Monthly Archives: September 2014

Imported goods unlikely to arrive in time for Dashain

Due to worsening road condition – due to a landslide that cut off the Araniko Highway to Kathmandu before Dashain – traders will have hard time transporting imports from China stuck at Khasa and Tatopani. On Sunday, the road to

Finance Minister asks farmers to benefit from agri-loan

Finance Minister Dr Ram Sharan Mahat today urged farmers to take benefit from government’s subsidised loan facility at six per cent. He had – in the budget – announced subsidised interest rate on loans for youths to encourage them in

34 Nepalis held in Costa Rica

Thirty-four Nepalis have been detained in Costa Rica as they were trying to illegally entry the country, local English newspaper Tico Times reported. The Costa Rican National Police on Monday detained 27 Nepali migrant in the Paso Canoas community, along

Nepal slowly opening: World Bank

The World Bank senior official hailed Nepal’s progress in creating openness and transparency, apart from strengthening institutions. “Nepal has achieved considerable progress in recent years, despite a challenging environment,” World Bank Nepal country director Johannes Zutt said, during a Knowledge

Koirala urges Europeans to invest in Nepal

Prime Minister Sushil Koirala asked a team of diplomats from the European Union (EU) to promote European investment in Nepal. Nepal has become a secure place for investment after the second Constituent Assembly (CA) elections last November, he told the

CAAN writes to European Union

Civil Aviation Authority of Nepal (CAAN) today formally informed the European Union (EU) that it has addressed most of the safety concerns raised it had raised. The EU had asked Nepal to submit the progress report on aviation safety and

Nepali organisation bags UNDP Equator Prize

The Alliance for Integrated Development along with Conservation Area Management Committee, Kaski have won the Equator Prize 2014. The award presented by United Nations Development Programme (UNDP) Equator Initiative carries a purse of $5,000 for each of the organisations. It

Festivals ticket bookings for long-routes to open tomorrow

The passengers leaving for different parts of the country for festivals will be able to reserve their bus tickets – at current prices as the government postponed the transportation fare hike for a month – from tomorrow. People’s movement across

Transport fare hike from October 18

Department of Transport Management and Federation of Nepalese National Transport Entrepreneurs today agreed to hike transport fare from October 18, after festivals. During a meeting today, they also decided to do necessary homework to implement the decision. But we will

Oriental Hotels announces 10 per cent bonus shares

Oriental Hotels yesterday announced 10 per cent bonus shares – including tax – to its shareholders, as it has posted profit first time in last 14 years. It registered a profit of Rs 210 million in the last fiscal year

Parliamentary committee questions donors’ commitment to farm sector

A parliamentary committee has asked to appear donors to clarify their commitment to Nepal’s agriculture policy. Agriculture and Water Resources Committee today has decided to seek donors’ explanation in draft Agriculture Development Strategy (ADS). The draft 20-year agriculture development vision

Stock market bounces back as officials soothe investors

The stock market bouned back today as the capital market regulator tried to sooth the investors. Nepal Stock Exchange (Nepse) index gained 44.5 points, or 5.08 per cent, in the intra-day trading today to close at 920.06 points. The buying

Development partners show concern over relief distribution

Development partners expressed their serious concern over distribution of relief package for flood and landslide victims in different parts of the country. In a meeting with minister for Commerce and Supplies Sunil Bahadur Thapa today, they also drew the attention

Entrepreneurs seek direct air connectivity with Russia

Businessmen today requested Russian ambassador Sergey Vasilievich Velichkin to help resume direct fights between Kathmandu and Moscow. Lack of direct air link with Russia has restricted the two countries in increasing business activities due to low connectivity, they said, adding

Capital market regulator urges financial market regulator for better coordination

The capital market regulator urged the financial market regulator to coordinate before bringing any policy as it could hit the capital market. Securities Board of Nepal (Sebon) today asked central bank to coordinate with it before taking any decision on

Nepalis allowed to make online purchases using cards

Nepalis can now make online purchase using debit and credit cards from home. “The new provision will ease purchasing goods from abroad online to consume within the country,” according to the central bank directive. The central bank has for the

Qatar releases detained Nepali origin Britishers

Qatar today released two human rights activists after eight days detention. Human rights activist Krishna Upadhyaya (52) and photographer Gundev Ghimire (36) had been detained during their investigation into labourers’ situation in the constructing facilities for Qatar’s 2022 World Cup.

Government to bifurcate CAAN

The government has been working on to split Civil Aviation Authority of Nepal (CAAN) into two entities, one to work as regulator and another as a service provider. The proposed Civil Aviation Act 2014 – prepared by a Spanish consultancy