Wednesday, November 13th, 2024

Economic Digest: Nepal’s Business News in a Snap


11 November 2024  

Time taken to read : 4 Minute


  • A
  • A
  • A

KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.

The economic developments in Nepal reflect a mix of positive growth and sectoral shifts.

The Nepal Stock Exchange (NEPSE) showed a strong rebound, gaining 62.54 points to close at 2,738.06, reflecting a 2.33% increase following a slight dip the previous day.

The trading session saw significant activity with over 22 million shares exchanged and a turnover of Rs. 9.71 billion.

In the commodity market, the price of gold dropped by Rs. 500 per tola, now trading at Rs. 166,000, while silver also saw a decrease.

In the corporate sector, Shine Resunga Development Bank proposed an 8% dividend, including bonus shares and a cash payout, signaling positive financial health.

On the infrastructure front, Tilicho Lake’s base camp, a key tourist destination, has been connected to the national power grid, improving access to electricity for local businesses and residents.

Additionally, rural areas in Myagdi are experiencing a rise in millet farming, driven by increasing urban demand for the crop, showing a shift towards more sustainable and local agricultural practices.

These developments highlight both the dynamic nature of Nepal’s economy and the positive impacts of infrastructure and agricultural initiatives.

NEPSE gains 62.54 points on Sunday

KATHMANDU: The Nepal Stock Exchange (NEPSE) on gained 62.54 points, closing at 2,738.06, a 2.33 percent increase from the previous day’s minor loss of 1.88 points.

The session began at 2,681.59 points, with the index fluctuating between a low of 2,680.70 and a high of 2,738.12.

In total, 22,474,281 shares from 325 companies were traded across 100,651 transactions, generating a total turnover of Rs. 9.71 billion.

Additionally, six stocks hit their positive circuit limits during the session.

Gold price down by Rs 500 per tola

The price of gold has decreased today (Sunday).

According to the Federation of Nepal Gold and Silver Traders, the price of gold has dropped by Rs 500, now trading at Rs 166,000 per tola.

On Friday, the price was Rs 166,500 per tola. Similarly, the price of silver has also decreased. Today, silver is priced at Rs 1,960 per tola, a reduction of Rs 20.

Shine Resunga Development Bank proposes 8 percent dividend

Shine Resunga Development Bank Limited (SHINE) has proposed an 8 percent dividend for the fiscal year 2080/81.

The bank’s 300th meeting of the board held on 23rd Kartik 2081, has proposed an 8 percent dividend from the paid-up capital. The paid-up capital of the bank stands at Rs. 4.73 billion.

Three psecent bonus shares worth Rs. 14.20 crores and 5 percent cash dividend (including tax) worth Rs 23.66 crores have been proposed.

Tilicho Lake’s base camp connected with power from national grid

The base camp of Tilicho Lake, a popular tourist destination in Manang, has now been connected to the national power grid.

According to the Nepal Electricity Authority, a 50 kVA transformer has been installed at the base camp, located at an altitude of 4,250 meters above sea level.

Currently, 10 hotels, a health post, and several eateries are operating in the area. The number of electricity customers is 15.

Millet farming expanded in rural parts of Myagdi

Once considered a rustic food, Millet has become a preferred food item in urban areas in recent years.

This growing urban demand has led to an increase in millet cultivation in the rural regions of Myagdi.

Farmers in Malika, Mangala, and Dhawalagiri—villages in western Myagdi—have increasingly embraced millet farming, particularly after city traders began visiting these villages in private vehicles to purchase the grain.

Publish Date : 11 November 2024 08:05 AM

NEA to disconnect power to defaulting industries if dues not settled in 15 days

KATHMANDU: Kulman Ghising, Managing Director of Nepal Electricity Authority (NEA),

SC summons govt over reconnection of electricity without clearing outstanding dues

KATHMANDU: The Supreme Court (SC) has summoned the government regarding

NC and UML form for two-party mechanism in Koshi Province

BIRATNAGAR: Nepali Congress (NC) and CPN (UML) have formed two-party

Foreign Minister Rana to visit China ahead of PM Oli’s trip

KATHMANDU: Foreign Minister Dr. Arzu Rana is visiting China to

Cold weather leaves Baglung’s Bukipatan deserted

BAGLUNG: The stunning Bukipatan area in Dhorpatan has become deserted