KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Investment in various hydropower projects is gaining momentum, with banks and financial institutions signing agreements to invest a total of Rs 26 billion in two hydropower projects over the past week.
Meanwhile, the Nepal Stock Exchange (NEPSE) index has shown a modest improvement.
Official data indicates that sales of electric cars in Germany declined by 27.4 percent last year.
Additionally, a case has been filed in the Supreme Court regarding the denial of a license for a new stock exchange.
NEPSE Index rises slightly by 0.23 percent
The Nepal Stock Exchange (NEPSE) on Tuesday saw a modest increase of 6.16 points (0.23%), ending the day at 2,646.84.
This follows a notable 49.12-point gain in the previous session.
Starting at 2,654.34, the index experienced fluctuations throughout the day, peaking at 2,656.52 and dipping to a low of 2,625.24.
The total turnover amounted to Rs. 5.38 billion, with 66,626 transactions involving 12,081,606 shares from 305 listed companies.
Case filed against denial of new stock exchange license
A case has been filed in the Supreme Court challenging the refusal to grant a license for a new stock exchange.
Krishna Bahadur Thapa registered the case under writ number 081-DHA-0035.
The petition has been filed against the Office of the Prime Minister and Council of Ministers, the Ministry of Finance, and the Securities and Exchange Board of Nepal.
Thapa’s petition argues that the Nepal Securities Board lacks the authority to issue guidelines regarding the recommendation of the board to establish a corporate body for operating the securities market under Sections 116, 117, and 118 of the Securities Act, 2063.
Investment in two hydropower projects
Investment in hydropower projects has surged, with agreements signed by banks and financial institutions to invest Rs 26 billion in two projects within the past week.
Recently, the financial management of the 49.95 MW Danakhola Hydropower Project, promoted by Lalu Pate Hydropower Company, was completed.
Electric car sales in Germany decrease by 27.4 percent
Official data reveals that sales of electric cars in Germany dropped by 27.4 percent in the past year.
In total, approximately 2.8 million new electric cars were registered in Germany, the largest car market in Europe, in 2024.
This marks a 1 percent decline compared to the previous year, according to the KBA Federal Transport Authority.
Gold price remains stable
The price of gold in the Nepali market remained stable on Tuesday. According to the Nepal Gold and Silver Dealers Federation, the price of gold as of Tuesday stood at Rs 152,000 per tola.
Gold was bought and sold at the same price on Sunday and Monday.
Meanwhile, the price of silver increased. On Tuesday, silver prices rose by Rs 20 per tola, reaching Rs 1,830, compared to Rs 1,810 per tola on Monday.
(Prepared by Srija Khanal)
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