English | Dzongkha Friday, July 3, 2015

Loans may become cheaper

Loans may become cheaper-

The minimum-lending rate, called the base rate for most financial institutions, has decreased this year, compared to last. Base rate is the minimum lending rate below which banks are not permitted to lend.

Inflation at its lowest

Overall Inflation-

Bhutan’s consumer inflation fell to its lowest since last year beginning reaching 5.6 percent in April this year. In the previous month it was recorded at 6.2 percent. Food prices slowed down to 3.8 percent in April from 4.7 percent and non-food prices slowed to 6.9 percent from 7.2 percent in the same months.

Dungsam Polymers makes its first profit

Dungsam Polymers makes its first profit-

After running into loss to the tune of Nu 28M last year, Dungsam polymers made its first profit at Nu 3.8M in the first quarter this year. The profit was attributed to several cost-cutting measures and marginal increase in terms of sale of cement bags to Dungsam cement.

STCB to export boulders and vegetables

STCB to export boulders and vegetables--

The State Trading Corporation of Bhutan Limited (STCBL) is exploring the possibility of large-scale export of vegetables and boulders to India and Bangladesh. This follows after the government hinted on taking away its explosive business, which is its second largest revenue-earning portfolio.

Green tax, detrimental to economy: BCCI

SalesTax-

The Bhutan Chamber of Commerce and Industry (BCCI) has submitted a paper to the government studying and recommending impacts, of the five percent fuel tax, on the country’s economy.

Cottage and small industries sees impressive growth

Cottage and small industries sees impressive growth-

Cottage and small industries saw an impressive growth of 21 percent, last year. Cottage and small industries now make up 96 percent of the country’s total industries.

Electric vehicles still not picking up popularity

Electric vehicles still not picking up popularity-

Not many Bhutanese are keen to purchase electric vehicles despite zero tax imposed. Since its introduction last February, only 45 electric vehicles have been imported as against 6,000 fuel based vehicles imported in the same period of time.

Dungsam Polymers suffers a loss of Nu 28M

Dungsam Polymers suffers a loss of Nu 28M-

The Dungsam Polymers Limited, a subsidiary of Druk Holding and Investments that manufacture cement bags recorded a loss of Nu 28 M last year according to their latest financial statement. It also made a loss of Nu 24 M in 2013.

DCCL to float another bond

Dungsam to float another bond-

The Dungsam Cement Corporation Limited (DCCL) will float another bond anytime soon to meet its debt obligation according to Druk Holding and Investments (DHI), its parent company.

ABI and BCCI seek government’s intervention to salvage industries

ABI and BCCI seek government’s intervention to salvage industries-

The Association of Bhutanese Industries (ABI) and the Bhutan Chamber of Commerce and Industry (BCCI) are looking for an intervention from the government to prevent industries from crashing headlong into a recession.

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