Aggressive credit on imports, sluggish deposit tightens liquidity: NRB

Prakash Kumar Shrestha made a presentation on the current situation of the economy. He showed that the rate of credit flow has surpassed the rate of deposit mobilization after mid-April 2021 and the interest on credit and deposit began to rise. He also presented that before the current FY, the external sector had also witnessed deficit BOP in 2017/18 and 2018/19.  

Nepalese restaurant awarded for its charitable works in London

Earlier, the restaurant was honoured with the Best Nepalese Restaurant and the Community Heroes award at the 2021 Asian Food Awards.

Govt. expenditure surpasses previous FY record

According to the Financial Comptroller General Office (FCGO) data, the total expenditure in the first four months crossed Rs. 400.9 billion, about 59 billion more than the expenditure in the past FY when it the expenditure was Rs. 341.4 billion.

NRB tightens import of  luxurious items

The NRB has set a 100 per cent cash margin while open LC for the imports of sugar and chocolate, mineral water, liquor and vinegar, cigarettes and tobacco products, perfumes, cosmetics, wooden goods and accessories, shoes, sandals, umbrellas and sticks, cement, plaster and ceramics and other valuable items, including gold and silver.

NEPSE rebounds by 56.73 points

Sub-index of life insurance group saw the highest growth of 206.58 points followed by non-life insurance and manufacturing and processing group whose indices increased by 204.34 points and 170.1 points respectively.

Snowfall prompts seasonal migration in Humla

The residents of Hilsa Bazaar on the Nepali side of the Nepal-China border have come down to the district headquarters Simkot leaving the houses in the care of six caretakers.

Govt's responsibility to take forward MCC agreement: Minister Khand

According to him, discussions were underway among the political parties regarding the endorsement of the MCC through parliament. The government, Khand said, would move ahead drawing conclusions from the discussions

Consumption, imports lending exert pressure on liquidity management

The loan accumulated to Rs. 578.3 billion which is comparatively a larger amount than that of the rest of the other sectors. The consumable loan specifically spurred up in personal consumption loan, education loan, residential personal home loan, and professional loan creating the pressure on liquidity.

Current FY witnesses persistent BOP deficit

Nepal Rastra Bank (NRB) monthly report, “Current Macroeconomic and Financial Situation” showed that the BOP deficit in the mid-August, mid-September, mid-October, and mid-November have been Rs. 38.75 billion, Rs. 83.42 billion, Rs. 76.13 billion, and Rs .150.38 billion respectively.

Qualitative rise in electricity demand, expected to reach 2K megawatts by coming mid-July

Electricity demand capacity both in terms of megawatts and energy units is found increasing. For instance, the peak demand in the system on December 13 was 1,539 megawatts whereas the peak demand on the same day last year was 1,217 megawatts – an increase of 322 megawatts. On this basis, the peak demand for electricity has increased by 26.5 per cent this year compared to the demand on the same date last year.

Finance Minister commits to 'correct' government policy on financial market

Addressing the Innovation Summit organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in the federal capital today, he said, "Come, tell directly if the government policy has created any difficulty in the financial market. We also have representative in the Nepal Rastra Bank (NRB). We are ready to tackle the problem right here."

Tea farmers demand to fix minimum support price of green leaves

Stating that the future of tea is getting uncertain every year due to the use of chemical fertilisers and pesticides, the farmers said that the support price of organic and quality tea should be fixed by the federal government.

Girl students get sanitary pads free of cost

The rural municipality distributed sanitary pads free of cost to the girl students from Grade 6 to 8 of Dewal Basic School at Tumcha, said school principal, Kali Bahadur Rawat.

China's foreign trade up 22 pct in first 11 months

The figure, already surpassing the 32.16-trillion-yuan total for all of 2020, marked a 24-percent increase from the pre-epidemic level in 2019, according to the General Administration of Customs.

The oldest known whiskey is soon to be up for auction

The whiskey, bottled in LaGrange, Georgia, is about to go up for auction. The Old Ingledew Whiskey is believed to be the oldest known whiskey in existence, according to Skinner, which is facilitating the auction.

Construction of milk powder production plant begins 

Construction of a powder milk production plant and its building has been started in Hetauda, the capital of Bagmati province.  The structure is being constructed at Nyureni of Hetauda Sub-metropolitan City-10, with the grant of Rs 412 million 271 thousand provided by the province government.  

New provision to ease life of migrant workers in South Korea

Migrant workers in South Korea can change their work site and join their desired company if the employer failed to make better arrangements for accommodation.  The Ministry of Labour and Employment of South Korea government has implemented a regulation allowing the migrant worker to change his/her work site in case the employer kept them in sub-standard shelters.

Gold price rises by Rs 500 per tola today

The price of gold (both hallmark and worked) has increased by Rs 500 per tola in the Nepali market today, according to the Nepal Gold and Silver Dealers' Association. 

Price of yellow metal goes down Rs 1,700 per tola

Price of yellow metal has gone down in Nepali market today. It has decreased by Rs 1,700 per tola (11.66 grammes) today.     According to the Federation of Nepal Gold and Silver Dealers Association, price of hallmark gold has been fixed at Rs 87,000 per tola today against Rs 88,700 yesterday.    

Women cooperative campaigns to make Devghat self-reliant in milk

Chakrawarti Social Entrepreneur Women's Cooperative in Devghat Rural Municipality-5 has launched a campaign to make Devghat self-reliant in milk with emphasis on animal husbandry.