Latest NEPSE News & Share Market Updates
Barahi Hydropower Promoter Announces Intention to Sell 24,780 Shares
Barahi Hydropower Public Limited (BHPL) has disclosed that one of its promoter shareholders has expressed an intention to sell shares held in the company within the next three months. The company disclosed in accordance with a directive issued by the Securities Board of Nepal (SEBON) on Bhadra 9, 2083, which requires a promoter shareholder intending to sell 5% or more of their shareholding to inform the concerned company at least 15 days before the proposed sale. According to the company, an application expressing an intention to sell shares within the next three months was received on Ashwin 5, 2083 from promoter shareholder Laxmi Narayan Parajuli. Parajuli currently holds 24,780 shares of Barahi Hydropower Public Limited. The company has disclosed the information to comply with the regulatory requirement regarding the sale of shares by promoter or major shareholders. The disclosure follows SEBON's directive issued, which requires shareholders holding 5% or more of the company's shares to provide advance information before selling their holdings. The company has clarified that the disclosure represents the shareholder's intention to sell shares within the next three months and does not itself confirm that the shares have already been sold.
Cyber Attack Rocks NEPSE Broker Systems: Investigation Committee Probes Critical Vulnerabilities
The Nepali capital market was shaken by a significant cyber attack on Monday, prompting immediate action from regulatory bodies. Following the incident, the Securities Board of Nepal (SEBON) swiftly formed an investigation committee, while the Nepal Police has also initiated its own probe into the matter. This dual-pronged investigation aims to uncover the full extent of the damage, determine if investor data was compromised, ascertain whether the attackers merely disrupted systems or altered/destroyed information, and ultimately identify those responsible for the sophisticated breach. The incident has raised serious concerns about the cybersecurity posture of the nation's financial infrastructure and its potential implications for investor confidence. The legal ramifications of such an attack are substantial. If investigations reveal unauthorized access to computer or information systems, the Electronic Transactions Act, 2063, specifically Section 45, could be invoked. This section prescribes imprisonment, fines, or both for unauthorized access. Furthermore, if evidence emerges that the attackers destroyed, altered, or rendered unusable any computer system, information, data, or programs—a common characteristic of ransomware attacks—Section 46 would apply. Investigators will particularly scrutinize this aspect, given the nature of modern cyber threats. The unauthorized disclosure of electronically stored records or information, if proven, could also lead to charges under Section 48, pertaining to privacy violations. Beyond the realm of cybercrime, the incident could also trigger investigations into securities-related offenses. Should the probe uncover that individuals gained unauthorized access to confidential share trading information and subsequently used it for personal gain or through proxy accounts, the matter would extend beyond a mere cyber incident. Such actions could fall under the purview of insider trading regulations as per the Securities Act, 2063. Moreover, if the attackers are found to have manipulated share prices or trading volumes, influenced investors with false or misleading information, or engaged in fraudulent transactions, other provisions of the Securities Act could be brought into play. This highlights a critical distinction: the act of breaching a computer system and the act of leveraging that breach for illegal financial gain in the stock market are separate offenses, both potentially applicable in this single incident. To thoroughly address the incident and recommend robust preventative measures, the investigation committee must meticulously answer ten critical questions: 1. **Entry Point Analysis**: What was the exact method of entry for the attackers into the data hub's system? Was it through weak passwords, user error, infected devices, third-party service providers, software vulnerabilities, or another vector? Identifying the root cause is paramount for effective security enhancements. 2. **Scope of Access**: Which systems did the attackers manage to access? Was the compromise limited to a single data hub server, or did it extend to trading management systems, central depository services, payment gateways, and other critical infrastructure? 3. **Data Integrity Check**: Has investor data been stolen, altered, or destroyed? This is the most sensitive question, requiring independent digital forensics to verify the integrity of customer names, accounts, trading history, orders, funds, securities ownership, and other personal details. 4. **Trading Interference**: Did the attackers interfere with any share transactions or trading orders? If trading orders were altered, halted, or created through unauthorized system access, this transcends a mere cybersecurity incident and becomes a grave matter concerning the integrity of the entire securities market. 5. **Financial Motivation**: Is there evidence that the attackers sought financial gain? Was a ransom demanded, and if so, how and where was it requested? Was pressure applied to transfer funds via digital currency or other means? 6. **Structural Vulnerability**: How did a situation arise where 72 out of 90 brokers were dependent on a single data infrastructure? This presents a significant structural risk where a problem in one location can impact a large segment of the market. The committee must investigate not only the technical but also the regulatory reasons behind this setup. 7. **Disaster Recovery Efficacy**: Why did data backup and alternative systems fail to become operational immediately? How effective were the provisions for an alternative data center, a separate network, and emergency operational procedures for critical financial infrastructure? Was the emergency plan merely on paper or regularly tested in practice? 8. **Security Audit History**: How frequently were security audits and risk assessments conducted for the data center and broker systems? Were vulnerabilities identified previously, and if so, why were they not rectified? 9. **Incident Response Coordination**: How quickly was information exchanged among relevant stakeholders—the data hub, brokers, NEPSE, CDSC, SEBON, Nepal Rastra Bank, police, and other cybersecurity agencies—after the incident was detected? Was there a clear incident management protocol in place? 10. **Future Prevention Strategy**: What concrete measures will be adopted to prevent similar attacks in the future? This is perhaps the most crucial question. While identifying and punishing culprits is necessary, it alone won't solve the systemic issue. A robust plan must include reducing reliance on a single data center, establishing alternative systems, conducting regular cyber exercises, implementing independent security audits, and building a market structure capable of operating even during emergencies. The incident affecting 72 brokers is not merely a coincidence but potentially a symptom of structural weaknesses within Nepal's capital market. The findings of this investigation will be critical in shaping future cybersecurity policies, enhancing market resilience, and restoring investor confidence. It is imperative that the committee's recommendations lead to tangible improvements, ensuring the long-term stability and security of the Nepali stock exchange. Separately, the Nepal Stock Exchange had announced that the market would remain closed on Ashwin 5, Monday.
Transport Sector Erupts in Protest Following Driver's Tragic Death, Demands Justice and Reforms
The transport sector in Nepal has been plunged into turmoil following the tragic death of a driver, Arjun Dong, who succumbed to injuries after self-immolation in a bus. This devastating incident has ignited widespread protests, with transport entrepreneurs and workers taking to the streets, demanding justice, accountability, and systemic reforms. On Tuesday, a significant demonstration unfolded outside Kirtipur Burn Hospital, where Dong had been receiving treatment, spearheaded by the Independent Drivers' Association Nepal. The catalyst for this escalating unrest was the harrowing event that occurred on Monday in Tripureshwor, Kathmandu. Driver Arjun Dong, a resident of Makwanpur, tragically set himself ablaze inside a bus, sustaining critical burn injuries. Despite immediate medical attention at Kirtipur Burn Hospital, he passed away later that night. His death has not only devastated his family but has also galvanized the entire transport community, who view the incident as a stark symbol of the deep-seated grievances and challenges faced by drivers and transport workers across the nation. Protestors at Kirtipur Burn Hospital voiced a series of urgent demands aimed at addressing both the immediate tragedy and the broader issues plaguing the sector. Central to their demands is a call for an impartial and thorough investigation into the circumstances surrounding Dong's self-immolation. They insist that those found responsible for any negligence or instigation leading to the incident must be brought to justice and punished according to the law. Furthermore, the protestors are demanding appropriate and timely compensation for Dong's grieving family, recognizing the profound loss and economic hardship they now face. Beyond the immediate incident, the demonstrations also highlighted long-standing complaints against the traffic police. Participants accused traffic authorities of unnecessary harassment and excessive enforcement, which they claim adds immense pressure and stress to drivers' already challenging working conditions. To address these systemic issues, the Independent Drivers' Association Nepal and other participating groups are advocating for the formation of a dedicated Drivers' Commission. Such a body, they argue, would be crucial for conducting impartial inquiries into incidents, mediating disputes, and ensuring fair treatment for transport workers. The gravity of the situation was underscored by Navaraj Dahal, General Secretary of the Joint Trade Union Coordination Center (JTUCC). Dahal vehemently criticized the state, accusing it of perpetrating injustice and oppression against vehicle drivers and co-drivers. He issued a stern warning, stating that if the government fails to provide adequate relief to the victims and neglects to punish the culprits, the workers would have no option but to escalate their agitation. "We cannot tolerate this injustice and oppression committed by the state against drivers and co-drivers," Dahal asserted, emphasizing the potential for the movement to take a "fierce form" if their voices remain unheard, holding the state solely responsible for any ensuing consequences. For investors and the broader economy, the escalating social unrest within the critical transport sector presents a significant concern. Nepal's transport network is the backbone of its supply chain, facilitating the movement of goods and people across the country. Prolonged strikes or widespread protests could severely disrupt economic activities, impacting everything from daily commutes to the delivery of essential commodities. Such instability can erode investor confidence, deterring both domestic and foreign investment at a time when economic recovery and growth are paramount. A swift, transparent, and just resolution to the current crisis is therefore not just a matter of social justice but also an economic imperative to maintain stability and ensure business continuity. The government's response in the coming days will be crucial in determining whether this unrest can be contained or if it will spiral into a more widespread challenge for national stability and economic progress.
Bikash Hydropower Company Limited Retains BBB- Credit Rating from ICRA Nepal
ICRA Nepal Limited has reaffirmed the issuer rating of Bikash Hydropower Company Limited (BHCL) at [ICRANP-IR] BBB- (pronounced "ICRA NP Issuer Rating Triple B Minus"), while continuing to keep the company on "Watch with Negative Implication." The BBB- rating indicates a moderate degree of safety regarding timely servicing of financial obligations, meaning the company carries moderate credit risk but remains capable of meeting its financial commitments.
Over Rs 15 Billion Available in Disaster and Relief Funds Amid Bhote Koshi Flood Response
More than Rs 15 billion is currently available across the Prime Minister’s Disaster Relief Fund and the Prime Minister’s Relief Fund as financial support continues to be mobilized for people affected by the floods in the Bhote Koshi River in Rasuwa. According to the Office of the Prime Minister and Council of Ministers, the Prime Minister’s Disaster Relief Fund has a substantial balance across accounts maintained at various commercial banks, along with foreign currency reserves. The Disaster Relief Fund currently holds Rs 11.27 billion in accounts maintained at nine commercial banks. The balance stands at Rs 11.27 billion, 2 lakh, 60 thousand and 685. In addition, the fund has US dollar-denominated accounts at Himalayan Bank and Laxmi Sunrise Bank, holding a combined balance of USD 24.80 million. The government has stated that the combined balance across all the accounts of the relevant relief funds stands at Rs 15.06 billion, 56 lakh, 28 thousand and 167. The funds are being used to support disaster-affected communities and facilitate relief and recovery efforts following natural disasters, including the recent flooding in the Bhote Koshi River area of Rasuwa. The government has already released Rs 1 billion from the Disaster Relief Fund for flood-affected areas. The continued availability of funds is expected to support ongoing relief operations and provide financial assistance to communities affected by the Bhote Koshi floods. The government has been coordinating the mobilization of resources through the designated disaster and relief funds.
Heavy Rainfall Likely in Bagmati Province from Ashwin 9 to 11, Authorities Urge High Alert
The Bagmati Province Government’s Ministry of Internal Affairs, Law and Cooperatives has urged residents to remain on high alert as heavy rainfall is forecast across various parts of the province from Ashwin 9 to 11. The ministry issued a public notice on Tuesday, calling on residents to take necessary precautions and make adequate preparations in view of the potential risks associated with the forecast weather conditions. According to the Department of Hydrology and Meteorology, various parts of Bagmati Province are likely to experience heavy rainfall accompanied by thunderstorms, lightning and strong winds during the period. The ministry warned that heavy rainfall could increase water levels in rivers and streams, raising the possibility of flash floods, landslides and inundation in vulnerable areas. The ministry has also cautioned that rainfall could affect both road and air transportation. People planning to travel have been advised to check road and weather conditions before beginning their journey. Residents living along riverbanks and streams, in landslide-prone areas, on steep slopes and in locations vulnerable to inundation have been urged to exercise particular caution. Authorities have advised people to move to nearby safe locations promptly if signs of danger emerge and to coordinate with local governments and security agencies when necessary. The ministry has advised the public to avoid long-distance and nighttime travel unless absolutely necessary during the period of heightened weather risks. It has also urged families and communities to pay special attention to the safety of children, senior citizens, persons with disabilities, pregnant women and people with illnesses. Residents have been encouraged to move livestock, food supplies, medicines, important documents and other essential belongings to safe locations in advance. Provincial government agencies, local governments, security agencies, volunteers and other stakeholders have been directed to remain alert and make the necessary preparations to respond to possible emergencies. Authorities have also been instructed to make arrangements for the timely evacuation of people living in high-risk areas to safer locations if required. The ministry has urged residents to regularly follow official weather forecasts, early warnings and advisories issued by the Department of Hydrology and Meteorology, the federal government, provincial government, local governments and security agencies. For information and assistance related to rainfall and floods, residents can contact 1155. The Disaster Assistance number is 1234, while Nepal Police can be reached at 100 and the Armed Police Force, Nepal at 1114. The ministry’s disaster contact person can also be reached at 9769761214. The ministry has urged the public to rely only on official information and not to believe or spread rumors during the period of heightened weather risks.
Everest Bank Bolsters National Presence with 134th Branch and New Provincial Office in Dhangadhi
Everest Bank, a prominent name in Nepal's financial sector, has significantly expanded its footprint by inaugurating its 134th branch at Campus Chowk in Dhangadhi Sub-Metropolitan City, Kailali. This strategic move, marked by a grand opening on Ashoj 5, 2083 (corresponding to September 21, 2026, assuming a typical year conversion), also saw the relocation and establishment of its new Sudurpaschim provincial office within the same state-of-the-art facility. This dual expansion underscores Everest Bank's unwavering commitment to enhancing financial accessibility and fostering regional economic development across Nepal. The inauguration ceremony was a notable event, jointly officiated by Mr. Pushkar Ojha, President of the Dhangadhi Chamber of Commerce and Industry, and Dr. Bal Gopal Vaidya, Chairman of Everest Bank. Their presence highlighted the collaborative spirit between the banking sector and local business communities, crucial for sustainable growth. The new facility is designed to offer a comprehensive suite of banking services, catering to the diverse needs of individuals, businesses, and agricultural enterprises in Dhangadhi and its surrounding areas. From traditional savings and lending products to modern digital banking solutions, the branch aims to be a one-stop financial hub for the local populace. The choice of Dhangadhi for this significant expansion is particularly strategic. As the provincial capital of Sudurpaschim Province, Dhangadhi serves as a vital economic and administrative hub, experiencing rapid urbanization and commercial growth. The region, rich in agricultural potential and increasingly seeing infrastructure development, presents a fertile ground for banking services. By establishing its 15th branch in Sudurpaschim Province with this latest addition, Everest Bank is not merely opening a new office; it is deepening its roots in a region poised for substantial economic upliftment. This expansion is a clear indicator of the bank's confidence in the region's future prospects and its dedication to being a catalyst for local prosperity. The relocation of the Sudurpaschim provincial office to this new, modern building signifies an operational upgrade, promising more efficient coordination and oversight of the bank's extensive network within the province. This consolidation of resources is expected to streamline operations, improve service delivery, and enhance the bank's capacity to respond to regional market dynamics effectively. For investors, such strategic expansions demonstrate a proactive management approach focused on market penetration and long-term value creation. It reflects a robust growth strategy that seeks to capture new customer segments and increase market share in key geographical areas. The event garnered significant attention from local dignitaries and community leaders, including Dhangadhi-8 Ward Chairman Mr. Jugram Chaudhary, Everest Bank's CEO Mr. Sudesh Khaling, and Sudurpaschim Province Head Mr. Yagya Raj Timilsina. Their attendance, alongside local business representatives, bank employees, and residents, underscored the community's enthusiasm and the perceived positive impact of the new branch. In an era where digital banking is rapidly evolving, the continued emphasis on physical branch expansion, especially in semi-urban and rural areas, highlights the importance of personalized service and trust-building in the Nepali banking landscape. Physical branches remain crucial touchpoints for many customers, particularly for complex transactions, financial advisory, and for those less familiar with digital platforms. Everest Bank's consistent growth and strategic branch network expansion are testaments to its strong market position and commitment to national development. For investors, this move signals a healthy growth trajectory and a management team focused on sustainable expansion. It reinforces the bank's commitment to contributing to Nepal's financial inclusion agenda by making banking services more accessible to a broader population, thereby stimulating local economies and empowering communities. This expansion is not just about increasing numbers; it's about strengthening the financial infrastructure of the nation, one branch at a time, and ensuring that the benefits of modern banking reach every corner of Nepal.
Nepal's Transport Sector Demands Judicial Probe into Driver's Self-Immolation, Threatens Widespread Protests
In a significant development that underscores growing social and economic tensions, six prominent federations and unions representing Nepal's vital transport sector have collectively demanded the formation of a judicial inquiry committee. This committee is sought to thoroughly investigate the tragic self-immolation of a bus driver in Tripureshwor, Kathmandu, an incident that has sent shockwaves across the nation and ignited calls for justice and reform. The joint statement, issued by the Nepal Truck Transport Entrepreneurs Federation, Nepal National Transport Federation, Nepal Transport Independent Workers' Organization, Public Transport Central Federation, All Nepal Transport Workers' Union, and Nepal Transport Workers' Union, emphasizes that the incident should not be dismissed as a mere dispute between a driver and traffic police. Instead, the organizations are calling for a comprehensive investigation into the entire sequence of events, from its inception, to uncover the underlying circumstances that led to such a desperate act. According to the joint statement, the tragic incident unfolded on Ashwin 5 (September 22). A bus, bearing registration number Ba.5kha 4274, was en route from Mulpani to Thankot Bhanjyang with passengers when it was stopped by traffic police near Tripureshwor Eye Hospital for allegedly honking. Following this, additional police personnel arrived, and the bus was reportedly halted in front of the Passport Department, where passengers were deboarded. The driver was then allegedly detained for approximately two hours, after which attempts were made to take him to the Kathmandu Valley Traffic Police Office in Baggi Khana. The vehicle owner, quoted in the statement, claims the driver refused to comply, asserting his innocence and reporting mental pressure and harassment from the traffic police. Shortly after the owner informed the police about the driver's distressed state, the driver tragically locked himself inside the bus, set himself ablaze, and the vehicle subsequently caught fire. The transport organizations are demanding an impartial and factual investigation to determine how such a dire situation was allowed to escalate to self-immolation. To ensure a thorough and unbiased investigation, the federations have specifically called for the examination of CCTV footage from the incident site and surrounding areas, testimonies from eyewitnesses, detailed phone contact records, and a scrutiny of the roles played by the concerned police officers. This level of detail in their demands highlights a deep-seated mistrust in the current investigative processes and a strong desire for accountability. Beyond the immediate investigation, the transport sector has put forth a series of broader demands aimed at improving working conditions and addressing systemic issues. These include immediate relief, appropriate compensation, and rehabilitation for the deceased driver's family, as well as compensation for the owner of the fire-damaged vehicle. Furthermore, they are advocating for the employment of transport workers under formal labor contracts, ensuring their inclusion in social security schemes, and establishing a 24-hour complaint and hearing system to address instances of abuse and unnecessary harassment by traffic police. The organizations also seek the creation of a mechanism for regular monitoring to ensure that vehicle checks and penalties are conducted strictly according to legal procedures and codes of conduct. They urge the government to make traffic policing more technology-friendly and public-oriented, and crucially, to incorporate the workplace and mental safety of transport workers into state policy, alongside existing road safety measures. In a stern warning, the joint statement indicates that a 'Joint Struggle Committee,' comprising the presidents of all six organizations, has been formed to press these demands. Should their calls not be addressed promptly, the committee has threatened to announce further peaceful and lawful protest programs. This potential for widespread industrial action could significantly disrupt Nepal's supply chains, impact daily economic activities, and further strain public-government relations. For investors, such social unrest and the threat of sector-wide strikes signal increased operational risks and potential economic instability, warranting close monitoring of the situation and its resolution.
Nepal's Treasury Swells Amidst Stagnant Development Spending: A Paradox of Plenty
Nepal's economy is currently grappling with a peculiar paradox: a burgeoning government treasury coexisting with alarmingly low development expenditure. Recent data from the Nepal Rastra Bank (NRB) for the first month of the current fiscal year (2083/84) reveals that the government's cash reserves have swelled to an impressive NPR 361.81 billion by the end of Shrawan (mid-August). This marks a substantial increase of NPR 84.35 billion from the NPR 277.46 billion recorded at the end of Ashar (mid-July). However, this abundance of funds stands in stark contrast to the federal government's capital expenditure, which amounted to a mere NPR 1.33 billion during the same period. This significant disparity raises critical questions about the government's spending capacity and the efficiency of its budget implementation system. The implications of this fiscal imbalance are far-reaching for Nepal's economic landscape. With sluggish market demand and a private sector hesitant to take on new loans for investment, the government's role in stimulating economic activity becomes paramount. Construction entrepreneurs, a vital component of the economy, are reportedly awaiting payments, further exacerbating the slowdown. Despite collecting NPR 92.23 billion in revenue in Shrawan, the federal government's total expenditure was limited to NPR 41.89 billion, a 9.5% decrease compared to the same period last fiscal year. Of this, only a minuscule 3% — NPR 1.33 billion — was allocated to capital projects, with the bulk going towards administrative operations (NPR 21.40 billion) and financial management, primarily debt servicing (NPR 19.15 billion). This indicates that the government, despite possessing ample resources, is failing to inject money into the market, thereby missing a crucial opportunity to generate demand and foster economic dynamism. A deeper dive into the capital expenditure figures reveals an even more concerning trend. The NPR 1.33 billion spent on development projects in Shrawan translates to an average daily expenditure of approximately NPR 42.9 million across the nation. This figure underscores the extremely slow pace of development budget implementation in the initial month of the fiscal year. The construction sector, which directly benefits from increased government spending on infrastructure projects like roads, bridges, buildings, water supply, and irrigation, is consequently suffering. A lack of government expenditure in these areas dampens demand for essential materials such as cement, steel, construction equipment, transportation, and labor, making it difficult for the private sector alone to drive economic growth. The problem extends beyond the federal level. Provincial governments are exhibiting an even weaker spending performance. Across all seven provinces, only NPR 14 million was spent throughout Shrawan, despite having mobilized NPR 6.55 billion in resources during the same period. This includes NPR 3.83 billion from federal financial transfers and revenue sharing, and NPR 1.75 billion from their own internal sources. This clearly demonstrates that the issue is not a shortage of funds but rather a structural weakness in budget execution at both federal and provincial levels. Concurrently, the banking system is flush with investable funds, indicating ample liquidity. However, the private sector's demand for credit remains subdued. According to the Nepal Rastra Bank, private sector credit grew by a mere 0.4% in Shrawan. This reluctance by businesses to borrow for new investments, even with available funds in banks, signals weak demand and investment sentiment across the economy. In such a scenario, robust government capital expenditure could have created additional demand and stimulated the market. Instead, both the banking system's liquidity and the government's cash reserves are largely stagnant, failing to adequately enter the economy's productive cycle. This early-year sluggishness in public spending is not a new phenomenon in Nepal, often leading to the notorious "Asare spending" — a rush of expenditure towards the end of the fiscal year. If project implementation, tender processes, budget authorization, and payment systems are not expedited from the outset, the pressure to spend will inevitably mount towards the year-end. Such last-minute spending often compromises quality, transparency, and the overall return on investment, raising questions about the effectiveness of public funds. The current financial data unequivocally highlights that the core issue is not a lack of money, but rather a profound challenge in the capacity for budget implementation and public expenditure management. In an economy with weak demand, government capital expenditure serves as a critical tool to inject money into the market, create employment opportunities, and incentivize private sector investment. However, by hoarding funds in the treasury and curtailing spending, the government is effectively preventing these potential positive impacts from reaching the broader economy. If this initial sluggishness persists, the government may only be able to improve its budget execution figures by accelerating spending at the year-end. Yet, the fundamental question of how much real production, employment, and capital formation such spending truly adds to the economy will remain unanswered.
Nepal and Malaysia Engage in High-Level Talks to Dismantle Foreign Employment Syndicate
A significant diplomatic breakthrough has been achieved in the protracted dispute surrounding Malaysia's foreign worker recruitment system, with discussions now escalating to the highest levels of government between Nepal and Malaysia. In a recent telephone conversation, Nepal's Prime Minister engaged directly with his Malaysian counterpart, Dato' Seri Anwar Ibrahim, to address and unequivocally demand an end to the pervasive syndicate and middlemen system that has long plagued the recruitment process for Nepali migrant workers. According to the Prime Minister's Office, the Nepali Prime Minister underscored the critical need to foster a dignified, transparent, and exploitation-free labor relationship between the two nations. He made it clear that a system where worker recruitment is controlled by a limited group or intermediaries is entirely unacceptable to Nepal. "We do not condone and cannot accept syndicates and the middleman system. This directly harms our impoverished workers," the Nepali Prime Minister conveyed to his Malaysian counterpart. He further urged, "Therefore, I request your Labor Minister to engage in direct talks with our Labor Minister and take the necessary steps to eliminate this problem permanently." Malaysian Prime Minister Anwar Ibrahim responded positively to Nepal's stance, affirming his own strong opposition to syndicates and exploitative practices. Ibrahim stated, "I am also completely against such a flawed and exploitative system. I will immediately instruct our Labor Minister to discuss this matter with his Nepali counterpart and find a concrete solution." **The Genesis of the Dispute: FWCMS and the '25 Agency' Monopoly** The core of this controversy emerged on August 22, when Malaysia implemented a new system under its Foreign Worker Centralised Management System (FWCMS) for recruiting foreign laborers. This system controversially listed only 25 Nepali foreign employment agencies as 'principal' agencies for recruiting workers from Nepal. Subsequently, approximately 250 'subsidiary' agencies were also integrated into the system under these 25 principal firms. This move sparked widespread outrage in Nepal, where over 1,100 licensed foreign employment agencies operate. Nepali businesses vehemently protested, labeling it a 'digital syndicate' that stifles open competition and creates an unfair monopoly. **Nepal's Decisive Government Action** Upon the public revelation of this issue, the Nepali government swiftly initiated diplomatic and administrative measures: 1. **Suspension of Demand Letter Verification**: Citing Malaysia's unilateral selection of agencies, the government halted the pre-approval and verification process for new demand letters for Malaysian employment until the dispute is resolved. 2. **Ministerial-Level Diplomatic Discontent**: On September 15, the Minister for Labor, Employment, and Social Security summoned the Malaysian Charge d'Affaires to the Ministry, formally demanding the criteria and evaluation system used for selecting the 25 agencies. 3. **Internal Investigation by the Department**: The Department of Foreign Employment launched an investigation into how these 25 agencies were listed in Malaysia's system, scrutinizing their financial transactions and the basis of their monopolistic access. Explanations have also been sought from the 250 subsidiary agencies. **Impact on Workers and the Economy: The Risk of Tiered Commissions** This dispute transcends mere business competition among manpower agencies; its direct impact falls squarely on the shoulders of vulnerable Nepali migrant workers. If the system of only 25 companies being allowed to bring demand letters persists, other agencies will be forced to 'buy' or 'sub-let' these demand letters from the principal companies. This multi-tiered buying and selling of demand letters inevitably inflates intermediary commissions. Consequently, despite the 'zero-cost' (free visa, free ticket) provision enshrined in the 2018 bilateral labor agreement, the entire financial burden ultimately falls on the workers. Historically, similar syndicates have forced workers to pay an additional NPR 2 to 3 lakhs in recruitment fees, severely undermining their economic prospects and increasing their debt burden. For investors, the stability and fairness of foreign employment directly impact remittance inflows, a critical pillar of Nepal's economy. Any disruption or increased cost in this sector can affect the disposable income of families, potentially influencing consumption patterns and the overall economic landscape. **From Commitment to Systemic Reform: The Path Forward** The phone conversation between the two Prime Ministers has sent a clear political message: syndicates in worker recruitment are unacceptable. However, translating this commitment into tangible results will hinge on decisive administrative and technical actions in four key areas: 1. **FWCMS System Review**: Malaysia must reconsider its 25-agency quota system and grant open access to all licensed Nepali manpower companies that meet established standards. 2. **Joint Technical Committee Meeting**: An urgent meeting of the labor ministers and the Joint Working Committee (JWC) from both countries is essential to establish transparent operational procedures. 3. **Transparency in Selection Criteria**: Malaysia needs to formally disclose its agency selection criteria and ensure its alignment with Nepal's Foreign Employment Act. 4. **Digital Cost Monitoring**: Both countries should implement an online tracking system to ensure that workers receive their tickets and visas directly from employers, thereby enforcing the zero-cost policy. While the Prime Minister-level agreement has opened the door for dialogue, the problem will not be truly resolved until concrete technical changes are made to Malaysia's recruitment system and the syndicate is completely dismantled. The joint technical meeting, expected to convene within the next few weeks, will be pivotal in determining the future of Nepali employment in Malaysia and ensuring a fair, transparent, and equitable process for thousands of aspiring migrant workers.
Social Unrest Mounts in Kathmandu Following Tragic Self-Immolation: Implications for Stability and Governance
Kathmandu is currently grappling with heightened social tension following the tragic death of Arjun Dong, a resident of Indrasarovar Rural Municipality-3, Makwanpur, who succumbed to his injuries after attempting self-immolation in Tripureshwar. The incident, which occurred on Monday, has sparked widespread outrage and led to significant protests at the Kirtipur Burn Hospital premises, where Dong was undergoing treatment. His family members and a growing number of supporters are demanding a thorough and impartial investigation into the circumstances leading to this heartbreaking event, along with swift action against those deemed responsible. According to initial reports, Arjun Dong attempted self-immolation inside the bus he was driving in Tripureshwar following an alleged altercation with traffic police. Rescued in a critically injured state, he was immediately admitted to the Kirtipur Burn Hospital. Despite intensive medical efforts, the hospital administration confirmed his passing during treatment, a development that has further fueled public anger and calls for justice. The specifics of the altercation with traffic police remain a critical point of contention and are central to the ongoing demands for a transparent inquiry. The news of Dong's death rapidly mobilized his relatives and a large contingent of supporters, who converged on the hospital premises. Their protests are characterized by fervent demands for legal action against any parties responsible for the incident, emphasizing the need for a serious and unbiased investigation. Demonstrators are vociferously calling for fair compensation for the victim's family and the immediate prosecution of those found culpable. The sentiment on the ground reflects a deep-seated frustration and a yearning for accountability in the face of such a devastating personal tragedy. From an investor's perspective, while this incident does not directly pertain to market fundamentals or corporate earnings, it carries significant implications for the broader socio-political stability of the nation. Episodes of social unrest, particularly those stemming from perceived injustices or failures in governance, can erode public confidence and create an environment of uncertainty. A stable and predictable operating environment is paramount for attracting and retaining both domestic and foreign investment. Prolonged or widespread social agitation can disrupt economic activities, impact consumer sentiment, and potentially lead to policy shifts aimed at addressing public grievances, which could, in turn, affect various sectors of the economy. The government's response to this incident will be closely watched. A transparent investigation, coupled with decisive action to address the root causes of such extreme acts, is crucial for restoring public trust in state institutions and maintaining social cohesion. Failure to adequately address these concerns could lead to a more volatile social landscape, which inherently introduces risks for businesses and investors. The current tightening of security in the hospital area and ongoing efforts to facilitate dialogue between the deceased's family and local administration are initial steps, but the long-term impact will depend on the perceived fairness and effectiveness of the justice process. Investors typically seek markets characterized by strong rule of law, effective governance, and social harmony. Incidents like the one in Tripureshwar serve as a stark reminder of the underlying social pressures that can, at times, surface and demand attention. While the immediate financial impact might be negligible, the cumulative effect of such events on national stability and investor sentiment warrants careful consideration. A nation's ability to manage social grievances and ensure justice is a key indicator of its overall resilience and attractiveness as an investment destination. This incident underscores the importance of robust public service accountability and the need for mechanisms to address citizen grievances effectively, thereby preventing situations from escalating to such tragic outcomes. The financial community, while focused on economic indicators, must also remain cognizant of the broader societal fabric, as it forms the bedrock upon which economic prosperity is built.
Prime Minister Balen Shah Appoints Finance Minister Wagle as Acting Premier, Reinforcing Stability Amidst Policy Debates
In a significant move that has garnered considerable attention in political and financial circles, Prime Minister Balen Shah has appointed Finance Minister Dr. Swarnim Wagle as the acting head of government. This appointment comes as Prime Minister Shah departs for the United States to participate in the 81st session of the United Nations General Assembly. The decision is widely seen as a strategic maneuver to quell persistent rumors of strained relations and policy disagreements between the Prime Minister's Office and the Ministry of Finance. For weeks, speculation has been rife regarding a potential rift between Prime Minister Shah and Finance Minister Wagle, particularly concerning budgetary allocations, tax reforms, and recent economic policy decisions. These rumors had created an atmosphere of uncertainty, prompting concerns among investors and the general public about the stability and coherence of the government's economic agenda. By entrusting Dr. Wagle with the crucial responsibility of acting Prime Minister, Shah has delivered a clear and unequivocal message: the leadership remains united, and there is a strong foundation of trust and collaboration at the highest echelons of government. Prime Minister Shah's recommendation to President Ramchandra Paudel for Dr. Wagle's appointment as acting Prime Minister underscores the confidence placed in the Finance Minister's capabilities and leadership. This move is particularly impactful given Dr. Wagle's pivotal role in steering the nation's economic policies. For investors, this signals a commitment to continuity and stability in economic governance, which is crucial for maintaining market confidence and attracting both domestic and foreign investment. A unified and stable government is often perceived as a prerequisite for effective policy implementation and sustained economic growth, making this political development particularly relevant for the NEPSE market. Prime Minister Shah is scheduled to address the UN General Assembly on Ashwin 8 (October 8) and is expected to return to Nepal on Ashwin 10 (October 10). During his stay in New York, he will engage in high-level bilateral meetings with various heads of state and government, advocating for Nepal's stance on critical global issues such as climate change, sustainable development goals, and the unique challenges faced by landlocked developing countries. His international engagements aim to bolster Nepal's diplomatic ties and secure support for its national development aspirations. In the interim, Dr. Wagle will assume full executive responsibility for the daily administration and operation of the government. This period will test his leadership in managing ongoing governmental affairs and ensuring the smooth functioning of state machinery. Political analysts interpret this appointment not merely as a temporary delegation of power but as a deliberate effort to project an image of a cohesive cabinet and a strong understanding between the Prime Minister and his key economic minister. Such a display of unity is vital for fostering a predictable policy environment, which is highly valued by the investment community. While the primary focus of this news is on political appointments and governmental stability, it is also important for investors to note a separate announcement: the Nepali stock market (NEPSE) will remain closed on Ashwin 5 (Monday). This closure is a routine market holiday and should be considered independently of the political developments discussed above, though the broader context of governmental stability always influences market sentiment.
Bikas Hydropower Retains BBB- Credit Rating Amidst Negative Watch: Investor Implications
ICRA Nepal Limited, a leading credit rating agency in Nepal, has recently reaffirmed the issuer rating of Bikas Hydropower Company Limited (BHCL) at [ICRANP-IR] BBB- (pronounced "ICRA NP Issuer Rating Triple B Minus"). While this rating indicates a moderate degree of safety regarding the timely servicing of financial obligations, signifying that the company carries moderate credit risk and remains capable of meeting its financial commitments, the accompanying caveat of being on "Watch with Negative Implication" introduces a layer of caution for investors and stakeholders. A credit rating serves as a crucial indicator for investors, lenders, and other market participants, offering an independent assessment of a company's financial health and its capacity to honor its debt obligations. A BBB- rating, within ICRA Nepal's scale, suggests that BHCL's financial instruments are considered to have a moderate credit risk. This implies that while the company's fundamentals are generally sound, it may be more susceptible to adverse economic conditions or specific industry challenges compared to entities with higher ratings (e.g., A or AA categories). For investors, this translates to a balanced risk-return profile, where the potential for stable returns is coupled with a discernible level of risk. The most significant aspect of this reaffirmation is the continuation of the "Watch with Negative Implication." This designation is not to be taken lightly, as it signals that ICRA Nepal perceives potential developments or events that could lead to a downgrade of the rating in the near to medium term. Such a watch is typically triggered by factors like deteriorating financial performance, significant project delays or cost overruns, increased leverage, adverse regulatory changes, or other operational challenges that could impact the company's cash flow generation and debt servicing capabilities. For Bikas Hydropower, this implies that the company is under close scrutiny, and its ability to navigate current or anticipated challenges will be critical in determining its future credit standing. Bikas Hydropower Company Limited operates within Nepal's burgeoning hydropower sector, a capital-intensive industry often characterized by long gestation periods, construction risks, hydrological uncertainties, and complex regulatory frameworks. The company's performance is intrinsically linked to the successful execution and operation of its power projects, as well as the stability of power purchase agreements (PPAs) with the Nepal Electricity Authority (NEA). Any deviations from project timelines, unexpected operational hurdles, or shifts in the energy market could exacerbate the concerns highlighted by the negative watch. For BHCL, maintaining a BBB- rating, even with a negative watch, is vital for its access to capital markets and its ability to secure financing for ongoing or future projects. A downgrade could lead to higher borrowing costs, making it more expensive to fund expansion or refinance existing debt, thereby impacting profitability and financial flexibility. From an investor's perspective, this situation calls for enhanced due diligence. Shareholders and potential investors should closely monitor the company's quarterly financial reports, project progress updates, and any announcements regarding operational or strategic changes. Understanding the specific reasons behind the negative watch, even if not fully disclosed, and assessing the company's mitigation strategies will be paramount. In conclusion, while Bikas Hydropower Company Limited's BBB- rating reflects a moderate degree of safety, the persistent "Watch with Negative Implication" serves as a clear signal for vigilance. It underscores the dynamic nature of credit risk in the hydropower sector and the importance of continuous monitoring for all stakeholders. Investors are advised to consider both the current rating and the potential for future changes when evaluating their investment decisions in BHCL.
National Life Insurance Celebrates Top Agents, Reinforces Commitment to Growth and Digital Transformation
National Life Insurance Company, a prominent player in Nepal's vibrant insurance sector, recently hosted its prestigious annual Chairperson Club program, a three-day, two-night event dedicated to honoring its highest-achieving agents. Held at the luxurious Hotel Siddhartha Vilasa in Bhairahawa, the gathering brought together 565 elite Chairperson Club members who had successfully met their ambitious targets for the fiscal year 2082/83. The event also saw the participation of key company figures, including department heads, provincial and branch managers, and marketing staff, underscoring the company's commitment to its sales force. The Chairperson Club program is a cornerstone of National Life Insurance's strategy to motivate and reward its extensive network of agents, who are the frontline ambassadors of the company. The ceremony was marked by the distribution of Chairperson Club memberships and special recognition for agents who secured the top three positions nationwide in both individual and network business categories. Beyond these top performers, the company also celebrated agents who demonstrated exceptional performance under various other prestigious clubs, including the Centurion Club, National Star, and National Superstar. A particularly noteworthy aspect of the recognition was the honoring of agents who have maintained Chairperson Club membership for an impressive ten consecutive years, highlighting their sustained dedication and unparalleled contribution to the company's success. The event served as more than just a recognition ceremony; it was a strategic platform for leadership to articulate the company's vision and reinforce its commitment to agent development. Chairperson Premarajya Lakshmi Singh, in her address, emphasized the company's unwavering support for its agents. She affirmed that National Life Insurance would continue to invest significantly in initiatives focused on skill development, capacity building, and leadership development. This commitment is crucial in an increasingly competitive market, ensuring that agents are equipped with the necessary tools and knowledge to excel and provide superior service to clients. Echoing this sentiment, CEO Suresh Prasad Khatri outlined the company's strategic priorities for the new fiscal year. He stated that a primary focus would be on strengthening the agent network and significantly enhancing customer service. In the dynamic landscape of the Nepali insurance industry, a robust and well-trained agent network is vital for market penetration and maintaining customer loyalty. Improved customer service, driven by efficient processes and responsive agents, is expected to further solidify National Life Insurance's market position and foster long-term client relationships. A critical component of the Chairperson Club program was its focus on professional development through a series of insightful training sessions. These sessions covered highly relevant topics for the modern financial services industry: anti-money laundering (AML), artificial intelligence (AI), and digital platforms. Nepal Insurance Authority Deputy Director Padam Prasad Sadari delivered a crucial address on the imperative of monitoring suspicious activities and strictly complying with anti-money laundering regulations. This training is particularly vital given the increasing regulatory scrutiny on financial institutions to combat illicit financial flows. Furthermore, trainers Bishwaraj Poudel and Sanjog Koirala led engaging sessions on the transformative potential of artificial intelligence and digital platforms in the insurance business. As the world rapidly embraces digital transformation, the insurance sector is no exception. Integrating AI can streamline operations, enhance risk assessment, personalize customer experiences, and detect fraud more effectively. Similarly, leveraging digital platforms can expand reach, simplify policy management, and offer seamless customer interactions, ultimately driving efficiency and innovation. By equipping its agents with knowledge in these cutting-edge areas, National Life Insurance is positioning itself at the forefront of technological adoption within the Nepali insurance market. This comprehensive program underscores National Life Insurance's holistic approach to business growth – one that prioritizes its human capital, embraces technological advancements, and adheres to stringent regulatory standards. By investing in its agents' professional development and recognizing their achievements, the company not only fosters a culture of excellence but also reinforces its commitment to delivering superior insurance solutions and maintaining a strong, ethical presence in the Nepalese financial landscape. Such initiatives are instrumental in building a resilient and forward-looking organization capable of navigating future challenges and capitalizing on emerging opportunities in the evolving insurance industry.
Ather Nepal Expands Footprint with 16th Experience Center in Strategic Surkhet Location
Ather Nepal, a prominent and rapidly growing player in the electric scooter segment, has significantly bolstered its national footprint with the inauguration of its 16th Experience Center in Surkhet. Located strategically at Birendra-12, Airport Chowk, this new facility marks a crucial expansion into the Karnali region, extending Ather's sales and service network to a previously underserved yet promising market. This strategic move underscores the company's unwavering commitment to democratizing access to sustainable transportation solutions across all corners of Nepal, fostering a greener future for its citizens. The newly established Experience Center in Surkhet is meticulously designed to offer a comprehensive brand experience to prospective customers. Visitors will have the invaluable opportunity to explore Ather's cutting-edge product lineup, which includes the highly acclaimed 450 series and the recently introduced Rizta series. The 450 series, renowned for its exhilarating performance and smart features, incorporates advanced technologies such as Magic Twist for intuitive throttle control, Infinite Cruise for effortless long rides, and voice interaction for enhanced user convenience and safety. These innovative features collectively aim to provide a superior, engaging, and technologically advanced riding experience for tech-savvy urban commuters seeking efficiency and style. Complementing the performance-oriented 450 series, the Rizta is strategically positioned as a family-oriented electric scooter. This model emphasizes comfort, practicality, and safety, catering to a broader demographic seeking reliable, spacious, and eco-friendly transportation for daily commutes, school runs, and family errands. By offering a diverse and well-differentiated product portfolio, Ather Nepal aims to address the varied needs and preferences of the Nepali consumer base, from individual riders prioritizing performance to families prioritizing utility and safety. This expansion into Surkhet is not merely about opening a new showroom; it represents a strategic pivot towards tapping into the burgeoning demand for electric vehicles beyond the major metropolitan areas. As awareness about environmental sustainability, rising fuel costs, and the long-term economic benefits of EVs grows, tier-2 and tier-3 cities like Surkhet are becoming increasingly vital markets. Ather's proactive approach in establishing a strong physical presence and robust service network in such regions is indicative of its long-term vision for market leadership and its pivotal role in accelerating Nepal's nationwide transition to green mobility. A key differentiator and a cornerstone of Ather Nepal's market strategy lies in its robust after-sales support and extensive charging infrastructure. The company currently boasts a formidable network of more than 10 authorized service centers strategically spread across the nation, ensuring that customers receive timely, efficient, and expert maintenance and repair services. Furthermore, Ather has diligently established over 50 fast-charging points, significantly mitigating range anxiety and making electric vehicle ownership more convenient and practical for its growing user base. This extensive support system is absolutely critical for building consumer confidence and driving wider adoption of electric scooters, especially in regions where EV infrastructure is still in its nascent stages of development. Adding to its unwavering commitment to customer satisfaction and product reliability, Ather Nepal offers an industry-leading Eight70 battery warranty. This comprehensive warranty provides extensive coverage for up to eight years or 80,000 kilometers, whichever comes first, subject to applicable terms and conditions. Such a long-term and generous warranty underscores the company's profound confidence in the durability, longevity, and reliability of its cutting-edge battery technology—a crucial and often expensive component of any electric vehicle—and offers significant peace of mind to both investors and end-users alike. To celebrate the grand opening of the Surkhet Experience Center and to encourage early adoption within the local community, Ather Nepal has rolled out a series of attractive promotional offers. Customers purchasing an Ather scooter until Ashoj 11 (Nepali calendar date) can choose from a range of compelling benefits. These include the option of securing the extended Eight70 battery warranty on cash purchases, availing 0% interest financing for easier affordability and reduced financial burden, or receiving an additional Rs 8,000 valuation on exchange deals for their old vehicles. These incentives are strategically designed to make electric scooter ownership more accessible, appealing, and financially viable for the residents of Surkhet and the wider Karnali region, fostering a rapid shift towards electric mobility. The entry of Ather Nepal into Surkhet is poised to have a multifaceted and positive impact. It will not only provide local consumers with immediate access to advanced, eco-friendly electric mobility solutions but also significantly contribute to local economic development through the creation of new job opportunities in sales, service, and related sectors. Moreover, by expanding the reach of electric vehicles, Ather is playing a pivotal role in reducing carbon emissions, mitigating air pollution, and promoting a cleaner, greener future for Nepal, aligning seamlessly with national and global sustainability goals. This strategic expansion solidifies Ather's position as a frontrunner in Nepal's rapidly evolving electric vehicle landscape, promising significant growth, environmental benefits, and a tangible step towards a sustainable transportation ecosystem.
NEPSE Announces Market Closure on Ashwin 5: Implications for Investors
The Nepal Stock Exchange (NEPSE) has officially announced that all trading activities will be suspended on Ashwin 5, Monday. This directive means that investors will be unable to execute any buy or sell orders, and no transactions will be processed across both the primary and secondary markets for the entire trading day. Such announcements are critical for all market participants, as they directly influence trading strategies, liquidity management, and overall portfolio planning within the Nepalese financial landscape. While the specific rationale behind the closure on Ashwin 5 was not explicitly detailed in the initial announcement, NEPSE frequently suspends trading for a variety of reasons. These can range from declared public holidays and national festivals to unforeseen technical glitches or system maintenance that might disrupt the smooth and fair functioning of the exchange. Regardless of the underlying cause, a market closure necessitates careful consideration and proactive planning from individual investors, brokerage firms, and other financial intermediaries. For active traders, a one-day halt in trading can represent a significant missed opportunity to react to breaking market-moving news or to adjust their positions in response to evolving economic indicators. Furthermore, such closures often lead to a build-up of pending orders or a notable surge in trading volume on the subsequent open day, as participants rush to execute transactions that were delayed. This pent-up demand or supply can, at times, contribute to increased market volatility immediately following the reopening of the exchange. Therefore, investors should be adequately prepared for potential price swings and ensure their trading strategies are robust enough to account for such interruptions. Long-term investors, while generally less susceptible to the impact of daily market fluctuations, still need to remain cognizant of market closures, particularly when they coincide with critical dates such as dividend announcements, book closure deadlines, or rights issue subscription periods. Any corporate actions scheduled around a market holiday might experience adjusted timelines, which could directly affect an investor's eligibility for dividends or their ability to participate in new share offerings. It is always prudent for investors to diligently check official NEPSE and company announcements for any revised schedules or important updates. Moreover, the settlement cycle for trades executed prior to the closure might also be affected. Typically, NEPSE operates on a T+2 or T+3 settlement cycle. A market holiday can effectively push back the settlement date, potentially delaying the receipt of funds for sellers or the delivery of shares for buyers. This can have significant implications for investors who are planning to reinvest funds immediately or those who need to meet specific margin calls. The broader economic implications of a market closure, even for a single day, are generally minimal unless it forms part of a more prolonged shutdown. However, it serves as an important reminder of the operational intricacies of the stock market. NEPSE, as the sole stock exchange in Nepal, plays an indispensable role in the nation's financial ecosystem. Its operational continuity and reliability are paramount for fostering investor confidence and ensuring the efficient allocation of capital. Investors are strongly encouraged to stay well-informed through official NEPSE channels and their respective brokerage firms regarding any further updates or clarifications related to market operations. Proactive planning for non-trading days is a fundamental aspect of prudent investment management in any stock market. This temporary halt on Ashwin 5 provides an opportune moment for investors to review their portfolios, reassess their strategies, and prepare for the resumption of trading with a clear and informed perspective.
मुक्तिनाथ विकास बैंकका ग्राहकलाई KGH होटलमा ३० प्रतिशतसम्म छुट
मुक्तिनाथ विकास बैंक लिमिटेड (@MNBBL@) र KGH Group of Hotel and Resort बीच बैंकका ग्राहकलाई विभिन्न होटल तथा रिसोर्टका सेवामा विशेष छुट उपलब्ध गराउने सम्बन्धमा व्यावसायिक सम्झौता भएको छ।सम्झौताअनुसार मुक्तिनाथ विकास बैंकका ग्राहकले काठमाडौंस्थित माया मनोर बुटिक होटल, पोखरास्थित वाटरफ्रन्ट रिसोर्ट र हिमालयन फ्रन्ट रिसोर्ट लगायत KGH अन्तर्गतका होटल तथा रिसोर्टका विभिन्न सेवामा १० देखि ३० प्रतिशतसम्म विशेष छुट प्राप्त गर्न सक्नेछन्। त्यस्तै, १० जनाभन्दा बढीको समूहमा Booking गर्दा एक जनाका लागि बस्ने सुविधा निःशुल्क उपलब्ध गराइनेछ। उक्त छुट तथा सुविधा लिन बैंकका ग्राहकले बैंकको मान्य डेबिट कार्ड वा प्रिभिलेज कार्ड प्रयोग गर्नुपर्नेछ। साथै, मुक्तिनाथ विकास बैंकको Mobile Banking मार्फत भुक्तानी गर्दा पनि यो सुविधा प्राप्त गर्न सकिने बैंकले जनाएको छ। यसैगरी, मुक्तिनाथ विकास बैंकले आधारदरमा शून्य प्रतिशत प्रिमियममा समेत लगानी गर्न सकिने गरी Auto Loan सञ्चालनमा ल्याएको छ। बैंकले आफ्ना ग्राहकलाई थप सेवा तथा सुविधा उपलब्ध गराउने उद्देश्यले KGH Group सँग व्यावसायिक सम्झौता गरेको जनाएको छ। असोज ५ गते, सोमबार, नेपाली शेयरबजार बन्द रहने भएको छ।
Laxmi Sunrise Capital Appointed Issue Manager for Pushpalal Investment Company’s IPO
Laxmi Sunrise Capital Limited has been appointed as the issue and sales manager for Pushpalal Investment Company's upcoming initial public offering (IPO). Under the agreement, the compant will manage the issuance of 15 lakhs ordinary shares with a face value of Rs. 100 each totaling Rs. 15 crores to the general public. The agreement was signed by Rajiv Sapkota, Chairman of Laxmi Sunrise Capital, and Lal Prasad Sawa Limbu, Chairman of Pushpalal Investment Company, in the presence of Bijay Lal Shrestha, CEO of Laxmi Sunrise Capital. Pushpalal Investment Company is an investment company focusing on sectors including energy, information technology, communication and tourism, with an aim to support long-term economic growth and development.
Nepal Rastra Bank Introduces National ID Requirements for Digital Wallet Accounts
Nepal Rastra Bank (NRB) has issued new provisions concerning the use of the National Identity Card (NID) for opening and updating digital wallet accounts. The central bank issued the financial literacy message on Ashwin 6, 2083, outlining requirements that licensed payment service providers must follow while verifying the identity of wallet users. According to NRB, licensed payment service providers must open wallet accounts after verifying the customer's details against the electronic records of the National Identity Card. Payment service providers are also required to obtain a self-declaration from wallet users regarding whether they have obtained a National Identity Card. The self-declaration must be collected through the mobile application or other appropriate means by the end of Ashwin 2083. For Nepali citizens who have already obtained a National Identity Card, payment service providers must update the National Identity Number (NIN) of the respective wallet users by the end of Ashwin 2083. The provision is aimed at ensuring that wallet users' identification details are properly updated and verified in accordance with the central bank's requirements. Nepali citizens who have not yet obtained a National Identity Card will also be required to update their customer identification details after obtaining the card. NRB has instructed licensed payment service providers to establish a system to notify such wallet users every month through their mobile applications or other appropriate channels to update their customer identification after obtaining a National Identity Card. Nepali citizens residing abroad will be able to open electronic wallets online while remaining overseas even if they do not have a National Identity Card or National Identity Number. However, they will be required to submit other necessary identification documents prescribed for opening the wallet. Once such a wallet user returns to Nepal, the concerned licensed payment service provider must obtain and update the user's National Identity Card details within 35 days of their return to Nepal. NRB has also made a special provision for citizens who are unable to take care of themselves, persons with disabilities, and helpless citizens. Such individuals may open and operate digital wallets by submitting necessary documents other than a National Identity Card or National Identity Number, as permitted under the applicable requirements. The new provisions are part of NRB's efforts to strengthen customer identification and verification procedures in the digital payment ecosystem while providing practical alternatives for users who may not yet have access to a National Identity Card.
Nepal Rastra Bank Spearheads Inter-Agency Drive to Fortify Financial Governance and Combat Rising Financial Crime
In a significant move to bolster Nepal's financial integrity and combat the escalating threat of financial crime, the Nepal Rastra Bank (NRB) recently hosted a crucial inter-agency dialogue in Kathmandu. Held on Ashwin 4, 2083, the interaction program brought together key regulatory, supervisory, law enforcement, and prosecution agencies, underscoring a collective commitment to strengthening financial governance across the nation. This proactive initiative is particularly vital for investors, as a robust and transparent financial system is fundamental to market stability and confidence. The high-level gathering was chaired by NRB Governor Prof. Dr. Biswo Nath Poudel, with Attorney General Dr. Narayan Datta Kadel gracing the event as the chief guest. The presence of senior officials from diverse institutions, including Deputy Attorneys General Sanjiv Raj Regmi and Lok Raj Parajuli, Nepal Government Secretary and Nepal Insurance Authority Chairperson Chandrakala Poudel, Inspector General of Police Dan Bahadur Karki, NRB Deputy Governors Kiran Pandit and Dirgha Bahadur Rawal, and Central Investigation Bureau (CIB) chief Uma Prasad Chaturvedi, highlighted the 'whole-of-government approach' being adopted to tackle complex financial challenges. Attorney General Dr. Kadel emphasized the ongoing efforts at the ministry level to amend existing laws, addressing identified shortcomings in prevailing legislation. He reiterated the Office of the Attorney General's unwavering commitment to actively participate in the fight against financial crimes and fortify Nepal's financial governance framework. Governor Poudel echoed this sentiment, stressing that financial governance is a shared responsibility, not solely that of the NRB. He highlighted the importance of regular inter-agency interaction and coordination to reconcile differing interpretations and ensure a unified approach. Poudel further cautioned against financial resources falling into the wrong hands, advocating for vigilance and a common direction among all government agencies. A critical aspect of the dialogue revolved around Nepal's efforts to exit the Financial Action Task Force (FATF) grey list. Governor Poudel expressed confidence that enhanced inter-agency coordination would significantly contribute to maintaining financial governance and developing a common understanding of anti-money laundering (AML) measures, thereby supporting the nation's objective of being removed from the grey list. For investors, exiting the FATF grey list is paramount, as it signals improved financial transparency and regulatory compliance, potentially attracting greater foreign direct investment and enhancing Nepal's standing in the global financial community. Inspector General of Police Dan Bahadur Karki acknowledged the alarming increase in both the number and complexity of financial crimes in recent years. He asserted that controlling these crimes necessitates joint efforts and highlighted the increased priority given to financial crime investigations, alongside capacity-building initiatives for the Central Investigation Bureau and law enforcement personnel. The program featured three insightful sessions. Dilliram Neupane, Deputy Director at NRB's Legal Division, presented on "Regulation and Supervision of the Banking Sector," detailing NRB's supervisory jurisdiction, prudential regulation, market conduct, and AML measures, while clarifying the distinction between supervision and criminal investigation. This provides clarity on the regulatory environment for financial institutions, a key factor for investors. Senior Superintendent of Police Rishiram Kandel of the Nepal Police Central Investigation Bureau presented a stark picture of "The Current State, Trends and Challenges of Economic and Financial Crime Investigation." He revealed a staggering four-and-a-half-fold increase in financial crime cases over the past five fiscal years. Economic and financial crimes now constitute approximately 28% of total cases, with about 84% of these being banking offenses, predominantly related to cheque dishonour. Kandel also highlighted the Financial Information Unit's forwarding of 132 intelligence reports to Nepal Police this fiscal year, covering areas like hundi transactions, virtual currency, and technology-based fraud. The rapid growth of technology-based fraud and the expansion of "money mule" networks were identified as critical emerging challenges, signaling evolving risks that require sophisticated countermeasures. In the third session, Nirmal Dhakal, Director General of the Department of Money Laundering Investigation, elaborated on "The Anti-Money Laundering System: The Perspective of Law Enforcement Agencies." Dhakal discussed the dynamic nature of financial crimes, including the increasing use of technology, transnational organized crime, and the misuse of complex ownership structures. He outlined immediate priorities for Nepal's FATF grey list exit, including completing required actions by January 2027, improving risk-based supervision, strengthening investigation and prosecution of complex offenses, and advancing asset freezing, confiscation, and recovery. Dhakal underscored the necessity of connecting reporting entities, regulatory bodies, the Financial Information Unit, and law enforcement agencies through a common "intelligence cycle" and advocated for joint financial investigations based on the principle of "follow the money, follow the assets, asset recovery." The comprehensive discussions that followed these presentations, facilitated by NRB Deputy Governor Dirgha Bahadur Rawal, involved representatives from a wide array of institutions, including SEBON and the Financial Information Unit. This collaborative spirit and the detailed insights shared during the dialogue underscore Nepal's serious commitment to building a resilient and secure financial ecosystem. For investors, these efforts translate into a more predictable and trustworthy market environment, reducing systemic risks and fostering long-term growth potential within the Nepalese economy.
Finance Minister's Secretariat Dispels Rumors of VAT Exemption Withdrawal on Electricity
Kathmandu, Nepal – The Secretariat of Finance Minister Swarnim Wagle has issued a definitive clarification, refuting widespread rumors and media reports suggesting that a principal agreement has been reached to withdraw the Value Added Tax (VAT) exemption currently applied to electricity tariffs. This official statement, released on Friday, aims to quell growing public concern and speculation regarding a potential increase in electricity costs for consumers. The Secretariat expressed serious concern over the circulating news and propaganda, which falsely claimed that the Finance Minister had consented to the withdrawal of the VAT exemption. It explicitly stated that, contrary to these rumors, Minister Wagle had not engaged in any meetings or discussions on this specific matter, neither on Sunday evening nor during the preceding week. This direct refutation underscores the government's commitment to transparent communication and its intent to prevent misinformation from impacting public sentiment or market expectations. The issue of VAT on electricity tariffs is a sensitive one in Nepal, directly impacting household budgets and the operational costs for various industries. The existing VAT exemption has been a measure aimed at providing relief to consumers and potentially stimulating economic activity by keeping electricity costs lower. Any move to withdraw this exemption would naturally lead to higher electricity bills, potentially fueling inflation and increasing the financial burden on the general populace and businesses alike. Such a policy shift could have ripple effects across the economy, influencing consumer spending patterns and the competitiveness of local industries. The Secretariat further elaborated that the ongoing process concerning electricity VAT is strictly adhering to the views and positions previously articulated by the Finance Minister in both the House of Representatives and the National Assembly. This indicates a consistent policy stance within the government regarding this critical fiscal matter. Minister Wagle has, on previous occasions, emphasized the importance of balancing fiscal responsibility with consumer welfare, suggesting a cautious approach to any policy changes that could significantly affect the public. This adherence to parliamentary discourse provides a framework for future policy considerations, ensuring that any decisions are made through established legislative processes. Moreover, the press statement highlighted that various bodies operating under the Ministry of Finance are currently undertaking necessary studies and discussions. These efforts are geared towards further facilitating the matter of electricity tariffs and, crucially, exploring avenues to provide continued relief to consumers. This suggests that while an immediate withdrawal of the VAT exemption is not on the cards, the government is continuously evaluating its fiscal policies to ensure sustainability while safeguarding consumer interests. Such comprehensive reviews are essential for long-term economic planning and policy effectiveness. For investors, particularly those in the energy sector or industries with high electricity consumption, this clarification brings a degree of stability and predictability. The assurance that no immediate change to the VAT exemption is planned helps in forecasting operational costs and assessing investment viability. Any sudden policy shift in such a fundamental utility could introduce significant market volatility and uncertainty, impacting corporate earnings and investor confidence. The government's measured approach, involving studies and discussions, signals a commitment to well-considered policy decisions rather than abrupt changes, which is generally viewed positively by the investment community. In the broader economic context, the government's stance on electricity VAT reflects its ongoing efforts to manage fiscal resources while navigating economic challenges. Maintaining consumer purchasing power and supporting industrial growth through stable utility costs are vital components of national economic strategy. This clarification from the Finance Minister's Secretariat serves as a crucial update for the financial community, reinforcing the current policy direction and offering insights into the government's approach to key economic levers, thereby contributing to a more informed investment environment.
Japan's Aging Population Reaches Historic High: Economic and Social Implications for Investors
Japan is currently grappling with an unprecedented demographic shift, as its population aged 65 and above has reached an all-time high. According to the latest statistics released by the Japanese government on the eve of 'Respect for the Aged Day,' nearly three out of every ten citizens are now senior citizens. This profound change underscores a deepening demographic crisis with far-reaching economic and social implications, particularly for investors observing global trends. The data reveals that approximately 36.24 million Japanese citizens, constituting 29.6% of the total population, are aged 65 or older. This figure represents a significant increase of about 20,000 individuals compared to the previous year, signaling a continuous upward trend. A closer look at the demographics shows a notable gender disparity, with elderly women numbering around 25.4 million, significantly outnumbering elderly men at 15.7 million. Further age breakdowns highlight the extent of this aging phenomenon: 29.1 million people are aged 70 or above, 21.6 million are 75 or above, and a substantial 12.8 million have surpassed the age of 80. One of the most immediate consequences of this demographic shift is the increasing participation of senior citizens in the labor market. In 2024, approximately 9.43 million individuals aged 65 or older were actively employed, marking the 22nd consecutive year of growth in this segment. This surge has pushed the elderly's share of total Japanese employment to a new record of 13.8%. This trend is particularly pronounced in sectors such as wholesale and retail trade, where about 1.31 million senior citizens are actively contributing to the workforce. While this helps mitigate labor shortages, it also raises questions about productivity, innovation, and the long-term sustainability of such reliance. The National Institute of Population and Social Security Research projects an even more dramatic shift, estimating that the proportion of citizens aged 65 and above will climb to 34.8% by 2040. This acceleration is anticipated as the 'second baby boomers' – individuals born between 1971 and 1974 – progressively cross the 65-year threshold. The confluence of a persistently low birth rate and increasing life expectancy has created a demographic structure that experts warn will exert immense long-term pressure on Japan's social security system, including pensions and healthcare, as well as its overall economic vitality. For investors, Japan's demographic trajectory presents both challenges and opportunities. Industries catering to the elderly, such as healthcare, pharmaceuticals, and specialized elder care services, are likely to see sustained growth. Companies involved in robotics and automation may also benefit as businesses seek technological solutions to address labor shortages. Furthermore, shifts in consumer spending patterns will favor products and services tailored to an older demographic, impacting sectors from real estate to leisure and financial planning. Understanding these profound structural changes is crucial for making informed investment decisions in a market grappling with one of the most advanced aging populations globally. The need for strategic adaptation, both from government policy and corporate innovation, has never been more pressing.
Everest Bank Inaugurates 134th Branch in Dhangadhi, Bolstering Presence in Sudurpashchim Province
Everest Bank Limited (EBL), a prominent and well-established commercial bank in Nepal, has announced a significant milestone in its ongoing expansion strategy with the inauguration of its 134th branch. This latest addition to its extensive network is strategically located at Campus Chowk, Ward No. 8, Dhangadhi Sub-Metropolitan City, Kailali, within the economically vibrant Sudurpashchim Province. This move underscores EBL's unwavering commitment to enhancing its reach and providing comprehensive financial services to a broader segment of the Nepali population. The inauguration ceremony, held recently, marked a dual achievement for the bank. Not only did it signify the opening of a new, state-of-the-art branch, but it also celebrated the relocation of EBL's Sudurpashchim Provincial Office to a newly constructed, dedicated building at the very same Campus Chowk location. This strategic consolidation means that all banking services for the entire province will now be seamlessly delivered from this modern and purpose-built facility, promising improved operational efficiency and an enhanced customer experience. With this latest addition, Everest Bank's total branch count in Sudurpashchim Province now stands at an impressive 15, significantly solidifying its regional presence and improving accessibility for its growing customer base. The event was graced by a host of notable dignitaries, reflecting the importance of this expansion for both the banking sector and the local community. Mr. Pushkar Ojha, President of the Dhangadhi Chamber of Commerce and Industry, and Dr. Bal Gopal Baidya, Chairman of Everest Bank's Board of Directors, jointly inaugurated the new branch and building. Their presence highlighted the crucial collaborative spirit between the financial sector and local business communities, which is essential for fostering regional economic development. Other key attendees included Mr. Jugram Chaudhary, Ward Chairman of Dhangadhi Sub-Metropolitan City Ward No. 8, Mr. Sudesh Khaling, Chief Executive Officer of Everest Bank, and Mr. Yagyaraj Timilsina, the bank's Sudurpashchim Province Head. The ceremony also saw the enthusiastic participation of various industrialists, local businessmen, dedicated bank employees, and local residents, all eager to witness the launch of enhanced banking facilities in their area. Everest Bank's decision to establish its branch office in its own building at Campus Chowk, Dhangadhi, is a clear testament to its long-term vision and commitment to the region. The bank firmly believes that this substantial strategic investment will play a pivotal role in invigorating local economic activities, fostering greater financial inclusion, and contributing significantly to the overall economic development of Dhangadhi and the broader Sudurpashchim Province. For investors, this expansion signals EBL's proactive and forward-looking approach to growth, tapping into underserved markets and strengthening its competitive position within the Nepali banking landscape. Such strategic moves are often viewed positively, as they indicate a bank's dedication to expanding its asset base, attracting new customer deposits, and ultimately, enhancing its profitability and shareholder value. This latest expansion is an integral part of Everest Bank's broader strategy to penetrate deeper into Nepal's diverse geographical landscape, ensuring that modern and accessible banking facilities are available even in semi-urban and rural areas. By providing a full suite of banking products and services, including various deposit schemes, competitive loan offerings, cutting-edge digital banking solutions, and efficient remittance services, EBL aims to empower individuals and businesses alike, thereby driving local entrepreneurship and promoting sustainable economic growth across the nation. The bank's consistent efforts in branch expansion reflect its unwavering dedication to serving the evolving financial needs of the Nepali populace and maintaining its esteemed stature as a leading and responsible financial institution in the country.
Mid Solu Hydropower Company Proposes 15.789% Dividend for Fiscal Year 2082/83; How Much in Bonus Shares and Cash?
Mid Solu Hydropower Company Limited (MSHL) has proposed a 15.789% dividend for the fiscal year 2082/83. The company has proposed a 15% bonus shares worth Rs. 12.90 crores and a 0.789% cash dividend (for tax purposes) worth Rs. 67.94 lakhs for the fiscal year 2082/83. The company's existing paid-up capital is Rs. 86.06 Crores. The dividend was subject to being distributed only after approval from the Electricity Regulatory Commission and endorsement by the company's upcoming AGM. As of writing, MSHL has an LTP of Rs. 527.00.
Public Issue of "Muktinath Mutual Fund 2" Mutual Fund Scheme Closing From Today
Muktinath Capital Limited is closing the issue of its mutual fund scheme "Muktinath Mutual Fund 2" to the general public today, 8th Ashwin, 2083. The issue opened on the 1st Ashwin, 2083. Although the deadline for this public issue had been extended until 15th Ashwin, 2083, it is closing today due to oversubscription. Out of 10 crore units, 13%, i.e., 1,30,00,000 units worth Rs. 13 crore, have been allocated to the scheme manager, Muktinath Bikas Bank Limited, and 2%, i.e., 20,00,000 units worth Rs. 2 crore, have been allocated to the fund sponsor, Muktinath Capital Limited. The remaining 8,50,00,000 units worth Rs 85 crore will be issued to the general public and institutions. According to CDSC, 1,45,968 applicants have applied for 10,66,51,880 units worth Rs. 1.06 Arba so far. "Muktinath Mutual Fund 2" is closed-ended. Applicants can apply for a minimum of 100 units to a maximum of 1,00,00,000 units. Notice:
Siddhartha Bank Unveils Book Closure Date for its 20% Dividend; Calls AGM on Ashwin 28
Siddhartha Bank Limited (SBL) has called its 25th AGM on 28th Ashwin, 2083. The meeting will be held at the Army Officers Club, Bhadrakali, Kathmandu, starting at 9:00 a.m. that day. Among the other agendas, the AGM will endorse a 20% dividend for the fiscal year 2082/83. The 482nd meeting of the board of directors held on Ashwin 01 has decided to distribute 10% bonus shares and 10% cash dividend (for tax purposes) from the paid-up capital. Since the paid-up capital of the company is Rs. 14.79 arba, the bonus shares are worth Rs. 1.47 arba, and the cash dividend is worth Rs. 1.47 arba. Similarly, 8.25 percent cash dividend worth Rs. 10.75 crores will be distributed for preference shares. Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports for FY 2082/83 and appoint an auditor for the fiscal year 2083/84. Ashwin 16 is the book closure date. Thus, shareholders who maintained that day are entitled to the dividend payout and can also attend the AGM.
Capital Gains Tax Rates Reduced, Decision Published in Gazette
The government has formally published its decision to reduce the capital gains tax on share investments in the Nepal Gazette, with the revised tax rates coming into effect from today. According to a notice issued by the Ministry of Finance, the capital gains tax rate for resident natural persons on gains from the disposal of securities listed with the Securities Board of Nepal (SEBON) has been revised based on the holding period of the shares. Under the new provision, a 3.75% capital gains tax will be levied on gains from shares held for more than 365 days. Similarly, gains from shares held for 365 days or less will be subject to a 5% capital gains tax. The revised rates will be implemented from today, with investors subject to the new capital gains tax provisions from the effective date. Previously, capital gains tax rates for short-term and long-term investors were comparatively higher and differentiated based on the holding period. The government's decision is expected to provide relief to investors participating in the stock market, particularly those making long-term investments. According to the Ministry of Finance, the decision was made by the Council of Ministers by exercising the authority granted under Sub-section (1) of Section 18 of the Economic Act, 2083. The decision has now been formally published in the Nepal Gazette, making the revised capital gains tax provisions officially applicable.
Prime Minister Balen Shah Leaves for New York to Attend UN General Assembly
Prime Minister Balendra Shah is leaving for New York today to participate in the high-level week of the 81st Session of the United Nations General Assembly (UNGA). Prime Minister Shah is scheduled to depart from Tribhuvan International Airport on a Qatar Airways flight at 4:15 PM on Tuesday, September 22, leading the Nepali delegation to the UNGA. The Ministry of Foreign Affairs has confirmed that Shah will address the General Debate of the General Assembly on September 24, 2026. Shah will represent Nepal at the high-level General Debate, which is being held at the United Nations Headquarters in New York from September 22 to 28. According to the Ministry of Foreign Affairs, the Prime Minister's address is scheduled for September 24. His participation will mark Nepal's representation at the high-level segment of the 81st UNGA under his leadership. During his stay in New York, Prime Minister Shah is also scheduled to hold a meeting with United Nations Secretary-General António Guterres. The meeting is part of Shah's official engagements during the UNGA, alongside his participation in high-level meetings and other diplomatic activities. The Nepali delegation accompanying Prime Minister Shah includes Foreign Minister Shishir Khanal, Chief Advisor Kumar Byanjankar, Foreign Secretary Amrit Bahadur Rai and other senior government officials. The delegation is also expected to participate in various meetings and engagements on the sidelines of the General Assembly. Foreign Minister Khanal had already travelled to New York on September 20 to participate in high-level meetings, side events and ministerial-level engagements. The New York trip is Prime Minister Balendra Shah's first foreign visit since assuming office. He is scheduled to return to Kathmandu on September 26, 2026, according to the Ministry of Foreign Affairs. Earlier, Foreign Minister Shishir Khanal had travelled to New York ahead of the Prime Minister to participate in the UNGA-related programmes and bilateral engagements.
NEPSE Resumes Trading After Data Hub Technical Issue Resolved
Trading at the Nepal Stock Exchange (NEPSE) will resume as usual from today, Ashwin 6, 2083, after the technical issue at the data center hosting the servers of 72 trading member companies was resolved. NEPSE said the technical problem at Data Hub Pvt. Ltd., which serves as the data center for the servers of its 72 trading members, has now been addressed. Following the resolution, regular trading operations will resume from today. NEPSE had suspended trading yesterday, Ashwin 5, after a technical problem emerged at Data Hub from the morning of Ashwin 4. Although efforts were underway to resolve the issue, the problem had not been fixed by yesterday. NEPSE said continuing trading under the circumstances could potentially affect its own trading system. The Stock Brokers Association of Nepal had also requested the suspension of the day's regular trading session, citing the unresolved technical issue at the data center. Based on the request and the prevailing circumstances, NEPSE suspended trading on Ashwin 5 under Rule 21(1) of the Securities Listing and Trading Regulations, 2075. With the technical issue now resolved, NEPSE has informed all concerned that trading will operate according to the regular schedule from Ashwin 6.
Reminder! Last Trading Day to Secure Dividend of Nabil Balanced Fund - 2 and Nabil Balanced Fund III
Today is the last day to grab the dividend proposed by Nabil Balanced Fund - 2 (NBF2) and Nabil Balanced Fund III (NBF3). The 131st meeting of the board of directors of Nabil Investment Banking Limited held on Bhadra 18 has decided to distribute a 3.5% dividend (including tax) worth Rs. 3.92 Crore to Nabil Balanced Fund - 2 (NBF2) and an 2.5% cash dividend (including tax) worth 3.12 Crores to the unitholders of Nabil Balanced Fund III (NBF3) for the fiscal year 2082/83. Nabil Balanced Fund-2 (NBF2) and Nabil Balanced Fund III (NBF3) are closed-end mutual funds with a 10-year maturity period. Both funds are sponsored by Nabil Bank Limited and managed by Nabil Investment Banking Limited. The book closure date was 7th Ashwin. Thus, unit holders who maintained their units until the 6th Ashwin are entitled to the dividend payout.