(BBC): Nigeria’s airlines are to stop domestic operations from Monday in protest at the spiralling cost of jet fuel. It has risen almost fourfold this year, which was unsustainable, the Airline Operators of Nigeria (AON) said. “No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a… Continue reading Nigerian airlines to halt domestic flights over jet fuel hikes
Category: Finance
World Bank to provide &23 mn for Nepal’s Youth employment project
Kathmandu: The World Bank has reallocated $23 million of the $120 million in the Youth Employment Transformation Initiative (YETI) project to scale up direct support to unemployed poor impacted by the COVID-19 pandemic. The financing is expected to help about 64,000 unemployed individuals, especially those who lost employment during the COVID-19 pandemic, receive temporary employment… Continue reading World Bank to provide &23 mn for Nepal’s Youth employment project
World Bank to provide $150 Million to strengthen Nepal’s financial sector
Kathmandu: The Government of Nepal and the World Bank signed a $150 million ‘Finance for Growth’ Development Policy Credit (DPC) today to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in Nepal. The agreement was signed by the Finance Secretary, Madhu Kumar Marasini, on behalf of the Government of Nepal,… Continue reading World Bank to provide $150 Million to strengthen Nepal’s financial sector
Buddha Air to resume flight on KTM-Banaras route
Kathmandu: Buddha air is all set to resume flights on the Kathmandu-Banaras route. Flights between Kathmandu and Banaras, two religious destinations closed due to the Corona epidemic, will resume on May 23. According to the company, Buddha air has set a date to operate this route twice a week. Buddha has announced the date for… Continue reading Buddha Air to resume flight on KTM-Banaras route
Pvt sector suggests govt to bring new Indian currency in operation
Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has suggested bringing Indian notes of IRs. 200, IRs. 500 and IRs. 2000 in Nepal. The federation has suggested to the government that the message that Nepal is safe should be spread and implemented effectively and that it should be centered in India. As… Continue reading Pvt sector suggests govt to bring new Indian currency in operation
TIA staffers including sanitation workers involved in gold smuggling
Kathmandu: Five employees of the Tribhuvan International Airport (TIA), including two cleaners, have been arrested on charges of smuggling gold.Two kilograms and 332 grams of illegally imported gold was smuggled out through them. It has been found that they have been involved in smuggling gold smuggled from abroad to the airport. That five persons including… Continue reading TIA staffers including sanitation workers involved in gold smuggling
Govt ban on import of 10 expensive stuff
Kathmandu: The government has completely banned the import of 10 different types of materials. The Ministry of Industry, Commerce and Supplies publish a notice in the Nepal Gazette on Tuesday to ban the import of various goods till mid-July. The government has banned on import of Indian snack items Kurkure, all types of prepared alcohol,… Continue reading Govt ban on import of 10 expensive stuff
Governer says Russia-Ukraine war could raise inflation
Kathmandu: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the war between Russia and Ukraine could lead to higher prices. Addressing 67th annual programme of Nepal Rastra Bank, Governor Adhikari said that the external sector of the economy is under some pressure. He also said that the NRB is taking policy initiatives… Continue reading Governer says Russia-Ukraine war could raise inflation
$10,800 found inside Buddha Air’s aircraft
Kathmandu: A US dollar has been found in the seat of a Buddha Air flight from Bhadrapur to Kathmandu. According to the Nepal Police, 108 notes of 100 rate were found at the airport parking lot towards the domestic flight of Tribhuvan International Airport. Dollars were found in a leather handbag on the seat of… Continue reading $10,800 found inside Buddha Air’s aircraft
Construction companies to halt all ongoing projects
Kathmandu: Construction companies have decided to go on a ‘construction holiday’ from Sunday, shutting down all construction work except essential work. Stating that there has been an unexpected rise in prices of various construction materials and the construction work cannot be carried out until the problem of such price rise is resolved, the construction companies… Continue reading Construction companies to halt all ongoing projects