ICYMI: Here are our top stories from Monday, September 23Here are some of the top stories from The Kathmandu Post (September 23, 2019).
Here are some of the top stories from The Kathmandu Post (September 23, 2019).
Ruling party holds hours-long discussion to build a concrete position on Indo-Pacific Strategy
As the debate over whether Nepal is part of the Indo-Pacific Strategy continues, the ruling Nepal Communist Party has been holding internal consultations to build a position on the Washington-led initiative, just ahead of a joint training with the Communist Party of China.
Multiple leaders told the Post that NCP’s foreign affairs department held a closed-door “consultation and brainstorming” session on Thursday among its top leaders and some analysts at the party headquarters in Paris Danda for almost four hours.
Foreign exchange reserves decline for the first time in 10 years, reducing import ability by half
For the first time in 10 years, Nepal’s foreign reserves have declined and the ability to import goods and services has dwindled by nearly half in four years, leading to fears about the country’s economic health.
In the fiscal year 2015-16, even when suffering under a blockade, Nepal had foreign exchange reserves sufficient to import goods for 14.1 months. By the fiscal year 2018-19, that reserve had shrunk to Rs 1039.91 billion, just enough to import goods for 7.8 months. This has not only placed the country’s economy in a risky situation but is also likely to deter foreign investment as investors seek assurances of profit repatriation, according to economists.
Third round of Nepal-India trade talks scheduled for Thursday
Nepali and Indian officials will be sitting for the third round of talks to review the bilateral treaty of trade in New Delhi on Thursday.
According to the Ministry of Industry, Commerce and Supplies, the two-day meeting will focus on simplifying the existing barriers to bilateral trade. An amendment is also being made to allow Nepal to use transit points on Indian territory for trade with third countries.
When Kathmandu gets hungry at late night, this delivery service comes to rescue
When hunger pangs strike with a vengeance and the wallet is empty, a business plan is probably the last thing that would germinate in the recesses of one’s mind.
But Abhishek Gurung clearly sees and does things differently than the rest.
When a student, Gurung’s stomach regularly growled late at night for want of adequate food. Cooking for him was out of the question and there were hardly any restaurants open at that unearthly hour to satiate his hunger.
The lack of night restaurants in Kathmandu prompted Gurung and co-founder Shejey Agyitsang to start Bhok Lagyo, an online night food delivery services provider.
Rs5 billion international terminal to be built at Bhairahawa airport
The government is likely to receive Rs5 billion in financing from the Asian Development Bank for the construction of a state-of-the-art international terminal building at Gautam Buddha International Airport in Bhairahawa, said project officials.
The terminal currently being built has been deemed too small for an international terminal, and will be repurposed for domestic flights. The 15,000-square metre building, which is in the final stage of completion, has only six parking bays and lacks an aerobridge.