A China-built airport in Nepal ’s second-largest town is set for its first scheduled international flight, two years after its inauguration raised hopes of attracting more carriers to fly directly to Pokhara. Himalaya Airlines will launch a weekly flight from Pokhara International Airport to Lhasa on March 31, marking a significant milestone for the airport. In a statement on Monday, the airline said the flight would improve connectivity between the countries and attract more Chinese tourists to Nepal. Tourism entrepreneurs in Pokhara, desperate for a commercial international flight from the new airport, welcomed the announcement and called it “long overdue”, but raised concerns about the route’s sustainability. “We’re excited but cautiously optimistic,” said Chet Bahadur Karki, general secretary of the Nepal Association of Tour and Travel Agents of Gandaki province.
Category Archives: BUSINESS-FINANCE
Mar
CK Hutchison Holdings’ decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move, analysts and sources have said, as they urged Hong Kong’s other major companies to also prepare for unparalleled uncertainties. The company founded by Hong Kong tycoon Li Ka-shing caught markets off guard when it announced late on Tuesday it was selling 80 per cent of Hutchison Port Group, a subsidiary that owns 43 container ports in 23 countries, including a 90 per cent stake in the Balboa and Cristobal docks at either end of the Panama Canal. Hutchison will retain control of its docks in China, including in Hong Kong. In a congressional address, US President Donald
Mar
Volkswagen had a tough go of things last year. The company’s sales fell by 10 percent in China, arguably its most important. Its other stronghold, Europe, was flat, with a shrinking overall car market that led to VW Group sales falling by 0.1%. This strained the company’s finances, eventually forcing the company to shed 35,000 jobs over the forthcoming years. The bright spot in all of this was the company’s performance in the Americas. South American sales grew 15%, while North American sales grew 6%, underlined by incredible 15.2% growth for the VW brand in the U.S. After decades of trying to crack the U.S., amid brutal competition elsewhere, things were looking up for Volkswagen. Now, tariffs may blow all of that away. The VW plant in Puebla, Mexico. Photo by: Volkswagen
Mar
Malaysia is set to invest US$250 million over 10 years to acquire intellectual property from UK semiconductor design firm Arm Holdings, whose technology powers nearly all of the world’s smartphones, as the country aims to go beyond chip assembly and up the value chain. The global semiconductor sector, which is projected to be worth US$1 trillion by 2030, is being shaped by the tech rivalry between the US and China, as the two powers seek dominance in advanced chips at the core of everything from smartphones to supercomputers. Malaysian Prime Minister Anwar Ibrahim is set to sign the deal with Arm CEO Rene Haas on Wednesday, in a break from the company’s past practices, which usually partners with global tech giants. Malaysia would invest directly in Arm’s IP to make
Mar
Peter Hoskins Business reporter, BBC News US Commerce Secretary Howard Lutnick has said President Donald Trump will “probably” announce a deal to reduce tariffs on Canada and Mexico on Wednesday. “Both the Canadians and Mexicans were on the phone with me all day today trying to show that they’ll do better” on reducing the flow of fentanyl into the US, Lutnick said in an interview with Fox Business Network. But Canada’s Minister of Foreign Affairs Mélanie Joly told the BBC’s Newsnight that her office had not been contacted about the plan. Canada and Mexico announced retaliatory import levies on the US after Washington’s 25% tariffs on its two neighbours came into effect on Tuesday. Lutnick made clear that he expected the US tariffs to be lowered rather than paused. “I
Mar
Under its three-year plan, iMara 3.0, I&M Bank hopes to increase its nationwide presence to 100 outlets by the end of the next year The bank noted that the current expansion drive, which will increase the number of branches to 61, focuses on important economic areas nationwide The lender has been growing its retail appeal by permanently removing fees on transactions from the bank to mobile money wallets like M-Pesa and Airtel Money TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends. I&M Bank Kenya intends to open nine additional branches this quarter as part of its efforts to expand its retail banking operations. I&M Bank CEO Gul Khan during the opening of
Mar
Response One Ghana Limited, a leading provider of electronic security and emergency response services, is proud to announce the launch of its Alarm Intervention Team, a high-tech, rapid-response unit designed to react swiftly to alarm activations, deter crime, and provide crucial support to law enforcement. This state-of-the-art intervention unit will work closely with the Ghana Police Service, enhancing public safety by reducing response times and reinforcing national crime prevention efforts. The launch of this team represents a significant advancement in security operations in Ghana, integrating cutting-edge technology, real-time monitoring, and direct law enforcement collaboration to create a safer environment for homes, businesses, and communities. Advanced Technology for Real-Time Security Response The Alarm Intervention Team is equipped with the latest security and communication technologies to ensure seamless operations and swift, evidence-backed
Feb
Japanese transport operators are expanding luggage delivery services, including between train stations and airports, to address luggage congestion as the country continues to face overtourism in major cities. In January, the airport and rail operators in Nagoya ran a luggage delivery trial for tourists on certain flights, according to Japan News, the English edition of the Yomiuri Shimbun newspaper. Under the trial, tourists would drop off their luggage at the Meitetsu Nagoya railway station. Staff would measure and check the luggage before they were sent to the airport in Nagoya. Tourists on direct flights to Hong Kong or those transiting via Taipei could then travel around Nagoya without bringing along their luggage and receive them upon returning to their home airports, according to Japan News. The delivery fee under the
Feb
Ghana’s economic growth remains heavily dependent on the mining and oil sectors, raising concerns about the country’s slow structural transformation and limited job creation, experts have said. Speaking at the launch of the Productivity, Employment and Growth Report in Accra on February 24, 2025, Government Statistician Prof. Samuel Kobina Annim stressed the need for Ghana to rethink how labour and capital are combined across all sectors. He noted that while productivity has improved over the past three decades, much of the growth has been driven by extractive industries, which contribute significantly to GDP but create few jobs. “The data shows that while productivity has increased, much of this progress is confined to the mining sector, which does not generate enough employment opportunities,” he said. “If Ghana wants to double its
Feb
£3,000 rents cause housing fears near nuclear plant George King BBC News, Suffolk Reporting from Leiston, Suffolk Zoie O’Brien/BBC Linda Druce from Druce Estate & Letting Agents said Sizewell C was a reason for rent increasing in Leiston Residents fear being priced out of a Suffolk town due to the construction of a nuclear power plant, with the rent on some family homes doubling to more than £3,000 a month. The development of Sizewell C – which is under way and predicted to conclude by 2031 – will require a workforce of 7,900 people, with about two thirds moving from outside the area. Some people in Leiston, which is about three miles (5km) from the power station, have spoken out about the rise in rents, with one saying “landlords are
Feb
Aww, Roomies! Congratulations are in order for rapper Yung Bleu and his wife, Tiemeria — they have confirmed they’re expecting a baby boy! RELATED: Yung Bleu Publicly Apologizes To His Wife Following Online Relationship Drama, Later Deletes His Statement Yung Bleu & His Wife Tiemeria Confirm They’re Expecting Their Fourth Child Yung Bleu announced the big news right before Valentine’s Day, going all out with heart balloons, luxe gifts, and a decked-out spot full of blue balloons that spelled out “IT’S A BOY.” Bleu gave his fans a sneak peek at his sweet, romantic setup with a carousel of videos on Instagram. He even dropped a caption saying, “Can’t help who you love 🤷 Happy Vday big mama lol !” Tiemeria was all smiles, soaking it up as she unwrapped
Feb
NAIROBI, Kenya, Feb 14 – Four suspects linked to the ongoing investigations into financial mismanagement at the Kenya Union of Savings and Credit Co-operatives (KUSCCO), where billions of shillings were embezzled, will remain in custody pending the determination of their bail terms on February 18. The Directorate of Criminal Investigations (DCI) identified the four suspects as George Magutu Mwangi, Mercy Muthoni Njeru, George Ochola Owino, and Jackline Pauline Atieno Omolo. According to the DCI, the suspects, arraigned at the Milimani Law Courts, are facing multiple charges, including conspiracy to defraud, contrary to Section 317 of the Penal Code, and stealing by directors or officers of companies, contrary to Section 282 of the Penal Code. They are also accused of making a false document, contrary to Section 347(a), as read with
Feb
Nigerian fintech Raenest has raised $11M in Series A funding to expand its reach across Africa. Led by QED Investors, the funding round also got participation from pan-African VC firms Norrsken22, Ventures Platform, P1 Ventures, and Seedstars. The fintech startup will look to deepen its presence in Nigeria and secure licenses in Egypt, Ghana, Kenya, and the U.S. What is Raenest As Africa’s tech ecosystem continues to blossom, more people from the region are landing remote jobs with big tech firms and global startups. However, receiving payments remains an obstacle for many freelancers and remote workers. They struggle to open accounts that accept U.S. dollars, face slow invoicing and payment processes, and it doesn’t help when their foreign employers use incompatible payment platforms. Related Post: Nigerian B2B Payment Startup, Klasha
Feb
Many Hong Kong residents are heading to jewellery shops to sell – or buy – gold after the precious metal hit a record-high price this week. Gold has surged more than 10 per cent on the global market this year, reaching a record US$2,942.70 per ounce (28.3 grams) on Tuesday. That is on top of a 26 per cent increase last year – the biggest annual gain in 14 years. The price in Hong Kong has risen in tandem, hitting HK$27,040 per tael (US$3,466 for 37.9 grams) on Tuesday, which is 35 per cent higher than at the beginning of last year. The rise is benefiting jewellery shops. Fook Tai Jewellery Group, which has seven retail shops in Hong Kong, is among those seeing a rush of customers. Most want
Feb
Javier Milei waves a chainsaw during a campaign rally in San Martin, Buenos Aires province, Argentina in September 2023. Photo: LUIS ROBAYO / AFPSource: AFP Argentina recorded a monthly inflation rate of 2.2 percent in January, the lowest in 4.5 years, the INDEC national statistics agency said Thursday, in a boost for budget-slashing President Javier Milei. Inflation, the perennial bugbear of South America’s second-biggest economy, was down from 2.7 percent in December, it said, and January was the fourth straight month in which prices rose by less than 3 percent. Year-on-year, January inflation came in at 84.5 percent, said the INDEC — the first time in two years it was under 100 percent, but still one of the highest in the world. By the end of 2024 inflation was at