Category: Finance

Kathmandu: The Government of Nepal has unveiled an action plan to ensure the full operational capacity of two major national pride projects: Gautam Buddha International Airport (GBIA) and Pokhara Regional International Airport (PRIA). This initiative includes a series of concessions and attractive packages aimed at encouraging airlines to resume regular international flights, which have been… Continue reading Government moves to fully operationalize key national airports

Kathmandu: Nepal’s commercial airlines industry is calling on the government to overhaul aviation policies following substantial losses exceeding 10 billion rupees caused by the COVID-19 pandemic. In a memorandum submitted to Prime Minister KP Sharma Oli today, major airline owners requested that civil aviation be prioritized as a key industry, with tax exemptions to aid… Continue reading Airline companies seek policy reform to recover from pandemic losses

Kathmandu: Nepal is set to export an additional 251 MW of electricity to India following approval from India’s Designated Authority for Cross Border Trade. This power, generated from 12 hydropower projects, will be supplied to Bihar under a new medium-term sales agreement. This approval raises the total permitted power exports from Nepal to India from… Continue reading Nepal to boost power exports to India with new 251 MW approval

Kathmandu: Consumer price inflation saw a significant decline, standing at 3.57% in mid-July 2024, down from 7.44% a year earlier. The annual average inflation for FY 2023/24 was recorded at 5.44%, a decrease from 7.74% the previous year. In the food and beverage category, notable increases were observed in spices (26.40%), pulses and legumes (9.96%),… Continue reading Consumer price inflation drops to 3.57% Y-o-Year in Mid-July 2024

Kathmandu: On Sunday, gold prices reached an all-time high in the domestic market. The Federation of Nepal Gold and Silver Dealers’ Associations reported that the price of fine gold has surged to NPR 152,600 per tola, marking a significant increase of NPR 3,000. This new figure sets a record for gold prices in Nepal. Previously,… Continue reading Gold prices hit record high in domestic market

Kathmandu: The NRN Nepal Development Fund, amounting to NPR 10 billion, will be implemented starting this month. The agreement was reached during a discussion at the Finance Ministry involving Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Non-Resident Nepali Association (NRNA) President Dr. Badri KC, and Founder President Dr. Upendra Mahato, among others. The… Continue reading NRN Nepal Development Fund set to launch this month

Kathmandu: The long-awaited Supreme Court hearing regarding the case filed by Hitendradev Shakya against Kulman Ghising’s appointment as the Managing Director of the Nepal Electricity Authority (NEA) has been postponed once again. Shakya’s petition, which seeks the cancellation of Ghising’s appointment, was scheduled for a hearing on Wednesday. However, the hearing has been delayed yet… Continue reading Supreme court postpones hearing on Kulman Ghising’s NEA appointment case

Kathmandu: Nepal’s electricity production capacity has surged to 3,157 megawatts (MW), marking a notable increase of approximately 1,700 MW over the past three years, according to the latest data from the Nepal Electricity Authority (NEA). The NEA’s records reveal that Nepal’s total production capacity has expanded by about 2,300 MW over the past eight years.… Continue reading Nepal’s electricity production capacity hits 3,157 MW

Kathmandu: On Tuesday, the Nepal Stock Exchange (NEPSE) experienced a dramatic drop, plunging by a record 145.05 points. The daily turnover surged to a historic high of Rs 23.71 billion. The NEPSE imposed a negative circuit breaker on the share prices of 11 companies during intraday trading. Seven of these companies, including Nepal Finance, Gurkhas… Continue reading NEPSE plunges with record decline and turnover surge

Kathmandu: Nepal government and the World Bank today signed a financing agreement for a US$100 million concessional loan from the International Development Association (IDA) to help improve the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network. The Provincial and Local Roads… Continue reading Nepal govt and World Bank sign US$100 mn project to improve roads