KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The recent developments in Nepal’s economic and financial sectors reflect significant shifts and trends.
Gold prices reached an all-time high on Tuesday, surging to Rs 171,300 per tola, indicating a strong demand despite the fluctuating market.
The Nepal Stock Exchange (NEPSE) saw a slight increase, with modest growth in market volume, while the Nepal Police demonstrated efficiency in revenue collection, totaling over Rs 524 million.
Additionally, the Nepal Rastra Bank’s upcoming monetary policy review is expected to address liquidity concerns, as Governor Mahaprasad Adhikari prepares for his term’s conclusion.
Meanwhile, Sanima Reliance Life Insurance proposed a 9.2489% dividend, pending approval, highlighting the ongoing corporate activity in the financial sector.
In governance, Sharad Ojha’s appointment as the youngest chairman of the Nepal Insurance Authority marks a new chapter in the regulatory body. These events collectively signal a dynamic economic landscape in Nepal.
Gold price reaches new all-time high
Gold prices hit a record high on Tuesday (February 25), making it the most expensive it has ever been in the Nepali market.
According to the Nepal Gold and Silver Dealers Federation, the price of gold surged to Rs 171,300 per tola, setting a new all-time high.
On Monday, the price was Rs 170,800, with an increase of Rs 500 per tola. This rise has pushed gold prices to a historic peak.
Following a drop of Rs 1,000 per tola last Friday, gold prices have been steadily climbing since then.
In contrast, silver prices fell on Tuesday. The Federation reported a decrease of Rs 15 per tola, bringing the price of silver down to Rs 1,970 per tola from Rs 1,985 on Monday.
NEPSE sees modest rise as market volume reaches Rs. 9.90 billion
The Nepal Stock Exchange (NEPSE) saw a slight uptick on Tuesday, rising by 7.13 points (0.25%) to settle at 2,765.88, following a previous gain of 3.35 points.
The session started at 2,759.08, with the index fluctuating between a peak of 2,781.95 and a low of 2,758.84.
The overall turnover for the day amounted to Rs. 9.90 billion, with 17,865,703 shares traded across 312 companies through 97,562 transactions.
Monetary Policy review expected to ease liquidity issues as NRB Governor prepares to depart
Nepal Rastra Bank Governor Mahaprasad Adhikari is set to present the second quarterly review of the current fiscal year’s monetary policy on Tuesday, marking his final review before completing his five-year term on April 7.
With the banking sector grappling with excess liquidity and a shortage of investment-worthy sectors, Governor Adhikari is expected to introduce policy adjustments aimed at maintaining external economic balance and price stability.
Nepal Police collects over Rs 524 million in revenue
Nepal Police has amassed an impressive Rs 524.7 million in revenue within a single month while intensifying efforts to control various criminal activities across the country.
According to Nepal Police Central Spokesperson and Deputy Inspector General of Police Dinesh Kumar Acharya, the revenue was collected in the last month, with the largest share coming from the implementation of court decisions.
Sanima Reliance Life Insurance proposes 9.2489% dividend
Sanima Reliance Life Insurance Limited (SRLI) has proposed a 9.2489% dividend for the fiscal year 2080/81 BS.
During its 38th Board of Directors meeting on Falgun 12, the company suggested a distribution consisting of 9% bonus shares and 1.2489% cash dividends.
The company’s current paid-up capital stands at Rs. 4.51 billion. It is important to note that this dividend proposal is subject to approval by the Nepal Insurance Authority and endorsement at the company’s upcoming AGM.
Sharad Ojha appointed as Chairman of Nepal Insurance Authority
Sharad Ojha has been appointed as the new chairman of the Nepal Insurance Authority (NIA), a decision made during the Cabinet meeting on Monday evening.
At just 33 years old, Ojha becomes the youngest person to ever lead the regulatory body.
The selection process involved a recommendation committee that initially shortlisted five candidates.
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