Category: Finance

Kathmandu: In its latest ‘Global Economic Prospects’ report, the World Bank anticipates a favorable economic trajectory for Nepal, projecting a growth rate of 3.9 percent in the current fiscal year (FY) 2023/24. This forecast indicates a significant improvement from the 1.9 percent expansion observed in the previous fiscal year 2022/23.The World Bank further envisions a… Continue reading World Bank forecasts satisfactory growth for Nepali Economy in 2024, outpacing global average

Kathmandu: The Nepal Electricity Authority (NEA) has introduced a convenient five-year installment facility for the payment of electricity tariff dues related to dedicated and trunk line services. In a public notice released today, the NEA has invited relevant entities to submit applications for the installment plan at their respective NEA distribution centers within the next… Continue reading NEA introduces ‘Five-Year Installment Plan’ for electricity tariff dues

Kathmandu: Himalaya Airlines has successfully passed the rigorous international flight operations safety audit conducted by the International Air Transport Association (IATA). The audit was carried out under IATA’s operational safety audit program, granting the airline global safety management accreditation, a prestigious recognition set to be upheld until March 2025. IATA has officially registered Himalaya Airlines… Continue reading Himalaya Airlines becomes first Nepali airline to achieve top global safety recognition

Kathmandu: Nepal Rastra Bank (NRB) has launched a comprehensive plan to issue commemorative coins, representing all seven provinces. Valued at up to Rs 4,000 each, these coins are set to showcase symbolic elements from the religious, historical, cultural, and literary heritage of each province. NRB has confirmed the initiation of the coin issuance process, revealing… Continue reading NRB unveils a plan for province-specific commemorative coins valued up to Rs 4,000

Kathmandu: Public Procurement Monitoring Office (PPMO) under the Prime Minister and Council of Ministers has issued a notice to nine construction companies, demanding explanations within seven days following recommendations from various governmental bodies. The PPMO has cautioned that failure to provide satisfactory responses within the stipulated timeframe may result in the blacklisting of these companies.… Continue reading Public Procurement Monitoring Office issues warning to construction companies

Kathmandu: The third International Investment Summit, originally scheduled for May 9-10, is now set to be held on May 16-17 in Kathmandu. The decision to reschedule the summit was made due to various reasons, as announced by Tungo, the Chief Executive Officer (CEO) of the Investment Board, and Susheel Bhatta, the Secretary of the Investment… Continue reading 3rd International Investment Summit in Kathmandu rescheduled to May 16-17

Kathmandu: In response to the recent tragedy during a protest related to the Employment Permit System (EPS) language test, the Nepali government engaged in talks with South Korean Ambassador to Nepal, Park Tae-Young. The EPS allows Nepali nationals to work in Korea under a bilateral agreement. The meeting, held on Tuesday at the Ministry of… Continue reading Nepal and South Korea discuss criterias for EPS test

Kathmandu: The Public Accounts Committee of the Parliament has concluded that there were unlawful activities in the procurement process of the Telecommunication Traffic Monitoring and Fraud Control System (Teramox). In a meeting held at Singha Durbar today, the committee identified 15 irregularities in the Teramox procurement process and directed the Commission for the Investigation of… Continue reading Parliament’s Public Accounts Committee finds unlawful activities in Teramox procurement process

Kathmandu: Public debt liability of the Government of Nepal has witnessed an unprecedented surge, reaching a staggering Rs 2.3 trillion within a span of five and a half years. As of the fiscal year 2018/19, the combined internal and external debt stood at a relatively modest Rs 1.04 trillion. However, recent data indicates an alarming… Continue reading Nepal govt faces alarming surge in public debt

Kathmandu: In a significant move to support sugarcane farmers, the Ministry of Agriculture and Livestock Development has disbursed Rs 800 million in subsidies, out of the total earmarked amount of Rs 1.32 billion for the last Fiscal Year (FY) 2022/23. The disbursement, credited to farmers’ accounts in the current FY, aims to bolster agricultural businesses.… Continue reading Agriculture Ministry disburses Rs 800 mn subsidy to sugarcane farmers