Indian Foreign Secretary calls on President, PM

 Kathmandu, Aug. 17

Visiting Indian Foreign Secretary Vikram Misri has called on President Ramchandra Paudel, Prime Minister KP Sharma Oli and Foreign Minister Dr. Arzu Rana Deuba on Sunday.

During Misri's courtesy call on President Paudel at Sheetal Niwas, issues related to bilateral relations and promotion of mutual interest were discussed, according to the President's Office.

While paying a courtesy call on PM Oli, Misri extendd an invitation on behalf of Indian Prime Minister Narendra Modi for an official visit to India. Prime Minister Oli expressed his gratitude for the invitation, PM's Secretariat informed.

Secretary Misri arrived in Kathmandu on Sunday on a two-day official visit to Nepal at the invitation of Foreign Secretary Amrit Bahadur Rai.

Likewise, he paid a call on FM Dr. Rana at the Ministry of Foreign Affairs (MoFA).

During the meeting, the two sides discussed various dimensions of Nepal–India relations, holding talks on matters of mutual interest, bilateral ties, and shared concerns.

FM Dr. Rana's Secretariat informed in a statement that she expressed satisfaction over the recent enhancement of connectivity initiatives between the two countries, as well as the rise in bilateral dialogues, high-level visits, and diplomatic engagements at different levels.

Highlighting the importance of connectivity in strengthening Nepal–India relations, she stressed that enhanced connectivity contributed meaningfully to tourism and economic activities on both sides.

Similarly, FM Dr. Rana emphasised the need to expand air connectivity, in addition to rail and road links, and called for the introduction of more flights from Indian cities to Gautam Buddha International Airport and Pokhara International Airport, along with additional air routes.

"She also underlined the need to create an enabling environment for the resumption of direct Nepalgunj–Delhi flights in the future," read the statement.

Furthermore, Minister Dr Rana urged timely progress in the construction of the Fapla Cricket Stadium in Dhangadhi, being built with Indian assistance.

The Ministry informed that discussions also covered the Nepal–India Transit Treaty, with a focus on trade facilitation. The Foreign Minister raised concerns on issues faced by the Nepali private sector regarding exports of products such as plywood and steel to India, particularly difficulties linked to Bureau of Indian Standards (BIS) and related barriers.

FM Dr. Rana stressed the importance of moving forward with the implementation of the Pancheshwar Multipurpose Project to ensure benefits for both sides, and highlighted the need for joint cooperation in flood and inundation control measures.

Misri's visit will conclude on Monday.  

Published in The Rising Nepal daily on 18 August 2025. 

Neo, JRF sign partnership deal

Kathmandu, Aug. 17

Nepal’s Neo Money Transfer has announced a strategic partnership with JRF Remit, a leading money transfer service in Japan and Korea. Nepalis in Japan and Korea can now send money using the JRF online service.

The company stated on Sunday that this collaboration is designed to provide a seamless, secure, and fast way for Nepalis living abroad to send money home to their families.

By combining JRF Remit's strong presence with Neo's extensive local network, the partnership aims to offer a reliable and efficient remittance experience.

The collaboration represents a significant step toward promoting formal remittance channels, which are crucial for ensuring the safety and security of financial transactions. "This is a major step forward in our mission to provide reliable financial services to our customers. The synergy between JRF Remit's advanced technology and Neo’s strong local presence is expected to streamline the process, ensuring funds are delivered quickly and reliably,” said Sagar Khanal, CEO of Neo.

This new service provides a variety of convenient payout options for recipients in Nepal, including bank deposits, wallet credits, and cash pickup from a widespread network of agent locations. 

Published in The Rising Nepal daily on 18 August 2025. 

Zaap EV launch scooter rental with batter swap facility

Kathmandu, Aug. 16

Zaap EV, a pioneering electric mobility startup described as a comprehensive mobility ecosystem for delivery and ride-sharing, has officially announced its operation.

Zaap EV’s electric scooters, which boast a range of 60 km, will be available for rental at under Rs. 500 per day, making them highly accessible for daily use. The scooters are modular, allowing for easy modification—whether it's adding an extra seat or converting them into goods carriers for delivery purposes.

The service is expected to launch within a month, with plans already in place to scale rapidly. Starting in the Kathmandu Valley, Zaap aims to expand nationwide within the year.

According to Dr. Sudeep Rauniyar, Managing Director of the company, the Zaap ecosystem includes a robust battery-swapping network, with 200 batteries distributed across 30 locations, initially. Users can swap batteries from 6 am to 9 pm, with 24-hour access planned soon to better support gig economy workers with irregular hours.

Looking ahead, the number of electric bikes is set to increase to 400 within a year, as the company expands its footprint beyond Kathmandu.

“The initiative marks a significant step forward in Nepal’s green transport revolution, with a unique focus on empowering women, gig workers, and students,” said dr. Rauniyar.

He described the initiative as Nepal’s first women-focused, sustainability-driven two-wheeler product, designed not only to promote eco-friendly transportation but also to support inclusive economic participation.

“We want to create a bridge between gig workers, women, and students. Our mission is to provide affordable, sustainable mobility while enabling women to become micro-entrepreneurs,” said Dr. Rauniyar.

The company is tying up with an Indian auto manufacturer for chassis and battery products exclusively for it. Users can visit the website of Zaap EV, enroll for membership, and complete their KYC to gain early access to the electric two-wheeler rental service.

Published in The Rising Nepal daily on 19 August 2025. 

Misri to arrive in Kathmandu today

Kathmandu, Aug. 16

Foreign Secretary of India Vikram Misri is coming to Nepal for a two-day official visit from 17 to 18 August.

He is coming here at the invitation of Nepal’s Foreign Secretary Amrit Bahadur Rai, and will arrive in Kathmandu on Sunday.

During the visit, the two Foreign Secretaries will hold discussions on various aspects of the Nepal-India partnership, with a focus on connectivity, development cooperation and other matters of mutual interest, the Ministry of Foreign Affairs (MoFA) informed in a statement on Saturday.

Misri is also scheduled to call on high-level dignitaries of Nepal.

Meanwhile, the Ministry of External Affairs of India said in a statement that the Foreign Secretary's upcoming visit continues the tradition of regular high-level exchanges between the two countries and will be an opportunity to further advance our bilateral ties.

“India and Nepal share strong and friendly ties, which have seen concrete progress in recent years in diverse areas of cooperation. India attaches high priority to its relations with Nepal under its Neighbourhood First policy,” read the statement. 

Published in The Rising Nepal daily on 17 August 2025.

Nepalis die consuming poisonous alcohol in Kuwait

 Kathmandu, Aug. 16

About 35 Nepali citizens were hospitalized in Kuwait after consuming what is believed to be poisonous alcohol, the Nepali Embassy in Kuwait informed on Saturday.

The embassy confirmed that some of these individuals have died but it didn’t mention the number of people who died in the incident.

Many others are in serious condition while some are receiving treatment in stable condition at various hospitals.

Upon learning of the incident, the Ambassador and other embassy staff immediately visited the hospitals to gather information on the condition of the Nepali patients. “The embassy is in continuous contact with the hospitals and officials from the Kuwaiti Ministry of Health to ensure the patients receive proper treatment,” read the statement.

The embassy has offered heartfelt condolences to the families of those who died and wishes a speedy recovery to the patients receiving treatment. It has also requested all to avoid consuming food and beverages that are dangerous and risky to their health, and contact the mission in case of any incident or for inquiries.

Published in The Rising Nepal daily on 17 August 2025.

Social media platforms must come under the ambit of law: PM Oli

 Kathmandu, Aug. 15

Prime Minister KP Sharma Oli said that all social media platforms operating in Nepal must come under the country’s legal framework.

Speaking at the inaugural session of the Digital Nepal Conclave 2025 organised by ICT Foundation Nepal in Lalitpur on Friday, he said that all social media companies must be registered under Nepal’s prevailing laws, pay taxes, and fulfil other obligations.

PM Oli noted that he had already instructed the Ministry of Communications and Information Technology (MoCIT) to bring social media under legal regulation.

“The Government of Nepal must be aware of all types of transactions related to information technology taking place in the country. Any activity conducted in Nepal via social media must comply with national laws, fulfil its obligations, and pay taxes,” the Prime Minister said.

According to him, the government will do whatever is necessary for the development of the IT sector. “The government works for the people and will focus on developing and promoting the technology they want. Investments in IT, both domestic and foreign, can generate income. Move forward with confidence; the government is with the people,” said PM Oli.

Highlighting the rapid growth of information technology, Oli recalled that during his Pushpa Lal Mid-Hill Highway journey in Rukum, he was pleased to learn that elderly residents in remote villages were able to view and download Facebook photos.

The Prime Minister also said that Nepal is well-suited for digital technology and green energy, and should make full use of artificial intelligence for development and prosperity. Citing his government’s online education initiative launched last year for SEE students, which benefited more than 150,000 learners and improved results, he emphasised the need to use mobile technology constructively while protecting children from its negative effects.

He said the government has recently passed an AI policy and is focusing on transforming and modernising IT-related development. He remarked that some people were spreading unwarranted pessimism by ignoring existing progress.

Assuring that his administration remains committed to using IT for stability, good governance, and development, PM Oli said the private sector would be encouraged to participate actively in the field.

 

Google launches Street View in Neal

During the Conclave, Google Maps has announced the launch of Street View in Nepal.

According to the company, with the launch of the service, anyone from anywhere in the world will be able to virtually explore Nepal's amazing landscapes and rich culture through Google Maps' Street View images.

“Now you can stroll through Kathmandu's vibrant streets and alleys. You can explore the serene and beautiful Terai region. You can take a virtual journey on winding roads that offer spectacular views of the majestic snow-capped mountains. All of this is easily possible from your phone or computer,” is said.

This feature will offer the users an opportunity to enter a world of experiences and get a close-up look at Nepal's rich architectural history, ancient temples and palaces, as well as bustling markets and vibrant traditions.

This launch has provided the world with a new and exciting way to experience Nepal, which will help to promote both Nepal's rich cultural heritage and its tourism potential, read a statement from the company.

To see the latest views of Nepal, uses should open Google Maps on their phone or computer, click on the 360° view or the yellow Street View programme. 

Published in The Rising Nepal daily on 16 August 2025.

Thai Embassy to hold an expo

Kathmandu, Aug. 15

The Royal Thai Embassy in Kathmandu, is set to host ‘Journey to Thailand and Top Thai Brands 2025’ in Pulchok, Lalitpur from 29 to 31 August.

The event will be organised in collaboration with the Thai Trade Centre in New Delhi, the Embassy informed at a press meet organised on Friday.

The three-day event will be inaugurated on 29 August, and will be open to the public free of charge from 2 PM to 6 PM on the first day, and from 10 AM to 6 PM on 30 and 31 August.

“Visitors can enjoy a vibrant programme featuring traditional Thai cultural performances, authentic Thai cuisine, a showcase of Thai products, relaxing Thai massages, and complimentary handicraft workshops,” the informed the Embassy.

The event will also provide opportunities to meet representatives from leading Thai businesses, hospitals and universities.

Adding to the excitement, attendees will have the chance to win prizes in raffles, including a grand prize of a round-trip air ticket to Thailand and other attractive gifts.

According to the Embassy, the event aims to bring Thailand and Nepal closer, fostering cultural exchange and strengthening ties between the people of both nations.

Published in The Rising Nepal daily on 16 August 2025.

Digital Nepal Conclave on Friday

 Kathmandu, Aug. 14

The fourth edition of the Digital Nepal Conclave is scheduled to be held on Friday under the theme ‘Empowering Digital Nepal Together’.

Organised by ICT Foundation Nepal, the conclave will be inaugurated by Prime Minister KP Sharma Oli and will feature more than eight sessions and over 50 national and international speakers.

The organiser said in a statement that high-level participation is expected from the government and private sectors, including Deputy Prime Minister and Finance Minister Bishnu Paudel, Minister for Communications and Information Technology Prithvi Subba Gurung, and Nepali Congress General Secretary and Member of Parliament Gagan Thapa, among others.

Sessions at the conclave will cover topics such as digital governance, digital public infrastructure, digital health, digital economy, ICT industry discourse, and power dialogues.

The event will see participation from globally renowned technology companies, including Google. This year, the conclave will also provide a platform for the presentation of research papers, covering eight sectors under the Digital Nepal Framework, as well as showcasing innovative technologies and initiatives (digital initiatives). Organisers said that more than 15 digital initiatives (products) will be showcased during the event.

Over 500 participants are expected, including representatives from federal, provincial, and local governments, policymakers, experts, and entrepreneurs, read the statement.

Published in The Rising Nepal daily on 15 August 2025.

CIT signs pension scheme wih Nerude and Upakar

 Kathmandu, Aug. 13

Nerude Mirmire Microfinance Financial Institution and Upakar Microfinance Financial Institution Limited have joined the Citizens Investment Trust (CIT)’s gratuity and pension scheme. Nerude Microfinance employs around 1,100 staff, and Upakar Microfinance has over 100 employees.

CIT’s scheme allows participation from organised institutions and their employees. Under this arrangement, organisations may manage gratuity funds either on a contributory or non-contributory basis.

In line with this provision, both microfinance institutions have enrolled in the Trust’s gratuity scheme. Previously, National Microfinance had also joined the scheme.

The gratuity and pension scheme, launched by the CIT in 1998, collects and invests funds on behalf of employees and workers from various organised institutions. The accumulated gratuity and pension amounts are then paid to employees upon retirement.

The scheme offers the option of participation through both contributory and non-contributory deposits. At present, it includes 1,150 organised institutions and around 33,000 employees.

Employees who personally participate in the scheme are entitled to housing loan facilities for home purchase, renovation, restructuring, rescheduling, or decoration. In addition, participants can also access simple loan facilities for urgent financial, social, cultural, and family-related needs.

Published in The Rising Nepal daily on 14 August 2025.

Mobility Expo concludes

Kathmandu, Aug. 12

The ‘NAIMA Nepal Mobility Expo 2025’, organised by the Nepal Automobile Importers and Manufacturers Association (NAIMA), concluded on Monday. The expo, which began on August 6, attracted more than 100,000 visitors, informed the organiser.

Speaking at the closing ceremony, NAIMA President Ritu Singh Vaidya said the event had been more successful than expected. “With over 100,000 visitors, sales recorded at every stall, excellent participation in the mobility-related panel discussions, and the energy, ideas, cooperation, and enthusiasm each of you have shown, I feel that Naima has taken Nepal’s mobility sector to a new dimension,” Vaidya said.

NAIMA’s Executive Director, Raj Kumar Dulal, said that during the five days of the expo, NAIMA had organised continuous learning sessions, thereby conveying the message that the association is committed to the overall development of the sector. These sessions, held at Nepal Police Club with free entry for participants, featured renowned experts from both Nepal and India.

Dulal added that the organisation would continue to organise such events in the future with the regular participation of the government, stakeholders, donor agencies, and consumers.

The NAIMA Nepal Mobility Expo 2025 recorded 15,000 visitors on the first day, 13,500 on the second day, 19,500 on the third day, 21,500 on the fourth day, 22,000 on the fifth day, and 7,800 on the sixth day.

The expo featured the participation of more than 50 national and international brands.

PM urged to talk about Nepalgunj-Delhi Flight during his upcoming India visit

Kathmandu, Aug. 11

A request has been made to Prime Minister KP Sharma Oli to take up the matter regarding the operation of a direct Nepalgunj–New Delhi flight with India.

A delegation from the Nepalgunj–Delhi Flight Pressure Group, comprising people’s representatives and industrialists/businesspeople from Banke and Bardiya, met the Prime Minister at his official residence in Baluwatar on Monday and drew his attention to the matter. They also handed over a memorandum to the Prime Minister.

Tanka Dhami, coordinator of the group and President of the Nepalgunj Chamber of Commerce and Industry, said that Prime Minister Oli, upon receiving the memorandum, expressed a positive stance and assured that he would discuss the issue with the Government of India.

On the occasion, Dhami said the Prime Minister had also sought attention to the extension of Nepalgunj Airport’s runway, land conservation, and related works, and that he appeared very positive about the flight. “I will raise this matter with my Indian counterpart. Let us see what response he will give,” Dhami said quoting Prime Minister Oli.

The delegation said that as Nepalgunj Airport had already been upgraded to meet international standards, it was now time to start the service, and they requested action to that end.

According to them, the Nepalgunj–New Delhi direct flight was essential for establishing Nepalgunj as the 'Gateway to Mansarovar' and pointed out that residents of around 25 districts in Sudurpaschim, Karnali, and Lumbini provinces would directly benefit from it.

The airport is capable of serving 600 passengers per hour and that all necessary infrastructure for the flight had already been completed.

Surya Dhakal, Member of the House of Representatives from Banke Constituency 1, who was part of the delegation, said the demand was for the operation of a direct Nepalgunj–New Delhi air service to facilitate air connectivity and promote tourism in 32 districts of western Nepal.

The delegation also met with Foreign Minister Dr. Arzu Rana Deuba, where the latter said that she would make every possible effort to initiate direct flights between Nepalgunj and New Delhi.

“I have already been working to push for this flight for some time. We have placed the Nepalgunj–Delhi flight agenda as a priority. This flight will bring mutual benefits to both Nepal and India, and the more we can enhance connectivity, the more Nepal will benefit. Therefore, I will work towards making this flight happen,” she said, according to a statement issued by her secretariat.

She stated that increased connectivity between Nepal and India would boost tourism, transport, trade, industry, and people-to-people relations, thereby benefiting both sides.

FM Dr. Rana noted that the flight would make a significant contribution to the economy of western Nepal and transform the face of the region. "Nepalgunj already has hotels and other necessary tourism infrastructure in place which make me determined to pursue the Nepalgunj–Delhi flight seriously," she said.

Earlier, on Sunday, the delegation met Tourism Minister Badri Prasad Pandey and urged him for the same. It also organised a large discussion programme at the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) office to deliberate on the proposed service and its benefits.

Published in The Rising Nepal daily on 12 August 2025.

'Peru, Nepal share spiritual traditions'

 Kathmandu, Aug. 10

Javier Manuel Paulinich Velarde, non-resident Ambassador of Peru to Nepal, said that Peru and Nepal share cultural richness and spiritual traditions.

"Although our two nations are separated by vast distances and mountain ranges, Peru and Nepal are united by a deep sense of cultural richness, historical heritage, and profound spiritual traditions that stem from ancient civilisations," he said while speaking at a programme in Kathmandu on Friday to mark the 204^th Anniversary of the independence of Peru.

Machu Picchu in Peru and the Kathmandu Valley are UNESCO World Heritage Sites.

This is the second time the National Day of Peru was celebrated in Nepal. This year, the two nations also celebrate 49 years of diplomatic relations between the two countries.

"Over the years, our countries have fostered friendly and cooperative ties, grounded in mutual respect, non-intervention, peaceful coexistence, and shared multilateral values," said Paulinich while commenting that Nepal's commitment to peace, sustainable development, and climate action aligns closely with Peru's international priorities.

He said that Nepal and Peru should work to tap the potentials. Peru is the world's second-largest exporter of copper and silver, and ranks globally among the top four exporters of zinc, tin, lead, and molybdenum. It is also a major producer of gold and rare earth minerals—essential for clean energy transitions and technologies.

These resources are increasingly relevant to Nepal's own aspirations in renewable energy, infrastructure, and green innovation, said Paulinich.

He appreciated Nepal's global leadership in hydropower, sustainable mountain development, and eco-tourism, which serves as an inspiration for our Andean communities and as a platform for future collaboration.

Speaking on the occasion, Sumit Kumar Agarwal, Honorary Consul of Peru in Nepal, said that the Consulate of Peru in Nepal is looking forward to increased exchanges between the two countries.

"I will focus my energy to foster robust bilateral cooperation between the two countries in the areas of investment, agriculture, tourism, trade and technology transfer also," he said. 

Published in The Rising Nepal daily on 11 August 2025.

PM returns home from LLDC conference in Awaza

Kathmandu, Aug. 9

Prime Minister KP Sharma Oli returned home after participating in the Third United Nations Conference on Landlocked Developing Countries (LLDC3), held from 5 to 8 August in Awaza, Turkmenistan, on Friday.

He reached there leading the Nepali delegation on August 3 upon invitation from the President of Turkmenistan, Serdar Berdimuhamedov, and the UN Secretary-General, António Guterres.

On 5 August, Prime Minister Oli addressed the conference as Chair of the Least Developed Countries (LDCs) group and representative of Nepal, and talked about key challenges faced by landlocked developing countries, including infrastructure deficits, limited market access, dependence on primary product exports, high transport costs, low foreign investment, and adverse impacts of climate change.

He emphasised the need for enhanced cooperation among LLDCs and increased support from development partners.

PM Oli expressed confidence that the Awaza Programme of Action would serve as a milestone in transforming LLDCs from being landlocked to land-linked, transport-dependent to trade-competitive, and climate-vulnerable to climate-resilient countries.

Speaking at various forums and panels, he highlighted Nepal’s efforts in developing smart infrastructure, expanding highways and railways, building trade routes, and establishing green energy corridors to improve cross-border connectivity. He called on neighbouring countries, development partners, and donors to support Nepal’s development efforts.

During the conference, Prime Minister Oli co-chaired the High-Level Thematic Roundtable on ‘Seizing the Transformative Potential of Trade, Trade Facilitation, and Regional Integration for LLDCs,’ where he noted the challenges LLDCs face due to lack of direct sea access and high transport costs. He stressed the need for concrete actions to improve the living standards of over 600 million people in these countries.

Prime Minister Oli also addressed roundtables on ‘Structural Transformation, Diversification, and Science, Technology and Innovation (STI) as Drivers of Prosperity in LLDCs,' urging the use of STI to enhance productivity, resource mobilisation, employment, and integration into global value chains. He called for developed countries to assist in capacity building and technology transfer.

He also highlighted the need to improve LLDCs’ access to climate finance, develop effective adaptation measures, utilise the Loss and Damage Fund, build capacity, and facilitate technology transfer.

Likewise, in the session on infrastructure, connectivity and transits, he underscored the importance of partnerships among transit countries, development partners, and the international community. He highlighted the need for innovative financial mechanisms, technology transfer, and capacity-building tailored to LLDCs’ specific requirements.

Prime Minister Oli stressed that trade and transport connectivity should be taken as key to sustainable cooperation, inclusive prosperity, and regional integration.

He addressed the Ministerial Meeting on South-South Cooperation, emphasising the need to strengthen cooperation among developing countries and expand physical and digital infrastructure at regional level.

On the sidelines, Prime Minister Oli held bilateral meetings with President Serdar Berdimuhamedov of Turkmenistan and Prime Minister Adylbek Kasymaliev of Kyrgyzstan, where issues of mutual interest were discussed.

He also met Rabab Fatima, UN High Representative for LDCs, LLDCs, and Small Island Developing States, to discuss global cooperation for solving LLDC challenges.

Similarly, he held courtesy meetings with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), and Ismail Ersahin, CEO of the World Association of Investment Promotion Agencies (WAIPA), focusing on investment promotion in Nepal’s priority sectors.

PM Oli’s delegation included his spouse Radhika Shakya, Chief Advisor Bishnu Prasad Rimal, lawmaker Surya Bahadur Thapa Kshetri, and senior government officials.

Published in The Rising Nepal daily on 10 August 2025.

FNCCI, Spanish Chamber ED discuss economic cooperation

Kathmandu, Aug. 9

Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a meeting with Imaculada Riera Rene, Executive Director of the Spanish Chamber of Commerce in Kathmandu on Friday.

The discussion focused on economic cooperation, trade, investment, small and medium-sized enterprises (SMEs), and long-term partnerships between Nepal and Spain, the FNCCI said in a statement.

During the meeting, Dhakal highlighted the importance of strengthening Nepal-Spain relations through the private sector. He noted that collaboration with Spain could introduce technology, capital, and experience to Nepal.

According to the statement, Dhakal acknowledged the initial draft of the proposed Memorandum of Understanding (MoU) with the Spanish Chamber of Commerce and confirmed plans for both parties to sign it after a detailed review.

“This proposed MoU covers practical aspects such as trade promotion, investment, market information exchange, delegation support and cooperation among SMEs,” he said. He also mentioned that the MoU would facilitate Spanish businesses’ understanding of Nepal and help Nepali businesses use Spain as a gateway to Europe.

Both sides identified sectors like tourism, infrastructure, hydropower, renewable energy, agricultural processing, and information technology as areas for investment. Rene expressed interest in expanding business cooperation and stated the MoU would enhance coordination between the two private sectors.

Former FNCCI President Chandi Raj Dhakal and FNCCI Treasurer Bharat Raj Acharya attended the meeting.

Published in The Rising Nepal daily on 10 August 2025.

Ncell, WithSecure to partner for security

Kathmandu, Aug. 9

Ncell has partnered with WithSecure, a global cybersecurity provider, to enhance security for its enterprise customers.

Ncell Business will now offer advanced cybersecurity solutions designed to protect businesses from evolving digital threats, the company informed in a statement.

WithSecure’s services cover endpoint protection, detection and response (EDR/XDR), cloud security, vulnerability management, email security, and threat intelligence. These solutions are designed to identify, prevent, and respond to cyber risks before they impact operations.

“Our partnership with WithSecure means our customers get world-class protection for their businesses, so they can focus on growing their business without worrying about any cyber threats,” said Dion Asencio, Chief Enterprise Business Officer of Ncell.

Likewise, Paolo Palumbo, Vice-President of WithSecure, said that they wanted to position themselves as the ‘first choice’ for enterprises seeking to maximise Ncell’s cybersecurity return on investment.

WithSecure operates globally with a European foundation, emphasising regulatory compliance and technological flexibility. Its Elements platform helps consolidate cybersecurity operations and scale with enterprise demands.

This collaboration aims to strengthen the digital security infrastructure for Nepali enterprises by providing comprehensive protection and streamlined management tools, read the statement.

Published in The Rising Nepal daily on 10 August 2025.

Prabhu Insurance to distribute 18% bonus share

Kathmandu, Aug. 8 

Prabhu Insurance Limited has announced the distribution of 18 per cent bonus shares for the last Fiscal Year 2024/25. 

The bonus shares were announced at the company’s 29th Annual General Meeting held in Kathmandu on Friday. 

Despite adverse economic and market conditions, the company achieved its highest-ever profit in the last fiscal year, providing attractive returns to its shareholders, according to Rajendra Malla, Chairperson of Prabhu Insurance. He said that this record profit distribution has reinforced Prabhu Insurance’s position as a stronger and more reliable institution in the market.

According to Malla, the company has been strictly complying with regulatory requirements, while implementing various policy reforms and advancing long-term strategic plans to strengthen internal governance.

Through digital platforms, the company has made the claims settlement process, policy renewals, and other insurance services simpler and more effective, he said. 

Under its corporate social responsibility commitments, the company has prioritised activities that directly engage with society and contribute to the sustainable development of communities such as in health, education, environmental protection, and disaster management.

Published in The Rising Nepal daily on 9 August 2025.

Visa opens office in Nepal

Kathmandu, Aug. 6 

Visa (NYSE: V), a worldwide digital payments company has formally opened its dedicated Nepal office in Kathmandu. 

“The inauguration of Visa’s Nepal office underscores the company’s long-term commitment to supporting the country’s journey toward a cashless economy,” the company said in a statement.

According to it, this strategic move aims to broaden access to digital payments and deliver seamless, secure financial solutions for both consumers and merchants.

Additionally, Visa appointed Manoj Thapa as Head of its Nepal office. “In his new role, Thapa will focus on strengthening local partnerships and accelerating the adoption of secure, innovative digital payments solutions to meet the country’s evolving needs,” read the statement. 

Sabbir Ahmed, Country Manager for Bangladesh, Nepal, and Bhutan at Visa said, “Manoj’s appointment reflects Visa’s ongoing commitment to Nepal as a trusted partner to support the country’s digital transformation.”

Born in Nepal, Manoj has a global outlook shaped by his academic and professional experiences in the UK and India. 

He had served as Head of Partnerships and Innovation at Fonepay, where he led cross-border payment initiatives and forged impactful alliances with international and local financial institutions. Prior to that, as Senior Business Development Manager at LivQuik Technology Pvt Ltd. in India, he successfully led business development efforts that contributed significantly to the company's growth. 

“Visa’s commitment to innovation and secure commerce matches my aspiration to enable a digitally empowered Nepal and I look forward to creating a meaningful impact,” said Thapa. 

Published in The Rising Nepal daily on 7 August 2025.

Nabil receives two awards

Kathmandu, Aug. 8 

Nabil Bank has received two prestigious awards at the Asian Banking and Finance Awards 2025: the ‘Cybersecurity Innovation Award – Nepal’ and ‘Nepal Domestic Project Finance Bank of the Year.’ 

“The Cybersecurity Innovation Award highlights Nabil Bank’s proactive approach to strengthening its digital security framework, ensuring customers enjoy a secure and seamless banking experience in an increasingly complex digital environment,” the bank said in a statement on Friday. 

Simultaneously, the Project Finance Bank of the Year award recognises the Bank’s pivotal role in financing key infrastructure and development projects that are helping to drive economic growth across Nepal.

Nabil’s CEO Manoj Gyawali, said, “These awards are a reflection of the dedication and passion of our entire team, and the enduring trust our customers and stakeholders place in us.” He further said that the bank will continue to innovate and grow, we remain focused on delivering smarter, safer, and more future-ready banking solutions for Nepal.

Nabil has 268 branches and 320 ATM network all over the country.

Published in The Rising Nepal daily on 9 August 2025.

Pokhara launches Energy Plan

Kathmandu, Aug. 6 

Pokhara Metropolitan City has launched its first Municipal Energy Plan (MEP) as a step toward sustainable urban development and clean energy planning. 

The five-year plan to expand energy access, enhance energy efficiency, and promote renewable energy solutions to meet its growing energy demands—while aligning with Nepal’s national energy and climate goals. 

Mayor of Pokhara Dhanaraj Acharya formally unveiled the MEP at a programme on Wednesday. The event was attended by Deputy Executive Director of Alternative Energy Promotion Centre, Dr. Narayan Prasad Adhikari, Senior Energy Specialist of GIZ Nepal, Dr. Narayan P. Chaulagain along with other representatives from the Metropolitan City, GIZ Nepal and private sector.

The MEP was developed by the Energy Development Subcommittee with technical support from REEEP-GREEN project following a comprehensive nine step preparation process that included intensive stakeholder consultations. The plan was formally approved and endorsed by Pokhara Metropolitan City in February 2025, read a statement issued by the stakeholders of the plan. 

With a total budget of Rs. 1.339 billion, the MEP outlines a vision for achieving efficient and sustainable energy for Prosperous Pokhara. 

It has identified key priority areas such as increasing the generation and use of clean, efficient renewable energy at the household level, promoting transition from conventional and imported fuels to locally available renewable sources, enhancing energy efficiency in commercial and industrial sectors while reducing Green House Gas (GHG) emissions, and raising public awareness through policy initiatives and educational campaigns. 

Speaking at the event, Mayor Acharya reaffirmed the city’s strong commitment to implementing the plan in close collaboration with all stakeholders. He emphasised its critical role in advancing Pokhara’s journey toward a greener, more resilient, and energy-smart future. Acharya also highlighted the importance of effective coordination amongst all three tiers of government to ensure the successful implementation of such ambitious initiatives.

REEEP-GREEN is a joint initiative financed by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ). The project is implemented by GIZ and its partners, the Ministry of Energy, Water Resources, and Irrigation (MoEWRI) and AEPC. 

Published in The Rising Nepal daily on 7 August 2025.

PM stresses connectivity, transit and infrastructure for LLDCs

Kathmandu, Aug. 6 

Prime Minister KP Sharma Oli said that to deepen the South-South cooperation for the successful implementation of the Awaza Programm of Action, the partners must harness South-South and triangular cooperation to promote regional integration by investing in resilient physical and digital infrastructure.

Likewise, they must work collectively to develop trade and transit corridors, modernise infrastructure, and harmonise customs procedures to enhance cross border trade and investment.

“It is critical to establish the Infrastructure Investment Facility for Landlocked Developing Countries (LLDCs), enabling us to finance priority development projects. We must also embrace and accelerate digital transformation to participate meaningfully in the global digital economy,” said PM Oli while speaking at the opening of the Ministerial Meeting on South-South Cooperation at the third United Nations Conference on Landlocked Developing Countries in Awaza of Turkmenistan on Wednesday.

He urged the LLDCs to seize this moment to reinvigorate South-South cooperation as a dynamic force for shared progress while stressing the urgency of the need. 

He said that while geography should never limit human ambition—especially in today’s interconnected and technologically advanced world, for LLDCs, geographical constraints remain a significant structural barrier to progress.

According to PM Oli, a confluence of global crises – geopolitical tensions, food and energy security, rising inflation, and shrinking fiscal space has further intensified the challenges for the LLDCs. 

“In the face of these compounding pressures, LLDCs are striving to mobilise domestic resources, attract foreign investment, and secure development assistance. But progress is faltering: Official Development Assistance and Foreign Direct Investment flows to LLDCs are on a persistent decline,” said PM Oli. 

According to his speech delivered at the meeting sent to the media by the PM’s secretariat, most often, development cooperation is misaligned with national priorities, limiting its long-term impact while the accelerating impacts of climate change continue to disproportionately erode the hard-won development gains of LLDCs.

PM Oli said that in an endeavour in structural transformation, South-South Cooperation can be instrumental to support LLDCs.

“Rooted in solidarity, mutual respect, and shared ownership, South-South Cooperation promotes peer learning, capacity development, and technology transfer tailored to the unique needs and aspirations of LLDCs—helping to build a more equitable and inclusive growth,” he said. 

Likewise, speaking at ‘High-Level Thematic Roundtable 2: Seizing the Transformative Potential of Trade, Trade Facilitation, and Regional Integration for LLCs’, PM Oli said that trade is a powerful engine of economic growth in the interconnected and interdependent world. 

“Trade can significantly contribute to socio-economic development of LLDCs, like others. But, despite their huge trade potential, LLDCs account for just over one percent of global trade in goods,” he maintained. 

Stating that with sincere implementation of these measures, LLDCs can harness their trade potentials for inclusive and sustainable development, PM Oli said that the countries need to strengthen cooperation and partnership at bilateral, regional and multilateral levels to achieve it.

Meanwhile, Executive Director of the World Association of Investment Promotion Agencies (WAIPA), Ismail Ersahin, paid a courtesy call on Prime Minister KP Sharma Oli on the sideliens of the conference on Wednesday.

Published in The Rising Nepal daily on 7 August 2025.

LLDCs face multiple barriers: PM

Kathmandu, Aug. 5

Prime Minister KP Sharma Oli has said that the Landlocked Developing Countries (LLDCs) continue to face persistent structural barriers including geographical isolation, dependency on transit countries, inadequate transport networks and limited integration into regional and global markets.

"These challenges are even more acute for half of the LLDCs that are also LDCs. Their very geography of 'landlockedness' continues to hinder their development," he said while speaking at the third United Nations Conference on Landlocked Developing Countries in Awaza of Turkmenistan on Tuesday. 

According to him, despite two decades of journey from Almaty to Vienna Programme of Action, LLDCs still grapple with infrastructure and connectivity deficits, high trade and transit costs, limited diversification and little value addition, heavy reliance on primary commodity exports, and low levels of private investment. 

These barriers, also including growing vulnerability to climate change and disasters, pose severe impediments to their economic growth and development, said PM Oli.  

However, he said that the LLDCs are not only defined by their inherent geographical constraints but also by their potentials like untapped natural endowments and opportunities in investment.

They are home to youthful and innovative populations. They are increasingly engaging in the digital economy.

"This is the moment to unlock that potential. But we need stronger political will, renewed and strengthened global partnership that leaves no country behind, and coordinated actions at all levels," he said. 

PM Oli also expressed his belief that with the right policies, strong solidarity and support, LLDCs can transition from landlocked to land-linked, from transit-dependent to trade-competitive, and from climate-vulnerable to climate-resilient countries. 

The conference announced the Awaza Programme of Action with priorities in structural transformation and technological innovation, trade facilitation and regional integration, transit, transport and connectivity, climate resilience and adaptation, and means of implementation. 

Mentioning these priorities, PM Oli said that while the conference was a call to collective resolve, the PoA was the pathway to equity, inclusion and shared opportunities. 

He urged the LLDCs to invest in smart, sustainable and climate-resilient infrastructure, deepen regional and sub-regional cooperation, harness technology to advance and accelerate development and drive progress through inclusive global partnership with shared responsibility to turn isolation into integration and potential into prosperity. 

PM Oli also informed the international community that as an LLDC, Nepal has been facing high transport costs, limited regional integration and inadequate infrastructure. However, the country is investing in highways and railways, cross-border trade routes, digital corridors and green partnerships to transform Nepal from a landlocked to a land-linked country. 

"We are working closely with our neighbours, India and China, to enhance connectivity and integration across multiple domains. With strengthened partnerships, smart investments and unwavering collective will, we can overcome limitations of landlockedness and ensure economic prosperity to our people," said PM Oli.

Published in The Rising Nepal daily on 6 August 2025.

CDSC pushes for dual ISIN system to curb promoter shares misuse in stock market

Kathmandu, Aug. 3 

The CDS and Clearing (CDSC) Limited is on the final stage to implement dual International Securities Identification Numbers (ISINs) to separate the promoter shares and public shares of the companies listed at the stock exchange to protect the interest of the investors. 

With the implementation of the new rules, the promoters can't sell their shares before the conclusion of the lock-in period. Currently, some companies allegedly in hydropower sector are trading promotor shares by merging them with public shares before the end of the lock-in period. 

The newly proposed Share Dematerialisation Directive 2025, which is already endorsed by the CDSC board, seeks to assign separate ISINs and NEPSE trading codes to promoter and public shares of listed companies. This change targets the widespread malpractice where promoters have allegedly sold locked-in shares illegally in the secondary market under a single ISIN, misleading retail investors.

The CDSC has forwarded the directives to the Securities Board of Nepal (SEBON) for final approval.

Once the Directive is implemented, such practices will be blocked, ensuring that lock-in founder shares cannot be traded until the expiry of their restricted period, typically three years.

An ISIN is a unique 12-digit alphanumeric code assigned to the securities – such as shares, debentures and bonds – when they are registered with the depository system such as CDSC in Nepal.

Application of the ISIN will not only create clear differentiation between the promotor and public share but also make it easy to track and analyse trading activity and ownership patterns for both the types of shares thus creating enhanced transparency. 

It will also lead to price differences between promoter and public shares with chances for price hike in public shares since they make a small share – mostly 30 per cent of the total investment in a company. 

However, the dual ISIN system can cause a decline in government revenue due to potential market contraction. 

In a letter to the CDSC on July 28, Nepal Sharemarket Investors Association said that there were examples of promoters shares being traded during lock-in period. "Due to single ISIN number, promoters shares were also traded in bulk while the general investors are confused and sometimes cheated, and the stock market has witnessed an unusual decline due to the supply of securities in a large quantity," read the letter. 

The Association noted that although the countries in the South Asian region have been practicing single ISIN number, they have a strong monitoring and regulatory system. If Nepal could implement the restriction to trade the promoters shares during the lock-in period effectively, single ISIN with flagging code number can also be effective, according to it. 

"Given the current practice and regulatory system, dual ISIN system is appropriate in case of Nepal. We hope that the guidelines created by the CDSC would include this provision," said the Association. 

Likewise, capital market experts have also welcomed the initiative, viewing it as a crucial step in purifying Nepal’s share market. According to them, dual ISINs will prevent price manipulation, protect ordinary investors, and enhance transparency. The separation will ensure that founder shares cannot be disguised and offloaded as ordinary shares during lock-in, addressing one of the key sources of investor distrust.

Managing Director and Chief Executive of the CDSC, Prabin Pandak, said that the newly proposed rules are to apply uniform provisions for all types of companies and shares and to protect the investors interest while also checking the practice of arbitrary decisions of the CDSC itself. 

CDSC statistics are full of differentiated decisions for various companies with some companies having single ISIN and some two while some have already mixed them. 

Pandak said that the move has come after 15 years of regulatory inertia, despite the Central Depository Services Regulation of 2067 mandating the formulation of such procedures. 

However, the directive has faced strong opposition from certain business groups including the Independent Power Producers’ Association of Nepal (IPPAN) and the Nepal Chamber of Commerce. They argued that dual ISINs conflict with the Company Act and international practices, and claimed that it may reduce market liquidity by limiting the supply of tradable shares during the lock-in period, potentially pushing prices upward.

But a share broker said that dual ISINs are already used in Nepal’s banking, insurance, and hospitality sectors. He rejected the claims that the reform will deter foreign investment. 

"On the contrary, a cleaner, rule-based market is more likely to inspire investor confidence. The directive is expected to curb misuse of the conversion process, where some founders have previously bypassed regulations to liquidate shares and exit at the expense of ordinary investors," he said.

The proposed Directive also has a provision to converge the securities with different ISINs for which the respective company's general assembly should decide about it, notice about it should be published in a national paper twice, information should be given to the securities market and obtain approval of the SEBON. 

Published in The Rising Nepal daily on 4 August 2025.