Kathmandu: In this year’s Tihar festival, the flower trade reached a total turnover of Rs. 240 million, as reported by Floriculture Association Nepal (FAN). Although the flower production was good, prices were lower compared to last year, resulting in a decrease of Rs. 2 crores from the previous year’s turnover of Rs. 26 crores. The… Continue reading Tihar flower trade: Rs. 240 mn turnover, Rs. 7 Crores less than last year
Category: Finance
Govt recognizes major contributors to tax revenue
Kathmandu: The government has honored the outstanding taxpayers. Finance Minister Dr Prakash Sharan Mahat today honored the ‘best taxpayers’ from various sectors at the closing ceremony of the Tax Week organized on the occasion of the National Tax Day, 2080. The Nepal Telecommunications Company (Nepal Telecom) has been honored for being the biggest taxpayer in… Continue reading Govt recognizes major contributors to tax revenue
TIA to resume duty free shop
Kathmandu: Tribhuvan International Airport (TIA) in Kathmandu is set to reintroduce a ‘Duty Free Shop’ within its premises. The TIA Office has initiated the bidding process for this tax-free shop, which is planned to be situated in the international terminal building. The designated locations include the first floor of the departure side and proximity to… Continue reading TIA to resume duty free shop
US dollar hits record high against Nepali currency, impacting economy
Kathmandu: In a surprising turn of events, the US Dollar has surged to unprecedented levels against the Nepali rupee, setting a new record high, as reported by the Nepal Rastra Bank (NRB). According to the latest data released by NRB on Wednesday, the buying rate for the US dollar has reached an all-time high of… Continue reading US dollar hits record high against Nepali currency, impacting economy
Nepal Telecommunication Authority forms committee to monitor TikTok ban implementation
Kathmandu: In response to the government’s decision to ban TikTok in Nepal, the Nepal Telecommunication Authority (NTA) has established a technical committee led by Director Bijay Kumar Rai to ensure the effective implementation of the ban. The committee, formed during an NTA meeting on Friday, comprises four members, including Sudhir Parajuli, President of the Internet… Continue reading Nepal Telecommunication Authority forms committee to monitor TikTok ban implementation
Nepal witnesses surge in coffee exports amidst rising import costs
Kathmandu: Nepal experienced a nominal increase in earnings from coffee exports during the last fiscal year, contrasting with a substantial rise in import expenses. The surge in export revenue can be attributed to a modest uptick in production volume, while a significant surge in domestic demand led to a notable increase in import costs. Records… Continue reading Nepal witnesses surge in coffee exports amidst rising import costs
Nepal-China border at Korala set to reopen after four years
Kathmandu: In a noteworthy development, a temporary shelter structure for security personnel has been erected on the Nepal side of the Korala border in Lo Manthang Rural Municipality of Mustang, poised for re-operation after a hiatus of four years. Under the guidance of Lomanthang People’s Representative and Armed Border Out Post (BOP), China has constructed… Continue reading Nepal-China border at Korala set to reopen after four years
Fast Track achieves 27.19 percent physical progress
Kathmandu: Terai Fast Track has achieved 27.19 per cent physical progress and 29.32 per cent financial progress amidst various obstacles and challenges. The national pride project is being implemented by the Nepali Army (NA). Once the four-lane express way completes, the southern plains can be reached within 2 hours 2 minutes from the Kathmandu Valley.… Continue reading Fast Track achieves 27.19 percent physical progress
Robust growth in remittances: inflows surge by 30.0% to Rs.365.34 bn
Kathmandu: Nepal experiences a substantial increase of 30.0% in remittance inflows, reaching Rs.365.34 billion in the current review period, in contrast to a 16.8% rise in the corresponding period of the previous year. In US Dollar terms, remittances see a notable 25.9% increase, totaling $2.76 billion, compared to the previous year’s 7.9% growth. During the… Continue reading Robust growth in remittances: inflows surge by 30.0% to Rs.365.34 bn
Nepal and development partners unite to advance green, resilient, and inclusive development with strategic action plan
Kathmandu: The Government of Nepal and 16 development partners agreed to consolidate and scale up financing and technical assistance to support Nepal to implement a set of high-priority investments and policies in line with Nepal’s Green, Resilient, and Inclusive Development (GRID). A joint communique to operationalize Nepal’s GRID Strategic Action Plan was endorsed at a… Continue reading Nepal and development partners unite to advance green, resilient, and inclusive development with strategic action plan