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The price of gold has dropped by Rs 300 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 112, 700 per tola today. It was traded at Rs 113, 000 per tola on Monday.

Meanwhile, tejabi gold is being traded at Rs 112, 150 per tola. It was traded at Rs 112, 450 per tola.

Similarly, the silver is being traded at Rs 1,445 per tola today.

Press Council Nepal Chairman Bal Krishna Basnet has said that the media should enhance its role and presentation with the increasing use of social media sites. He suggested the media to pay attention for the same.

Saying that the materials posted by the individual are spreading confusion, he was of the opinion that the media should be aware of this and should do trustworthy journalism.

“Let’s not get anyone confused. All the issues posted in social media are not news. But those issues are spreading confusion among the people. The media should remove such confusion through their factual and credible presentations,” Chairman Basnet said during a program organized to give orientation to the editors and publishers of the newly opened online media portals at the office of the Council.

He further said the council has also been taking action against online media portals who have been making news by stealing contents or materials from others by going against the values of journalism.

Former acting chairman of the Council Gopal Budhathoki and Nepal Television news Chief Pushpa Hari Kyampa Rai highlighted the challenges brought by the digital media and the issues that the media should pay attention to.

Kathmandu Metropolitan City Mayor Balen Shah has said that he will take initiative to construct a cricket stadium if the federal government provides land to the metropolis.

Shah, who had reached Sri Lanka to watch a game between Nepal and India, said that the metropolis will take the initiative to build a cricket stadium if the government provides 100 ropani land.

Shah estimates that a stadium where a match between Nepal and India was held can be constructed for Rs 800 million.

He claimed that the Nepali players’ skills will be developed if the big games are held in Nepal and can also earn millions of rupees.

Taking to Facebook, he said, “The stadium of Sri Lanka where the matches are being held was similar to the cricket stadium of the Tribhuvan University. There were a few parapets and more facilities. A similar level of stadium can be built for Rs 800 to 900 million except for the land in Nepal.” “We will take initiative to construct a stadium from the Kathmandu Metropolitan City if the Nepal government provides necessary 100 ropani land around Kathmandu metropolis.

In the match held on Monday, Nepal lost to India by 10 wickets.

A new committee has been elected in the New Baneshwor branch committee of the Professional Insurance Agents Association Nepal, Nepal Life. A 9-member committee has been formed under the chairmanship of Jeevan Prasad Pokharel. 

The newly elected committees include Jeevan Prasad Pokharel as chairperson, vice-chair Renu Kumari Shah, secretary Janaki Acharya, joint secretary Binod Kumar Shrestha, treasurer Manjushree Singh Malla and members Lokendra Bahadur Malla, Usha Shahi, Khemnath Guragai and Hari Prasad Sanjel.

Pema Lama, a resident of Mugum Karmarong-8 in Mugu, recently had to walk for hours to reach a nearby market as a local depot in his village had its stock of rice exhausted. That was not the end of trouble for Lama, as he had to pay twice the government-fixed price for the rice due to a shortage.

Similar to Pema, individuals in remote districts like Karnali are grappling with a severe shortage of rice. Concerns are growing that rice supplies will be insufficient during the approaching festive season.

Nonetheless, government authorities say they are already taking measures to avert rice shortages during the festivities. Officials from the Food Management and Trading Company (FMTC), a government undertaking, informed that they have already initiated the rice procurement process and are in the process of selecting contractors to transport rice to depots in rural districts.

FMTC said it has initiated the transportation of rice to remote Karnali districts, including Humla, Mugu, Dolpa, Jajarkot, Kalikot, Dailekh, Jumla, and Rukum West, along with Bajura in Sudurpashchim. Notably, it has dispatched 4,000 quintals of rice to Humla. Since the district is yet to be connected with the national road network, the company transported rice to Humla via Tibet, China.

The government has been distributing subsidized rice to rural regions through the company. Madhav Mishra, the head of the company's Karnali provincial office, reassured, "There won’t be a shortage of rice during the festive season. We have already begun transporting rice to these districts.”

Mishra stated that 15,000 quintals of rice are being supplied to various districts. “People in remote areas won’t experience a shortage of rice during this year's festival season. To ensure this, we have already commenced shipping operations. Due to the high demand from remote areas, our rice reserves have been exhausted,” he said, adding. “That is why we have initiated a fresh procurement process.”

Apart from Humla, an additional 15,000 quintals of rice are being transported from Surkhet to different districts, he added. FMTC said depots in rural areas have run out of stock due to factors like price hike in the international market, India's prohibition on rice imports, and delays in the tender process for procurement and transportation.

“We are now in a position to supply rice to all remote depots and sales centers before Dashain,” Mishra said, informing that the process of awarding a contract for the supply of 8,000 quintals of rice to remote areas is in its final stage. Additionally, a new tender for transporting 12,000 quintals of rice has recently been invited, he added. The provincial office of FMTC in Surkhet is responsible for distributing subsidized rice through nine branch offices, seven depots, and 17 sales centers.

Moreover, the Karnali provincial office has kept 10,000 quintals of rice in stock for emergencies. “There are risks of floods and landslides during the rainy season, necessitating swift relief efforts. We will need to provide relief to the people should any untoward incident occur,” Mishra said. According to Mishra, this stock maintained in different depots cannot be sold. “Depots can sell rice only if they receive the new shipment,” he added.

The Nepal Stock Exchange (NEPSE) gained 7.04 points to close at 1,967.83 points on Monday.

Similarly, the sensitive index surged by 1.09 points to close at 377. 71 points.

A total of 3,432,267-unit shares of 270 companies were traded for Rs 1. 09 billion.

Meanwhile, Three Star Hydropower Limited was the top gainer today, with its price surging by 10. 00 percent. Likewise, Liberty Energy Company Limited was the top loser as its price fell by 9.98 percent.

At the end of the day, total market capitalization stood at Rs 2. 94 trillion.  

Russian Ambassador to Nepal Aleksei Novikov today paid a courtesy call on Speaker of the House of Representatives Devraj Ghimire. 

During the meeting held at the Singha Durbar, the two exchanged views on matters relating to Nepal-Russia relations and on the parliamentary practices in both countries.

Stating the Russian Federation is the old friend of Nepal, the Speaker said both countries enjoyed a cordial relation since they established the diplomatic ties in 1956.

He expressed gratitude for Russia's significant contributions to Nepal's development, including support provided during the 2015 earthquake and the COVID-19 pandemic.

The Russian ambassador also highlighted the importance of parliamentary exchanges between the two nations.

The Russian envoy said the Russia visit by National Assembly Chairperson Ganesh Prasad Timilsina in April was significant in this regard.

According to him, a high-level delegation from Russia is preparing to visit Nepal in the course of the implementation of bilateral agreements reached during the NA Chair's visit.

Prime Minister Pushpa Kamal Dahal called on President Ram Chandra Paudel on Monday.

During the meeting held at the Office of the President, Shital Niwas, the head of the government apprised the head of the state of his upcoming participation in the United Nations General Assembly and the China visit, according to President's press advisor Kiran Pokhrel.

On the occasion, the two exchanged views on other contemporary affairs, it has been learnt.