBI Bank, Biratnagar. The trend of using Nepali ATM cards for withdrawing Indian currency from Indian banks is increasing amid the deepening shortage of Indian currency in the Nepali market.
However, SBI Bank has not disclosed the names of the customers involved. An official at Nepal Rastra Bank (NRB) Biratnagar Office said most of account holders involved in misusing the ATMs are money changers. "We have also instructed other banks to suspend the accounts of such customers," the official added. The central bank has demanded details of customers who withdraw at least 25,000 rupees in Indian currency at a time and 200,000 per month. NRB had given permission to 19 local money changers to exchange a maximum of 2,000 rupees Indian per person. In addition, NRB has been making available 5,000 to 30,000 Indian rupees for those going to India for medical treatment. Nepali customers are estimated to have been withdrawing at least 10 million Indian rupees per day from Farbisgunj, using the Nepali Visa Debit Card.
Source:
myrepublica
IME opens 20th branch
IME Financial Institution inaugurated its 20th branch at Chapagaun in Lalitpur on Tuesday. Chairperson of the institution, Hemraj Dhakal, and Lalitpur CDO Ratna Rajya Pandey jointly inaugurated the branch on the occasion of its sixth anniversary. Issuing a press statement, the institution said it was providing banking services 365 days a year and also providing free debit card to its customers. The institution had earned Rs 914 million as net profit in fiscal year 2009/10.
Source:
myrepublica
Announcements Published In Newspapers
Special GM: WMBF
World Merchant Bank & Finance Ltd has announced its special General Meeting to be held on 25 Sep 2010 (2067 Ashwin 9).
Right Share Allotment: SRBL
Sunrise Bank Ltd. has allotted its right shares.
Dividend Distribution: SHL
Soaltee Hotel Ltd has issued notice for the collection of uncollected dividend
Right Share on Auction: SBBLJ
Sahayogi Bikas Bank Ltd is selling right share in auction. These are the unsubscribed share after right issue.
Royal Merchant Bank and Finance Ltd. has announced its book closing date for 1:1 right share on 19 Sep 2010 (2067 Ashwin 3).
Nepal Stock Exchange has issued notice regarding the license of Brokers. More Details
Karnali Development Bank Ltd is distributing share slip and returning the money to the non-allotted applicants from 10 September, 2010 (2067 Bhadra 25). More Details
Business Development Bank Ltd has announced its upcoming 7th annual general meeting to be held on 1 October 2010 (2067 Ashwin 15) and also published the meeting minute of meeting number 132.
Nepal Rastra Bank is issuing 28 days Treasury bill, 91 days Treasury bill, 182 days T-bill and 364 day T-bill on 14 September 2010. The bid quotation are to be submitted by 13 September, 2010 (2067 Bhadra 29).
Sahayogi Bikas Bank Ltd. is distributing right share certificate from 8 September 2010 (2067 Bhadra 23).
Wednesday, June 9, 2010
Mahalaxmi Finance Ltd in Sukedhara
| Mahalaxmi Finance Ltd (MFL) has started its sixth branch at Kathmandu's Sukedhara. The company ¿ established in Birgunj fifteen years ago ¿ has been able to collect deposits worth Rs 1.58 billion and floated the loans worth Rs 1.45 billion within the first ten months of the current fiscal year. It has been able to reduce its non-performing loans to 1.03 per cent within the third quarter of the fiscal year. The company provides any branch banking facility and will start SMS banking, ATM and other modern banking services. |
| Source: tht |
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