Simrik Airlines returned to the air on Thursday after being grounded for 10 days due to the expiry of its flying licence.
Market inspection teams have been taking action against retailers charging prices higher than the maximum retail price (MRP).
The National Reconstruction Authority (NRA) has completed detailed assessment of around 50,000 houses of Kathmandu Valley that were damaged by earthquakes last year.
The Nepal-China border point at Mustang’s Korala, which was opened for a local trade fair for 15 days, has been closed on the 12th day.
The government has barred local authorities from issuing route permits to public vehicles and has made its mandatory for all transport operators to acquire the permits from the Department of Transport Management (DoTM), according to the Home Ministry.
Nepal Airlines Corporation (NAC) in on the lookout for a foreign strategic partner who will buy at least 51 percent of its shares.
Gasoline lines are back with frantic motorists forming long queues in front of the few petrol pumps that are still open as another shortage hits the Kathmandu Valley while Nepal Oil Corporation (NOC) claims that “there is no short supply”.
Bhairahawa ousts Birgunj as largest import gateway
Bhairahawa customs point has knocked Birgunj out of the top spot as the largest import gateway.
Tourist arrivals to Nepal jumped 12.77 percent in the first six months of 2016, showing incipient signs that the tourism industry is stirring back to normal after suffering a series of disasters last year.
Nepal Airlines has resumed its Dubai operations after a four-year hiatus. An Airbus A320 flight was dispatched on Thursday to the destination with 158 passengers onboard.
After Prime Minister Pushpa Kamal Dahal instructed officials to take immediate action against those involved in black-marketeering and artificial price hikes, the Supply Ministry has intensified market monitoring in the Kathmandu Valley.
Nepal Oil Corporation (NOC) has expedited the project to expand its fuel storage capacity by selecting an Indian company to construct a storage unit at Thankot.
Civil Aviation Authority of Nepal (Caan) is all set to ban chartered passenger flights by single-engine aircraft.
CG, one of Nepal’s leading electronics brand, has expanded its LED TV line-up.
NMB, Himalaya sign student loan MoU
NMB Bank and Himalaya College of Engineering, Lalitpur have signed a memorandum of understanding (MoU) to provide education loans to students of Bachelor of Engineering (BE) against their academic certificates as collateral.
Sebon sets criteria for FPO pricing
Securities Board of Nepal (Sebon) has set four criteria on stock pricing for further public offering (FPO).
Four plane crashes in six months this year have spurred the government to address air safety issues after regulatory shortcomings became glaringly apparent.
The Nepal Stock Exchange (Nepse) index jumped 84.51 points on Tuesday, ending an eight-day losing streak.
Car, jeep and van segment sees 105.6pc rise; heavy equipment surges threefold; two-wheeler segment posts 7.47pc rise
Chinese experts have said the much-touted railway link between Nepal and China through the Himalayan highland “is economically and technologically feasible”.
Indian authorities have fixed tariff rate for Nepal-bound cargos and have allotted space for setting up a Nepali Consulate General office
Nepal has been listed on the number two spot in South Asia posing the highest risk for money laundering, according to the Basel Anti-Money Laundering (AML) Index, an annual ranking of countries assessing their money laundering risk.
Ministry of Supplies Secretary Shreedhar Sapkota and NOC Managing Director Gopal Bahadur Khadka on Tuesday traded charges at each other over granting permission to bottlers to own gas bullets.
Three key heritage sites in the country—Pashupati, Lumbini and Janakpur—have been slated for major infrastructural development this fiscal year in a bid to pump up religious and cultural tourism after poor budget expenditure in the last fiscal year.
An agriculture market in Attariya, Kaialali, has emerged as one of the largest integrated agriculture markets in the country.
Thirteen candidates have submitted applications for the post of managing director of state-run Nepal Telecom (NT).
Arghakhachi Cement, a leading cement manufacturer, has not been to use one of its limestone mines in Narapani, Arghakhachi, for the last five years, amid differences between political parties over whether to allow the industry to extract limestone.
Sugar prices increase on low production
Sugar has become dearer as factories have hiked prices of their products citing a drop in production and transportation difficulties during the Indian blockade.
Pilots of Tara Air Flight 193, which crashed at Myagdi’s Solighopte in February killing all 23 onboard, deliberately entered cloud while operating under the visual flight rules and deviated from the normal track due to the loss of situational awareness, the government’s fact-finding committee said on Sunday.
Freight forwarders have asked the government to work towards early operationalisation of Visakhapatnam port which India has allowed Nepal to use for its third-country trade. They believe that the cost of trade will be reduced sharply by using the deep water port in southern India as it can accommodate very large ships.
Commercial banks issued more loans in the last fiscal year 2015-16 than in the previous year as businesses charged ahead, overturning predictions of an economic disaster due to prolonged political unrest and a four-and-a-half-month-long blockade by India.
Ncell has submitted a new proposal to the Department of Industry (DOI), seeking the latter’s approval to capitalise its investments worth Rs73.95 billion. The company has so far got approval to take its authorised capital to Rs17 billion.
The Tourism Ministry has launched the new National Tourism Strategy 2016-2025 which envisages a fivefold increase in arrivals to 2.52 million annually by the year 2025.
Vegetable prices in the Kathmandu Valley have swelled as shipments have been disrupted with heavy rainfall and landslides continuing to wreak havoc in many parts of the Tarai.
Sebon plans to introduce code of conduct to curb insider trading
Securities Board of Nepal (Sebon) is working to introduce a code of conduct for stock market participants to curb insider trading.
The Department of Drug Administration (DDA) has said that 30-40 percent of the drug stores in the country are selling restricted medicines without a prescription despite possible health hazards. despite possible health hazards.
India, traditionally the biggest foreign investor in Nepal, has slipped to third place in terms of Foreign Direct Investment (FDI) commitments.
Nepal will need an installed electricity capacity of 10,092 MW by 2030 if its Gross Domestic Product (GDP) grows at a constant 5 percent per year, a study on energy demand has revealed.
The Cabinet on Friday decided to implement “Clean Feed System” on foreign pay TV channels telecast in Nepal. The move is expected to benefit the domestic advertising market, media and related businesses.
The Civil Aviation Authority of Nepal (Caan) has started work to rehabilitate the 50-year-old runway at Kathmandu’s Tribhuvan International Airport (TIA) as it has been affecting smooth operation of aircraft due to repeated occurrences of cracks in the pavement.
Nepal slid back into a food deficit this fiscal year after recording surpluses for the last five years, largely due to a sharp drop in cereal production triggered by multiple environmental and political stresses.
Domestic airlines have urged the government to declare Kathmandu’s Tribhuvan International Airport a tax-free zone to boost the flagging aviation industry when it amends Aviation Policy 2006. The Aviation Policy comes up for its second five-year review this year.
Kathmandu residents who were forced to buy cooking gas cylinders of companies based outside the valley during last year’s fuel crisis will be able to exchange them for local brands designated by the Nepal LP Gas Industry Association.
Nepal Stock Exchange (Nepse) has extended the trading hours from three to four hours, effective from Sunday.
Govt releases monetary policy for FY 2016/17
Nepal Rastra Bank (NRB), the central bank of the country, on Thursday released the Monetary Policy for the Fiscal Year 2016/17, focusing on harmonising with the goals and priorities adopted by the budget as well as the national and international economic outlook.
Nepal Stock Exchange (Nepse) suffered a steep decline losing 30 points to 1,655 points in less than an hour on Tuesday, amid CPN (Maoist Centre) decision to withdraw its support to the KP Sharma Oli-led ruling coalition.
A Nepali eats 4.1kg per chicken and 44 eggs annually, well below the global average, according to a recent survey report titled “Nepal Commercial Poultry Survey 2014-15” prepared by the Central Bureau of Statistics (CBS).
The Insurance Board (IB) has hiked the insurance coverage amount by five times in the case of death of passengers in vehicle accidents, effective from the beginning of the next fiscal year.
Farmers are rushing to transplant paddy as monsoon rains continued to lash rice fields across Nepal.
Tourist spending and length of stay rose sharply in 2015 despite arrivals plunging to a six-year low of 538,970 due to the April 25 earthquake and subsequent Tarai protests.
The quality of the construction of the main canal of the Sikta Irrigation Project has been questioned after a section collapsed when water was released into it during a test.
Domestic airfares are likely to go up with the Civil Aviation Authority of Nepal (Caan) recommending a 19-39 percent hike in ticket prices depending on travel distance.
Nepal Stock Exchange (Nepse) escalated 200 points (13 percent) in just last one month. Continuing its bullish trend, the capital market has been posting new record almost every day.
The monsoon has spread across the entire country speeding up paddy planting and erasing fears over farm and economic growth after two straight years of drought.
Against existing laws that bar traders from disrupting the supply of essentials, bottlers of cooking gas have decided to halt importing the fuel from Tuesday.
Restoration of an area of about 7.7 sqkm under the Lumbini Area Development Project, also known as Sacred Lumbini Garden, will conclude in the next four years, according to stakeholders.
Circulation of poor-quality cooking gas cylinders has emerged as a big threat to the lives of the general public.
The construction of Gautam Buddha International Airport in Bhairahawa is likely to come to a halt after August for lack of gravel and sand as the project has been barred from extracting materials from local rivers due to disagreements over development and environmental priorities.
The government’s treasury surplus has hit an all-time high of around Rs 216 billion with government making last-minute efforts to expedite capital spending and give impetus to post-quake reconstruction works.
Bottlers have warned of halting the supply of cooking gas if the government implements its decision to ban Himalayan Petrochemicals (HP Gas) from importing Liquefied Petroleum Gas (LPG).
Inflation was back in the double-digit zone in mid-May after having cooled to single digits in mid-April following a rise in house rentals and educational expenses, Nepal Rastra Bank (NRB) said.
Nepal Stock Exchange (Nepse) on Tuesday hit new record posting daily transaction of Rs2.19 billion. It is the first time that the daily transaction in secondary market crossed Rs2 billion. Along with the daily transaction, the Nepse index also reached record high of 1,614.15 points.
The Yarshagumba harvest has fallen this season, raising concerns about a possible drop in the income of a large number of people who rely on the high-altitude wild fungus, also known as Himalayan Viagra, for their livelihood.
Nepal Stock Exchange (Nepse) on Sunday scaled to a new record with the benchmark index approaching near 1,600 points. Along with continuing its bullish run, the market also posted record daily transaction of Rs1.96 billion.
A Nepali delegation, which is currently in the US for the Joint Nepal-US Trade and Investment Framework (TIFA) Council meeting, requested the US to adopt further flexibility in the duty-free market access facility the country has offered to Nepali readymade garment products.
The government has formed a committee to study the possibility of making biodiesel from jatropha seeds.
Nepal, India agree to speed up petro pipeline project
Nepal and India have agreed to speed up the construction of a long-planned cross-border oil pipeline.
‘Terrorism financing through Nepal overstated’
Despite serious concerns expressed by the United States over Nepal’s vulnerability on money laundering and terrorism financing issues, a senior Nepal Rastra Bank (NRB) official termed the US observation an “overstatement”.
The Finance Committee under Legislature-Parliament on Friday directed the government to stop leading telecommunication service provider Ncell from expanding its business including capital increment.
Trans-national route from India to Nepal on the anvil
India is set to announce the Buddhist circuit as India’s first trans-national tourist route by incorporating Nepal’s Lumbini, an Indian media reported on Tuesday.
In the budget for fiscal year 2016-17 presented on Saturday, Finance Minister Bishnu Poudel has raised the income tax exemption limit to Rs350,000 from the current Rs250,000.
Nepal has formally proposed the idea of setting up an energy bank to India to address the recurrent problem of power shortages during the winter season.
Companies listed on the Nepal Stock Exchange (Nepse) have been instructed to submit their financial information electronically to the bourse before making it public.
Fewer new factories were registered and investments including foreign direct investment (FDI) slowed in the current fiscal as the country buckled under prolonged unrest in the Tarai, a devastating trade embargo and supply disruptions.
The Department of Food Technology and Quality Control (DFTQC) has said that bottled drinking water must be shrink wrapped in plastic from mid-June, one month later than previously announced.
Nepal Rastra Bank (NRB) has collected the financial details of 28 Nepalis who have been named in the Panama Papers as possessing offshore wealth in various tax havens as it begins a probe into their hidden holdings.
Inflation has come down to single digit for the first time after the end of the Indian blockade.
PAC to probe tax issue in sale of Ncell shares
The parliamentary Public Accounts Committee (PAC) has decided to open a formal investigation into the issue of capital gains tax in the recent sale of Ncell shares. The House panel said Friday that it was preparing to form a high-level technical probe committee to look into the matter.
108 Nepali products get duty-free access to Bangladesh
Nepal will also be providing preferential treatment to 50 Bangladeshi products that include fish and agro products
The upcoming monsoon season expected to start in mid-June is likely to be a huge relief for drought-stricken Nepali farmers who faced disappointing summer and winter harvests this fiscal year.
The government budget for the next fiscal year is likely to reach a record Rs1 trillion with the National Planning Commission (NPC), buoyed by swelling revenues and a hoard of unused funds in the government coffers, planning to raise the budget ceiling.
The government authorities said on Tuesday that they were trying to establish whether the seven names linked to Nepal that appeared in the Panama Papers database released on Monday night were real names.
Fuel import bill halves to Rs52b due to embargo
Nepal’s oil import bill has nearly halved in the first nine months of the fiscal year, but fuel still accounts for the largest share of imports.
The government on Sunday announced it will accord high priority to ending Nepal’s dependence on a “single country” in trade, investment and essential supplies, against the backdrop of four-and-half-month-long Indian embargo.
A study has recommended providing a monthly pension of Rs4,000 to farm workers after they turn 55. The proposed pension plan is part of the government’s effort to give due respect to the agricultural sector which employs 66 percent of the population and accounts for one-third of the economy.
Two hundred and eighty nine climbers are in a bid to exploit a short window of good weather, which formally begins next week, to stand atop Mt Everest. Among the bidders, 160 are new climbers.
Hit hard by last year’s Gorkha earthquake and India’s blockade, works on the Melamchi Drinking Water Project is regaining momentum.
India’s most celebrated luxury hotel chain Taj re-entered Nepal this year by signing a management contract with Chaudhary Group (CG) Hotels and Resorts to operate the Meghauli Serai Jungle Lodge in Chitwan.
Malaysian industry is facing a severe shortage of manpower two months after implementing a decision to suspend the recruitment of new foreign workers.
TeliaSonera given till May 7 to pay tax on Ncell deal
After TeliaSonera’s statement that it is not liable to pay capital gains tax (CGT) for the transfer of its stake in Ncell to Malaysian telecom giant Axiata, tax authorities in Nepal have said they will wait till May 7 for the Swedish-Finnish company to submit tax returns.
Earthquake survivors in Hetauda have started applying for concessional loans nearly a year after the government announced the scheme.
Energy Minister Top Bahadur Rayamajhi on Thursday told the parliamentary Public Accounts Committee (PAC) that a ‘quick and decisive’ step would be taken to complete all the energy projects facing longstanding execution hurdles.
Since the announcement in December last year that TeliaSonera was selling its stake in Ncell in the biggest and most complicated corporate deal, the entire divestment process has baffled the number crunchers, with questions lingering as to what happens with the capital gains tax (CGT) of the Swedish-Finnish telecom operator.
Earthquake survivor Sanchi Tamang of Irkhu-5, Sindhupalchok district has been trying for almost a year to get help to rebuild her home which was flattened by the April 25 tremor.
Inflation moderates to 10.2 percent in March
Inflation has moderated to 10.2 percent in mid-March after reaching nearly seven-year high of 12.1 percent in mid-January due to Tarai strikes and disruption of trade routes.
The Cabinet on Tuesday approved the Tourism Ministry’s proposal to acquire an additional 288 bighas of land for the expansion of Gautam Buddha Regional International Airport in Bhairahawa.
Tourists are gradually heading back to the Langtang region, which was completely devastated by last year’s earthquake.
Nepal Rastra Bank (NRB) has said that it is yet to receive any requests from banks and financial institutions (BFIs) for refinance and interest subsidy to businesses affected by last year’s earthquake and the Indian blockade.
The Agriculture and Water Resources Committee (AWRC) of the Parliament on Monday directed the government to immediately approve the proposal put forth by Ministry of Energy regarding the amount of shares to be allotted to locals residing in areas to be affected by the 900MW Upper Karnali Hydropower Project.
Simikot road construction moving at snail’s pace
It has been years since the government announced that Simikot, the district headquarters of Humla, would be connected by a motorable road, but it does not look like happening anytime soon.