NewsChautari.ai

NEPSE Plunges 26 Points; Turnover Dips to Rs 5 Billion

Published about 1 month ago

On Monday, June 1st, the Nepal Stock Exchange (NEPSE) index experienced a significant drop of 26.72 points (0.96%), settling at 2,755.37 points. The sensitive index also fell by 1%, while the float index declined by 0.77%. Most sectoral sub-indices closed negatively, except for Non-Life Insurance (up 1.37%) and Others (up 3.36%). The Trading sector suffered the most, falling by 6.14%. The total turnover for the day was Rs 5.61 billion, involving 63,719 transactions across 349 listed companies. Nepal Reinsurance Company Limited (NRIC) and Kalinchowk Hydropower Limited (KHPL) were top gainers, while Bungal Hydro Limited (BUNGAL) was the top loser.

Himalayan Times
NEPSE Plunges 26 Points; Turnover Dips to Rs 5 Billion
West Seti Transmission Line Advances Under PPP Model

West Seti Transmission Line Advances Under PPP Model

Nagarik News
EV Imports Surge Through Birgunj, Exceed Rs 4 Billion

EV Imports Surge Through Birgunj, Exceed Rs 4 Billion

Himalayan Times
NEPSE Declines After Budget; Trading Volume Drops

NEPSE Declines After Budget; Trading Volume Drops

Nagarik News
EV Prices to Rise in Nepal Due to Increased Taxes

EV Prices to Rise in Nepal Due to Increased Taxes

Published about 1 month ago

Nepal's government has increased taxes on electric vehicles (EVs) in the upcoming fiscal year's budget, leading to a projected price increase ranging from NPR 200,000 to NPR 1 million. The new tax policy replaces the excise duty with a 'Clean Infrastructure Investment Fee' (CIIF), ranging from 2.5% to 130% based on the vehicle's value. This is in addition to existing customs duties, road construction fees, and VAT. Automotive Association of Nepal (NADA) predicts that expensive EVs will become significantly more expensive. Business owners criticize the policy for being unstable and unscientific, potentially hindering the growth of the EV market.

eKantipur
Gold Price Drops, Silver Rises in Nepali Market

Gold Price Drops, Silver Rises in Nepali Market

Published about 1 month ago

On Monday, the price of gold decreased slightly in the Nepali market, while the price of silver increased marginally. According to the Nepal Gold and Silver Dealers Association, the price of gold decreased by Rs 200 per tola compared to Sunday. The price of fine gold was fixed at Rs 310,900 per tola on Monday. Previously, gold was traded at Rs 311,100 per tola on Sunday. While the price of gold decreased, the price of silver increased slightly. On Monday, silver increased by Rs 10 per tola, reaching Rs 5,355. On Sunday, silver was traded at Rs 5,345 per tola, according to the federation.

Nagarik News
Gold Price Drops, Silver Rises in Nepal Market

Gold Price Drops, Silver Rises in Nepal Market

Nagarik News
Nepal's Budget: Boosting Consumption for Economic Growth

Nepal's Budget: Boosting Consumption for Economic Growth

Nagarik News
Nepal Aims to Boost Economy Through Increased Consumption

Nepal Aims to Boost Economy Through Increased Consumption

Nagarik News
Chamber: Budget Ambitious, Implementation Key for Economy

Chamber: Budget Ambitious, Implementation Key for Economy

Published about 1 month ago

The Nepal Chamber of Commerce (NCC) views the FY 2083/084 budget as ambitious but believes its effective implementation will boost the economy. The NCC welcomes the increase in the individual income tax exemption limit to NPR 1 million and the reduction of the maximum income tax rate from 39% to 29%. They also appreciate the reduced customs duty on 273 types of industrial raw materials, the simplification of the tax system, and the abolition of excise duty on 360 goods. While positive about many aspects, the NCC expresses concerns about the increased taxes on private sector education and health services, increased VAT on electricity consumption, and increased capital gains tax, which they believe will burden investors.

Annapurna Post
Norway's Oil Paradox: Exporting Big, Consuming Less

Norway's Oil Paradox: Exporting Big, Consuming Less

Published about 1 month ago

Norway, known as one of the greenest countries globally, generates most of its electricity from renewable sources and boasts a high adoption rate of electric vehicles. Despite its commitment to reducing carbon emissions internally, Norway is also a major exporter of fossil fuels, a paradox that fuels ongoing political and social debate. The country's wealth, driven significantly by its energy sector, has allowed it to accumulate a sovereign wealth fund worth $1.8 trillion. Recent geopolitical events, such as the conflict in the Middle East, have further impacted Norway's economy, highlighting the complex relationship between its environmental goals and its reliance on fossil fuel exports.

BBC Nepali
NEPSE Drops After Budget: Capital Gains Tax Impact

NEPSE Drops After Budget: Capital Gains Tax Impact

Annapurna Post
Electricity Tax Won't Hurt Consumers: Finance Minister

Electricity Tax Won't Hurt Consumers: Finance Minister

Annapurna Post
Cryptocurrency Trader Arrested in Chitwan, Phones Seized

Cryptocurrency Trader Arrested in Chitwan, Phones Seized

Rato Pati
Online Customs Chaos: Long Waits at Nepal-India Border

Online Customs Chaos: Long Waits at Nepal-India Border

Published about 1 month ago

The implementation of a mandatory online customs system for vehicles entering Nepal from India has caused significant hardship for people in border areas. At the Malibada-Bhithamod customs point in Jaleswar, Mahottari, drivers and passengers are forced to wait in line for 3-4 hours due to the lack of preparation, insufficient manpower, and inadequate technical management. Service recipients complain about the complexity of the online registration process and are often forced to rely on brokers who charge exorbitant fees. While the digital system is considered a positive step, the lack of necessary infrastructure and support has led to public frustration. Customs officials acknowledge the initial problems and pledge to improve the system.

Rato Pati
West Seti Transmission Line Project Advances

West Seti Transmission Line Project Advances

Published about 1 month ago

The West Seti 400 kV Transmission Line project, aimed at connecting electricity generated from large hydropower projects in western Nepal to the national grid, is progressing under a public-private partnership (PPP) model. West Seti Transmission Limited, a special purpose vehicle (SPV), has been established to implement the project, estimated to cost around NPR 20 billion with a 30% equity and 70% debt investment structure. The project involves constructing a 145 km double circuit transmission line from Chainpur, Bajhang, to Dododhara, Kailali, along with substations. The Minister for Energy, Water Resources and Irrigation, Biraj Bhakta Shrestha, emphasized the importance of private sector involvement and the government's commitment to supporting the project for energy security and economic growth in the Far West.

Annapurna Post
NIC Asia Bank Concludes 28th AGM

NIC Asia Bank Concludes 28th AGM

Annapurna Post
NEPSE Sees Slight Gain in Pre-Open Session

NEPSE Sees Slight Gain in Pre-Open Session

Annapurna Post
Rautahat Farmers Face Maize Price Crisis

Rautahat Farmers Face Maize Price Crisis

Annapurna Post
HAN Pleased with Tourism Budget, Urges Implementation

HAN Pleased with Tourism Budget, Urges Implementation

Published about 1 month ago

The Hotel Association Nepal (HAN) has expressed satisfaction with the tourism development concepts, programs, and budget presented in the national budget for 2083/084. HAN emphasized the need for effective implementation of the announced programs. The budget's focus on private sector collaboration is expected to boost capital formation and investment, stimulating business activities. HAN welcomes initiatives like Visit Nepal 2085, Arogya Year 2027, and development of new tourist destinations. They also highlighted the importance of operating international airports in collaboration with the private sector and improving air services. HAN requested the government to reconsider the VAT on electricity, as it could increase operating costs for hotels. They also urged the government to lift restrictions on holding government events at hotels and to promote internal tourism.

Annapurna Post
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