Lovers of jewelry in Nepal are facing a test as prices of gold have hit record high on September 15, 2024. FENEGOSIDA said that fine gold has been trading at Rs. 1,56,800 per tola and this was up from the previous trading rate of 1,56,300 per tola. It has led to talks about the causes behind this impressive rise and its effects on the nation’s economy and consumers as well as the investors. This is not the only effect which has been observed and seems to be part of a movement which has been witnessed over the past few weeks.…
Author: nadmin
The Nepalese market of digital payments is rapidly expanding: the transaction traffic has increased by more than 200% within the past year. This emerging Fintech revolution is gradually changing the way people of Nepal, especially the common populace, perform their financial transactions whether in the cities or the villages. According to the Nepal Rastra Bank (NRB) mobile banking has more than 15 million users that are nearly 50 % of the population. QR code payments are now prevalent with even the small shops on the streets and local vendors adopting the technology. These include the following reasons; The outbreak of…
People of Kathmandu Valley are in a very critical situation of water scarcity as the Melamchi Water Supply Project is still in problem. The project which has been planned to provide 170 million litres of water daily from Melamchi River in Sindhupalchowk district to the valley has been under construction for more than two decades. The previous delay was due to the adverse effects of floods and landslages that occurred in 2021 that affected the infrastructure of the project. In spite of the government’s promises, the repair work has been very slow and millions of the valley residents continue to…
NEPSE index increased by 78. 17 points today, which will bring the end of the week in the plus and provide further stimulus to the spirits of investors. The benchmark index ended the day at 2,187. 45 points, its highest level in more than six months due to traders’ optimism in positive economic data and government policies. The trading activity was also good with more than 15 million shares traded with a value of over 6 billion Nepali rupees. Banking stocks were on recovery trail as most of the major banks touched their upper circuits. Experts have pointed out the…
The secretariat of one of Nepal’s main opposition parties, the Communist Party of Nepal (Unified Marxist-Leninist), or UML, held an emergency meeting today due to deepening factional divisions within the party. The meeting held behind the doors at the party’s central office in Kathmandu continued for over six hours as the leaders struggled over factional problems and policies. Party Chairman KP Sharma Oli began the meeting by appealing to the members for unity and discipline stressing that no one should be eyeing their personal positions at the expense of the party’s best interest. However, insiders attending the meeting witnessed furious…
The government of Nepal has rewarded Paralympic gold medalist Palesha Goverdhan with 6 pounds. It’s equally important for the people and government of Nepal she has been awarded one hundred and five million Nepali rupees that is approximately five million five hundred thousand United States dollars for her historic victory at the 2024 Paralympics to be held in Paris France. Parwar’s Goverdhan made a history in Nepali sports by winning the first Paralympic gold medal for Nepal in the women’s shot put F42 event. PM Pushpa Kamal Dahal “Prachanda” himself congratulated Goverdhan at the programme organized at the official residence…
Continued monsoon rains have led to multiple landslides in western Nepal and has affected transport on several of the country’s major arteries. The Sudurpaschim Province has been greatly affected with portions of the East-West Highway and Mahakali Highway being covered with debris flows and mudslides. Local authorities say that a huge landslide has occurred at Attariya and the East-West Highway has been blocked, hundreds of vehicles and passengers are trapped. Fire fighters and other rescue team are on the scene attempting to clear the road but according to the authorities it may take up to 3 days before the road…
Nepal is set to become the global hub of the discussion on social welfare because of the international conference on resilient and inclusive social protection. The conference that has taken place in Kathmandu has assembled participants including scholars, practitioners, and policy makers to look for ways of improving social protection floor and building human capital among the needy groups. The conference is especially timely for Nepal at this time when the country is trying to strengthen its social policies and where issues of poverty and inequality remain a constant concern. This has been evident in the discussions held during the…
The Nepali politics is experiencing a paradigm shift as PM K. P. Sharma Oli responds to the emerging competition in the world powers and its implications to Nepali international relations. While highlighting this complex geopolitical reality, Oli has stressed the importance of maintaining a balanced approach to engage with this reality and build strategic partnership while at the same time safeguarding national interests. The Prime Minister’s comments are timely given the fact that Nepal has become the theatre of conflicting interests of regional and world powers. Nepal is a small landlocked country located between two big neighbors, India and China,…
Nepal’s Supreme Court has become the last line of defense for conservationists, who are struggling to save the country’s diverse flora and fauna as well as its natural heritage. This development comes at a time when most civil society organizations have kept quiet on critical conservation issues that might have lasting impacts on the country’s protected areas and endangered species. The court which has always been on the forefront in supporting environmental and biodiversity issues is now in the spotlight. It is hearing a case that may decide the future of protected areas of Nepal, which is a habitat of…