The Bhutanese Leading the way.
The banking sector according to the Royal Monetary Authority (RMA) of Bhutan has seen a decline of 17.7% of their total assets. In the RMA’s annual report released yesterday, it stated that the commercial banks’ reserves declined from Nu15.4bn as of June 2011 to Nu 10.5bn in June 2012, representing …
Read More »His Majesty the King to be the Chief Guest for India’s 64th Republic Day
In what is a major international and regional honor for Bhutan, His Majesty the King has been invited as the Chief Guest for the 64th Republic Day of India, on 26 January 2013. His Majesty the King has accepted the invitation. The invitation by the Indian government and its acceptance …
Read More »Thimphu Tech Park turns into a White Elephant
The management is optimistic but with little or no commercial takers at all the country’s first IT Park continues to remain vacant The future of the thirteen month old Nu 285mn worth Thimphu TechPark Pvt. Ltd. (TTPL) still looks bleak as it has failed to attract big companies from …
Read More »Only 16 to 28% of rural water is safe for drinking
Only 16.8% of stream water sources and 28% of spring water sources are safe for drinking, showing that the majority of drinking water sources in rural Bhutan are a potential source of diseases if consumed directly. Water resources is visibly not a cause for concern in Bhutan with more than …
Read More »BKP and DCT formally registered on the first day of the New Year
The election commission announced that both parties though registered have to fulfill a few more obligations to take part in the 2013 race The Election Commission of Bhutan (ECB), yesterday formally announced the approval of the registration of Druk Chirwang Tshogpa (DCT) and Bhutan Kuen-Nyam Party (BKP) as political parties. This …
Read More »‘His Majesty’s address to the ACC cadre instilled in us a greater sense of purpose and courage’: Dasho Neten Zangmo
His Majesty the King graced the Foundation Day of the Anti-Corruption Commission and granted an Audience to the staff of the Commission on December 31, 2012. ACC Chairperson Dasho Neten Zangmo said, “2012 has been of the exciting years for the ACC and for the year to culminate with the …
Read More »STCBL goes into five new businesses to avoid downsizing
STCBL says that downsizing will happen if the economic environment does not improve this year The much speculated and dreaded downsizing of staff at the State Trading Corporation Limited (STCBL) will not take place for now. The company instead has decided to transfer its 26 sales staff into five new …
Read More »Profitability concerns in 114 MW Dagachu project after escalating costs
Both DGPC and NPPF stand to get reduced dividends if the project cannot negotiate a higher tariff with Tata power Bhutan’s first medium sized hydro project with a foreign private company partner is facing the possibility of reduced profitability due to a sharp increase in its construction costs. The reduced …
Read More »Actress Kezang D Wangmo to enter Politics via PDP
Politics may tend to get dirty on one occasion too many, but at least with this contender it will remain visually appealing for the electorate’s eyes. And that will be the 26 year old actress Kezang D. Wangmo of the Bhutanese film Industry, who joined the People’s Democratic Party (PDP) …
Read More »Government’s austerity measures hits the economy
The cost cutting measures adopted by all government agencies as notified by the finance ministry in the wake of the country’s Indian Rupee (INR) shortfall and liquidity crisis has had a visible impact across the country, particularly in the private sector. In the fiscal year (FY) 2012-2013 budgets, provisions for …
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