Influx of foreign tourists to Nepal increases over 91 percent amid COVID-19

The increment in the tourist inflow is 91.3 percent. All the incoming tourists used air route for the arrival. During the same period, 17,984 Nepali people left the country for foreign countries.

Finance Minister Sharma urges all not to indulge in digital networking business

He argued that digital networking had caused capital flight and it was illegal. "You can rather help government curb such crime," Minister Sharma added. Similarly, he directed the participants to contribute to creating community capital by ensuring local people's ownership in the natural resources.

Registration of industries increases

According to the Department, 103 domestic and foreign industries were registered till mid-January of the previous fiscal year. The number of domestic and foreign industries in the corresponding period of the current fiscal year has reached 154.

Government gives seven days ultimatum to casino companies to clear arrears

It has also warned of taking action against them if they fail to clear the arrears. The seven casino companies including Hotel Yak and Yeti Pvt Ltd, Oriental Hotels Limited, Happy Hour, Rock International and Central Media Pvt Ltd have to clear arrears amounting to over Rs 871 million remained of their royalty and renewal fees until the fiscal year of 2020/21, it has been said.

NEPSE gains 19.29 points

With the improvement in the share market, the total transaction volume also rose reaching more than Rs 6.57 billion with the trade of 12.1 million shares of 223 companies.

Govt meets 50% of revenue target, but only 34% of expenditure target so far

Meanwhile, government spending has lagged far behind compared to encouraging receipts. While the government achieved 50 per cent of the receipts it has projected in the budget, it has succeeded in spending only 34 per cent of the annual target.

Finance Minister points at lack of development-friendly policy, structures

"Inadequacy of appropriate policy and necessary structures has hindered the development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. It has a direct bearing on the national economy.

NEPSE up by 105 points to close at 2,885 points

Banking gained 64.99 points, trading 146.33, hotel and tourism 141.48, development bank 318.22, hydropower 182.9, finance 152, non-life insurance 431.61, production 197.75 and others 83.22 points. Similarly, microfinance increased by 173.46 points, life insurance 548.06, mutual fund 0.28, and investment 5.69.

Increase interest rate on deposits to solve liquidity shortage: Economists

The external sector witnessed the deficit in BoP coinciding with the continuous climb of the imports. The import is getting financed from the bank and financial institutions (BFIs). The NRB report revealed that the amount of the outstanding credit of BFIs leaped by a huge amount in the current FY in comparison to the previous FY. In the current FY, the outstanding credit for import finance rose to Rs. 12.2 billion is far too large in comparison to just over Rs. 405 million recorded in the same period...

E-payment at customs launched, customs clearance becomes possible from home

The Finance Minister also shared on the occasion that vehicle scanners will be used at the customs checkpoints very soon. He added that the work related to bringing the vehicle scanner as part of the continued improvement of the customs has reached the final stage, stating that the vehicle scanner is also linked to national security and not just for checking goods.

Entire family engaged in cryptocurrency

The family’s engagement on cryptocurrency transaction was revealed after the Department of Revenue Investigation (DRI) on Monday filed a case against the family members.

Liquidity shortage lasts longer due to domestic, external sector pressure

Nepal Rastra Bank (NRB) data shows that the trend of the excess liquidity indicator fluctuated around Rs. 122.9 billion to Rs 120 billion at the beginning of the current FY. However, it began depleting from there hitting the rock bottom to Rs. 17 billion on January 25

FM Sharma urges RBB to increase investment in agro sector

Addressing the 57th anniversary of the Bank on Monday, Finance Minister Sharma said that the RBB would definitely increase its 11 per cent investment in agro sector, five per cent in tourism and five per cent in industrial sector in its new programme to be formulated with its 57th anniversary. “It will be significant contribution in national capital, production and employment”, he said.

Interest on deposit up by 1.48, on lending by 0.81 percentage point

The Banking and Financial Statistics (BFS) of mid-December released by the Nepal Rastra Bank (NRB) recently showed that the interest rate on deposits increased by 1.48 percentage point while that of lending by 0.81 percentage points during the period from mid-August to mid-December.

Himalaya Airlines awarded ISO 9001:2015 QMS certification

The Nepal-China-Joint Venture airline has received the certificate on December 29, 2021, in recognition of the organization’s Quality Management System (QMS) which complies with ISO 9001-2015, Himalaya Airlines said in a press release today. The airlines earned the ISO certificate for “Providing Air Transport for Traveling Passengers and Freight, including Aviation Related Training Services”.

Country's imports exceed Rs 999 billion in first six months of current FY

Trade statistics of the first six months of the current fiscal year 2021/22 released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period.

BFIs extend credit by 10.3% in five months

The macroeconomic and Financial Situation position issued by the Nepal Rastra Bank (NRB) showed that except for construction, local government and others' loans, the outstanding loan in all other sectors slightly inched up.

Heavy snowfall at Suketar airport, flights disrupted

Lokendra Limbu, station in charge of Nepal Airlines Corporation in Taplejung, informed that snow has piled up in the Sukatar airport, situated at an altitude of 2,400 meters, disrupting the flights.

99 Nepali workers leave for Israel today

The Government of Nepal and the Government of the State of Israel have decided to establish a Joint Working Team to prepare a bilateral agreement for sending Nepali nationals to work in the construction sector in Israel.

ADBL launches QR Teller service

With the introduction of the new product, the customers, who are now receiving mobile banking services of the bank, will be able to easily and securely pay the amount of their account by scanning the QR from QR teller without any cheque.