Category: Finance

Kathmandu: The US dollar surged to an all-time high against the Nepali rupee, reaching Rs 140.43 on Friday, according to Nepal Rastra Bank (NRB). Some money exchangers offered rates exceeding Rs 141. This new peak surpasses the previous record of Rs 139.80 set on Tuesday. By Thursday, the exchange rate had already climbed to Rs… Continue reading US Dollar hits record high of Rs 140.43 against Nepali Rupee

Kathmandu: The Embassy of Nepal in Muscat has officially begun issuing labor permits to Nepali workers legally employed in Oman who had not previously obtained one from Nepal. This initiative, the first of its kind abroad, was launched on January 31, 2025, in Salalah, Oman. Nepali workers currently employed in Oman without prior labor approval… Continue reading Nepali Embassy in Muscat begins issuing labor permits for Nepali workers in Oman

Kathmandu: The government has decided to set up the country’s first consumer court, a move long envisioned by the Consumer Protection Act, which was endorsed six years ago. A Cabinet meeting on Monday approved the establishment of the first judicial body of its kind. Initially, the consumer court will operate in the Kathmandu Valley to… Continue reading Nepal govt to establish Nepal’s first Consumer Court

Kathmandu: The government has introduced the Air Service Authority of Nepal (ASAN) Bill, which seeks to designate key responsibilities, previously held by the Civil Aviation Authority of Nepal (CAAN), to a newly established aviation authority. The proposed changes aim to streamline operations, enhance safety, and modernize Nepal’s air services. Under the ASAN Bill, the new… Continue reading Nepal govt reopens discussion to split CAAN

Kathmandu: Pokhara has started receiving electricity through an underground distribution system, marking a significant milestone in modernizing the city’s power infrastructure. The Nepal Electricity Authority (NEA) has begun supplying power through the system under the Pokhara–Bharatpur Distribution System Strengthening Project, improving reliability and enhancing the city’s visual appeal. In the first phase, the underground network… Continue reading NEA begins underground electricity supply in Pokhara

Kathmandu: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel acknowledged challenges in meeting the revenue target for the current fiscal year despite some improvement over the previous year. Speaking at an event organized by the Department of Customs on International Customs Day, he urged customs and tax administration to enhance efficiency under growing pressure… Continue reading Finance Minister calls for efficiency in customs to meet revenue targets

Kathmandu: The Rupandehi District Court on Sunday granted bail to Rastriya Swatantra Party Chairman Rabi Lamichhane in the Supreme Cooperative fraud case. A single bench led by Judge Pralhad Kumar Yogi issued the order after days of closed-door hearings, court magistrate Kumar Khatiwada confirmed. Lamichhane, a former home minister, has now paid a cumulative bail… Continue reading Rabi Lamichhane receives bail with Rs 10 mn in fraud case

Kathmandu: Nepal will increase Mount Everest climbing permit fees starting September, marking the first hike in nearly ten years. During the peak climbing season (April-May), permits will cost $15,000, up 36% from the current $11,000. Off-season permits will also see similar increases, rising to $7,500 for September-November and $3,750 for December-February. Mountaineering and trekking contribute… Continue reading Nepal to raise permit fees for Mt Everest expedition

Kathmandu: The government borrowed Rs 240.08 billion in the first five months of the current fiscal year, grappling with mounting recurrent expenditures and sluggish revenue collection. Data from the Public Debt Management Office (PDMO) reveals that between mid-July and mid-December, the government raised Rs 181.05 billion through domestic borrowing and Rs 59.03 billion via external… Continue reading Nepal govt borrows Rs 240 bn amid revenue shortfall and soaring expenditure

Kathmandu: After years of persistent lobbying, star hotels and tourism resorts in Nepal have been officially recognized as industries under a recent amendment to the Industrial Enterprises Act 2076. The government has reclassified these establishments into the national priority and productive industries category through an ordinance passed by the Cabinet, pending final approval from the… Continue reading Star hotels in Nepal recognized as industries