Nepse surges by 1. 85 points on Tuesday
The Nepal Stock Exchange (NEPSE) gained 1. 85 points to close at 2,054.98 points on Tuesday. Similarly, the sensitive index surged by 0. 58 points to close at 397. 69 points. A total of 4,031,025 unit shares of 222 companies were traded for Rs 1. 33 billion. Meanwhile, Ru Ru Jalbidhyut Pariyojana Limited was the top gainer today, with its price surging by 10 percent. Siddhartha Equity Fund was the top loser as its price fell by 6. 88 percent. At the end of the day, total market capitalization stood at Rs 2. 94 trillion.
Govt revokes decision not to allow foreign nationals to travel to third countries from Nepal
The government has decided to revoke its earlier decision not to allow foreign nationals to travel to third countries from Nepal except for transit at the airport. The Cabinet meeting held on Monday made 16 decisions including the same. The meeting also decided to form a salary commission under the headship of former Chief Secretary Lilamani Paudel. Information and Communications Minister Gyanendra Bahadur Karki, who is also the government spokesperson, made public the decisions by organizing a press conference at the Communication Ministry.
Monitoring Committee to be formed to facilitate waste management of Kathmandu
The government has decided to form a Facilitation and Monitoring Committee to facilitate the waste management of Kathmandu Metropolitan City. A meeting held on Monday under the coordination of Urban Development Minister Metmani Chaudhary decided to form the committee. The committee will comprise the members of the House of Representatives of Kathmandu, Nuwakot and Dhading. Informing about forming the committee, Nepali Congress General Secretary Gagan Thapa said that the Kathmandu Metropolitan City has started collecting garbage and sought help of all the people for the long-term management of the waste. Writing a status on Facebook, he said that continuous facilitation and monitoring are necessary for the waste management of Kathmandu Valley. He was of the opinion that the Kathmandu Metropolitan City is working at its best to manage the waste.
Gold price drops byRs 300 per tola on Tuesday
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 bullion is being traded at Rs 95, 000 per tola today. The yellow metal was traded at Rs 95, 300 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 94, 500 per tola. Similarly, the price of silver has decreased by Rs 5 and is being traded at Rs 1,160 per tola today.
Parliament meeting postponed till August 29
The meeting of the Legislature-Parliament has been postponed till August 29. The meeting was postponed after tabling the Truth and Reconciliation Commission, and Enforced Disappearance Commission (Third Amendment) Bill, 2079 in the Parliament. Law, Justice and Parliamentary Affairs Minister Govinda Prasad Sharma presented the Bill in the Parliament today.
British Airways to cut 10,000 Heathrow flights
British Airways will cut roughly 10,000 short-haul flights to and from Heathrow Airport between late October and March, BBC reported.
The move is aimed at minimising disruption over the winter and some long-haul flights will also be affected, the airline said.
BA said it will also cut a dozen round-trips per day - totalling 629 flights - until the end of October.
Heathrow, which is BA's main hub, has capped passenger numbers flying from the airport due to staff shortages.
Airports and airlines, which cut jobs during the height of Covid restrictions, have found it difficult to recruit enough staff as demand for holidays has returned. Heathrow has struggled to cope with rising passenger numbers and issues with its baggage handling systems caused long delays in returning luggage.
BA said it was "protecting key holiday destinations over half-term". Most schools in England are off during the last week of October.
Most cancellations will be on routes which have other daily services to the same destinations, it said in a statement.
Passengers affected by the changes will be offered an alternative flight with BA or another airline or a refund, it added.
BA insisted the impact for customers was "minimal", with the majority of flights unchanged.
"Customers booked for winter will be able to travel as planned and are being given several months' notice of any changes," a statement said.
The airline said it was expecting to operate an average of 290 round-trips per day from London Heathrow over the winter. Its total capacity for the winter schedule will be reduced by 8%, according to BBC.
"At this point they are likely to inconvenience very few people and I wouldn't expect any noticeable impact on price," he added.
British Airways is the largest operator at Heathrow, and earlier this month suspended sales of tickets on short-haul flights from the airport for two weeks. This is to avoid exceeding its share of the airport's 100,000 per day passenger limit.
This cap had been due to end on 11 September but was recently extended until 29 October.
Announcing the extension, Heathrow said that the cap had worked, resulting in fewer last minute cancellations and delays, and better baggage delivery, BBC reported.
BA had already cut more than 30,000 flights over the wider summer period, and had been planning a slow ramp-up towards the winter. But the passenger cap means it cannot run as many as hoped.
Bandh enforcers vandalize six vehicles in Chitwan
Bandh enforcers vandalized six vehicles for defying bandh in Chitwan. The bandh enforcers vandalized three buses, two trucks and a car in various places of Bharatpur Metropolitan City. A car (Province 3-0-01 Ka 0312), three buses (Na 8 Kha 4259, Na 5 Kha 1431 and Province 2-0-3-001 Kha 0098) and two trucks (Na 5 Kha 2263 and Na 4 Kha 8325) were vandalized this morning. Chitwan police have arrested five persons for their alleged involvement in vandalizing the vehicles, DSP Narahari Adhikari, spokesperson at the District Police Office, Chitwan said. The suspects have been identified as Amit Ghising of Bharatpur-23, Rajanbabu Singh of Bharatpur-9, Suraj Sharma and Sudio Paudel of Bharatpur-7 and Ganesh Shrestha of Bharatpur-2. However, there is no impact of Bandh in Bharatpur. The Netra Bikram Chand-led Communist Party of Nepal called the bandh against the government for endorsing the Millennium Challenge Corporation (MCC) and not implementing the three-point agreement signed with the party.
Hyundai supplier accused by US authorities of child labor violations
The Department of Labor (DOL) has said that SL Alabama LLC, a subsidiary of SL Corp. of South Korea, employed underage workers at its factory in Alexander City, Alabama, according to filings filed Monday with the US District Court for the Middle District of Alabama, Reuters reported. Since November, SL Alabama has “repeatedly violated” labor laws by employing “oppressive child labor” and “children under the age of 16,” the DOL said in a six-page complaint.
