BCCI elects first woman president

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Commerce: Aum Phub Zam, chairman of Yarkay Group, was elected the first woman president in the 36-year history of Bhutan Chamber of Commerce and Industry (BCCI) yesterday.

Debt servicing burden eases

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Economy: In last four years, the country has been able to ease the burden for debt repayment substantially, going by figures from the Central Bank.

India hands over Nu 7.7 billion for hydroelectric projects

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Budget: The ambassador of India to Bhutan, Jaideep Sarkar, handed over cheques worth Nu 7.7 billion to the economic affairs minister, Lekey Dorji, on April 13.

Bhutan lottery back in business

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Lottery: The Royal Bhutan Lottery Limited (RBLL) was launched in Phuentsholing yesterday.

IFC pulls out half of its shareholdings with BNBL

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BNBL goes for a Nu 955M buy back 

Shares: The Bhutan National Bank Ltd (BNBL) is buying back its own shares worth Nu 955 million (M) from the International Finance Corporation (IFC), a unit of the World Bank.

AIIB and SDF to co-finance SAARC projects

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Finance: The Asian Infrastructure Investment Bank (AIIB) will be co-financing projects and programmes in the SAARC region with the SAARC Development Fund (SDF).

Ginger price slumps

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Agriculture: Much to the disappointment of farmers who are shifting to cash crops, the price of ginger this year has dropped by half in Samdrupjongkhar.

SKW-Tashi Metals retrench 160 employees

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The FDI company has shutdown for an indefinite period

Employment: SKW-Tashi Metals and Alloys Private Limited, a Foreign Direct Investment (FDI) business in Pasakha has retrenched 160 employees recently. The FDI firm is also shut at present.

Exploring the spillover benefits

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The central bank will carry out a research to study the benefits

Hydropower: The indirect benefits of the hydropower sector are overlooked and many other economic opportunities circling the sector remain unexplored, which otherwise could enrich the country’s economic output.

Domestic revenue more than Nu 25B in 2014-15

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Fiscal incentives and growing expenditure is a concern

Economy: Expanding expenditure when aggravated by loss of revenue from various exemptions and incentives is impeding efforts to increase the collection of domestic revenue.

Marginal increase in minerals export to Bangladesh

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Trade: The country exported minerals worth USD 9.57 million (M) to Bangladesh last year, a three percent increase from the previous year.

Petrol price drops

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Fuel: The price of petrol in the country has dropped by about Nu 1.07 beginning today. This is the second drop in price in less than two weeks.

Limestone powder export to Bangladesh halted

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Export: Export of limestone powder to Bangladesh has been halted since February 7. Bangladeshi customs at the Burimari border, it is learned, has issued a Statutory Regulatory Order (SRO) that limestone powder falls under the Harmonised System (HS) code 2517.