Category: Finance

Kathmandu: In a proactive move to attract both domestic and foreign investors, the Nepalese government has announced significant amendments to nine key laws through an ordinance. This strategic overhaul aims to address long-standing grievances from the private sector regarding the existing legal framework, which has been perceived as a hindrance to creating an investment-friendly environment… Continue reading Nepal govt amends 9 laws to foster investment environment ahead of Nepal Investment Summit 2024

Kathmandu: During a meeting with the current Minister of Finance while on his visit to the United States, the Assistant Director of the IMF reaffirmed their commitment to assist Nepal in maintaining economic stability. In a discussion held in Washington DC, the Minister highlighted Nepal’s efforts to ensure economic stability amidst challenges. He emphasized that… Continue reading IMF expresses commitment to support Nepal’s economic stability

Kathmandu: Kuwait has initiated an amnesty program to facilitate the return of stranded migrant workers, particularly from Nepal. The program, running until June 17, 2024, aims to help individuals who entered Kuwait illegally or overstayed their visas to return home without facing fines. It provides an opportunity for those who wish to continue working in… Continue reading Kuwait offers amnesty to stranded migrant workers, including Nepali nationals

Kathmandu: Experts have revealed delays in operating Nepal’s airports under the Public-Private-Partnership (PPP) model. They suggest that airports should focus on profitability, besides security and sensitive areas, while also recommending privatization and management responsibilities to the private sector. The government has formed a committee to study the operation of Tribhuvan International Airport, as well as… Continue reading Experts highlight delays in implementing PPA model for Nepal’s airports

Kathmandu: China’s economy made a stronger-than-expected start to the year, even as the crisis in its property sector deepened. According to official data, gross domestic product (GDP) expanded by 5.3% in the first three months of 2024, compared to a year earlier. That beat expectations the world’s second largest economy could see growth slow to… Continue reading China economy grows faster than expected in first quarter

Kathmandu: The upcoming Third Investment Summit, set to unfold in Kathmandu on April 28 and 29, has unveiled its two-day agenda, promising a rich array of discussions and presentations. According to the Investment Board, the first day will feature two special sessions alongside the inaugural session, focusing on “Exploring Investment Opportunities in Nepal” and “Success… Continue reading 3rd Investment Summit to take place on April 28-29 in Kathmandu

Kathmandu: For Nepalis living in Romania, Esewa, in collaboration with Smith and Smith, has unveiled a lucrative offer aimed at enhancing the money transfer experience. The partnership aims to streamline remittance services from Romania to Nepal, offering enticing rewards for customers. Effective from April 13 until July 15, customers utilizing Smith and Smith’s services to… Continue reading Esewa teams up with Smith and Smith to ease remittance service in Romania

Kathmandu: In a significant move aimed at bolstering its logistical capabilities, e-commerce behemoth Daraz is poised to lease over 10 acres of land in the Kathmandu Valley. The land lease, spanning a period of 10 years, is intended to facilitate the construction of essential infrastructure to support the company’s operations. Daraz has outlined specific requirements… Continue reading Daraz to lease 10 acres of land in Kathmandu Valley for logistics infrastructure

Kathmandu: In a brewing crisis for Nepal’s honey industry, local producers are grappling with dwindling sales and the looming threat of leaving the sector altogether. The root cause of this distress lies in the dominance of Indian honey in the Nepali market, leaving indigenous honey largely unsold. Expressing their grievances, farmers are pointing to the… Continue reading Nepali honey industry in crisis as local producers struggle to compete with Indian imports

Kathmandu: In its latest Asian Development Outlook (ADO) for April 2024, the Asian Development Bank (ADB) has projected a growth rate of 3.6% for Nepal’s economy at market prices in the year 2024. This marks a significant increase from the estimated growth of 1.9% in fiscal year 2023. ADB Country Director for Nepal, Arnaud Cauchois,… Continue reading ADB projects Nepal’s economy to grow by 3.6% in 2024