Monthly Archives: May 2014

MRP for foreign job aspirants mandatory from tomorrow

The government hass made it mandatory that Nepali migrant workers have machine readable passport (MRP) to get final permit from tomorrow. The  Department of Foreign Employment today said that it would not issue final work permit to migrant workers carrying

Government likely to launch SEZ Operation Manual

The government is planning to launch Special Economic Zone (SEZ) Operation Manual tomorrow. The manual aimed at paving the way for the operation of Bhairahawa SEZ has been long due to kickstart the industrialisation in the country. The constractors have

Indigo to double Kathmandu flights from June 1

Indian private carrier Indigo is doubling its flight frequency on New Delhi-Kathmandu-New Delhi route from June 1 due to high demand for seats. The budget airline is currently operating one flight a day on the route. It is operating two

Special train for Nepal-Varanasi to promote religious tourism

Indian Railways Catering and Tourism Corporation (IRCTC) has launched an exclusive AC tourist train for the pilgrims in South India covering Hindu and Buddhist sites in India and Nepal to promote religious tourism. The train will pass through Allahabad and

CIAA asks Rastriya Beema Sansthan to recover perks given to staff

The anti-graft body has asked Rastriya Beema Sansthan to recover Rs 80.35 million perks and and benefits awarded to its staffers illegally. Commission for Investigation of Abuse of Authority (CIAA) today directed Rastriya Beema Sansthan – for the second time

Denmark to support farm commercialisation oin eastern Nepal

Danish Embassy in Kathmandu and Ministry of Agricultural Development, and Ministry of Federal Affairs and Local Development today signed an agreement to support infrastructure development in seven districts in eastern hills of the country. The agreement aims at supporting smallholder

Spread rate of commercial banks comes down to 6.8 per cent

The average spread rate of the commercial banks came down to 6.62 per cent in the first nine months of the current fiscal year, according to central bank data. The central bank had earlier directed the commercial banks to bring

Finance Minister asks donors to fund infrastructure projects

Donor agencies should concentrate on infrastructure projects, instead of scattering funds for various social and political causes, in Nepal, according to the finance minister. They can help Nepalis upgrade their lifestyle by investing on infrastructures like roads and irrigation canals

German envoy for lowering FDI threshold

German ambassador to Nepal Frank Meyke asked the government to lower the threshold for foreign investment. Addressing the 20th and 21st annual general meeting of Nepal German Chamber of Commerce and Industry here today, Meyke stressed the need to introduce

Patanjali Yogpeeth plans to revive Birgunj Sugar Factory

Patanjali Yogpeeth – run by Indian yoga guru Ramdev – has shown keen interest to revive Birgunj Sugar Factory. The Yogapeeth has offered to make all the investment required to operate the factory, according to industry minister Karna Bahadur Thapa.

Nepal receives Rs 1.5 billion remittance inflow daily

The country is receiving Rs 1.5 billion remittance on an average daily. “Nepal has received Rs 397.8 billion in nine months of th current fiscal year 2013-14,” according to macroeconomic report for nine months published today by the central bank.

NAC postpones MA60 commercial flight

Nepal Airlines Corporation has postponed the MA60 commercial flight after some administrative delays. The national flag carrier had earlier planned to start commercial flight of its new China-made aircraft from May 15 but it failed to get the permit from

Cooperatives new draft act seeks stiff penalty for fraudsters

A draft for new cooperatives has proposed strong penalty – including 20 year jail term – against frauds. A high-level commission formed to investigate troubled cooperatives has proposed a new cooperatives Act that has included strong penalty against those involved

Sebon to allow merchant banks to expand service

The capital market regulator is planning to allow merchant banks expand their services with increased paid up capital. Securities Board of Nepal (Sebon) is going to let the merchant banks do consultancy services, said an official at the board. A

Agriculture output expands by 4.7 per cent

Cereal output jumped by 9.4 per cent to 9.56 million tonnes during the current fiscal year due to good and timely rains and an adequate supply of chemical fertilizers. According to a preliminary estimate of the Agriculture Ministry, the overall

Protestors issues white paper on irrigularities at Nepal Tourism Board

The agitating tourism entrepreneurs today issued a white paper on anomalies of acting chief executive of Nepal Tourism Board (NTB) Subash Niroula. According to the white paper issued by the Joint Tourism Coordination Committee (JTCC) the amended Financial Bylaws of

Real estate expo ends, records 214,000 footfall

The fourth edition of Real Estate Expo concluded here today, attracting some 214,000 visitors. The four-day Real estate Expo 2014 witnessed sales of 54 standalone homes and apartment units worth around Rs 270 million, informed the organiser Nepal Land and

Nepal to organise ‘investment seminar’ in Seoul

Nepali embassy is Seoul is going to organise Invest Nepal seminar to attract investment from South Korea. A delegation led by foreign affairs minister Mahendra Bahadur Pandey is leaving for Seoul tomorrow to participate the three-day seminar organised on the