Category: Finance

Kathmandu: The Nepal Electricity Authority (NEA) has introduced a high-tech data center in Syuchatar, Kathmandu, aligning with global standards and reshaping service provision. This advanced facility, adjacent to the load dispatch center, signifies a significant leap in NEA’s digital capabilities. Comprising a three-story structure, the center’s ground level monitors Kathmandu Valley’s underground power distribution network,… Continue reading NEA inaugurates data center to transform service delivery

Kathmandu: The y-o-y consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago. Food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month. Under the Food and Beverage Category, y-o-y price index of vegetable sub-… Continue reading Inflation remains at 4.40 percent in Nepal

Kathmandu: Nepal is preparing to host the 21st International Development Association (IDA) meeting, a significant milestone in the nation’s engagement with global economic development initiatives. Scheduled to take place in Kathmandu from June 18 to 21, this meeting marks the largest program under the World Bank Group. Prime Minister Pushpa Kamal Dahal will inaugurate the… Continue reading Nepal to host 21st International Development Association meeting

Kathmandu: The domestic gold market witnessed a remarkable surge on Thursday, with prices soaring by Rs 1,800 per tola, setting a new record. This surge comes on the heels of a steady upward trajectory observed since the announcement of the fiscal year 2080/81 budget, which included a 5% increase in customs duty on gold imports.… Continue reading Gold prices surge to new high in domestic market

Kathmandu: In a fervent display of dissent, gold and silver traders have taken to the streets, vehemently protesting against the recent surge in customs duties and quotas imposed by the Nepal Rastra Bank (NRB) on gold imports. Led by a coalition of gold and silver traders along with a committee representing goldsmiths, a sizable gathering… Continue reading Gold and silver traders rally against increased tax

Kathmandu: The price of gold in the domestic market continued its upward trajectory, rising by Rs 1,700 per tola on Friday. This surge comes on the heels of a significant increase of Rs 2,300 per tola reported on Thursday. Despite a drop in international gold prices, the yellow metal’s value has soared due to ongoing… Continue reading Gold prices surge in domestic market despite global dip

Kathmandu: In a strategic move bolstered by increased electricity generation, Nepal has embarked on exporting approximately 400 megawatts of electricity to neighboring India every day. The initiative, spearheaded by the Nepal Electricity Authority (NEA), commenced last Monday night, marking a significant milestone in the region’s energy landscape. The surge in electricity output is attributed to… Continue reading Nepal commences exporting 400 MW of electricity daily to India

Kathmandu: Recent data from the Foreign Employment Board has shed light on the alarming trend of fatalities and illnesses among Nepali migrant workers stationed abroad. From the fiscal year 2077-78 BS (2020-21) to 2079-80 BS (2022-23), a total of 4,035 Nepalis working overseas lost their lives, with an additional 870 individuals sustaining injuries or falling… Continue reading Nepali migrant worker fatalities on the rise

Kathmandu: Finance Minister Barsha Man Pun revealed the national budget for the forthcoming fiscal year, marking a pivotal moment in economic policy for the nation. Exceeding the previously set ceiling of Rs 1.8 trillion by the National Planning Commission, the government has allocated a substantial budget of Rs 1.860 trillion for the fiscal year 2024/25.… Continue reading Nepal govt unveils Rs 1.860 trillion budget for FY 2024/25

Kathmandu: Amidst political disruptions from the main opposition party, Nepali Congress, Finance Minister Barsha Man Pun presented the Economic Survey for the fiscal year 2023/24 AD and the Annual Review of Public Enterprise 2081 BS during a parliamentary session, offering crucial insights into Nepal’s economic landscape. Minister Pun unveiled a forecast of a 3.9 percent… Continue reading Economic growth forecast and fiscal overview amidst political disruptions