Category: Finance

Kathmandu: Remittance inflows increased 21.6 percent to Rs.839 billion in the review period compared to an increase of 27.1 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 19.1 percent to 6.31 billion in the review period compared to an increase of 16.4 percent in the same… Continue reading Remittances increases by 21.6 percent

Kathmandu: Honda, a global leader in two-wheelers, has officially launched its ‘Assembly Plant’ in Bhairahawa, Nepal. The grand inauguration was presided over by Minoru Kato, the Vice President of the main business unit at Honda Motorcycle. The cutting-edge facility, established with a substantial investment of Rs 1.5 billion, spans an impressive 200,000 square feet. The… Continue reading Honda unveils assembly plant in Nepal

Kathmandu: On Thursday, the domestic gold market witnessed another remarkable surge, with the yellow metal climbing by Rs 1500 per tola, setting a new record high. Similarly, silver prices experienced a significant increase of Rs 30 per tola. This marks the third noteworthy price hike in gold within the domestic market this week, accumulating a… Continue reading Gold surges to record high in domestic market

Kathmandu: In a protracted customs dispute, six aircraft and four helicopters have been rendered inoperable, causing significant disruptions just as the tourism season is set to commence. The impasse, originating from a clash between the Department of Customs (DoC) and an airline operator over customs duties on imported spare parts, has persisted for nearly two… Continue reading Customs dispute grounds aircraft and helicopters, jeopardizing tourism season

Kathmandu: Allegations of corruption have been filed against former Mayor Udaykumar Yadav of Shree Harsha Municipality in Dhanusha, along with several others, for purportedly embezzling approximately NPR 1.4 million in the procurement of sanitary pads. The case has been registered against them for corruption and misuse of authority. During the fiscal year 2077/78, a deal… Continue reading Mayor Udaykumar Yadav and others accused of corruption in sanitary pad procurement

Kathmandu: In a recent development, the Commission for Investigation of Abuse of Authority (CIAA) has announced its intention to register a case related to the Telecommunication Traffic Monitoring and Fraud Control System (TERAMOCS) in the Special Court in the coming days. During Tuesday’s meeting of the Public Accounts Committee under the House of Representatives, Chief… Continue reading CIAA to file case on TERAMOCS scandal, promises swift resolution

Kathmandu: The Council of Ministers has granted approval for Finance Minister Dr. Prakash Sharan Mahat’s official visit to the United States in March. This decision follows the Council’s endorsement of a delegation, including the Finance Minister and the Secretary, slated to participate in two crucial meetings. The first meeting focuses on preparations for the second… Continue reading Finance Minister Dr. Prakash Sharan Mahat set to visit USA in March

Kathmandu: The Kathmandu Metropolitan City (KMC) has warned to take strict action against those using plastic bouquet and flowers. The KMC has imposed prohibition in the production, sales, distribution, storage and use of plastic bouquet and flowers as well as plastic bags with thickness below 40 micron since July 17 last year. The warning was… Continue reading KMC to take strict against plastic bouquet, flower users

Kathmandu: Ambassador of Japan for Nepal Kikuta Yutaka has signed a grant contract for the construction of a new health post in Sindhuli. The signing ceremony, held at the Embassy of Japan in Kathmandu, saw the formalization of the agreement between Ambassador Yutaka and Siramala Tamang, Chairperson of Sahakarya Nepal, Sindhuli. The project, funded under… Continue reading Japanese govt grants USD 73,747 for new health post in Sindhuli

Kathmandu: In a concerning development for the nation’s economy, the trade deficit for the initial seven months of the current fiscal year has surged past Rs 811 billion, despite assurances from the government about addressing the issue. According to data released by the Department of Customs, the trade deficit has reached Rs 811.11 billion, showcasing… Continue reading Nepal govt’s efforts to reduce trade deficit fall short as numbers persist