Category: Finance

Kathmandu: Nepal is on the brink of a major stride in its energy sector as preparations intensify for a pivotal electricity trade agreement. Scheduled for July 28, energy ministers from Bangladesh and India are set to visit Nepal to finalize the terms of this groundbreaking deal. The agreement, initially inked between Nepal and Bangladesh, aims… Continue reading Nepal, Bangladesh, and India prepare for landmark electricity trade agreement

Kathmandu: On Wednesday, Nepal Stock Exchange (NEPSE) witnessed a remarkable surge, achieving a daily turnover of Rs 12.05 billion, marking its highest figure in the past 35 months. The bullish trend follows recent political developments where Nepali Congress and CPN-UML formed a coalition to replace the former government. This alliance has bolstered investor confidence, particularly… Continue reading NEPSE hits 35-month high with record daily turnover

Kathmandu: Today, the price of gold has soared to a historic peak of Rs 149,800 per tola, marking a significant increase of Rs 2,000 compared to Tuesday’s rate of Rs 147,800 per tola. Simultaneously, the standard gold price has risen to Rs 149,100 per tola from Rs 147,100 per tola yesterday. In tandem, silver prices… Continue reading Gold prices surge to record highs, silver also rises

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