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

Govt extends suspension on domestic, international flights until Sept 16

The government has decided to extend the ongoing suspension on domestic as well as international flights until September 16.

Government Spokesperson Dr Yubaraj Khatiwada said that the government has also extended the suspension on inter-district transportation until September 1.

Likewise, the government has decided to open only 10 out of the 20 designated entry points to the country from India.

This means that the government has reduced 10 entry points from the designated ones. A meeting of the cabinet held on Monday decided to block 10 entry points for people to enter the country via land route.

Government Spokesperson Dr Yubaraj Khatiwada said people will be allowed entry from 10 points including Kakarvitta, Rani, Madar, Gaur, Birgunj, Belahiya, Krishnanagar, Jamunaha, Gaurifanta and Gaddachauki entry points.

Nepse up 4.14 points in first one hour

Nepal Stock Exchange (Nepse) went up by 4.14 points in the first one hour on Tuesday. The bench mark index, which started from 1,433.36 points increased by 0.29 percent to reach 1,434.55 points.

Out of 12 groups, the index of trade, hotels, hydropower, microfinance and mutual fund went down while the index of other seven groups climbed up.

As many as 172 companies, in the first hour, witnessed a transaction of 9 million units of shares worth Rs 329,000,000. Nepal Reinsurance Company Ltd. has made the highest transaction of Rs 36.4 million (with Rs 597 per unit of share) during the period.

Similarly, Ajod Insurance Ltd. made the second highest transaction of 24.1 million with Rs 554 per unit of shares.

Restaurants allowed providing only takeaways, home delivery services

The government has decided not to allow the operation of hotels and restaurants.

The government decided not to allow hotels and restaurants to operate, but to allow takeaways and home delivery services only.

Earlier, the government had decided to allow the opening of hotels and restaurants. However, the decision to close the hotel and restaurant was taken due to failure in the implementation of the health protocols, said Finance and Communication and Information Technology Minister Dr. Yubaraj Khatiwada.

Shops, except essential ones in Tripureshwor and Teku shut down

The wards 12 and 21 of Kathmandu Metropolitan City (KMC) have decided to shut down all shops, except those providing essential services like water, food and medicine, in Tripureshwor and Teku area. Issuing a notice, the ward authorities have instructed all concerned to shut down all shops and businesses citing the increasing number of cases in those areas.

The area from Tripureshwor to Teku lies in Ward No. 12 and Lagantol lies in Ward No. 21 of KMC.

After Monday’s directives, only the shops selling the most essential goods and supplies like medicine, food and water can remain open in these areas. Groceries will, however, remain open till 10 am and 5-8 pm in the evening.

Siddhartha Bank to issue debenture

Siddhartha Bank had on August 2 submitted an application to the Securities Board of Nepal (SEBON) to issue debenture.

The company had filed an application at the regulatory body SEBON to issue three million units of debentures. NMB Capital Limited has been assigned with the responsibility of issue manager.

Out of 3 million units of debentures, 1.2 million has been allocated for general public while the remaining 1.8 units of debentures will be financed privately.

Govt spends Rs 9.16 billion in COVID-19 response

The government has spent around Rs 9.16 billion in its effort to combat the COVID-19 pandemic until the end of the last fiscal year, the Ministry of Finance has said.

This, however, includes the budget allocated to provincial and local governments for combating the coronavirus.

According to the Ministry, the three tiers of the government apportioned Rs 7.13 billion for the coronavirus response in this period.

Likewise, the COVID-19 fund of the federal government released a total of Rs 630 million for the same. Similarly, the Finance Ministry approved an additional budget of Rs 1.37 billion to procure medical supplies.

(Compiled and prepared by 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.