NEWS

Concerns have grown in Nepal recently as several economic indices have declined. Economists have ascribed the recent increase in imports and the balance of payments deficit to be culprits of slowing down of economy. The economy is in shambles as a result of a drop in remittances, the primary source of foreign money, growing imports, and a…

The UN General Assembly has approved a proposal to upgrade Nepal from an underdeveloped country to a moderately developing country by 2026.The resolution was submitted to the General Assembly by the United Nations Economic and Social Council for approval. According to Amrit Rai, Chief of Nepal's Permanent Mission to the United Nations, the…

As a result of COVID-19, the government is planning to seek out new destinations and send foreign workers to fill the void.The administration is preparing to expand job opportunities beyond the Gulf region by conducting research and conversations with other countries.Only nine nations have so far signed labor agreements with Nepal. The…

Nepal Telecom has been granted permission to begin testing the much-anticipated 5G Mobile Internet.The Nepal Telecommunications Authority has granted authorization for Nepal Telecom to conduct 5G tests. Achutananda Mishra, NEA Assistant Director, said that the telco has been granted permission to undertake a 5G test.Dilli Adhikari, the…

An aggressive domestic airline, Buddha Air, plans to develop its business on the STOL (Short Take Off and Landing) route by turning it into a hub for three distinct destinations.The company plans to aggressively expand its business on the STOL routes by making Manthali for the east, Pokhara for the west and Nepalgunj for the far west as a…

Efforts to implement the national payment switch began Thursday, when the Nepal Clearing House launched its service after receiving authorization from the Nepal Rastra Bank to do so.To facilitate money transfers, the payment gateway connects banks and digital payment providers. A total of 29 financial institutions have joined the national…

In the next six months, the Nepal Electricity Authority (NEA) plans to open 50 charging stations for electric vehicles (EVs).Charger devices have already been purchased, and NEA says it has identified the places where infrastructure will be installed. Nepal Electricity Authority (NEA) spokeswoman Suresh Bahadur Bhattarai said building of…

Real estate prices in Nepal have risen by 26.45%, according to the Nepal Rastra Bank. On Friday, the bank released a real estate price survey report, and it stated this point.In the fiscal year 2076/77, the average annual rate of real estate inflation was 26.45 percent, compared to 19.73 percent in the previous fiscal year.Similarly, in…

According to a new report from McKinsey & Co.'s research arm, global wealth has tripled over the past two decades, making China the richest country in the world.The report is based on the balance sheets of 10 countries, accounting for more than 60 percent of the world's gross domestic product. McKinsey Global Institute Zurich partner…

Regular flights between Kathmandu and Bangkok have resumed after a hiatus of more than a year and a half. Since Covid-19, the flights in this route, which had been grounded, was resumed from Monday.As a result of low passenger numbers, the fare for this destination has increased by an extra Rs 12,000 to Rs 35,000, according to the company.…