Category: Finance

Kathmandu: Budget for the upcoming fiscal year 2024/25 is set to be unveiled on Tuesday, May 28, at 1:00 PM. Speaker Devraj Ghimire announced this pivotal event during a House of Representatives meeting held on Sunday. The Speaker confirmed that a joint session of the Federal Parliament has been convened for the specific purpose of… Continue reading Govt to unviel budget for FY 2024/25 on May 28

Kathmandu: The country’s outstanding public debt has reached nearly Rs 2.4 trillion. The public debt witnessed a rise of Rs 98 billion in the last 10 months of the current fiscal year alone, according to the Public Debt Management Office (PDMO). In the beginning of the current Fiscal Year, the public debt stood at Rs… Continue reading Nepal’s public debt soars to Rs 2.4 trillion, marking Rs 98 bn surge in 10 months

Kathmandu: The Institutionalizing Gender-Based Violence Response in Federal Nepal Project was jointly launched today by the Honorable Minister of Women, Children, and Senior Citizens, Ms. Bhagbati Chaudhary and World Bank Country Director for Maldives, Nepal, and Sri Lanka, Mr. Faris Hadad-Zervos. The three-year project will help increase women’s and girls’ access to multisectoral gender-based violence… Continue reading Nepal govt and World Bank launch $4.6 mn project to strengthen response to gender-based violence

Kathmandu: By the mid-May, Nepal finds itself grappling with a trade deficit of Rs 1177 billion for the current financial year. The Department of Customs reports imports amounting to Rs 1303 billion, overshadowing exports which stood at a meager Rs 126 billion. Foreign trade transactions for the first 10 months of the fiscal year totaled… Continue reading Trade deficit hits Rs 1177 bn, Nepal’s economy under strain

Kathmandu: Price of gold surged by Rs 900 per tola on Monday, reaching an unprecedented all-time high. As of today, fine gold is trading at Rs 141,800 per tola, marking a substantial increase from Rs 140,900 per tola recorded the previous day. Similarly, the price of standard gold has witnessed a significant rise, reaching Rs… Continue reading Gold prices reach all-time high in domestic market

Kathmandu: The government has introduced the ‘National Startups Policy, 2080’ to bolster investment in startup companies. This policy, recently adopted by the Council of Ministers, encompasses several key provisions aimed at facilitating entrepreneurship and innovation. Under the policy, startups will benefit from waivers on costs associated with registering businesses and industrial properties. Additionally, entrepreneurs will… Continue reading Govt introduces ‘National Startups Policy, 2080’ to boost startup investment

Kathmandu: In a bid to bolster green economic practices and job creation in Pokhara, the Korean government has committed USD 9.8 million towards the “Green Job Creation through Recycling and Upcycling Project in Pokhara Metropolitan City (PMC)”. The Memorandum of Understanding (MoU) for this initiative was inked by Taeyoung Park, Ambassador of the Republic of… Continue reading Korea pledges $9.8mn for green job creation in Pokhara

Kathmandu: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has asked the private sector to invest in the country’s hydropower sector with confidence, stating that an agreement has been signed with India to export 10,000 megawatts of power from Nepal in a decade. Addressing the 22nd annual general assembly of Independent Power Producers’ Association, Nepal (IPPAN) here… Continue reading PM Dahal calls for private sector confidence in hydropower investment

Kathmandu: In a landmark move aimed at facilitating Nepali citizens working abroad, the Ministry of Labour, Employment and Social Security (MoLESS) has introduced amendments to the Foreign Employment Management Service Delivery Procedure 2081 BS. This revision now enables Nepali workers, who initially traveled abroad on various visas excluding employment visas, to obtain Legitimization Work Permits… Continue reading Nepali workers abroad granted path to legitimization work permits

Kathmandu: Nepal’s economic landscape witnesses a significant uptick as the nation’s foreign exchange reserves witness a remarkable surge. According to the latest figures released by the Nepal Rastra Bank (NRB), as of mid-April 2024, the total foreign exchange reserves have ballooned by 24.2 percent, reaching a staggering NPR 1.911 trillion. This notable increase marks a… Continue reading Nepal’s foreign exchange reserves surge to Rs 1.911 trillion