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Indian transporters start shipment to Nepal

Indian transporters have started shipping power transformers to Nepal from the Kolkata Port since Thursday, after a halt of more than a week due to payment issues. The transporters had been halting the shipments, citing Nepali importers failure to settle freight and other dues. They have now agreed to release containers of those importers who have regularly paid the charges. We had requested the...

Paddy production dropped by 20 percent in Mahottari

The paddy production in Mahottari district has been dropped by 20 percent in comparison to the last year. 75,000 metric tons of paddy was produced in 35,625 hectares of land this year in comparison to 93750 metric ton in 37,500 hectares of land last year, Chief of District Agriculture Office Sukeshwor Jha said. The production has been dropped by 20 percent in comparison to last year, he said...

Construction works of five hydropower projects obstructed for lack of petroleum products
Source: RSS

Construction works of five hydropower projects obstructed for lack of petroleum products

Construction works of five hydropower projects have been obstructed for lack of petroleum products following Tarai banda for the past three months and unannounced border blockade imposed by India. The construction works of 50-MW Upper Marsyangdi A hydropower project, 3-MW Lower Midim Hydropower project, 28-MW Super Dordi hydropower project, 49-MW Lower Dordi hydropower project and 25-MW Upper ...

NOC brings 40,000 lt of aviation fuel thru private sector

KATHMANDU: Nepal Oil Corporation, for the first time, has brought some 40,000 litres of air fuel through private sector. A private company come up with international competition, Petrolimax Nepal, brought the aviation fuel by Jordan Air from Lucknow, India, on Thursday. Following the Indias undeclared blockade, the NOC had opened an international bid on importing the aviation fuel ...

39 fuel carrying vehicles enter via Jogbani

MORANG: A total of 39 fuel-laden tankers have entered Nepal via Jogbani point in Biratnagar on Thursday amid Indias unofficial blockade. Officer of the Biratnagar Customs Office, Rajendra Dhungana, said that 27 tankers carrying diesel and 12 tankers of petrol entered Nepal from early morning to till night on Thursday. Dhungana also said that 149 goods loaded vehicles also arrived in Nepal on...

Permanent mechanism for addressing crises suggested
Source: RSS

Permanent mechanism for addressing crises suggested

KATHMANDU: Experts have suggested a permanent mechanism for fighting the current crisis and also for addressing long-term problems. They have recommended setting up a permanent mechanism -- of at least joint-secretary level and including the Finance, Foreign and Commerce and Supplies Ministries -- to facilitate and fast-track intergovernmental cooperation. Speaking at an interaction organized b...

Flourishing informal economy worries FinMin

KATHMANDU: Minister for Finance Bishnu Prasad Paudel has expressed worries about informal economy that is flourishing in the lead up to the Tarai unrest and subsequent economic blockade imposed by India. Addressing a program organized by Society of Economic Journalists Nepal (Sejon) in the capital on Tuesday to mark its 18th Annual Day, Paudel warned that black economy would be difficult to tam...

IMF adds China's yuan to basket of top currencies

WASHINGTON: The Chinese yuan will join a basket of the worlds leading currencies, the International Monetary Fund announced Monday. The IMF said that the yuan met all existing criteria to be included with the U.S. dollar, euro, Japanese yen and the British pound as one of the currencies used for the global organizations Special Drawing Rights, which serves as a standard for dealing with the fin...

Ethiopian Airlines craft to airlift ATF to KTM from today
Source: RSS

Ethiopian Airlines craft to airlift ATF to KTM from today

KATHMANDU, Nov 30: Ethiopian Airlines is all set to airlift Aviation Turbine Fuel (ATF) from Monday. According to Nepal Oil Corporation (NOC), Ethiopian Airlines has agreed to airlift ATF from Kolkata. As per the agreement with Petrolemax, who will be using Ethiopian Airlines aircraft to bring ATF, NOC will be buying 6,000 kiloliters of ATF. We have signed an agreement with Petrolemax to air...

Nepse index retreats below 1,050 pts
Source: RSS

Nepse index retreats below 1,050 pts

The countrys only secondary market saw massive volatility as the political gridlock continues to cripple the countrys economy, which has been compounded by Indias unofficial blockade. Hence, the Nepal Stock Exchange (Nepse) index plummeted by 50.56 points or 4.6 per cent week-on-week to retract below the psychological level of 1,050 points in the week, from November 22 to 26. Stock investors ar...

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