Category: Finance

Kathmandu: The World Bank and Ministry of Finance convened a high-level roundtable meeting today on investment priorities and enabling policies to operationalize Nepal’s vision for Green, Resilient, and Inclusive Development (GRID). Leaders from Government and development partners, as well as representatives from civil society, the private sector, youth groups, and think tanks participated in the… Continue reading Nepal govt and stakeholders convene to discuss actions and investment priorities for inclusive development

Kathmandu: The Foreign Employment Board is going to provide free skill training for garment machine operators from the first week of next month to women who are preparing to go for foreign employment. In issuing a notice on Thursday, the board has called upon interested women who have made passports or who have submitted revenue… Continue reading Govt providing free garment machine operating training to 500 women

Kathmandu: Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to decelerate from 3.1% in 2022 to 2.1% in 2023. In EMDEs other than China,… Continue reading Global Economy on Precarious Footing Amid High Interest Rates: WB

Kathmandu: Nepal Rastra Bank (NRB) has started preparing the monetary policy for the next financial year 2023/24. After the government presented the budget for the next financial year to the Parliament, the National Bank started preparation for the monetary policy. The NRB has also asked for suggestions from the stakeholders. The monetary policy formulation procedure… Continue reading NRB asks stakeholder’s suggestions for monetary policy

Kathmandu: Minister of Industry, Commerce and Supply Ramesh Rizal has requested the Italian government to increase investment in areas that have high returns in Nepal. In a courtesy meeting with Italy’s non-resident ambassador, Vincenzo Di Luca, on Monday, Minister Rizal requested to increase and diversify investments in information technology, infrastructure development, service sector, hydropower, agriculture… Continue reading Industry Minister’s requests Italy to increase investment in Nepal

Kathmandu: The price of gold has set a new record today. The price of yellow bullion has reached 113,300 rupees per tola today which was 112,500 per tola on Thursday. It has been said that the gold price skyrocketed after the government raised the custom tax on gold imports. Announcing the budget for the fiscal… Continue reading Gold price sets a new record as govt hikes the custom tax

Kathmandu: Fonepay has signed a Memorandum of Understanding (MoU) with Sri Lanka’s NationalPayment Network: LankaPay, to collaborate on the strategic partnership to revolutionize thedigital payment landscape by developing an interoperable digital payment system thatenables users to transact seamlessly across the two countries. The MOU was signed by Diwas Kumar Sapkota, the CEO of Fonepay and… Continue reading Fonepay and LankaPay sign MOU for cross-border interoperable payment system

Kathmandu: The Government of Nepal and the World Bank today signed a financing agreement for a $120 million concessional loan from the International Development Association and a grant agreement for $19.7 million from the Global Partnership for Education for the School Sector Transformation Program (SSTP) Operation, which support the implementation of the government’s flagship School… Continue reading Nepal signs $120 mn concessional loan financing agreement and $19.7 mn grant agreement with World Bank

Kathmandu: The government has presented a budget of 1,751 billion rupees for the coming financial year. In the joint meeting of the Federal Parliament, Finance Minister Dr Prakasharan Mahat announced the budget of 1,751 billion rupees for the coming financial year 2023/24. To maintain prosperity and good governance, the budget will also be focused on… Continue reading Nepal govt allocates 1,751 bn rupees budget for FY 2023/24

Kathmandu: The policy and program for the financial year 2023/24 has been passed by a majority. The government’s policy and program presented by President Ramchandra Paudal in both houses of the Federal Parliament on May 19 was passed by the Parliament meeting held on Saturday. The draft of policy and program was passed by the… Continue reading House of Representatives passed govt’s policy and program by majority votes