Category: Finance

Kathmandu: Nepal and India have signed a new Memorandum of Understanding (MoU) aimed at enhancing bilateral cooperation in agricultural science and technology, replacing the previous agreement signed in December 1991. The MoU was signed in Kathmandu by Nepal’s Minister for Agriculture and Livestock Development, Ramnath Adhikari, and India’s Minister for Agriculture, Farmers Welfare and Rural… Continue reading Nepal and India sign new MoU to strengthen agricultural cooperation

Kathmandu: Prime Minister KP Sharma Oli has instructed ministers and secretaries to prioritize increasing production and employment in the upcoming fiscal year’s budget. During a meeting held at the Prime Minister’s Office in Singha Durbar on Thursday, PM Oli emphasized that the budget must reflect national needs and priorities. He said good governance is essential… Continue reading PM Oli directs focus on production and employment in upcoming budget

Kathmandu: Nepal has initiated groundwork to exit the Financial Action Task Force (FATF) grey list, with a key meeting of the Asset Laundering Prevention Directive Committee held on Monday to finalize and implement a national action plan. The meeting decided to enforce a detailed plan outlining responsible agencies, specific activities, and deadlines to address shortcomings… Continue reading Nepal begins preparations to exit FATF grey list

Kathmandu: Nepal’s economy is projected to grow 4.5 percent in FY25, up from 3.9 percent in FY24, despite significant natural disasters in late 2024. Growth is expected to be driven by increased domestic trade, hydropower generation and paddy production, according to the World Bank’s latest Nepal Development Update: Leveraging Resilience and Implementing Reforms for Boosting… Continue reading Nepal’s Economy Expected to Remain Resilient in Face of Economic Shocks, says World Bank

Kathmandu: Nepal’s digital financial sector is rapidly expanding, driving financial inclusion and economic growth, according to a flagship report launched by the International Finance Corporation (IFC) and Nepal Rastra Bank (NRB). The report outlines key milestones achieved through two major projects: Access to Financial Services, supported by Japan and the United Kingdom, and Digital Financial… Continue reading Digital financial services transforming Nepal’s economy, says IFC-NRB report

Kathmandu: The price of gold has reached a new record in the domestic market, with an increase of Rs 600 per tola on Sunday. According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded at Rs 176,800 per tola, surpassing the previous price of Rs 176,200 per tola… Continue reading Gold prices hit all-time high, silver prices see slight decline

Kathmandu: The Kathmandu Metropolitan City (KMC) has issued a fine notice to former King Gyanendra Shah after he refused to accept a letter regarding penalties for damage and littering during the pro-monarchy protest in Tinkune last Friday. The penalty amounts to Rs 793,000, which covers the costs of the damage and cleanup required in the… Continue reading KMC sends fine notice to former King Gyanendra Shah for damage and littering during Tinkune protest

Kathmandu: The World Bank’s Board of Executive Directors today approved a financing package of $150 million for Nepal’s Third Bridges Improvement and Maintenance Program (BIMP-III) to strengthen the resilience of bridges in the Strategic Road Network, ensuring safer and uninterrupted connectivity across the country’s diverse and challenging terrain. Nepal’s bridge system serves as critical lifelines… Continue reading World Bank approves $150 million to improve resilience of bridge network, connectivity, and access to services

Kathmandu: The House of Representatives meeting scheduled for Wednesday was adjourned until Thursday following continuous obstruction by opposition lawmakers protesting the government’s decision to dismiss former Nepal Electricity Authority (NEA) Managing Director Kulman Ghising. The session, set to commence at 11:00 AM, was initially delayed by half an hour due to disruptions but was ultimately… Continue reading Parliament session adjourned amid opposition protest over Kulman Ghising’s dismissal

Kathmandu: Nepal’s trade deficit has surged to Rs 987.39 billion in the last eight months of the current fiscal year, despite a 57.2% increase in exports. Total foreign trade reached Rs 1.3 trillion, with imports rising by 11.2% compared to the previous year. Petroleum imports remain a major contributor, with Rs 78.86 billion spent on… Continue reading Nepal’s trade deficit reaches Rs 987.39 billion despite export growth