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Bilateral Trade Treaty Review Meet Aims to Regain Nepal's Lost Glory

Nepal and India have began negotiating a possible bilateral trade treaty aimed at expanding Nepal's influence in India's rapidly growing market.

Nepal and India have began negotiating a possible bilateral trade treaty aimed at expanding Nepal's influence in India's rapidly growing market. While both countries haven't reached a complete agreement, India has agreed to provide Nepal with technical aid for its food laboratories. The technology will hopefully improve Nepal's export quality and boost its exports to India. Moreover, both countries agreed to collaborate on issues such as unauthorized trade.

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Nepal Drowning in Garbage After Strikes

Nepal's capital, Kathmandu, is a stinky place as garbage trucks have stopped running over the last three weeks.

Nepal's capital, Kathmandu, is a stinky place as garbage trucks have stopped running over the last three weeks. Workers and supporters of the Unified Marxist-Leninist (UML) and the Nepali Congress (NP) have blocked garbage trucks on their way to local dumping sites, which has left Kathmandu inundated in trash. Sanitation, more specifically the dumping of garbage has become an issue brushed under the rug in Nepal over the last 5 decades. There has never been any real policy concerning dumping sites and locations and essentially the Kathmandu garbage authorities have taken trash to local dumps, dumped and continued until protests and blockades arose. Villagers, mostly affected by dumps near their villages, have not been compensated and have for years complained about the awful system. It seems this time this method, or lack thereof has gone too far and broken the straw of the proverbial camel, leading to blockades which have in turn left Kathmandu smelling awful and under mountains of trash.

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Nepal Exports Surge by 27.1 Percent

Exports increased by 27.1 percent in the first three months of the current fiscal year.

Exports increased by 27.1 percent in the first three months of the current fiscal year. The increase in exports to India constituted most of the upsurge as exports increased from .6 percent to 10.1 percent.

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Nepal's PM Prachanda on Second Trip to India

Prachanda, the Nepalese Prime Minister, will be traveling to India in order to negotiate better bilateral ties and seek cooperation on issues such as terrorism, drug trafficking and trans-border organized crime.

Prachanda, the Nepalese Prime Minister, will be traveling to India in order to negotiate better bilateral ties and seek cooperation on issues such as terrorism, drug trafficking and trans-border organized crime. Prachanda will also take part on the second BIMSTEC( Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit taking place in New Dheli on Nov. 13. Prachanda aims to establish better ties with BIMSTEC's members on issues such as energy, climate, and other bilateral interests.

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Food Shortages Could Topple New Nepal Government: WFP

Food shortages in Nepal could cause riots in the near future.

The World Food Program says Nepal's yet-to-formed government could be toppled by food riots unless urgent action is taken to address food shortages.

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Hundreds of Tibetan exiles arrested in Nepal

Up to 900 protesters were detained in the largest single-day arrest of Tibetan protesters in Nepal since the demonstrations began in March.

Up to 900 protesters were detained in the largest single-day arrest of Tibetan protesters in Nepal since the demonstrations began in March. "They have been arrested for damaging the diplomatic relations between Nepal and China," said civilian security officer Jaya Mukunda Khanal.

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Fuel price rise sparks Nepal protests

The ripple effect of soaring oil costs swept over south Asia on Tuesday, with Nepal's government becoming the latest to brave protest with a big increase in state-set fuel prices.

The ripple effect of soaring oil costs swept over south Asia on Tuesday, with Nepal's government becoming the latest to brave protest with a big increase in state-set fuel prices. Pakistan is expected to signal "the need to adjust domestic prices with international prices" when the government releases its budget on Wednesday, according to a senior official. An increase of more than 10 per cent is under consideration. "The price increase would be delivered without prior warning," the official said.

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FNCCI for fuel price hike

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today asked the government to hike fuel prices if the move ensures smoothly supply of fuel.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today asked the government to hike fuel prices if the move ensures smoothly supply of fuel. FNCCI president Kush Kumar Joshi today met Shyam Sundar Gupta, Minister for Industry, Commerce and Supplies, at the latter's office and apprised him of problems facing the business sector due to the shortage of petroleum products. The delegation also presented a seven-point suggestion to the minister to ensure smooth supply of petroleum products. The suggestions include hike in the prices of petroleum products.

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Find New Avenues to Lessen Trade Deficit

New methods are needed for Nepal and India to bring down their huge trade deficits.

New methods are needed for Nepal and India to bring down their huge trade deficits. Kush Kumar Joshi, president of the Federation of Nepalese Chamber of Commerce and Industry, emphasized that Nepal isn't able to take advantage of India's rising economic strength right now.

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Youths Hopeful of Economic Growth after CA Polls

A vote to improve Nepal's peace process just took place, and voters are hopeful that this will spur economic growth in the country.

A vote to improve Nepal's peace process just took place, and voters are hopeful that this will spur economic growth in the country. The years of war in Nepal have done horrible things for the economy, and to improve it, the country needs to be in a state of peace. The vote called for political adjustments, such as abolishing the monarchy and writing a new constitution, which will improve the state of Nepal.

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Securities Board Stopped the Employment Promotion

There have been some forms that are supposed to be fraudulent so the process has been interrupted until its investigation finishes.

There have been some forms that are supposed to be fraudulent so the process has been interrupted until its investigation finishes. These incidents show the need of new Initial Public Offerings regulation.

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USD 190.59 million UN Grant to Government

UN is providing grant assistance of USD 190.59 million to support the Three-Year Interim Plan.

UN is providing grant assistance of USD 190.59 million to support the Three-Year Interim Plan. The plan is proposed to promote democratic electoral processes, government aid programs, basic services to Nepali citizens, access to justice systems and rule of law, greater employment opportunities, and increased environmental awareness.

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EBL Registers 29 percent Growth in Operating Profit

Everest Bank Ltd (EBL) grew 29 percent in the first six months of the fiscal year.

Everest Bank Ltd (EBL) grew 29 percent in the first six months of the fiscal year. Profits and credit increased to NPR 337 million and NPR 16,969 million respectively.

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ADB Helps to Empower Remote Nepal with IT

The Asian development bank is going to provide a USD 25 million grant to bring the Internet and other technology services to remote areas in Nepal.

The Asian development bank is going to provide a USD 25 million grant to bring the Internet and other technology services to remote areas in Nepal. The project is going to service 38 districts with wireless broadband.

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NMBFL to Upgrade to Commercial Bank

Nepal Merchant Banking and Finance Ltd is currently being upgraded to the "A' category.

Nepal Merchant Banking and Finance Ltd is currently being upgraded to the "A' category. By the end of March this year, NMBFL intends to complete all the necessary arrangements to become a commercial bank, which includes a paid-up capital of at least NR one billion.

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Capital Market Grows, Needs Effective Watch

The Securities Board of Nepal has confirmed more than NR 2.48 billion worth of shares for 17 companies during the first five months of the current fiscal year.

The Securities Board of Nepal has confirmed more than NR 2.48 billion worth of shares for 17 companies during the first five months of the current fiscal year. During the previous fiscal year, SEBON approved NR 2.75 billion worth of shares for 31 companies. Dr. Chiranjivi Nepal, chairman of SEBON, said even though that the stock market is growing there is still inside trading and a general lack of market transparency.

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ADB Grants $100 Million to Help Reduce Poverty

To help reduce poverty and sustain economic growth in Nepal, the Asian Development Bank (ADB) is extending USD 100 million in grants.

To help reduce poverty and sustain economic growth in Nepal, the Asian Development Bank (ADB) is extending USD 100 million in grants. The package is intended to help the more remote areas of Nepal to spur economic growth and to improve governmental policy environment. The OPEC fund for International Development will also loan USD 10 million to the Rural Reconstruction and Rehabilitation Sector Development Program.

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Labor Pact with South Korea Comes into Force

The Nepali government signed an agreement with South Korea today outlining a plan to allow Nepali workers to work in South Korea.

The Nepali government signed an agreement with South Korea today outlining a plan to allow Nepali workers to work in South Korea. A quota of about 5,000 jobs has been allocated to Nepali workers through this agreement. Trainees interested in going to South Korea must take 150 hours of language training and pass the Korean Language Test, in addition to a successful medical exam.

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Garment Exports to US Plummet

The garment industry, the single largest export market to the US, suffered a huge loss in November, experiencing a 63 percent decline in terms of value.

The garment industry, the single largest export market to the US, suffered a huge loss in November, experiencing a 63 percent decline in terms of value. The market is suffering because under the Agreement on Textiles and Clothing (ATC) quotas were phased out by 2005 and Nepal prepared itself to deal with the world market. Another possible reason for the decline is that the US gets more than 80 percent of total Nepali garment exports and that maybe hurting the industry as the US is looking to diversify.

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Consumer Protection Act Draft Lamented

The Nepal Government prepared a draft that ensures consumers' rights and market regulation.

The Nepal Government prepared a draft that ensures consumers' rights and market regulation. However, consumer rights advocates claimed that the new act has made no significant changes in terms of consumer's interests. The draft proposes to establish a Consumer Protection Commission, a separate consumer court to deal with related issues, an increase in penalties on illegal activity.

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LPG Shortage to Get More Acute in Coming Months

Nepali LPG customers will feel the shortage as demand during the winter months is projected to rise 25 percent in the coming months, according to the President of the Central Gas Dealers' Association of Nepal.

Nepali LPG customers will feel the shortage as demand during the winter months is projected to rise 25 percent in the coming months, according to the President of the Central Gas Dealers' Association of Nepal. The Nepal Oil Corporation has only been importing 20 percent of the demand for LPG. In addition to the problems on the demand side, LPG supply between the bottling companies, distributors and dealers have led to other problems including price discrimination and supply contract rights.

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Remote Nepalese Districts Receive Salt Subsidies

22 remote districts in Nepal receive salt subsidized by Salt Trading Corporation Limited and the Nepalese Government. Salt Trading Corporation Limited offers the salt to people in the districts concerned for NRs 8 and the Government bears the cost for transportation.

22 remote districts in Nepal receive salt subsidized by Salt Trading Corporation Limited and the Nepalese Government. Salt Trading Corporation Limited offers the salt to people in the districts concerned for NRs 8 and the Government bears the cost for transportation. All together, the Salt Trading Corporation Limited has planned to deliver 26,500 units of the subsidized salt during this year.

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SilkAir Connects Singapore and Nepal

In order to provide opportunities for leisure traffic out of Singapore and better connections for travelers from Australia, New Zealand, Japan and Europe, SilkAir has started service between Singapore and Kathmandu.

In order to provide opportunities for leisure traffic out of Singapore and better connections for travelers from Australia, New Zealand, Japan and Europe, SilkAir has started service between Singapore and Kathmandu. SilkAir, a regional wing of Singapore Airlines, is the sixth air carrier to have established a flight connection to Nepal within the last year.

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Nepal, China Discuss Expansion of Economic Ties

The Nepalese Ambassador to China Tanka Karki, the Nepalese Consul General to the Tibet Autonomous Region of China, N.P. Upadhyaya and representatives of the Nepal-China Chamber of Commerce and Industry have met for discussions on the expansion of economic and trade relations between the two countries.

The Nepalese Ambassador to China Tanka Karki, the Nepalese Consul General to the Tibet Autonomous Region of China, N.P. Upadhyaya and representatives of the Nepal-China Chamber of Commerce and Industry have met for discussions on the expansion of economic and trade relations between the two countries. Particular topics that were touched included increasing Nepalese exports to China, expansion of the Tibet Railway and the resolution visa issues Nepalese industrialists and businessmen are facing while traveling to Tibet and Hong Kong for business purposes.

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Nepal Oil Corporation Cuts off Petroleum for Four Days

Although most of the gas stations in Kathmandu are running out of gas, the Nepal Oil Corporation (NOC), the country's only supplier of petroleum and diesel, has stopped the supply of petroleum due to Dashain holidays.

Although most of the gas stations in Kathmandu are running out of gas, the Nepal Oil Corporation (NOC), the country's only supplier of petroleum and diesel, has stopped the distribution due to Dashain holidays. The break is announced to last from Friday, October 19 to Tuesday, October 23. For the time after the break, the NOC states to have imported sufficient supply from India.

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Nepal Receives USD 400,000 from ADB to Fight Corruption

The Asian Development Bank has pledged USD 400,000 to Nepal to support the country in their fight against corruption. The government project, which has an estimated overall budget of 475,000 focuses on stronger action against corruption in the public sector and greater accountability and transparency in government operations to spur economic growth and reduce poverty.

The Asian Development Bank has pledged USD 400,000 to Nepal to support the country in their fight against corruption. The government project, which has an estimated overall budget of 475,000 focuses on stronger action against corruption in the public sector and greater accountability and transparency in government operations to spur economic growth and reduce poverty.

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Nepal's Tourist Numbers Grow 27 Percent

In comparison to last year's September, the number of tourists arriving by airplanes has increased by 27 percent.

In comparison to last year's September, the number of tourists arriving by airplanes has increased by 27 percent. Especially European and North American Markets contribute to that growth figure. Further, Chinese and Korean markets flourish after the operation of direct flights has started.

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Power Summit In Nepal To Focus On Hydropower Projects

A two-day Power Summit begins today in Kathmandu. The goal of the summit is to encourage foreign investment in hydropower projects. Over 200 people from around the world are attending the summit, including regional and foreign multinational companies.

A two-day Power Summit begins today in Kathmandu. The goal of the summit is to encourage foreign investment in hydropower projects. Over 200 people from around the world are attending the summit, including regional and foreign multinational companies. The summit is jointly organized by the Indian government's energy broker company Power Trading Corporations (PTC), a representative of Nepalese banks, Nepal Bankers Association, and Independent Power Produces Association, Nepal.

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Nepal Fuel Supply Problems Continue

Import of petroleum supplies to the Kathmandu valley continued to be interrupted by an ongoing strike by petroleum tanker drivers. At this point the strike seems indefinite.

Import of petroleum supplies to the Kathmandu valley continued to be interrupted by an ongoing strike by petroleum tanker drivers. At this point the strike seems indefinite. The strike has aggravated a fuel supply crisis. Long lines of cars and motorcycles continue to bee seen at most public gas stations. The Nepal Oil Corporation (NOC) has reduced its supply by 45% to 50%, because of its failure to clear an outstanding bill with its sole supplier, Indian Oil Corporation (IOC) -- the bill currently stands at Rs 3.2 billion.

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Herbal Plants Could Boost Nepal's Economy

Nepal's 7,000 herbal plants, of which only ten percent are identified yet, might contribute tremendously to economic growth. Products of processed herbal plants,

Nepal's 7,000 herbal plants, of which only ten percent are identified yet, might contribute tremendously to economic growth. Products of processed herbal plants, such as oils, are in particular demanded in Europe and Asia for medical and cosmetics production. However, officials of the state-owned Herbs Production and Processing Co. Ltd. have expressed discontent about "indifference" on the part of the government as main reason that the potential has not been tapped so far.

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Nepal Parliament Passes Annual Budget

The Nepalese Interim Legislature-Parliament has passed the annual budget for the next fiscal year after a process marked by disturbances. The budget has been passed by the majority of the present members of the parliament, despite Maoist members of parliament boycotting the vote in a walk-out, legislators of CPN-M, United Left Front and Left Front abstained from voting, all the while Nepal Majdoor Kissan Party MPs voted against the budget.

The Nepalese Interim Legislature-Parliament has passed the annual budget for the next fiscal year after a process marked by disturbances. The budget has been passed by the majority of the present members of the parliament, despite Maoist members of parliament boycotting the vote in a walk-out, legislators of CPN-M, United Left Front and Left Front abstained from voting, all the while Nepal Majdoor Kissan Party MPs voted against the budget.

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Wealth Gap Widens Throughout Asia

According to the Key Indicators 2007 report of the Asian Development Bank (ADB) relative inequality between the rich and the poor, referred to as the "wealth gap", has increased in many Asian countries. First and foremost Nepal and China, but as well India, Cambodia and Sri Lanka were not able to antagonize the inequality. As main reasons for the development, the report states the discrepancy in investment between urban and rural areas as well as government policies which deterred private investment, especially in the hinterlands.

According to the Key Indicators 2007 report of the Asian Development Bank (ADB) relative inequality between the rich and the poor, referred to as the "wealth gap", has increased in many Asian countries. First and foremost Nepal and China, but as well India, Cambodia and Sri Lanka were not able to antagonize the inequality. As main reasons for the development, the report states the discrepancy in investment between urban and rural areas as well as government policies which deterred private investment, especially in the hinterlands.

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Nepal Stock Exchange Makes History

The Nepal Stock Exchange (NEPSE) Index crossed another historical threshold in its 13 year-long existence after crossing the 700 mark for the first time on Sunday, August 5th, 2007. Market Analysts attributed this raise to a continuous increase in share prices of commercial banks, such as Standard Chartered, Nabil and Himalayan Banks. The NEPSE closed at 707.73 points, a growth of 9.50 points from last week's closing, led with gains by shares of commercial banks and hydropower companies.

The Nepal Stock Exchange (NEPSE) Index crossed another historical threshold in its 13 year-long existence after crossing the 700 mark for the first time on Sunday, August 5th, 2007. Market Analysts attributed this raise to a continuous increase in share prices of commercial banks, such as Standard Chartered, Nabil and Himalayan Banks. The NEPSE closed at 707.73 points, a growth of 9.50 points from last week's closing, led with gains by shares of commercial banks and hydropower companies.

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"Flexicurity" is Encouraged in Nepal

Many experts in Nepal said that "Flexicurity", a term that represents a joint policy of labor flexibility and security, is encouraged to address the ever-growing dispute between employers and staff, and maintain good industrial relations. The Chairman of Employer's Council of Federation of Nepalese Chamber of Commerce said that with the transformation caused by liberalization of the global market and ever-growing information technology, laborers should be more productive and more responsible with the interdependency between the management and workers.

Many experts in Nepal said that "Flexicurity", a term that represents a joint policy of labor flexibility and security, is encouraged to address the ever-growing dispute between employers and staff, and maintain good industrial relations. The Chairman of Employer's Council of Federation of Nepalese Chamber of Commerce said that with the transformation caused by liberalization of the global market and ever-growing information technology, laborers should be more productive and more responsible with the interdependency between the management and workers.

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Nepal: Overseas Employment Rises 21 Percent

Last year, the number of Nepali workers leaving for jobs overseas increased by almost 21 percent. A total of 177,066 Nepali workers have gone overseas for foreign employment last year; of these, 71,074 workers flew to Malaysia, the most popular destination for foreign employment in the past five years. Some Nepali overseas workers have also made their way to Singapore, Macau, Hong Kong, Israel and United States.

Last year, the number of Nepali workers leaving for jobs overseas increased by almost 21 percent. A total of 177,066 Nepali workers have gone overseas for foreign employment last year; of these, 71,074 workers flew to Malaysia, the most popular destination for foreign employment in the past five years. Some Nepali overseas workers have also made their way to Singapore, Macau, Hong Kong, Israel and United States.

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Nepal: The World Bank's Warnings Based on Poor Assessment

The Finance Minister of Nepal said that the World Bank warning, regarding the inquiry for the Nepal Central Bank to restore the management of NBL (Nepal Bank Limited) and to create a conducive environment for NBL to operate, is based on poor assessment by the World Bank' part. The Nepal Central Bank (NRB) has been working on settling the differences between the management team of NBL and the unions.

The Finance Minister of Nepal said that the World Bank warning, regarding the inquiry for the Nepal Central Bank to restore the management of NBL (Nepal Bank Limited) and to create a conducive environment for NBL to operate, is based on poor assessment by the World Bank' part. The Nepal Central Bank (NRB) has been working on settling the differences between the management team of NBL and the unions.

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World Bank Threatens Nepalese Central Bank

The World Bank (WB) has threatened to pull out of financial sector reform in Nepal unless the Nepal Rastra Bank (NRB) takes the necessary actions as promised. These actions include: ensuring effective control, restoring the expert management team, and creating conducive environment for the operation of NBL (Nepal Bank Limited). The WB would suspend grants and loans amounting to NPR 10 billion, and other budgetary support programs.

The World Bank (WB) has threatened to pull out of financial sector reform in Nepal unless the Nepal Rastra Bank (NRB) takes the necessary actions as promised. These actions include: ensuring effective control, restoring the expert management team, and creating conducive environment for the operation of NBL (Nepal Bank Limited). The WB would suspend grants and loans amounting to NPR 10 billion, and other budgetary support programs.

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Bullish Trends Ends at Nepal Stock Exchange

The Nepalese Central Bank has repeatedly warned that the bullish trends in the Nepal Stock Exchange for the past few months were caused by an "unjustified rise". This unjustified rise may have developed because of manipulation of share prices of commercial banks, and rumor driven trends. The groupwise share trading analysis shows that commercial banks lost while hotel, hydropower, and insurance groups reported strong growth.

The Nepalese Central Bank has repeatedly warned that the bullish trends in the Nepal Stock Exchange for the past few months were caused by an "unjustified rise". This unjustified rise may have developed because of manipulation of share prices of commercial banks, and rumor driven trends. The groupwise share trading analysis shows that commercial banks lost while hotel, hydropower, and insurance groups reported strong growth.

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Korean Languange Requirements for Nepali Workers in Korea

The Ministry of Labor in Nepal has passed a bill stating that proficiency in the Korean Language is required for those Nepalis who plan to work in South Korea. The workers can not obtain any working visa before passing a Korean Language Proficiency Test. Further, Nepali job seekers will be required to provide a medical certificate and police report. In the framework of the recently signed Employment Permit System (EPS), Nepal is going to send 5,000 workers per year to Korea.

The Ministry of Labor in Nepal has passed a bill stating that proficiency in the Korean Language is required for those Nepalis who plan to work in South Korea. The workers can not obtain any working visa before passing a Korean Language Proficiency Test. Further, Nepali job seekers will be required to provide a medical certificate and police report. In the framework of the recently signed Employment Permit System (EPS), Nepal is going to send 5,000 workers per year to Korea.

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Stock Trading Up 142 Percent in Nepal

The volume of Nepalese stock market transactions increased by 142 percent, compared to last year, due to the restoration of peace and subsequent boost of investors' confidence. Nepal Stock Exchange (NEPSE) responded to this good news by welcoming more share brokers in the stock market.

The volume of Nepalese stock market transactions increased by 142 percent, compared to last year, due to the restoration of peace and subsequent boost of investors' confidence. Nepal Stock Exchange (NEPSE) responded to this good news by welcoming more share brokers in the stock market.

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Nepal Central Bank Needs to Implement the Monetary Policy

The Federation of Nepalese Chamber of Commerce and Supply (FNCCI) has welcomed the monetary policy for the fiscal year 2007/08, which was formally unveiled by the central bank Nepal Rastra Bank (NRB). However, the federation urges for a full implementation in the monetary policy. Furthermore, analysts note that the central bank needs to address the issue of continued appreciation of Nepali currency against US dollar.

The Federation of Nepalese Chamber of Commerce and Supply (FNCCI) has welcomed the monetary policy for the fiscal year 2007/08, which was formally unveiled by the central bank Nepal Rastra Bank (NRB). However, the federation urges for a full implementation in the monetary policy. Furthermore, analysts note that the central bank needs to address the issue of continued appreciation of Nepali currency against US dollar.

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Home Minister Grants Relief Package for the Flood's Victim in Nepal

The Nepali government grants relief package to the victims of the flood in Nepal, as follows: NPR 15,000 as compensation to relatvies of those killed in the natural disaster, NPR 10,000 for those whose houses have been severely damaged, NPR 5,000 for those whose houses have been partially damaged. Nepali government faces an all time depression at this time as the countries continue to experience rebellion and also emploees' strike nationwide.

The Nepali government grants relief package to the victims of the flood in Nepal, as follows: NPR 15,000 as compensation to relatvies of those killed in the natural disaster, NPR 10,000 for those whose houses have been severely damaged, NPR 5,000 for those whose houses have been partially damaged. Nepali government faces an all time depression at this time as the countries continue to experience rebellion and also emploees' strike nationwide.

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Strike Causes Cancellation of All Domestic Flights in Nepal

Another employee strike in Nepal forced the NAC (Nepal Airlines Cooperation) to cancel all its domestic flights. This in turn leaves hundreds of passengers stranded as the NAC is unable to operate international flights as well. The NAC workers demand reformation of the airline's management and more aircraft.

Another employee strike in Nepal forced the NAC (Nepal Airlines Cooperation) to cancel all its domestic flights. This in turn leaves hundreds of passengers stranded as the NAC is unable to operate international flights as well. The NAC workers demand reformation of the airline's management and more aircraft.

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NCC Snubs Inflation Target in Nepal

The Nepal Chamber of Commerce (NCC) has concluded the 5.5 percent inflation target set by the recently announced monetary policy for the fiscal year 2007/08 is unrealistic. Due to trade deficit and dwindling exports, the country is unlikely to achieve the targeted inflation rate. The chamber has welcomed the decision to revise the single borrowing investment limit for the hydro-power sector and promote the development of micro-finance in rural areas.

The Nepal Chamber of Commerce (NCC) has concluded the 5.5 percent inflation target set by the recently announced monetary policy for the fiscal year 2007/08 is unrealistic. Due to trade deficit and dwindling exports, the country is unlikely to achieve the targeted inflation rate. The chamber has welcomed the decision to revise the single borrowing investment limit for the hydro-power sector and promote the development of micro-finance in rural areas.

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Nepal Establishes New Commercial Agriculture Policy

The Ministry of Agriculture and Co-operatives (MoAC) has just established a new policy governing commercial agriculture in Nepal. Dr. Hari Dahal, a spokesperson at MoAC, said that the country needs to set commercialization of agriculture as its top priority while formulating the current fiscal year's policy. He will continue to enforce the One Village One Product (OVOP) program, which has been very effective and profitable for the country, for the commercialization of fruits and fish varieties.

The Ministry of Agriculture and Co-operatives (MoAC) has just established a new policy governing commercial agriculture in Nepal. Dr. Hari Dahal, a spokesperson at MoAC, said that the country needs to set commercialization of agriculture as its top priority while formulating the current fiscal year's policy. He will continue to enforce the One Village One Product (OVOP) program, which has been very effective and profitable for the country, for the commercialization of fruits and fish varieties.

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VDC Workers in Nepal Continues to Strike

Village Development Committee secretaries decide that they will continue to strike until the Nepali government grant their demands as follows: maximum securities in their workplace on Terai Districts, life insurance worth 1 million rupees and "martyr status" to secretaries killed by the rebel groups. The country is very unstable politically, and the workers are very concerned about security in their workplace.

Village Development Committee secretaries decide that they will continue to strike until the Nepali government grant their demands as follows: maximum securities in their workplace on Terai Districts, life insurance worth 1 million rupees and "martyr status" to secretaries killed by the rebel groups. The country is very unstable politically, and the workers are very concerned about security in their workplace.

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Export Sector Problem in Nepal

Recent appreciation of domestic currency against US dollars has been responsible for the decline in Nepali exports. A Confederation of Nepalese Industry (CNI) official states that, in order to tackle this problem, the government should take several steps, such as passing a bill that allows Nepali entrepreneurs to invest in foreign lands and letting the private sector become involved in the establishment of tea processing centers. Tea exports continue to be very profitable for Nepal.

Recent appreciation of domestic currency against US dollars has been responsible for the decline in Nepali exports. A Confederation of Nepalese Industry (CNI) official states that, in order to tackle this problem, the government should take several steps, such as passing a bill that allows Nepali entrepreneurs to invest in foreign lands and letting the private sector become involved in the establishment of tea processing centers. Tea exports continue to be very profitable for Nepal.

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China Will Support Nepal in Infrastructure Development

The Chinese government has agreed to give financial support for the infrastructure development in Nepal. Prime ministers from both countries also discussed the possibility of importing Petroleum Oil Lubricant (POL) products from China as supply from India has not been regular. The Chinese government hopes that this aid will strengthen trade relations between Nepal and China.

The Chinese government has agreed to give financial support for the infrastructure development in Nepal. Prime ministers from both countries also discussed the possibility of importing Petroleum Oil Lubricant (POL) products from China as supply from India has not been regular. The Chinese government hopes that this aid will strengthen trade relations between Nepal and China.

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New Monetary Policy in Nepal

The Nepali central bank, Nepal Rastra Bank (NRB), has enacted a new monetary policy that focuses on the rural-based deprived class. The purpose of this new policy is to manage high liquidity, maintain fiscal stability, and limit the inflation rate at 5.5 percent. The central bank hopes that this new monetary policy could encourage many entrepreneurs to create more opportunities and improve the country's economy.

The Nepali central bank, Nepal Rastra Bank (NRB), has enacted a new monetary policy that focuses on the rural-based deprived class. The purpose of this new policy is to manage high liquidity, maintain fiscal stability, and limit the inflation rate at 5.5 percent. The central bank hopes that this new monetary policy could encourage many entrepreneurs to create more opportunities and improve the country's economy.

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China Grants Line of Credit to Nepal

The Chinese government has offered NPR 8 billion line of credit to Nepal in order to increase economic growth and create more business opportunities in Nepal. China hopes that this loan will foster trade and strengthen bilateral relations between Nepal and China.

The Chinese government has offered NPR 8 billion line of credit to Nepal in order to increase economic growth and create more business opportunities in Nepal. China hopes that this loan will foster trade and strengthen bilateral relations between Nepal and China.

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Emloyment Agreement Penned between Nepal and South Korea

A new Labor Pact that has been recently signed by both the Nepal and South Korea Labor Ministers will open new opportunities for the Nepalis to work abroad in South Korea. This labor agreement may solidify bilateral relations between the two countries, while it may also reduce the unemployment rate in Nepal.

A new Labor Pact that has been recently signed by both the Nepal and South Korea Labor Ministers will open new opportunities for the Nepalis to work abroad in South Korea. This labor agreement may solidify bilateral relations between the two countries, while it may also reduce the unemployment rate in Nepal.

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Nepal's Trade Deficit Widens Beyond Rs 104.11 Billion

Nepal's trade deficit continues to rise and has surpassed Rs 104.11 billion in the first 10 months of the current 2006-07 fiscal year. The widening trade deficit is due to the increase in imports relative to exports. "The rise in imports...was attributed to a rise in imports of vehicles and spare parts, petroleum products, cold-rolled sheet in coil and electrical equipment" while "deteriorating security condition, frequent bandhs, lack of investment-friendly climate and power shortages" were noted to account for export decline.

Nepal's trade deficit continues to rise and has surpassed Rs 104.11 billion in the first 10 months of the current 2006-07 fiscal year. The widening trade deficit is due to the increase in imports relative to exports. "The rise in imports...was attributed to a rise in imports of vehicles and spare parts, petroleum products, cold-rolled sheet in coil and electrical equipment" while "deteriorating security condition, frequent bandhs, lack of investment-friendly climate and power shortages" were noted to account for export decline.

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nepal

Indian Construction Companies Join Bidders in Nepal Airport Project

Two Indian construction companies, IRCON International Limited and an Indo-Nepal joint of Valecha Engineering Limited and YP Construction, have joined the auction to take on the responsibility to improve the Tribhuvan International Airport in Kathmandu, Nepal. They are among the six companies to have qualified to work on the runway and taxiway overlay, which were last overlaid in 1996 by a Chinese company, Sietco.

Two Indian construction companies, IRCON International Limited and an Indo-Nepal joint of Valecha Engineering Limited and YP Construction, have joined the auction to take on the responsibility to improve the Tribhuvan International Airport in Kathmandu, Nepal. They are among the six companies to have qualified to work on the runway and taxiway overlay, which were last overlaid in 1996 by a Chinese company, Sietco.

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nepal

Nepal and UAE Sign Labor Agreement

Nepali Minister of State for Labor and Transport Management Ramesh Lekhak and United Arab Emirates (UAE) Labor Minister Dr Ali Bin Abdullah Al-Kaabi signed the Labor Agreement that provides legal status to Nepali workers in UAE. The pact is predicted to raise the minimum wage for the 150,000 Nepali workers in UAE.

Nepali Minister of State for Labor and Transport Management Ramesh Lekhak and United Arab Emirates (UAE) Labor Minister Dr Ali Bin Abdullah Al-Kaabi signed the Labor Agreement that provides legal status to Nepali workers in UAE. The pact is predicted to raise the minimum wage for the 150,000 Nepali workers in UAE.

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nepal

Nepal's Fuel Stock Level at its Lowest

Kathmandu valley faced the lowest level of fuel stock in history with just 300 kiloliters of oil available. Automobiles have been abandoned on the streets as petroleum stations hung signs displaying "No diesel." Taxi drivers parked their vehicles in front of government housing to protest the shortage.

Kathmandu valley faced the lowest level of fuel stock in history with just 300 kiloliters of oil available. Automobiles have been abandoned on the streets as petroleum stations hung signs displaying "No diesel." Taxi drivers parked their vehicles in front of government housing to protest the shortage.

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nepal

India to Triple Economic Assistance to Nepal

On Monday this week, Indian Ambassador to Nepal Shiva Shanker Mukherjee announced that India would triple the existing Indian economic assistance to Nepal. Ambassador Mukherjee stated this increase in assistance had begun since last June's meeting between the two countries Prime Ministers.

On Monday this week, Indian Ambassador to Nepal Shiva Shanker Mukherjee announced that India would triple the existing Indian economic assistance to Nepal. Ambassador Mukherjee stated this increase in assistance had begun since last June's meeting between the two countries Prime Ministers.

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nepal

Nepal's Wheat Production Increases by 8.68%

Due to favorable weather conditions and increasing wheat farming from extra land, Nepal's wheat production presents a strong growth rate increase of 8.68 percent and reached 1.5 million metric tons during this season. However, during this fiscal year, total cereal crops production have declined 4.28 percent to 7.3 million metric tons because of a serious reduction in paddy production.

Due to favorable weather conditions and increasing wheat farming from extra land, Nepal's wheat production presents a strong growth rate increase of 8.68 percent and reached 1.5 million metric tons during this season. However, during this fiscal year, total cereal crops production have declined 4.28 percent to 7.3 million metric tons because of a serious reduction in paddy production.

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nepal

World Bank Threatens to End Nepal's Development Assistance

Following the murder of a development engineer in Nepal's southeastern Siraha district, the World Bank warned the Nepalese government that if it does not take measures to ensure the safety of development workers, development aid will be ended. Former Maoists kidnapped and murdered the engineer as he worked on Nepal's Rural Access Improvement and Decentralization Project, which is funded directly by the World Bank.

Following the murder of a development engineer in Nepal's southeastern Siraha district, the World Bank warned the Nepalese government that if it does not take measures to ensure the safety of development workers, development aid will be ended. Former Maoists kidnapped and murdered the engineer as he worked on Nepal's Rural Access Improvement and Decentralization Project, which is funded directly by the World Bank.

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nepal

ACU Considers Multi-Currency Adoption, Names New Members

Meeting at the 36th board meeting of the Asian Clearing Union (ACU), the directors of the union's member banks created a technical committee to look into the possibility of introducing multi-currency settlements. Currently, ACU countries are required to settle external trade payments exclusively with US dollars. In addition, the ACU welcomed Afghanistan and the Maldives to its ranks, and have extended membership invitations to a number of Central Asian and CIS nations.

Meeting at the 36th board meeting of the Asian Clearing Union (ACU), the directors of the union's member banks created a technical committee to look into the possibility of introducing multi-currency settlements. Currently, ACU countries are required to settle external trade payments exclusively with US dollars. In addition, the ACU welcomed Afghanistan and the Maldives to its ranks, and have extended membership invitations to a number of Central Asian and CIS nations.

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nepal

Nepal's Decline in Carpet Exports

Nepal faces difficulties within the carpet industry, as exports for hand-knotted woolen carpet drops by 3.05 percent compared to last year. Additionally, total earnings declined from US$57.85m last year to US$56.09m this year. Knowledgeable carpet traders hope that the delivery of backlogged products will push up export quotas.

Nepal faces difficulties within the carpet industry, as exports for hand-knotted woolen carpet drops by 3.05 percent compared to last year. Additionally, total earnings declined from US$57.85m last year to US$56.09m this year. Knowledgeable carpet traders hope that the delivery of backlogged products will push up export quotas.

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Other Important News In Nepal


Nepal Drowning in Garbage After Strikes

Nepal's capital, Kathmandu, is a stinky place as garbage trucks have stopped running over the last three weeks.

Nepal's capital, Kathmandu, is a stinky place as garbage trucks have stopped running over the last three weeks. Workers and supporters of the Unified Marxist-Leninist (UML) and the Nepali Congress (NP) have blocked garbage trucks on their way to local dumping sites, which has left Kathmandu inundated in trash. Sanitation, more specifically the dumping of garbage has become an issue brushed under the rug in Nepal over the last 5 decades. There has never been any real policy concerning dumping sites and locations and essentially the Kathmandu garbage authorities have taken trash to local dumps, dumped and continued until protests and blockades arose. Villagers, mostly affected by dumps near their villages, have not been compensated and have for years complained about the awful system. It seems this time this method, or lack thereof has gone too far and broken the straw of the proverbial camel, leading to blockades which have in turn left Kathmandu smelling awful and under mountains of trash.

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Nepal Exports Surge by 27.1 Percent

Exports increased by 27.1 percent in the first three months of the current fiscal year.

Exports increased by 27.1 percent in the first three months of the current fiscal year. The increase in exports to India constituted most of the upsurge as exports increased from .6 percent to 10.1 percent.

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Nepal's PM Prachanda on Second Trip to India

Prachanda, the Nepalese Prime Minister, will be traveling to India in order to negotiate better bilateral ties and seek cooperation on issues such as terrorism, drug trafficking and trans-border organized crime.

Prachanda, the Nepalese Prime Minister, will be traveling to India in order to negotiate better bilateral ties and seek cooperation on issues such as terrorism, drug trafficking and trans-border organized crime. Prachanda will also take part on the second BIMSTEC( Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit taking place in New Dheli on Nov. 13. Prachanda aims to establish better ties with BIMSTEC's members on issues such as energy, climate, and other bilateral interests.

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Food Shortages Could Topple New Nepal Government: WFP

Food shortages in Nepal could cause riots in the near future.

The World Food Program says Nepal's yet-to-formed government could be toppled by food riots unless urgent action is taken to address food shortages.

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Hundreds of Tibetan exiles arrested in Nepal

Up to 900 protesters were detained in the largest single-day arrest of Tibetan protesters in Nepal since the demonstrations began in March.

Up to 900 protesters were detained in the largest single-day arrest of Tibetan protesters in Nepal since the demonstrations began in March. "They have been arrested for damaging the diplomatic relations between Nepal and China," said civilian security officer Jaya Mukunda Khanal.

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Fuel price rise sparks Nepal protests

The ripple effect of soaring oil costs swept over south Asia on Tuesday, with Nepal’s government becoming the latest to brave protest with a big increase in state-set fuel prices.

The ripple effect of soaring oil costs swept over south Asia on Tuesday, with Nepal's government becoming the latest to brave protest with a big increase in state-set fuel prices. Pakistan is expected to signal "the need to adjust domestic prices with international prices" when the government releases its budget on Wednesday, according to a senior official. An increase of more than 10 per cent is under consideration. "The price increase would be delivered without prior warning," the official said.

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FNCCI for fuel price hike

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today asked the government to hike fuel prices if the move ensures smoothly supply of fuel.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today asked the government to hike fuel prices if the move ensures smoothly supply of fuel. FNCCI president Kush Kumar Joshi today met Shyam Sundar Gupta, Minister for Industry, Commerce and Supplies, at the latter's office and apprised him of problems facing the business sector due to the shortage of petroleum products. The delegation also presented a seven-point suggestion to the minister to ensure smooth supply of petroleum products. The suggestions include hike in the prices of petroleum products.

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Find New Avenues to Lessen Trade Deficit

New methods are needed for Nepal and India to bring down their huge trade deficits.

New methods are needed for Nepal and India to bring down their huge trade deficits. Kush Kumar Joshi, president of the Federation of Nepalese Chamber of Commerce and Industry, emphasized that Nepal isn't able to take advantage of India's rising economic strength right now.

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Youths Hopeful of Economic Growth after CA Polls

A vote to improve Nepal’s peace process just took place, and voters are hopeful that this will spur economic growth in the country.

A vote to improve Nepal's peace process just took place, and voters are hopeful that this will spur economic growth in the country. The years of war in Nepal have done horrible things for the economy, and to improve it, the country needs to be in a state of peace. The vote called for political adjustments, such as abolishing the monarchy and writing a new constitution, which will improve the state of Nepal.

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Securities Board Stopped the Employment Promotion

There have been some forms that are supposed to be fraudulent so the process has been interrupted until its investigation finishes.

There have been some forms that are supposed to be fraudulent so the process has been interrupted until its investigation finishes. These incidents show the need of new Initial Public Offerings regulation.

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