Nepal Economic Digest (Sept 26, 2020)

Khabarhub

September 26, 2020

6 MIN READ

Nepal Economic Digest (Sept 26, 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.

Nepse closes week on a positive note

Nepal Stock Exchange (Nepse) index opened in a green note on the last trading day of the week.

After trading around 10 points higher momentarily in the morning, the Nepse index witnessed a sharp pullback to trade around the preceding day’s closing.

Thereafter, the equity market continues to hang around the previous day’s closing in most of the trading session.

At the last trading hour, the market moved toward positive territory to close the day at 1561.27 points – up by 5.74 points.

While the equity market ends the trading below its opening, the overall market sentiment still remains positive.

Compared to the day earlier, the trading volume rose by 29.27%. Total turnover remained upbeat with more than Rs 2.23 billion worth of shares being traded on the day.

Sub-indices closed the day on either side of the spectrum. Trading sectors rose 6.95% followed by the Hydropower index which added 4.49%.

Hotels and Finance sub-indices advanced 1.29% and 1.01%, respectively. The sub-index of Banking and Others indices also saw meager gains.

Tourism ministry for two-day holiday per week to promote domestic tourism

The Ministry of Culture, Tourism and Civil Aviation is proposing a two-day holiday a week plan for the promotion of domestic tourism in the country.

The ministry will make the proposal to the Council of Ministers. A high-level meeting chaired by Minister for Tourism, Yogesh Bhattarai decided to submit the proposal to the Council of Ministers after forming a task force and studying about the proposed issue.

A committee has been formed under the coordination of joint secretary at the ministry and chief of the Tourism Division, Pradip Kumar Koirala, which includes Rudra Singh Tamang, director general at the Department of Tourism and Dhananjay Regmi, CEO of Nepal Tourism Board (NTB).

The committee will also include representatives from the Ministry of Finance and Ministry of General Administration to carry out a study for the proposal.

The meeting has also decided to prepare a joint program of the ministry, tourism department and NTB to make the tourism resurgence program effective.

The proposal then will be submitted to the Council of Ministers.

Energy minister directs NEA to address power outage problem

Minister for Energy, Water Resources and Irrigation, Barshaman Pun has directed Nepal Electricity Authority (NEA) to immediately address the problem in power supply.

Of late, frequent power outages have been reported in different places of the country due to bad weather.

Calling NEA’s officiating Managing Director Lekhanath Koirala and other executives for a meeting, the minister has asked them to immediately resolve the issue of power outage.

He has asked Koirala to do the needful to solve the problem. “The general public is our customers. So, immediately address the concerns of our customers,” he said, “We should not take the complaints negatively and work in a way to address their concern as soon as possible as it is their right to get regular electricity supply.”

He further said that some people have started linking the power outage problem with the vacant position of NEA’s managing director and that such people needed to be answered through action.

Vivo launches Y20 smartphone with massive battery, AI triple macro camera in Nepal

Vivo, the leading global smartphone brand, has announced the launch of its latest mid-range smartphone, Y20, in the Nepal market exclusively via Daraz.

Powered by a massive 5000 mAh battery, Y20 comes with an AI Triple macro camera setup (13MP+2MP+2MP) and multiple camera features including macro & bokeh camera and selfie features to seamlessly capture the moments of your life with enough detail and perfection.

The key highlight of Vivo Y20 is its long-lasting battery life complemented by AI power-saving technology, which also supports reverse charging.

Y20 also features a Side-Mounted Fingerprint Scanner, this clever new design unlocks your phone in a split second.

Vivo’s youth-oriented Y series is known for its innovative technologies and elegant design that support the day-to-day lives of the tech-savvy young audience.

Keeping its commitment towards customer-centric designs and innovation, the newly launched Vivo Y20 is a lightweight, sleek, and perfectly polished smartphone with an ergonomic 2.5D elegant body.

It comes in two eye-popping color options – Obsidian Black and Nebula Blueto complement the young audiences’ everyday lifestyle.

Y20 also comes with enhanced user-friendly features such as a cleverly designed side-mounted fingerprint scanner that adapts to your daily phone use, making the phone unlocking experience instantaneous and intuitive.

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.

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