KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Gunakar Bhatta resigns from NRB; emerges as frontrunner for Governor
Dr. Gunakar Bhatta, Executive Director of the Nepal Rastra Bank (NRB), has resigned from his post, submitting his letter to Acting Governor Neelam Dhungana on Friday.
Dr. Bhatta’s resignation comes as he emerges as the leading contender to be appointed the new NRB governor, following the departure of Maha Prasad Adhikari.
According to political sources, Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba have reached a tentative agreement to support Bhatta’s appointment.
Efforts underway to establish Meta liaison office, Communications Minister says
Minister for Communications and Information Technology, Prithvi Subba Gurung, said on Friday that the Ministry has been asking the Meta Company to establish its liaison office in Nepal in order to make social media platform responsible towards society.
In the Ninth General Convention of Sancharika Samuha, Minister Gurung pointed out the need of regulating social media platform for country’s independency, geographical integrity, sovereignty and welfare of the community.
NEPSE renews membership of 90 brokers and two stock dealers
The Nepal Stock Exchange Ltd. (NEPSE) has renewed the membership of broker companies and stock dealers for the fiscal year 2024/25, ensuring continued operations in the secondary securities market.
According to NEPSE, membership has been renewed for 90 broker companies and two stock dealers who had obtained membership by September 2024.
NEPSE facilitates the buying and selling of securities in the secondary market and regulates the activities of its members under annual renewals.
Gold prices dip slightly after record high
After reaching a record high of Rs 190,600 per tola on Thursday, gold prices have fallen by Rs 800, with the new rate set at Rs 189,800 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association.
Meanwhile, silver prices remain stable at Rs 1,960 per tola.
Law and Justice Committee passes FY 2024/25 report
The Law, Justice and Human Rights Committee of the House of Representatives has approved its annual report for the fiscal year 2024/25 with amendments.
The decision was made during a committee meeting held on Friday, and the report will now be submitted to the upcoming session of the Federal Parliament. Committee Chairperson Bimala Subedi informed that the report outlines the committee’s activities over the past year, including bill discussions, amendments, approvals, and various field monitoring visits.
Hetauda Cement resumes operations after six-month hiatus
After a six-month halt, Hetauda Cement Industry has resumed operations, beginning with the preparation of limestone for cement production earlier this week.
According to Acting General Manager Naveen Kumar Karna, cement production is expected to start within the next couple of days, with a daily target of 600 quintals.
He said that recent maintenance work on the machinery and improved raw material supply have made the restart possible.
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