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.
India Banknote Ban: Govt clueless about IC exchange facility
The December 30 deadline issued by the Indian government to deposit banned Indian banknotes of 500-rupee and 1,000-rupee denominations in financial institutions is fast approaching,
A Japanese company has expressed interest in developing the Tamakoshi III Hydropower Project, which has been in limbo after Norway’s Statkraft pulled itself out of the project in January.
Nepal’s trade deficit doubled in the first four months of the current fiscal year, as imports surged following a significant jump in consumer demand after the end of the Indian blockade.
The Kathmandu District Court on Friday rejected the appeal of Spanish firm Constructora Sanjose, the contractor for the Tribhuvan International Airport (TIA) improvement project, seeking a prohibitory order against the termination of its contract.
Average prices of goods and services rose at the slowest pace in almost a decade in November, as food inflation eased and transportation and communication costs fell.
Export earnings from handmade products surged 19 percent in the first four months of the current fiscal year, thanks to sustained demand from markets like China, the US and Europe.
Air travellers may be celebrating the upcoming holiday season by paying more for plane tickets. The Civil Aviation Authority of Nepal (Caan) has approved a flat 24 percent hike in domestic airfares that will go into effect in two weeks, Tourism Ministry sources said.
As the first phase of the Melamchi Drinking Water Project moves closer to becoming a reality, the Asian Development Bank (ADB) on Thursday announced it was stepping up part two of the scheme that will ensure 24/7 water supply in parched Kathmandu.
Domestic airlines followed up on a drop in aviation fuel prices by slashing fuel surcharges on Tuesday.
The Nepal Oil Corporation (NOC) on Monday slashed prices of aviation fuel sold to international and domestic carriers each by Rs 8 per litre, raising the spectre of reduction in air fare at least in the domestic sector.
The Energy Ministry has started the process of sacking three board members of Nepal Electricity Authority (NEA) on charges of obstructing the reform process initiated by NEA Managing Director Kulman Ghising, who is credited for getting rid of hours-long power cuts from the Kathmandu Valley.
Tourism in the popular jungle safari destination of Sauraha has rebounded with a vengeance after suffering a series of disasters last year.
The Nepal Stock Exchange index that continued to suffer in earlier days, witnessed a surge by 2.88 percent to 43.52 points on Tuesday. The sensitive index climbed to close at 1,553 points.
Three weeks on, Nepal awaits India’s response
It has been almost three weeks since the Indian government banned circulation of 500- and 1,000-rupee banknotes,
The much-touted West Seti Hydropower Project may not generate as much electricity as expected, as the Chinese developer has signalled downward revision on its installed capacity, citing drop in water level in the river.
Jeffrey D Sachs, a world-renowned professor of economics and a global leader in health policy and sustainable development, is visiting Nepal this weekend at the invitation of the National Planning Commission (NPC), the apex body that frames the country’s development plans and policies.
Nepse plunges 64.55 points on Sunday
Continuing its bearish trend, Nepal Stock Exchange (Nepse) plunged 64.55 points on Sunday too.
Average monthly spending by Ncell customers dropped by Rs57 each in the third quarter of 2016 as Nepal’s largest private telecom company slashed tariffs for voice and data packages.
The Nepali rupee has recovered slightly after hitting an all-time low against the US dollar as the Indian rupee, to which it is pegged, closed stronger as the week ended.
Draft of Civil Aviation Bill sent to Tourism Ministry
The proposed Integrated Civil Aviation Bill 2016 has moved a step forward with a draft being sent to the Tourism Ministry on Wednesday for its examination.
The flow of money into the economy has surpassed outflows for the first time in three months of the current fiscal year, as foreign direct investment posted a robust growth and remittance income went up moderately.
Nepal became the world’s fifth largest producer of lentils in 2014, moving up one spot from 2013 after US lentil output suffered a sharp drop of 33 percent.
Life thrown into turmoil after India note withdrawal
The ban on Indian Rs500 and Rs1,000 banknotes has hit Nepal’s trade and business activities besides making life hard for students and people travelling to India for pilgrimage and medical treatment.
Nepal Stock Exchange (NEPSE) suffered a whopping decline of 40.32 points to close at 1658 points on Thursday. The NEPSE had witnessed an opening of 1700 points.
A farmer has produced “G60 black rice” for the first time in Sindhupalchok district.
The Ministry of Supplies has started laying the groundwork to build petroleum storage plants in all 75 districts of the country.
Cardamom trading has virtually come to a halt in the eastern parts of Nepal following a 50 percent drop in the spice’s price.
The Federation of Gold and Silver Dealers’ Association (Fenegosida) has criticised commercial banks for not importing smaller unit gold bars despite getting the green signal from the government. Their reluctance to do so has prevented small traders from buying bullion from banks, the federation said.
Nepal has urged China to ease the process of importing petroleum products from the northern neighbour.
Frantic crowds cross border to unload Indian currency
Frantic crowds have started besieging banks and shops at Nepal-India border points like Sunauli and Nautanwa to exchange their 500- and 1,000-rupee Indian banknotes, terrified that they were going to become worthless.
For the first time in nearly two decades, the govt has set minimum support price of common paddy at Rs2,230 per quintal and of ‘mota dhan’ at Rs2,070 per quintal
Eleven international firms had submitted bids to supply two long-range wide-body passenger jets to Nepal Airlines Corporation (NAC) when the deadline ended on Wednesday.
RBI seeks stock of 500 and 1,000 Indian banknotes within Nepali financial system
Reserve Bank of India (RBI) on Thursday asked Nepal Rastra Bank to inform the former about the stock of Indian currency in denomination of 500 and 1000 within the Nepali financial system.
Nepal Rastra Bank (NRB), the central bank of the country, has stated there are around 33.6 million Indian currency notes of Rs 500 and Rs 1000 denominations with the banks and the financial institutions across the country.
Nepal Rastra Bank (NRB) on Tuesday summoned representatives of banks and financial institutions (BFIs) and asked them to expedite the process of making electronic card-based financial transactions more secure.
Not only the public sector, but the private sector too was victimised by the Commission for the Investigation of Abuse of Authority (CIAA) under now-suspended Lok Man Singh Karki, it has been revealed.
India reportedly wants to hold talks this month on adopting an Open Skies policy, but Nepal appears to be hesitant to take the plunge.
The government has initiated the process of opening a consul general’s office in Visakhapatman to facilitate Nepali traders importing or exporting goods via the Indian state of Andhra Pradesh.
IB plans allow non-life insurers to sell cardamom insurance policies
The Insurance Board (IB) plans to allow non-life insurance companies to sell cardamom insurance policies in a bid to provide protection to cultivators growing the cash crop, the insurance sector regulator said.
Last Monday, a few agro traders and middlemen gathered in front of Atithi Sadan in Biratnagar. After nearly an hour of discussions, they came to a conclusion on paddy prices.
Pokhara is on track to self-sufficiency in flowers with 80 percent of its current requirement being fulfilled by local production.
Domestic adventure seekers throng Annapurna Circuit
The world famous Annapurna Circuit trekking route has been a big draw for foreign adventurers for decades, but now the scenic walking trail in the Annapurna mountains of central Nepal has been pulling domestic thrill seekers in droves too.
Nepali airlines are facing a shortage of senior pilots with the aviation industry ending a long period in the doldrums and suddenly taking off amid a spurt in travel demand.
Nepal has topped Lonely Planet’s “Best Value Destination” list and has ranked 5th on the “Top Ten Destinations Guidebook”.
Nepal Telecommunications Authority (NTA) has authorised state-run Nepal Telecom (NT) to launch 4G service in Kathmandu and Pokhara from January 1, 2017.
Mangre Yadav, a local farmer in Hirminya, Banke, has already harvested paddy this season and is preparing his land for winter crop -- either lentil or potato. His neighbours, on the other hand, have paddy plants still standing in their fields.
Nepal should immediately focus on creating more jobs within the country to bolster the economy, as the era of remittance-led growth is likely to come to an end, US Ambassador to Nepal Alaina B Teplitz has said.
Bhawani Rana is certain to assume the president post of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) from coming March after a special general assembly endorsed the amended charter of the institution on Thursday.
Nepal Airlines moved up to the second spot in international passenger carriage, marking a massive turnaround after years in the wilderness.
Imports of vegetables and other farm products through Nepalgunj Customs have soared as local production has fallen amid swelling demand, local stakeholders said.
The International Civil Aviation Organization (Icao) has agreed to send another expert to Nepal to help it deal with the ‘airworthiness’ issue, one of the eight critical elements of an effective safety oversight.
GHI rates Nepal’s hunger as ‘serious’
Nepal has made significant progress in reducing hunger in the last two and a half decades, but its hunger level still remains classified as ‘serious’.
The gold transaction has surged in the wake of diminution of its market value after the start of the Bada Dashain festival, Nepal Gold & Silver Dealers' Association said.
Domestic carriers posted double-digit growth in passenger carriage in the first half of 2016,
Prime Minister Pushpa Kamal Dahal on Friday laid the foundation stone for a pilot project on integrated settlement for survivors of the earthquakes of April and May, 2015 at Gupsipakha, Laprak.
Plans are afoot to establish two more oil depots as part of the government’s plan to increase reserves of petrol, diesel, kerosene and aviation fuel for at least three months of consumption.
The World Bank (WB) has urged the government to improve the organisation structure of state-owned Nepal Electricity Authority (NEA) for the development of the power sector.
The construction of the 220kV Chilime-Trishuli transmission line project began on Wednesday, which will help in evacuation of electricity generated from Trishuli river basin.
Nepalis living along the border with India have been streaming to nearby Indian towns to do their festival shopping as the country’s biggest religious celebration Dashain gets underway.
Tiger Palace Resort, a Rs4-billion five-star casino resort newly completed in Bhairahawa, plans to throw open its doors by the first quarter of 2017.
Travelling to foreign destinations during the festive season has lately become a popular trend among Nepalis. This year too, thousands of Nepali tourists are packing their bags for various international destinations for Dashain and Tihar holidays.
All domestic flights out of Kathmandu have been sold out as the Dashain travel rush, the largest annual migration in Nepal, begins.
Goat traders expect a sales bonanza this Dashain after business went flat last year as supplies were disrupted by an Indian embargo, and a country shell-shocked by a killer quake toned down celebrations.
Birgunj dry port's revenue collection exceeds target
The revenue collection by the Birgunj Dry Port, country's dry sole port equipped with railway services, in the first two months of the current fiscal, has exceeded targets.
The national flag bearer plans to add the first of the two proposed jets by Sept and another six months later
The difference between inflation rates in Nepal and India narrowed down to a 10-month low of 3.5 percent in August, indicating that effects of the unrest in the Tarai and trade blockade imposed by the southern neighbour that drove up consumer prices have waned.