Category: Finance

RSP Chairman Rabi Lamichhane presented in court amid cooperative fraud case

Kathmandu: Rabi Lamichhane, the chairman of the National Independent Party (Raswap), was presented in the Kaski District Court today as part of an investigation into a cooperative fraud and organized crime case linked to the Surya Darshan Savings and Credit Cooperative Limited in Pokhara. Lamichhane, a former Deputy Prime Minister and Home Minister, was arrested… Continue reading RSP Chairman Rabi Lamichhane presented in court amid cooperative fraud case

Malaysia increases minimum wage for workers

Kathmandu: The Malaysian government has announced an increase in the minimum wage for workers, raising it from 1,500 to 1,700 Malaysian Ringgit per month. This decision was revealed during the 2025 budget speech by Prime Minister Datuk Seri Anwar Ibrahim. Starting from August 1, 2025, this new minimum wage will apply to employers with fewer… Continue reading Malaysia increases minimum wage for workers

USSD-based payment system proposed for Nepal

Kathmandu: In a recent discussion surrounding the strategic development of payment systems, experts have proposed the implementation of an Unstructured Supplementary Service Data (USSD)-based payment system in Nepal. This initiative aligns with the country’s Strategic Pillar-4, Objective-2, and aims to enhance financial inclusivity. The report titled “USSD-Based Payment System and its Regulations: Suggestions for Nepal”… Continue reading USSD-based payment system proposed for Nepal

Former Deputy Prime Minister Rabi Lamichhane arrested for embezzlement charges

Kathmandu: Former Deputy Prime Minister and Home Minister Rabi Lamichhane has been arrested on charges of embezzling funds from cooperatives. The arrest occurred on Friday evening at the central office of his political party, the Rastriya Swatantra Party (RSP), located in Banasthali, Kathmandu. As police took Lamichhane into custody, RSP leaders and supporters voiced their… Continue reading Former Deputy Prime Minister Rabi Lamichhane arrested for embezzlement charges

237,000 air travelers pass through TIA during Dashain festival

Kathmandu: A total of 237,000 travelers passed through Tribhuvan International Airport (TIA) during the five days of the Bada Dashain festival, according to the TIA office’s recent statistics. From October 10 to 14, which marked the period from the sixth day of Dashain (Phulpati) to the penultimate day, 160,910 passengers used domestic flights while 78,512… Continue reading 237,000 air travelers pass through TIA during Dashain festival

Now onwards Nepalis with work permit for Australia can carry $500

Kathmandu: Nepal Rastra Bank has announced that individuals seeking employment in Australia will now be eligible for passport exchange benefits on par with those traveling to Europe, the United States, and Japan. Currently, job seekers heading to Japan, South Korea, Europe, the US, and Canada have been receiving a foreign exchange facility of $500. In… Continue reading Now onwards Nepalis with work permit for Australia can carry $500

Consumer inflation remained 3.85 percent on y-o-y basis

Kathmandu: The y-o-y consumer price inflation stood at 3.85 percent in mid-September 2024 compared to 8.19 percent a year ago. Food and beverage inflation stood at 5.03 percent whereas non-food and service inflation stood at 3.19 percent in the review month. During the same period in the previous year, the price indices of these groups… Continue reading Consumer inflation remained 3.85 percent on y-o-y basis

Reduced currency exchange pressure in Nepal ahead of festivals

Kathmandu: The Nepal Rastra Bank (NRB) has reported a significant decrease in currency exchange pressure this year, as it refrains from printing new notes for the upcoming Dashain and Tihar festivals. In contrast to last year’s exchange of Rs 14.5 billion in new notes within the Kathmandu Valley and Rs 29 billion nationwide, this year’s… Continue reading Reduced currency exchange pressure in Nepal ahead of festivals

World Bank approves $150 mn to strengthen Nepal’s disaster response and resilience

Kathmandu: The World Bank’s Board of Executive Directors today approved $150 million in contingent financing for the Government of Nepal to use in the event of a natural or climate-induced hazard or health emergency in Nepal. The Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (Cat DDO) operation supports policy and regulatory… Continue reading World Bank approves $150 mn to strengthen Nepal’s disaster response and resilience