Kathmandu: The price of gold in Nepal saw a significant drop on Wednesday, falling by Rs 7,500 per tola, according to the Federation of Nepal Gold and Silver Dealers' Association.



After hitting an all-time high of Rs 197,900 per tola on Tuesday, the price of fine gold has now settled at Rs 190,400 per tola. The decline marks one of the sharpest single-day drops in recent times, raising concerns among traders and investors.



Silver prices have also dipped, though less drastically. The price of silver dropped by Rs 5 and is currently trading at Rs 1,965 per tola.



Market analysts suggest the fluctuation may be linked to global market trends, changes in the US dollar value, and profit-booking by investors following the recent price surge. The precious metals market in Nepal often mirrors international pricing influenced by geopolitical tensions, inflation expectations, and interest rate movements.



The Federation has advised consumers and investors to stay alert for further volatility in the coming days.

Gold price drops sharply in Nepal, down by Rs 7,500 per tola

Kathmandu: The price of gold surged to an all-time high of Rs 187,000 per tola in the domestic market on Thursday, marking a sharp rebound of Rs 2,700 in a single day, according to the Federation of Nepal Gold and Silver Dealers' Association.



The precious metal was traded at Rs 184,300 per tola on Tuesday, following a Rs 1,700 drop from its earlier peak. The previous record high was Rs 186,000 per tola, recorded on Monday.



Silver prices also saw an uptick, rising by Rs 10 per tola to reach Rs 1,955, up from Rs 1,945 per tola on Tuesday.

Gold hits record high of Rs 187,000 per tola in Nepali market

Kathmandu: Qatar Airways has expressed interest in increasing its flight frequency to Nepal, according to the Civil Aviation Authority of Nepal (CAAN).



During a meeting held on the sidelines of the ICAO Facilitation Conference in Qatar, CAAN Director General Pradeep Adhikari and Chairman of Qatar Civil Aviation Authority, Mohammed bin Faleh Al Hajri, discussed the possibility of expanding air connectivity.



According to CAAN spokesperson Gyanendra Bhul, Nepal has proposed initiating Qatar Airways flights from Gautam Buddha International Airport in Bhairahawa and Pokhara International Airport. In response, the Qatari side said it would study the technical feasibility and market potential before making a decision.



Qatar currently operates 28 weekly flights to Tribhuvan International Airport (TIA) in Kathmandu. It has proposed to continue flights at this frequency. One of its flights was temporarily operated from Bhairahawa during runway maintenance at TIA.



The Qatari side also requested Nepal’s support in the upcoming 2026 ICAO Council elections. In return, Nepal stressed the importance of initiating flights from Bhairahawa and Pokhara, as per CAAN’s official statement.



The two sides also agreed to form a joint technical team soon to study and facilitate operations at Nepal’s new international airports.



Source: RSS

Qatar Airways shows interest in increasing flights to Nepal

Kathmandu: Minister for Forests and Environment, Ain Bahadur Shahi Thakuri, has emphasized the need to promote ecotourism in conservation areas and link it directly with improving local livelihoods.



Speaking at the inaugural event of the 30th Wildlife Week organized by the Department of National Parks and Wildlife Conservation, Minister Shahi stated that conservation areas should be financially self-reliant by generating their own revenue. He pointed out that the growing wildlife population has led to an increase in human-wildlife conflict, posing significant management challenges.



“We need the support of all concerned bodies, stakeholders, and the Ministry of Forests itself to manage and minimize these conflicts,” he said.



Also speaking at the event, Secretary at the Ministry of Forests and Environment, Dr. Deepak Kumar Kharal, noted that while conservation efforts have been successful, it is now essential to shift focus towards human-wildlife conflict management. He stressed the importance of fostering a uniform understanding and sense of ownership among local communities regarding conservation.



Director General of the Department, Dr. Ram Chandra Kandel, said the increase in wildlife numbers should be seen as an achievement but also a shared responsibility. “Everyone must work together to overcome the resulting challenges and protect these gains,” he added.



Other speakers, including Deputy Director General Bed Kumar Dhakal, senior ecologist Hari Bhandra Acharya, Chairperson of the Forest Technicians Association Dr. Rakesh Karna, and Director of the National Trust for Nature Conservation Dr. Chirinjivi Prasad Pokharel, echoed concerns over escalating human-wildlife conflict and called for collective action to address it.



Officials believe the week-long programme will help raise awareness and strengthen public engagement in wildlife conservation efforts across the country.



Source: RSS

Minister stresses ecotourism, livelihood link at 30th wildlife week

Kathmandu: The price of gold in Nepal soared to an all-time high of Rs 185,000 per tola on Friday, marking a sharp single-day increase of Rs 3,900, according to the Federation of Nepal Gold and Silver Dealers' Association.



This surge follows a significant jump of Rs 5,700 on Thursday, continuing a bullish trend in the market. On Chaitra 21, gold had previously peaked at Rs 180,300 per tola before experiencing a brief decline.



Fine gold was trading at Rs 181,100 per tola on Thursday, indicating a two-day rise of nearly Rs 10,000.



Silver prices also saw a modest uptick, increasing by Rs 5 per tola to reach Rs 1,905 from Thursday’s Rs 1,900.



Analysts attribute the rising prices to global market trends and increased investor demand for safe-haven assets.

Gold hits record high of Rs 185,000 per tola in Nepali market

Kathmandu: The United Arab Emirates (UAE) government has launched a two-month amnesty program that allows Nepali nationals living illegally in the country to return home without facing penalties.



The initiative, which started on September 1 and will run until October 30, provides an opportunity for foreign workers and tourists whose visas have expired or who have violated immigration rules to leave the UAE without legal consequences.



The program also benefits those who entered the UAE with valid visas but violated immigration regulations.



The amnesty is open to foreign nationals who have overstayed their visas, including tourists, and workers who have left their employer without following the proper legal process.



However, the program does not apply to individuals who entered the UAE without a visa.



The Nepali Embassy in Abu Dhabi has urged Nepali nationals living illegally in the UAE to take advantage of the amnesty program.



The embassy has assured that individuals who complete the process and return to Nepal will not face any restrictions if they wish to return to the UAE in the future.

UAE offers amnesty program for illegal foreign workers

Kathmandu: Nepal and India have signed a new Memorandum of Understanding (MoU) aimed at enhancing bilateral cooperation in agricultural science and technology, replacing the previous agreement signed in December 1991.



The MoU was signed in Kathmandu by Nepal's Minister for Agriculture and Livestock Development, Ramnath Adhikari, and India's Minister for Agriculture, Farmers Welfare and Rural Development, Shivraj Singh Chouhan. The agreement covers a wide range of areas, including crop production, agricultural trade and marketing, plant protection, horticulture, organic farming, climate-resilient agriculture, and post-harvest management.



The agreement also focuses on promoting integrated farming systems, micro-irrigation, natural resource management, and the use of bio-fertilizers and bio-pesticides to support sustainable agricultural practices.



Minister Chouhan, currently on a three-day official visit to Nepal, also met with Prime Minister KP Sharma Oli on Wednesday. According to a statement from the Indian Embassy in Kathmandu, Chouhan conveyed greetings from the Indian leadership and discussed ways to deepen India-Nepal cooperation in agriculture. Both sides reaffirmed their commitment to strengthening historical and people-to-people ties between the two countries.



The Indian Minister is in Kathmandu to attend the 3rd BIMSTEC Ministerial Meeting on Agriculture (BAMM), held on Wednesday. The forum, which includes member states from the Bay of Bengal region, has identified “Agriculture and Food Security” as a core area of collaboration. Ministers from member countries discussed strategies to advance cooperation in agriculture, fisheries, and livestock.



During the meeting, Chouhan congratulated Nepal for successfully hosting the event and reviewed progress on bilateral agricultural initiatives and development projects.

Nepal and India sign new MoU to strengthen agricultural cooperation

Kathmandu: Prime Minister KP Sharma Oli has instructed ministers and secretaries to prioritize increasing production and employment in the upcoming fiscal year's budget.



During a meeting held at the Prime Minister's Office in Singha Durbar on Thursday, PM Oli emphasized that the budget must reflect national needs and priorities. He said good governance is essential to ensuring peace, security, and public service delivery, and stressed the importance of resource-backed security measures to curb disruptive activities.



"The budget must not compromise on good governance," said Oli. "Those evading revenue must be held accountable. Only through adequate revenue collection can we ensure sufficient development spending."



The Prime Minister also warned against preparing budgets without securing reliable funding sources, and urged ministers to avoid favoritism in budget allocation.



Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, also present at the meeting, stated that the upcoming budget would be based on standards that discourage budget scattering. He said the government was collecting suggestions from various sectors to ensure an effective and targeted financial plan.



According to the Ministry of Finance, the government has collected 55 percent of its targeted revenue so far this fiscal year, while total expenditure has reached 52 percent. Capital expenditure remains at 28 percent.



As mandated by the constitution, the federal government is required to present the budget on Jestha 15 of the lunar calendar. The discussions on principles and priorities are scheduled to take place in parliament ahead of the budget announcement.



Source: RSS

PM Oli directs focus on production and employment in upcoming budget

Kathmandu: Nepal has initiated groundwork to exit the Financial Action Task Force (FATF) grey list, with a key meeting of the Asset Laundering Prevention Directive Committee held on Monday to finalize and implement a national action plan.



The meeting decided to enforce a detailed plan outlining responsible agencies, specific activities, and deadlines to address shortcomings identified by the FATF.



Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel emphasized the need to follow the action plan diligently while also focusing on long-term reforms to prevent Nepal from being grey-listed again in the future.



Minister for Law, Justice, and Parliamentary Affairs Ajay Kumar Chaurasiya stated that legal provisions were not lacking, and with strong political will, Nepal could successfully come off the grey list.



Attorney General Ramesh Badal stressed the importance of institutional good governance, while Chief Secretary Ek Narayan Aryal called for coordinated efforts among all agencies and prioritization of key reforms.



Acting Governor of Nepal Rastra Bank, Neelam Dhungana Timilsina, highlighted the importance of early and systematic implementation rather than last-minute efforts.



Participants at the meeting pointed to the need for progress in risk assessment, inter-agency coordination, regulation and supervision, investigation and prosecution, and recovery of illicit assets. They agreed that effective implementation, rather than mere legal frameworks, would be critical to achieving the goal.

Nepal begins preparations to exit FATF grey list

Kathmandu: Nepal's economy is projected to grow 4.5 percent in FY25, up from 3.9 percent in FY24, despite significant natural disasters in late 2024. Growth is expected to be driven by increased domestic trade, hydropower generation and paddy production, according to the World Bank’s latest Nepal Development Update: Leveraging Resilience and Implementing Reforms for Boosting Economic Growth, released today.



The report also forecasts that Nepal's economy will grow at an average annual rate of 5.4 percent in FY26 and FY27, driven largely by the services sector.



“Boosting private sector-led economic growth is critical to creating the jobs that Nepal needs. To achieve this, Nepal can build on its impressive track record of resilient growth backed by implementing key structural reforms," said David Sislen, World Bank Country Division Director for Maldives, Nepal, and Sri Lanka.



The report highlights downside risks to the economic outlook, including geopolitical and trade-related uncertainty. It also points to the potential further deterioration of asset quality in Nepal’s financial sector, the risk of policy inconsistency arising from frequent bureaucratic changes in the government, and delays in the execution of the capital expenditure budget.



“The Nepal Development Update provides valuable insights on recent economic developments and highlights Nepal’s resilient growth. Boosting growth further to meet the country’s 16th Plan targets requires effective execution of the capital budget and timely completion of ongoing projects,” said the Honorable Vice Chairman of the National Planning Commission, Professor Dr. Shiva Raj Adhikari.

Nepal's Economy Expected to Remain Resilient in Face of Economic Shocks, says World Bank

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.

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