Maoists assure to create conducive environment for industries
Nepalnews.com, July 19
Senior Maoist leaders have expressed commitment to allow industries to operate smoothly without any fear or threats. more...
Nepal placed in converging economic category
RSS, July 21
The UNCTAD's Least Developed Countries Report 2006: Developing Productivity Capacities has categorised Nepal into the converging economic group. more....
Interview with Rajendra Kumar Khetan, Dr. Shankar Sharma and Prof. Dr. Bishwambher Pyakuryal about the Nepal Govt's Budget 2006-07
Spotlight, July 21
“If The Morale Of Business Community Is Not Boosted, It Will Be Difficult To Attain Five Percent Growth. more....
Trade deficit increased by 25.3 percent: NRB
Nepalnews.com, July 21
The trade deficit of the country during the first 10 months of the fiscal year 2005-06 rose by 25.3 percent compared to the same period during the previous fiscal due to a higher rate of growth in imports against a slower pace of exports. more....
Nepal to bring tourism master plan by October
People's Daily Online, July 21
Nepal is preparing to bring out a Tourism Master Plan by October this year, The Himalayan Times reported on Friday. ... more....
Monetary policy to mop up excess liquidity
eKantipur.com, July 23
Management of excess liquidity to curb the creeping inflation would be one of major priorities of the annual Monetary Policy due to be announced on Sunday by Nepal Rastra Bank (NRB). more....
SAARC Development Fund of $300m to help reduce poverty
Narinjara News, July 23
The SAARC Development Fund (SDF) likely to be launched early next year with an initial amount of US$ 300 million - decided at the meeting of SAARC Finance Ministers in Islamabad, Pakistan on Tuesday. more....
NRB warns of restriction on commercial banks
RSS, July 23
The Nepal Rastra Bank (NRB) Sunday announced some stricter measures it could take if commercial banks fail to increase their paid-up capital to one billion rupees by mid-July 2009. more....
Inflation to remain at 6 percent in 2006/07: NRB
Nepalnews.com, July 23
The monitory policy of 2006/07, published by the Nepal Rastra Bank (NRB) has forecasted six percent inflation in the fiscal year 2006/07. more....
Nepse gains impressive 9.06 points
Nepalnews.com, July 23
The index of Nepal Stock Exchange (Nepse) continued its bullish trend posting a growth of 9.06 points over the week due to the rise in the share prices of the commercial banks. more....
HAN Flays Budget As Burden On SMEs
The Himalayan Times, July 23
The Handicraft Association of Nepal (HAN) has termed the recently announced budget for the fiscal year 2006-06 as yet another burden on the small and medium enterprises. more....
Monetary policy pleases bankers
The Himalayan Times, July 23
Monetary policy released by Bijay Nath Bhattarai, governor of the Nepal Rastra Bank (NRB) here today for the fiscal year 2063-64 seems to have brought to please the bankers by decreasing the capital adequacy ratio (CAR) to 11 per cent from earlier 12 per cent. But, the depositors are still under threat due to lack of serious homework by the central bank. more....
Monetary Policy Highlights
Nepalbiznews.com, July 24
Nepal Rastra Bank (NRB) has been making public its annual policy statement each year since fiscal year 2002-03. NRB, in its policy statement focuses on broader macroeconomic objectives of attaining stability, maintaining adequate level of international reserves and ensuring financial sector stability. more....
Change in Land policy can hit Finance Cos
eKantipur.com, July 24
Upendra Poudyal is the Chief Executive Officer of Nepal Merchant Banking and Finance Limited. An MBA degree holder from Tribhuwan University, Poudyal is also Co-convener of Banking and Finance Committee of Confederation of Nepalese Industries, Vice Chairman of Nepal Finance Companies Association and Secretary of Rotary Club, Kasthamandap. more....
Korean company keen on int'l airport in Pokhara
eKantipur.com, July 24
Korea South-South Cooperation Corporation (KSSCC), a North Korean construction company and De Rumale Pvt Ltd, its Nepalese counterpart, have once again shown interest in financing the construction of an international airport in Pokhara, which has only been on paper since the last three decades. more....
NOC's monthly loss totals Rs 660m
eKantipur.com, July 24
Rattled by soaring crude oil prices in the international market, the cash-strapped Nepal Oil Corporation (NOC) continued to incur rising losses, with its monthly loss reaching 660 million rupees. more....
Foreign employment up by 29 pc
eKantipur.com, July 24
An average of 500 persons left the country for employment purpose daily in the fiscal year 2005/06, reveals the annual report of Department of Labor and Employment Promotion (DoLEP). more....
Microsoft fights piracy in Nepal
Teleguportal.net, July 24
After fake currency, CDs and branded clothes and accessories, Nepal is fast becoming a hub of fake software, to the consternation of software giant Microsoft Corporation. more....
Travel, trekking, rafting open to foreign investment
eKantipur.com, July 25
As part of its commitment to the World Trade Organization, the government has opened travel, trekking and rafting business to foreign investment. more...
Melamchi, locals reach compromise on land
eKantipur.com, July 25
A committee formed to compensate locals in Sundarijal for 204 ropanis of land acquired by Melamchi project to build a water treatment plant has decided to release inflated compensation to land owners. Distribution of the agreed compensation would mean losses to the project worth Rs 231.75 million. more...
Melamchi still 'five years away'; locked project offices opened
Nepalnews.com, July 25
The Melamchi Drinking Water Project (MDWP), which is touted as the only long-term solution to the thirsty population of Kathmandu Valley, could at least take five years to complete even if works at the mega project go unhindered. more....
New Highest Railway Opens All-Round Inter-Regional Link Prospects
Commentary
Dr. Upendra Gautam
Spotlight, July 25
China naturally integrates with South Asia by mountains and rivers - specifically speaking the Himalayan range, and the integrity of flow of the Ganga , the Brahmputra and the Sutlej rivers. Now a new high-tech link is being developed. On 1 st of July, the 85 th anniversary day of the Chinese Communist Party, the first regular railway service to Lhasa was flagged off from Beijing . Covering 4062 KM, the train reached Lhasa after 48 hours. Thus, the railway service became yet another significant steel way to further solidly unify remote Tibet with the rest of the mainland China . more…
Saarc ministers to talk disputes over Safta implementation
The Daily Star, July 26
An emergency meeting of commerce ministers of South Asian Association for Regional Cooperation (Saarc) countries will be held in Dhaka on August 1-2 to discuss trade disputes among member countries over the implementation of South Asian Free Trade Area (Safta) agreement. more....
New Foreign Employment Law On Anvil
The Himalayan Times, July 26
With a view to streamline the foreign employment sector, the government is all set to bring a new Foreign Employment Law in the parliament soon. more....
Missing opportunity in pharma industry Current Features
Nepalbiznews.com, July 26
Despite the World Trade Organization (WTO)'s concession to the Least Developed Countries (LDCs) to refrain from obligation of providing patent rights to the new pharmaceutical products, Nepali pharmaceutical industries have been unable to cash in on this opportunity. more...
Nepal should diversify its products and markets
Nepalbiznews.com, July 26
Nepal should diversify its products and services as well as market and try to focus on niche products and markets to increase its share in global market, said Ratnakar Adhikari. more...
Emergency food op starved for donors
OneWorld South Asia, July 26
The U.N.'s World Food Programme has only raised 17 percent of the 5.4 million U.S. dollars it says it needs to buy and deliver rice and fortified wheat to 225,000 villagers in 10 districts. The region faces an annual "hunger gap", the period between harvests when crops run out and people survive by buying food with what they earn as labourers or with cash sent by relatives who have migrated to find work. more...
Govt bans labour export to Labanon, Israel
Nepalnews.com, July 26
The government has decided to ban the export of Nepali labourers to Lebanon and Israel in view of the deepening conflict there. more...
Open door aches tourism entrepreneurs
Nepalbiznews.com, July 26
Government’s decision to allow foreign investment in travel, trekking, and rafting business has disappointed the tourism industry entrepreneurs. The entrepreneurs from travel, trekking and rafting business have opined that foreign investment in these sectors might jeopardize national industries opening an avenue to boost up foreigners. more...
Revenue collection falls short of target
eKantipur.com, July 26
Stung by deteriorating business climate and the past royal regime's decision to slash customs duties on various commodities, the government registered a low growth of 2.8 percent in revenue mobilization over the last fiscal year. more...
UK to provide Rs 4.29b for development
eKantipur.com, July 26
The British government has announced an increase in its aid to Nepal by 10 percent to £33 million (Rs 4.29 billion) for the period April 2006 to March 2007, in response to recent political change and heightened prospects for peace. more...
Dr Pradhanang: Father of Village Tourism of Nepal
Peacejournalism.com, July 26
Dr Surendra Bhakta Pradhnang of Nepal is the man of honor having the cosmopolitan nature. He is the star of village tourism in Nepal appreciated his valuable works for village development and economy. His outstanding contribution and noble deeds are most beneficial and welfare-oriented to the society, people and country as a whole. more...
Area business does a fair trade in exotic clothing
canyoncourier.com, July 26
BERGEN PARK — Linda Hogan freely acknowledges that she’s no businesswoman, and that’s just one of the unusual and excellent things about Juna, her clothing shop in Bergen Village Shopping Center. more…
Peace through Economic Development in Post Conflict Situations in Nepal
Peacejournalism.com, Commentary
Dr. Hari Bansh Jha
July 26, 2006
Normally, conflict occurs mostly in poor countries. About 80 per cent of the world's poorest countries have civil war within 15 years (Kuroda, 2005). War resumes within five years in 44 per cent of all post conflict situations (Junne & Verkoren). Conflict has a tendency to perpetuate once it erupts as pervasive poverty makes societies more vulnerable to conflict; while conflict creates more space for poverty. The violent conflict itself is the prediction of future large scale violence. more…
Garment doldrums
Nepalbiznews.com, July 27
Nepalese garment sector has had to suffer remarkably following the phase out of quota system from the world on January 1, 2005 as Nepali entrepreneurs failed to diversify their market and identify the niche items of the goods. more...
IOC asks for 10.25 pc interest on dues
eKantipur.com, July 27
Indian Oil Corporation, supplier of petroleum products to Nepal, has demanded 10.25 percent interest from the debt-ridden Nepal Oil Corporation (NOC) for converting its outstanding payment dues into loans. more...
Govt to unveil Tourism Master Plan
eKantipur.com, July 27
The government will soon unveil a Tourism Master Plan to remove all legal hurdles coming in the way of tourism promotion. This was stated by Minister for Culture, Civil Aviation and Tourism Pradeep Gyawali on Wednesday in Kathmandu. more...
Foreigners can own 85 pc bank equity
eKantipur.com, July 27
Nepal Rastra Bank (NRB), the central bank of the country, has increased maximum foreign equity participation limit in domestic financial institutions to 85 percent from the present 67 percent. more...
China increases aid by 50 percent
eKantipur.com, July 27
China has agreed to provide grant assistance of 100 RMB (Chinese yuan) to Nepal to be used on mutually agreed economic and technical projects. more...
Senior ADB rep arrives; 'assistance in Melamchi will continue'
Nepalnews.com, July 27
In a series of arrivals of high-profile foreign delegates, Director General of the South Asia Department of the Asian Development Bank (ADB), Kunio Senga, arrived in Kathmandu Thursday. more...
Uncertainty And Budget
Commentary
Dr. Tilka Rawal
Spotlight, July 26
When I remember what I had written about the forthcoming budget –Dr Ram Sharan Mahat is not expected to move mountains- a couple of days before it was read in the reinstated parliament, I do not get frustrated mainly because of minimal gap between my expectation and realization. Frankly, anyone with some knowledge of the conflict-torn economy would not expect miracles from Dr. Mahat who took charge of managing almost-empty state coffers about two months before the budget was made public. more…
Business community for their participation in the constituent assembly
Nepalbiznews.com, July 28
Business community has asked the Interim Constitution Drafting Committee (ICDC) to ensure their participation in the election to constitution assembly through the interim constitution, as they are also an important community of the society. more...
TAAN turns apex org for trekking agents now Biz News
Nepalbiznews.com, July 28
The decision of the government to make mandatory provision of the registration of trekking agents in Trekking Agents Association Nepal (TAAN) for open walkathon has stimulated trekking and tourism entrepreneurs. more...
NOC still unsure to compensate dealers
Nepalbiznews.com, July 28
Nepal Oil Corporation (NOC) is still unsure if it would be able to provide compensation to the petroleum dealers for the loss they had to bear to displace kerosene pump from the original place although it promised to provide it within next six moths starting from mid August on Thursday. more...
Advertising Hoardings
RSS, July 28
Soft and hard drinks, cigarettes, household luxurious items, electronic items, motorcycles and vehicles, fast food restaurants are the largest advertising spenders in Nepal especially in the Kathmandu Valley. Most of these home and abroad products choose roadside or rooftop hoarding for their advertisement. We could see several bill colorful boards on the either side of the road, a few of them displaying their own ad. more...
Black gold’ still buried
Nepali Times, July 28
EDINBURGH—The three-month-old ceasefire has not persuaded the UK’s Cairn Energy to resume its search for oil under the tarai. more...
Special uneconomic zone: Every new budget reinvents the wheel with rehashed recycled programs
NepaliTimes.com, July 28
A budget that pleases all constituencies is a rare phenomenon. And pundits will tell you, like they told you last year and the year before, that this is a good budget if it can be implemented properly. more…
Dealers, NOC, ink agreement
eKantipur.com, July 28
Nepal Oil Corporation (NOC) and Nepal Petroleum Dealers Association (NPDA) on Thursday signed a 29-point agreement, whereby the corporation agreed to pay Rs 40,000 to each dealer who displaced their kerosene outlets from joint refilling stations. more…
Birgunj customs revenue falls
eKantipur.com, July 28
Stung by the intensification of smuggling and cut on customs duties on various commodities, Birgunj customs, the largest revenue generating customs in the country, registered a decline of 3 percent in revenue collection over the last fiscal year. more…
Automobiles to cost up to 15 pc more
eKantipur.com, July 28
Following the government's decision to revise customs and excise duties on four wheelers, automobile dealers have announced increases in the price of vehicles by up to 15 percent. more…
Privatize state-run media: MPs
eKantipur.com, July 28
Members of the House of Representatives on Friday urged the government to take immediate initiative for providing autonomy to state-run media so as to reduce the financial burden on the state and enhance media credibility. more…
Economic cost of the conflict
Nepalbiz.news.com, July 28
Most conflicts take place in poor countries. And conflicts, in turn, make people poor. Even in the post-conflict phase, the chances of resumption of war remain high. Following the end of hostilities, war resumes within five years in 44 per cent of all conflict-hit nations. more…
NRB profit stands at Rs 2.01b
The Himalayan Times, July 28
Nepal Rastra Bank (NRB), the central bank and monetary authority of the country, has registered a distributable profit of Rs 2.01 billion in the fifty year period since its inception. more…
Japan places priority on hydropower in Nepal
The Himalayan Times, July 28
A senior Japanese embassy official today said that Japan government has placed priority on boosting Nepal’s socio-economic development. more…
Million Japanese grant to construct hospital
Nepalbiz.news.com, July 29
Japan is proving grant assistance of Rs.6, 187, 056 (US$ 83,137) to the Association of Medical Doctors of Asia- Nepal (AMDA-Nepal) for the construction of a 15-bed hospital at Mechinagar municipality in Jhapa. more…
Can VDCs carry out dream budget?
Nepalbiz.news.com, July 29
Agni Neupane is a secretary of Hapur Village Development committee (VDC), a far-flung area of Dang district, the mid-west, who was obliged to be city centric carrying out all the rest documents of the VDC pursuing the CPN Maoist’s attack over the VDC building four years back. more…
ADB to support new budget
eKantipur.com, July 29
Director General of Asian Development Bank (ADB), South Asia Department Kunio Senga has expressed bank's strong commitment in supporting development priorities set in the budget for fiscal year 2006-07. This was stated in a press release issued by the ADB's Nepal office on Saturday at the end of his three-day official visit. more…
Monetary Policy affects stock market – NEPSE dips by 10.61 pts
eKantipur.com, July 29
The recently unveiled Monetary Policy has visible impacts on the stock market, with share prices of commercial banks treading on a decline. As a result, Nepal Stock Exchange Ltd (NEPSE) shed 10.61 points over the week. more…
Capitalize on gem mining potential - Ignored Nepali Treasure
Commentary
Hari Bhakta Upadhyaya
eKantipur.com, July 29
Since the beginning of human civilizations, the multicolored natural stones like diamonds, ruby, sapphire, emerald etc. have been the most exciting objects to mankind. In recent days, the gem aesthetics, made possible with the advancement in modern technologies, that design beautiful jewelries and ornaments out of the stones have contributed to make them even more precious. Gems have already made their own international market. more…
Monetary Policy-2063/64
Editorial
Uttam Maharjan
Gorkhapatra, July 29, 2006
IN accordance with the practice of announcing the monetary policy on the heels of the budget announcement, the Government of Nepal announced the monetary policy for fiscal year 2063/64 on July 23. The main thrust of the monetary policy is to contain inflation, which reached a whopping 8 per cent at the end of the last fiscal year despite the target of keeping it at 5 per cent. Inflation has risen due to a hike in the price of oil in the world market. On the domestic front, the cumulative loss of Nepal Oil Corporation is to blame for the spiralling inflation. This fiscal year, the inflation rate is to be capped at 6 per cent by withdrawing excess liquidity from the market. more…
Driving benefit from SAFTA
Editorial
Anu Mahmud
The New Nation, 29 Julu 2006
The (SAFTA) South Asian Free Trade Agreement has been implemented from July 1, 2006, which is operating under the framework of the South Asian Association for Regional Cooperation (SAARC). The SAARC includes Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. Afghanistan will join the group next year. India, Pakistan and Sri Lanka belong to the group of the developing countries while the least developed countries. more…
Gherao in Nepal Stock Exchange
Nepalbiznews.com, July 30
Nepal Stock Exchange Limited popularly known as NEPSE has remained closed on Sunday following a protest organised by the investors and brokers. more…
Economic diplomacy urgent necessity
Nepalbiznews.com, July 30
Private sector representatives, government officials, foreign policy experts and other stakeholders have reiterated that Nepal's foreign policy has to be redefined in accordance with the changed context of globalization and to cater the aspirations of Nepalese people after mass movement -2. more…
Legal lacuna disappoints cargo entrepreneurs
Nepalbiznews.com, July 31
Despite the effort to make specific cargo law, legal lacuna over the years pertaining cargo business has disappointed the freight entrepreneurs. more…
History high price of gold last year Biz News
Nepalbiznews.com, July 31
The last fiscal year was the period the gold witnessed the history’s highest price with the increased price of petroleum products and Iranian nuclear crisis. more…
One village one product rolling ahead
Nepalbiznews.com, July 31
The government is all set to go for implementing "one village one product" programme on public private partnership basis with selection of 2 to 3 VDCs from each district out of 9 selected for the project as per the recent budget announcement. more…
"Abnormality in middle Marshyangdi": NEA Chief
Nepalbiznews.com, July 31
Management of Nepal Electricity Authority (NEA) on Tuesday has appealed to form a high-level parliamentary committee to probe the irregularities of ongoing middle Marshyangdi hydro electricity project located about 170 km west of Kathmandu, in Lamjung district. more…
Biz Briefs
The Himalayan Times, July 31
Machhapuchchhre Bank Ltd (MBL) has opened an ATM counter at the gate of Nepal Rastra Bank (NRB) central office, Baluwatar. more…
Yak & Yeti resumes operation
The Himalayan Times, July 31
After eight months of closure, Yak & Yeti, one of the six 5-star hotels in Kathmandu, is all set to resume its operations from Tuesday, ending loggerheads between the management and the trade unions. more…
BIMSTEC implementation hits more roadblocks
The Himalayan Times, July 31
Despite BIMSTEC free trade area (FTA) agreement having been scheduled to come into force from July 1, 2006, it could not happen due to political situation in Thailand. Member countries of the BIMSTEC Trade Negotiating Committee (TNC) have failed to meet the deadline on ‘trade-in-goods’ for tariff reduction in the meeting held from July 25 to 28 in Colombo. more…
NEA's loss swells to Rs 2.70b
ekantipur.com, July 31
High capital cost, leakage, outstanding arrears and tariff structure has ballooned Nepal Electricity Authority's (NEA's) loss to over Rs 2.70 billion in 2005/06, said NEA Chief Arjun Kumar Karki. more…
Carpet export down by 11 pc
ekantipur.com, July 31
Hand-knotted woolen carpet industry, the second largest export commodity of the country, suffered a double-digit decline in export in the last fiscal year, indicating tough days ahead. more…
