KATHMANDU: Nepal News presents today’s snapshot of Nepal’s economic activities. Get quick updates on major market movements, policy shifts, and financial developments shaping the economy of Nepal. Here are the key economic highlights for today:

NEPSE Rises By 12.17 Points

On Wednesday, the Nepal Stock Exchange (NEPSE) increased by 12.17 points. The total share turnover for the day reached Rs 4.68 billion, pushing the NEPSE index to 2,607.42 points. Among the traded shares, 149 companies saw their stock prices rise, 90 companies experienced a decline, while 12 companies’ share prices remained unchanged. Mabilung Energy Limited shareholders earned the highest profit from sales today, whereas sellers of First Microfinance Laghubitta shares incurred the largest losses.

Bank Deposits at NRB Cross Rs 800 Billion for First Time

The amount of money banks has deposited at Nepal Rastra Bank has crossed Rs 800 billion for the first time. By Tuesday, the total had reached Rs 809 billion. Banks have deposited R 170 billion through deposit collection instruments and Rs 639 billion under permanent deposit facilities. The funds deposited through the deposit collection instruments carry an average interest rate of 2.73%.

Seven-Point Agreement Between Nepal and India on Power Exchange

Nepal and India have reached a seven-point agreement on electricity exchange, strengthening transmission systems, and constructing new cross-border transmission lines. The agreement was reached during the 17th meeting of the Nepal-India Joint Technical Team at the secretary level, held on November 3-4 in Pokhara. The meeting was co-chaired by Sandeep Kumar Dev, Secretary of Nepal’s Ministry of Energy, Water Resources and Irrigation, and Bhavan Sahay Bairava, Chief Engineer of India’s Central Electricity Authority (CEA).

NRB Continues to Withdraw Excess Liquidity from Banks

The excess liquidity recently present in banks and financial institutions has been continuously withdrawn by Nepal Rastra Bank. The central bank has been withdrawing deposits from banks twice a week, on Sundays and Wednesdays. On Sunday alone, the central bank withdrew Rs 90 billion, and it withdrew Rs 50 billion on Wednesday. Nepal Rastra Bank uses deposit collection instruments to withdraw the funds. The total deposits have now exceeded Rs 7.4 trillion.

Minister Ghisings Urges Immediate Finalization of Budhigandaki Hydropower Investment Modality

Energy, Water Resources and Irrigation, Physical Infrastructure and Transport, and Urban Development Minister Kulman Ghising has stated that the investment modality for the national pride 1,200 MW Budhigandaki reservoir-based hydropower project must be finalized immediately. Minister Ghising discussed the progress of the project with Chiranjeevi Chataut, Secretary of the Ministry of Energy, Water Resources and Irrigation, and officials of Promoter Budhigandaki Company Limited, emphasizing that the project should not remain in its current state, and a decision on the investment modality must be made immediately.

Government Commission Suggests Permanent Mechanism for Air Accident Investigation

A high-level commission formed by the government has suggested establishing a permanent mechanism for investigating air accidents. Although international bodies and various commissions have repeatedly suggested this, the government has not been serious. Consequently, a commission is formed after every accident to study it, raising questions about its reliability. The report submitted by the high-level study and recommendation commission for improving the civil aviation sector has been made public by the Ministry of Culture, Tourism and Civil Aviation.

Minister Sinha Urges UK Private Sector to Invest in Nepal

Industry, Commerce and Supplies Minister Anil Kumar Sinha has urged the UK private sector to invest in Nepal. During a meeting with Minister Sinha, UK Ambassador to Nepal Rob Fenn highlighted that political stability and policy reforms in Nepal have improved the investment environment. Minister Sinha briefed on Nepal’s development priorities, particularly industrial development, trade promotion, and private sector strengthening, and emphasized the need for continued UK cooperation for sustainable development.

Government Calls for Project Proposals for Startup Businesses

The government has called for project proposals for startup businesses. The Industrial Enterprise Development Institute issued a notice on Wednesday requesting interested entrepreneurs eligible for loans to apply according to the ‘Startup Enterprise Loan Operational Procedure.’ At the proposal of Minister of Industry, Commerce and Supplies Anil Kumar Sinha, the institute opened applications for this loan. Entrepreneurs have been given 21 days to submit proposals.

Nepal Rejects Malaysia’s 10-Point Labor Standards

Nepal has conveyed its position rejecting the 10-point labor standards proposed by Malaysia. The Ministry of Labor, Employment and Social Security sent a letter stating that the current standards cannot be accepted or implemented as is. The letter was sent via the Ministry of Foreign Affairs, stating that Nepal cannot accept and implement the 10-point conditions in their current form. “Malaysia sent the 10-point standards as they were. It is not possible to accept and implement them in their current form,” said one official.

14 Construction Companies to Be Blacklisted

The Public Procurement Monitoring Office under the Prime Minister’s Office is preparing to blacklist 14 construction companies from various districts. The office issued a notice today stating that written clarification has been requested from these companies based on letters from various bodies recommending their inclusion on the blacklist. The notice mentions that if satisfactory clarification is not received within seven days, the companies will be blacklisted.

Ministry Issues ‘Trail Standards Directive–2025’

The Ministry of Culture, Tourism, and Civil Aviation has issued the ‘Trail Standards Directive–2025.’ The directive emphasizes the safety, uniformity, and sustainability of trails. The ministry stated that the standards were issued to enhance intergovernmental coordination and cooperation in the construction, management, and development of trails nationwide, making trekking safe and attractive.

Resumption of Rasuwagadhi Border Operations Delayed

The operation of the Rasuwagadhi border, which has been stalled for four months, will take more time. Currently, a Bailey bridge is under construction over the Lhende River with financial and technical assistance from the Chinese government. Frequent floods and construction issues have delayed the work. The flood on June 24 destroyed the permanent bridge connecting the border, halting operations.

Three Industries Pay First Installment of Premium Electricity Dues

Three more industries have paid the first installment of disputed premium amounts for electricity consumed via dedicated and trunk lines, according to Nepal Electricity Authority. The authority stated that Bhalwari Automatic Factory, SR Foods, and SR Steel paid their dues on Tuesday. With the first installment paid, electricity has been connected to these industries. The dues were accumulated from January 2016 to April 2018 for using dedicated and trunk lines.

Monsoon Cyclone Causes Rs 2.05 Billion Crop Damage in Koshi Province

Continuous rainfall from October 28-31 due to Montha cyclone caused more than Rs 2.05 billion in damage to rice and vegetable crops in Koshi Province. According to preliminary data released by the Provincial Agriculture Development Directorate, 12,632 hectares of crops were damaged, destroying 58,267.26 metric tons of rice and vegetables.

Nepal Exports Frozen French Fries to USA for First Time

Through Bhairahawa Customs Office, Nepal has exported frozen French fries worth Rs 5.48 million to the USA for the first time. Fit Choice Foods Pvt. Ltd., located in Rupandehi, exported two containers, equivalent to 43,520 kilograms, of frozen French fries to Gent LLC in the USA. According to a press release from Bhairahawa Customs Office, Nepalese food products have now entered a competitive market like the USA.

Niranjan Phuyal Appointed CEO of NRNA Infrastructure

Niranjan Phuyal has been appointed Chief Executive Officer (CEO) of NRNA Infrastructure. The company’s board of directors, in a meeting held on Wednesday morning, appointed him as CEO. Phuyal has been appointed for a four-year term effective immediately. A resident of Kathmandu, Phuyal was previously a senior manager at NEPSE.

Singati Hydro Energy Limited Declares Dividend

Singti Hydro Energy Limited has decided on the dividend to be distributed to its shareholders. In a board meeting on Tuesday, the company decided to distribute a 5% bonus dividend from the distributable profit of fiscal year 2024/25. The company’s current paid-up capital is Rs 2.9 billion.

SY Panel Nepal Limited Launches IPO

SY Panel Nepal Limited has launched its Initial Public Offering (IPO) from Wednesday. The company has opened 4,046,000 shares for the general public. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares. Previously, the company had issued IPOs for project-affected locals and Nepalis living abroad.

Reliance Spinning Mills Records Rs 10.23 Billion Turnover in One Year

Reliance Spinning Mills recorded a turnover of Rs 10.23 billion in a single year. The company recorded just over Rs 10 billion in turnover last fiscal year. In 2024, the company’s turnover was Rs 9.20 billion; in 2023, it was Rs 10.6 billion; and in 2022, Rs 10.10 billion.

Gold and Silver Prices Fall in Nepali Market

Gold and silver prices both fell in the Nepali market today. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold decreased by Rs 1,100 per tola today. As per the association, the price of hallmark gold has been fixed at Rs 237,200 per tola today. Previously, on Monday, the price of gold was Rs 238,300 per tola. The price of silver has also decreased today.