Category: Finance

Kathmandu: Fruits worth 750 million rupees have been imported for the Tihar festival. Fruit traders have brought apples, bananas, oranges, coconuts and other fruits to the valley from across the country and abroad for Tihar. According to the Nepal Fruit Wholesale Association during Tihar, the consumption of mainly fruits; apples, oranges, bananas and coconuts is… Continue reading Fruits worth 750 mn rupees imported for Tihar festival

Kathmandu: Despite government ban, flower import from India continues during this Tihar festival. According to the Flouriculture Association Nepal (FAN), a total of 2.4 mn flower garlands have been consumed during this festival.Among the total consumed flower 1.7 mn was produced in the country while remaining flowers were imported from India. The actual statistics of… Continue reading Despite govt ban, flower import from India continues

Kathmandu: Nepal Electricity Authority (NEA) has exported electricity to India even during the evening of Lakshmi Puja (A festival when the country consumes maximum electricity). As the excess electricity in Nepal started to be sold in the Indian market, for the first time this year, the authority exported electricity to India even on the evening… Continue reading Nepal export 380 MW electricity even during the peak hour of festive season

Kathmandu: Hotel, restaurant and bar operators will no longer be able to add service charge and VAT amount to the menu. The Department of Commerce, Supply and Consumer Protection has warned hoteliers not to charge extra money from consumers except as mentioned in the menu. The department issued a press release on Thursday and alerted… Continue reading Govt prohibits hotels and restaurants to levy service charge to customers

Kathmandu: The government has prohibited the import of flowers from India during Tihar. During Tihar, especially in urban areas, about 85 percent of the demand for marigold flowers is met by domestic production, but 15 percent of marigold flowers are imported, the government has banned the import of marigold flowers this year, according to the… Continue reading Govt prohibits flower import from India during Tihar festival

Kathmandu: Nepal Oil Corporation (NOC) has again refused adjusting the price of petroleum products. Even though the new prices are coming from India regularly, the corporation has not adjusted the prices by showing the old losses. As a result, the consumer has been hit by high prices. Despite the increase in the price of some… Continue reading NOC not in mood to reduce fuel price despite having profit

Kathmandu: Hoteliers have demanded to reduce the bank’s interest rate to a single point. On Sunday, Hotel Association of Nepal (HAN) issued a statement and said that if the bank does not reduce the interest rate to a single point, there will be a risk of many hotels being closed. They said that although the… Continue reading Hoteliers demands to cut off bank’s interest rate

Kathmandu: The Ministry of Labour, Employment and Social Security has prepared a draft of protocol regarding the selection, posting and service facilities of Nepalese health workers. This draft protocol will be approved by the cabinet to send the nurses to the UK. It was agreed between Nepal and Britain to make a clear arrangement about… Continue reading Govt preparing protocols to send nurses to UK

Kathmandu: Nepal’s economy is expected to grow at a rate of 5.1 percent in the fiscal year 2022/23 and 4.9 percent in the fiscal year 2023/24, reflecting monetary policy normalization, the end of pandemic-era monetary support measures, and still relatively high commodity prices according to the World Bank in its latest macroeconomic update. As stated… Continue reading Nepal’s economy expected to grow at a rate of 5.1 percent; World Bank