Category: Finance

Kathmandu: In a significant stride towards sustainable agricultural development, the Ministry of Agriculture and Livestock Development of Nepal and the International Maize and Wheat Improvement Center (CIMMYT) sealed a historic Memorandum of Understanding (MoU) during a special event on Wednesday. The MoU, inked by Secretary Dr. Govinda Prasad Sharma and Director General Bram Govaerts of… Continue reading Government and CIMMYT forge 10-year partnership to transform Nepal’s agricultural landscape

Kathmandu: The World Bank and the Asian Development Bank (ADB) announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.A memorandum of understanding (MOU) stipulating cooperation between the two institutions for an initial period of five years was signed today on the sidelines of… Continue reading World Bank and Asian Development Bank join forces for sustainable development of Nepal’s hydropower sector

Kathmandu: In a significant development, the price of gold in the domestic market soared to a new record on Sunday, witnessing a remarkable surge of Rs 1,800 per tola. As of Sunday, fine gold is commanding a price of Rs 120,800 per tola, a noteworthy increase from Friday’s rate of Rs 119,000 per tola. The… Continue reading Gold prices skyrocket to historic high of Rs 120,800 per tola in Nepali market

Kathmandu: In line with a decision made on November 8, the Ministry of Finance has instructed the Nepal Electricity Authority (NEA) to take prompt action in settling outstanding dues related to electricity tariffs for street lamps owed by various local governments. The directive emphasizes the Finance Ministry’s commitment to addressing the issue of unpaid electricity… Continue reading Finance Ministry directs NEA to expedite clearance of street lamp electricity dues from local govt

Kathmandu: In a bid to safeguard over Rs 60 billion in private sector investments poured into hotels and tourism ventures around Gautam Buddha International Airport (GBIA) in Bhairahawa, Lumbini tourism entrepreneurs have called upon the government-owned Nepal Airlines Corporation (NAC) to initiate regular domestic and international flights. The Nepal Association of Tour and Travel Agents… Continue reading Tourism entrepreneurs from Lumbini urges govt to operate regular NAC flights at GBIA

Kathmadu: Governor Maha Prasad Adhikari of the Nepal Rastra Bank (NRB) has encouraged individuals to report instances of excessive interest charges by banks to the general public. Speaking at the 27th anniversary of the Society of Economic Journalists Nepal (SEJON), Governor Adhikari assured that the NRB would investigate and refund any excess amount if industrialists… Continue reading Governor urges public to report high bank interest charges

Kathmandu: As of mid-November in the Fiscal Year (FY) 2023/24, Nepal has witnessed a notable surge in public debt, accumulating over Rs 57.71 billion in the first quarter alone. This has propelled the total public debt to Rs 2.36 trillion, up from Rs 2.29 trillion recorded in mid-July, as reported by the Public Debt Management… Continue reading Nepal’s public debt surpasses Rs 2.36 trillion in FY 2023/24 Q1

Kathmandu: Himalaya Airlines has commenced direct flights from Kathmandu to Shanghai, China, marking a milestone in air connectivity between Nepal and one of China’s major cities. The airline’s inaugural flight, carrying 137 passengers, departed from Tribhuvan International Airport (TIA) at 9:20 AM and is scheduled to land in Shanghai at 9 PM today. The Kathmandu-Shanghai… Continue reading Himalaya Airlines inaugurates direct flights connecting Kathmandu to Shanghai

Kathmandu: The Nepal Quality Health Systems Program was jointly launched today by the Additional Health Secretary, Dr. Tanka Barakoti and World Bank Practice Manager for the Health, Nutrition and Population Global Practice, Feng Zhao. The Program aims to improve the readiness of the health system for delivery of quality healthcare, enhance coverage of health insurance,… Continue reading Nepal govt and World Bank launches $103.84 mn worth program to strengthen Nepal’s health system

Kathmandu: In a significant development, gold prices have reached unprecedented levels, touching Rs 117,700 per tola (11.6 grams) on Tuesday. The surge, as reported by the Federation of Nepal Gold and Silver Dealers Associations, is attributed to a remarkable increase in the international gold market, thereby setting a new record in the domestic market. Just… Continue reading Gold prices hit all-time high at Rs 117,700 per tola