Ghimire is associated with Republica, English National Daily, since November 2013. He reports and writes on banking, financial, cooperatives, labor, foreign employment and Mount Everest expedition issues. Twitter:@sagarghi email@example.com
KATHMANDU, June 13: The falling number of Nepali workers going for foreign employment after the enforcement of the 'free-visa-free-ticket' system is due to not any slowdown in demand but supply side issues, according to a report issued by Nepal Rastra Bank (NRB).
People with annual earnings of up to Rs 450,000 will have to pay only 1% social security tax for Rs 350,000 and 10% of the remaining Rs 100,000. Under this taxation, the total income tax on annual income of Rs 450,000 will be Rs 13,500.
MANILA, Philippines, May 5: Nepal has sought investment from the Asian Development Bank (ADB) on major infrastructure projects that can link urban and rural areas, support the implementation of federalism, provide grants for the earthquake reconstruction efforts, and finance programs to achieve Sustainable Development Goals (SDGs).
Japan International Cooperation Agency (JICA) has been engaged in Nepal as a development partner of Nepal since 1969. The support, which mainly includes grant assistance, concessional loan and technical cooperation, has been on wide range of sectors with twin aim of helping Nepal achieve socio-economic development and promoting friendship between the two countries. JICA has also been on the forefront in helping Nepal for reconstruction after the 2015 earthquakes.
KATHMANDU, March 27: Nepal Stock Exchange (Nepse), the only stock market of the country, crashed on Monday as the benchmark index plunged 51.89 points, or 4.25 percent, on a single day to close at 1,168.55 points.
KATHMANDU, March 21: Trade and Export Promotion Center (TEPC) has said that Nepali traders are indulging in under-invoicing at customs points while exporting hand-knotted carpet to China, raising suspicion of money laundering and tax evasion by the carpet industry.
The contract for the appointment was already signed. Nabil Bank's board meeting approved the agreement few days after signing it and sent the notification to the NRB and the stock exchange [company]. It just so happened that on the same day the NRB also passed a directive to implement the six-month cooling off period.
KATHMANDU, March 10: Nepal Bankers Association (NBA) on Friday told its member banks to suspend their interbank transactions with NIC Asia Bank Ltd for raising interests on deposits “in breach of an informal understanding to cap the interest rates.”
KATHMANDU, March 8: The government has revised down the economic growth forecast to 6 percent for the current fiscal year 2017/18 from the previous economic growth target of 7.2 percent. Releasing the mid-term review report of the budget for the current fiscal year, the Ministry of Finance lowered the growth forecast by 1.2 percentage points to 6 percent for the current fiscal year.
Investment Board finalizes a much-awaited agreement with Finnish joint venture for the management of the municipal solid waste. Each household will have to pay Rs 219 per month as waste collection service fees.
KATHMANDU, Mar 7: Minister for Finance, Yubaraj Khatiwada, is planning to issue white paper to make public the current economic position of the country and the measures that the government plan to take to deal with the ongoing economic and financial challenges.
KATHMANDU, Feb 27: Prime Minister KP Oli has chosen Yuba Raj Khatiwada, a monetary economist, as the Minister for Finance and Policy, overlooking other senior leaders of his own party to lead a crucial ministry that is responsible for maintaining both micro and macroeconomic stability in the country.
KATHMANDU, Feb 17: Engagement of private sector in promoting climate smart agriculture can be beneficial for both farmers and private sector if the results of a pilot program for climate resilient agriculture are something to go by.