Business & Economy

Infrastructure woes persist after deadly Nepal quake Monday, May 4th, 2015

KATHMANDU: Runway damage forced Nepalese authorities to close the main airport Sunday to large aircraft delivering aid to millions of people following the massive earthquake, but U.N. officials said the overall logistics situation was improving. The death toll climbed to at least 7,040, including..

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Entrepreneurs agree to slash transport fare by Re 1 only  Thursday, March 5th, 2015

KATHMANDU: The transport entrepreneurs have decided to reduce the transport fare only by Re 1 instead of the government-decided rate of Rs 2 from Rs 15 per four kilometers. The decision on fare reduction by transport entrepreneurs comes a month after the government´s decision on the same. The..

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IPB approves development of hydropower projects Tuesday, February 17th, 2015

KATHMANDU: The Nepal Industrial Promotion Board (IPB) has approved the development of hydropower projects in the county. The proposal to develop 92% FDI-funded 65MW Kaligandaki Upper hydro project has been approved by IPB chaired by Industry Minister Mahesh Basnet during a meeting, reports E..

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Nepal Set To Sign US$698-Million Aid Pact Friday, February 13th, 2015

KATHMANDU: The United States and Nepal are set to sign a 'compact agreement' to provide an additional US$698 million aid for the development of Nepal's energy and physical infrastructures. Nepal and the US are preparing to sign the deal after the board of Millennium Challenge Corporation (MCC), an..

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ADB asks Nepal to draft constitution at the earliest Tuesday, February 3rd, 2015

KATHMANDU: The Asian Development Bank today appealed to Nepal's government and warring political parties to draft a constitution at the earliest to ensure stability and economic development.  "It is very important for Nepal to draft a constitution based on the ideas of the people at the..

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China augments annual assistance by 433 per cent Friday, December 26th, 2014

KATHMANDU: China has augmented its annual assistance to Nepal by 433 per cent. The announcement was made after the bilateral meeting held here this afternoon. During the meeting led by foreign ministers of both countries, China agreed to provide financial assistance of 800 million RMB from 150..

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China Breaks India Monopoly on Nepal Economy as Investment Grows Monday, December 15th, 2014

By Natalie Obiko Pearson, KATHMANDU: In the dusty outskirts of Kathmandu, south of the Himalayan mountain range that holds the world’s highest peaks, Chinese engineers in orange hard hats oversee construction of Nepal’s first eight-lane highway. The $45 million upgrade of a road circling the..

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Nepal selected for US Compact grant Saturday, December 13th, 2014

Prakash Adhikari, KATHMANDU: Nepal selected for The United States Millennium Challenge Corporation programme (MCC). The MCC Board meeting, held in Washington DC on Wednesday, selected Nepal for the US government’s multi-year agreements to fund specific programmes targeted at reducing poverty and..

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Nepal, India to sign deal for 900 MW Arun power project Sunday, November 16th, 2014

KATHMANDU: Nepal and India are likely to sign an agreement for the construction of a 900 MW power project during the visit of Indian Prime Minister Narendra Modi for the upcoming SAARC summit Kathmandu. The agreement for the Arun Hydropower Project being developed by Satluj Vidyut Nigam will be..

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Nepal’s coffee farmers count cost of beetle attack Monday, October 27th, 2014

Ian Bickis, Chandanpur: Shiva Prasad Ghimire waited five years for the coffee plant in front of him to start producing beans, but it took him only a moment to hack off a branch heavy with green and red coffee cherries. He had no choice. A tiny hole in the branch was an early sign that the tree was..

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