Category: Finance

Kathmandu: The House of Representatives meeting scheduled for Wednesday was adjourned until Thursday following continuous obstruction by opposition lawmakers protesting the government’s decision to dismiss former Nepal Electricity Authority (NEA) Managing Director Kulman Ghising. The session, set to commence at 11:00 AM, was initially delayed by half an hour due to disruptions but was ultimately… Continue reading Parliament session adjourned amid opposition protest over Kulman Ghising’s dismissal

Kathmandu: Nepal’s trade deficit has surged to Rs 987.39 billion in the last eight months of the current fiscal year, despite a 57.2% increase in exports. Total foreign trade reached Rs 1.3 trillion, with imports rising by 11.2% compared to the previous year. Petroleum imports remain a major contributor, with Rs 78.86 billion spent on… Continue reading Nepal’s trade deficit reaches Rs 987.39 billion despite export growth

Kathmandu: The government has dismissed Kulman Ghising as the Managing Director of Nepal Electricity Authority (NEA), citing ten reasons, including insubordination, failure to implement board decisions, and unauthorized foreign trips. A three-page letter from the Ministry of Energy states that Ghising publicly criticized the government, fostered internal factionalism, and failed to collect overdue payments from… Continue reading Kulman Ghising dismissed as NEA MD, cites political motives

Kathmandu: The ‘Nepal-Myanmar Trade and Tourism Expo 2025’ has concluded in Yangon, aiming to strengthen bilateral ties and promote Buddhist tourism in Nepal. According to the Nepal Tourism Board, the expo served as a platform to invite Buddhist pilgrims from Myanmar to visit Nepal. The event was organized on March 21-22 to mark the 65th… Continue reading ‘Nepal-Myanmar Trade and Tourism Expo 2025’ concludes in Yangon

Kathmandu: The Association of Investment Bankers of India (AIBI) and the Merchant Bankers Association of Nepal (MBAN) have signed a Memorandum of Understanding (MoU) to enhance collaboration in the investment banking sector. According to a press release issued by AIBI, the agreement aims to promote capacity building, professional development, regulatory understanding, and best practices for… Continue reading India, Nepal sign MoU to strengthen investment banking cooperation

Kathmandu: The United Nations Development Programme (UNDP) and the Nepal Tourism Board (NTB) have signed a $5 million financing agreement to launch the Sustainable Tourism Project (STP), an initiative aimed at strengthening tourism infrastructure, skilling the workforce, and creating 2,500 sustainable jobs across Nepal. The project aligns with Nepal’s 16th Plan, the Sustainable Development Goals… Continue reading UNDP and Nepal Tourism Board launch $5M Sustainable Tourism Project

Kathmandu: The price of gold in the domestic market has reached a new all-time high, setting a fresh record on Wednesday. According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of gold surged by Rs 800 per tola, reaching Rs 176,000 per tola. This marks the highest price ever recorded for… Continue reading Gold price hits record high in Nepali market

Kathmandu: For the first time, a commercial charter flight has been operated from Pokhara International Airport to Chengdu, Sichuan Province, China. The flight, which took off on Tuesday, marks a significant milestone for the airport, which opened its doors in January 2023. The historic flight was made possible through the collaboration of several organizations, including… Continue reading 1st commercial charter flight from Pokhara to Chengdu takes off

Kathmandu: Nepal’s telecom sector is on the brink of crisis, requiring urgent government intervention for sustainability, industry experts warned at a discussion organized by the Society of Economic Journalists Nepal (SEJON) on Wednesday. Telecom expert Manohar Kumar Bhattarai highlighted that while 90% of the population has 4G coverage, only two out of ten users regularly… Continue reading Nepal’s telecom sector nearing crisis, urgent reforms needed

Kathmandu: Nepali students pursuing higher education abroad have taken Rs 64.15 billion out of the country in the first seven months of the current fiscal year, according to data released by Nepal Rastra Bank (NRB). The NRB report highlights that under the services account, overall travel expenses have surged by 10.6 percent, reaching Rs 115.88… Continue reading Nepali students spend Rs 64.15 bn on foreign education in seven months