Category: Finance

Kathmandu: In response to the excess liquidity in the banking system, the Nepal Rastra Bank (NRB) will undertake a significant liquidity absorption operation on Sunday. The central bank has announced plans to withdraw Rs 100 billion through a bidding instrument. The NRB’s move follows a previous operation on August 18, where it mopped Rs 100… Continue reading NRB to drain Rs 100 bn from excess liquidity

Kathmandu: Under newly passed legislation, individuals convicted of cheque bouncing may face imprisonment ranging from one month to two years. This development was confirmed during a recent meeting of the Finance Committee on the Banking Offenses and Punishment (Second Amendment) Bill, 2080. The committee detailed that the length of imprisonment will be contingent upon the… Continue reading New legislation imposes stricter penalties for cheque bouncing

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) is poised to enforce a ban on share trading activities within Singha Durbar, the seat of Nepal’s government, following multiple complaints about misuse of office time. The CIAA has decided to shut down the Trade Management System (TMS) used for share trading within the… Continue reading CIAA to ban share trading activities at Singha Durbar

Kathmandu: In the fiscal year 2023/24, significant measures were taken against 35 industrial institutions and employers found guilty of using child labor, a practice deemed illegal under current regulations. The Labor and Employment Office in Hetauda carried out a comprehensive monitoring operation, inspecting 95 industries to ensure compliance with labor laws. As a result, those… Continue reading Hetauda office cracks down on 35 industries for child labor violations

Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has drawn the attention of the newly appointed Chief Secretary, Ek Narayan Aryal, to the need for policy reforms and stability for rapid and sustainable economic development, even though there has been some improvement in the economy lately. FNCCI President Chandra Prasad Dhakal stated… Continue reading FNCCI delegation meets Chief Secretary Aryal

Kathmandu: The Nepal Tourism Board (NTB) has reported a significant influx of visitors to Nepal in 2024, with a total of 720,334 tourists arriving in the country between January and August. August 2024 alone saw 72,719 tourists, marking an increase from 67,153 visitors in August 2023 and 41,304 in August 2022. Despite this growth, current… Continue reading Nepal welcomes over 700,000 tourists in first 8 months of 2024

Kathmandu: The Millennium Challenge Corporation (MCC) Nepal Compact has officially signed a contract for an 18-kilometer cross-border electricity transmission line, a crucial element of the Electricity Transmission Project funded by the US and Nepal governments. The contract, worth USD 12.36 million, was awarded to Transrail Lighting Ltd and involves constructing the line from the 400… Continue reading Nepal and US sign major electricity transmission line contract

Kathmandu: Nepal Rastra Bank (NRB) has released today’s (Thursday) foreign currency exchange rates. The US Dollar, Australian Dollar, and Kuwaiti Dinar have seen an increase, while the Euro and British Pound have decreased. The US Dollar is priced at Rs 134.03 for buying and Rs 134.63 for selling, up from Rs 133.99 and Rs 134.59… Continue reading NRB updates foreign exchange rates: dollar and dinar up, euro and pound down

Kathmandu: Nepal Airlines Corporation (NAC) has experienced significant disruptions to its international flights due to the grounding of three aircraft. The issues have persisted for two days, affecting around 800 passengers across destinations including Kathmandu, Hong Kong, Doha, and Dubai. The grounding stems from a hydraulic problem in NAC’s narrow-body aircraft, “Sagarmatha,” leading to flight… Continue reading NAC faces major disruptions as 3 aircraft grounded

Kathmandu: Nepal and the United Kingdom have formalized two separate agreements for grant aid, valued at approximately Rs 13.08 billion, in a ceremony held on Wednesday. The agreements include a Rs 6.5 billion grant for a programme aimed at enhancing resilience, adaptation, and inclusion in Nepal. The initiative, known as the Resilience, Adaptation, and Inclusion… Continue reading Nepal and UK sign MoU for 13.08bn grant aid