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 up 3.47 points in first one hour
Nepal Stock Exchange (Nepse) has gone up by 3.47 points in the first one hour on Thursday.
The benchmark index which started from 1,467.8 points has increased by 0.24 percent to reach at 1,465.50 points.
As many as 1,123,600 units of shares of 168 companies worth Rs 492,100,000 were traded in the first one hour. Out of 11 groups involved in the transaction during the period, hotels, development banks, hydro powers, microfinances and mutual fund witnessed fall in their share value while the indexes of the remaining six groups went up.
The share value of NRN Infrastructure and Development has increased by 9.82 percent, the highest increment of all.
Country records highest paddy cultivation this year
Paddy cultivation has reached the highest figure so far at 98 per cent this year, the Ministry of Agriculture and Livestock Development has said.
Rice has been cultivated on about one million 347 thousand hectares land this year. Ministry spokesman Dr Hari Bahadur KC explained that highest percentage of cultivation is because most of the people returned to their villages from urban areas owing to COVID-19 pandemic and they cultivated paddy in most of their field which otherwise remained uncultivated before.
Meanwhile, the urea fertiliser imported by the government has started entering the country and its supply would be smooth within a week.
The government has imported 32 thousand 500 metric tonnes urea from the United Arab Emirates (UAE) through the Salt trading Corporation Limited. The consignment will arrive here via Kolkata port of India.
Hero Motocorp launches Super Splendor with enhanced safety feature
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has launched an updated version of the highly popular Super Splendor motorcycle.
With new version, the Super Splendor is now safer and secure with the addition of the Integrated Braking System (IBS).
The IBS is an enhanced safety feature that enables distribution of brake action between the front and rear brakes when the rear brake is applied.
This ensures additional safety for the rider in all conditions. The Super Splendor with IBS will be available at authorized Hero showrooms across the country at the attractive prices of Rs. 1,98,000 (Self-Drum Alloy wheel). Rajat Bhargava, Head at Global Business of Hero MotoCorp, said, “We are delighted to launch the Super Splendor with IBS for our customers in Nepal.
The Super Splendor is one of the most popular motorcycles in the country, and we are certain this sentiment and trust on the brand will only grow for this motorcycle, which is now safer than before.”
Trading Company to procure 3,000 goats for Dashain
Food Management and Trading Company has planned to buy 3,000 goats for the upcoming Dashain festival.
The Company has said it is making preparations to procure 1,400 Himalayan goats and 1,600 goats targeting Dashain and Tihar Festivals.
The demand of meat will be high during the festival. According to Sharmila Neupane Subedi, the spokesperson for the Company.
The Company has allocated Rs 59,984,000 to this end. “As previous years, we are planning to procure 3,000 goats for the upcoming Dashain festival,” said Subedi.
Bharatpur’s drinking water distribution sees problem
The Bharatpur metropolis has witnessed trouble in the supply of drinking water. Owing to dislodgement of water supply pipes in course of road and drainage construction, distribution of drinking water to the metropolis denizens has seen troubles.
There is no coordination between the government agencies here in regard to the construction and expansion of roads.
It has resulted in complications in the construction of roads and drainage structure. Bharatpur drinking water board chief Prajapati Dahal shared dislodgement and breakdown of pipes mostly occurred during construction and maintenance have invited problems in the supply of drinking water.
“The lockdown enforced to contain the coronavirus has aggravated the problem”, he said, adding, “There are limited human resource to fix maintenance problems in water supply system”.
It is impossible for employees from far distance to come to the office due to lockdown; we are relying on limited staffs, he further shared. “The crisis has also prevented regular maintenance and monitoring of the water supply”.
(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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