Category: Finance

Kathmandu: The Nepal Electricity Authority (NEA) has initiated extended load shedding of more than 12 hours across industries nationwide. Following the halt in electricity imports from the open market in India during nighttime since April 1, the NEA has decided to increase load shedding for industries by more than 12 hours. In some areas, load… Continue reading NEA initiates extended load shedding across industries nationwide

Kathmandu: In a joint press conference held today at the Nepal Mountaineering Association (NMA), Nepal Tourism Board, and Jugal Rural Municipality, organizers announced the full preparedness for the upcoming Jugal-I and II expedition, part of the Nepal-Korea Friendship Expedition 2024. During the conference, it was revealed that ten Korean climbers are set to arrive in… Continue reading Nepal-Korea friendship expedition 2024: climbers ready for Jugal-I and II ascent

Kathmandu: In a bid to boost tourism and economic activity, the government has enforced new guidelines allowing businesses in Thamel and Durbar Marg areas to operate round the clock. According to the District Administration Office (DAO) Kathmandu, entertainment-related businesses seeking to extend their operating hours past 10 pm must install soundproof systems and maintain personal… Continue reading Nepal govt implements round-the-clock business operations in Thamel and Durbar Marg area

Kathmandu: In a significant development, the Commission for the Investigation of Abuse of Authority (CIAA) has taken legal action against 32 individuals, including former Minister for Tourism, Culture, and Civil Aviation, Jeevan Bahadur Shahi, and Sugat Ratna Kansakar, the former Managing Director of Nepal Airline Corporation (NAC). The case revolves around alleged corruption in the… Continue reading Corruption allegations rock Nepal’s aviation sector: CIAA files case against former minister and NAC officials

Kathmandu: Nepal Tourism Board’s latest report reveals a surge in foreign tourist arrivals, with March witnessing a remarkable increase of 28.9% compared to the same period last year. A total of 128,167 foreign tourists explored the diverse landscapes and cultural treasures of Nepal during the month. The influx of visitors was predominantly led by neighboring… Continue reading Nepal tourism soars: March sees 28.9% increase in tourist number

Kathmandu: Nepal’s economy is expected to grow by 3.3% in FY24, driven by revived tourism and a pickup in hydropower exports. On the demand side, private consumption will drive growth, supported by a substantial increase in remittance inflows, according to the World Bank’s twice-a-year country development update. The latest Nepal Development Update, Nepal’s Economy on… Continue reading Nepal’s growth rebounds amidst low private investment: World Bank

Kathmandu: Allegations of corruption have surfaced against traders, including businessman Vishal Pandit, and a company regarding the procurement of medical equipment for COVID-19 treatment. The allegations have prompted an investigation by the Commission for the Investigation of Abuse of Authority (CIAA), with specific charges filed against government officials and medical professionals at a special court… Continue reading Probe launched into COVID equipment procurement corruption

Kathmandu: The Ministry of Finance has formed a Budget Drafting Committee in preparation for the upcoming fiscal year 2024/25. The Ministry’s secretariat has informed that the committee’s formation for the fiscal year ahead has been finalized. Under the coordination of Joint Secretary Dhani Ram Sharma, the Budget Drafting Committee has been established to prepare the… Continue reading Budget drafting committee formed ahead of fiscal year 2024/25

Kathmandu: The domestic gold market witnessed a remarkable surge in prices on Friday, as gold climbed by Rs 2,100 per tola, reaching an all-time high. Similarly, silver prices also saw an increase, rising by Rs 15 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded… Continue reading Gold prices surge, setting new record in Nepali market

Kathmandu: To expedite Belt and Road Initiative (BRI) projects, Nepal and China have agreed to swiftly finalize the BRI Implementation Plan, aiming to accelerate the progress of infrastructure undertakings. The decision was reached during a high-level delegation meeting held between Deputy Prime Minister and Foreign Minister Narayan Kaji Shrestha and his Chinese counterpart Wang Yi… Continue reading Nepal and China commit to Fast-Track Belt and Road Initiative implementation