FinMin to request WBG to increase development assistance

Nepal is planning to seek more assistance from the World Bank Group (WBG) citing that the country needs to invest huge resources in the infrastructure sector to spur economic growth. Finance Minister Yubaraj Khatiwada has said that he will conduct special deliberations with theexecutive board at the World Bank headquarters in Washington DCon Monday. The
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Though both the government and Nepal Rastra Bank (NRB) have introduced some policies that are favourable to the stock market, the country’s sole secondary bourse has yet to pick up pace. In fact, NRB recently also allowed stockbrokers to extend margin lending and the unaudited financial statements published by a few banks and financial institutions
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Kathmandu –The big, medium and small-scale industries being operated in the country now are required to submit industrial details through online mechanism. Following the discussion with the service recipients, the Department of Industry has put forward the idea of online submission of industrial information. With the online system in place, the industries have to submit
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Nepal Airlines Corporation (NAC) is planning to buy 13 more large planes within the next five years. The NAC executive committee has decided to expand the international fleet of the national flag carrier by acquiring five more wide-body aircraft and eight narrow-body planes. “On Tuesday, the NAC’s executive committee approved a five-year plan to expand
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KATHMANDU: Nepal Airlines Corporation’s Airbus A330-200 plane ‘Annapurna’ conducted its maiden commercial flight to Doha with 99 per cent occupancy on Wednesday. As per Sailesh Kansakar, assistant spokesperson for NAC, 271 passengers were on board the 274-seater aircraft. Scheduled to take off from Tribhuvan International Airport for Hamad International Airport in Doha of Qatar at 10:00
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The government of United Arab Emirates (UAE) today announced a three-month amnesty period for migrant workers of various nations that have overstayed their visa to leave the country with no legal repercussions. In a bid to resolve a Catch-22 situation facing ‘illegal’ foreign workers, who are fined daily for overstaying their permits but prevented from
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Nepali workers are compelled to face various problems related to payment, safety and security in both domestic labour market and foreign employment sector. In a bid to safeguard the rights of Nepali workers in the country and in foreign destinations, the government has initiated a few reformative measures in recent times, including preparations to sign
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Kathmandu, July 31 The government and brick kiln entrepreneurs have agreed to end the use of child labour in the brick industry. Minister of Labour, Employment and Social Security Gokarna Bista and Mahendra Bahadur Chitrakar, president of the Federation of Nepal Brick Industries (FNBI), signed an agreement to that effect today. “After holding a series of
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Kathmandu, July 30 The first-ever long-range aircraft of Nepal Airlines Corporation – Airbus A330-200 wide-body plane that has been christened ‘Annapurna’ with call sign 9N ALY – has finally got the air operator’s certificate (AOC) from the Civil Aviation Authority of Nepal (CAAN). The national flag carrier had earlier set a target to start operating the
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Kathmandu, July 30 Nepal Rastra Bank (NRB) – the central regulatory and monetary authority – has provided additional time for commercial banks to publish their unaudited financial statements from the fourth quarter of the previous fiscal 2017-18 to the end of ongoing fiscal 2018-19. Amending the provision, under which banks and financial institutions have to
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