Category: Finance

Kathmandu: The United States government has put all US-funded Millennium Challenge Corporation (MCC) projects in Nepal on hold for 90 days, citing an executive order issued by President Donald Trump on January 20, 2025. The decision was conveyed through an email from the Washington DC-based MCC to Nepal’s Ministry of Finance on February 14. The… Continue reading US suspends MCC projects in Nepal for 90 days

Kathmandu: The United States has withdrawn $39 million (Rs 5.39 billion) in aid previously allocated for Nepal’s fiscal federalism and biodiversity conservation programs. The funding cuts are part of a broader move to scale back foreign assistance across multiple sectors. The Department of Government Efficiency (DOGE), led by billionaire entrepreneur Elon Musk, announced the decision… Continue reading US cancels $39 million in aid to Nepal for fiscal federalism, biodiversity conservation

Kathmandu: Prime Minister KP Sharma Oli has appointed Non-Resident Nepali Association (NRNA) President Badri KC as a member of the Industry, Commerce, and Promotion Dialogue Council. The appointment, based on a Cabinet decision from December 20, 2024, falls under the 2075 BS Industry, Commerce, and Promotion Dialogue Council (Formation) Order. The council, formed to facilitate… Continue reading PM appoints NRNA President Badri KC to Industry, Commerce Dialogue Council

Kathmandu: Japan is set to recruit 20,000 Nepali workers as caregivers under the newly signed Nepal-Japan Service Exchange Program. The agreement, announced at a press conference on Monday, involves Nepali and Japanese companies collaborating to facilitate the recruitment process. Representatives from Japan’s Genkou Research Institute, Kozai Koson Corporation, and Progressive Staff Agency, along with Nepal’s… Continue reading Japan to recruit 20,000 Nepali caregivers in health sector

Kathmandu: Nepal received Rs 763.08 billion in remittances in the first six months of the current fiscal year, marking a 4.1% increase compared to the same period last year, according to the Ministry of Finance’s mid-term review report released Thursday. However, remittance growth slowed significantly compared to last year’s 22.2% rise during the same period.… Continue reading Nepal receives Rs 763.08 billion in remittance in 6 months

Kathmandu: The US dollar surged to an all-time high against the Nepali rupee, reaching Rs 140.43 on Friday, according to Nepal Rastra Bank (NRB). Some money exchangers offered rates exceeding Rs 141. This new peak surpasses the previous record of Rs 139.80 set on Tuesday. By Thursday, the exchange rate had already climbed to Rs… Continue reading US Dollar hits record high of Rs 140.43 against Nepali Rupee

Kathmandu: The Embassy of Nepal in Muscat has officially begun issuing labor permits to Nepali workers legally employed in Oman who had not previously obtained one from Nepal. This initiative, the first of its kind abroad, was launched on January 31, 2025, in Salalah, Oman. Nepali workers currently employed in Oman without prior labor approval… Continue reading Nepali Embassy in Muscat begins issuing labor permits for Nepali workers in Oman

Kathmandu: The government has decided to set up the country’s first consumer court, a move long envisioned by the Consumer Protection Act, which was endorsed six years ago. A Cabinet meeting on Monday approved the establishment of the first judicial body of its kind. Initially, the consumer court will operate in the Kathmandu Valley to… Continue reading Nepal govt to establish Nepal’s first Consumer Court

Kathmandu: The government has introduced the Air Service Authority of Nepal (ASAN) Bill, which seeks to designate key responsibilities, previously held by the Civil Aviation Authority of Nepal (CAAN), to a newly established aviation authority. The proposed changes aim to streamline operations, enhance safety, and modernize Nepal’s air services. Under the ASAN Bill, the new… Continue reading Nepal govt reopens discussion to split CAAN

Kathmandu: Pokhara has started receiving electricity through an underground distribution system, marking a significant milestone in modernizing the city’s power infrastructure. The Nepal Electricity Authority (NEA) has begun supplying power through the system under the Pokhara–Bharatpur Distribution System Strengthening Project, improving reliability and enhancing the city’s visual appeal. In the first phase, the underground network… Continue reading NEA begins underground electricity supply in Pokhara