Category: Finance

Kathmandu: Deputy Prime Minister and Minister for Foreign Affairs Raghubir Mahaseth said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory. Addressing the ‘Joint Thematic Event of the UN General Assembly and Economic and Social Council on Least Developed Countries’ through a pre-recorded video, he expressed Nepal’s… Continue reading “Nepal’s graduation from LDC would be a milestone for country’s development”

Kathmandu: On Thursday, the Nepse index, which measures sharp fluctuations throughout the day, declined by only one point at the close. Of the 13 sub-indexes traded on Nepse, 7 sub-index have declined and 6 sub-index have increased. The largest development banks grew by 2.04 percent, while the most ‘other’ groups declined by 1.19 percent. Share… Continue reading Prices of 113 companies fell as Nepse fell by one point

Kathmandu: The World Bank’s Board of Executive Directors today approved a $150 million development policy credit to support Nepal’s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth. “Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to affected populations and support Nepal’s… Continue reading World Bank supports Nepal with $150 mn for Pandemic response and recovery

BBC: The World Bank has rejected a request from El Salvador to help with the implementation of Bitcoin as legal tender. The international lender cited concerns over transparency and the environmental impact of Bitcoin mining. Earlier this month, the Central American country announced plans to become the first nation to formally adopt the digital currency.… Continue reading World Bank rejects El Salvador request for Bitcoin help

Kathmandu: Most of the branch offices of banks and financial institutions in Kathmandu Valley are open from today. Most of the bank’s branch offices reopened on Tuesday after the government decided to extend the restrictions by one week. According to Nepal Rastra Bank the banks have been instructed to open minimum branches by following the… Continue reading Mostly BFIs branch office open from today

Kathmandu: All the seven provincial governments are set to unveil the budget for the fiscal year 2021/22 today. According to the Intergovernmental Financial Management Act, the budget has to be presented in the province assembly on June 15. The central government has given four types of grants to seven provincial governments of Rs 103 billion.… Continue reading All seven provincial govt announcing budget today

Kathmandu: Remittance inflows have increased by 19.2 percent to Rs.809.89 billion in the first 10 months of the current fiscal year against a decrease of 6.3 percent in the same period of the previous year.The net transfer has increased by 17.2 percent to Rs.903.77 billion in the review period. Such a transfer had decreased 6.9… Continue reading Remittances increase by 19.2 pc in last 10 months

Reuters: The Group of Seven rich nations will announce on Saturday a new global infrastructure plan as a response to China’s belt and road intiative, a senior official in U.S. President Joe Biden’s administration said. The official, who spoke to reporters on condition of anonymity, said the United States would also push the other G7… Continue reading G7 to counter China’s belt and road with infrastructure project – senior US official

Kathmandu: The global economy is expected to expand 5.6 percent in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies. However, many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath, the World Bank says in its June 2021 Global Economic… Continue reading “Output to remain below pre-COVID trends despite robust rebound by US and China”

Kathmandu: The bodies of 35 Nepalis have been stranded in Malaysia due to the restrictions on international flights. According to Nepal Embassy in Malaysia, the bodies of about 35 Nepalis have been stranded in Malaysia alone within a month of the government shutting down international flights to prevent corona infection. According to the embassy, the… Continue reading Dead bodies of Nepali migrants stranded in Malaysia due to flight ban