Industries await execution of monetary policy to operate in full strength

Industrialists encouraged by recently introduced monetary policy of Nepal Rastra Bank have started preparations to operate their businesses in full capacity. The industrialists have started preparations to formulate their production strategy on the basis of procedures that will be unveiled by the central bank for the implementation of the monetary policy. Rajesh Agrawal, director of Siddhartha Group, said that the provision included in the monetary policy to provide refinance facility at 5 per cent...

Gold price continues to rise   

The price of gold and silver, which is unstable in the international market due to the COVID-19 pandemic, rose abruptly in the domestic market as well today.     The price of yellow metal went up by Rs 2,400 per tola (1.6 grams) today.

Sugar price jumps unnaturally, a kilogram reaches above Rs. 90

However, public enterprise Salt Trading Corporation (STC) is selling sugar at Rs. 73 per kilogram from its outlets.

Hotels in Sauraha ready to welcome guests 

The government has lifted the lockdown imposed to check the spread of Corona Virus. Public vehicles, industries and the market are back into operation as usual.     Likewise, the tourism sector is also gearing up to open itself for visitors beginning July 30, as decided by the government.

Crushers put BP Highway at risk

Crushers are making the BP Highway unsafe, complained locals. The risk is particularly high in Kavrepalanchowk’s Namobuddha Municipality and Roshi Gaunpalika where the crusher industries are operated right above the road.

Ilam farmers get agriculture tools

The local levels of Ilam have launched an initiative to provide agricultural tools at subsidised rates to the farmers to support in the mechanisation of agriculture. Local levels have started distributing agricultural tools such as tractors, mini tillers and brush-cutters in a subsidised rate for commercialising farming.

About 92% paddy plantation completes

Paddy plantation has completed in 91.68 per cent of the country’s total paddy filed as of Tuesday. According to the statistics of the Ministry of Agricultural and Livestock Development (MoALD), paddy plantation has completed in around 1.25 million of 1.37 million hectares of paddy filed so far.

Growth projected to be tepid at 2.1 per cent in FY2021, says World Bank

Economic growth of the country is estimated to contract sharply to 2.1 per cent in Fiscal Year 2021 from the COVID-19 pandemic and related lockdown, despite efforts by the government to curb the economic fallout from the crisis, states the World Bank’s latest Nepal Development Update.

Gold price reaches Rs. 94,500 per tola

Gold was traded at Rs. 94,000 per tola in the domestic bullion market on Wednesday.

Gold price increases by Rs 500 per tola

The price of gold has increased by Rs 500 per tola in the domestic market today, the Federation of Nepal Gold and Silver Dealers Associations stated. One tola is equivalent to 1.66 grammes.     The Federation has fixed the price of hallmark gold at Rs 94 thousand 500 and that of tejabi (worked) gold at Rs 94 thousand 60 for Thursday. The price of the yellow metal had surged by Rs 1,300 per tola on a single day on Wednesday.    

Banks in Bara reach physically weak people

In Mahagadhimai Municipality, whenever the citizens aren’t able to go to the bank, the bank goes to the citizens. Banks have been going to the houses of single women, senior citizens, people with disabilities and other residents of Mahagadhimai Municipality, Bara, who are unable to come to their offices to collect their social security allowance.

Gold Price reaches Rs. 94,000 per tola

The price of gold in the domestic market reached a record high on Wednesday as the Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA) fixed the  price of a  tola of fine gold at Rs. 94,000. On Tuesday the price was Rs. 92,700 per tola.

Tea manufacturers, local government in quarrel   

Tea manufacturers at the Suryodaya municipality in Ilam have accused an official monitoring team of attacking on their image and reputation.     Disputes in tea business is almost an ever-present issue here. The argument began between farmers and industries a few months ago is yet to be settled.    

Foreign investment worth Rs 39 billion pledged in last fiscal year

Majority of the FDI was committed by the Chinese firms. Firms from China pledged to invest Rs 25.57 billion for 174 industries followed by India standing at Rs 3.57 billion for 16 industries, informed Spokesperson Binod Kumar Khadka.

Micro-hydel project construction comes to a final stage 

The Chhipkhola micro hydropower project, under construction at Sisne rural municiplaity-2 in Rukum (east), has come to a final phase of operation.     The 40-KW capacity hydro project is being constructed at the shared investment of the Alternative Energy Promotion Centre (AEPC), Sisne rural municipality and local infrastructure partnership programme.    

Locust swarms damage crops in Surkhet, Pyuthan

Locust swarms, which entered Nepal a week ago, have damaged crops and fruits, mainly in Surkhet and Pyuthan districts. According to Ram Krishan Subedi, information officer of Plant Quarantine and Pesticide Management Centre, the second batch of locusts, which entered Nepal a week ago, had damaged crops and fruits mainly in two districts of Surkhet and Pyuthan.

Tanahun developing into largest exporter of saplings in Gandaki state 

Tanahun district is being developed as the centre for sapling production. Of the Division Forest Offices of 11 districts of Gandaki state, the Division Forest Office Tanahun has produced highest number of saplings.    

Revenue Rs 1.6 billion collected from Tataopani Customs   

Revenue amounting to nearly Rs 1.6 billion has been collected from Nepal-China northern checkpoint, Tatopani Customs Office, in the fiscal year 2019/20.     As no annual target was set in regard to the collection of revenue from the office in the fiscal year, it was raised under the headings such as custom duty, value added tax, agriculture reform and road improvement tax, informed Tatopani Customs Chief chief Lal Bahadur Khatry.    

Vegetable prices up by three times

The price of green vegetables has increased by threefold in the district. The decrease in the vegetable production caused by the continuous rainfall has been attributed to increase in vegetable prices in Sarlahi. Vegetables are decaying at the farms due to rainfall, said Rajkumar Mahato, local farmers of Lalbandi Municipality-11.

Cement factory kicks 70 workers out of job during lockdown

Harishchandra Rana, a labourer, who got removed from the job, said that some 70 workers of the factory were dismissed from the job. "Despite an agreement reached in course of setting up the factory here that priority would be given to locals for employment in the factory, all the dismissed workers are locals," said Rana.