LOCAL NEWS

ESP allocates Nu 844 mn to hotels for the 4 percent subsidy

The Government is set to spend approximately Nu. 844 million to provide a one-year 4% interest subsidy under the Economic Stimulus Programme (ESP) for the hotel sector. Tashi Wangmo, Secretary of the Ministry of Industry, Commerce and Employment (MoICE), said the Ministry is working closely with the Royal Monetary Authority …

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Tourism recovery continues but remains uneven

Service sectors continue to perform strongly, but overall growth is expected to moderate to 5.82 percent, down from the earlier projection of 6.21 percent for 2025, according to the macroeconomic outlook from the Ministry of Finance (MoF). The downward revision is mainly due to the hotels and restaurants subsector, which …

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BoB Goes Live with new TCS BaNCS Global Banking Platform

Bank of Bhutan announced the successful go-live of its new TCS BaNCS Global Banking Platform (GBP). The GBP replaces legacy systems with modern, robust core architecture designed to meet the evolving needs of customers, regulators, and the competitive financial services landscape. Some of the key new features and benefits of …

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Slope stabilization risks loom over P I Dam construction

According to the Ministry of Energy and Natural Resources, the right bank slope stabilization remains a critical factor that could affect both the timeline and cost of the P I Project, as specialized engineering works pose significant challenges. Measures such as reinforced cement concrete (RCC) piles and high-capacity cable anchors …

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Importers caught off guard by excise permit charges

Importers have expressed confusion over the excise tax regime, particularly regarding the requirement for import permits and the permit fees levied on excisable goods at the point of entry. Phuntsho, an importer sourcing goods from Bangkok, said she was taken aback by the additional charges imposed during the import process. …

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Bhutan Stroke Foundation to assess NCD risk in monasteries nationwide

The Bhutan Stroke Foundation (BSF) is planning to conduct a nationwide stroke risk assessment across monasteries and religious institutions in the country, marking one of the first large-scale efforts to assess stroke vulnerability within Bhutan’s monastic community. The foundation’s Executive Director Rinchen Khandu said, “The initiative will be implemented with …

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