Category: Finance

Kathmandu: A parliamentary special committee has recommended legal action against four key figures at Gorkha Media Network for their involvement in the misappropriation of Rs 650 million. The recommended individuals include Rastriya Swatantra Party (RSP) Chairman Rabi Lamichhane, who was formerly the managing director of the network, along with Gitendra Babu (GB) Rai, Kumar Ramtel,… Continue reading Parliamentary Committee recommends action against Rabi Lamichhane

Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized the need for a stable policy environment to foster private sector growth in Nepal. In a recent meeting with an International Monetary Fund (IMF) mission, Dhakal highlighted the importance of understanding Nepal’s unique economic and social characteristics when… Continue reading Nepali private sector urges for stable policies during IMF meeting

Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry’s (FNCCI) Agro Enterprise Centre (AEC), in collaboration with United States Agency for International Development (USAID) Nepal Seed and Fertiliser Programme, hosted a successful two-day National Workshop on the “Status, Opportunities, and Challenges of Agribusiness Micro, Small, and Medium Enterprises (MSMEs) inNepal” on September 10 and… Continue reading FNCCI and CIMMYT host National Workshop to Strengthen Agribusiness MSMEs in Nepal

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) has initiated a probe into a potential e-passport scam involving the French company IDEMIA. IDEMIA, which was contracted to print two million e-passports for Nepal, is under scrutiny for alleged financial mismanagement. The investigation focuses on discrepancies in the contract and production processes. IDEMIA… Continue reading CIAA launches investigation into alleged E-Passport scam with IDEMIA

Kathmandu: In a significant policy shift, the government has decided to lift the suspension on land plotting, following a recent Cabinet meeting. The decision was made based on a proposal from the Ministry of Land Management, Cooperatives, and Poverty Alleviation, allowing for land plotting to resume nationwide. Previously, out of 753 municipalities across the country,… Continue reading Govt resumes land plotting process across Nepal

Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has stated that the foundation for economic reforms is being laid in the country. Dhakal made this remark during a meeting with Imad Fakhoury, Regional Director for South Asia at the International Finance Corporation, at the FNCCI Secretariat on… Continue reading Foundation for economic reforms being laid: Dhakal

Kathmandu: In response to the excess liquidity in the banking system, the Nepal Rastra Bank (NRB) will undertake a significant liquidity absorption operation on Sunday. The central bank has announced plans to withdraw Rs 100 billion through a bidding instrument. The NRB’s move follows a previous operation on August 18, where it mopped Rs 100… Continue reading NRB to drain Rs 100 bn from excess liquidity

Kathmandu: Under newly passed legislation, individuals convicted of cheque bouncing may face imprisonment ranging from one month to two years. This development was confirmed during a recent meeting of the Finance Committee on the Banking Offenses and Punishment (Second Amendment) Bill, 2080. The committee detailed that the length of imprisonment will be contingent upon the… Continue reading New legislation imposes stricter penalties for cheque bouncing

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) is poised to enforce a ban on share trading activities within Singha Durbar, the seat of Nepal’s government, following multiple complaints about misuse of office time. The CIAA has decided to shut down the Trade Management System (TMS) used for share trading within the… Continue reading CIAA to ban share trading activities at Singha Durbar

Kathmandu: In the fiscal year 2023/24, significant measures were taken against 35 industrial institutions and employers found guilty of using child labor, a practice deemed illegal under current regulations. The Labor and Employment Office in Hetauda carried out a comprehensive monitoring operation, inspecting 95 industries to ensure compliance with labor laws. As a result, those… Continue reading Hetauda office cracks down on 35 industries for child labor violations