KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The recent Gen Z–led protests in Nepal have triggered a nationwide crisis, paralyzing key sectors and causing widespread destruction. Banks and stock markets have been shut down, while Tribhuvan International Airport only partially resumed operations after disruptions. Major business establishments like Bhatbhateni and residences of top industrialists were vandalized, and essential government buildings—including Singha Durbar and the Supreme Court—suffered extensive damage.
The industrial city of Biratnagar was left in ruins, and the tourism sector faces mounting uncertainty as both infrastructure and Nepal’s global image take a hit. Industry associations and civil institutions are now calling for urgent dialogue, restoration of order, and protection of critical assets to prevent further socio-economic fallout.
Banks across Nepal shut down
All banking operations nationwide were suspended on Wednesday following threats to burn vital documents. Nepal Bankers’ Association President Santosh Koirala cited consultations with Nepal Rastra Bank as the reason for the closures. With the Nepal Army now securing the environment, banks are expected to reopen gradually starting Thursday.
Tribhuvan International Airport reopens, domestic flights resume Thursday
Tribhuvan International Airport (TIA), closed since Tuesday afternoon due to unrest, reopened on Wednesday. International flights are now resuming, while domestic services will recommence on Thursday morning, airport spokesperson Rinji Sherpa confirmed.
Gold price stable, silver declines
Gold prices held steady on Wednesday, with hallmarked gold remaining at NPR 214,700 per tola—unchanged from Tuesday—according to the Federation of Nepal Gold and Silver Dealers’ Association. In contrast, silver eased slightly, slipping from NPR 2,515 to NPR 2,505 per tola.
Share market to remain closed until Sunday
The Nepal Stock Exchange (NEPSE) announced that the stock market will stay closed through the weekend. NEPSE spokesperson Murahari Parajuli explained that trading on Wednesday and Thursday was suspended at the request of investors amid heightened tensions, with Friday and Saturday already designated holidays.
Bhatbhateni stores burnt down amid protests
Dozens of Bhatbhateni Supermarket outlets were torched by protesters, marking a dramatic escalation during the Gen Z–led demonstrations. The protests, triggered by deadly police action on September 8, spilled into widespread civil unrest by Tuesday, with public properties burned across major cities.
NATTA warns political unrest will hit tourism
Kumar Mani Thapaliya, president of the Nepal Association of Tour and Travel Agents (NATTA), warned that the ongoing political instability could significantly undermine Nepal’s upcoming tourism season. He urged the government to seek resolution through dialogue, highlighting that peace, stability, and hospitality remain vital for drawing visitors.
Government buildings, courts and parliament damaged
The full extent of structural damage to public institutions remains unclear, but sources indicate severe destruction across Kathmandu Valley. Key structures including the Supreme Court, District Court, Prime Minister’s Office, President’s Office, Parliament Building, and various ministries within Singha Durbar were reportedly heavily damaged.
Industrial hub Biratnagar reduced to ashes
In Koshi Province’s capital, Biratnagar, protesters set fire to nearly all government facilities, courts, administrative buildings, politicians’ residences, and commercial complexes. Smoke from the fires filled the city and continued well into Wednesday afternoon.
Hotel Association urges facilitation for tourists
The Hotel Association Nepal (HAN) called on authorities to streamline tourist movements amid ongoing curfews and airport closures. With the crisis affecting travel and hospitality, HAN emphasized the need to protect Nepal’s tourism image and urged prompt action from all stakeholders.
Homes of top business tycoons attacked
Protesters expanded their actions from public to private property, targeting the residences of prominent businessmen Binod Chaudhary and Shekhar Golchha. Chaudhary’s home in Ravi Bhawan was vandalized and looted, while Golchha’s residence in Sitapaila was also attacked and damaged.
Five arrested for looting Rastriya Banijya Bank
The Nepal Army apprehended five individuals on Tuesday night for their alleged involvement in the looting of Rastriya Banijya Bank in Baneshwar, Kathmandu. Authorities stated that the suspects took advantage of the current unrest to carry out the robbery.
Singha Durbar and historic sites face irreversible damage
As the Gen Z protests escalated, Nepal witnessed widespread destruction of national heritage and government infrastructure. Singha Durbar, including the recently restored Office of the Prime Minister and Council of Ministers—rebuilt after the Gorkha earthquake—suffered major fire damage. Monday’s clash in New Baneshwar had already caused significant casualties; by Tuesday, the unrest had spread, leaving a trail of irreversible destruction.
Tourism bodies urge restoration of peace
The Nepal Mountaineering Association (NMA) and the Trekking Agencies’ Association of Nepal (TAAN) jointly expressed deep concern over the deteriorating environment for tourism. In a statement, the organizations called on the government to address the concerns of Gen Z protesters and restore peace, emphasizing that political stability and security are vital for Nepal’s tourism industry to survive.
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