Category: Finance

Kathmandu: Nepal Airlines Corporation (NAC) has begun repayment of loans obtained from the Employees Provident Fund (EPF) and the Citizen Investment Trust (CIT) for the acquisition of aircraft. As of mid-July 2024, NAC has successfully returned over Rs 430 million towards its loan obligations for two narrow-body and two wide-body aircraft utilized for international operations.… Continue reading NAC repays loans amid economic challenges

Kathmandu: Bangladesh Power Development Board (BPDB) has officially accepted Nepal Electricity Authority’s (NEA) bid to purchase 40 megawatts (MW) of electricity for the upcoming monsoon season. The agreement, set to span five years, marks a significant step in regional energy cooperation. The correspondence, issued on Monday, confirms BPDB’s approval of NEA’s bid submission, adhering to… Continue reading Nepal to export electricity to Bangladesh under tripartite agreement

Kathmandu: District Public Prosecutor’s Office has initiated legal action against 15 individuals implicated in a fraudulent scheme aimed at obtaining personal gains through the creation of counterfeit driving licenses. The case has been formally lodged at the Kathmandu District Court. Among the accused is Keshav Aryal, formerly the head of the Transport Management Office, alongside… Continue reading 15 individuals charged for fake driving license scam

Kathmandu: The price of gold has reached a new record high in the country. On Sunday, gold prices surged by Rs 1,000 per tola, hitting an all-time high of Rs 145,400 per tola in the domestic market, according to the Federation of Nepal Gold and Silver Dealers’ Associations (FENEGOSIDA). This new peak surpasses the previous… Continue reading Gold price hits new record in domestic market

Kathmandu: In a significant move to promote ‘learning by earning’, the Ministry of Education, Science and Technology, and the Ministry of Energy, Water Resources and Irrigation have signed a memorandum of understanding (MoU) to enhance the skills and apprenticeship opportunities for students of the Council for Technical Education and Vocational Training (CTEVT). The MoU aims… Continue reading Ministries collaborate to enhance skills and apprenticeships for CTEVT students

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) has taken action against Chiribabu Maharjan, Mayor of Lalitpur Metropolitan City, following allegations of unauthorized fund distribution intended for flood victims. According to a complaint lodged with the CIAA, it is alleged that Rs 150,000 and Rs 250,000 were disbursed to flood victims in… Continue reading CIAA summons Lalitpur Mayor over alleged fund misappropriation

Kathmandu: Nepal Rastra Bank (NRB) has sounded alarm bells over a significant rise in suspicious financial transactions across the country’s banks and financial institutions (BFIs). According to records from NRB’s Financial Investigation Unit (FIU), these transactions surged by a staggering 57 percent in 2023 alone, reaching a total of 6,255 cases amounting to approximately Rs… Continue reading Surge in suspicious financial transactions reported by NRB

Kathmandu: Civil Aviation Authority of Nepal (CAAN) has taken decisive action against Yuvraj Adhikari, the chairperson of Nepal Airlines Corporation (NAC), following an unauthorized dispatch of a wide-body aircraft for a critical maintenance check. The suspension of Adhikari, along with several key personnel, stems from an incident where an NAC aircraft was sent for a… Continue reading CAAN suspends NAC Chairperson over unauthorized aircraft dispatch

Kathmandu: The Government of Israel has unveiled a significant opportunity for Nepali caregivers, offering 800 positions with attractive monthly salaries exceeding Rs 200,000. The Department of Foreign Employment has initiated the application process, which will remain open online for 21 days from the date of the announcement. Applicants must meet specific eligibility criteria to be… Continue reading Israel announces 800 caregiver positions with high salaries for Nepali applicants

Kathmandu: Deputy Prime Minister and Foreign Minister Narayankaji Shrestha announced Kuwait’s intention to hire an additional 200,000 Nepali workers during a media briefing at Tribhuvan International Airport. He shared this information upon returning from the 19th Foreign Ministerial level meeting of Asia’s Cooperation Dialogue (ACD) in Tehran, Iran. Foreign Minister Shrestha disclosed that Kuwait’s Foreign… Continue reading Kuwait to increase Nepali workers to 300,000