Category: Finance

Kathmandu: The government is preparing to operate the national flag-carrier Nepal Airlines Corporation (NAC) under management contract.  Minister for Culture, Tourism and Civil Aviation Sudan Kirati said that processes have been advanced for the management contract of the NAC for its restructuring.  At a meeting of the International Relations and Tourism Committee of the House… Continue reading Nepal govt explores management contract to restructure NAC

Kathmandu: The Nepal Electricity Authority (NEA) disconnected power lines to various industries on December 19, causing a 22-day disruption in operations and leading to significant financial losses for the government and industrialists. The government formed an inquiry committee to investigate the tariff dispute, and on January 8, instructed the NEA to temporarily reconnect the power… Continue reading Nepal faces substantial financial losses amid power cut to industries

Kathmandu: Shopkeepers in the New Road area have staged a protest by closing the shutters of their shops after the Kathmandu Metropolitan City (KMC) implemented a ban on parking on the streets in the New Road area. The businessmen argue that the restriction on parking will discourage customers from visiting their shops. KMC, in its… Continue reading Businesses in New Road area protest against parking ban

Kathmandu: The International Finance Corporation (IFC), a member of the World Bank Group, has named Imad N. Fakhoury as the Regional Director for South Asia. Based in New Delhi, Fakhoury will lead IFC’s strategy and operations in the region, strengthening ties with the private sector, governments, and regional partners to enhance development outcomes. Riccardo Puliti,… Continue reading IFC Appoints Imad N. Fakhoury as Regional Director for South Asia

Kathmandu: The renowned five-star Hotel Annapurna, situated in Durbarmarg, is set to reopen after nearly four years of closure due to the COVID-19 pandemic. The hotel, which halted its operations during the pandemic, is currently in the midst of preparations, including staff recruitment, to resume services. The exact date for resuming operations is yet to… Continue reading Hotel Annapurna in Durbarmarg prepares for reopening after four-year closure

Kathmandu: In a recent investigation by the Department of Customs, it has been revealed that the government has been unable to effectively control gold smuggling, especially when the smugglers operate cunningly. Today, during the department’s examination, Director-General Shobhakant Paudel acknowledged that despite the government employing various methods and techniques to control smuggling, it remains a… Continue reading Govt struggles to curb gold smuggling, challenges in control despite various measures

Kathmandu: The eagerly awaited sixth edition of the Nepal Agritech International Exhibition is poised to commence at Bhrikuti Mandap, Kathmandu, on January 26. Organized by Media Space Solutions Pvt Ltd in collaboration with Futurex Trade Fair and Events Pvt Ltd and ETSIPL, the three-day event aims to revolutionize Nepal’s agricultural landscape. Scheduled to conclude on… Continue reading 6th Nepal Agritech International Exhibition set to kick off from Jan 26

Kathmandu: The scheduled Employment Permit System (EPS) language test, crucial for individuals applying to work in Korea’s manufacturing sector, has been postponed due to technical glitches in the online system. The test, initially slated for January 20, will now be delayed, with an official notice regarding the new exam schedule expected to be issued on… Continue reading EPS language test for Korean manufacturing jobs faces delay due to technical issues

Kathmandu: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”. The event was attended by representatives from the Ministry of Finance, the Public Debt Management Office, the Financial Comptroller General Office, Nepal Rastra Bank, Nepal Bankers’ Association, Nepal Insurance Authority, Confederation… Continue reading Nepal: World Bank hosts event on hedging strategies for managing risks, sustainable finance

Kathmandu: Bhutan’s prominent airline company, Druk Air, is set to elevate its services with the introduction of chartered flights on the Paro-Pokhara-Delhi route, commencing from March of the upcoming year. Currently operating commercial flights on the Paro-Kathmandu-Delhi route, Druk Air aims to enhance its connectivity by incorporating Pokhara as a new destination. Official communication from… Continue reading Druk Air introduces chartered flights on Paro-Pokhara-Delhi route