Tag: Billion

  • “Nepal’s Economic Triumph: Robust Balance of Payments Surplus Signals Financial Stability”

    “Nepal’s Economic Triumph: Robust Balance of Payments Surplus Signals Financial Stability”


    In a positive economic development, a report from the Nepal Rastra Bank reveals that Nepal’s balance of payments (BOP) has maintained a surplus of Rs.147.11 billion, marking a significant increase compared to the Rs.20.03 billion surplus recorded in the same period the previous year, based on data ending in mid-November.

    Expressed in US Dollars, the BOP surplus for the review period reached 1.11 billion, slightly lower than the 149.6 million surplus in the corresponding fiscal year. The current account has also displayed improvement, registering a surplus of Rs.96.38 billion in contrast to a deficit of Rs.37.79 billion in the previous year. In US Dollar terms, the current account surplus reached 725.1 million, a notable contrast to the 296.1 million deficit in the same period last year.

    The report underscores a 46.6% decrease in capital transfer to Rs.1.59 billion, while net foreign direct investment (FDI) remained positive at Rs.3.64 billion, marking a significant increase from the Rs.429.2 million recorded in the previous year. Merchandise imports witnessed a 3.8% decrease, totaling Rs.512.50 billion, with notable shifts in import categories and sources.

    Trade patterns at various customs points exhibited mixed trends, with some experiencing increases while others faced decreases. The total trade deficit reduced by 3.3% to Rs.461.94 billion during the review period, contributing to an improved export-import ratio of 9.9%, down from 10.3% in the corresponding period last year.

    Merchandise imports from India, paid in convertible foreign currency, amounted to Rs.53.84 billion during the review period, showing an increase from Rs.42.69 billion in the same period the previous year. Overall, the report signals positive strides in Nepal’s economic indicators, with the BOP surplus indicating enhanced financial stability.

  • Nepal’s Government Records Revenue of Rs. 84.75 Billion from Alcohol and Cigarette Sales in the Past Fiscal Year

    Nepal’s Government Records Revenue of Rs. 84.75 Billion from Alcohol and Cigarette Sales in the Past Fiscal Year


    During the last fiscal year, the Internal Revenue Department (IRD) of Nepal reported that the government accrued a total revenue of Rs. 84.75 Billion from the sales of alcohol and cigarettes. This revenue distribution comprises Rs. 26.22 Billion from cigarettes, Rs. 25.92 Billion from alcohol, and Rs. 32.61 Billion from beer.

    The source of this revenue lies in the imposition of excise duty on cigarettes and alcohol at customs points. In the preceding year, the revenue figures for cigarettes, alcohol, and beer were Rs. 24.56 Billion, Rs. 30.41 Billion, and Rs. 31 Billion, respectively.

    The excise duty on alcohol is determined by its alcohol content strength, ranging from Rs. 1,250 to Rs. 2,120 per liter. As for unfiltered cigarettes, the excise duty is set at Rs. 730, whereas for filtered cigarettes, it varies between Rs. 1690 and Rs. 4080.

  • Kathmandu Metropolitan City Sees Significant Revenue Increase, Collects Rs 1.17 Billion in Two Months

    Kathmandu Metropolitan City Sees Significant Revenue Increase, Collects Rs 1.17 Billion in Two Months


    Over the past two months, the Kathmandu Metropolitan City (KMC) has amassed a revenue of Rs 1.17 billion, marking a significant increase of nearly Rs 230 million compared to the same period in the previous fiscal year. During the corresponding timeframe last year, KMC had collected Rs 934.1 million in revenue. The notable surge in revenue collection has been attributed to the initiation of revenue collection by KMC’s ward offices, as stated by Dhruba Kafle, Chief of the Revenue Department at KMC.

    This growth in revenue has coincided with a notable rise in the number of taxpayers, which can be attributed to all 32 wards under KMC now offering tax collection services. It’s been reported that an increased number of taxpayers are paying property tax and house rent, reflecting a boost in compliance. KMC administers tax collection under nine different categories, including property tax, house rent tax, entertainment tax, and advertisement tax, among others.

    In the current fiscal year, KMC has set an ambitious target to collect Rs 10.41 billion in revenue, highlighting its commitment to continued financial growth and service provision.

  • NEPSE Index Gains 0.71% in Trading Session with Notable Stock Movements

    NEPSE Index Gains 0.71% in Trading Session with Notable Stock Movements


    During the most recent trading session on the Nepal Stock Exchange (NEPSE), the NEPSE Index concluded at 1,864.62 points, marking a significant increase of 13.18 points or 0.71% when compared to the previous day’s closing figure. The index had experienced a notable loss of 23.16 points during the preceding trading session.

    The day’s trading began with the index opening at 1,851.18 points, subsequently reaching an intraday low of 1,851.03 points. However, it managed to climb to an intraday high of 1,884.67 points before the trading session ended.

    In the course of today’s trading activities, a total of 289 different stocks were traded through 45,456 transactions. The total volume of shares exchanged amounted to 3,813,233 units, resulting in a collective turnover of Rs. 1 Arba. The overall market capitalization was reported at Rs. 28.61 Kharba, and the float market capitalization stood at Rs. 10.03 Kharba.

    Hathway Investment Nepal Limited (HATHY) boasted the highest turnover for the day, with transactions totaling Rs. 4.62 crores, and it closed at a market price of Rs. 284.

    Furthermore, NIBL Pragati Fund (NIBLPF) exhibited the most substantial gain, with an impressive 7.35% increase, closely followed by Swet-Ganga Hydropower & Construction Limited (SGHC), which recorded a gain of 6.91%.

    On the flip side, Hathway Investment Nepal Limited (HATHY) experienced the most significant loss, falling by 8.53%.

    Regarding sector indices, three sectors concluded in the red, with the “Trading Index” showing the most substantial loss at 1.25%. Conversely, the “Finance Index” demonstrated the highest gain, recording a 1.30% increase.

  • NRB Governor Discusses Power Export and Hydropower Sector Development with IPPAN

    NRB Governor Discusses Power Export and Hydropower Sector Development with IPPAN


    Maha Prasad Adhikari, the Governor of the Nepal Rastra Bank (NRB), has emphasized that Nepal’s trade deficit could be effectively addressed if the country could export power worth Rs 130 billion annually. In a meeting with the office-bearers of the Independent Power Producers’ Association, Nepal (IPPAN), Governor Adhikari highlighted the potential of power export as a means to reduce the trade deficit.

    Governor Adhikari pledged that the Nepal Rastra Bank is committed to facilitating the development of the hydropower sector in the country. During the meeting, IPPAN President Ganesh Karki proposed a requirement for banks and financial institutions to allocate 20% of their total investments to the energy sector. Governor Adhikari responded by expressing confidence in banks’ ability to invest, even if Nepal were to generate 20,000 megawatts of electricity in the next decade.

    IPPAN, however, stated that they require around Rs 555 billion within five years to develop projects for generating approximately 3,700 megawatts of power. In a 10-year timeframe, this requirement increases to about Rs 2,055 billion, assuming power export agreements with India are considered. The figure rises to over Rs 3,750 billion if an additional 25,000 megawatts of electricity, as per the Energy Decade declaration, were to be produced.

    IPPAN requested that the NRB’s loan provision, which currently allows projects producing over 200 megawatts to receive loans with just a 1% addition to the base interest rate, be extended to all hydropower projects. They also highlighted banks’ reluctance to invest further in hydropower due to NRB directives, which prevent the distribution of interest income during the construction phase as dividends.

    Furthermore, IPPAN called for the continued sharing of bonuses generated during the construction phase and urged the government to facilitate the introduction of new financial instruments like green bonds, climate bonds, or sovereign bonds from international markets. They sought the NRB’s support for refinancing in clean energy due to high interest rates imposed by financial institutions in the energy sector.

    In response, the NRB governor acknowledged that matters related to bonds fall under the Finance Ministry’s jurisdiction but expressed the central government’s willingness to facilitate such initiatives. IPPAN also urged the NRB to introduce provisions allowing banks and financial institutions to invest in energy production as capital and requested eased rules and provisions related to investment, bonuses, and withdrawal of investments for international investors to achieve their ambitious goal of generating 25,000 megawatts of electricity and importing 15,000 megawatts in the next decade.

    The IPPAN delegation included Vice President Mohan Kumar Dangi and former President Shailendra Guragain, among others, while the NRB meeting included Deputy Governor Bam Bahadur Mishra, executive directors Dr. Gunakar Bhatta, and Dev Kumar Dhakal.

  • “NEPSE Witnesses 10.45 Billion Rupees Loss in a Week: Technical Analysis, Sector Comparison, and Key Highlights”

    “NEPSE Witnesses 10.45 Billion Rupees Loss in a Week: Technical Analysis, Sector Comparison, and Key Highlights”


     

    Trend analysis is a technique used in technical analysis to forecast future movements by examining current trend data. Looking at the daily charts, we can see that the short-term trend is downward (bearish), while the medium-term trend is upward (bullish).

    This Wednesday, there was a significant increase in points, with the highest intraday gain reaching 41.06 points. This gain was accompanied by a turnover of Rs 1.88 Arba. However, when we consider the entire week, the total turnover amounted to Rs 10.80 Arba.

    In summary, trend analysis helps predict future trends by analyzing current data. The recent daily charts indicate a downward short-term trend and an upward medium-term trend. On Wednesday, there was a notable gain of 41.06 points with a turnover of Rs 1.88 Arba, contributing to a total weekly turnover of Rs 10.80 Arba.

  • “NEPSE Index Drops 38.37 Points, Rs. 56 Billion Investment Erased in a Day”

    “NEPSE Index Drops 38.37 Points, Rs. 56 Billion Investment Erased in a Day”


     

    In today’s trading, the Nepal Stock Exchange (NEPSE) Index closed at 2,051.47 points, showing a loss of 38.37 points or 1.83% from the previous day’s close. The session started at 2,095.43 and reached a high of 2,101.90, but later dipped to a low of 2,041.69 before ending at 2,051.47.

     

  • SEBON Achieves Record IPO Issuance of 22 Billion in FY 2079/80; Listed Companies Reach 81.61 Arba Market Cap.

    SEBON Achieves Record IPO Issuance of 22 Billion in FY 2079/80; Listed Companies Reach 81.61 Arba Market Cap.


    In the financial year 2079/80, the Securities Board of Nepal (SEBON) achieved a remarkable milestone by approving initial public offerings (IPOs) worth over 22 billion rupees. This surpasses the previous record set in the financial year 2077/78, when SEBON allowed IPOs worth 15 billion 18 crores. Chairman Ramesh Hamal led the effort, breaking the previous record set during Bhishma Raj Dhungana’s tenure.

     

  • “CorporatePay Surpasses NRs 50 Billion Transaction Milestone in Jestha 2080”

    “CorporatePay Surpasses NRs 50 Billion Transaction Milestone in Jestha 2080”


     

    In the month of Jestha, 2080, the monthly transactions through CORPORATEPAY exceeded NRs. 50 Billion, marking the highest amount for a single month since its launch in Magh 2077. The total transaction value for the current fiscal year has surpassed NRs. 421 Billion, a significant increase from the previous fiscal year’s NRs. 190.5 Billion. The growing usage and acceptance of CORPORATEPAY as the primary B2B payment channel by businesses and institutions have played a crucial role in doubling the transaction volume.

     

  • Nepal’s Trade Deficit Reaches Rs 1337 Billion in 11 Months

    Nepal’s Trade Deficit Reaches Rs 1337 Billion in 11 Months


     

    In the 11 months of the fiscal year 2080/081 BS, Nepal’s trade deficit has reached Rs 1337.39 billion. According to the data released by the Department of Customs, imports amounted to approximately Rs 1481 billion, while exports stood at Rs 143.58 billion until the end of the month Jestha. However, it is important to note that the volume of foreign trade in the country has decreased in the current fiscal year compared to the previous fiscal year.