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, including protests against the Pathibhara cable car project, the decline in NEPSE points, and fluctuations in gold prices, reflect the dynamic nature of the country’s political, economic, and infrastructural landscape.
The Pathibhara cable car project has sparked tensions, especially after key political figures laid the foundation stone, with protests escalating as locals voice concerns over the environmental and cultural impact.
Meanwhile, the economy sees mixed signals: the NEPSE has experienced a slight drop, signaling cautious investor sentiment, while the construction of major infrastructure projects like the Khandbari-Kimathanka road and the Annapurna Base Camp development offer hope for future growth.
The government’s decision to suspend USAID-funded projects also highlights the complex interplay of international aid and local governance.
These events underscore the balancing act Nepal faces between development and the social, economic, and political forces at play.
Protest against Cable Car Project in Pathibhara reaches Kathmandu
Tensions are rising as the construction of a cable car to the renowned religious site, Pathibhara Temple in Taplejung, moves forward.
The protest has intensified following the joint foundation stone-laying ceremony by Constituent Assembly member Dambardhwaj Tumbahamphe and Phungling Municipality Mayor Amir Maden, after a worship ceremony at the project’s starting point, Kaflepati.
8th Chamber Expo to Feature International AI and Software Projects
The 8th edition of the Chamber Expo, organized by the Nepal Chamber of Commerce, will take place at Bhrikuti Mandap in Kathmandu starting January 30.
The event will showcase cutting-edge software and artificial intelligence (AI) projects, with a focus on international-level innovations, as announced in a press conference on Monday.
NEPSE drops 10 points, trading volume hits 8.92 billion rupees
The Nepal Stock Exchange (NEPSE) fell by 10.61 points on Monday, closing at 2,633.32 points, a 0.40% drop.
On the same day, 17,253,576 shares were traded, totaling a turnover of 8.92 billion 40 million 65 thousand rupees.
Of the listed companies, 105 saw an increase in share prices, while 129 experienced declines.
Khandbari-Kimathanka Road breakthrough completed
The construction of the Khandbari-Kimathanka road under the Koshi Highway, connecting China through the Jogbani checkpoint to Kimathanka in Sankhuwasabha, has reached a significant milestone.
The completion of the track digging work on the 158-kilometer road, stretching from Khandbari to Kimathanka, marks the road’s ‘breakthrough’ completion.
Finance Ministry orders suspension of four USAID-funded projects
The Ministry of Finance has issued instructions to halt work on four projects funded by USAID, without specifying further details on the reasons for the suspension.
Annapurna Base Camp infrastructure development Underwayu
Infrastructure development has begun at Annapurna Base Camp and Maurice Hargoj Trekking Trail in Myagdi’s Annapurna Rural Municipality-4, Narchyang.
The project, estimated to cost Rs 12.5 million, includes the construction of shelters, toilets, trekking trails, tea shops, and an open museum, with funding from the Annapurna Rural Municipality, Nepal Tourism Board, and Annapurna Conservation Area Project (ACAP).
Gold price drops by Rs 300 per tola
The price of gold in the Nepali market dropped by Rs 300 per tola on Monday, bringing it to Rs 160,100.
This decrease follows a previous price of Rs 160,400 per tola on Sunday. Similarly, silver prices also fell by Rs 15 per tola, priced at Rs 1,850 on Monday.
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