Nepal waives several charges for int’l airlines

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Kathmandu, May 24 | Nepal has decided to waive several charges for one year for international airlines conducting flights to the country’s newly-opened Gautam Buddha International Airport.

The decision by the Civil Aviation Authority of Nepal (CAAN) on a 100 per cent waiver of charges, including for landing, parking, communication, navigation aid and security check, will be effective from May 28.

“We granted a waiver of fees as part of marketing of the new international airport to woo international airlines to operate their flights in this new airport,” CAAN spokesman Deo Chandra Lal Karn told Xinhua news agency on Tuesday.

“By operating international flights, an international airline can get a waiver of fees of around $2,000 per flight,” he added.

On May 16, Kuwait-based Jazeera Airways became the first foreign airline to land at the Gautam Buddha International Airport, the second of its kind in Nepal situated in the southwestern city of Bhairahawa.

“It is conducting three flights a week in the new airport,” said Karn.

“Many other international airlines have also notified us that they are assessing whether to conduct flights in the new airport.”

The new airport, about 280 km from the capital of Kathmandu, is expected to be the main gateway to Lord Buddha’s birthplace in Lumbini nearby.

It is also intended to serve as an alternative and backup to the overcrowded Tribhuvan International Airport in Kathmandu.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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