Category: Articles & Updates

  • “Nepal’s 2022/23 Macroeconomic and Financial Report Released by Central Bank”

    “Nepal’s 2022/23 Macroeconomic and Financial Report Released by Central Bank”


     

    Nepal Rastra Bank has reported that inflation was around 7.74 percent year-on-year. The country’s foreign exchange reserves were at USD 11.74 billion. However, both imports and exports saw declines, with imports dropping by 16.1 percent and exports decreasing by 21.4 percent. This is in contrast to the previous year when imports had increased by 24.7 percent and exports had risen by 41.7 percent.

    In terms of loans, an amount of Rs. 197.06 billion was given out to 145,778 borrowers in mid-July 2023. Among these borrowers, Rs. 135.76 billion was provided to 60,350 individuals involved in commercial agriculture and livestock businesses. Additionally, Rs. 58.38 billion was extended to support 82,718 women entrepreneurs. The remaining Rs. 2.91 billion was allocated to 2,710 borrowers falling under other categories of concessional loans.

     

  • “CASBA/Meroshare Settlements Impacted by Technical Issue”

    “CASBA/Meroshare Settlements Impacted by Technical Issue”


     

    A recent technical issue has temporarily affected the CASBA/Meroshare application’s settlement procedures. This problem has caused delays in the settlement processes. The team is actively working to fix the issue, and further information will be provided once the matter is resolved.

  • “Nepal-Bangladesh Power Deal: 40 MW Export in First Phase Marks Milestone Agreement”

    “Nepal-Bangladesh Power Deal: 40 MW Export in First Phase Marks Milestone Agreement”


     

    A recent multi-party agreement has been established to enable electricity supply from Nepal to Bangladesh. The agreement involves Nepal, India, and Bangladesh, and is considered a preliminary step. The Ministry of Energy, Water Resources, and Irrigation has disclosed that the initial phase will see Bangladesh purchasing 40 megawatts of electricity from Nepal.

     

  • “Nepal Oil Corporation Raises Petrol and Diesel Prices”

    “Nepal Oil Corporation Raises Petrol and Diesel Prices”


     

    Nepal Oil Corporation (NOC) recently raised the prices of petrol and diesel, causing a stir in the local market. The corporation’s board meeting, held on Tuesday, led to a unanimous decision to adjust prices. Diesel and kerosene prices surged by Rs. 14 per liter, while petrol increased by Rs. 5 per liter. As a result, consumers now pay Rs. 175 per liter for petrol and Rs. 164.5 per liter for diesel and kerosene, impacting the people significantly.

  • “RADHI Reports Q4 Profit; Slight Dip in Revenue from Power Sales”

    “RADHI Reports Q4 Profit; Slight Dip in Revenue from Power Sales”


    Radhi Bidyut Company Limited (RADHI) has reported a remarkable 121.33 percent increase in its net profits during the fourth quarter, reaching Rs. 11.27 crores for FY 2079-80. This substantial growth contrasts with the Rs. 5.09 crores earned in the same period of the previous fiscal year, 2078-79. The company’s primary income source, power sales, has experienced a decline of 4.82 percent, amounting to Rs. 12.84 crores for FY 2079-80.

     

  • “Closing Today: 9% Nepal SBI Bank Debenture 2089 (NSBD98) Issue”

    “Closing Today: 9% Nepal SBI Bank Debenture 2089 (NSBD98) Issue”


     

    Starting from today, Nepal SBI Bank Limited is concluding the public offering of its “9% Nepal SBI Bank Debenture 2089,” consisting of 2,000,000 units priced at Rs. 1000 per unit.

    Initially, the issue had commenced on the 18th of Shrawan, 2080, and was scheduled to close early on the 22nd of Shrawan. However, due to the issue not attaining full subscription by the original closing date, the deadline has been extended until the 31st of Shrawan.

  • “API Power Begins 40% Right Share Issue Today”

    “API Power Begins 40% Right Share Issue Today”


     

    API Power Company Limited (API) has initiated the sale of right shares, beginning today (Shrawan 31), which represents 40 percent of its current paid-up capital. The company’s plan involves offering 4 new shares for every 10 existing shares held. This means a total of 16,533,137 right shares will be available, each priced at Rs. 100.

    To facilitate this right share issuance, the company recently completed its book closure on Ashad 22. Shareholders are now eligible to apply for these right shares until the 19th of Bhadra.

  • “Nabil Bank Launches Nabil Dhukka Ghar Karja with 10.99% Fixed Interest Rate and 70% Property Value Loan”

    “Nabil Bank Launches Nabil Dhukka Ghar Karja with 10.99% Fixed Interest Rate and 70% Property Value Loan”


     

    Nabil Bank is introducing an attractive option for home loans, presenting two competitive fixed interest rate choices: 10.99% for a 7-year term and 11.99% for a 10-year term. Homeowners often worry about fluctuating rates impacting their monthly payments, as explained by Chadani Shrestha, Head of the Personal Lending Unit at Nabil Bank. To address this concern, the bank has launched the ‘Nabil Dhukka Ghar Karja’ scheme, offering homeowners peace of mind with stable and affordable fixed rates throughout the loan period.

    Under the ‘Nabil Dhukka Ghar Karja’ plan, first-time homebuyers can benefit from financing up to 70% of the property’s value, while others can secure up to 60% financing. The loan process is designed to be hassle-free and convenient for all applicants.

  • “CHCL Earns Rs. 69.45 Crores in Q4 of FY 79-80; Decline in Profits Linked to Reduced River Flow”

    “CHCL Earns Rs. 69.45 Crores in Q4 of FY 79-80; Decline in Profits Linked to Reduced River Flow”


     

    Chilime Hydro Power Company Limited (CHCL) has released its fourth-quarter report for the recently concluded financial year 2079-80, showing a nearly 8 percent decrease in Net Profits. In the final quarter of FY 2079-80, the company recorded profits of Rs. 69.45 crores, down from Rs. 75.42 crores in the same quarter of FY 2078-79.

    The primary revenue source for hydropower companies, the Revenue from the Sale of Electricity, also experienced a decline of 4.49 percent for CHCL, totaling Rs. 1.12 Arba in the last quarter of FY 2079-80.

  • “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”

    “Kumari Bank Partners with Classic Industries for 15% Mattress Discount”


     

    Kumari Bank has partnered with Classic Industries to offer a generous 15% discount on mattresses to their cardholders and mobile banking users. This special deal aims to benefit customers making purchases from the company.

    Kumari Bank operates through an extensive network comprising 304 branches, 307 ATM outlets, 63 branchless banking units, and 49 extension counters, providing widespread access and convenience for its customers.

     

  • “Kalika Laghubitta Q4 Report: 64% Net Profit Drop, Bad Loan at 4.13%”

    “Kalika Laghubitta Q4 Report: 64% Net Profit Drop, Bad Loan at 4.13%”


     

    Kalika Laghubitta Bittiya Sanstha Limited (KMCDB) has released its fourth-quarter report for the recently concluded financial year 2079-80. The report shows a significant drop of 64.01 percent in its Net profits compared to the same period in the previous fiscal year 2078-79. In specific numbers, the company earned only Rs. 4.62 crores, a notable decline from Rs. 12.84 crores.

    The company has experienced losses in two key areas: Net Interest Income and Operating Profits. Net Interest Income saw a decrease of 13.48 percent, while Operating Profits plummeted by 64.04 percent. Throughout the entire financial year 2079-80, the company generated a core business revenue of Rs. 25.50 crores and managed to accumulate Rs. 6.60 crores in Operating profits.

  • “Nepal’s Gold Prices Drop: Market Update”

    “Nepal’s Gold Prices Drop: Market Update”


     

    The Federation of Nepal Gold and Silver Dealers’ Association has announced a decline of Rs 700 per tola in the local gold price. This drop was observed on the same day while finalizing today’s price list.

    As of now, the value of fine gold remains steady at Rs. 111,300 per tola, while tejabi gold is being sold at Rs. 110,750 per tola. In comparison, just yesterday (Wednesday), the price of fine gold was Rs. 112,000 per tola, and tejabi gold was priced at Rs. 111,450.

    This update highlights the recent decrease in gold prices within the Nepalese market.