Category: Finance

Kathmandu: The scheduled release of the monetary policy by the Nepal Rastra Bank (NRB) has been postponed, according to sources familiar with the matter. Originally slated for today, the unveiling of the policy has been delayed due to recent government developments, including the appointment of Dr Yubaraj Khatiwada as the Economic Adviser to Prime Minister… Continue reading NRB postpones Monetary Policy release amidst government updates

Kathmandu: Tensions escalated today in Kathmandu’s New Road area as local residents vehemently opposed ongoing footpath expansion efforts. The situation has prompted a heavy deployment of Nepal Police, KMC Police, and additional security forces to maintain order. The protests, which began early Thursday morning, have seen confrontations between demonstrators and metropolitan police forces. The KMC… Continue reading Protests in Kathmandu’s New Road over footpath expansion

Kathmandu: Ambica Shrestha, the visionary behind Dwarika’s Hotel in Battisputali, Kathmandu, has died at the age of 92. She passed away at Mediciti Hospital in Lalitpur following a two-month battle with pneumonia and rheumatism, as confirmed by her family. Ambica Shrestha dedicated her life to realizing the aspirations of her late husband, Dwarika Das Shrestha,… Continue reading Ambica Shrestha, founder of Dwarika’s Hotel, passes away at 92

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