Category: Finance

Kathmandu: Commercial banks have decided not to open letter of credit (LC) for import of various goods as the country’s foreign exchange reserves are declining.A meeting of the Nepal Bankers’ Association (NBA) held on Sunday has decided not to open LC for import of vehicles, dry food, furniture, cigarettes, liquor, decorative items, perfumes, mobiles and… Continue reading Bankers’ Association decides not to issue LC for luxurious goods

Kathmandu: Nepal Rastra Bank Governor Maha Prasad Adhikari has been suspended.According to the Nepal Rastra Bank Act, he was automatically suspended after the government formed an inquiry committee to expedite the process. The question of the governor’s office was raised in the cabinet meeting held on Thursday. Discussions were held to form a committee to… Continue reading Govt suspends Governor Maha Prasad Adhikari

Kathmandu: Nepal Oil Corporation (NOC) has again increased the fuel price. The price of petrol, diesel and kerosene has been increased by Rs 5 per liter and cooking LP gas by Rs 25 per cylinder with effect from 12 noon last night, according to a statement issued by the corporation. Along with this, the price… Continue reading NOC again raises fuel price

Kathmandu: A long-awaited dry port at Chobhar in Kathmandu has finally come into operation on Tuesday. The port was inaugurated by Prime Minister Sher Bahadur Deuba today. Prime Minister Deuba inaugurated the port by bringing in three containers carrying goods for Kathmandu through Birgunj. Now, it has become possible to pass the customs check by… Continue reading Chobhar dry port came into operation today

Kathmandu: The government has increased the fare of public transports by 15 percent. The Department of Transport Management has stated that the fare of passenger vehicles has been increased up to 10 percent as per the ministerial decision of the Ministry of Physical Infrastructure and Transport. Similarly, the fare of long distance vehicles has increased… Continue reading Public vehicle fares increased by 15 percent

Kathmandu: More than 40,000 tourists have visited Nepal in March. According to the Nepal Tourism Board (NTB) 42,006 tourists have come to Nepal in March. This number is 180 percent more than the same period last year. A total of 14,977 tourists visited Nepal in March last year. The number of tourists visiting Nepal in… Continue reading 42,000 tourists visit Nepal in March

Kathmandu: India has lowered the price of electricity in competitive markets. In India will now sell electricity a maximum rate of Rs 12 per unit. Nepal has also been buying electricity from India. The Electricity Regulatory Commission of India has reduced the competitive rate of electricity from Rs 20 per unit to Rs 12 per… Continue reading India fixes maximum price of electricity at Rs 12 per unit

Kathmandu: A long line of consumers gathered at petrol pumps in fear of a shortage of petroleum products.As the transporters announced to halt fuel supply from today, consumers are sitting in line for fear of a shortage There is a line of consumers at petrol pumps in different parts of the country including Kathmandu Valley… Continue reading Suppliers halt fuel supply in Nepal

(BBC): Russia has told foreign countries they must start paying for its gas in roubles or it will halt supplies. Vladimir Putin has signed a decree stating buyers must “must open rouble accounts in Russian banks” from Friday. “Nobody sells us anything for free, and we are not going to do charity either – that… Continue reading Russia threatens to stop supplying gas if not paid in roubles

Kathmandu: For the second consecutive year, IFC joined the Nepal Stock Exchange (NEPSE) to ‘Ring the Bell for Gender Equality,’ an annual global event that highlights how the private sector can spur women’s participation in the global economy and promote sustainable development. Accelerating the pace of gender parity could lead to important economic, environmental, social,… Continue reading IFC and Nepal Stock Exchange Ring the Bell for Gender Equality