Business & Economy

Bangladesh, Nepal setting up state-owned power traders

Utpal Bhaskar, New Delhi: Prospects of greater electricity trade are prompting Bangladesh and Nepal to set up state-owned power traders and maximize the benefits of electricity commerce, as energy security holds key to development in the region. The eight-member South Asian Association for..

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China boosts Nepal ties with $128 million grant Tuesday, March 17th, 2015

Ananth Krishnan, Beijing, (IT): China has moved to broaden its already significant economic presence in Nepal by signing on Tuesday its biggest ever grant assistance to the country, pledging $ 130 million that will likely fund infrastructure projects. China and Nepal on Tuesday signed a deal for..

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US provides $1.8 million engineering equipment to Nepal Saturday, March 7th, 2015

KATHMANDU: The US today provided heavy engineering equipment worth $1.8 million to Nepal for developing infrastructure at a key training centre involved in preparing units and individuals for peacekeeping missions. US Ambassador to Nepal Peter Bodde formally handed over the equipment to the..

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After TIA crisis‚ PM urges for 2nd int’l airport Friday, March 6th, 2015

KATHMANDU: After two and half days of the incident, Prime Minister Sushil Koirala expressed his concern over crass-landing of the Turkish Airlines Airbus A330 at the Tribhuvan International Airport (TIA). The Prime Minister also directed concerned authorities to expedite works for an alternative..

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NOC hikes petro price

KATHMANDU: The Nepal Oil Corporation (NOC) has hiked the price of the petroleum products today based on the new price list send by the Indian Oil Corporation (IOC). The NOC said that the price of petrol, diesel and kerosene has increased by Rs 1 per litre. As per the fresh decision, petrol would..

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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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Nepal Airlines launches first route to India Wednesday, March 4th, 2015

KATHMANDU: Nepal Airlines has launched its fifth international route from Kathmandu (KTM) and first to India. On 27 February, the airline introduced a four times weekly service on the 813-kilometre route to Delhi (DEL). The carrier will use its only A320 on the route, which is already served by Jet..

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Ease norms for workers’ recruitment, Nepal urged Monday, March 2nd, 2015

By Usha Wagle Gautam, DOHA: Qatar has urged Nepal to ease emigration procedures to make recruitment from the Himalayan country hassle-free. The message was conveyed by Qatari authorities to a six-member official delegation from Nepal, which was here to study the conditions of its workers and their..

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World Bank approves USD 65 million aid for education in Nepal Sunday, February 22nd, 2015

KATHMANDU: The World Bank has approved USD 65 million as assistance for higher education reforms in Nepal to help address the human resource needs of the country. The project aims to support reforms in selected institutions for improving quality, relevance, and efficiency of higher education and..

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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 to receive more funds from India for river embankment Monday, February 16th, 2015

KATHMANDU: The Indian government has decided to release an additional Nepali Rs700mn ($6.6mn) for the remaining embankment extension along Lalbakaiya, Bagmati and Kamala rivers in Nepal. Around 80% training and embankment works on these three rivers in southern Nepal has been already completed...

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Nepal to probe black money accounts Sunday, February 15th, 2015

KATHMANDU: Nepal has initiated a probe into the alleged illegal deposit amounting to Rs 5.5 billion by eight Nepali nationals in a bank in Switzerland as part of a crackdown on the money laundering racket. The Nepal Rastra Bank, the central bank of Nepal, has said it has not given any permission..

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IPB approves foreign investment for hydropower projects 

KATHMANDU: The Industrial Promotion Board (IPB) has granted approval for inflow of foreign investment to Upper Kaligandaki Hydropower Project. Today´s meeting of the Board has decided to approve increment of foreign investment, scaling up the capital of the promoter Shell Clean Hydropower in the..

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Bangladesh, Nepal to sign bilateral trade agreement in Expo 2015 Saturday, February 14th, 2015

DHAKA: Nepal Expo 2015 has begun at Bhrikuti Mandap Exhibition Hall from Wednesday. Minister for Commerce and Supplies, Sunil Bahadur Thapa, said that government is preparing to sign a new bilateral trade agreement with Bangladesh. This five days event is being organized by Synthesis Exhibition..

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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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Will China Confront a Revolution of Rising Expectations? Monday, November 11th, 2019

For over a decade, China has accounted for a quarter or more of global economic growth. With its economy currently navigating a rough patch, the question is whether this..