Trade deficit expands to Rs 1,577.39 billion
The Current Macroeconomic and Financial Situation of Nepal released by the Nepal Rastra Bank (NRB) on Monday paints a bleak picture of the country’s economy.
While year-on-year inflation stood at 8.56 percent, imports increased by 27.5 percent ballooning the trade deficit to Rs 1,577.39 billion in the 11 months of the fiscal year 2021/22.
Rs 904 billion remittance inflow recorded in 11 months
Remittance inflow has recorded to be Rs 904 billion in the first 11 months of the current fiscal year 2021-22.
As published by the Nepal Rastra Bank on Monday, remittance inflow has increased by 3.8 percent according to the macroeconomic data of first 11 months of the current fiscal year.
According to the central bank, remittance had increased by 12.6 percent in the same period last year.
‘Smiling Children’ project launched
Minister for Energy, Water Resources and Irrigation, Pampha Bhusal, and visiting Communist Party of China (CPC) foreign department chief, Liu Jiancho, today jointly launched the ‘Smiling Children’ project.
The project was launched by offering food to students of Kathmandu Shanti Nikunja Secondary School.
Central mobilization committee report presented at NC meeting
Various reports and proposals were presented at central committee meeting of the Nepali Congress.
In a meeting held on Monday, NC Vice-President Purna Bahadur Khadka presented his local level election central mobilization committee report.
Foundation laid for installing former PM Bhattarai’s statue
A statue of former Prime Minister Krishna Prasad Bhattarai is to be constructed at Sundarijal, Gokarneshwor municipality-1.
Minister for Water Supply Umakanta Chaudhary laid the foundation stone for the construction of the former PM Bhattarai’s statue amidst a program organised at Sundarijal on Monday.
NEPSE sheds 77.01 points on Monday
Nepal Stock Exchange (NEPSE) index lost a whopping 77.01 points on Monday, the first trading day of this week. Sunday was a public holiday.
With a loss of 3.86 percent, the index closed at 1,915.61 points today.
The stock market opened at 1,933.33 points, which was the market’s intraday high. After trading began, the market continued to fall throughout the day and made an intraday low of 1,913.20 points.
HoR passes Nepal Police-Province Police coordination bill for Kathmandu Valley’s security
The House of Representatives (HoR) has passed the ‘Nepal Police and Province Police (Work Operation, Supervision and Coordination) First Amendment Bill, 2022.
The bill has made provisions for the Nepal Police to look after Kathmandu Valley’s security in coordination with the Province Police.
Minister for Home Affairs Bal Krishna Khand had presented a proposal in the House seeking passage of the bill. The House passed the proposal unanimously.
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