• “Nepal Life Insurance Partners with Red Cross for Dudhkunda Health Camp”

    “Nepal Life Insurance Partners with Red Cross for Dudhkunda Health Camp”


    Nepal Life Insurance, in collaboration with the Nepal Red Cross Society, conducted a free primary health camp at Dudhkunda in Solukhumbu district. This remote location sits at an elevation of 4,632 meters above sea level. The health camp was held from Shrawan 11 to 14, 2080, primarily aimed at providing essential medical services to pilgrims.

    During the event, a total of 422 individuals were able to directly benefit from the healthcare services provided at the camp. This initiative demonstrates Nepal Life Insurance’s commitment to promoting health and well-being, especially in challenging and high-altitude environments like Dudhkunda.

     

  • “Nepal Finance Limited’s 40,245 Auctioned Right Shares Now Listed on NEPSE”

    “Nepal Finance Limited’s 40,245 Auctioned Right Shares Now Listed on NEPSE”


     

    Nepal Finance Limited (NFS) recently added 40,245 units of right shares to the Nepal Stock Exchange (NEPSE). NFS had initially offered its existing shareholders a 1:0.70 ratio of right shares between the 6th to 26th Jestha, 2079. However, a substantial portion of these shares, totaling 11,36,716.187 units, remained unsold. To address this, NFS conducted an auction for the unsold shares from the 7th to the 24th Ashad, 2079. Unfortunately, only 40,245 units found buyers in the auction, and these are the shares that are now available for trading on NEPSE. As of the latest trading price (LTP), NFS shares are valued at Rs. 288 each.

  • Nepal and India Launch Cross Border QR Payments for Seamless Digital Transactions

    Nepal and India Launch Cross Border QR Payments for Seamless Digital Transactions


    Fonepay Payment Service Ltd, Nepal’s Largest Payment Network and NPCI International Payments Ltd (NIPL), the international arm of the of the National Payment Corporation of India, is now ready to launch the first Cross Border QR Payment between Nepal and India. This historic unveiling took place at the Global Fintech Fest 2023, a global gathering of fintech visionaries, thought leaders and innovators.

    Seamless Payments Across Stores Using QR Codes

    This collaboration between Fonepay and NIPL will empower millions of citizens of both nations, to securely and conveniently make instant payments through QR code across various stores by using the mobile application certified by Fonepay and NPCI.

    Both companies have now completed operational preparations and technological integration is in final process after which the companies can offer the service to their issuing and acquiring members and enable their consumers and merchants to enjoy the service. The strategic partnership between the two companies will provide a considerable boost to the digital payments’ ecosystem in both countries and will prove to be a major steppingstone for wider reach in the international market.

    Enhancing Connectivity and Fostering Prosperity

    Chairperson of Fonepay and President of F1Soft Group, Mr. Biswas Dhakal, said, “This remarkable launch marks a significant step towards enhancing financial connectivity between Nepal and India by leveraging technology for the benefit of our citizens. I am confident that this initiative will significantly contribute to the growth of trade, tourism, and economic relations between both countries, ultimately fostering prosperity and development.”

    Commitment to Fintech Innovation and Collaboration

    Speaking on the same occasion, NIPL said*, “This initiative signifies our commitment to fintech innovation and strengthening our nations’ bonds. We envision this partnership as a catalyst for greater financial inclusion and economic prosperity and are excited to embark on this journey of transformation together with Fonepay.”

  • Samsung prepares to launch 5G technology in Nepal, aiming to provide fast and reliable mobile internet through the new network

    Samsung prepares to launch 5G technology in Nepal, aiming to provide fast and reliable mobile internet through the new network


    Samsung, the leading smartphone brand in Nepal, has always brought innovation in mobile technology. They lead in foldable phones, 5G capabilities, and connected ecosystems.

    The major telecoms NTC and Ncell use different frequency bands across Nepal. Samsung supports all common bands like 900MHz 2G, 2100MHz 3G, and 1800MHz 4G. In 2020, Samsung first added support for NTC’s 800MHz Band 20 LTE when VoLTE expanded.

    Samsung devices work on all NTC and Ncell bands and frequencies:

    • 900MHz 2G
    • 2100MHz 3G
    • 1800MHz 4G
    • 800MHz Band 20 LTE

    Samsung leads in supporting all Nepal telecom bands. Their foldable, 5G, and ecosystem innovations set industry standards. Samsung partners with NTC and Ncell to enable the latest mobile technology for Nepal.

    Network Ncell Namaste
    2G Band 8 (900 MHz) Band 8 (900 MHz)
    3G Band 1 (2100 MHz) Band 1 (2100 MHz)
    4G Band 3 (1800MHz) Band 3 (1800 MHz)
    4G Band 20 (800 MHz)

    Telecommunications companies in Nepal strive to launch 5G networks. Commercialization of 5G technology by all mobile network operators enables faster internet speeds on 5G-enabled devices. Samsung readies users for 5G in Nepal. Since 2021, Samsung launched affordable 5G smartphones at various price points. Samsung partners with Nepali telecoms to introduce 5G. Recently, Samsung launched the low-cost Samsung Galaxy M14 5G smartphone. Samsung prepared a range of 5G-capable devices awaiting 5G network deployment. Samsung awaits Nepali mobile carriers launching 5G so devices activate 5G connectivity.

    Key phrases included: telecommunications companies, Nepal, 5G networks, 5G technology, mobile network operators, faster internet speeds, 5G-enabled devices, Samsung, affordable 5G smartphones, Nepali telecoms, introduce 5G, low-cost 5G smartphone, 5G-capable devices, Nepali mobile carriers, 5G connectivity.

  • “Gold Drops by Rs.700 Per Tola, Silver Down Rs.35 Per Tola in Nepalese Market Today”

    “Gold Drops by Rs.700 Per Tola, Silver Down Rs.35 Per Tola in Nepalese Market Today”


    The price of fine gold has fallen by Rs. 700 per tola compared to Tuesday’s trading. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is now valued at Rs. 1,12,000 per tola, while tejabi gold is priced at Rs. 111,450. In comparison, on Wednesday, fine gold was at Rs. 1,12,700 per tola, and tejabi gold was at Rs. 1,12,150.

    Similarly, the price of silver has also dropped today, decreasing by 35 rupees. The current price of silver stands at Rs. 1,410 per tola. In contrast, Wednesday’s silver price was Rs. 1,445 per tola.

     

  • “NEPSE Drops 28.92 Points; SPL Stands Out with Positive Circuit Amid Hydel Challenges”

    “NEPSE Drops 28.92 Points; SPL Stands Out with Positive Circuit Amid Hydel Challenges”


    The trading session started with the market index opening at 1,960.72 and hitting its highest point of 1,960.78 during the day. However, it also experienced a low point at 1,929.66 before closing at 1,932.45.

    In terms of trading activity, there were 276 different stocks traded in 32,139 transactions. The total volume of shares traded was quite significant at 3,769,033, resulting in a turnover of Rs. 1.15 Arba. The market’s overall capitalization was at Rs. 28.92 Kharba, with a float market capitalization of Rs. 10.18 Kharba.

     

  • “Final Day for Citizen Life Insurance IPO Applications; Oversubscribed 1.38 Times with 11.07 Lakh Applicants”

    “Final Day for Citizen Life Insurance IPO Applications; Oversubscribed 1.38 Times with 11.07 Lakh Applicants”


     

    Citizen Life Insurance Company Limited is concluding its public offering of 90,00,000 unit shares starting today, which commenced on the 15th of Bhadra, 2080.

    The company’s total issued capital is Rs. 3.75 Arba, and out of this, 30%, or 1,12,50,000 unit shares, are being offered to the public, including Nepalese citizens working abroad.

    Of the total offering, 10% (11,25,000 unit shares) went to Nepalese citizens working abroad, 5% (562,500 units) is reserved for company employees, and another 5% (562,500 units) is set aside for mutual funds. The remaining 90,00,000 units are available to the general public since Bhadra 15.

    These shares are being issued at Rs. 244 per share (comprising a Rs. 100 face value and a Rs. 144 premium) for the general public, while employees of the company can obtain them at a par value of Rs. 100.

    NIMB Ace Capital is overseeing the issuance. The IPO is expected to raise a total of Rs. 2.66 Arba for the company, with Rs. 1.53 Arba as the premium amount and the rest contributing to the paid-up capital.

    As per the CDSC (Central Depository and Clearing Company), there have been 11,07,048 applicants, applying for a total of 12,450,120 units worth Rs. 3.03 Arba. Consequently, the offering has already been oversubscribed by 1.38 times.

  • “Api Power Company’s 1:0.40 Rights Offering Closes Today”

    “Api Power Company’s 1:0.40 Rights Offering Closes Today”


     

    Api Power Company Limited (API) is closing the issuance of its ongoing right shares with a ratio of 1:0.40 starting from today, which began on the 31st of Shrawan. Eligible investors are urged to apply for these right shares before the end of banking hours today.

    Currently, the company has a paid-up capital of Rs. 4.13 Arba, and this will increase to Rs. 5.78 Arba after the proposed right share issue. In this new rights issue, the hydropower company will allocate shares at a ratio of 1:0.40, resulting in a total of 1 crore 65 lakh 33 thousand 137 right shares, each with a nominal value of Rs. 100.

    The Securities Board of Nepal (SEBON) granted permission for the issuance of these right shares on Ashad 6, following the company’s formal application submitted on the 6th of Chaitra.

  • “Vision Lumbini Urja IPO Open to Kaski District Locals and Nepalese Abroad; Extension Possible for Locals”

    “Vision Lumbini Urja IPO Open to Kaski District Locals and Nepalese Abroad; Extension Possible for Locals”


    Vision Lumbini Urja Company Limited has initiated an Initial Public Offering (IPO) that is open for subscription from the 19th of Bhadra until the 2nd of Ashwin, 2080. This IPO is available to project-affected locals of Kaski District and Nepalese citizens working abroad.

    It’s important to note that for residents of Kaski District, if the IPO is not fully subscribed by the early closing date, it may be extended until Ashwin 17. However, this extension option does not apply to Nepalese citizens working abroad.

    The total issued capital of the company amounts to Rs. 1.91 Arba, and out of this, 10%, equivalent to 19,12,500 unit shares valued at Rs. 19.12 Crores, has been set aside for project-affected locals of Kaski District.

     

  • “ICRA Nepal Gives Unitech Hydropower B+ Issuer Rating Signaling High Default Risk”

    “ICRA Nepal Gives Unitech Hydropower B+ Issuer Rating Signaling High Default Risk”


     

     

    ICRA Nepal Limited has given Unitech Hydropower Company Limited an issuer rating of [ICRANP-IR] B+. This rating signifies that Unitech Hydropower Company Limited carries a high risk of not meeting its financial obligations on time. It’s essential to understand that this rating is a general assessment of the company’s creditworthiness and is not tied to any specific debt instrument.

    For these rating categories, ranging from [ICRANP-IR] AA to [ICRANP-IR] C, a plus (+) or minus (-) sign may be added to indicate their position within the category. In this case, [ICRANP-IR] B+ is slightly better than [ICRANP-IR] B, while [ICRANP-IR] B- is slightly lower than [ICRANP-IR] B.

  • “NEPSE Index Drops 0.32% with Rs. 79.68 Crores Turnover; NMBMF in Positive Circuit”

    “NEPSE Index Drops 0.32% with Rs. 79.68 Crores Turnover; NMBMF in Positive Circuit”


    In today’s trading on the Nepal Stock Exchange (NEPSE), the index closed at 1,961.37 points, showing a slight decrease of 6.45 points or 0.32% compared to the previous day. Yesterday, the index had gained 7.04 points.

    The trading day started with the index opening at 1,966.8 and reached a high point of 1,974.11 during the day. However, it also dipped to an intraday low of 1,954.19 before settling at the closing value of 1,961.37.

    Throughout the trading session, there were a total of 277 stocks exchanged in 25,227 transactions, with a substantial volume of 2,480,929 shares traded, resulting in a turnover of Rs. 79.68 Crores. The market capitalization was recorded at Rs. 29.36 Kharba, while the float market capitalization stood at Rs. 10.33 Kharba.

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  • “Mai Khola Hydropower Calls AGM on 9th Ashwin to Discuss 100% Right Shares Issuance”

    “Mai Khola Hydropower Calls AGM on 9th Ashwin to Discuss 100% Right Shares Issuance”


     

    Mai Khola Hydropower Limited (MKHL) has scheduled its Annual General Meeting (AGM) for the 9th of Ashwin, 2080. The meeting will take place at Lord Party Venue in Dhumbarahi, Kathmandu, commencing at 9 a.m.

    The AGM’s agenda includes the following items:
    1) Approval of the financial reports for the fiscal year 2079/80.
    2) Endorsement of the auditor’s report, including PL statements, financial reports, and cash flow reports.
    3) Confirmation of the auditor’s appointment for the fiscal year 2080/81.
    4) Ratification of decisions and actions taken by the Board of Directors.
    5) Authorization to issue 100% right shares from the current paid-up capital of Rs. 31.21 Crores.
    6) Consideration of changing the company’s location.
    7) Amendment of the Articles of Association following an increase in the authorized, issued, and paid-up capital of the company.
    8) Miscellaneous matters.