Category: Finance

Kathmandu: The NRN Nepal Development Fund, amounting to NPR 10 billion, will be implemented starting this month. The agreement was reached during a discussion at the Finance Ministry involving Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Non-Resident Nepali Association (NRNA) President Dr. Badri KC, and Founder President Dr. Upendra Mahato, among others. The… Continue reading NRN Nepal Development Fund set to launch this month

Kathmandu: The long-awaited Supreme Court hearing regarding the case filed by Hitendradev Shakya against Kulman Ghising’s appointment as the Managing Director of the Nepal Electricity Authority (NEA) has been postponed once again. Shakya’s petition, which seeks the cancellation of Ghising’s appointment, was scheduled for a hearing on Wednesday. However, the hearing has been delayed yet… Continue reading Supreme court postpones hearing on Kulman Ghising’s NEA appointment case

Kathmandu: Nepal’s electricity production capacity has surged to 3,157 megawatts (MW), marking a notable increase of approximately 1,700 MW over the past three years, according to the latest data from the Nepal Electricity Authority (NEA). The NEA’s records reveal that Nepal’s total production capacity has expanded by about 2,300 MW over the past eight years.… Continue reading Nepal’s electricity production capacity hits 3,157 MW

Kathmandu: On Tuesday, the Nepal Stock Exchange (NEPSE) experienced a dramatic drop, plunging by a record 145.05 points. The daily turnover surged to a historic high of Rs 23.71 billion. The NEPSE imposed a negative circuit breaker on the share prices of 11 companies during intraday trading. Seven of these companies, including Nepal Finance, Gurkhas… Continue reading NEPSE plunges with record decline and turnover surge

Kathmandu: Nepal government and the World Bank today signed a financing agreement for a US$100 million concessional loan from the International Development Association (IDA) to help improve the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network. The Provincial and Local Roads… Continue reading Nepal govt and World Bank sign US$100 mn project to improve roads

Kathmandu: Stock markets across Europe and Asia tumbled on Monday, spooked by fears that the US economy is heading for a slowdown. In London, the FTSE 100 index opened 2.3% lower while the Euronext 100 tumbled by 3.5%. They followed sharp falls across Asia with Japan’s Nikkei 225 dropping 12.4% or 4,451 points in the… Continue reading Global stock markets sink on US economy fears

Kathmandu: Today, the price of fine gold has soared to an unprecedented level, setting a new record in the market. According to the Federation of Nepal Gold and Silver Dealers’ Associations (FENEGOSIDA), the price of fine gold surged to Rs 150,000 per tola on Monday, marking a significant increase of Rs 300 from the previous… Continue reading Gold prices surge to all-time high

Kathmandu: Flood Forecasting Division has issued a flood warning for 19 districts, including Kathmandu, due to anticipated increases in river levels. The districts affected by this alert are Ilam, Jhapa, Taplejung, Sankhuwasabha, Ramechhap, Dolakha, Sindhupalchowk, Sindhuli, Kavrepalanchowk, Kathmandu, Lalitpur, Bhaktapur, Makwanpur, Gorkha, Lamjung, Kaski, Myagdi, Darchula, and Bajhang. Residents in these areas are urged to… Continue reading Flood alert issued for 19 districts, including Kathmandu

Kathmandu: Nepali government is set to introduce a non-collateral loan system aimed at shielding migrant workers from high-interest rates. This move follows a recent announcement by the Nepal Rastra Bank (NRB), which has included provisions for non-collateral loans in its latest monetary policy. The Ministry of Labor, Employment, and Social Security (MoLESS) is spearheading the… Continue reading Nepal to introduce non-collateral loan system for migrant workers

Kathmandu: Nepal experienced a decline in foreign tourist arrivals in July, with 64,599 tourists arriving by air, according to the Nepal Tourism Board. This figure represents an 11.91 percent increase compared to the same month last year but shows a notable decrease from June’s total of 76,736 visitors. The decline is attributed to the off-season… Continue reading Foreign tourist arrivals in Nepal drop in July