KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The second week of Mangsir brought positive momentum for Nepal’s stock market, with the Nepal Stock Exchange (NEPSE) gaining 2.52 percent, rising by 67.61 points to reach 2,748.05 points by the end of the week.
Despite fluctuations, with the market rising on three days and falling on two, the overall trend remained positive, fueled in part by investor optimism following the appointment of Santosh Narayan Shrestha as the new Chairman of the Nepal Securities Board (SEBON).
During the week, over Rs 38.89 billion worth of shares were traded. In other significant news, the Super Kabeli ‘A’ Hydropower Project in Taplejung successfully completed its first trial production, marking a significant step toward contributing 13.5 MW of clean energy to Nepal’s national grid.
Meanwhile, the Nepal Electricity Authority (NEA) scheduled power cuts in parts of Kathmandu for essential cable line repairs, while in Khotang, preparations are underway for Nepal’s first national bamboo conference, set to take place in Diktel from February 27-29, 2025, aimed at promoting bamboo-based industries and creating local jobs.
NEPSE ends week with 2.52 percent gain
The second week of Mangsir brought positive news for Nepal’s stock market. From Mangsir 9 to 13, the Nepal Stock Exchange (NEPSE) increased by 67.61 points, ending the week with an index of 2,748.05 points.
The market saw fluctuations, rising on three days and falling on two, but overall, the positive trend prevailed.
Investors responded positively to the appointment of Santosh Narayan Shrestha as the new Chairman of the Nepal Securities Board (SEBON), which had been vacant for 11 months.
During the week, more than Rs 38.89 billion worth of shares were traded, with an average daily transaction of over Rs 7.77 billion.
NOC hikes fuel prices
The Nepal Oil Corporation (NOC) has increased the prices of several petroleum products.
Effective from midnight, the price of petrol has increased by Rs 1 per liter, bringing the new rate in the Kathmandu Valley to Rs 160 per liter.
In addition, the Corporation has raised the price of aviation fuel by Rs 2 per liter for domestic flights, while the price for international flights to Kathmandu has increased by US$ 15 per kiloliter.
Test production of Super Kabeli ‘A’ Hydropower Project successful
The first trial of production of the Super Kabeli ‘A’ Hydropower Project in Sirijangha Rural Municipality of Taplejung has been successful.
The project based on the Kabeli River has a capacity of producing 13.5 MW of clean energy.
According to the project’s Public Relations Officer, Meghnath Dhungana, the power production trial of the project began last Sunday.
With the successful testing, Nepal Electricity Authority technicians are preparing to connect the power generated from the project to the national grid.
The Kabeli Hydropower Company Limited is also constructing another hydropower project with a capacity of 21.13 MW in the same locality.
Select areas in Kathmandu face power outage
The Nepal Electricity Authority (NEA) scheduled power cuts in several areas of Kathmandu on Saturday.
In a notice issued by the NEA, power was temporarily shut off in areas served by the Maharajgunj Distribution Center.
According to NEA, power cuts are necessary for the expansion and repair of cable lines in these areas.
National bamboo conference in Diktel on Feb 27-29
Diktel Bazaar, the trade center of Khotang district, is hosting the national bamboo conference after three months.
The event- first of its kind in Nepal- will be organized from February 27 to 29, 2025. Diktel Rupakot Majhuwagadhi municipality in Khotang district is organizing the conference in order to utilize the bamboo for creating jobs locally.
It is believed the conference, which is possibly the first in Nepal’s history, would help run industries related to bamboo and create jobs for the youths, thereby recognizing indigenous skills and knowledge.
(Prepared by Srija Khanal)
Comment