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Government Cash Reserves Reach NPR 4.18 Trillion, Tripling from Previous Year

Written by space4knews on . Posted in Business.

According to Nepal Rastra Bank, the government cash reserves in the treasury have reached NPR 4.18 trillion 854 crore during the first 11 months of the current fiscal year. Compared to the end of the previous fiscal year in Asar, the government’s cash holdings have increased by NPR 280 billion 76 crore. At the end of the previous fiscal year, cash reserves stood at just NPR 137 billion 78 crore; they have now nearly tripled.

June 29, Kathmandu – The government treasury currently holds over NPR 4.18 trillion in cash reserves. Latest data published by Nepal Rastra Bank shows that as of the end of 11 months of the current fiscal year (Jestha end, 2083 BS), this amount has accumulated in government accounts. This reserve is approximately three times higher than the amount recorded at the end of the previous fiscal year.

According to Nepal Rastra Bank, as of Jestha end 2083 BS, the central bank held NPR 4 trillion 18 billion 54 crore in various accounts of the Government of Nepal. At the end of Asar 2082 BS, the cash reserve was only NPR 1 trillion 37 billion 78 crore. Thus, within an 11-month period, government cash reserves increased by NPR 280 billion 76 crore.

External Economic Indicators Strong, Internal Factors Show Weakness

Written by space4knews on . Posted in Business.

News Summary

Prepared after editorial review.

  • According to Nepal Rastra Bank’s report, unprecedented growth in remittances and foreign exchange reserves have strengthened the country’s external economic indicators significantly.
  • In the first 11 months of the current fiscal year, foreign exchange reserves reached NPR 3.755 trillion, and remittance inflows totaled NPR 2.12 trillion.
  • Despite strong external factors, internal economic indicators such as inflation and sluggish bank credit expansion remain weak.

June 13, Kathmandu — Nepal’s external economic indicators have shown considerable strength, while internal indicators continue to display weakness.

According to the latest macroeconomic and financial status report released Monday by Nepal Rastra Bank, external indicators such as remittances, foreign exchange reserves, the net settlement position, and foreign trade parameters all show robust performance.

However, internal indicators including inflation, bank lending, interest rates, domestic production, investment, employment, and revenue collection over the past 11 months have not shown promising progress.

Foreign Exchange Reserves Reach Record High

The central bank reported that the country’s foreign exchange reserves have reached NPR 3.755 trillion, the highest level ever recorded.

This represents a 40.3% increase compared to the previous fiscal year end, where reserves stood at NPR 2.677 trillion as of mid-July last year.

In terms of US dollars, reserves grew by 26.5% during the same period, standing at approximately USD 2.468 billion as of mid-June.

Of the total reserves, NPR 3.33 trillion is held by Nepal Rastra Bank and NPR 425 billion by commercial banks and financial institutions. Indian currency accounts for 21.5% of the total foreign exchange reserves.

Significant Increase in Remittance Inflows

Remittance inflows have grown considerably. In the first 11 months of the current fiscal year, remittances amounted to NPR 2.12 trillion.

This is 38.2% higher compared to the same period last year, according to the central bank. In June 2023, remittance inflows were NPR 230.89 billion.

The month of April saw record remittance inflow of NPR 257 billion. Comparatively, in June 2022, remittances stood at NPR 176.32 billion.

Remittances in US dollars rose by 29.6% to USD 1.459 billion during this period, a notable increase from the 12.8% growth registered last year.

Up to mid-June, net personal transfers reached NPR 2.321 trillion, increasing from NPR 1.669 trillion over the same period last year.

The central bank further reports that 367,211 Nepali workers received final labor approvals for foreign employment during the review period, while 355,735 obtained institutional, individual, or renewal approvals.

Net Settlement Savings Doubled

Due to higher foreign currency inflows compared to outflows, net settlement savings have doubled compared to fiscal year 2024.

As of the first 11 months of the current fiscal year, the net settlement position recorded a saving of NPR 926.06 billion, against NPR 491.44 billion in the previous fiscal year. In US dollars, this saving stands at USD 639 million, up from USD 362 million last year.

The net settlement position covers economic and financial transactions between resident and non-resident individuals and institutions over a defined period. It positively affects foreign currency inflows, especially given the significant remittance inflows.

The current account also showed a surplus of NPR 802.6 billion during the review period, up from NPR 321.74 billion last year. In US dollars, the current account surplus is USD 553 million.

Inflation Nearly Doubles

Inflation in May nearly doubled compared to last year. Nepal Rastra Bank states that annual point-to-point consumer inflation reached 5.22% in May, significantly higher than last year’s 2.72%.

However, the average inflation over the first 11 months of the current fiscal year was limited to 2.89%, compared to 4.24% for the same period last year.

Within this period, inflation in the non-food and service sector (5.37%) was higher than in the food and beverage sector (4.95%). Last year, these figures were 0.54% and 3.94%, respectively.

Slowdown in Credit Expansion

Bank and financial institutions extended only 6.2% credit growth during the first 11 months of this fiscal year. A total of NPR 340 billion in loans was disbursed from mid-July to mid-June, less than the 8% growth of the previous year.

Total loans extended by banks and financial institutions stood at NPR 5.838 trillion as of mid-June.

Despite abundant liquidity and lower interest rates, credit growth has slowed. The average base rate of commercial banks dropped to 4.88% in May from 6.09% the previous year. Development banks’ base rate fell from 8.29% to 6.86%, and finance companies’ from 9.02% to 7.16%.

Weighted average lending rates have also declined notably: from 7.99% to 6.64% for commercial banks, 9.40% to 7.71% for development banks, and 10.22% to 8.90% for finance companies.

Increase in Deposit Growth

Deposits in banks and financial institutions grew by 10.3% in the first 11 months of this fiscal year. An additional NPR 748 billion was deposited, bringing the total deposits to NPR 8.012 trillion by mid-June.

This deposit growth rate exceeds last year’s 8%, posing added challenges for liquidity management as deposit growth outpaces lending.

Tourist Expenditure Declines Slightly

Tourist expenditures in Nepal have seen a modest decline. The central bank reports that tourism income decreased by 0.1% to NPR 8.222 billion in the first 11 months, slightly lower than NPR 8.233 billion in the previous year.

During this period, tourism expenditure was NPR 19.365 billion, down from NPR 20.3 billion the prior year. Educational expenses stood at NPR 13.223 billion in 11 months, compared to NPR 12.475 billion in the previous fiscal year.

Due to higher expenditures than income, net service income recorded a deficit of NPR 7.254 billion, although this is an improvement from last year’s deficit of NPR 8.278 billion.

Inflation Doubles Amid Rising Prices

Written by space4knews on . Posted in Business.

According to Nepal Rastra Bank, the annual consumer inflation in the month of Jestha has reached 5.22 percent. Compared to the same month last year, inflation has nearly doubled this year. Koshi Province recorded the highest inflation at 5.75 percent, while Sudurpaschim Province showed the lowest at 4.61 percent. Kathmandu, 29th Asar.

This year, inflation in the month of Jestha has nearly doubled compared to the previous year. The Economic and Financial Situation Report released by Nepal Rastra Bank on Monday states that annual consumer inflation for Jestha stood at 5.22 percent, whereas it was only 2.72 percent during the same month last year. However, the average inflation for the 11 months of the fiscal year 2082/83 remains limited at 2.89 percent.

During the reviewed month, inflation in the non-food and service group was higher compared to the food and beverage group. According to the central bank, inflation for the food and beverage group was 4.95 percent, while the non-food and service group inflation reached 5.37 percent. Last year, these groups witnessed inflation rates of just 0.54 and 3.94 percent respectively.

Significant price increases were observed in kitchen supplies and transportation. In Jestha, prices of fruits and cooking oil used by consumers rose considerably. Statistics show that the price of the fruit subgroup increased by 17.40 percent and that of ghee and oil rose by 15.10 percent. Various goods and services within the non-food category increased by 16.68 percent, while transportation costs went up by 15.31 percent.

US President Announces 20% Tariff on Ships Passing Through the Strait of Hormuz

Written by space4knews on . Posted in International.

June 29, Kathmandu – US President Donald Trump has announced a 20 percent tariff on ships passing through the Strait of Hormuz. On Monday, Trump declared a blockade against Iranian ports via Truth Social and revealed that the United States will impose tariffs on traffic through the Strait of Hormuz. He also stated that Iran’s top military headquarters, Khatam al-Anbiya, will not be allowed to interfere in the management of the strait.

“The Strait of Hormuz remains open and will remain open with or without Iran,” Trump said. “We are reapplying the Iranian blockade. The goal is to halt the passage of Iranian ships and vessels belonging to its customers.” He added that the waterway will remain accessible and fairly open to all other nations.

“From now on, the United States will be recognized as the guardian of the Strait of Hormuz. Based on fairness, every cargo transported through this sensitive maritime route will be charged a 20 percent tariff to cover the costs of ensuring its security,” he further explained. Trump also noted that this new policy will be implemented immediately.

First Exhibition of Para Tandem and Handcycles Held in Nepal

Written by space4knews on . Posted in Sports.

News Summary

Editorially reviewed.

  • For the first time in Nepal, para tandem bicycles for the visually impaired and handcycles for wheelchair users were showcased in Kathmandu.
  • The exhibition was organized by BIA Institute with support from Inclusive Cycling International based in the United States, aiming to promote inclusive sports and para-tourism.
  • Cyclist Shiv Acharya remarked, ‘Riding at the back of the tandem bike with a friend was an especially unique and enjoyable experience.’

June 13, Kathmandu – Nepal witnessed the first-ever exhibition of para tandem bicycles for visually impaired individuals and handcycles designed for wheelchair users.

Supported by Inclusive Cycling International, based in the United States, BIA Institute hosted a special event on Sunday at Padmodaya Secondary School, located in Bhrikutimandap, Kathmandu, to showcase these specialized cycles.

The BIA Institute introduced these adaptive bicycles in Nepal for the first time. According to the organizers, the initiative aims to ensure easy access to cycling for all, while promoting physical activity, inclusivity, and social participation.

The demonstration ride began at Padmodaya Secondary School and proceeded through Sundhara, Jamal, and past the Narayanhiti Palace Museum, concluding back at the school premises. Approximately 30 members of the Nepal Cycling Society and the F & F Cycling Group provided escort support during the ride.

Ten specialized cycles were utilized during the event. Dilip Sapkota, head of the sports department at BIA Institute, explained that the campaign aims to send a message that visually impaired individuals and wheelchair users can actively participate in adventure and tourism-related activities.

He added that the initiative is expected to attract foreign tourists who are visually impaired or use wheelchairs, thereby contributing to the growth of para-tourism and para-sports in Nepal.

This is the first time such specialized cycles have been introduced in Nepal by BIA Institute, which has been running various skill development and empowerment programs for people with physical disabilities.

Shiv Acharya, a participant in the cycling expedition, described the experience as new and exhilarating. “I have tried this before, but riding at the back of the tandem bike together with a friend gave me a completely different level of enjoyment,” he said.

Similarly, fellow participant Bimal Paudel said that riding the para tandem bike for the first time was a novel experience. “This bike has given me confidence that one can easily cycle together with a friend. I hope to have more opportunities to cycle like this in the future,” she added.

The event was attended by prominent personalities, including Chhogel Rinpoche, founding chairperson of BIA Institute, Nepali film superstar Rajesh Hamal, Scott Wehrli, the acting US Ambassador to Nepal, and other distinguished figures from various fields.

Lalitpur to Provide Home-Based Health Services to Citizens Starting Bhadra 1

Written by space4knews on . Posted in Business.

The Lalitpur Metropolitan City has decided to offer health services directly at the homes of its citizens beginning Bhadra 1. According to Mayor Chiribabu Maharjan, upon calling the hotline number 1131, a medical team equipped with a doctor and necessary supplies will visit the patient’s residence. Only patients requiring further treatment will be referred to hospitals by the metropolitan authority.

Although the service was initially announced to start from Shrawan 1, Mayor Maharjan explained that due to some remaining preparations, the service will now commence from Bhadra 1. While presenting the upcoming fiscal year’s policy, program, and budget passed by the ninth municipal council, he stated, ‘Free ambulance service including doctors, necessary medicines, and equipment will begin from Bhadra 1.’

Upon dialing the hotline 1131, an ambulance along with a health team comprising doctors, nurses, and essential medicines will be sent to the patient’s home. The team will conduct necessary health examinations, provide consultations, and administer primary treatment at the residence. Patients who cannot be treated at home will be referred to the appropriate hospital. Mayor Maharjan emphasized, ‘When someone falls ill at home, simply calling the hotline 1131 will deploy a team with doctors, nurses, and required medical equipment to deliver health services at the doorstep. Only if home treatment proves insufficient will patients be transferred to other hospitals.’

Bhurtel’s Century Powers Nepal to Competitive Total Against Jersey

Written by space4knews on . Posted in Sports.

News Summary

Editorially Reviewed.

  • Opener Kushal Bhurtel scored a century, helping Nepal post a competitive total in the first practice one-day match against Jersey.
  • Before rain interrupted the match, Nepal declared their innings at 246 for eight in 49.2 overs.
  • Nepal will play another practice match against Jersey on Wednesday and later participate in the tri-nation League 2 series in the Netherlands, which also features Namibia.

June 13, Kathmandu – Opener Kushal Bhurtel’s century helped Nepal establish a competitive total in the first practice one-day match against Jersey.

At the Granville Cricket Ground in Jersey, Nepal batted first after losing the toss and managed to reach 246 runs for eight wickets in 49.2 overs before rain forced an innings break.

Earlier, Nepal was 158 for 2 in 31 overs, but rain interrupted play for about an hour and a half. The number of overs was not reduced when the match resumed.

Bhurtel scored 105 runs off 117 balls, hitting 13 boundaries before being dismissed. Bheem Sarki contributed 39 runs.

Nepal was well placed at various stages, reaching 148 for 1 in the 29th over and 172 for 2 in the 35th over, before the batting weakened later in the innings.

For Jersey, Daniel Birrell and Benjamin Ward took two wickets each, while Nick Greenwood and George Richardson and Charles Parchard took one wicket each.

After an additional one-day match against Jersey on Wednesday, Nepal will participate in the tri-nation League 2 series in the Netherlands, which also features Namibia.

Slight Decline in Tourism Revenue; Service Account Records Deficit

Written by space4knews on . Posted in Business.

According to Nepal Rastra Bank, tourism income in the current fiscal year 2082/83 declined by 0.1 percent, totaling NPR 8.222 billion over the first 11 months. During this period, tourism expenditures reached NPR 19.365 billion, while education-related expenses stood at NPR 13.223 billion. With tourism expenditures exceeding income, the country’s net service income recorded a deficit of NPR 7.254 billion, the bank noted.

July 14, Kathmandu – Tourist spending in Nepal has shown a slight decrease. Nepal Rastra Bank data indicates that in the first 11 months (Shrawan to Jestha) of fiscal year 2082/83, tourism earnings fell by 0.1 percent to NPR 8.222 billion, compared to NPR 8.233 billion in the same period last year. During the same timeframe, tourism expenditures were NPR 19.365 billion, down from NPR 20.303 billion in the previous year.

Expenditures related to education abroad in the 11-month period totaled NPR 13.223 billion, up from NPR 12.475 billion recorded in the corresponding period last year. As tourism expenditure continues to surpass income, the net service account deficit reached NPR 7.254 billion, an improvement from last fiscal year’s deficit of NPR 8.278 billion.

Senegal Dismisses Head Coach Pape Thiaw Following 2026 World Cup Exit

Written by space4knews on . Posted in Sports.

After Senegal’s elimination from the final 32 of the 2026 FIFA World Cup, the national team has dismissed head coach Pape Thiaw. The Senegal Football Federation evaluated the team’s performance and decided to terminate the responsibilities of Thiaw and his technical staff. Senegal was defeated 3–2 by Belgium in the last 32, unable to maintain a two-goal lead.

The Senegal Football Federation (FSF) announced following a Saturday executive meeting that it has initiated the process to end the contracts of Thiaw and his entire technical crew. The federation’s statement highlighted that this decision was made in consideration of the detailed assessment of the national team’s performance and future prospects, prioritizing the best interests of Senegalese football.

Thiaw had served as Senegal’s head coach since December 2024. Despite consecutive losses against France and Norway in the group stage, Senegal secured an emphatic 5–0 victory against Iran, finishing third and advancing to the knockout stage. In the round of 32 against Belgium, Senegal held an early 2–0 lead until the 85th minute. However, conceding two goals in the last five minutes pushed the game into extra time. Near the end, Youri Tielemans scored a penalty, sealing Senegal’s 3–2 defeat and World Cup exit.

Following the disappointing World Cup exit, the Senegal Football Federation has opted for a coaching change. The federation is expected to begin the process of appointing a new head coach shortly.

Floods and Landslides Block National Highways at Over a Dozen Locations Across the Country

Written by space4knews on . Posted in Business.

News Summary

Reviewed editorially.

  • Floods and landslides have blocked national highways at more than a dozen locations across the country.
  • Key road sections including Kantipath, BP Highway, Mechi Highway, and Mid-Hill Highway have been completely closed.
  • The Nepal Police released data as of 6 p.m. stating that traffic has been suspended on major roads in various provinces, including the Karnali Corridor.

June 12, Kathmandu – Due to heavy floods and landslides, national highways at over a dozen locations across the country remain blocked. The Nepal Police shared this information citing data collected up until 6 p.m.

According to police, the Kantipath road segment in Bagmati Rural Municipality-3, specifically at Pandur and Takurche located at Bhattedanda, is closed. In the same highway, the Bhalu Khola area is another location where landslides have obstructed the road.

On the Mid-Hill Highway, the road is partially open in Bhojpur Municipality-5, Bokhim, while traffic on the Mechi Highway at Ilam Municipality-9, Rajduwali, has been completely shut down.

Transportation is fully halted in Yangwarak Rural Municipality-1, 2, and 3 of Panchthar on the Mid-Hill Highway. Traffic is also blocked in the Khurkot-Nepalthok-Katunjebesi section of the BP Highway. The Kantipath segment covering Hetauda-Thingnan-Bagmati-Lalitpur is also closed, according to the police.

On the Hetauda-Kathmandu route, vehicle movement has been suspended along the Hetauda-Bhaise-Bhimfedi-Deurali-Sisneri-Kathmandu corridor. The Kantipath section at Bhimfedi-8, Bharyangdanda, is also closed. The Fakhel-Kulekhani segment has been shut down as well. The Kodari section of the Arniko Highway is open for one-way traffic.

A police source reported that landslides have blocked traffic on the internal road between Pokhara and Tangting in Gandaki Province. The New Bridge-Ghandruk stretch remains partially operational for one-way traffic. In Lumbini Province, traffic is closed in the Arghakhanchi Saljhundi-Dhorpatan road section at Panini-2, Dhungrekhola.

Landslides have obstructed transportation in Kaaule of Gulmi Chhatrakot-3 along the Madan Bhandari Highway. The road is also blocked in Rakse, under the Kaligandaki Corridor, according to police.

Traffic is suspended in Humla’s Kharpunath-5, Bisauni, and Shubhakalika Rural Municipality in Kalikot, within the Karnali Corridor.

Severe Fire Breaks Out at Bangkok Bar, People Flee the Scene

Written by space4knews on . Posted in News.

Video caption begins, Severe fire breaks out at Bangkok bar, people flee

Severe Fire Breaks Out at Bangkok Bar, People Flee the Scene

Published

Watch scenes of people fleeing following a severe fire at a bar in Bangkok.

A major fire has erupted at a bar located in the capital city of Thailand.

The incident has claimed at least 28 lives, with eight others sustaining serious injuries.

Firefighters managed to bring the blaze under control within approximately 30 minutes.

An investigation into the incident is currently underway.

Watch more videos and subscribe on our YouTube channel here. You can also follow our content on Facebook, Instagram, and Twitter. Additionally, our radio programs air Monday through Friday at 8:45 PM.

Top 10 Controversial Decisions in the 2026 FIFA World Cup

Written by space4knews on . Posted in Sports.

The 2026 FIFA World Cup semifinals have secured their spots for Argentina, France, Spain, and England. Held across the United States, Mexico, and Canada, the tournament introduced new technologies that sparked several controversial decisions. Among the top 10 disputed incidents, Lionel Messi’s red card, Balogun’s dismissal, and VAR rulings have drawn significant attention. Kathmandu, June 13.

With only the semifinals and final matches remaining in the 2026 FIFA World Cup, jointly hosted by the US, Mexico, and Canada, the semifinals feature defending champions Argentina alongside France, Spain, and England. For the first time, 48 nations competed in this expanded tournament, which incorporated several new technologies. While these technologies enhanced the excitement of the games, some sparked controversies. This article outlines the 10 most debated decisions so far.

10. Egypt vs. Argentina – Disallowed Egypt Goal: Egypt had built a surprising 2-0 lead against the defending champions Argentina, creating hopes of a historic upset. However, their lead was short-lived. In the 60th minute, Giacomo scored to extend Egypt’s advantage. Yet, during the play, the ball briefly went out of play, prompting the Video Assistant Referee (VAR) to overturn the second goal. Egypt protested, arguing that a penalty should have been awarded to them before Argentina scored the winning goal. They formally lodged a complaint with FIFA, accusing the refereeing decisions of favoring Argentina. Ultimately, Egypt lost the match 3-2.

The Check Engine Light and a Story of Mental Health

Written by space4knews on . Posted in Business.

A Nepali professional working in the United States compared his mental stress to the ‘check engine’ light that appears in a car’s dashboard, using it as a metaphor to recognize his own struggles. Garage owner Tenga openly shared with his friends the emotional pain he endured after his wife left home, as well as the coping mechanisms he adopted to overcome it. Ultimately, Tenga and the Nepali individual acknowledged their inner turmoil and chose counseling and treatment paths for improving their mental health.

“My wife left me, man!” The words slipped easily and naturally from Tenga’s mouth, as if he knew me forever. I was surprised since we had only met that very day. I had come to the garage simply to fix the persistent ‘check engine’ light blinking on the dashboard of my old Toyota Camry—not to hear a stranger’s family story.

Yet, as Tenga bent under the hood, tightening some nut or bolt with his wrench, he began talking. “Ah!” was all I could reply. Our native language has many sweet and sharp expressions to soothe someone’s pain, but in this foreign country’s English, my “Ah!” sounded as dry and flat as stale bread.

The garage was slightly warmer than the biting cold outside. An old electric heater in the left corner hummed loudly. An old radio hanging on the wall softly played a blues song from the 70s, evoking a different era. The smell of burning motor oil, rubber, and the strong aroma of black coffee spilled somewhere in a corner combined to create an odd yet inviting atmosphere in the garage—a place where new visitors rarely lingered long.

Panic Erupts as Russian Attack Hits Coffee Shop in Ukraine

Written by space4knews on . Posted in News.

Video caption begins, People flee in panic following an attack on a nearby coffee shop

Panic-stricken crowd flees after Russian attack on a coffee shop in Ukraine

Published

Scenes of terrified people fleeing after a Russian attack on a coffee shop in the city of Sumy, Ukraine.

The city was targeted with a ‘glide bomb’ strike resulting in the deaths of five people, including a 13-year-old girl. At least 30 others were wounded.

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