Category: Finance

Kathmandu: Nepal Rastra Bank (NRB) has brought attention to the deteriorating quality of banks’ assets, raising significant concerns about the stability of banks and financial institutions (BFIs). The central bank’s latest ‘Financial Stability’ Report, unveiled on Wednesday, underscores various challenges currently impacting the financial sector. According to the report, the proliferation of high interest rates… Continue reading Financial stability concerns highlighted in NRB report

Kathmandu: Foreign Direct Investment (FDI) in Nepal has reached unprecedented levels, marking a significant milestone in the economic landscape of the country. As of mid-June, the current fiscal year (FY) 2023/24 has witnessed FDI inflows soar to Rs 44.40 billion, reflecting a substantial increase of Rs 10.82 billion compared to the same period last year.… Continue reading Nepal sees surge in FDI, approaching Rs 500 bn milestone

Kathmandu: David Sislen is the World Bank’s new Country Director for Maldives, Nepal, and Sri Lanka, effective July 1, 2024. Sislen succeeds Faris Hadad-Zervos, who will be taking on a new World Bank assignment. Sislen, a dual national of the US and Italy, joined the Bank in 2001 as an Economist in the Urban Cluster… Continue reading World Bank announces new country director for Maldives, Nepal, and Sri Lanka

Kathmandu: The World Bank’s Senior Managing Director, Axel van Trotsenburg arrived in Kathmandu today on his first official visit to Nepal, to meet with government and other stakeholders and chair the Third Replenishment Meeting of the World Bank’s fund for low-income countries, the International Development Association (IDA). As part of his five-day visit, on June… Continue reading World Bank Senior Managing Director to visit Nepal

Kathmandu: Four individuals, including the Chairman of the Agriculture Development Multipurpose Cooperative located in Kumaripati, Lalitpur, have been apprehended on allegations of embezzling a staggering Rs 942.3 million. The Kathmandu Valley Crime Investigation Office disclosed the arrests on Sunday, publicly identifying Tej Bikram Thapa as the primary suspect implicated in the embezzlement scandal. Thapa serves… Continue reading Massive embezzlement scandal unveiled: 4 arrested in Agriculture Development Multipurpose Cooperative case

Kathmandu: The Nepal Electricity Authority (NEA) has introduced a high-tech data center in Syuchatar, Kathmandu, aligning with global standards and reshaping service provision. This advanced facility, adjacent to the load dispatch center, signifies a significant leap in NEA’s digital capabilities. Comprising a three-story structure, the center’s ground level monitors Kathmandu Valley’s underground power distribution network,… Continue reading NEA inaugurates data center to transform service delivery

Kathmandu: The y-o-y consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago. Food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month. Under the Food and Beverage Category, y-o-y price index of vegetable sub-… Continue reading Inflation remains at 4.40 percent in Nepal

Kathmandu: Nepal is preparing to host the 21st International Development Association (IDA) meeting, a significant milestone in the nation’s engagement with global economic development initiatives. Scheduled to take place in Kathmandu from June 18 to 21, this meeting marks the largest program under the World Bank Group. Prime Minister Pushpa Kamal Dahal will inaugurate the… Continue reading Nepal to host 21st International Development Association meeting

Kathmandu: The domestic gold market witnessed a remarkable surge on Thursday, with prices soaring by Rs 1,800 per tola, setting a new record. This surge comes on the heels of a steady upward trajectory observed since the announcement of the fiscal year 2080/81 budget, which included a 5% increase in customs duty on gold imports.… Continue reading Gold prices surge to new high in domestic market

Kathmandu: In a fervent display of dissent, gold and silver traders have taken to the streets, vehemently protesting against the recent surge in customs duties and quotas imposed by the Nepal Rastra Bank (NRB) on gold imports. Led by a coalition of gold and silver traders along with a committee representing goldsmiths, a sizable gathering… Continue reading Gold and silver traders rally against increased tax