Category: Finance

Kathmandu: Stakeholders related to agriculture sector have said that the government’s decision to attract foreign direct investment in Nepal’s agricultural sector is wrong. The Dairy Industry Association, Nepal Dairy Association among other orgnizations held a joint press conference in Kathmandu on Tuesday and said that the government’s decision to bring foreign investment in agriculture sector… Continue reading Stakeholders ask to withdraw FDI in agro sector

Kathmandu: A grant of Rs 3.45 billion has been allocated for the Prime Minister’s Employment Program this year. According to the decision of the Council of Ministers of the Government of Nepal on January 15, conditional grant of Rs. 3.44 billion has been provided to 688 municipalities across the country for the fiscal year 2020/2021,… Continue reading PM Employment Program: Nearly Rs. 3.45 billion grant to 688 municipalities

NEW YORK (Reuters): The year 2020 was a wild one for Wall Street, bookended by the end of the longest bull market in history with the battering of equities by the COVID-19 shutdowns, and a bungee-cord rebound on hopes for economic recovery that resulted in the shortest bear market on record. After closing at a… Continue reading U.S. stocks in 2020: A year for the history books, in charts

Kathmandu: Nepal Oil Corporation (NOC) has saved Rs 1.5 billion from the Motihari-Amalekhgunj Petroleum Pipeline, which has been in operation since last year. According to the annual financial report of the last fiscal year 2019/2020 made public by the corporation, Rs. 1.47 billion has been saved for transportation in the 10 months from August 2019… Continue reading One and a half billion savings from Motihari-Amalekhgunj Petroleum Pipeline

Kathmandu: Nepal’s aviation industry has lost more than Rs 17 billion in revenue due to the covid-19 pandemic. According to the data made public by the Civil Aviation Authority of Nepal (CAAN), the biggest impact of the Covid 19 has been on the national flag carrier Nepal Airlines. The Nepal Airlines Corporation has lost about… Continue reading Aviation industry lost Rs 17 bn due to covid-19 pandemic

NEW YORK (Reuters): U.S. gasoline prices hit a nine-month peak as drivers took to the roads on holiday travel, crude oil prices kept climbing and refiners further cut fuel production due to weak margins. Prices at the pump topped $2.25 a gallon this week, according to the American Automobile Association, the highest since March when… Continue reading U.S. gasoline prices reach 9-month high as refiners cut more output

Kathmandu: The bank account of the ruling Communist Party of Nepal (CPN) is likely to be blocked. After the internal dispute, only the formal announcement of partition is left to be made. Until the dispute of the CPN is resolved, all the bank accounts will be blocked. According to the Nepal Rastra Bank both the… Continue reading CPN bank accounts to get blocked

Kathmandu: Inflation has risen in Nepal as the northern border with China has been closed. Prices of fruits, clothes and other machinery have skyrocketed. China has long closed the border, citing the risk of the corona virus. This checkpoint, which is rarely open for fetching health supplies, has occasionally been flooded with other supplies. But… Continue reading Chinese border restriction makes Nepali market expensive

Kathmandu: Governor of Nepal Rastra Bank (NRB) Maha Prasad Adhikari has said that the obligation to carry cash to buy vegetables will be removed very soon.Addressing the general assembly of the Nepal Bankers Association, an association of CEOs of commercial banks, Governor Adhikari announced to remove the obligation of carrying cash by encouraging cashless transactions.… Continue reading Nepal Rastra Bank to promote digital transaction

NEW YORK (Reuters): Outsized bets on large U.S. technology companies and emerging cryptocurrencies fueled the year’s top-performing U.S. mutual fund and exchange-traded funds as the coronavirus pandemic upended global markets, while funds that bet on oil and gas companies fell nearly 100%, according to data from fund-tracker Morningstar. The year was a challenge like few… Continue reading Big tech bets and cryptocurrencies power 2020’s top U.S. funds