KATHMANDU, April 11: The inflow of remittance has begun to witness a sharp plunge. The tourism industry faces the biggest catastrophe in Nepal's recent history. And there is only a slim chance for the country's exports to grow any further.
KATHMANDU, March 31: The government has barred import of luxury vehicles and a number of expensive edibles to avoid possible fall in foreign currency reserve of the country as economic activities come to a halt due to COVID-19 outbreak.
The United States told the United Nations that the killing of Iranian commander Qasem Soleimani was in self-defence and vowed to take additional action “as necessary” in the Middle East to protect US personnel and interests. On other side, Iran retaliated by firing 20 ballistic missiles at two military bases in Iraq where United States troops were stationed. It is believed that driving out the presence of United States from the region was the major objective of Iran and Soleimani’s personal mission. So the bigger picture is Iran lost its best military strategist and the assassination ensured the elimination of a man who America saw as potential challenger of its primacy in region.
KATHMANDU, Oct 24: Breaking from a trend of continuous growth in the remittance inflow, the money transfer of Nepali workers from abroad has observed a decline in the first two months of the current Fiscal Year 2019/20.
Having two decades of experience in marketing, brand management and sales team management, Sabrina Chan joined MoneyGram in 2004. The Marketing Head of Asia Pacific, South Asia and Middle East, Chan has expanded her remit to cover more regions including South Asia and the Middle East region developing and leading the regional initiatives for more than 25 countries.
When the basics are not gotten right, analysis becomes wonky and the resulting policy misguided. We can then only pray for Lord Pashupatinath to come to the rescue. It is fashionable among the commentariat, the intelligentsia and the political class to sigh in despair over how little of the remittances sent home by Nepalis toiling abroad is saved. If you ask them how they know that remittance receivers do not save much, they are likely to point to either media reports or the survey such reports cite—the Third Nepal Living Standards Survey (NLSS)of 2010/11.
NEW YORK, June 15: The International Organization for Migration (IOM)—together with the International Fund for Agricultural Development (IFAD), the UN Department of Economic and Social Affairs (DESA), and the 2019 Global Forum on Migration and Development (GFMD) Chairmanship—is hosting a high-level meeting at the UN Headquarters on Sunday.
KATHMANDU: Nepali migrant workers are spending around Rs 18 billion to send remittance home annually. According to a report by the Ministry of Employment and Social Security, a migrant worker spends up to 4.5 percent to send US $200 to Nepal.
KATHMANDU, Feb 8: A government taskforce has suggested reducing the cost of remitting money to Nepal through banks or remittance companies for encouraging migrant workers to send money home using formal channels.
KATHMANDU, Dec 24: The Nepal Rastra Bank (NRB) has revealed that the remittance inflow has increased by 36.4 per cent in the four months of the current fiscal year while the nation's balance of payment (BoP) remains at a deficit of Rs 57.33 billion.
KATHMANDU, Nov 26: Remittance inflow to the country has grown by a record 37.3 percent to Rs 242.17 billion in the first three months of current Fiscal Year 2018/19 despite significant decline in the rate of Nepali workers migrating abroad.
KATHMANDU, Nov 22: Remittance growth is on a decline for the past few months, raising concerns that slow growth of money sent by migrant workers abroad could build pressure on the country's external sector stability.
KHOTANG, Sept 27: Financial literacy classes are being operated in Rupakot Majhuwagadi municipality of Khotang to help the locals better use the remittance money that enters the district from foreign employment. The classes aim to help the people save and utilize the remittance money by investing it in productive sectors to create a sustainable source of income.
KATHMANDU, March 23: Boom Remittance Pvt Ltd has appointed Kasthamandap Development Bank Ltd as its agent. Issuing a statement on Wednesday, the bank said that the money sent via Boom Remittance can be withdrawn from 19 branch offices of Kasthamandap Development Bank Ltd throughout the country.
KATHMANDU, Dec 28: Mega Bank Ltd and Samsara Remit Pvt Ltd have signed a Memorandum of Understanding to provide remittance services. As per a statement issued by Mega Bank, Rabina Desraj Joshi, deputy general manager of the bank, and Jeevan Babu Shrestha, executive vice president of Samsara Remit, signed the agreement on behalf of their respective companies.
SIRAHA, Oct 20: Bishnu Prasad Shah of Majhura village is a Qatar-based migrant worker. After hard labor for over a decade, Shah built a concrete house in his village and purchased a piece of land in Lahan. Shah is not sure whether he did right or wrong by spending all the hard-earned money to buy land and make a house, but he is happy with the limelight these possessions have given him. Both assets has enlisted him into the village's rich club and now feels that he has become a highly respected man in his locality.
KATHMANDU, July 7: Himalayan Bank Limited (HBL) and Tranglo Sendirian Berhad (Tranglo) have signed a remittance agreement. Issuing a statement, the commercial bank said that it signed the agreement with one of Asia's leading money transfer operator to offer inward remittance service to Nepal.