City Kathmandu Financial News

Track our LIVE coverage of the natural disaster here Notably, the mountainous country is often hit by tremors, with the last major incident occurring in 2015 and killing 9,000 people. Local historical sites and temples were destroyed in the 2015 Nepal earthquake, besides entire towns and over a million houses being razed to the ground, Reuters reported. The event cost the Nepal economy $6 billion, it added.

Jajarkot district at midnight on Friday, resulted in a tragic death toll of at least 128 people. Reports from state-run Nepal Television indicate that in Western Nepal, specifically Jajarkot and Rukum districts, the earthquake claimed the lives of 80 individuals and left more than 140 people injured. The epicenter of this seismic event was located in Lamidanda within Jajarkot district.

Associated Press. Officials added that the toll was expected to rise, noting that communications were cut off with many places. According to the US Geological Survey, the earthquake occurred at a depth of 11 miles and had a preliminary magnitude of 5.6.

Australia has too many brewers and more beer makers will hit the wall financially, predicts the boss of Konvoy Kegs, which rents kegs to 600 brewers in Australia and Asia and just raised $13 million to fund expansion into the United Kingdom and Ireland.

Israel arrived back in Kathmandu in the wee hours of Friday, the Government of Nepal has announced to make further arrangements to bring back citizens from Israel. A Nepal Airlines wide-body aircraft, which flew to Tel Aviv on Thursday morning to bring back the Nepali students, landed in Kathmandu at around 3 am (Local Time) on Friday. Leading the rescue mission, NP Saud, Minister of Foreign Affairs of the Himalayan Nation announced the arrival of 254 students in the first batch of evacuation while 249 still wait back in Israel for airlift. «The Nepal Embassy in Tel Aviv had earlier registered Nepali citizens who wanted to be located in safer areas and those wanting to return back to Nepal. Till now a total of 557 Nepali citizens have registered themselves, of which 503 wanted to return to Nepal and of them a total of 254 students have been evacuated under the first phase of evacuation efforts,» said Saud while addressing media persons here at the airport on Friday morning. «Currently in Tel Aviv commercial flights are commencing on a daily basis.

KMD Brands, which owns the Kathmandu outdoor clothing brand and surfwear business Rip Curl, says overall sales slipped by 6.4 per cent in August as households cut back on spending and warm weather reduced demand for puffer jackets.

India, explicitly warning the ambassador to be more careful while commenting on sensitive matters of other nations. While speaking at an event titled 'China in Global Economy and its Impact in Nepal' on Saturday, Chinese Ambassador to Nepal Chen Song claimed that Nepal was facing a trade deficit from electricity trade with India. «Unfortunately, you have a neighbour like India, but fortunately you have a neighbour like India because India is a huge market with huge potential you can tap into. But at the same time, India's policy towards Nepal and other neighbours is not so friendly and is not so beneficial to Nepal.

Bhairahawa to Delhi and Hong Kong, making Kathmandu a transit point. The ticket booking for the same has already started, according to Nepal Airlines spokesperson Ramesh Paudel. In the beginning, there will be Bhairahawa-Hong Kong and Bhairahawa-Delhi flights via Kathmandu every Tuesday.

Mint in an exclusive interview. “Earlier, the Indian airports were merely destination airports, but today we find a rising trend of people flying from one part of the world and come to Delhi, Mumbai, Hyderabad, and Kolkata, and take another onward flight without really exiting into any Indian city. That trend is increasing," Vinay Malhotra, head of global sales at IndiGo, said.

Prachanda's China visit in September could result in a power trading agreement on the lines of the Himalayan nation's cross-border power trading agreement with India, signalling a balancing act by the former Maoist leader. Nepal wants to develop a cross-border transmission line with China via the border district of Rasuwa, which is expected to be signed during Prachanda's visit, according to Kathmandu-based sources. Nepal also wants to learn best practices in agriculture from China while simultaneously engaging with India in the same sector, according to one of sources quoted above.

Police have arrested an MP from Nepal who purchased fake degrees from Bihar and used it to pursue higher education in China. In a report by the Hindustan Times, Nepal lawmaker Sunil Kumar Sharma has been arrested on charges of forging educational certificates. He reportedly bought a higher secondary academic degree from Bihar and used it to pursue higher studies in China.

Seema Haider's husband reiterates plea for her to return, says ‘still love you’ Haider had entered India via Nepal, even staying with her partner for a week in a Kathmandu hotel. According to an ANI report the duo had stayed in the hotel under false names for about seven or eight days in March this year.

Sports and outdoor goods seller KMD Brands, the company behind Kathmandu and Rip Curl, has joined Adairs, Super Retail and Domino’s Pizza in warning of a consumer slowdown which has dampened June quarter trading.

Sita Dahal, the wife of Prime Minister Pushpa Kamal Dahal passed away on Wednesday morning after suffering a cardiac arrest, according to authorities of the private hospital in Kathmandu where she was admitted. Sita Dahal was suffering from progressive supranuclear palsy (PSP), a rare neurological disorder, the hospital announced. She died at 8:33 am according to a statement by the Norvic International Hospital.

A private commercial helicopter with six people aboard including five Mexican nationals that went missing near the Mount Everest area in Nepal on Tuesday has crashed in a hilly terrain in the country’s eastern region, officials said. The Manang Air NA-MV chopper took off from Surke Airport in Solukhumbu district at 10:04 am for Kathmandu and suddenly lost contact at an altitude above 12,000 feet at 10:13 am, said Gyanendra Bhul, Manager at Tribhuvan International Airport (TIA).

Nepal, where six people were killed in a helicopter crash on Tuesday, has a history of deadly air crashes. Below are details of plane and helicopter crashes this century in the Himalayan country, where several airlines fly to small airports in remote hills and mountains shrouded in clouds and cut off from roads.

Mount Everest in Nepal on Tuesday, aviation authorities said. According to Tribhuvan International Airport General Manager Pratap Babu Tiwari, the chopper, with call sign 9N-AMV, went contactless 15 minutes into the flight.

Gautam Budh Nagar police arrested Haider on 4 July for illegally entering India without a visa via Nepal with her four children -- all aged below seven years. Besides, her Indian husband Sachin and father-in-law were arrested for sheltering the illegal immigrant. However, on Saturday, the Uttar Pradesh court granted bail to the couple who were behind bars for five days at Luksar jail.

India have agreed to hold a meeting of experts to «iron out the differences» and finalise the detailed project report of the much-awaited 6,480 megawatt Pancheshwar Multipurpose bi-national power plant to be developed on the bordering Mahakali river, according to a media report on Saturday. The understanding was reached during a meeting of the governing council of the Pancheshwar Development Authority held in Pokhara in Nepal on Thursday and Friday, The Kathmandu Post newspaper reported.

French serial killer Charles Sobhraj was freed from prison in Nepal on Friday after serving most of his sentence for the murders of Western backpackers.