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2015 May | Nepali Economy | Page 2
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Monthly Archives: May 2015

ADB creates emergency trade finance facility for Nepal by expanding its Trade Finance Programme

Asian Development Bank (ADB) is expanding its Trade Finance Programme (TFP) in Nepal by an additional $40 million to help banks finance import of much needed goods to support reconstruction and immediate needs in response to the recent earthquake. “The

Government prepares action plan for reconstruction of damaged heritages

The government has come up with three phase action plan for the preservation and reconstruction of the world heritage sites damaged by the devastating earthquake on April 25. The Ministry of Culture, Tourism and Civil Aviation has come up with

Police arrest traders for overcharging tarpaulins

Metropolitan Police Crime Division Kathmandu today arrested three traders on the charge of overcharging customers for tarpaulins. During an inspection today, police found traders overcharging customers by as much as Rs 1,200 per tarpaulin, a press release from the division

Ban urges world to help raise funds for quake-hit Nepal

United Nations secretary-general Ban Ki-moon today urged the member countries and others to help raise an additional $365 million urgently needed to support Nepal devastated by a devastating earthquake on April 25, and its powerful aftershocks. Addressed the United Nations

Share market likely to open from May 24

Instead of tomorrow, the share market is going to start trading from May24. The market has been closed since April 26 after the devastating 7.8-magnitude earthquake of April 25. And it had initially planned to start trading from tomorrow. But

Delay in donations may deepen crisis for quake survivors: UN

United Nations (UN) Humanitarian Coordinator in Nepal Jamie McGoldrick has warned that the failure of international community to respond to humanitarian appeal launched by the UN and its partners may result in a crippling loss of dignity of divastating earthquake

Lawmakers to visit earthquake hit districts

National Disaster Management Monitoring and Instruction Special Committee today decided to mobilise a parliamentary group to the 14 badly affected districts by the devastating earthquake of April 25. Instruction Special Committee – formed by the parliament – during its first

Nepal earthquakes fuels crisis for children’s emotional health : UNICEF

Children in Nepal are facing an unprecedented emotional toll as they deal with the devastating consequences of two major earthquakes in two-and-a-half week, warned UNICEF. Thousands of children and their families have poured back into informal settlements across the country

ILO director-general reaffirms support to Nepal reconstruction following second earthquake

The latest major earthquake to hit Nepal comes as recovery efforts are still on-going in the central districts devastated by the earthquake that struck on April 25, according to ILO director-general Guy Ryder. “Our hearts go out to the families

Planning commission ready with short-term reconstruction plan

National Planning Commission (NPC) will submit plan for resettlement – for the earthquake-displaced people – and reconstruction of collapsed structures within this week. NPC vice chair Dr Govinda Raj Pokhrel today said that the plan will be forwarded to the

Nepal improves in travel and tourism competitiveness index

Though, the recent tremor has scared the tourism entrepreneurs, the country has moved up ten spots to the 102nd position – among 141 economies – in travel and tourism competitiveness index, according to the Travel and Tourism Competitiveness report 2015

Government warns of stern action, if house owners hike rent

The government has warned stern action against houseowners, who hike rent taking undue advantage in the aftermath of the 7.8-magnitude devastating earthquake of April 25. Issuing a statement – after complaints that some landlords were increasing house rent after the

Avalanche halts rescue works in Langtang

The frequent avalanches in and around the area halted rescue works at earthquake-hit Langtang village in Rasuwa district. The Nepal Army rescue team has taken out 90 dead bodies, including nine foreigners, from the areas so far, according to the

Mt Everest expeditions called off this season

The government today officially called off Mt Everest expeditions for the season. “We have decided to cancel Mt Everest expeditions for this year,” said director general of the Department of Tourism Tulsi Prasad Gautam. The ministry decided to call off

Government to table resolution to construct quake-demolished houses

The government is tabling a resolution proposal on building all the public houses that were ravaged by the devastating earthquake on Saturday. A meeting of the major three parties – Nepali Congress (NC), CPN-UML and UCPN-Maoist – held at the

Parliamentary committee directs government to adopt one-door policy for relief aid

International Relations and Human Rights committee today directed the government to take all the foreign assistance for relief and rehabilitation through government fund. “We have directed the government to take the much-needed foreign assistance only through the government fund based

NRNA to build 1,000 quake-resistant homes

Non-Resident Nepali Association (NRNA) has committed to construct some 1,000 homes in different quake-hit areas. “The association will construct earthquake-resistant and environment-friendly homes in eight of the most earthquake affected districts,” said NRNA president Shesh Ghale here today. He, however,

Switzerland to provide Rs 90.7 million relief to quake

Switzerland has decided to provide Rs 90.7 million as relief assistance to the quake victims of Nepal. The Embassy of Switzerland has informed that the amount would be spent on managing temporary shelters for 20,000 quake victims of Ramechhap, Okhaldhunga,