Kathmandu / Sept 7: The government is extending the timeline allowing banks to consider up to 80 percent of the reserve funds of local governments in their deposit by another six months, citing the deepening liquidity crisis with the banks. Last December, the government increased the limit for the banks to consider the funds released […]
Kathmandu / Sept. 6: The Kathmandu Upatyaka Khanepani Limited (KUKL) has annulled a contract with Safbon Water Service (Holding) Inc (SWSHS), Shanghai, after the Chinese construction company failed to accomplish its task according to the contract. The KUKL had awarded SWSHS with a contract to construct water purification plants in Sallaghari of Bhaktapur and Balkumari […]
Kathmandu / Aug. 29: The Government and the World Bank (WB) today signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). The proposed budgetary support aims to support improvements in the enabling environment in Nepal toward green, climate-resilient, and inclusive development. This is the […]
Kathmandu / Aug. 21 : Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has said that the export of agricultural products should be increased to solve the problem of foreign exchange reserves. In the aftermath of the COVID-19, amidst growing imports, the country is facing external […]
Ajay Chhetri / Kathmandu, Aug. 16: Foreign exchange reserve has dropped below the warning benchmark as it is now sufficient merely for the import of goods and services for 6.9 months. According to the annual data 2021/22 released by Nepal Rastra Bank (NRB) on August 16, the foreign exchange reserve declined by 15 per cent […]
Kathmandu / Aug. 16: Nepal Rastra Bank (NRB) has increased the threshold of money remitted from abroad on a daily basis from Rs 1 million to Rs 1.50 million. Revising a unified directive on Monday, the central bank has increased the limit of remittance earned by an individual as an income for selling goods, commission, […]
Kathmandu / Aug. 2: The Confederation of Nepalese Industries (CNI) has urged the government to annul the decision to raise the rental charge of lands inside the industrial estates. In a meeting with Minister for Industry, Commerce and Supplies Dilendra Prasad Badu on Tuesday, the entrepreneurs urged the government authorities to come up with a […]
Kathmandu / July 22: Nepal Rastra Bank (NRB) has set the inflation rate of 7 per cent for the fiscal year (FY) 2022/023. The NRB said so while unveiling the monetary policy for the FY 2022/23 on Friday. The NRB target to limit inflation to 7 per cent is lower than the actual inflation of […]
Kathmandu / July 21: Nepal Electricity Authority (NEA) has projected that Nepal will be exporting 2,456.4 MW of electricity to India in the peak production season after the next four years, provided all hydroelectricity projects in the pipeline complete their construction works within the prescribed timeline. Currently, India has allowed Nepal to sell 364 MW […]
Kathmandu / July 20: Nepal Rastra Bank (NRB) has tightened the dollar exchange service. With the move of the central bank, now the Nepali citizens who are going to travel abroad can only exchange USD 200. NRB has reduced the exchange limit following pressure on the foreign exchange reserves. Earlier, the same facility was available […]
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Kathmandu, Nepal
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Editor : Mr. Divesh J.B. Rana
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