The reserve position as reported in the Budget Report for FY 2023-24 stands at USD 689 million  (mn) adequate to cover for 14 months of essential imports. Gross international reserves at the end of FY 2021-22 stood at USD 833 mn, sufficient to cover 15 months of essential imports. However, …

Shareholders have not collected their shares paid by 16 listed scripts with the Royal Securities Exchange of Bhutan (RSEBL). Unclaimed dividend is the dividend that is paid by the companies to its shareholders but the shareholder has not yet taken or claimed it. Druk PNB Bank Limited has accumulated Nu …

The budget for fiscal year 2023-2024, presented by the Finance Minister in the National Assembly, is aimed at building stronger institutions through strategic reforms while ensuring a sustainable fiscal path and smooth transition. This planned budget will be the first budget that aims to bridge the Gross Domestic Product (GDP) …

The Royal Monetary Authority (RMA) has imposed a temporary moratorium on New Housing and Hotel Construction loans in lieu of the dwindling foreign currency reserves and Non-Performing Loans (NPL).  The Central Bank during its 202nd Board of Directors meeting held on 6 June 2023 approved the imposition of a moratorium. …

Civil servants are not the only professionals leaving as Financial Institutions (FI) are also suffering a high attrition rate. Until February 2023 7 FIs namely Bank of Bhutan (BoB), Bhutan National Bank (BNB), Druk PNB, T-Bank, Bhutan Development Bank Limited (BDBL), National Pension and Provident Fund (NPPF), Royal Insurance Corporation …

Not long ago it would have been unthinkable in Thimphu for prime commercial spaces to go unoccupied., but this is what is happening in Thimphu these days even as rents are reduced or other offers are made. Currently, the real estate trend has shifted to more sellers than buyers. There …

Trade and commerce in the border towns of Phuentsholing, Gelephu and Samdrup Jongkhar, are down. The people that run businesses in these areas, share there are numerous factors that are killing their business, such as the reopening of borders with India, taxes and lack of population. The Chair of Members …

The Bhutan Chamber for Commerce and Industry (BCCI) held its monthly meeting with the Prime Minister on 26th May where the PM met with the representatives of the private sector. He promised to look into the grievances raised giving his word to look into the loan deferment issues and non-performing …

Last Friday, on 19th May the Reserve Bank of India (RBI) notified the public that it will be withdrawing its INR 2000 notes from circulation as the notes have reached its estimated life span even though it remains as a legal tender. The RBI stated that it will be accepting …

Bhutan and Singapore signed a Memorandum of Understanding (MoU) on carbon collaboration on 18 May. The MoU signing was held online between Lyonpo Loknath Sharma, Ministry of Energy and Natural Resources and his Singaporean counterpart, Mr Gan Kim Yong, Ministry of Trade and Industry. Lyonpo Loknath, during his address on …