Business & Economy

Bereaved families of migrant workers to get Rs 2.7mln Wednesday, January 25th, 2017

KATHMANDU: Prime Minister Pushpa Kamal Dahal said the bereaved families of migrant workers, who would lose their life during the foreign employment, would be provided with up to Rs 2.7 million as temporary life insurance. Earlier, victims’ families used to receive Rs 1.8 million only. In a press..

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India’s demonetisation drive drags down Nepal’s economy Thursday, December 15th, 2016

By Gopal Sharma and Manoj Kumar, KATHMANDU-NEW DELHI, (REUTERS): India's scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on..

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Nepal’s banks refuse to accept new Indian currency notes Friday, November 25th, 2016

KATHMANDU, (AP): Nepal's banks are refusing to accept new Indian 500 and 2,000 rupee notes because the Indian central bank has not officially informed the neighboring Himalayan nation of their issue. Nepal Rastriya Bank official Narayan Prasad Sapkota said banks in Nepal can only accept the notes..

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Nepal-US hold second TIFA council meeting Friday, June 17th, 2016

Washington D.C.: The second U.S.-Nepal Trade and Investment Framework (TIFA) Council Meeting has affirmed that the bilateral trade and investment relationship has great potential and could be realized through adoption of enabling policies.  The meeting was co-chaired by United States Trade..

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Finance Minister Poudel presents fiscal year budget Sunday, May 29th, 2016

KATHMANDU: Finance Minister Bishnu Paudel on Saturday presented the annual budget for the next fiscal year 2016/17. Minister Says, Nepali economy shrank due to earthquake and blockade. Beginning his announcement at the Parliament, the Minister said he prepared the budget in consultation with..

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Govt to present budget today Saturday, May 28th, 2016

KATHMANDU: The government has decided to present the budget for the fiscal year 2073/74 B.S. at the legislature parliament on Saturday. A meeting of the Council of Ministers held at the Prime Minister’s Residence at Baluwatar this evening took the decision in this regard, said Minister for..

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14th Development Plan Targets 7% Economic Growth Tuesday, May 17th, 2016

KATHMANDU: The forthcoming 14th three-year development plan to remain in effect from 2073-74 to 75-76 BS has set a target of attaining seven per cent economic growth rate. The draft of the plan was endorsed by the two-day meeting of National Development Council that kicked off Sunday. The meeting..

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PM Oli asks businessmen of Shaanxi to invest in Nepal Saturday, March 26th, 2016

Shaanxi, CHINA: Prime Minister KP Sharma has asked the Chinese businessmen to invest in Nepal. Addressing a business community meeting at Hotel Shangri-La on Friday, Prime Minister Oli said that an environment conducive has been created for foreign investment in Nepal. He said, "Xi'an is origin..

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China to look at free trade, rail deal with Nepal Monday, March 21st, 2016

BEIJING, (REUTERS): China agreed on Monday to consider building a railway into Nepal and to start a feasibility study for a free trade agreement with the impoverished, landlocked country, which has been trying to lessen its dependence on its big neighbor to the south, India. The Himalayan nation,..

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US opens floodgates to Nepalese exporters in a big relief Thursday, February 25th, 2016

KATHMANDU: The United States (US) has approved a legislation to provide duty-free access to up to 66 types of Nepali products to the American market. According to a press release posted on the website of the US embassy in Katmandu, US President Barak Obama on February 24 signed the Nepal Trade..

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Nepal ends fuel rationing after supply from India improves Tuesday, February 23rd, 2016

KATHMANDU, (Reuters): Nepal ended months-long fuel rationing after supply from India improved, following the end of a border blockade by ethnic protesters against a new constitution, an official said on Tuesday. Relief came as Prime Minister K.P. Oli visited India, where he met Indian counterpart..

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Nepal, China agree on wider cooperation Saturday, December 26th, 2015

KATHMANDU: Today Nepal and China agreed to expand and consolidate bilateral cooperation focusing mainly on trade, transit, investment, energy, tourism and infrastructure development, according to a statement issued by Nepal’s Foreign Ministry. The agreement was reached during a meeting between..

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Nepal seeks China’s support to escape energy crisis

BEIJING, (REUTERS): Nepal's foreign minister asked China on Friday for help in dealing with an energy crisis that crippled the landlocked country over the past three months and China said it would look at the request favorably. The Himalayan nation, which serves as a natural buffer between China..

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Chinese minister assures petroleum supply to Nepal Thursday, December 17th, 2015

KATHMANDU: Agriculture Vice-Minister of the People’s Republic of China Qu Dongyu on Thursday assured Nepal that the northern neighbour was ready to support Nepal with a high priority to ease the petroleum supply as it was a good neighbour. In a meeting with Minister for Commerce and Supplies..

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