Kathmandu: Nepal Airlines Corporation (NAC), which was preparing to operate Delhi-Bhairawa flight from next Monday, has halted its plan.



As the regulatory body of India has not yet given any response to the proposal for flight permission, the airlines will not fly from and to Bhairahawa.



About a week ago, the Nepal Airlines Corporation had sent a proposal to Civil Aviation Authority of Nepal for flight approval for the Kathmandu-Delhi-Bhairawa flight.



With this proposal, the authority requested the approval from the Aviation Authority of India. But the flight on this route got confused after India did not give permission for the flight.

India's cold response on Bhairahawa-Delhi flight

Kathmandu: Value of the US dollar fell on Wednesday.



According to Nepal Rastra Bank, today the buying rate of one dollar has reached at 130.37 rupees and the selling rate has been reached at 130.97 rupees.



On Tuesday, the buying rate of the US dollar was 130.65 rupees and the selling rate was 131.25 rupees. This price has decreased by 28 paisa compared to the previous day.

Value of Dollar dropped slightly

Kathmandu: The plane of Aero Thai Company has arrived at Pokhara International Airport for the calibration i.e. mechanical test flight to be held on Monday at Pokhara International Airport.



Regular flights will be affected during the calibration flight. After the calibration flight, based on the report provided by Aero Thai Company, the airport will be functional.

Aero Thai aircraft reach Pokhara for test flight

Kathmandu: Alcohol will not be sold to fans at the World Cup's eight stadiums in Qatar after Fifa changed its policy two days before the start of the tournament.



Alcohol was set to be served "in select areas within stadiums", despite its sale being strictly controlled in the Muslim country.



Those in corporate areas of stadiums at the tournament will still be able to purchase alcohol, reported the BBC.



The World Cup starts on Sunday when Qatar play Ecuador.



The Football Supporters' Association (FSA) criticised the timing of the decision to ban the sale of beer for most fans.



In August, Fifa changed the start date of the World Cup so that the first game of the competition would be Qatar facing Ecuador.



The game was scheduled to be played on 21 November as the third game, with Senegal against the Netherlands set to be the opening match earlier that day.

Alcohol sales banned at World Cup stadiums in Qatar

Kathmandu: In the first three months of the current financial year, students going abroad for foreign studies have taken around 18 billion rupees abroad.



In the same period of the previous year, the net service income was in loss by 23.34 billion rupees. Under the service account, the tour income increased by 110.4 percent to 11.41 billion during the review period.



During the same period of the previous year, such income was 5.42 billion. During the review period, travel expenses under the service account increased by 62.3 percent to 26.4 billion.



According to Nepal Rastra Bank, the expenditure on education is 17.89 billion rupees.



In the same period of the previous year, the expenditure on tourism was 16.4 billion rupees, while the expenditure on education was 8.92 billion rupees.

Nepali students studying abroad spent 18bn in last three months

Kathmandu: Buddha Air has announced direct flights to Banaras, India from Pokhara International Airport. The airport is currently under final phase of construction.



The company announced on Monday that it will fly directly to Banaras after the Pokhara airport becomes operational. The government has already announced that this airport will be operational from January 1, 2023.



According to the company, there will be three flights a week (Sunday, Tuesday and Thursday) between Pokhara and Banaras. Buddha is currently flying on the Kathmandu-Banaras route.



According to Buddha Air, there is a plan to expand flights from Pokhara Airport to two more airports in India.



As the Government of Nepal is taking initiatives with the Government of India for air traffic service routes, as soon as the slots and routes are approved, Buddha will fly on the Pokhara-Delhi and Pokhara-Dehradun routes.



Buddha Air has informed that it will fly to these two destinations 2 and 3 days respectively in a week. Buddha Air has informed that the process for these routes will be carried forward as soon as possible.

Buddha Air to operate flight from Pokhara to Banaras, India

Kathmandu: Nepal has received 86.5 bn foreign aid commitments in the last three months.



According to the Ministry of Finance, in the first quarter of the current fiscal year, Nepal has received foreign aid commitments worth 86.41 billion rupees. In which there is a subsidy of 6.71 billion rupees while 79.70 billion rupees is debt.



In the meantime, a commitment of 12.75 billion rupees, 34.96 billion rupees and 17.79 billion rupees has been received from the World Bank, for environment, roads and ICT respectively. Japan has expressed a commitment to give 14.20 billion loans for energy.

Nepal receives 86.5 bn foreign aid commitment in first three months of the fiscal year

Kathmandu: The protest of the private sector has been postponed for now.



The protest was suspended after Nepal Rastra Bank Governor Mahaprasad Adhikari promised to address the problems of industrialists through the quarterly review of monetary policy.



The Federation of Nepalese Chambers of Commerce and Industry and has also decided not to do any activity related to the protest for the time being.



The Federation issued a statement and requested all provincial chapters and member organizations to postpone the protest program.



Industrialists and businessmen had been protesting in different parts of the country saying that the banks had increased the interest rates.



The General Assembly has asked to postpone the protest program for the time being as the election of members of the House of Representatives and Provincial Assembly is going to be held on November 4th.



The businessmen were protesting in Biratnagar, Dang, Butwal, Kathmandu and other major cities saying that the banks were charging high interest.

Private sector halts protest against increase in bank interest

Kathmandu: The government has set the minimum support price of paddy for this year. Ministry of Agriculture informed that the support price of rice for the financial year 2079/80 has been set by the cabinet meeting.



This year, the support price of coarse paddy has been set at Rs 2,967 per quintal. This price is 215 rupees more than last year. Similarly, the price of medium paddy has been set at Rs 226 more than last year, i.e. Rs 3,128 per quintal.



Farmers have felt some relief after the increase in the price of paddy. The government has been fixing the minimum support price of rice to ensure the sale of agricultural produce.



But the farmers have been complaining that even though the support price has been fixed, the government company does not buy rice saying that the quota has been fulfilled.

Govt fix support price for paddy

Kathmandu: As South Asia reels from the impacts of unprecedented economic shocks, migration can boost its recovery and support long-term development, says the World Bank in its latest regional economic update.



Coping with Shocks: Migration and the Road to Resilience is the subject of a two-day conference that opens today, organized by the Institute for Integrated Development Studies and the World Bank.



The conference provides academics and researchers a platform to discuss the current situation, challenges and advancements related to migration in South Asia.



Migration drives economic growth as it allows people to move to where they are more productive. International migrants from Bangladesh, Nepal, Pakistan, and Sri Lanka who work in the Gulf states, for example, earn up to five times what they would at home and help generate some of the largest remittance inflows in the world.



Nepal derives an estimated 20 percent of its income from remittance inflows, and in Bangladesh and Pakistan, remittance revenue accounts for 6 and 8 percent of GDP, respectively. Migration also allows people to adjust to local economic shocks, such as extreme-weather disasters, to which South Asia’s rural poor are highly vulnerable.



Poor South Asian migrants, many of whom hold temporary jobs in the informal sector, face several challenges such as precarious labor market conditions, visas tied to employment, and limited access to social protection.



The COVID-19 pandemic exposed their long-standing vulnerabilities as they were disproportionately affected by restrictions to movement.



However, the later phase of the pandemic has highlighted the crucial role migration can play in facilitating recovery.



Survey data from the report suggests that in late 2021 and early 2022, migration flows are associated with movement from areas hit hard by the pandemic to those that were not, thus helping equilibrate demand and supply of labor in the aftermath of the COVID-19 shock.



In Nepal, by late 2021, migrants were 13 percentage points more likely to be employed than those who did not migrate after facing job loss during the early months of the pandemic.



The report offers several recommendations on cutting the high costs of migration, including drawing bilateral and multilateral agreements, strengthening the remittance infrastructure, and offering information and training programs to help potential migrants make better decisions about moving.



It also offers recommendations on de-risking migration through means such as more flexible visa policies, mechanisms to support migrant workers during shocks, and social protection programs.

World Bank sayss migration can support long-term development of South Asia

Kathmandu: Investors bringing foreign investment will not get a business visa if they do not register the company.



Department of Industries has stated that the foreign investors who have not registered their company‎ will not get visa. As the foreign investors found getting visa and not bringing investment, the department has taken such decision.



The Department of Industry recommends business visas at the Single Point Service Center (Visa Facilitation Unit) to foreign investors.



During the last 25 years, Nepal has received a commitment of 357 billion rupees for direct foreign investment, but only 130 billion rupees worth of foreign investment has come in.

Govt halt renewal of business visas for foreign investors who do not register companies

Kathmandu: Director General of Civil Aviation Authority of Nepal (CAAN) Pradeep Adhikari has said that CAAN itslef will take the responsibility of ground handling of Pokhara International Airport.



Talking to mediapersons after the inaugural program of Bhairahawa-Kuala Lumpur flight at Gautam Buddha International Airport Bhairahawa, Director General said that the authority will handle the ground handling of Pokhara International Airport.



According to him, there is no authority to give the ground handling of Pokhara International Airport to someone else.



From Thursday, Himalaya Airlines has started flights from Gautam Buddha International Airport to Kuala Lumpur.



In the first flight, 135 people took the flight from Bhairahawa to Kuala Lumpur.



For now, regular chartered flights will be conducted from Bhairahawa and in the coming days, Himalaya Airlines will fly according to the schedule.

Finance

Our Team

Contact Information

Address (USA):

Address (Nepal):

Email:

Phone: