Blogs & Articles
Nepal Hosts First International LGBTIQ Tourism Conference
Nepal made history by hosting its inaugural international LGBTIQ tourism conference in Kathmandu. The event, spearheaded by Sunil Babu Pant, Asia’s first openly gay former parliamentarian, aimed to spotlight Nepal’s strides towards inclusivity and economic empowerment for the LGBTIQ community. Once marred by biases and discrimination, Nepal has undergone a remarkable transformation, with the legal […]
Read More
Mount Everest Ascent Season Boosts Government Revenue
The government has seen a surge in revenue, surpassing Rs 500 million in royalty collection with the onset of the Mount Everest ascent season. According to the Tourism Department, Rs 505 million was collected from 352 individuals who obtained climbing permits for Mount Everest, the world’s highest peak. Rakesh Gurung, Director at the Adventure Tourism […]
Read More
Over 550,000 Acquire Overseas Work Permits in Nepal
Approximately 550,000 individuals have secured work permits for overseas employment until April 12 of the current fiscal year 2023/24. During the period from March 14 to April 12, 70,933 workers obtained work permits, indicating a steady flow of individuals seeking opportunities abroad. According to Kabiraj Upreti, Director at the Department of Foreign Employment, out of […]
Read More
Nepal Finance Minister Urges US Investors for Opportunities
Finance Minister Barshaman Pun, currently in the US, has captured the attention of American investors towards Nepal. He urged them to explore investment prospects. During a roundtable discussion organized by the US Chamber of Commerce in Washington on Wednesday, Finance Minister Pun emphasized the need for investors to identify opportunities in Nepal. Anjali Kaur, Deputy […]
Read More
Nepal Oil Corporation Commences Construction of Petroleum Storage Facility in Rupandehi
In a significant development, the Nepal Oil Corporation (NOC) has embarked on the construction of a modern petroleum storage facility along the banks of the Rohini River in Rupandehi. The construction project, spanning the boundary areas of Omsatiya and Rohini Rural Municipalities, commenced with the joint inauguration led by Manjit Kumar Yadav, Chairperson of Omsatiya […]
Read More
World Bank to Lead Funding for 1,063 MW Upper Arun Hydropower Project in Nepal
In a significant development, the World Bank has agreed “in principle” to spearhead the financing efforts for the ambitious 1,063 MW Upper Arun hydropower project in Sankhuwasabha, Nepal, announced the Finance Ministry on Friday. The Upper Arun project, situated along the Arun River in eastern Nepal, is projected to require an investment of $1.71 billion. […]
Read More
Nepal Finance Minister Advocates for Increased World Bank Support in Washington Meeting
Nepal’s Finance Minister, Barsa Man Pun, recently met with Akihiko (Aki) Nishio, Vice President of Development Finance, and Guangzhe Chen, Vice President for Infrastructure, at the World Bank in Washington. During the meeting, Minister Pun expressed gratitude to Vice Chairman Akihiko (Aki) Nishio for agreeing to host the 21st meeting of the International Development Association […]
Read More
Nepal Rastra Bank Proposes QR Code Payment Limits for Indian Transactions
A recent proposal by Nepal’s central bank suggests imposing limits on payments made via Quick Response (QR) codes for Nepali nationals in India, aiming to enhance financial transparency and security. The panel suggests capping monthly QR code payments at IRs 100,000 (Rs160,000), except for transactions at specific locations like hotels, hospitals, and medicine shops, where […]
Read More
Biden Administration Approves $6.4 Billion Funding for Samsung Chip Manufacturing in Texas
The Biden administration recently greenlit a significant financial package of up to $6.4 billion for Samsung Electronics to establish a cutting-edge computer chip manufacturing and research hub in Texas. This strategic move, in line with the CHIPS and Science Act signed by President Joe Biden in 2022, aims to bolster domestic production of advanced computer […]
Read More
US Chamber of Commerce Delegation to Attend Nepal Investment Summit
A delegation from the US Chamber of Commerce is set to participate in Nepal’s Investment Summit scheduled for April 28 and April 29. US Ambassador to Nepal, Dean Thompson, conveyed this information during a meeting with Minister of Finance Barshaman Pun at the Ministry of Finance on Monday. The meeting delved into various mutual interests, […]
Read More