Nepal Economic Digest (March 11, 2020) « Khabarhub
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Nepal Economic Digest (March 11, 2020)

11 March 2020  

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KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Himalaya Airlines suspends flight services to Doha

Nepal’s private airlines providing international flight services, Himalaya Airlines, has suspended flights to Qatar’s Doha till the next notice.

The decision to this effect has been made following the Qatar government’s decision to restrict the entry of Nepali citizens among 14 countries that are at a high risk of coronavirus spread.

The airline company said that customers who have already bought tickets for the flights will be refunded.

Dharahara reconstruction gains momentum

The reconstruction of historical Dharahara devastated by the 2015 Gorkha earthquake has gained momentum in a way to complete it by mid-September 2020.

Rajuman Manandhar, a heritage expert of the National Reconstruction Authority (NRA), informed that almost 33 percent of works have been so far completed.

A total of Rs 850 million has been spent so far, Manandhar said. The reconstruction contract was awarded to Raman Construction with the deadline for accomplishing it in two years.

A total of Rs 3.48 billion has been estimated to be spent to reconstruct the Dharahara.

Double circuit breaker as Nepse nosedives
The Nepal Stock Exchange (Nepse) has taken a nosedive on Tuesday, the second trading day of the week.

The benchmark index went down by four percent in less than an hour after the opening of the transaction, prompting a circuit breaker.

The Nepse which resumed after 20 minutes was forced to shut down for the second time again after it witnessed a fall by 5 percent in the period of 10 minutes at 12:30 pm. The Nepse plummeted by 57.36 points in the first one hour and by 72 points in the second time at 12:30 pm.

Nepse resumed today after remaining shut for four days.

NAC suspends flights to Qatar
The national flag carrier Nepal Airlines Corporation (NAC) has suspended its scheduled flights to Doha, Qatar.

The decision comes on the heels of a suspension imposed by the Qatari government on the entry of citizens from 14 countries including Nepal following an outbreak of COVID-19. Issuing a notice on Sunday, the Qatar government decided to bar the foreigners from China, Egypt, India, Iran, Iraq, Nepal Lebanon, Bangladesh, Pakistan, Philippines, South Korea, Sri Lanka, Syria, and Thailand visiting the country.

Contractor agrees to expedite Chilime-Trishuli transmission line work
The contractor of the Chilime-Trishuli 220 kV Transmission Line Project has agreed to expedite works by adding workers.

This agreement came after a discussion between Nepal Electricity Authority (NEA), project office, contractor and consultant company in Nuwakot.

The said project is key to evacuate electricity generated by different projects in the Trishuli corridor.

(Compiled and prepared by Swastik Aryal and Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries. The Institute for Strategic and Socio-Economic Research (ISSR), Nepal’s independent think tank, and Khabarhub — Nepal popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.

Publish Date : 11 March 2020 08:39 AM

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