Date : 2024-01-21

Government Accumulates Rs 3.15 Billion in Royalties from Operational Hydropower Projects

The government has collected over Rs 3.15 billion in royalties from various operational hydropower projects. The Nepal Electricity Authority (NEA) is responsible for the regular collection of these royalties, retaining the amount while compensating power developers for power usage.

Furthermore, the Electricity Development Department has urged certain power developers to submit outstanding royalty amounts, as they have yet to settle their dues until the fiscal year 2079/080 BS. In accordance with regulations, the collected royalty funds will be allocated to affected communities at the local level.

In the fiscal year 2079/080, the Department accumulated revenue through various channels, including Rs 1.15 billion from license fees, Rs 8.7 million from penalties and confiscation, and Rs 4.2 million from arrears. The total revenue for the mentioned fiscal year exceeded Rs 4.31 billion.

Date : 2024-01-20

Nirvana Chaudhary Makes History as First Nepali Private Sector Representative at World Economic Forum

Nirvana Chaudhary, Managing Director of Chaudhary Group achieves historic milestone as the first Nepali private sector representative at the World Economic Forum (WEF) in Davos. In a panel discussion focused on climate change action in Alpine Economies, Chaudhary underscored Nepal's crucial role as a Himalayan water source, essential for a substantial global population.

His presence alongside global leaders, including Bill Gates and Gautam Adani, highlights the increasing influence of South Asian markets in international economic dialogues.

This milestone is celebrated by the Chaudhary Group as a historic moment for both the individual and Nepal, demonstrating the influence of young leaders from developing economies on the global stage.

Date : 2024-01-19

Himalayan Reinsurance Limited (HRL) Soars to 7th Position in Market Capitalization Since IPO Debut

Himalayan Reinsurance Limited (HRL) has demonstrated impressive performance, securing the 7th position among companies with the highest market capitalization and turnover since its Initial Public Offering (IPO).

Embarking on its journey in the public market, HRL initiated an Initial Public Offering (IPO) with shares priced at a premium of Rs. 206 per share, offering a total of 2.49 crore unit shares to the general public. The company's listing included a total of 10 crore shares on January 7, 2024, with the Nepal Stock Exchange (NEPSE) establishing an opening range at Rs. 103.07 to Rs. 309.21.

As the second reinsurance company to undergo an IPO in Nepal, Himalayan Reinsurance holds the distinction of being a pioneering private-sector reinsurance firm in the country. Its operations encompass providing reinsurance support for both Life and Non-Life Insurance Companies, not only within Nepal but also on an international scale. 

Date : 2024-01-18

Government Signs Agreement with ADB for Concessional Loan

The government has formally entered into an agreement with the Asian Development Bank (ADB) to secure a concessional loan of approximately Rs 21 billion, along with grants totaling around Rs 700 million.

The agreement for the execution of the 'urban resilience and livelihood improvement project' was signed by Finance Secretary Krishna Hari Puskar and ADB Country Director Arnaud Cauchois in Nepal. The signing ceremony took place at the Finance Ministry on Wednesday.

Following the agreement signing, Finance Secretary Puskar expressed optimism about the positive financial impacts and overall ecosystem improvements at the local levels set to benefit from the project.

Date : 2024-01-17

NEPSE Index Sees Decline with Record Turnover; Notable Market Movements and High Trading Activity

The Nepal Stock Exchange (NEPSE) Index closed at 2,163.06 points, indicating a loss of 12.10 points or 0.55% from the previous day's closing. In the preceding trading session, the index had recorded a gain of 54.54 points. The market commenced today with the index opening at 2,181.8, touching an intraday low of 2,154.02, and reaching an intraday high of 2,215.54.

The volume of shares traded reached 33,525,702, resulting in a total turnover of Rs. 9.76 Arba, marking the highest turnover in the past two years. The last instance of such high turnover was observed on January 16, 2022, with a turnover of Rs. 9.67 Arba.

The market capitalization is reported at Rs. 33.97 Kharba, with a float market capitalization of Rs. 11.75 Kharba.

Date : 2024-01-17

Real Estate Transactions Hit a Peak in Mid-December to Mid-January Period, Setting New Records

The real estate market has witnessed a surge in transactions following the adoption of a more lenient policy by Nepal Rastra Bank (NRB) and a subsequent decrease in interest rates on property loans offered by banks.

According to records from the Department of Land Management and Archive (DoLMA), a total of 45,277 land plots and housing units were transacted in the last month. This marks the highest number of transactions recorded in the initial five months of the current fiscal year.

The government has collected revenue exceeding Rs 3.20 billion from property transactions conducted between mid-December and mid-January.

Date : 2024-01-16

NEPSE Index Jumps 2.57% to 2,175.17 Points, Records Highest Turnover in Nearly Two Years at Rs. 8.02 Arba

The Nepal Stock Exchange (NEPSE) Index recorded a gain of 54.54 points, equivalent to 2.57% compared to the previous day's closing, concluding at 2,175.17 points. In the preceding trading session, the index had witnessed a gain of 31.62 points.

The market commenced today with the index opening at 2,125.2, experiencing an intraday low of 2,125.11, and achieving an intraday high of 2,178.37.

Throughout today's trading activities, a total of 304 different stocks were traded in 133,061 transactions. The volume of shares traded reached 23,370,053, resulting in a total turnover of Rs. 8.02 Arba, marking the highest turnover in almost 2 years. 

Date : 2024-01-16

Langtang-Bhotekoshi Hydroelectricity Project Secures Rs 20 Billion FDI, Set to Generate 120 Megawatts of Power

The Langtang-Bhotekoshi Hydroelectricity Project in Rasuwa has successfully secured approximately Rs 20 billion foreign direct investment. The project, currently under construction, boasts a total power generation capacity of 120 megawatts.

Deepak Khadka, a key promoter of the project, revealed that a substantial portion of the foreign investment, totaling Rs 19 billion and 857 million, has been secured from the Bank of China of the People's Republic of China. The overall cost of the project stands at Rs 24 billion 954 million and 473 thousand.

The project's promoters have contributed Rs 5 billion 97 million and 473 thousand as equity, while the remaining funding has been acquired through a loan of Rs 19 billion and 857 million from the Bank of China.

Date : 2024-01-15

NOC Implements Rs 1 per Liter Reduction for Petrol and Diesel Prices

Nepal Oil Corporation (NOC) has announced a reduction in the prices of diesel, petrol, and kerosene by Rs 1 per liter. This decision is attributed to a decrease in the price lists provided by the sole supplier, Indian Oil Corporation. The adjusted prices will be effective from January 16, according to a statement released by NOC.

Under the revised pricing, petrol will be priced at Rs 166 per liter in the Kathmandu valley, while in areas bordering India, it will be Rs 163.50 per liter.

Similarly, both diesel and kerosene will be available at Rs 156 per liter in the valley and Rs 153.50 per liter in border areas.