Latest NEPSE and Share Market News - Page 73
Nepal Rastra Bank Unveils Today's Foreign Exchange Rates; US Dollar Buying Rate Fixed at रू 150.74
Nepal Rastra Bank (NRB) has released the official foreign exchange rates for today, Friday, positioning the US Dollar selling rate at रू 151.34, while major European currencies like the Euro and UK Pound Sterling hover near the रू 172 and रू 199 marks respectively.
NRB Faces Pressure to Align Upcoming Monetary Policy With Private Sector-Friendly Budget Propositions
Despite an exceptionally strong external sector fueled by record remittance inflows and robust foreign exchange reserves, Nepal’s domestic economy remains trapped in a sluggish state, prompting private sector leaders to demand an investment-friendly upcoming Monetary Policy for FY 2083/084 to revive business confidence and stimulate market demand.
Nepal Spends Rs. 2.73 Kharba on Petroleum Imports in 11 Months Despite Volume Drop
Driven by global inflation, a surging US Dollar, and war-induced market instability, Nepal's fuel import costs climbed to Rs. 2.73 Kharba in the first 11 months of the fiscal year, even though the country imported less total volume.
Nepal Plans Seasonal Electricity Tariffs to Offset Controversial 5% Budget VAT
Nepal is moving toward a seasonal electricity pricing system, offering cheaper rates during the high-production rainy season. The strategy aims to encourage local consumption of surplus hydropower and ease public anger over a newly proposed 5 percent VAT on domestic electricity bills.
Nagdhunga-Muglin Highway Expansion Faces New Delays and Looming Deadline Extensions
The crucial 95-kilometer Nagdhunga-Muglin road expansion remains incomplete after five years of work. Citing fuel inflation, bitumen shortages, and slow utility pole relocation, officials are preparing yet another round of deadline extensions as public frustration mounts.
Daily Forex Update: Nepal Rastra Bank Fixes Today's Currency Exchange Rates
Nepal Rastra Bank has published today's official exchange rates, setting the US Dollar at Rs. 151.19 (buying) / Rs. 151.79 (selling) and Euro at Rs. 173.14 (buying) / Rs. 173.83 (selling).
Acting CEO Mukesh Kumar Kapoor Resigns from Himalayan Reinsurance
Himalayan Reinsurance Limited's Deputy and Acting CEO, Mukesh Kumar Kapoor, has stepped down from his position, submitting his formal resignation on Ashadh 8, 2083.
Leadership Shift: Chhimek Laghubitta Appoints Rishiraj Joshi as New Board Chairperson
Chhimek Laghubitta Bittiya Sanstha Limited has announced the unanimous election of director Rishiraj Joshi as its new board chairperson during the company's 339th board meeting.
NEPSE Slides Deep: Benchmark Index Drops 26 Points as Turnover Touches Rs. 4.36 Arba
The Nepal Stock Exchange (NEPSE) faced a double-digit correction today, shedding 26.16 points to settle at 2,674.48. While hydropower gainers hit positive circuits, the overall market sentiment remained bearish with a turnover of Rs. 4.36 Arba.
New Company Bill Mandates NEPSE and Brokerage Firms to Convert into Public Limited Companies
A groundbreaking provision in the draft of the proposed Company Act, 2083 requires Nepal's stock exchange and all private broker companies to transform into public limited companies to boost transparency, though an immediate IPO remains optional under company law.
Gold and Silver Prices Drop Sharply in the Nepalese Market
Both gold and silver saw a significant decline in Nepal on Tuesday (Asar 8), with gold dropping by Rs. 1,600 per tola and silver falling by Rs. 140 per tola.
Tragedy at Ras Laffan: 13 Dead, Dozens Injured—Including Nepalese Workers—in Qatar Gas Facility Blast
A massive explosion and fire at Qatar's Barzan gas facility has left 13 dead and 66 injured, including workers from Nepal. Officials have confirmed that the incident was a technical accident and wider LNG exports remain unaffected.