Nepal – TheNewsHub https://thenewshub.in Wed, 02 Oct 2024 15:14:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 World Bank Expects 5.1% Growth For Nepal https://thenewshub.in/2024/10/02/world-bank-expects-5-1-growth-for-nepal/ https://thenewshub.in/2024/10/02/world-bank-expects-5-1-growth-for-nepal/?noamp=mobile#respond Wed, 02 Oct 2024 15:14:00 +0000 https://thenewshub.in/2024/10/02/world-bank-expects-5-1-growth-for-nepal/

New Delhi: The World Bank on Wednesday projected a growth of 5.1 per cent for Nepal in the current 2024-25 fiscal year starting in mid-July, below the Nepali government’s 6 per cent target. Growing tourist arrivals, more hydropower generation and expected growth in paddy production shall contribute more to Nepal’s gross domestic product, the bank said in its Nepal Development Update report.

The South Asian country achieved a growth of 3.9 per cent in 2023-24, noted the international financial institution. The bank is expecting Nepal’s private sector to contribute more to its growth by taking advantage of the central bank’s loosening of monetary policies and easing of regulatory requirements, Xinhua news agency reported.

It has projected Nepal’s economy to grow by 5.5 per cent in the next fiscal year. In its report released last week, the Asian Development Bank forecast a 4.9-percent growth for Nepal in 2024-25. “Maintaining growth momentum is key to Nepal’s development,” said David Sislen, the World Bank’s Country Director for the Maldives, Nepal and Sri Lanka.

“This requires continued reform in critical areas such as infrastructure, governance, human capital development and developing an environment which encourages and supports the private sector,” Sislen was quoted as saying in a statement.

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Rescuers search for missing people in Nepal as death toll due to floods climb to 224 https://thenewshub.in/2024/10/01/rescuers-search-for-missing-people-in-nepal-as-death-toll-due-to-floods-climb-to-224/ https://thenewshub.in/2024/10/01/rescuers-search-for-missing-people-in-nepal-as-death-toll-due-to-floods-climb-to-224/?noamp=mobile#respond Tue, 01 Oct 2024 13:31:29 +0000 https://thenewshub.in/2024/10/01/rescuers-search-for-missing-people-in-nepal-as-death-toll-due-to-floods-climb-to-224/

The disaster struck Himalayan nation just before Dasain, the country’s most significant festival, which starts on Thursday.

The search for the missing and the recovery of the deceased continued in Nepal on Tuesday, following the devastating floods and landslides that claimed more than 200 lives over the weekend.
The death toll has risen to 224, with 158 injured and 24 others still unaccounted for as rescue efforts continue, according to Eak Narayan Aryal, the government’s chief secretary.Aryal also said that the flooding had damaged 16 hydroelectric power plants, resulting in decrease in Nepal’s electricity production, while additional 18 projects under construction were also affected.
The disaster struck Himalayan nation just before Dasain, the country’s most significant festival, which starts on Thursday.
Prime Minister Khadga Prasad Oli‘s government has faced severe criticism for its slow response to the crisis, especially after a landslide hit several vehicles stranded for hours just 16 kilometers (10 miles) from the capital, Kathmandu, resulting in the deaths of approximately three dozen people.
Oli said that the government would continue to look for those missing and help the thousands impacted. “We were prepared for a disaster but could not predict it would be of this big scale,” he said.
As weather improved slightly, workers began clearing the highways that had been blocked by landslides. However, sections of several other highways adjacent to raging rivers were washed away, and repairs are expected to be time-consuming and challenging. Only nine out of the 37 damaged highways have been reopened for traffic so far.
The flooding was caused by heavy rain that arrived at the end of Nepal’s monsoon season, which typically begins in June and ends by mid-September.



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Film city https://thenewshub.in/2012/12/31/film-city/ https://thenewshub.in/2012/12/31/film-city/?noamp=mobile#respond Mon, 31 Dec 2012 07:51:26 +0000 https://thenewshub.in/2012/12/31/film-city/

Western and eastern filmmakers like Bernardo Bertolucci are flocking to the Himalayan kingdom to shoot their films

Still from Story of Zen Master

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Banking on buddhism https://thenewshub.in/2012/12/31/banking-on-buddhism/ https://thenewshub.in/2012/12/31/banking-on-buddhism/?noamp=mobile#respond Mon, 31 Dec 2012 06:36:28 +0000 https://thenewshub.in/2012/12/31/banking-on-buddhism/

The Italian filmmaker’s 500-strong European crew is expected to create a much needed cash flow in the Himalayan kingdom.

Bertolucci

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