Kathmandu: Nepal’s digital financial sector is rapidly expanding, driving financial inclusion and economic growth, according to a flagship report launched by the International Finance Corporation (IFC) and Nepal Rastra Bank (NRB).



The report outlines key milestones achieved through two major projects: Access to Financial Services, supported by Japan and the United Kingdom, and Digital Financial Services in Nepal, backed by the Government of Korea. It highlights the successful implementation of the National Payment System Development Strategy (NPSDS) and Retail Payment Strategy, which have significantly expanded digital transactions, particularly in underserved areas.



"Digital finance is a dynamic and rapidly evolving field," said Gregory Smith, IFC Manager for South Asia. "This report offers financial institutions and regulators insights into digital finance trends and strategies to ensure a sustainable digitalization journey for Nepal."



Over the past decade, advancements in financial technology, internet penetration, and the adoption of electronic payments have reshaped Nepal’s financial landscape. The report notes a 125% increase in digital transactions between FY 2019/20 and FY 2021/22, with total digital payments rising from NPR 2.8 trillion (USD 21 billion) to NPR 6.2 trillion (USD 47 billion).



NRB Governor Maha Prasad Adhikari emphasized the importance of digital financial services in fostering financial inclusion, reducing costs, and improving efficiency. "Our longstanding partnership with IFC will help extend these essential services to more people and create a more equitable financial future for all Nepalis," he said.



The report also identifies key areas for further growth, including investment in digital infrastructure, financial literacy, and cybersecurity, to ensure safe and widespread access to digital financial services for all citizens.

Digital financial services transforming Nepal’s economy, says IFC-NRB report

Kathmandu: The price of gold has reached a new record in the domestic market, with an increase of Rs 600 per tola on Sunday.



According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold is now being traded at Rs 176,800 per tola, surpassing the previous price of Rs 176,200 per tola recorded on Friday.



In contrast, the price of silver has experienced a slight dip. Silver, which was priced at Rs 2,040 per tola, has fallen to Rs 2,025 per tola.

Gold prices hit all-time high, silver prices see slight decline

Kathmandu: The Kathmandu Metropolitan City (KMC) has issued a fine notice to former King Gyanendra Shah after he refused to accept a letter regarding penalties for damage and littering during the pro-monarchy protest in Tinkune last Friday. The penalty amounts to Rs 793,000, which covers the costs of the damage and cleanup required in the aftermath of the unrest.



On Sunday, a KMC police team attempted to deliver the fine notice to Nirmal Niwas, the former king's private residence. However, the delivery was blocked by security personnel and staff, who turned the officers away at the gate. In response, the KMC authorities resorted to sending the penalty notice via postal mail.



The protest, which took place on Friday, was marked by vandalism and arson in Tinkune and Koteshwor areas, causing significant damage to public property.

KMC sends fine notice to former King Gyanendra Shah for damage and littering during Tinkune protest

Kathmandu: The World Bank’s Board of Executive Directors today approved a financing package of $150 million for Nepal’s Third Bridges Improvement and Maintenance Program (BIMP-III) to strengthen the resilience of bridges in the Strategic Road Network, ensuring safer and uninterrupted connectivity across the country’s diverse and challenging terrain.



Nepal's bridge system serves as critical lifelines connecting remote and urban communities to essential services, including healthcare, education, and economic opportunities. Vulnerabilities caused by frequent climate-induced disasters such as floods, landslides, and earthquakes severely affect the bridge infrastructure.



The program, led by Nepal’s Department of Roads, will focus on climate-resilient measures such as enhanced structural designs and innovative technologies, including real-time monitoring systems to safeguard bridges against extreme weather events. The program will also support bridge designs prioritizing accessibility for all users, connecting marginalized communities to vital services.



“The resilience of Nepal’s bridge network is fundamental for safe and sustained connectivity,” said David Sislen, Division Country Director for Maldives, Nepal, and Sri Lanka. “This program emphasizes resilient infrastructure development and promoting access to markets and services for vulnerable communities while promoting Nepal’s sustainable growth.”



The program includes capacity-building initiatives for the Department of Roads, promoting innovative solutions and strengthening institutional systems for effective infrastructure management.

World Bank approves $150 million to improve resilience of bridge network, connectivity, and access to services

Kathmandu: The House of Representatives meeting scheduled for Wednesday was adjourned until Thursday following continuous obstruction by opposition lawmakers protesting the government's decision to dismiss former Nepal Electricity Authority (NEA) Managing Director Kulman Ghising.



The session, set to commence at 11:00 AM, was initially delayed by half an hour due to disruptions but was ultimately adjourned for the entire day without addressing any agenda items. Lawmakers from the opposition, including the main opposition party CPN (Maoist Center), demanded an explanation from the government regarding Ghising’s removal.



Ghising, known for ending Nepal’s prolonged power outages, is considered close to the Maoist Center. His appointment as NEA chief was made under a Maoist-led government, and his dismissal has sparked strong resistance from opposition parties.



The parliamentary secretariat issued a notice stating that the session would resume at 3:00 PM, but as the disruption continued, Speaker Devraj Ghimire adjourned the house until 11:00 AM on Thursday.



The opposition remains firm in its demand for justification of the government’s move, signaling further parliamentary deadlock.

Parliament session adjourned amid opposition protest over Kulman Ghising's dismissal

Kathmandu: Nepal’s trade deficit has surged to Rs 987.39 billion in the last eight months of the current fiscal year, despite a 57.2% increase in exports. Total foreign trade reached Rs 1.3 trillion, with imports rising by 11.2% compared to the previous year.



Petroleum imports remain a major contributor, with Rs 78.86 billion spent on diesel, Rs 42.80 billion on petrol, and Rs 41 billion on LPG. Additionally, Nepal imported electric vehicles worth Rs 9.69 billion and smartphones worth Rs 21.91 billion.



The trade deficit with India stands at Rs 563.67 billion, with imports totaling Rs 688.68 billion against Rs 125 billion in exports. Similarly, Nepal’s trade deficit with China reached Rs 21.70 billion.



Despite the deficit, exports reached Rs 158 billion, driven by processed edible oil, including Rs 47.94 billion in soybean oil and Rs 7.98 billion in sunflower oil. Other key exports include cardamom (Rs 5.83 billion) and carpets (Rs 4.32 billion).



Nepal recorded a trade surplus with 34 countries, including Afghanistan, Denmark, Russia, Austria, and the Maldives.

Nepal’s trade deficit reaches Rs 987.39 billion despite export growth

Kathmandu: The government has dismissed Kulman Ghising as the Managing Director of Nepal Electricity Authority (NEA), citing ten reasons, including insubordination, failure to implement board decisions, and unauthorized foreign trips.



A three-page letter from the Ministry of Energy states that Ghising publicly criticized the government, fostered internal factionalism, and failed to collect overdue payments from electricity users. He was also accused of negotiating power trade agreements with India without board approval. The ministry had sought clarification six times and gave him a zero performance rating.



Ghising, who was appointed for a second term in August 2021, was removed by the Cabinet on March 24 and replaced by Hitendra Dev Shakya. He is now preparing to challenge the decision in court.

Kulman Ghising dismissed as NEA MD, cites political motives

Kathmandu: The ‘Nepal-Myanmar Trade and Tourism Expo 2025’ has concluded in Yangon, aiming to strengthen bilateral ties and promote Buddhist tourism in Nepal.



According to the Nepal Tourism Board, the expo served as a platform to invite Buddhist pilgrims from Myanmar to visit Nepal. The event was organized on March 21-22 to mark the 65th anniversary of diplomatic relations between Nepal and Myanmar. It was jointly hosted by the Nepal Tourism Board and the Embassy of Nepal in Myanmar.



The expo featured Nepal’s Buddhist tourism destinations, tourism products, information technology, and other goods. A total of 16 companies from Nepal and 30 from Myanmar participated in the event.



With a strong focus on Buddhist tourism promotion, Nepal urged Myanmar’s travelers to visit Lumbini via Gautam Buddha International Airport. Additionally, Nepal’s information technology sector was showcased as a potential contributor to Myanmar’s banking and financial technology development.



Myanmar’s Union Minister U Tun Aung, Nepal’s Ambassador to Myanmar Harishchandra Ghimire, and Myanmar Chamber of Commerce President U A Win jointly inaugurated the event.



The opening ceremony was attended by Yangon Region Chief Minister U Sho Thin, government officials, business representatives from both nations, members of the Nepalese community in Myanmar, and tourism sector stakeholders.

‘Nepal-Myanmar Trade and Tourism Expo 2025’ concludes in Yangon

Kathmandu: The Association of Investment Bankers of India (AIBI) and the Merchant Bankers Association of Nepal (MBAN) have signed a Memorandum of Understanding (MoU) to enhance collaboration in the investment banking sector.



According to a press release issued by AIBI, the agreement aims to promote capacity building, professional development, regulatory understanding, and best practices for investment bankers in both countries.



Under the MoU, AIBI and MBAN will collaborate on knowledge sharing, policy advocacy, networking opportunities, and ethical standards in investment banking. The partnership also includes joint events, research collaboration, policy representation, exchange programs, and digital initiatives.



The MoU will remain in effect for three years, with a provision for extension.



Commenting on the development, AIBI CEO Dr. Milind Dalvi said the agreement underscores a commitment to fostering an integrated and advanced investment banking environment. He highlighted India's growing capital market and its position as an IPO hub, emphasizing the potential benefits of regional cooperation.



MBAN Chairman Ramendra Rayamajhi stated that the partnership would help Nepal’s investment banking professionals compete globally and contribute to economic growth. He described the MoU as a milestone in building a collaborative and inclusive investment banking ecosystem.



The agreement also seeks to strengthen regulatory cooperation between Nepal and India, aiming for better alignment of policies and frameworks to support capital market development in both countries.

India, Nepal sign MoU to strengthen investment banking cooperation

Kathmandu: The United Nations Development Programme (UNDP) and the Nepal Tourism Board (NTB) have signed a $5 million financing agreement to launch the Sustainable Tourism Project (STP), an initiative aimed at strengthening tourism infrastructure, skilling the workforce, and creating 2,500 sustainable jobs across Nepal.



The project aligns with Nepal’s 16th Plan, the Sustainable Development Goals (SDGs), and the country’s Tourism Decade (2023-2032), reinforcing efforts to promote environmentally sustainable and inclusive tourism.



At the signing event, Binod Prakash Singh, Secretary of the Ministry of Culture, Tourism, and Civil Aviation, emphasized the project’s significance in building a resilient tourism sector. “Building on the success of the Sustainable Tourism for Livelihood Recovery project, we are excited to launch this new initiative. Our goal is to harness Nepal's rich cultural heritage and promote a sustainable, inclusive, and diverse tourism sector for a brighter future,” he stated.



The initiative is expected to boost Nepal’s post-pandemic tourism recovery while supporting long-term economic growth through eco-friendly and community-driven tourism models.

UNDP and Nepal Tourism Board launch $5M Sustainable Tourism Project

Kathmandu: The price of gold in the domestic market has reached a new all-time high, setting a fresh record on Wednesday. According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of gold surged by Rs 800 per tola, reaching Rs 176,000 per tola. This marks the highest price ever recorded for gold in Nepal, surpassing Tuesday's price of Rs 175,200 per tola.



In contrast, silver prices saw a slight dip. The price of silver decreased by Rs 5 per tola, with silver now trading at Rs 2,045 per tola, down from Rs 2,050 per tola on Tuesday.



The continuous increase in gold prices has captured the attention of both investors and the general public, with the precious metal reaching unprecedented values in recent weeks.

Gold price hits record high in Nepali market

Kathmandu: For the first time, a commercial charter flight has been operated from Pokhara International Airport to Chengdu, Sichuan Province, China. The flight, which took off on Tuesday, marks a significant milestone for the airport, which opened its doors in January 2023.



The historic flight was made possible through the collaboration of several organizations, including the Pokhara Tourism Council, Pokhara Metropolitan City, the Chinese Embassy in Nepal, Sichuan Airlines, and the Chinese Association in Nepal. The flight is the result of persistent efforts by the private sector and local authorities to establish international connections for the newly inaugurated airport.



Onboard the first commercial flight were Pokhara Metropolitan City Mayor Dhanraj Acharya, Pokhara Tourism Council Chair Taranath Pahari, Nepal Tourism Board Gandaki Province Chief Maniraj Lamichhane, and a 126-member delegation of tourism entrepreneurs and media personnel. The delegation's mission is to promote tourism between Nepal and China, specifically to highlight the potential of Pokhara as a travel destination.



The Pokhara team was warmly welcomed by Nepali Consul General to China Suresh Raut, Sichuan Provincial officials, and representatives from Sichuan Airlines at Chengdu Airport.



During the occasion, Mayor Acharya emphasized that the first commercial flight was the result of sustained efforts from various sectors, particularly when international flights had not yet been operational from Pokhara International Airport. Discussions were also held regarding business-to-business (B2B) opportunities between tourism entrepreneurs from Nepal and China, further bolstering the tourism prospects of Pokhara.



The successful launch of the commercial charter flight is a pivotal moment for Pokhara International Airport, furthering the city's aspirations to become an international tourism hub.

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