Category: Finance

Kathmandu: The upcoming Third Investment Summit, set to unfold in Kathmandu on April 28 and 29, has unveiled its two-day agenda, promising a rich array of discussions and presentations. According to the Investment Board, the first day will feature two special sessions alongside the inaugural session, focusing on “Exploring Investment Opportunities in Nepal” and “Success… Continue reading 3rd Investment Summit to take place on April 28-29 in Kathmandu

Kathmandu: For Nepalis living in Romania, Esewa, in collaboration with Smith and Smith, has unveiled a lucrative offer aimed at enhancing the money transfer experience. The partnership aims to streamline remittance services from Romania to Nepal, offering enticing rewards for customers. Effective from April 13 until July 15, customers utilizing Smith and Smith’s services to… Continue reading Esewa teams up with Smith and Smith to ease remittance service in Romania

Kathmandu: In a significant move aimed at bolstering its logistical capabilities, e-commerce behemoth Daraz is poised to lease over 10 acres of land in the Kathmandu Valley. The land lease, spanning a period of 10 years, is intended to facilitate the construction of essential infrastructure to support the company’s operations. Daraz has outlined specific requirements… Continue reading Daraz to lease 10 acres of land in Kathmandu Valley for logistics infrastructure

Kathmandu: In a brewing crisis for Nepal’s honey industry, local producers are grappling with dwindling sales and the looming threat of leaving the sector altogether. The root cause of this distress lies in the dominance of Indian honey in the Nepali market, leaving indigenous honey largely unsold. Expressing their grievances, farmers are pointing to the… Continue reading Nepali honey industry in crisis as local producers struggle to compete with Indian imports

Kathmandu: In its latest Asian Development Outlook (ADO) for April 2024, the Asian Development Bank (ADB) has projected a growth rate of 3.6% for Nepal’s economy at market prices in the year 2024. This marks a significant increase from the estimated growth of 1.9% in fiscal year 2023. ADB Country Director for Nepal, Arnaud Cauchois,… Continue reading ADB projects Nepal’s economy to grow by 3.6% in 2024

Kathmandu: Ministry of Foreign Affairs (MoFA) has issued a directive to the Non-Resident Nepali Association (NRNA), urging them to refrain from engaging in non-routine activities. Following a landmark decision by the Supreme Court on April 3, the MoFA dispatched a letter on Wednesday, instructing the NRNA Secretariat to abstain from undertaking any tasks beyond regular… Continue reading Ministry of Foreign Affairs restricts NRNA activities

Kathmandu: In a recent development, Dr. Prakash Saran Mahat, spokesperson for the Nepali Congress and former finance minister, expressed apprehensions regarding the country’s economic trajectory. Speaking at the 58th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Dr. Mahat highlighted a significant decline in the revenue growth rate, dropping… Continue reading Former finance minister raises concerns over declining revenue growth rate

Kathmandu: Economists have raised concerns and called upon the government to adopt a pragmatic approach while formulating the budget for the upcoming fiscal year. During a ‘Pre-budget Discussion’ organized by the Management Association of Nepal, industry analysts emphasized the importance of avoiding an inflated budget and instead urged for realistic figures regarding revenue collection and… Continue reading Economists urge govt for realistic budget amidst fiscal planning

Kathmandu: Labor, Employment, and Social Security Minister DP Aryal unveiled a remarkable transformation in labor permit issuance, declaring that permits will now be granted within a mere hour of application. Speaking at a press conference on Sunday, Minister Aryal disclosed that labor permits will undergo swift processing, with approvals granted within the span of an… Continue reading Labor minister announces revolutionary change: labor permits to be issued within an hour

Kathmandu: In a public event on Friday, Finance Minister Barshaman Pun underscored the need for Nepal to focus on sectors aimed at creating employment and enhancing productivity, urging increased investment in collaboration with development partners. He noted Nepal’s favorable performance compared to other countries in South Asia but highlighted the pressing need for job creation… Continue reading Finance Minister calls for increased investment to boost employment and productivity in Nepal