KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Nepal Rastra Bank issues warnings to CEOs of seven development banks over loan misuse
Nepal Rastra Bank (NRB) has issued warnings to the Chief Executive Officers (CEOs) of seven development banks for the misuse of refinancing, business continuity loans, and concessional loans. The warning, issued under Section 100 of the Nepal Rastra Bank Act, 2002, affects Lumbini, Mahalaxmi, Kamna, Muktinath, Salpa, Garima, and Saptakoshi development banks.
NEPSE up by 52.36 Points; trading volume hits Rs 9.20 billion
The Nepal Stock Exchange (NEPSE) experienced a surge on Wednesday, with the index climbing by 52.36 points to close at 2,665.45 points. This 2% increase highlights a bullish trend, driving investor confidence and market activity.
The day saw an impressive trading volume, with 17,692,819 shares exchanging hands, generating a turnover of Rs 9.20 billion. A total of 322 companies were actively traded, resulting in 90,696 transactions throughout the session.
Gold price surges by Rs 1,900 per tola
The price of gold in Nepal rose significantly by Rs 1,900 per tola on Wednesday, marking a continuous upward trend in recent days. According to the Federation of Nepal Gold and Silver Dealers Association, gold is now trading at Rs 160,000 per tola, up from Rs 158,100 on Tuesday. The rising price of gold reflects ongoing market fluctuations, with demand and external factors influencing the precious metal’s value.
Nepal imports lipstick worth over Rs 340 million in first half of FY
In the first six months of the current fiscal year (FY), Nepal imported lipstick worth over Rs 340 million. According to the latest data released by the Customs Department, a total of Rs 345.386 million worth of lipstick was imported during this period.
‘Ordinance incentivizes private sector for investment’
Chairperson of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal said the ordinance recently introduced by the government has incentivized the private sector to investment.
In his address to the closing ceremony of the ‘8th Myagdi Festival, Maghe Sankranti, province-level agriculture, tourism, industrial and trade fair’ at Beni on Tuesday, Chair Dhakal said the private sector was encouraged by the change in laws made through the ordinance.
Dhangadhi Sub-metropolitan City collects Rs 170 million in revenue
Dhangadhi Sub-metropolitan City in Kailali has collected a total of Rs 170 million in revenue for the current fiscal year. This revenue was gathered across various sectors from mid-July to mid-January, marking the mid-year point of the fiscal year.
According to Lekhnath Ojha, the revenue branch chief, the sub-metropolitan city earned Rs 19.267 million from property tax, Rs 12.368 million from land tax-property revenue, Rs 35.283 million from rental tax, Rs 35.212 million from other revenue, Rs 27.979 million from business tax, and Rs 16.548 million from map clearance fees.
Pathibhara Temple collects over Rs 13 million in offerings in six months
The Pathibhara Temple, one of Nepal’s most revered religious sites, has collected nearly Rs 13 million in cash offerings within the first six months of the current fiscal year 2024/25. According to the Pathibhara Area Development Committee, the offerings were contributed by 106,623 devotees who visited the temple between mid-July 2024 and mid-January 2025.
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