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Nepse rebounds 47 points as election preparation buoys investors


KATHMANDU: Nepal Stock Exchange (Nepse) benchmark index jumped 46.59 points on Monday to close at 1,564.87 points. The stock market rebounded on the second trading day of the week by double-digit following a long slump after Dashain festival.  The single-day surge in the benchmark index was the highest in six months for a market that has recovered somewhat after a ... Read More »

Govt to launch export strategy of four products


  KHATMANDU: As a part of Nepal Trade Integration Strategy (NTIS) — the government’s strategy to boost the export of products that have niche market advantage — the Ministry of Commerce (MoC) has prepared export strategy of four products, namely, large cardamom, handmade paper, tea and coffee with an aim to improve the value chain of these products from production ... Read More »

NRB delays process of rolling out new interest rate corridor


KATHMANDU: The banking sector will have to wait for some more time to reap benefit from the remodelled interest rate corridor, as the Nepal Rastra Bank (NRB), the central bank, is still in the process of preparing the guideline to implement the refurbished system. Earlier, the NRB had said a “matrix” to operate the corridor had been approved and a ... Read More »

Animal skin smuggling racket busted, three held


  KHATMANDU: The Wildlife Crime Control Bureau (WCCB) here busted an animal skin smuggling racket on Tuesday and arrested three persons while trying to smuggle the skin of an endangered clouded leopard. The trio, including one from neighbouring Meghalaya, was nabbed while they were on their way to an agent from Manipur to sell the skin. The sleuths, who nabbed ... Read More »

Govt to conduct feasibility study of nine projects


  KHATMANDU: The government has begun the process for feasibility study of nine infrastructure-related projects in different parts of the country. With a plan to conduct a joint study of nine projects related to bridges, roads and a tunnel, Department of Roads (DoR) has finalised the consultant hiring process. The DoR is gearing up to initiate the study process under ... Read More »

AEPC provides Rs 60m for maintenance of micro hydro projects


  KHATMANDU: The Alternative Energy Promotion Centre (AEPC) has provided support for maintenance of 48 micro hydro projects, which were completely or partially damaged by the devastating earthquakes of April and May 2015. Out of the total 262 projects that were damaged, the AEPC has provided Rs 60 million to 48 projects in last two years for their maintenance. AEPC ... Read More »

Nepal’s revenue to GDP ratio highest among SAsian countries


  KHATMANDU: As the country’s revenue collection has recorded high growth each passing year, Nepal’s tax-to-GDP ratio has reached the highest among South Asian countries and is at par with emerging market economies like South Korea. According to the Ministry of Finance (MoF), the government collected revenue worth Rs 609.17 billion in the last fiscal, which was 23.8 per cent ... Read More »

Nepse up 6.89pts as market reopens


KATHMANDU: The Nepal Stock Exchange (Nepse) index rose 6.89 points on Tuesday, the first day of trading after the week-long Dashain holiday, the biggest Hindu festival. A slight rise in demand for shares and few sell orders on account of the lingering festive mood has caused the country’s only secondary market index to rise slowly, said stockbrokers. Nepse opened at ... Read More »

WB to provide approx Rs 6b loan for vocational training


  KHATMANDU: The World Bank is to provide a loan assistance of approximately Rs 6 billion for the implementation of second phase of the Vocational Education and Training Project. The bank approved the loan on Sunday which it provided with the aim of promoting just access to technical education and vocational training through the improvement of these sectors in Nepal. ... Read More »

Chemical exporters appeal against India’s anti-dumping duty


  KHATMANDU: Two local companies have filed petitions with the Indian authority for reviewing the anti-dumping duty imposed on shipment of a textile chemical from Bangladesh, officials said. The move came early this month after India’s Department of Revenue on June 14 slapped anti-dumping duty of $27.81-$91.47 per tonne on export of hydrogen peroxide, a chemical used as bleaching agent ... Read More »

Economic growth to slow down to 4.7%: ADB


  KHATMANDU: The Asian Development Bank (ADB) has projected that Nepal’s economic growth will slow down to 4.7 per cent in this fiscal as compared to 6.9 per cent of the previous fiscal 2016-17. Growth forecast of this fiscal has been revised down from the earlier estimate of 5.4 per cent in the wake of severe floods and landslides in ... Read More »

ADB forecasts 4.7% economic growth for Nepal


KATHMANDU: Asian Development Bank (ADB) has forecast the Nepali economy to grow only by 4.7 percent in Fiscal Year 2017/18. Releasing the ‘Macroeconomic Update: Nepal (September 2017)’ on Tuesday, the Manila-based development partner said that the economy will likely grow at a slower rate of 4.7 percent in the current fiscal year largely due to heavy rainfall during this monsoon ... Read More »

Kathmandu profit rises 13.5% to $34m


KHATMANDU: A year after closing bricks and mortar stores in Britain, outdoor clothing retailer Kathmandu is adventuring into new international channels in an attempt to boost sales without breaking the bank. Kathmandu has started selling its brand-name products through two overseas outdoor retailers, SportScheck, the leading outdoors retailer in Germany, and Go Outdoors in Britain. The vertically integrated retailer has ... Read More »

ADB to help improve urban service delivery, infrastructures in Nepal


KATHMANDU:  The Asian Development Bank (ADB) has approved a 150-million-U.S.-dollar loan to help improve the delivery of urban services and infrastructure in eight municipalities in the southern parts of Nepal. Issuing a statement on Monday, ADB Nepal office informed that the project will help those municipalities become more sustainable, inclusive and resilient places to live in for more than 1.5 ... Read More »

Nepal’s first BoP deficit in 11 months


KATHMANDU: The outflow of money from Nepal’s economy surpassed inflows by Rs3.3 billion in the first month of the current fiscal year, as rise in remittance income could not offset pressure exerted by a combination of hike in imports and drop in exports. With this, the country has recorded the first deficit in balance of payments (BoP)—which gauzes inflow and ... Read More »

Nepal Rastra Bank circulates Rs11b in small demoniations


KATHMANDU: Nepal Rastra Bank (NRB), the central monetary authority of the country, has circulated new bank notes in small demnomiations worth Rs11 billion in a week. The NRB had started circulation of new currency from last week considering the huge demand of such notes during the Dashain festival. The NRB said it expects to circulate an additional Rs4 billion worth ... Read More »

Raijin Energy claims Rs2.8b in compensation from NEA


KATHMANDU: Raijin Energy Co has claimed Rs2.8 billion in compensation from the Nepal Electricity Authority (NEA) after it scrapped a contract to install solar plants at Devighat and Trishuli in Nuwakot district on orders from the parliamentary Public Accounts Committee. The Chinese company has threatened to take the state-owned power utility to court if it does not pay the money. ... Read More »

Nepal enjoys trade surplus with only 18 countries


  KHATMANDU: The number of countries with whom Nepal enjoys trade surplus is on the decline. As of mid-August, the country had trade surplus with 18 countries out of 94, with whom the country has trade relations. The number of countries with which Nepal had trade surplus stood at 30 in the first month of the last fiscal 2016-17. As ... Read More »

Nepal enjoys trade surplus with only 18 countries

trade surplus

KATHMANDU:  The number of countries with whom Nepal enjoys trade surplus is on the decline. As of mid-August, the country had trade surplus with 18 countries out of 94, with whom the country has trade relations. The number of countries with which Nepal had trade surplus stood at 30 in the first month of the last fiscal 2016-17. As per ... Read More »

Nepal to sign Treaty on the Prohibition of Nuclear Weapons

Germany-Switzerland sign arbitration agreement for tax disputes

KATHMANDU: Nepal will sign the Treaty on the Prohibition of Nuclear Weapons this week during the 72nd Session of the UN General Assembly, the Ministry of Foreign Affairs (MoFA) said here on Monday. Nepali Deputy Prime Minister Krishna Bahadur Mahara, who is in-charge of foreign affairs, will ink the treaty on behalf of Nepal, MoFA spokesperson Bharat Raj Paudyal said. ... Read More »