Reposted from Xinhua
South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.
The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report. More…
A slower growth rate of Nepal’s major trade partner India has affected the Nepali economy.
KATHMANDU: The International Monetary Fund (IMF) has projected three per cent growth rate for Nepal in 2013 — the lowest in the last one decade.
International Monetary Fund is the third agency that has predicted a gloomy outlook for the Nepali economy in the current fiscal year. More…
More than 300 companies are listed on the Nepal Stock Exchange
KATHMANDU: Investors experienced almost a yearlong bullish streak following three long years of a bearish trend as the stock market index surged by 63.5 per cent in the year 2069 BS.
The secondary market that had closed at 319.94 points in the last trading day of 2068 BS‚ reached 523.41 points by the closing of the last trading day of this year‚ gaining a whopping 203.47 points. This is first time in the last five years that the market has closed at such a high. More…
Nepal Rastra Bank
KATHMANDU, April 2: Nepal Rastra Bank (NRB), the central monetary authority, has decided to take the management of Nepal Bank Limited (NBL) for one more year, stating that the process of raising paid-up capital of the bank has not been completed yet.
The board meeting of NRB held on Monday took the decision. The central bank had earlier said that it would exit the management of the ailing state-owned bank this month. More…
The government had introduced the directives in mid-March, opening up the petroleum business for the private sector.
KATHMANDU: Three major stakeholders of the petroleum business today threatened to halt petroleum supply from April 7, if the government does not revise its new decision.
Nepal LP Gas Industries Association, Nepal Petroleum Dealers’ Association and Nepal Petroleum Transporters’ Association, organising a press meet today, announced their protest programmes starting from April 2 and said they would completely halt the distribution of petroleum products from April 7, if the government does not roll back the Petroleum and Gas Trading Monitoring Directives-2069. More…
Nepal’s own self-styled micro-finance gurus have not been lagging behind in claiming to have extended the service to many million people.
The intensity of devotion with which Professor Mohammad Yunus, the Nobel Laureate Grameen Bank guru from Bangladesh was greeted recently in Kathmandu was a testimony to a devotion of the large community of micro-finance professionals to the cause in Nepal too. However, despite Nepal’s own history of micro-finance being at least as long as that of Bangladesh, poverty remains chronically widespread and deep-seated among the people particularly at the lower echelons of society, even as it has been the remittances from abroad that have contributed to the rather dramatic reductions in Nepal’s poverty in recent decades. More…
According to Joshi, the final meeting for the Cash Incentive Regulation will be organised within this week, which will approve the new regulation.
KATHMANDU: With the new Cash Incentive Regulation, both exporters and manufacturers will soon be able to enjoy the cash incentive facility. The Ministry of Commerce and Supplies (MoCS) in its cash incentive regulation draft has mentioned about allowing the facility for both exporters and manufacturers based on minimum value addition to products.
“We have already submitted our final draft to the high level committee which will make its final decision in a meeting this week,” said secretary at the ministry Lal Mani Joshi. More…
Chief Secretary Leela Mani Paudyal along with representatives from Nepal Investment Board and International Finance Corporation during a workshop on Thursday.
KATHMANDU: The country must abolish the lengthy foreign direct investment (FDI) approval process, minimum investment requirement, expatriate work permit system, and simplify the currency repatriation procedures to attract more foreign direct investment to the country, recommended investment experts.
Countries that have addressed key impediments like lengthy foreign direct investment approval process and started fast track procedures with no unnecessary screening, and created a level playing field have attracted more FDI, according to World Bank data, they said during a workshop on ‘Making Investment Competitiveness for Nepal a Reality’, jointly organised by Nepal Investment Board and SouthAsia Enterprise Development Facility, managed by the International Finance Corporation, in partnership with the UK government and Norwegian Agency for Development Cooperation, here today. More…
Nepal stands second (with Brazil at first) in terms of national water resources.
KATHMANDU: It has been long discussed about exploiting water resources in Nepal multilaterally. One among it was harnessing the Koshi River basin in eastern Nepal with concerted effort of Nepal‚ India and probably Bangladesh. More…
UAE businessmen will visit Nepal soon to explore business opportunities.
KATHMANDU: Non-resident ambassador of the UAE to Nepal Mohamed Sultan Abdalla Al Owais, speaking at a programme here today, said that Nepal offers a lot of opportunity to investors. More…
