KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Domestic airlines have increased ticket prices by up to Rs 5,400 as Dashain approaches, with notable hikes on various routes.
In other news, the 2024 Nepal-Korea Infra Biz Night was held in Kathmandu to celebrate 50 years of diplomatic relations between Nepal and Korea, with calls for long-term soft loans to support Nepal’s development.
Additionally, gold prices set new records throughout the week, reaching Rs 156,300 per tola by Friday, driven by international market trends and fluctuations.
Airlines increase ticket prices by up to 68% for Dashain
Domestic airlines have raised ticket prices significantly, with increases of up to Rs 5,400 as Dashain approaches in just three weeks.
For flights from Kathmandu to Dhangadhi between October 10-12, during the festival’s peak, passengers will face fares of Rs 13,300, up from the current Rs 7,900.
Other routes have also seen price hikes: Rs 3,900 more for Rajbiraj, Rs 3,700 for Bhadrapur, Rs 2,900 for Nepalgunj, and Rs 2,200 for Biratnagar.
Additionally, flights from Kathmandu to Surkhet have increased by Rs 4,500, to Bhairahawa by Rs 1,800, to Janakpur by Rs 600, and to Simara by Rs 470.
Nepal-Korea Infra Biz Night 2024 organized
The Embassy of the Republic of Korea (RoK) in Nepal hosted the 2024 Nepal-Korea Infra Biz Night in Kathmandu on Saturday to mark the 50th Anniversary of Diplomatic Relations between the two countries.
At the event, Chief Guest Minister for Physical Infrastructure and Transport, Devendra Dahal, congratulated both nations on reaching this milestone. He emphasized that over the past five decades, Nepal and Korea have built a strong foundation of mutual respect and cooperation, leading to fruitful outcomes.
Minister Dahal also advocated for the provision of long-term soft loans from the Korean government, rather than grants, to aid Nepal’s economic growth and advancement from its current status as a least-developed country.
Gold prices hit new highs
Gold prices reached new highs again this week. On Wednesday, the fourth day of the week, prices hit a record peak.
Despite a minor drop on Thursday, another historic high was achieved on Friday, the last trading day of the week.
Analysts attribute the rise in gold prices to international market fluctuations, increases in crude oil prices, a stable dollar exchange rate, and the ongoing upward trend in gold prices.
In the domestic market, gold prices also set new records throughout the week.
On Sunday, the price was Rs 152,100 per tola. By Wednesday, it had climbed to Rs 153,400 per tola.
After a brief decline on Thursday, the price surged to Rs 156,300 per tola on Friday, marking an increase of Rs 4,200 per tola from the start of the week.
(Prepared by Srija Khanal)
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