Category: Finance

Kathmandu: As of mid-November in the Fiscal Year (FY) 2023/24, Nepal has witnessed a notable surge in public debt, accumulating over Rs 57.71 billion in the first quarter alone. This has propelled the total public debt to Rs 2.36 trillion, up from Rs 2.29 trillion recorded in mid-July, as reported by the Public Debt Management… Continue reading Nepal’s public debt surpasses Rs 2.36 trillion in FY 2023/24 Q1

Kathmandu: Himalaya Airlines has commenced direct flights from Kathmandu to Shanghai, China, marking a milestone in air connectivity between Nepal and one of China’s major cities. The airline’s inaugural flight, carrying 137 passengers, departed from Tribhuvan International Airport (TIA) at 9:20 AM and is scheduled to land in Shanghai at 9 PM today. The Kathmandu-Shanghai… Continue reading Himalaya Airlines inaugurates direct flights connecting Kathmandu to Shanghai

Kathmandu: The Nepal Quality Health Systems Program was jointly launched today by the Additional Health Secretary, Dr. Tanka Barakoti and World Bank Practice Manager for the Health, Nutrition and Population Global Practice, Feng Zhao. The Program aims to improve the readiness of the health system for delivery of quality healthcare, enhance coverage of health insurance,… Continue reading Nepal govt and World Bank launches $103.84 mn worth program to strengthen Nepal’s health system

Kathmandu: In a significant development, gold prices have reached unprecedented levels, touching Rs 117,700 per tola (11.6 grams) on Tuesday. The surge, as reported by the Federation of Nepal Gold and Silver Dealers Associations, is attributed to a remarkable increase in the international gold market, thereby setting a new record in the domestic market. Just… Continue reading Gold prices hit all-time high at Rs 117,700 per tola

Kathmandu: Bishal Shrestha and Shanti Shrestha from Ward 14 of Kathmandu Metropolitan City, who had promised to send an individual to the United States for employment, have been arrested for allegedly committing fraud amounting to 1.5 million rupees. Chandrabahadur Rawal, who intended to travel to the United States for employment, claimed that Vishal and Shanti… Continue reading Two held for deceiving individual with fake U.S. Job Offer, swindling 1.5 Million Rupees

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) has initiated legal proceedings against nine individuals, including the former deputy mayor and chief administrative officer of Ramdhuni Municipality in Sunsari district. The charges pertain to financial irregularities in connection with a road construction project payment. Among those accused are Sani Kumari Chaudhary, the… Continue reading CIAA takes legal action against 9 individuals over alleged financial irregularities

Kathmandu: In a proactive move to attract foreign direct investment (FDI) and showcase Nepal as a lucrative investment destination, the government has announced the upcoming Investment Summit scheduled to take place on April 21-22, 2024. To ensure the success of the summit, a preparatory committee has been established, with Finance Minister Dr. Prakash Sharan Mahat… Continue reading Nepal to host ‘Investment Summit’ to foster foreign direct investment

Kathmandu: As of mid-November in the current fiscal year (FY 2023-24), Nepal has recorded a trade deficit exceeding Rs 460 billion, according to data released by the Department of Customs.The figures reveal a trade deficit of Rs 461.93 billion, with the country’s foreign trade volume reaching over Rs 563 billion and import volume exceeding Rs… Continue reading Nepal’s trade deficit surpasses Rs 460 billion in first four months of FY 2023-24

Kathmandu: In this year’s Tihar festival, the flower trade reached a total turnover of Rs. 240 million, as reported by Floriculture Association Nepal (FAN). Although the flower production was good, prices were lower compared to last year, resulting in a decrease of Rs. 2 crores from the previous year’s turnover of Rs. 26 crores. The… Continue reading Tihar flower trade: Rs. 240 mn turnover, Rs. 7 Crores less than last year

Kathmandu: The government has honored the outstanding taxpayers. Finance Minister Dr Prakash Sharan Mahat today honored the ‘best taxpayers’ from various sectors at the closing ceremony of the Tax Week organized on the occasion of the National Tax Day, 2080. The Nepal Telecommunications Company (Nepal Telecom) has been honored for being the biggest taxpayer in… Continue reading Govt recognizes major contributors to tax revenue