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25% of migrant workers' earning goes to repay loans: NRB report
Source: RSS

25% of migrant workers' earning goes to repay loans: NRB report

Nearly 52.1 percent of Nepali migrant workers still rely on informal channel like local landlords and traders for loans to finance their foreign employment trip, requiring them to allocate a major chunk of their earnings for the repayment. A report prepared by the Research Department of the Nepal Rastra Bank (NRB) shows that 4.4 percent of migrant workers borrow from cooperatives, while 3.5 pe...


Govt to lift Afghanistan, Iraq ban for Nepali workers: Minister Gurung

Minister for Labor and Employment Suryaman Gurung on Monday said that the government is preparing to lift the ban on Nepali workers for Afghanistan and Iraq. According to him, a next meeting of the Council of Ministers will take a decision to this effect. He claimed that the US and British Ambassadors for Nepal have pressed Prime Minister Pushpa Kamal Dahal to lift the ban on Nepalis working i...


Leader Poudel requests Japan for support in agro technology

Nepali Congress senior leader Ram Chandra Poudel has stressed the need of expanding Nepal-Japan relations for trade and investment in Nepal. At a progrmme organsied by Nepal Chamber of Commerce here Sunday on the occasion of 60th establishment of Nepal-Japan diplomatic relations, NC senior leader Poudel urged the Japanese government to provide support in agricultural technology to advance the ...


Remittances decline as number of outbound workers fall

Remittance inflow has declined 2.5 percent in the first month of the current fiscal year 2016/17 to Rs 51.94 billion, indicating uneasy days ahead for the economy. According to a monthly report of Nepal Rastra Bank released on Thursday, the country received only Rs 51.94 billion in remittances in the first month, down from Rs 53.72 billion in the corresponding period last fiscal year. The...


Veggie prices soar on rising demand, dropping supplies
Source: RSS

Veggie prices soar on rising demand, dropping supplies

Vegetable prices in Kathmandu have more than doubled in the past week with the start of the Sorah Shradha sacred season when devotees go vegetarian and the summer vegetable production season drawing to a close. A mismatch in the demand-supply situation has pushed up wholesale and retail prices of most vegetables at Kalimati, the countrys largest vegetable market. The price of bitter gourd, for ...


Govt committed to create investment friendly environment: DPM Mahara
Source: RSS

Govt committed to create investment friendly environment: DPM Mahara

Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara has stressed on the effective role of economic journalists to strengthen the national economy. While addressing the 17th annual general meeting of the Society of Economic Journalists of Nepal (SEJON), Mahara said that long struggle requires to bring take the national economy to the reach of the common people. He said that ...


Nepal drops two notches in economic freedom

Nepal has ranked 108 out of 159 countries and territories included in the Economic Freedom of the World: 2016 Annual Report, released on Thursday by Samriddhi Foundation in conjunction with Canadas Fraser Institute. Samriddhi Foundation is releasing the report in Nepal for the ninth consecutive year. Last year, Nepal was at the 106th position with a score of 6.56. With an overall score of ...


Asian markets sink after Wall Street sell-off

Asian markets mostly fell on Wednesday as uncertainty over the future of central bank monetary policy weighed on buying interest while warnings of an extended oil glut sank energy firms. The regions traders were given a rocky lead from Wall Street where all three main indexes ended more than one percent lower after a plunge in crude prices shredded already tender nerves. Investors are trying...


New Nepali envoys take stock of economic priorities
Source: RSS

New Nepali envoys take stock of economic priorities

Nepals new ambassadors to the United Kingdom, Germany, Brazil and Austria -- as a group -- are busy these days holding discussions and interactions with industrialists and people in the private sector seeking their view on economic priorities and interests to promote the same abroad. Private sector executives say they have never before been approached by this number of ambassadors at the same...


Timbu Pokhari drawing more tourists
Source: RSS

Timbu Pokhari drawing more tourists

Timbu Pokhari, the famous touristic destination in eastern Nepal, attracts thousands of trekkers annually. There has been a significant increase in the number of tourists visiting the place, of late. The place also holds a high religious significance. A beautiful pond on the lap of the Himalayas that lies on the border of Taplejung and Panchthar districts is grabbing staggering number of t...


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