KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The NEPSE Index experienced a notable decline of 4.31% this week, closing at 2,627.14 with a turnover of Rs 29.95 billion, reflecting a significant shift from the previous week’s 2.89% gain.
The index demonstrated considerable volatility, peaking at 2,748.78 before dipping to a low of 2,614.65.
Notably, Finance Minister Bishnu Poudel’s recent appeal to international investors highlights the government’s push for confidence in Nepal’s diverse sectors, including IT and infrastructure.
Meanwhile, advancements in agricultural technology are reshaping farming practices in Kanchanpur, as local farmers increasingly adopt modern equipment to enhance productivity and streamline operations.
These developments underscore a blend of market challenges and emerging opportunities within Nepal’s economic landscape.
NEPSE weekly wrap: 4.31% drop with Rs 29.95 billion turnover
NEPSE ended the week with a 4.31 percent decline and a turnover of Rs 29.95 billion.
The NEPSE Index closed at 2,627.14, down 118.22 points (4.31%). Last week, it finished at 2,745.36, marking a 2.89% increase from the prior week.
During this week, the index peaked at 2,748.78 and dropped to a low of 2,614.65, resulting in a volatility of 134.13 points, compared to a volatility of 113.15 points the week before.
The highest intraday increase was 57.99 points on Monday, with a turnover of Rs 5.90 billion, while the total turnover for the week reached Rs 29.95 billion.
Finance Minister Poudel urges investors to invest in Nepal with confidence
Minister for Finance Bishnu Poudel encouraged international investors to confidently invest in Nepal’s information technology (IT) sector, highlighting its significant potential for high returns.
Speaking at an event organized by the American Chamber of Commerce and Industries, he also invited investors to explore opportunities in Nepal’s physical infrastructure, tourism, agriculture, energy, and other sectors to reap the benefits of their investments.
DPM Poudel held talks with MCC Chief Executive Officer
Minister for Finance Bishnu Prasad Poudel has held a meeting with Chief Executive Officer (CEO) of Millennium Challenge Corporation (MCC) Alice P. Albright in Washington DC, USA.
The Embassy of Nepal in Washington DC stated that discussions were held regarding the MCC projects in Nepal being implemented under the MCC Compact Agreement since last year and the cross-border transmission line.
Likewise, the Deputy Managing Director of the International Monetary Fund (IMF), Bo Li, held a meeting with Minister Poudel on Thursday.
Farmers using technology to boost income
The use of technology in farming has gradually increased in Belauri and other areas in the district of Kanchanpur.
Farmers have started using tractors, mini-tillers and power tillers instead of oxen and he-buffaloes to plow the fields for traditional farming.
Likewise, the local communities have made their life easier by technology for crop harvesting and grinding too.
Of late, farmers have used reapers, cutters, combined harvesters and other technology more commonly in Belauri Municipality.
(Prepared by Srija Khanal)
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