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 Drops 10.07 Points, Turnover Rises to Rs 3.29 Billion

The Nepal Stock Exchange (NEPSE) index fell by 10.07 points on Thursday to close at 2,730.17, extending its losing streak for a third straight session despite higher market turnover. A total of 7.95 million shares of 337 companies were traded through 46,402 transactions, pushing daily turnover to Rs 3.29 billion, up from Rs 2.80 billion on Wednesday. Share prices of 80 companies gained, while 174 declined. Among sectoral indices, commercial banks, finance, hydropower, hotels, and investment sectors ended lower, while trading, mutual funds, and life insurance posted marginal gains. The sensitive index also slipped by 0.07 percent to 467.20 points.

Most Banks Maintain Stable Interest Rates for Mid-May to Mid-June Period

For the upcoming month starting in mid-May, the majority of Nepal’s commercial banks have opted to keep their interest rates unchanged, signaling a period of relative stability in the financial sector. According to the latest published schedules, 12 out of 20 commercial banks maintained the same rates they offered during the mid-April to mid-May window. Among those that did adjust, six banks including NIC Asia, NMB, and Standard Chartered lowered their rates, with NIC Asia cutting both individual and institutional rates by 0.25 percentage points. Conversely, only Siddharth Bank and Citizens Bank saw slight increases, primarily in specific categories. This trend toward stability or marginal reduction reflects a cautious approach by lenders as they balance liquidity levels with the need to stimulate credit demand in the current economic climate.

India Imposes Temporary Ban on Sugar Exports Until September 30

India, one of the world’s largest sugar producers, has implemented an immediate temporary ban on sugar exports effective until September 30, 2026. The decision aims to stabilize domestic prices and ensure supply security ahead of the new production season starting in October, which may be affected by the El Niño weather phenomenon. While government-to-government agreements for food security are exempt, most commercial exports are halted. This move follows a sharp decline in export volumes from 11 million tons in 2021-22 to just 900,000 tons in 2024-25. Analysts expect this restriction to drive up international sugar prices due to reduced global supply from a major exporter.

Property Investigation Commission Demands Details from Public Officials

The Property Investigation Commission has launched a probe into the assets of public officials who served between 2005/06 and April 13, 2026. A notice issued on Thursday requires all current and retired high-ranking officials including Prime Ministers, Ministers, Judges, Army and Police officers, and Heads of Public Institutions to submit their property details within 30 days. The investigation covers mobile and fixed assets, bank balances, shares, and foreign investments held in their names or by family members. The commission warned that failure to provide accurate or timely information will result in legal action. This initiative seeks to verify income sources and ensure transparency among those who held public office.

World Bank Pledges Infrastructure and Tech Support for Nepal’s Education Sector

The World Bank has expressed its commitment to supporting the educational development of the country. David Sislen, the country director for the World Bank, stated this during a meeting with the Minister for Education, Science, and Technology, Sasmit Pokhrel, at the Ministry of Education today. On that occasion, they discussed education sector reforms, infrastructure expansion, and technology-friendly education systems. The World Bank indicated its interest in further investing and collaborating, particularly in the development of school and educational infrastructure. According to the Ministry, the discussion also covered making the partnership more effective for long-term reforms and expanding access to quality education. Informing about the government’s priorities, Minister Pokhrel stated that educational infrastructure development, strengthening of ‘foundation learning,’ and ‘digitization’ and technology expansion in education have been moved forward as the government’s key agendas.

Nepal Consulate in US, Dallas, Collects $530K in 7 Months

The Consulate General of Nepal, Dallas, America, has collected USD 530,000 in revenue within seven months of operation, officials said. Established on July 8, 2025, in Texas, United States, and operational from September, the consulate provides services for the Nepali diaspora across multiple US states. Deputy Consul General Dhana Kumari Joshi said the mission handled 3,081 passport applications and issued 2,648 passports during the period. It also issued 82 one-way travel permits, authenticated 36 documents, and provided services including Non-Resident Nepali (NRN) card processing and visa facilitation. The consulate also supports repatriation of deceased Nepali nationals and has organized consular camps. It covers eight US states: Texas, Oklahoma, Arkansas, Louisiana, New Mexico, Colorado, Kansas, and Mississippi.

Three Airports in Karnali Province Remain Unused Despite High Investment

Three major airports in Karnali Province, Suntharali in Kalikot, Masinechaur in Dolpa, and Chaurjahari in Rukum Paschim, have become non-operational, leaving millions in investment wasted. Suntharali Airport, which took 39 years to build, remains limited to test flights despite being inaugurated in February 26, 2024. Chaurjahari Airport has been closed for eight years since its Rs 55.9 million blacktopping in 2015, while Masinechaur Airport, completed in 2011, has never hosted a test flight. Furthermore, provincial policies to provide flight subsidies and fuel incentives, for which Rs 12 million was previously allocated, have failed to be implemented, leaving remote citizens without reliable air connectivity.

Nepal-India Consulate Hosts Trade and Investment Facilitation Dialogue

The Consulate General of Nepal in Kolkata organized a discussion program on Tuesday to promote bilateral trade, transit, and investment. The session focused on strengthening economic cooperation and improving the efficiency of transport and connectivity networks between the two nations. Representatives from the Syama Prasad Mookerjee Port, Kolkata Customs, and various freight associations discussed infrastructure developments aimed at easing the movement of goods to Nepal. Participants raised concerns regarding custom coordination and transport management, while consulate officials committed to continuous engagement to resolve hurdles and enhance bilateral economic ties through simplified administrative procedures and proactive institutional support.

Koshi Province Summons Budget Session for May 20

The Koshi Province government has decided to convene its ninth budget session on May 20, at 3:00 PM in Biratnagar. During a cabinet meeting held on Thursday, the government also decided to forward several new regulations to relevant committees, including the Statistics Regulation 2025 and the Koshi Province Planning Commission Formation Order 2026. Additionally, a new member was appointed to the vacant seat of the Provincial Planning Commission, and a newly transferred Joint Secretary was posted as the Secretary of the Chief Minister’s Office. The upcoming session is expected to focus on the provincial budget and annual development programs for the next fiscal year.

Selection Process Begins for Electricity Regulatory Commission Vacancies

The Ministry of Energy, Water Resources, and Irrigation has initiated an open competition to fill vacant positions in the Electricity Regulatory Commission. Following the issuance of an ordinance regarding the removal of public officials, the previous board members were relieved of their duties. A three-member recommendation committee, led by the Ministry Secretary, has been formed to oversee the selection of a new Chairperson and four members. The ministry plans to issue a 15-day public notice inviting applications from qualified candidates. This move aims to restore the functional capacity of the commission, which is vital for overseeing the country’s energy sector regulations and tariff structures.

Indian Pilgrims Begin Kailash Mansarovar Journey via Humla

The arrival of Indian religious tourists for this year’s Kailash Mansarovar pilgrimage began on Wednesday, with the first group of 25 pilgrims reaching Simkot in Humla by air from Nepalgunj. Pilgrims will travel through the Simkot-Hilsa route to enter China for the Kailash Mansarovar Yatra. Helicopter flights from Simkot to Hilsa have also resumed for the season. Local tourism entrepreneurs are optimistic that the pilgrimage season will benefit hotels, transport operators, farmers and porters in Humla. According to tourism businesses, bookings have already been made for more than 15,000 Indian pilgrims this year. Last year, around 6,500 Indian pilgrims traveled to Kailash Mansarovar through the Hilsa route after China reopened access following the Covid-19 pandemic.

Mount Manaslu Celebrates 70th Anniversary of First Ascent

The 70th anniversary of the first successful ascent of Mount Manaslu, the world’s 8th and Nepal’s 7th highest peak at 8,163 meters, was marked with special events in Gorkha and Pokhara. Since the first summit on May 9, 1956, by a Japanese and an Indian climber, a total of 3,643 mountaineers have reached its peak. The first successful Nepali ascent occurred on April 22, 1973. Celebrations included the unveiling of statues of the pioneer climbers in Chum Nubri Rural Municipality and the awarding of certificates to their descendants. Additionally, the Nepal Mountaineering Association launched a 3D photo of the mountain in Pokhara to promote alpine tourism and record-keeping.

Nepalgunj Distribution Centre Cuts Power to 5,500 Defaulters

The Nepal Electricity Authority (NEA), Nepalgunj Distribution Centre, disconnected the power lines of approximately 5,500 customers who failed to pay their bills over the past five months. This campaign was launched to recover long-standing arrears, totaling roughly Rs 63 million. Following the disconnections, 4,500 customers settled their dues, leading to the recovery of Rs 50 million and the subsequent restoration of their services. According to legal provisions, electricity bills must be paid within 60 days to avoid automatic penalties. The center has also intensified monitoring against electricity theft and “hooking” to improve supply stability and reduce leakage throughout the Banke district.

Valley Traffic Police Penalize 2,365 Drivers, Collecting Rs 2.1 Million 24 Hours

In the past 24 hours, the Kathmandu Valley Traffic Police penalized 2,365 drivers for various traffic violations, contributing Rs 2.1 million to the national treasury. The breakdown of offenses includes 88 for driving under the influence, 258 for illegal ride-sharing, 156 for red-light violations, and 174 for speeding. Additionally, 123 drivers were cited for lane discipline violations, 128 for honking in restricted zones, 124 for sidewalk parking, and 163 for driving one-way. The remaining 1,121 penalties were issued for miscellaneous rule infractions. Authorities continue to intensify monitoring to ensure road safety and discipline across the capital.

Nepal Telecom Reports 9.85% Profit Increase

Nepal Telecom’s net profit reached Rs 6.272 billion in the first nine months of the current fiscal year, marking a 9.85 percent growth compared to the same period last year. Total operating income increased by 2.42 percent to Rs 25.92 billion, supported by a Rs 577.4 million rise in GSM mobile service revenue. Consequently, earnings per share (EPS) rose by 9.9 percent to reach Rs 46.47. Despite this growth, interest income from bank deposits fell by 20.57 percent, or Rs 56.6 million, due to declining market interest rates. The company attributes its overall financial success to effective expense management and a reduction in depreciation costs.

NIMB Clarifies Smart Telecom Auction, Says Operations Unaffected

Nepal Investment Mega Bank (NIMB) has said it has taken serious note of media reports linked to the Smart Telecom loan recovery and asset auction case. The bank issued a clarification after its CEO Jyoti Prakash Pandey was taken into custody for investigation by the Central Investigation Bureau on May 13, 2026. NIMB said the recovery process was conducted under the Bank and Financial Institutions Act, 2017, and the Secured Transactions Act, 2006. Telecom assets were auctioned after a notice on September 19, 2025, raising Rs 4.60 billion. Of this, Rs 4.22 billion was used for loan repayment, while Rs 380 million remains frozen for pending liabilities. The bank said investigations will not affect operations and it is cooperating with authorities.

Global Demand for Electric Vehicles Surges Amid Record Fuel Prices

International media reports indicate a significant shift toward electric and hybrid vehicles as global oil prices exceed USD 100 per barrel due to conflicts in West Asia. In April 2026, global demand for battery-electric and plug-in hybrid vehicles rose by 6 percent to 1.6 million units. In the United States, hybrid sales increased by 37 percent as gasoline prices reached a four-year high. Europe witnessed a one-third increase in full-electric vehicle sales in the first quarter of 2026. Meanwhile, in China, the sale of electric heavy trucks grew by 45 percent compared to March 2025, reaching 44,000 units. Analysts suggest the current energy crisis is accelerating the long-term transition to sustainable transportation worldwide.

Gold and Silver Prices Rise in Domestic Market Today

Gold and silver prices increased in the market on Thursday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold rose by Rs 300 per tola (11.66 grams) to reach Rs 302,500 on Thursday. The precious metal had fallen by Rs 700 per tola on Wednesday, when it was traded at Rs 302,200 per tola. Silver prices also increased on Thursday. Silver, which was traded at Rs 5,710 per tola on Wednesday, is now being traded at Rs 5,745 per tola, marking an increase of Rs 35 per tola compared to the previous day.