Industrialist Banwari Lal Mittal, best known for pioneering commercial helicopter services in Nepal, passed away at his residence in Gyaneshwor on Wednesday. He was 79.
The Ministry of Energy (MoE) has been preparing to declare an energy emergency lasting three to five years as per the government’s plan to make the country self-reliant in energy by cutting red tape and launching a rush programme.
Nepal Rastra Bank (NRB) has tightened controls on the exchange of Indian currency amid an unwarranted surge in demand and a growing trend of selling it on the black market.
The government on Thursday named a seven-member team to sign the first commercial oil deal with Petro-China in Beijing this week. The delegation will “probably” leave for Beijing on Friday.
More than 50 percent of domestic flights will not take off on Friday after being denied enough fuel by the Nepal Oil Corporation (NOC) on Thursday.
NEA planning to increase load-shedding hours
The Nepal Electricity Authority (NEA) has been considering extending the load-shedding hours as demand for electricity has been swelling significantly with the approach of the winter season.
Pointing out Nepal’s overdependence on India as the main reason behind the massive impact of unofficial Indian embargo on Nepal, Prime Minister KP Sharma Oli on Sunday stressed on the need to learn from this fact.
The Tihar festival has become an expensive affair for many Nepalis as prices of almost all household commodities have skyrocketed with black marketers apparently holding sway.
The Asian Development Bank (ADB) has said it is willing to provide aid to establish a large-scale solar plant in Nepal which is in the midst of a fuel crisis.
Prime Minister KP Sharma Oli has dropped a hint that the unofficial trade embargo could prolong as the ongoing Tarai unrest has been “backed by India”.
The construction work of various national pride projects like the Mid-Hill Highway and the 900 MW Upper Karnali besides a number of small hydro projects in Naumule has been affected due to the fuel crisis caused by India’s unofficial blockade.
The Nepal Oil Corporation (NOC) has signed contracts with two private companies—Birat Petroleum and Petromax Nepal—to supply petroleum products to the state-owned oil company.
Householders in Pokhara were able to buy cooking gas for the first time on Wednesday since dealers ran out of stock one and a half months ago after India stopped shipments.
Hotel occupancy rates dropped from bad to worse in October with hotels experiencing their steepest decline since the Maoist insurgency as every sector of the economy went haywire due to the fuel scarcity.
The government has directed the LPG dealers to provide the details of cooking gas, including its amount imported from India, to the Nepal Oil Corporation (NOC).
Nepal Oil Corporation (NOC) will be distributing petrol to private automobiles in the Kathmandu Valley for three days from Thursday.
Consumers can purchase half-filled cooking-gas cylinders from Saturday, LPG bottlers have said.The Commerce Ministry on Wednesday had decided to allow bottling companies to distribute half-filled cylinders (7.1kg) of liquefied petroleum gas (LPG).
The Chinese manufacturer of the MA60 and Y12e aircraft delivered to Nepal Airlines Corporation (NAC) last year has sent a revised performance chart as the two planes did not meet the performance specifications sent earlier.
Nepal Oil Corporation (NOC) said that 100 tonnes of petrol gifted by China would be transported from the Kyirong-Rasuwagadhi border to Kathmandu on Saturday.
The festival season has failed to bring cheer to the apparel and footwear sector as the annual sales bonanza did not materialise due to the long-running Tarai unrest and border blockade.
Locals outraged by a prolonged shortage of cooking gas have camped outside the Kathmandu Metro bottling plant at Thakre, Mahadevsthan and prevented shipments to Kathmandu.
The market has started running short of daily essentials as unrest in the Tarai and an unofficial Indian blockade tightens the stranglehold on the country.
Nepal Rastra Bank (NRB) has extended the loan repayment deadline for borrowers by one year and relaxed provision of loan loss provisioning considering the uneasy situation caused by long-running Tarai banda and undeclared Indian embargo.
The Global Federation of Nepali Literature Central Committee on Thursday honored Non Resident Nepali Association (NRNA) President Shesh Ghale with the Best Rescuer Honour for contribution in rescuing the victims of the massive 'Gorkha Earthquake' which struck Nepal on April 25.
A black market in cooking gas has emerged along the Prithvi Highway in Dhading with hotels and restaurants being forced to pay double due to an extreme scarcity created by the blockade by India.
Non-Resident Nepali Association (NRNA) President Shesh Ghale was re-elected to the post on Thursday.
Consumer electronics brands have launched various schemes and offers to boost sales during the festive shopping season amid gloomy market conditions triggered by fuel shortages and closure of border points.
Nearly two dozen workshops that specialise in making khukuris, popularly known as Gurkha knives, have been shut down in the eastern region
Three candidates are likely to compete in the Non-Resident Nepalese Association (NRNA) presidential race.
Haphazard distribution of paddy saplings has irked farmers in Dhading while the free saplings distributed by Sana Kishan Cooperative to earthquake survivors have failed to generate the expected result.
The National Planning Commission (NPC) has asked various government agencies to increase the oil storage capacity fourfold after the undeclared blockade by India exposed Nepal’s precarious supply lines
Travelling by public vehicles is not going to be an easy affair for the general people during this festive season. With the blockade imposed by India and the unrest in the southern plains causing an acute fuel shortage, people returning to their villages for Dashain, the most widely celebrated Hindu festival in the country, are likely to encounter a scarcity of vehicles.
Domestic airlines have been facing an extremely high traffic load as a large number of people working or studying in the Kathmandu Valley have started returning home to celebrate Dashain with their families.
The government has hiked travel allowances for government officials for both foreign and domestic trips.
The fuel shock has understandably hit the automobile sector the hardest, as nobody would want to buy a new car when you can’t get gasoline for love or money.
Private dairies have announced that they will be shutting down on Monday for lack of fuel.
Allowing cooperatives and micro finance institutions (MFIs) to provide debit card and remittance transfer facilities will help to expand financial access
PM election boosts private sector hopes
The election of a new Prime Minister has raised the hopes of the private sector that the ongoing political turmoil in the southern part of the country will soon be resolved.
Nepal Oil Corporation (NOC) has said its sole supplier Indian Oil Corporation (IOC) has pledged to increase petroleum supply from Monday.
Nepal Stock Exchange (Nepse) last week plunged 21.42 points amid political crisis and India’s undeclared trade embargo.
Finance Minister Ram Sharan Mahat has said the country is unlikely to achieve the economic growth target for this fiscal year due to the ongoing political turmoil.
Nepal Oil Corporation (NOC) has claimed it has enough petroleum stock to ensure that the people won’t have difficulties in travelling to their home towns to celebrate the Dashain festival.
Aviation fuel crisis at Tribhuvan International Airport (TIA) caused by the unofficial trade blockade imposed by India has hit yet another Chinese airline.
Nepal Airlines Corporation (NAC) on Thursday dispatched its Boeing 757 to Kolkata to pick up aviation turbine fuel to recharge the depleted reserves of Nepal Oil Corporation (NOC) amid worries that continued shortages due to the blockade by India could ground domestic carriers.
Severe fuel shortage has started hitting the telecommunications sector. Particularly, Internet services will be affected the most if the situation prolongs.
The June 2 crash of a helicopter of Mountain Helicopters was caused by distraction by a passenger and the pilot’s failure to react effectively to an unfamiliar geographical situation, the Tourism Minister said on Thursday in its final report on the disaster.
The Asian Development Bank (ADB) has approved a new $15 million grant to rebuild schools, provide micro loans to help restore livelihoods, and to boost awareness of disasters in the 14 districts most severely affected by the recent earthquakes in Nepal.
Handicrafts Trade Fair 2015 is scheduled to open at Bhrikuti Mandap Exhibition Hall on November 26.
Petroleum products entering the country illegally through Rupaidiha across the border from Nepalgunj are being dispatched to various districts where there is an acute fuel scarcity.
Domestic airlines slash fares
Domestic airlines have launched Dashain offers by slashing more than 50 percent off inbound airfares from major Tarai destinations.
Nearly 300 trucks, including 91 oil tankers and 12 cooking gas bullets, entered Nepal through various customs points on Wednesday.
The sixth edition of the Made in Pakistan expo kicked off at the United World Trade Centre on Tuesday.
Strikes and fuel shortage hit dairy farmers hard
Dairy farmers in Makawanpur have been heavily affected by ongoing Tarai banda, with collection centres not purchasing milk citing lack of transport services to supply dairy products to major markets.
3 state-backed banks reopen
Three large state-backed banks have reopened 127 out of the 284 branches that were closed during the 1996-2006 conflict in a bid to expand their services.
A delegation representing the private sector met with Prime Minister Sushil Koirala on Tuesday and urged him to take the lead in resolving the unofficial blockade by India and the unrest in the Tarai.
Privately-built hydropower projects that were knocked out by the April 25 earthquake have not been able to resume operations even though more than six months havepassed since the disaster
The fuel crisis created by the unofficial blockade of Nepal by India has launched a discourse on the country’s energy security.
Dealers of electric vehicles (EVs) are hopeful the fuel shortages will prompt the people to opt for EVs.
Benyamin Ismail is the CEO of AirAsia X, a Malaysian low-cost airline which entered the Nepali market in June 2012.
Ministry of Commerce and Supply has asked the Chinese government to supply petroleum products of Euro III standard.
Until a few years ago, apples produced in Jumla had to be dumped for lack of buyers while the market was flooded with imported fruits, particularly from India.
The Kathmandu Valley is likely to face a shortage of drinking water after a few days as most bottled water factories have cut supplies and some have even shut down operations due to lack of diesel.
Govt studying options to airlift aviation fuel
The government on Wednesday formed a committee to recommend options to fly in aviation fuel for domestic airlines amid mounting fears that the country’s airlines could be grounded for lack of fuel.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has asked the Nepal Rastra Bank (NRB) to extend the deadline for first quarter instalment payment until the second quarter-end
Ministry requests Chinese side for speedy maintenance
Ministry of Commerce and Supply (MoCS) on Wednesday requested the Chinese side for speedy maintenance of the Rasuwagadhi-Keyrung route to enable bilateral trade.
Nepal Rastra Bank (NRB) has given the final approval to the planned merger of NMB Bank with Bhrikuti Development Bank, Pathibhara Development Bank, Clean Energy Development Bank and Prudential Finance.
Bicycle sales in the Kathmandu Valley have soared as the fuel crisis has worried people enough to give serious thought to shifting to manually powered means of transportation.
The government on Wednesday formed a committee to recommend options to fly in aviation fuel for domestic airlines amid mounting fears that the country's airlines could be grounded for lack of fuel.
Prolonged Tarai unrest hits milk collection
Milk collection has been hit across the country by the long-running Tarai unrest and closure of border points.
Mutual funds get HIDCL shares
Hydroelectric Investment and Development Company (HIDCL) has set aside 1 million shares for sale to mutual funds as required by law.
2,000 factories remain shut due to Tarai unrest
Around 2,000 factories in the Bara-Parsa industrial corridor have shut down as their shipments of raw materials have been cut off by political turmoil in the region.
The parliamentary Industry, Commerce and Consumer Welfare Committee on Tuesday directed the Ministry of Industry (MoI) to scrap the decision made by the Industrial Promotion Board (IPB) to issue new liquor manufacturing licences for the time being.
Most international airlines serving Nepal have changed aircraft and their refueling points after being informed by Nepal Oil Corporation (NOC) that it would be halting refueling services
‘Normal fuel after political issue is settled’
The Indian Oil Corporation (IOC) has informed the Nepal Oil Corporation (NOC) that it would start supplying petroleum products as soon as Nepal’s ‘political issues’ are settled, NOC officials said.
Foreign carriers will not be provided refuelling facilities at Kathmandu’s Tribhuvan International Airport (TIA) from Tuesday afternoon onwards as the jet fuel crisis is likely to deepen.
Nepali Ambassador to India Deep Kumar Upadhyay on Monday urged all the stakeholders to cultivate positive approach and work on resolving the difference between Nepal and India
Govt to allow establishment of microbreweries
The government has decided to allow establishment of microbreweries for the first time in the country.
Garlic yields the highest profit margin compared to other vegetables and cereal crops, according to the statistics of the Ministry of Agricultural Development.
The Nepal Oil Corporation (NOC) on Sunday slashed the prices of Diesel and Kerosene by Rs 1 each.
Nepal Airlines Corporation (NAC) resumed direct flights to India's business Capital Mumbai on Friday on the heels of adding Delhi and Bangalore to its network.
Export-oriented industries in Nepal will get tax refund facilities on the purchase of raw materials, according to the amended Trade Policy 2015 unveiled on Wednesday.
The shortage of cooking gas has gradually started to hit Kathmandu Valley as supply has been disrupted by protracted strikes in Tarai
The Nepal Stock Exchange (Nepse) dipped 0.91 points to close at 1,183.76 points last week.
The monsoon’s revival in most of the Tarai districts last week, after a month-long drought during the key paddy transplantation period, has generated optimism among farmers about this year’s harvest.
The Kathmandu District Court has ordered Nepal Oil Corporation (NOC) to pay Rs113.2 million to Nepal Electricity Authority (NEA) in compensation for the damage caused by the adulterated oil supplied to its multi-fuel plant in Duhabi, Sunsari.
Gold price in the domestic market has jumped sharply by Rs 1,400 per tola on Friday. The precious metal is being traded at Rs 51,600 per tola, against Rs 50,200 per tola on Thursday.
Nepal Rastra Bank (NRB) has stopped banks and financial institutions (BFIS) from distributing cash dividend to the shareholders from the profits earned in the last fiscal year 2014-15
Nepal Stock Exchange (Nepse) has directed banks and financial institutions (BFIs) to make public their capital-hike plan only after the approval of the Nepal Rastra Bank
Nepal and India are scheduled to sign a landmark agreement on a cross-border petroleum pipeline on August 24 which is expected to ease transportation of fuel and eliminate the country’s dependence on oil tankers.
The Nepal Stock Exchange (Nepse) has made digital transactions of shares mandatory for commercial banks from Monday in a move towards full computerization of the secondary market. There are 31 commercial banks in Nepal.
Branded apparel stores in the Capital have started to launch clearance sale as summer season nears an end.
Saarc finance ministers are set to hold talks on a range of issues, including establishing a Saarc Development Bank and reviewing progress towards opening economic and infrastructure windows of the Saarc Development Fund (SDF), at a meeting scheduled to be held on August 19-20 in Kathmandu.
In a bid to strengthen the network quality that has remain-ed poor after the April 25 earthquake, Nepal Telecom (NT) has started redesigning its network in the valley.