Kathmandu: The government has increased the prices of diesel, petrol and kerosene.



Board meeting of Nepal Oil Corporation (NOC) has decided to increase the price of petroleum products by Rs 10 per liter.



Now the retail price of petrol has reached Rs 170 per liter while the price of diesel and kerosene has been fixed at Rs 153 per liter.

NOC hikes fuel price soon after local election

Kathmandu: Nepal Airlines Corporation will operate commercial flights from Kathmandu to Gautam Buddha International Airport, Bhairahawa on Monday.



According to the airlines, the narrow-body aircraft will be flown on Monday to promote Gautam Buddha International Airport.



The airline has fixed two types of ticket prices for Kathmandu-Bhairahawa route at Rs 4,510 and Rs 7,040 respectively.



Tickets can be purchased from the mobile app and website of Nepal Airlines. A widebody aircraft of Nepal Airlines has flown a test flight at Gautam Buddha Airport.



Kuwait's Jazeera Airlines has been operating regular commercial flights since last Monday.

NAC's narrow-body aircraft to operate flights in Kathmandu-Bhairahawa-Kathmandu route

Kathmandu: The y-o-y consumer price inflation has stood at 7.28 percent in the ninth month of 2021/22 compared to 3.10 percent a year ago.



According to a report published by the Nepal Rashtra Bank (NRB) food and beverage inflation stood at 7.40 percent whereas non-food and service inflation stood at 7.18 percent in the review month. Average inflation remained 5.62 percent during the review period. Under the food and beverage category, the prices of ghee &amp; oil, milk products &amp; eggs, pulses &amp; legumes, and tobacco products sub-categories rose by 28.36 percent, 11.56 percent, 10.53 and 8.91 percent respectively on a y-o-y basis. Likewise, under the non-food and services category, the prices of transportation, education, and miscellaneous goods &amp; services sub-categories rose by 20.16 percent, 8.79 percent, and 8.17 percent respectively on a y-o-y basis.

Price inflation up by 7.28 pc

Kathmandu : The seventh national agricultural census has started. The first agricultural census in Nepal was conducted in 2018 BS.



Since then, the agricultural census 2078, which has been conducted every 10 years, is being conducted across the country. This is the first time that a census has been taken after federalism .



Earlier, the details related to agricultural structure, agricultural activities and agricultural production were given only at the district level, but this time, the data of all 753 rural municipalities / municipalities will be included.



The size of land used by farmers, land use and utilization, area under crops and crop production, mixing, number of livestock, use of agricultural tools, manpower involved in agriculture, land in women's name, agriculture forest, agricultural loan, insurance, grant, impact of climate change on agriculture The department has informed that data will be collected on various issues such as use of green house method , soil testing, source of animal feed, access to agricultural market , management of agricultural residues or waste and the impact of COVID 19 on the agricultural sector.



For the first time , questionnaires on climate change have been included in the agricultural census.



The question is included in the 7th National Agricultural Census to extract data on climate change.

Agricultural census includes climate change for the first time

(BBC): The value of Bitcoin continued to fall over the weekend as it dropped below $34,000 (£27,630), according to the Coinbase cryptocurrency exchange.



The world's largest cryptocurrency by market value has now fallen by 50% since its peak in November last year.



The slide in the value of digital assets comes as stock markets around the world also dropped in recent days.



On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2%.



Bitcoin accounts for about a third of the cryptocurrency market with a total value of $650bn.



Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.



Although much of 2022 had been relatively quiet for the cryptocurrency market, volatile trading in digital assets has not been that unusual in previous years.



Trading was dominated for years by individual investors, but more recently the market has seen an influx of professional investors, such as hedge funds and money managers.



With more traditional investors trading digital assets, cryptocurrencies have increasingly followed the movements of global stock markets.



Many of the institutional investors that buy cryptocurrencies treat them as risk assets, similar to technology stocks.



In times of market uncertainty traditional investors will often sell what they see as riskier assets and move their money into safer investments.



Last week, central banks around the world, including the US, UK and Australia, raised interest rates as they attempt to tackle rising prices.



The US Federal Reserve raised its key lending rate by half a percentage point, marking its biggest rate hike in more than 20 years.



That has triggered more concerns among some investors that inflation and the higher cost of borrowing could have a major impact on global economic growth.



Investors are also worried about the impact of the war in Ukraine on the world economy.



Meanwhile, in the last year Bitcoin has become legal tender in two countries - El Salvador and the Central African Republic.



Since El Salvador said it would allow consumers to use the cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.

Bitcoin value drops by 50% since November peak

(BBC): Nigeria's airlines are to stop domestic operations from Monday in protest at the spiralling cost of jet fuel.



It has risen almost fourfold this year, which was unsustainable, the Airline Operators of Nigeria (AON) said.



"No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a short period," its statement said.



The hikes have been triggered principally by Russia's invasion of Ukraine at the end of February.



AON, which represents Nigeria's nine domestic carriers, said the airlines had been having to subsidise services over the last four months.



There have been many flight cancellations and delays since March, often blamed on a shortage of jet fuel. The price of tickets has also tripled on some routes in recent weeks.



Passengers in Nigeria pay for fares in naira, the local currency that has been devaluing. However, fuel suppliers need to be paid in US dollars.



Despite being Africa's largest oil producer, Nigeria imports almost all its jet fuel.



AON said that it had told the government, MPs, the state-owned oil company and the association representing fuel sellers that something needed to be done to bring costs down.



The hikes could not be fully passed on to passengers as they were "already experiencing a lot of difficulties", it said.



The government has not yet commented on the planned strike.

Nigerian airlines to halt domestic flights over jet fuel hikes

Kathmandu: The World Bank has reallocated $23 million of the $120 million in the Youth Employment Transformation Initiative (YETI) project to scale up direct support to unemployed poor impacted by the COVID-19 pandemic.



The financing is expected to help about 64,000 unemployed individuals, especially those who lost employment during the COVID-19 pandemic, receive temporary employment through the Prime Minister Employment Program.



“We have been working closely with the Government of Nepal to support its COVID-19 emergency response and prepare for a green, resilient, and inclusive recovery," said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.



"With the reallocated funds, the project will provide temporary employment for many poor people who lost employment or could not find work during the pandemic."



This reallocation of these project funds to provide temporary employment follows global good practice where existing social protection programs are expanded to cover a larger group of beneficiaries during a crisis.



This complements the YETI project’s ongoing efforts to improve employment services and labor market outcomes, especially for youth.



These funds were made available by activating the Contingency Emergency Response Component (CERC) of the YETI project.



CERCs allow funds to be reallocated from existing projects to address emergency response needs.

World Bank to provide &23 mn for Nepal's Youth employment project

Kathmandu: The Government of Nepal and the World Bank signed a $150 million ‘Finance for Growth’ Development Policy Credit (DPC) today to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in Nepal.



The agreement was signed by the Finance Secretary, Madhu Kumar Marasini, on behalf of the Government of Nepal, and the World Bank Country Director for Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos.



The second Finance for Growth operation was approved by the World Bank Board of Executive Directors on March 24, 2022.



The operation will support enhanced supervision of the banking sector to address financial stability risks in the context of the COVID-19 pandemic’s impacts.



It will help open up capital, insurance, and disaster risk financing markets, and foster financial product innovations.



It will also support initiatives to increase liquidity and inclusion through access to external commercial borrowing, financial digitalization, and financial literacy for women.



This will help improve the functioning of the financial sector to support private sector-led growth.



The operation supports Nepal’s green, resilient, and inclusive development, and also initiates a new climate agenda, supporting climate finance resilience policy measures across different sectors.

World Bank to provide $150 Million to strengthen Nepal’s financial sector

Kathmandu: Buddha air is all set to resume flights on the Kathmandu-Banaras route.



Flights between Kathmandu and Banaras, two religious destinations closed due to the Corona epidemic, will resume on May 23.



According to the company, Buddha air has set a date to operate this route twice a week.



Buddha has announced the date for the Kathmandu-Banaras-Kathmandu route to be flown every Monday and Friday. In Banaras, Buddha air has also been selling tour packages through its sister organization Buddha Holidays.

Buddha Air to resume flight on KTM-Banaras route

Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has suggested bringing Indian notes of IRs. 200, IRs. 500 and IRs. 2000 in Nepal.



The federation has suggested to the government that the message that Nepal is safe should be spread and implemented effectively and that it should be centered in India.



As the Indians are the one who visits most in Nepal, FNCCI stressed allowing using IC worth IRs 200, IRs 500, and IRs 2000 for the convenience of Indian tourist. 



It has been suggested that the land required for the development of tourism infrastructure should be leased by the government at a minimum rate and its duration should be at least 50 years.

Pvt sector suggests govt to bring new Indian currency in operation

Kathmandu: Five employees of the Tribhuvan International Airport (TIA), including two cleaners, have been arrested on charges of smuggling gold. Two kilograms and 332 grams of illegally imported gold was smuggled out through them. It has been found that they have been involved in smuggling gold smuggled from abroad to the airport.



That five persons including two flight attendants and a supervisor were arrested on the charge of being involved in the incident.



Among the arrested are Bhim Kumar Mabo of Panchthar, Suman Tamang of Nuwakot, Rajesh Rai of Udayapur, Hem Bahadur Thapa, a taxi driver from Dolakha and Tara Kant Chaudhary of Saptari.

TIA staffers including sanitation workers involved in gold smuggling

Kathmandu: The government has completely banned the import of 10 different types of materials.



The Ministry of Industry, Commerce and Supplies publish a notice in the Nepal Gazette on Tuesday to ban the import of various goods till mid-July.



The government has banned on import of Indian snack items Kurkure, all types of prepared alcohol, cigarettes and tobacco products, diamond, Mobile sets priced above 600 dollars,s and color television over 32 inches.



Similarly, the import of Jeeps, cars, vans, motorcycles above 250 cc, and all kinds of toys have also been halted.

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