A grounded Airbus aircraft of Nepal Airlines Corporation (NAC) is expected to resume service on Thursday as its damaged engine has been replaced.
Nepal Electricity Authority (NEA), the state-owned power utility, has achieved fair bit of success in curbing electricity theft in Lalitpur district. In the last few weeks since NEA upped the ante against locals of the Lalitpur district involved in electricity theft, the power utility has collected around Rs1.5 million in fines.
The Tourism Ministry is at loggerheads with the Civil Aviation Authority of Nepal (Caan) over issuing and renewing licences to fly international routes.
Nepal Stock Exchange (Nepse) index gained 5.57 points to close at 1,411.52 points last week.
An Airbus A320 belonging to Nepal Airlines Corporation (NAC) has been stuck at New Delhi, India due to a damaged engine with few chances of its resuming operations any time soon.
Did the central bank make a mistake by not pushing for merger of banks and financial institutions when recapitalisation process began in the banking sector two-and-a-half years ago?
The fate of 400kV New Butwal-Gorakhpur cross-border transmission line hangs in balance, as India is dragging its feet to build the crucial infrastructure that can further stimulate electricity trading between Nepal and the neighbouring country.
The Nepal Electricity Authority’s (NEA) plan to diversify the energy mix by launching 22 grid-connected solar projects with a total installed capacity of 61 MW is in limbo due to the government’s policy inconsistency.
Nepal’s move from unitary to federal government system has enabled local bodies and provinces to design policies, make decisions, introduce budget and deliver public goods and services on their own.
Former British Gurkha soldier Hari Bahadur Magar, who lost both his legs during a war in Afghanistan, has decided to shelve his dream of conquering the world’s tallest peak for now, thanks to the government’s latest decision to bar people with disabilities from scaling mountains.
Tourism Minister Jitendra Narayan Dev has hinted at plans to revoke the order tightening rules for differently-abled people from attempting to climb Mt Everest.
Nepal earned Rs29.32 billion in foreign exchange from the tourism industry in the first five months of this fiscal year 2017-18, according to the latest figures released by Nepal Rastra Bank (NRB).
Nepal’s trade deficit swelled to Rs397.79 billion between mid-July and mid-December, up 13 percent year-on-year, as imports ballooned and exports slowed.
The Japan International Cooperation Agency (Jica) has been assisting state-owned power utility Nepal Electricity Authority (NEA) and its subsidiary Tanahu Hydropower to carry out a preliminary feasibility study to build two pumped storage projects.
The Inland Revenue Department (IRD) has enforced the guideline on electronic billing system with the aim of eventually implementing it at all points of sale.
Officials leave for Brussels to lift European airspace ban
High-level officials of Nepal’s civil aviation authority left for the Belgian capital of Brussels on Wednesday to persuade the European Commission (EC) to lift the order that has barred Nepali airline companies from flying in the skies of major European countries.
Riverbed materials such as sand, pebbles and stones are being extracted illegally without permission from local authorities in many parts of the country. Indiscriminate exploitation of river-based resources not only hits government revenue but also poses environmental hazards.
Nepalis are eating less rice compared to a decade ago as changes in eating and spending habits take hold.
Jungle safari operators in Chitwan and Nawalparasi say that they will go out of business if the government gives in to demands from animal rights activists to ban elephant-back tours.
Thirteen hydropower projects have sought permission from the Securities Board of Nepal (Sebon), the securities market regulator, to float shares worth Rs3.6 billion in the primary market.
The government’s decision to ban blind climbers from joining Everest expeditions has run into flak from the National Federation of the Blind, the World Blind Union and the National Federation of the Disabled,
Arrivals to Nepal hit a new record in 2017 but remained short of the much ballyhooed target of 1 million individuals as national elections in November and December resulted in weaker-than-expected growth, the Department of Immigration said.
Foreign Direct Investment (FDI) of Rs 151 billion has entered the country so far, according to a study conducted by the Nepal Rastra Bank.
Tomato farmers have been rejoicing as favorable climatic conditions have led to a bumper harvest. Every day, farmers are supplying more than 50 tonnes of tomato to different parts of the country and pocketing over Rs1 million per day. Sarlahi is famous in the country for tomato cultivation.
Nepal Oil Corporation (NOC) has said it might need to hike fuel prices again after ramping up the rates for the third time in a month, moaning that its projected loss for January stands at a staggering Rs264 million.
Nepal Stock Exchange (Nepse) index witnessed a roller coaster ride this year as the market went from highs to lows in an eventful year that consisted of multiple elections, fluctuations in bank’s interest rates, regulatory measures by Securities Board of Nepal (Sebon) and more.
High-level officials of the Civil Aviation Authority of Nepal (Caan) will be meeting with members of the European Commission (EC) in Brussels, Belgium on January 19 to explain the steps taken by Nepal to address safety deficiencies following the continuation of its ban against Nepali airlines.
From now on, things are going to be tougher for Mt Everest aspirants as the government, in an attempt to improve safety of climbers, has announced some major changes in its policy.
The Asian Development Bank (ADB) has warned that it might pull out of the Gautam Buddha Airport project in Bhairahawa due to the extremely slow pace of progress. Work at Gautam Buddha Airport, which is being upgraded to an international airport, has slowed to a crawl, and the project has been floundering for four years.
The government has spent Rs 340 billion in the first six months of the current fiscal year, which is around 27 per cent of the total budget.
Sugar mills in Sarlahi have started purchasing sugarcane from farmers without fixing the price of the crop.
The state-owned Dairy Development Corporation (DDC) has produced 33.9 tonnes of cheese and 11.7 tonnes of butter made from yak’s milk from its plants located in four different locations in Rasuwa district this year.
About half of the gasoline stations operating across the country do not meet government safety norms, the Nepal Bureau of Standards and Metrology (NBSM) said. Lack of clear policy has resulted in poor inspection of these refilling stations which pose a public safety hazard.
Around 29 out of every 100 people living in Nepal are poor, with Province 2 hosting the largest number of poverty-stricken people in the country, a latest report of the National Planning Commission (NPC) says.
Hulas Auto-craft, a subsidiary of the Golchha Organisation, has been assembling the Bajaj Discover 125 two-wheeler made in India at a Rs700 million plant in Ramgram, Nawalparasi district.
Good governance. Jobs. Development. These are three areas the new government is likely to focus on if speech delivered by KP Sharma Oli on Monday is anything to go by.
Hydroelectricity production has taken a hit due to reduced water levels in the rivers with the dry season in full swing. Officials said energy output had shrunk up to 35 percent.
Nepal’s oil import bill for October-November jumped 40 percent due to a surge in demand during the federal parliament and provincial assembly elections with candidates hitting the campaign trail in motor vehicles, helicopters and airplanes.
Onion prices in Kathmandu have shot up because they have become dearer in India and not because of crooked middlemen, the Department of Supplies Management (DoSM) said. The southern neighbour is Nepal’s largest supplier of the indispensable vegetable.
Investment Board Nepal (IBN) has asked the Energy Ministry for the implementation rights for the Betan Karnali and Bheri-1 hydropower projects as it has the sole authority to execute schemes with a capacity of 500 MW or more.
The curtain has finally been drawn on Nepal’s most popular but unusual sport known as elephant polo, which is played every winter on a grass field in Meghauli, Chitwan, after 35 years.
The government has been toying with the idea of allowing the private sector to operate Gautam Buddha Airport in Bhairahawa under a public-private-partnership (PPP) model.
China Gezhouba Group Company (CGGC), the ousted contractor of the $2.5-billion Budhi Gandaki Hydropower Project, has called on the government to revisit its decision to terminate the contract, stating the process of its removal was “invalid”.
The government on Friday decided to develop the Budhi Gandaki Hydropower Project on its own, nearly two weeks after it terminated the contract agreement with the China Gezhouba Group Corporation (CGGC) to build the country’s largest hydroelectric project.
Nepal and Bhutan appear well on track towards achieving universal access to electricity by 2030, according to the latest report on transformational energy access of the Least Developed Countries (LDCs), which has reviewed 47 LDCs.
Nepal’s air traffic control (ATC) can now monitor the country’s entire airspace and keep track of aircraft from the Himalaya to the Indian border using an advanced radar system recently built on a hilltop in Lalitpur.
Wataniya Airways of Kuwait has decided to operate direct flights to Nepal as it moves to cater to growing travel demand with Nepali migrant workers rushing to the oil-rich country in larger numbers.
The Ministry of Finance has proposed to set up the Public Expenditure Review Commission, which will recommend ways to raise income generating capacity and reduce expenditure of the three tiers of the government,
The 15th Handicraft Trade Fair and 13th Craft Competition concluded on Tuesday, recording transaction of more than Rs80 million.
The Nepal Rastra Bank, the central bank, is floating foreign employment saving bonds worth Rs500 million on Sunday, as a part of the government’s plan to raise domestic debt worth Rs145 billion in the current fiscal year.
The private sector on Monday unveiled its wish list for the next administration, demanding that the government to be formed after the election formulate effective policies to check corruption, slash bank interest rates, prioritise promotion of small and medium enterprises and promote quality tourism.
There is bad news for new companies planning to enter the domestic aviation market and old players mulling over increasing fleet size, as a study has found that existing infrastructure of the country’s domestic airports will not be able to accommodate more aircraft for at least two years.
Paddy production in the eastern region, the country’s food basket, has been projected to swell 10 percent this year despite the damage caused to farms by the August floods, the regional Agricultural Development Office said.
Nepal’s energy sector, which is still feeling the pangs of this week’s cancellation of biggest hydropower development agreement, has received a much-needed shot in the arm with the signing of a major deal with a leading Chinese firm that would almost double the country’s electricity generating capacity.
The long-held plan to expedite construction of $2.5-billion Budhi Gandaki Hydropower Project is unlikely to materialise anytime soon, as the government has scrapped an agreement signed with a Chinese company hired to build the 1,200-megawatt project.
The Public Service Commission (PSC) has poured cold water on the plan of the central bank to immediately scrap a provision that makes it mandatory for employees to retire after completing 30 years of service.
Nepal will need to fork out at least Rs73.2 billion to rebuild infrastructure and restore livelihood affected by the floods of mid-August, says a latest report prepared by the National Planning Commission (NPC), the apex body that frames the country’s development plans and policies.
Norvic International Hospital at Thapathali has been collecting 13 percent service charge which is illegal, the Department of Supplies Management (DoSM) said.
The Chinese government has shown interest in funding the second phase of the Kathmandu Ring Road Improvement Project which includes upgradation of a 17-km stretch linking Kalanki, Chabahil and Koteshwor.
The Aviation Safety Committee meeting of the European Commission (EC) will discuss Nepal’s aviation safety issue on November 13-15 in Brussels, Belgium, to assess the progress made by the country’s carriers and civil aviation authority.
The construction of the new aviation museum at Sinamangal, Kathmandu, has completed and is ready to welcome visitors. The museum was built by the Bed Upreti Trust and Civil Aviation Authority of Nepal (Caan) after success of similar museum built by Captain Bed Upreti in the mid-western district of Dhangadi.
Imagine your air conditioners, washing machines or induction cookers came with chips or devices that could store electricity.
Nepali Congress, the oldest political party of Nepal, has started advocating for wealth redistribution programmes and social insurance schemes, as it introduces itself as a socialist party through its election manifesto, which envisages creation of a welfare state.
The owners of branded apparel stores on Durbar Marg who have been accused of overcharging customers have not reported to the Metropolitan Police Range, Teku despite repeated reminders.
Revenue collection during the first quarter of the current fiscal year was up 24 percent year-on-year, the Inland Revenue Department (IRD) said.
Nepal may face shortage of 3.6 million workers by 2030 if people continue to take up jobs in foreign labour markets, creating hurdles for nation’s transformation into a middle-income economy in the next 13 years as envisaged by the government, a latest report says.
It is appalling that the Nepal Rastra Bank (NRB), the central monetary authority, is treating cyber heist at NIC Asia Bank lightheartedly.
A day before cybercriminals hacked into the IT server of NIC Asia Bank to reportedly steal millions of rupees, another major commercial bank had witnessed suspicious activities of similar nature.
The Nepal Electricity Authority (NEA) has been working to ensure that there is adequate and uninterrupted power during the Tihar festival when demand for energy spikes with everybody draping their houses with strings of lights.
Officials at Tribhuvan International Airport (TIA) are worried by frequent runway damage even though the monsoon has ended.
The Election Commission (EC) on Tuesday allowed the Ministry of Supplies to implement its decision to transfer controversial Nepal Oil Corporation Managing Director Gopal Bahadur Khadka to the ministry.
The Inland Revenue Department (IRD) has taken action against 615 businesses for tax evasion as it intensifies market monitoring to prevent noncompliance.
Melting glaciers have eroded huge swathes of land in the Annapurna Base Camp over the years, casting a shadow over the prospects of trekking in the world-renowned Annapurna circuit.
Ginger worth Rs5 million has been stranded in Mechi Customs Office after Indian customs officials imposed goods and services tax of 5 percent on the Nepali spice.
Nepal has held on to the top position among South Asian countries in the campaign to reduce hunger.
Controversial Nepal Oil Corporation (NOC) Managing Director Gopal Bahadur Khadka has moved to buy additional land in Chitwan despite still facing embezzlement charges in earlier land deals that recently led to his being fired from his post.
The Nepal Electricity Authority (NEA) has extended the completion deadline of the Kulekhani 3 Hydropower Project for the fifth time to January 2018 as construction has been running late due to its slowpoke contractor.
The International Monetary Fund (IMF) has come up with the most optimistic economic growth estimate for Nepal among multilateral institutions, projecting expansion of gross domestic product (GDP) by 5 percent in the current fiscal year.
The Ministry of Culture, Tourism and Civil Aviation has rolled back its decision to transfer Sanjiv Gautam, director general of the Civil Aviation Authority of Nepal (Caan),
In a major turn of events, the Supreme Court on Sunday reinstated Gopal Bahadur Khadka, who has been charged of embezzling over Rs800 million in land purchase deals, to the post of managing director of Nepal Oil Corporation (NOC).
The Tribhuvan International Airport (TIA) has witnessed a solid growth in the first half of 2017, setting the stage for receiving a record number of flyers this year.
The flood-damaged bridge at Mirjungghat, India is set to resume operation from Saturday after Indian authorities completed repair works. The bridge had seriously affected Nepal-India trade via Biratnagar border point.
The Metropolitan Police Range (MPR), Teku, is preparing to file cases against the unscrupulous traders of Durbar Marg, who have been accused of charging exorbitant prices for the goods they were selling.
The government has decided to retain the Chinese contractor for Gautam Buddha Airport in Bhairahawa as the company has started to show satisfactory progress.
The nine branded stores on Durbarmarg that were sealed by the Ministry of Supplies on the charge of overpricing have reopened for business after 20 days. They have been allowed to resume operations without facing any legal action under direct orders from Supplies Minister Shiva Kumar Mandal.
Sales of goats in the Kathmandu Valley are likely to increase by 8 to 10 percent this Dashain, the biggest festival of Hindus in the country. The Valley saw sales of around 50,000 goats during the last festive season, which lasts for 15 days.
Nepal Airlines Corporation (NAC) has begun work to bring the remaining two Chinese aircraft of the six on order as now it has pilots to fly them. A NAC technical team is scheduled to leave for China after the Dashain festival to inspect the planes.
The construction of a long-planned expressway linking Kathmandu and the Tarai will be a test of the Nepal Army’s capability as it will be an engineering achievement, experts said on Wednesday.
The government has planned to distribute relief money to farmers in the 30 districts where crops were destroyed by the August floods before the Dashain festival which begins next week.
Many newly-formed local bodies in the country may not be able to deliver public services effectively and efficiently, as they have limited independent income sources to cater to people’s needs, says a latest World Bank (WB) report.
Nepal Stock Exchange (Nepse) index shed 24.24 points, or 1.6 percent, last week to close at 1530.31 points on Thursday, the last trading day of the week, as demand for shares of banks, hydropower companies and insurers fell.
Nepal Electricity Authority (NEA), the state-owned power utility, is mulling a six-month deadline extension to one of the contractors of the Kulekhani 3 Hydropower Project to complete all the construction works.
Nepal has signed an agreement with the US government on Friday to secure a grant of $500 million (approximately Rs51.5 billion) at Washington DC, USA on Thursday.
Tunnel boring machine to dig under Chure hills
The Bheri Babai Diversion Multipurpose Project has become the first project in the country to import a tunnel boring machine. The equipment will be used to dig a 12-km tunnel under the Chure hills to transfer water from the Bheri River to the Babai River.China Overseas Engineering Group, the contractor hired to develop the project, brought the tunnel boring machine manufactured by Robbins Company of the US to the project site on Tuesday.
Importers of liquefied petroleum gas (LPG) have warned that they will launch a protest from September 17 if the government does not take decisive steps to obtain explosive licences for Nepali gas bullets from Indian authorities.
Supplies Minister Shiva Kumar Mandal on Friday said the government would take stern action against stores on Durbar Marg found cheating customers.
Tribhuvan International Airport (TIA) has failed miserably to utilise over Rs5.3 billion collected from air passengers for development of its crumbling infrastructure.
A delegation from the Asian Infrastructure Investment Bank (AIIB) is visiting Nepal as early as this month to appraise the rural electrification project in the western region and a hydropower project, which the government is planning to build using soft loan provided by the China-funded multilateral lender.
The parliamentary Public Accounts Committee (PAC) has decided to launch a formal investigation into delays in the upgradation of airport project in Bhairahawa as uncertainty over completion of the project within the extended deadline looms large. The project completion deadline has already been extended twice.
The exposure of commercial banks to overdraft, a loan product considered highly risky by the banking sector regulator, is increasing rapidly, with the credit making a contribution of as high as 37 percent to the total loan portfolio of a bank.