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The Nepal Stock Exchange (NEPSE) plunged by 34. 61 points to close at 2,113.55 points on Friday.

Similarly, the sensitive index dropped by 5. 80 points to close at 406. 45 points.

A total of 6,416,629 units of the shares of 213 companies were traded for Rs 2. 62 billion.

Meanwhile, Joshi Hydropower Development Company Limited was the top gainer today with its price surging by 5. 91 percent. Likewise, Mailung Khola Jal Vidhyut Company Limited was the top loser with its price dropped by 7. 18 percent.

At the end of the day, the total market capitalization stood at Rs 3. 01 trillion.

Nepal-India relations hit an all-time low over a map row in 2019. Three years later, the two countries’ ties seem to be on the mend. Of late, India’s engagement with Nepal has been largely focused on development, economic and connectivity and it has uncharacteristically maintained a low-key approach. In this connection, Kamal Dev Bhattarai of ApEx talks to Mahendra P. Lama, an expert on India’s neighborhood policy and a member of the Indian half of the Nepal-India Eminent Persons Group (EPG).

How would you evaluate the current state of Nepal-India relations? 

After a few years of stalemate, Nepal-India ties are looking up again. It had to at some point because the two countries have strong people-to-people relations. No matter what happens between Kathmandu and New Delhi at the political level, Nepali and Indian people living in border areas will continue to maintain their age-old relations. 

Do you think Nepal-India connectivity is improving?

Connectivity remains one of India’s priorities, not just with Nepal but also with all its neighbors and beyond. For instance, there is India’s India-Myanmar-Thailand Trilateral Highway, which will be extended to Laos, Cambodia and Vietnam. So, India clearly prioritizes infrastructure. 

As Nepal is already practicing federalism, the federal units should assert themselves on connectivity. It should not be Kathmandu’s issue alone. Province 1, for example, should think about how it wants to link up with Bangladesh. The provincial government should talk with the government of India about opening a corridor. Nepal’s provincial governments should also take the initiative to find out what India thinks about the connectivity projects. 

There was an enduring perception that India interfered in Nepal’s internal politics. But India of late seems to have changed its approach. Do you agree? 

I think more than India, it is Nepal that should change. If there is strong Nepal with strong leadership, India and its leaders will not interfere in Nepal’s affairs. Just look at India’s relations with Bangladesh and Sri Lanka. Where is the scope of interference? I think this issue can be resolved with strong Nepali leadership, institutions and policies. Every powerful country likes to manage and control a weak country. This is not just the case between India and Nepal. It is happening with China and its neighbors as well. 

The report of the Eminent Persons Group (EPG) that you helped draft has not been submitted to the respective governments. Why?

I do not know why the report’s submission has been delayed. Apparently, Prime Minister Narendra Modi has not accepted it. And unless he does, the hands of Nepal’s prime minister are tied as well. The report offers new direction and vision for Nepal-India relations. If the governments of the two countries were to study it, they would see its benefits. It encompasses many issues on the future of Nepal-India relations. 

How do you see China’s growing influence in South Asia including in Nepal? 

China is not a new player in South Asia. It has been competing against India for regional ascendance since the 1970s. In that decade, China built many highways in Nepal as well. But development projects are nothing new. What is new, however, is China capturing the state institutions of South Asian countries. To a large extent, China is influencing the people who manage these institutions. Now people suddenly understand what is happening. Just look at Sri Lanka. The country’s parties and institutions came under Beijing’s sway and the consequences are there for everyone to see.

Cloud kitchen or ghost kitchen service boomed during the Covid-19 pandemic. People were afraid to go out to eat and drink in restaurants, so they ordered in. Now that the pandemic fears have subsided, people have started visiting restaurants and bars. But curiously cloud kitchens still seem to be faring well. They have been catering to customers who are working or partying till late hours of the night, when conventional eateries are closed. Khaanpin Foods and Tours Pvt. Ltd started a ghost kitchen service in 2018 and has seen both the challenges and rewards of this relatively new member of Nepal’s food service industry. Anushka Nepal of ApEx talks to its founder Isha Balla. 

1. What inspired you to start a Khaanpin?

I started my career as an iOS developer and a content strategist in 2015. The working hours were long and I was constantly chasing deadlines. I had no time to cook and do the dishes. Eating out in restaurants was an option but they were closed when I was working till late at night. The idea for Khaanpin came from the necessity of food service for people who worked at night.

2. How did you turn that idea into a reality?

We started out small and with limited resources by renting an apartment in Lalitpur. Our objective was to provide food of all varieties to our clients at unconventional hours. My friends and family were very supportive of Khaanpin, which boosted my morale during the early days. Khaanpin is self-funded business. I have three other partners helping with the business. We are proud that today Khaanpin Foods and Tours Pvt. Ltd is Nepal’s leading food-tech hospitality company and the top cloud kitchen offering a wide range of food, bakery, and grocery selections all day all year in Kathmandu and Pokhara. 

3. How is Khaanpin different from other cloud kitchen platforms? 

Khaanpin is a multi brand cloud kitchen. We deliver Continental, Nepali, Indian, Chinese, Korean, Indo-Chinese and Newari dishes from our kitchen. Our menu is optimized to ensure food quality, ease of production and quick delivery. Our kitchen is centrally located at Pulchowk in Lalitpur, and at Zero K.M. in Pokhara for seamless and quick pickup and delivery. 

4. What were the challenges when you started out? 

It was relatively a new arena we were entering. As a result, it was hard to predict the outcome. The risk at the time seemed very high. However, with time, consistent efforts, tons of research and many hits and trials, the business took off. At Khaanpin, we take pride in calling ourselves a technologically driven hospitality company. Three business partners including me come from computer engineering background, so we have a robust technical system for every part of the order cycle. Our customers can place their orders from multiple platforms and all of them are monitored and handled by our in-house process management software.

5. What is the long-term vision of Khaanpin?

We are a woman-led company bringing freedom to food choices and availability 24/7. Khaanpin has provided employment opportunities to many people. We have more than 100 people working with us right now. Our long-term vision is to build an ecosystem around food service through vertical integration with farmers and producers, as well as introducing new innovations for pre-packed ready-to-eat meals. Khaanpin aims to set a benchmark in the Nepali service industry by providing quality food, timely delivery, and great customer service.

The Ministry of Foreign Affairs said that Nepal has been closely looking at the recent Taiwan issue.

Organizing a press conference on Friday, the Ministry clarified that Nepal is aware about the Taiwan issue.

Spokesperson at the Ministry of Foreign Affairs Sewa Lamsal said that Nepal is committed to One-China policy.

"Nepal and China have always been supporting each other's sovereignty, territorial integrity and national independence," she said, adding "As Nepal is a peaceful country, it is always in favor of international peace."

Home Minister Bal Krishna Khand has reiterated that Nepal is committed to One-China policy.

Minister Khand told Chinese Ambassador to Nepal Hou Yanqi that Nepal is committed to One-China policy.

The duo held a meeting at the Home Ministry on Friday.

"Nepal is in favor of One-China policy," Minister Khand said, adding "Nepal will never allow any forces to use its territory for anti-China separatist activities."

Recalling US House Speaker Nancy Pelosi's recent visit to Taiwan, the Chinese Ambassador expressed her confidence that Nepal will be committed to One-China policy.

The ruling coalition has decided to continue the alliance till the elections.

A meeting of the coalition held at Prime Minister Sher Bahadur Deuba’s official residence in Baluwatar on Friday decided to continue the alliance till the federal and provincial elections.

CPN (Unified Socialist) senior leader Jhalanath Khanal said that the parties associated with the ruling coalition have reached an understanding to complete all the process to forge electoral alliances by August 23.

“The parties have decided to move ahead by forging electoral alliances till the elections,” he said, adding, “A task force will be formed to complete the process to forge alliances.”

The government on Thursday had decided to hold the federal and provincial elections on November 20.

Minister for Foreign Affairs Narayan Khadka is set to leave for China.

Minister Khadka is visiting China at the invitation of State Councilor and Minister of Foreign Affairs of the People’s Republic of China Wang Yi from August 9 to 11, 2022.

During the visit, the two ministers will hold delegation-level bilateral talks, leading their respective delegations in Qingdao, China on August 10, read a statement issued by the Ministry of Foreign Affairs on Friday.

The Chinese minister will host a banquet in honor of Minister Khadka and the members of the delegation.

Khadka will return home on August 11.

The price of gold has increased by Rs 700 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the precious yellow metal is being traded at Rs 96, 800 per tola today.

Meanwhile, tejabi gold is being traded at Rs 96, 300 per tola.

The yellow bullion was traded at Rs 96, 100 per tola on Thursday.

Similarly, the price of silver is being traded at Rs 1,220 per tola today.