Tribhuvan International Airport (TIA) is at the final stage of awarding a $28-million contract for the rehabilitation of its battered runway.
Suresh Basnet, the unpopular board director of Kathmandu Upatyaka Khanepani Limited (KUKL), has finally stepped down, closing a tumultuous chapter in the history of the Kathmandu Valley’s sole drinking water supplying company that is gearing up to bring in 170 million litres of water per day from the Melamchi River by October.
Nepali people may seem like a docile lot based on the data provided by Nepal Telecommunications Authority (NTA), where only 22 formal complaints were filed against the regulator of telecom service in the fiscal year 2015-16 but on social media, it’s the wild west of complaints.
Construction work on Gautam Buddha International Airport in Bhairahawa has come to a halt as the Chinese contractor has not been able to pay the workers and suppliers.
The Civil Aviation Authority of Nepal (Caan) is preparing to send the preliminary ‘procedural design’ of the proposed regional international airport in Pokhara to China EXIM Bank to acquire financing to build the much-awaited project.
The Commission for the Investigation of Abuse of Authority (CIAA) has formally launched an investigation into the decision of the Civil Aviation Authority of Nepal (Caan) to distribute bonus to its employees from money collected from passengers to develop airport infrastructure.
Nepal Stock Exchange (Nepse) last week rose 18.12 points to close at 1,347.53 points amid a surge in demand after investors received their money back following completion of allotment of initial public offerings and further public offerings of a number of companies.
The Cabinet meeting on Wednesday gave clean chit to Ncell, a privately owned telecom service provider, on the capital gains tax fiasco.
The board of directors of Nepal Airlines Corporation (NAC) on Monday gave the go-ahead to sell one of its two vintage Boeing 757s. The national flag carrier has set a minimum sale price of $1.7 million for its 30-year-old Karnali bearing registration number 9N-ACA.
Lack of instructor pilots hinders operations
The House Public Accounts Committee has asked Nepal Airlines to explain why it has not been flying its Chinese-made Y12e aircraft to mountain airfields.
‘Get strategic partner for NAC in 3 months’
The parliamentary Public Accounts Committee (PAC) on Sunday directed the government to induct a foreign strategic partner in Nepal Airlines Corporation (NAC) within three months.
Indian Finance Minister Arun Jaitley has said that demonetized IRs500 and IRs1,000 banknotes held by Nepalis will be exchanged once proper arrangements have been put in place to ensure that black money and counterfeit currency do not enter the Indian financial system.
The government is planning to open parts of restricted areas to foreign tourists in a bid to raise tourism revenues, Tourism Minister Jeevan Bahadur Shahi said Friday.
The money from the sale of trees that will be cut down at the proposed construction site of an international airport in Nijgadh will pay for half of the construction cost, officials said.
The biggest investment summit being held in the country is kicking off on Thursday, drawing around 300 foreign delegates, mostly investors, who are expected to express commitment to invest in sectors ranging from infrastructure and mining to tourism and agriculture.
Officials from India’s central bank arrived in Nepal on Tuesday to take stock of preparations made by Nepal Rastra Bank (NRB), the Nepali central bank, to provide currency exchange facility to Nepalis holding demonetised Indian banknotes of IRs500 and IRs1,000.
Public transport vehicles that are more than 20 years old will be banned from the streets of Kathmandu from Wednesday, the Department of Transport Management (DoTM) said.
More than 3,000 brand new vehicles imported from India have gathered dust at parking yard of the Birgunj Customs Office, as sales of automobiles have dropped after banks and financial institutions started tightening disbursement of auto loans.
The performance of projects funded by the Asian Development Bank (ADB) in Nepal “improved notably” in 2016, with the government setting new records in fund disbursement and contract awards.
The Chinese contractor hired to build the Gautam Buddha International Airport at Bhairahawa runs the risk of being “terminated” due to political meddling that led to deterioration of its financial health, subsequently affecting its performance.
Nepal Stock Exchange (Nepse) last week lost 6.39 points to close at 1,337.46 points, as investors rushed to book profits amid rising prices.
One district one product: Eastern districts execute scheme
Eight districts in the eastern region have focused on “One District One Product” programme under the Prime Minister Agriculture Modernisation Project.
NEA relaxes hydrology penalty
Nepal Electricity Authority (NEA) has said project’s generating one to 10 megawatts of electricity will not be fined even if they fail to supply up to 50 percent of power they had pledged to sell to NEA at the time of signing power purchase agreement (PPA).
In December, 40 tonnes of yellow lentils worth over Rs10 million being smuggled from India were intercepted by the police in Parsa.
Shankar Khanal of Kathmandu purchased two ropanies of apple orchard for Rs4.2 million in the Rara region recently.
Talks between Nepal Oil Corporation (NOC) and petroleum tanker operators held here on Monday ended fruitless after the latter stood firm on their stand that they would not abide by NOC’s provision that requires them to have at least five tankers to run the business.
India has proposed March-end or early-April for Nepal-India Joint Technical Committee meeting on air routes after the meeting failed to convene in the first week of February,
Indian Railways Minister Suresh Prabhakar Prabhu landed in Kathmandu on Saturday afternoon to participate in Nepal Infrastructure Summit 2017 that is slated to be held from February 19-20.
Nepal Airlines Corporation (NAC) has set a minimum sale price of $1.7 million for its vintage Boeing 757 which is being auctioned, multiple sources have confirmed.
Abundant supplies of seasonal vegetables in the market have resulted in their prices dropping sharply in the last few weeks.
The District Administration Office (DAO), Gorkha is likely to start distributing compensation to residents of three VDCs for their land taken over by the Budhi Gandaki Hydroelectric Project this week.
Calls for the formulation of a Petroleum Act have intensified to control malpractices in the liquefied petroleum gas (LPG) business. Lack of laws has prevented Nepal Oil Corporation (NOC)
The chairman of Kathmandu Valley’s sole drinking water supplying firm, who has lost support of most of the staff because of his high-handed attitude, has withdrawn two court cases filed against the company he is working for.
Nepal and India have agreed to finalise the detailed project report (DPR) of the proposed Butwal-Gorakhpur cross-border transmission line prepared by the joint technical team representing both the countries.
The Indian developer of the Arun-3 Hydropower Project has claimed compensation from the government for failing to abide by its commitment to give continuity to the laws that existed when the project development agreement (PDA) was signed.
On Sunday, NMB Bank launched an attractive two-year fixed deposit scheme offering an annual interest of 12 percent. This basically means depositors who park, say Rs100 at NMB, will be guaranteed a return of Rs12 per year for a two-year period.
NEA to save Rs1b a year as it slashes power leakage
In one of the rare achievements in its history, Nepal Electricity Authority (NEA) has cut down electricity leakage by 2 percentage points, reducing its losses by at least Rs1 billion.
Sebon directs NLI and FC Microfinance to settle share allotment by Feb 24
The Securities Board of Nepal (Sebon) has directed Nepal Life Insurance and Forward Community Microfinance to settle their share allotment process by February 24.
The trade deficit has gone up by 71.3 per cent in the first six month of the current fiscal year, thanks to heavy increase in goods import despite normal rise in the exports in the country.
Nepal Airlines Corporation (NAC) formally received an MA60 and a Y-12e aircraft ordered from the manufacturer China Aviation Industry Corporation (AVIC) on Wednesday.
Great deal of uncertainty remains over the proposed Nepal-India joint technical committee meeting on air routes which was scheduled for the first week of February, amid controversy over India’s proposal to allow overnight stay for in-flight security officer, popularly known as “air marshal”.
Nepal Airlines Corporation (NAC) on Monday announced that it would be launching four new long-haul routes besides resuming its London service after acquiring two wide-body jets in 2018.
The Department of Transport Management (DoTM) has been swamped with 149,000 applications for 1,500 new taxicab operating permits being offered to residents of the 14 districts hardest hit by the earthquakes of 2015 as part of a support programme for victims.
A committee is considering requesting the government to acquire the detailed project report of Kathmandu-Tarai Fast Track prepared by an Indian firm to expedite the process of building the 76-km expressway which is expected to reduce travel time from the country’s capital to Nijgad in the south to less than an hour.
Nepal Telecom (NT) will be offering 4G (fourth generation) service to its prepaid subscribers too from Saturday, a month after it was launched for postpaid subscribers.
KUKL chairman agrees to withdraw court case
The obstinate chairman of Kathmandu Upatyaka Khanepani Limited (KUKL) has agreed to withdraw a court case filed against the company he is working for.
The Tourism Ministry’s plan to induct a strategic or management partner at Nepal Airlines Corporation (NAC) has taken another slow step forward with the formation of a panel to study how this will be done.
Nepal has made a formal request to India to scrap a 4.5 percent service tax on ocean freight costs which was imposed in accordance with a notice issued by the Revenue Department of India on January 12.
The Indian government has pledged to extend 17 percent more in financial aid to Nepal in the next fiscal year, indicating greater enthusiasm of the southern neighbour to support the landlocked country’s development endeavours.
Nepal Oil Corporation (NOC) on Wednesday raised the price of liquefied petroleum gas (LPG) by Rs 25 per cylinder.
The increase in the interest rate of bank and financial institutes had resulted in ripples in share market.
Nepal Electricity Authority (NEA) is importing an additional 25MW electricity from India from Wednesday.
Gas bottlers have been refusing to import liquefied petroleum gas (LPG) even though the government has agreed to their longstanding demand to be allowed to operate their own tankers because now they have another complaint.
Top-up cards of Nepal Telecom (NT) worth Rs2 million—20,000 units worth Rs100 each—have gone missing while being imported from India, the state-run telecom service provider said on Saturday.
Cabinet meeting decides to merge NIDC Development Bank and RBB
The government has decided to merge the NIDC Development Bank with the Rastriya Banijya Bank (RBB). A meeting of the Council of Ministers on Friday took this decision, according to Minister for Information and Communications Surendra Kumar Karki who is also the government spokesperson.
A bevy of foreign investors have expressed an interest in building the proposed second international airport (SIA) in Nijgadh, Bara, but the government is reluctant to award the contract to anybody, officials said.
The Civil Aviation Authority of Nepal (Caan) has decided to lease out its land at Sinamangal to the Bed Upreti Trust without following procedure.
In a bid to increase internal production and end power-cuts across the country, the government has recently urged all under construction hydropower projects to be completed before the deadline.
The International Monetary Fund (IMF) has revised Nepal’s economic growth forecast sharply upward to 5.5 percent for this fiscal year, signalling an end to a two-year streak of low growth.
Vegetable imports from India have continued to increase even as the far-western region has seen a rise in commercial vegetable farming.
A team of geologists from the Department of Mines and Geology has arrived at Dhauwadi in Nawalparasi district to conduct a detailed study on extraction of iron from ores found in the village.
Repair work likely to complete by Feb 10
Repair work on a section of road in Kathmandu’s Naxal area that had caved in is likely to be completed by Feb 10.
District Administration Office (DAO), Gorkha, is likely to start distributing compensation to locals of three VDCs for land to be acquired by Budhigandaki Hydroelectric Project (1,200MW) within two weeks.
Amid much fanfare on January 10, Energy Minister Janardan Sharma announced the Power Purchase Rates (PPR) at which the Nepal Electricity Authority (NEA) would buy electricity from reservoir, peaking and run-of-the-river type projects.
Nepal can generate revenue of up to Rs310 billion per year in 2030 and as high as Rs1,069 billion per year in 2045 if the country is able to sell electricity to India by harnessing its hydropower potential.
The Nepal Telecommu-nications Authority (NTA) has said it may not be able to further stall issuing Ncell’s 4G licence for non-payment of capital gains tax as it has not been formally informed about the telecom company’s tax liabilities.
Consumer prices rose at the slowest pace in 12 years in December, as food inflation eased and difference between consumer price hike in Nepal and India narrowed down to the lowest level in the last 28 months.
In a major breakthrough in the development of West Seti Hydropower Project, NEA and China Three Gorges Corporation on Monday put the initials on a joint venture pact to build one of the largest reservoir type hydro projects.
Nepal Airlines Corporation (NAC) moved closer to acquiring two Airbus A330-200 long-range jets after its board unanimously agreed to award the supply contract to US-based AAR Corp.
Officials of the Indian finance ministry and the central bank will soon visit Nepal to take stock of preparations made by Nepal to provide currency exchange facility to Nepalis holding banned Indian banknotes.
Nepal has emerged as one of the top 10 low income developing countries (LIDCs) to attract investment in infrastructure projects built under Public-Private Partnership (PPP) model, says a latest International Monetary Fund (IMF) report.
Nepal Airlines Corporation’s (NAC) board has approved its management plan to nearly double salaries and allowances of cockpit and cabin crews in a bid to retain them.
Nepal Airlines has taken the top spot in international passenger carriage for the first time in years, flying 275,701 travellers during the first nine months of 2016.
Nepal’s tourism experienced a dramatic turnaround last year after being hit by the twin disasters of a devastating earthquake and crippling trade embargo in 2015.
Stakeholders on Tuesday expressed the need on enforcing effective mechanism on growing gold smuggling through Tribhuvan International Airport (TIA).
Govt planning to set up hedge fund to attract foreign investors
The government is planning to set up a hedge fund in a bid to facilitate foreign investors interested in investing in hydropower projects in the country.
The Banks and Financial Institution (BAFI) Bill, 2063 (2006) was endorsed on Tuesday with a majority.
Gas stations ordered to upgrade
Gasoline stations have been told to upgrade their infrastructure and maintain safety standards set by Nepal Oil Corporation (NOC) in the next four months.
Caan takes controversial step to pay Rs530m bonus
The Civil Aviation Authority of Nepal (Caan) has decided to distribute Rs530 million as bonus to its employees in a move that has stirred controversy as the money has actually been collected from taxpayers.
The government is considering on floating shares of Kathmandu Upatyaka Khanepani Limited (KUKL), the sole drinking water supplier in the Kathmandu Valley, to the public to raise a portion of funds required to complete the second phase of the Melamchi Drinking Water Project.
Janakpur, one of the major Nepali cities having significant religious and cultural essence, is in the cusp of a new era, as development works are moving ahead at a rapid pace with implementation of several infrastructure projects.
India has imposed anti-dumping duty ranging from $6.30 to $351.72 per tonne on the import of jute and jute products from Nepal.
Three taxi cabs were fitted with meters that print out receipts on Sunday, marking the formal inauguration of the taxi receipt system in Nepal.
Morang has overtaken Jhapa as the largest paddy producing district in terms of area for the first time, according to the statistics of the Ministry of Agricultural Development.
Dishonest traders may be fined up to Rs100,000 on the spot under a new Consumer Protection Act the Supplies Ministry is currently preparing.
Nepal is headed for the largest paddy harvest in history as the heavens have smiled on farmers and sent down an above average monsoon, according to a preliminary crop production report released by the Agricultural Ministry on Sunday.
2016 would probably be remembered as a year when the country’s economy finally started seeing signs of recovery after a year in doldrums.
State-run Nepal Telecom (NT) is launching fourth generation (4G) telecom service in Kathmandu and Pokhara valleys on Sunday, in a bid to provide faster and higher quality data services to its subscribers.
Nepal Oil Corporation (NOC) is likely to roll back prices slightly on Sunday following criticism by lawmakers over its recent price hike. Fuel prices could go down by up to Rs2.50 per litre, an NOC official said.
Nepal and India have agreed on a fresh deadline of February 2017 to finalise the detailed project report (DPR) of the Pancheshwar Multipurpose Project.
US-based AAR Corp has submitted the lowest bid to supply two Airbus A330-200 long-range jets to Nepal Airlines Corporation (NAC), according to the evaluation committee's report submitted to the NAC management last week.
Twenty companies have expressed interest in launching satellite in the orbital position allocated to Nepal by International Telecommun-ication Union (ITU).
Nepal, India agree third-country codeshare deal
Nepal and India have agreed on a third-country codeshare deal which allows carriers of the two countries to share marketing services with airlines from third countries.
Nepal Electricity Authority’s (NEA) drive to make the Kathmandu Valley a loadshedding-free zone has got a major shot in the arm, as India has agreed to supply an additional 80MW electricity through the Dhalkebar-Muzaffarpur cross-border transmission line.
The Cabinet on Thursday scrapped all the agreements made with an Indian firm to build a 76-km expressway linking Kathmandu with Nijgadh, clearing legal hurdles to allow the government to build the fast track with its own resources.
The much-touted Upper Tamakoshi Hydropower Project is going to miss its construction deadline of July 2018 as its contractors, consultant and the Nepal Electricity Authority (NEA) have agreed to push back the completion date to December 2018.
India has agreed to develop the Trans-Himalaya 2 air route and redefine the Kathmandu-Mahendranagar-Delhi (L626) route as a bi-directional route during the Nepal-India air service talks which concluded in New Delhi on Wednesday.
Travelling in and out of Kathmandu Valley may be a lot easier in a few years, as Japan has formally agreed to extend financial support to build a tunnel on Nagdhunga-Naubise section-one of the busiest and gridlock-prone segments of the Prithivi Highway that links the country’s capital.
Come January 1, all taxis operating in Kathmandu Valley must start installing billing system on their vehicles.
Nepal’s biggest raised flat-land of river deposition with human settlement, Salyantar, is now surrounded by more than 100 unchecked brick-manufacturing factories that discharge smoky haze adversely destroying the greenery and affecting human health.