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Government introduces Bill Discounting Facility to expedite contractor payments

Government introduces Bill Discounting Facility to expedite contractor payments

Contractors working on government projects can expect to receive their payments on time. The financial institutions introduced a new service, the Bill Discounting Facility today. This service is designed to expedite payments to contractors who usually experience delays in receiving payment upon completion of their work due to prolonged processes. However, with this facility, contractors will be able to present...

GMC to include Bitcoin and other digital assets in strategic reserves

GMC to include Bitcoin and other digital assets in strategic reserves

Gelephu Mindfulness City, GMC, has announced plans to adopt digital assets such as Bitcoin, Ethereum, and Binance Coin in its strategic reserves. According to a GMC social media post, the move makes the Special Administrative Region one of the first jurisdictions globally to officially hold digital assets as reserves. Strategic reserves refer to assets or resources set aside to ensure...

Bhutan’s disaster preparedness remains inadequate – World Bank’s “Crisis Preparedness Gap Analysis”

Bhutan’s disaster preparedness remains inadequate – World Bank’s “Crisis Preparedness Gap Analysis”

With the country facing increasing natural disasters driven by climate change, Bhutan’s disaster preparedness remains inadequate. This is according to the World Bank’s recent "Crisis Preparedness Gap Analysis" policy brief. This year alone, Bhutan has already experienced around five reported forest fire cases and an earthquake, highlighting the natural hazards the country is vulnerable to. According to the document, the...

The Supreme Court has delivered judgments for 14 out of 15 civil and commercial appeal cases involving Phajo Nidup.

The Supreme Court has delivered judgments for 14 out of 15 civil and commercial appeal cases involving Phajo Nidup.

The Supreme Court has delivered judgments for 14 out of 15 civil and commercial appeal cases involving Phajo Nidup. The court has fully affirmed seven High Court judgments where Phajo has to restitute over Nu 189 M to various parties including banks. Six cases were withdrawn by appellants and one case concerning BoB was partially reversed, leaving only one case...

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