Relief assistance to hailstorm-affected farmers

On November 25, hailstorm damaged paddy and millet alongside other cash and food crops of the farmers in Chichila Rural Municipality. Following the damage, the rural municipality provided food relief to 225 families of farmers in Ward No. 2 on Saturday.

NTB stresses new strategy

The Nepal Tourism Board (NTB) has stressed the need to devise a new strategy for sustainable tourism that addresses the challenges raised by the COVID-19 pandemic. The Board held an interaction with various donor agencies and diplomatic missions on Friday to discuss the Sustainable Tourism for Livelihood Recovery Project (STLRP) it is implementing in collaboration with the United Nations Development Programme (UNDP). There, Chief Executive Officer Dr. Dhananjay Regmi shared the various activities...

FDI inflow up by 49.6%

The Current Macroeconomic and Financial Situation released by Nepal Rastra Bank (NRB) revealed that FDI accumulation in the first five months of the current FY remained Rs. 7.3 billion, which is up from Rs. 4.8 billion as recorded in the review period of the previous FY.

IMF approves concessional loan to Nepal

IMF (International Monetary Fund) has approved a Rs 46.7 billion ($ 395.9 million) concessional loan to Nepal. IMF has been providing this loan facility through enhanced credit facility (ECF) at zero interest.

Nepali envoy in US urged to attract investment

The Confederation of Nepalese Industries (CNI) has urged the proposed Ambassador to the United States of America, Shridhar Khatri, to attract foreign direct investment (FDI) in Nepal, assist in technology transfer, promote exports and emphasize on tourism promotion.

Govt to allow private sector to trade electricity: Bhusal

The government is readying to allow the private sector to trade electricity abroad within a month and a half. Minister for Energy, Water Resources and Irrigation Pampha Bhusal has said that a procedure is being prepared to allow the private sector to trade electricity and the work will be completed within one-and-a-half months.

China's foreign trade hits new high in 2021

The total trade in goods amounted to 6.05 trillion U.S. dollars, up 1.4 trillion U.S. dollars from a year ago, according to the General Administration of Customs (GAC).

Inflation jumps to 7.11 per cent

The consumer price inflation has increased significantly during the first five months of the current fiscal year 2021/22. According to the current macroeconomic and financial report published by the Nepal Rastra Bank (NRB) on Thursday, the year-on-year (y-o-y) consumer price inflation stood at 7.11 per cent in the first five month of the current fiscal year compared to 2.93 per cent a year ago.

Sale of yams increase for Maghe Sankranti

People in the Kathmandu Valley are now busy purchasing yam of their choice, one of the widely eaten items during the Maghe Sankranti festival, which falls on Saturday this year. Almost a dozen varieties of yam are available in the retail market, with their prices ranging from Rs. 60 to Rs. 300 per kg. Prices of the roots vary based on their varieties.

Cash margin in LC affects import

Imports from Rupandehi's Belahiya checkpoint have declined by about 60 per cent. According to the Bhairahawa Customs Office (BCO), the decline in imports is due to the new provisions introduced by the Nepal Rastra Bank. The NRB had issued a circular stating that 100 per cent cash margin should be maintained while opening a Letter of Credit (LC) for the import of 18 luxury items, and 50 per cent cash margin for two items.

WB projects Nepal's per capita income to fall

Despite rebound growth and an upgraded forecast, the number of people living on less than $ 1.90 per day is expected to remain above the pre-pandemic level. The report assumes tens of millions of new poor in the South Asian Region since 2020.

Tree farming makes barren land productive

With increasing attraction of farmers to tree plantation and farming, the barren lands of Panchthar have now become productive. The land that had been left barren due to lack of agricultural labourers is now covered with trees planted by the farmers.

Economists underline in-depth research, enhanced capital expenditure to expedite growth

Prof. Adhikari noted that economic performance is in challenging situation and that living standard has been declining due to rising health cost. He underlined the need for the economic growth driven basically by the large scale domestic investment.  He, however, highlighted that the foreign direct investment (FDI) which could impact the domestic sector should not be encouraged.

Tourism Minister insists on operation of Majhgaun Airport  

Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has spoken of the need of operating Majhgaun Airport in Kanchanpur district. 

Ski adventure center to be built at Kuri in Kalinchowk area

The payback period of the project is eight years. The master plan was prepared based on the data from Kuri Cable Car and Kalinchowk Rural Municipality. It is expected that there will be restaurants and lodges to accommodate and serve at least a thousand tourists a day.

Country's GDP projected to limit at 3.9%

The country's gross domestic product (GDP) in the current fiscal ( 2021-22) is projected to limit at 3.9 per cent, according to the World Bank's Global Economic Prospects report launched on Wednesday.    

Hailstorm destroys winter crops in Doti  

An unseasonal rainfall accompanied by a hailstorm on last Monday and Tuesday lashed various places in Doti district, causing heavy damages on the winter crops including vegetables.     The damage of the crops and vegetables such as potato, tomato, radish and onion among others cultivate at the farmland at Badikedar Rural Municipality have left farmers distraught.    

Spend all capital budget: Minister Sharma

Finance Minister Janardan Sharma has urged various ministries to spend 100 per cent capital budget in the remaining six months of the current fiscal year 2021/22. He made the request to the secretaries at a review meeting of the ministry's expenditure for the fiscal year 2021/22 at the ministry on Tuesday. He said that he was ready to help even at mid-night if needed and urged to spend anyway.

Nepal's economy grows despite COVID-19 Interruption

The Economic Activity Report (EAR) of 2020/21 of the Nepal Rastra Bank (NRB) revealed that agriculture, industry and service sector including the infrastructure have slightly improved in the fiscal year (FY) 2020/21.

Finance Minister Sharma urges for boosting capital spending

At a review of expenditure made so far in the current fiscal year at the Ministry of Finance today, Minister Sharma asked the secretaries of different ministries to work to boost capital spending at optimum level.