Business & Economy

Petrol price reduce Rs 2.5 per liter Friday, January 2nd, 2015

KATHMANDU: Nepal Oil Corporation (NOC) has reduced price of petrol by Rs 2.5 per liter and diesel and kerosene by Rs 2 per liter each. The new rates will come into effect from Friday midnight. With the fresh adjustment, petrol will cost Rs 113.5 per liter, while diesel and kerosene will be..

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Cabinet allows ADB to pick Tanahun hydro consultant

KATHMANDU: The Cabinet on Thursday decided to appoint a joint venture of the Lahmeyer International GmbH Germany and Manitoba Hydro International of Canada as the project supervision consultant for Tanahun Hydropower. The decision paved the way for the Asian Development Bank (ADB) to go ahead with..

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ED traces money trail to Nepal via Singapore

Madhuparna Das, Kolkata: In a major breakthrough in a terror funding case in Assam, the Enforcement Directorate has traced the money trail that starts from the Northeast state’s North Cachar Hills Autonomous Council (NCHAC) and ends in Nepal via Singapore. The money, converted into US dollars,..

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Troubled EU hoping the only way is up in 2015 Thursday, January 1st, 2015

BRUSSELS (AP): Beset by critics and buffeted by economic woes, European Union chiefs might have been forgiven for thinking that at least Pope Francis would apply some balm for the New Year in his address to the EU parliament. Not so. Even the pontiff spoke of a continent that was "elderly and..

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Oman, Nepal weekly flights increased to 21 Tuesday, December 30th, 2014

Muscat: The number of flights between Oman and Nepal has been increased from seven to 21 per week. This will be further increased to 28 weekly flights with effect from January 1, 2016. The Sultanate and the Republic of Nepal yesterday signed a pact on regulating air transport services, at the..

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Rupee falls to one-year low against US dollar Monday, December 29th, 2014

KATHMANDU: Nepal rupee fell to a one-year low of 101.4 against US dollar on Sunday as Indian currency, with which rupee is pegged, continues to depreciate against the greenback. The Indian currency fell to 63.63 against US dollar on Sunday. Nepal Rastra Bank (NRB) has fixed selling and buying..

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China augments annual assistance by 433 per cent

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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Big imports from Nepal, Sri Lanka pull down areca nut prices Thursday, December 25th, 2014

By Krishnakumar Padmanabhan, KOCHI (ET): Mounting imports have pulled down areca nut prices, prompting growers to appeal to the government to increase import tariff further. About a year ago, India had raised the tariff to Rs 110 per kg from Rs 75 to help local growers by increasing the cost of..

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China, Nepal strengthen financial cooperation Wednesday, December 24th, 2014

BEIJING: The central banks of China and Nepal have signed a supplementary agreement to expand the use of local currencies, according to a statement on the website of the People's Bank of China(PBOC) on Tuesday. According to the deal, the two countries' currencies can be used for settlement in both..

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Student unions give 24-hour ultimatum to govt Monday, December 22nd, 2014

KATHMANDU: Students unions affiliated to different political parties have served a 24-hour ultimatum to the government, asking it to wisely reduce public transportation fare. Citing significant drop in price of petroleum products in recent months, a joint meeting of student unions on Monday urged..

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Asia-Pacific LDCs meeting vows sustainable graduation by 2020 Friday, December 19th, 2014

KATHMANDU: Least developed countries (LDCs) of Asia-Pacific region have envisaged sustainable graduation of the LDCs of the region during the ministerial meeting that concluded here today by issuing a 24-point declaration, which is fully focused on meeting the graduation criteria by 2020 as per..

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India provides Rs 49 mn assistance for ear care in Nepal Wednesday, December 17th, 2014

KATHMANDU: India today gave Rs 49.4 million grant of assistance to carry out ear health programmes in Nepal. Two Memorandum of Understanding were signed between Embassy of India, Kathmandu and BP Eye Foundation for Ear Surgical and School Ear Health programmes. The Ear Surgical Programme aims to..

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1,500 Nepalis leave daily for foreign jobs

KATHMANDU: Due to not getting employments within the country, more than 1,500 Nepalis are bound to leave the country daily for foreign jobs. As per the data maintained by the Foreign Employment Department, the number of Nepalis who opted for foreign employment in the last twenty years (since the..

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Asia Paficic LDCs ministerial meeting starts today Tuesday, December 16th, 2014

KATHMANDU: The Government of Nepal in collaboration with the United Nations Office of the High Representative for LDCs, LLDCs and SIDS (UNOHRLLS) is organizing a three-day Ministerial Meeting of the Asia-Pacific LDCs on Graduation and Post-2015 Development Agenda in Kathmandu beginning..

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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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China raises aid to Nepal Saturday, December 13th, 2014

KATHMANDU: China has become yet another development partner to raise foreign aid quota for the country, as it has pledged to increase grant assistance for Nepal by over 400 per cent in the next fiscal year. China is providing a grant of around RMB 800 million (approximately Rs 12.93 billion) in..

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