Category: Finance

Kathmandu: Bishal Shrestha and Shanti Shrestha from Ward 14 of Kathmandu Metropolitan City, who had promised to send an individual to the United States for employment, have been arrested for allegedly committing fraud amounting to 1.5 million rupees. Chandrabahadur Rawal, who intended to travel to the United States for employment, claimed that Vishal and Shanti… Continue reading Two held for deceiving individual with fake U.S. Job Offer, swindling 1.5 Million Rupees

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) has initiated legal proceedings against nine individuals, including the former deputy mayor and chief administrative officer of Ramdhuni Municipality in Sunsari district. The charges pertain to financial irregularities in connection with a road construction project payment. Among those accused are Sani Kumari Chaudhary, the… Continue reading CIAA takes legal action against 9 individuals over alleged financial irregularities

Kathmandu: In a proactive move to attract foreign direct investment (FDI) and showcase Nepal as a lucrative investment destination, the government has announced the upcoming Investment Summit scheduled to take place on April 21-22, 2024. To ensure the success of the summit, a preparatory committee has been established, with Finance Minister Dr. Prakash Sharan Mahat… Continue reading Nepal to host ‘Investment Summit’ to foster foreign direct investment

Kathmandu: As of mid-November in the current fiscal year (FY 2023-24), Nepal has recorded a trade deficit exceeding Rs 460 billion, according to data released by the Department of Customs.The figures reveal a trade deficit of Rs 461.93 billion, with the country’s foreign trade volume reaching over Rs 563 billion and import volume exceeding Rs… Continue reading Nepal’s trade deficit surpasses Rs 460 billion in first four months of FY 2023-24

Kathmandu: In this year’s Tihar festival, the flower trade reached a total turnover of Rs. 240 million, as reported by Floriculture Association Nepal (FAN). Although the flower production was good, prices were lower compared to last year, resulting in a decrease of Rs. 2 crores from the previous year’s turnover of Rs. 26 crores. The… Continue reading Tihar flower trade: Rs. 240 mn turnover, Rs. 7 Crores less than last year

Kathmandu: The government has honored the outstanding taxpayers. Finance Minister Dr Prakash Sharan Mahat today honored the ‘best taxpayers’ from various sectors at the closing ceremony of the Tax Week organized on the occasion of the National Tax Day, 2080. The Nepal Telecommunications Company (Nepal Telecom) has been honored for being the biggest taxpayer in… Continue reading Govt recognizes major contributors to tax revenue

Kathmandu: Tribhuvan International Airport (TIA) in Kathmandu is set to reintroduce a ‘Duty Free Shop’ within its premises. The TIA Office has initiated the bidding process for this tax-free shop, which is planned to be situated in the international terminal building. The designated locations include the first floor of the departure side and proximity to… Continue reading TIA to resume duty free shop

Kathmandu: In a surprising turn of events, the US Dollar has surged to unprecedented levels against the Nepali rupee, setting a new record high, as reported by the Nepal Rastra Bank (NRB). According to the latest data released by NRB on Wednesday, the buying rate for the US dollar has reached an all-time high of… Continue reading US dollar hits record high against Nepali currency, impacting economy

Kathmandu: Nepal experienced a nominal increase in earnings from coffee exports during the last fiscal year, contrasting with a substantial rise in import expenses. The surge in export revenue can be attributed to a modest uptick in production volume, while a significant surge in domestic demand led to a notable increase in import costs. Records… Continue reading Nepal witnesses surge in coffee exports amidst rising import costs