Category: Business

With the coronavirus pandemic causing the closure of national borders and the suspension of international travel, the government is exploring ways to boost domestic tourism. Although domestic tourism has not picked up much so far, its importance and potential has been recognized for quite some time now. In fact, domestic tourism is an important component […]

The Royal Audit Authority (RAA) recovered Nu 181.9mn of the total irregularities worth Nu 3,531.698mn in 2019, according to the Annual Audit Report 2019 released this week. However, the recovery amount is excluding the Nu 10. 356mn recovered from corporations and financial institutions that are retained in their respective Audit Recoveries Account (AAR). The recovery […]

Borrowers will get 1% interest reduction if they repay their loans fully during deferment A 100% interest waiver for another three months, from July 1 to September 30 this year will be paid by the Druk Gyalpo’s Relief Kidu from National Resilience Fund to the Financial Institutions (FIs). And from October 2020 to March 31, […]

More than 200 women home-based workers from the lowest economic strata, including nuns and prison inmates, are benefiting from the Civil Society Organizations’ (CSOs) facemask project. The task began half a month after the discovery of the first COVID-19 case in Bhutan and the team is witnessing more orders for facemasks.   The facemask that the […]

Erratic rainfall and weather have severely affected the bloom of the buckwheat and fruit trees, the main food source for the honey bee population resulting in a decline in honey production in most of the Dzongkhags. While the price of honey in the market is soaring, the exporters made deals months ago, based on lower […]

Bank of Bhutan (BoB) made a net profit after tax (PAT) of over Nu 1.25bn last year. The bank’s profit has been increasing over the year. In 2017, they made net profit of Nu 790mn and in 2018 they made profit of Nu 1.04bn. According to the annual report 2019 of BoB, there is an […]

According to startups, the international payment gateway that the Royal Monetary Authority (RMA) initiated recently is not feasible for them to use. The startups shared the use of international payment gateway had many requirements and it will be challenging for them to use it. To avail payment gateway facilities, interested merchants would require fully functional […]

Since the entry of skilled workers into the country would have huge cost implications on the contractors, the construction sector suggests that the cost should be borne 50:50 by the government and contractors, according to General Secretary, Construction Association of Bhutan (CAB), Tshering Yonten. The Department of Immigration notified that foreign workers’ entry in the […]

The labor charge incurred for the loading and unloading of construction materials in the mini-dry port in Phuentsholing has raised the transportation cost, said General Secretary, Construction Association of Bhutan (CAB), Tshering Yonten. Due to the coronavirus pandemic, the goods and materials procured from neighboring India has to come into country via mini-dry port in […]