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The Nepal Stock Exchange (NEPSE) gained 79.82 points to close at 2,874.60 points on Thursday.  

Similarly, the sensitive index surged by 11.83 points to close at 501. 10 points.

A total of 38,634,350-unit shares of 311 companies were traded for Rs 16. 59 billion.

Meanwhile, Trade Tower Limited (TTL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, NIBL Stable Fund was the top loser as its price fell by 7.58 percent.

At the end of the day, total market capitalization stood at Rs 4. 78 trillion.

An explosive-laden drone crashed early Thursday near Erbil, the capital of Iraq’s Kurdistan region, with no casualties reported, according to the regional counter-terrorism directorate.

The crash comes amid a sharp rise in drone attacks across northern Iraq, mostly targeting oil fields operated by foreign companies. This week alone, facilities run by Norwegian firm DNO and US companies in areas including Faysh Khabur, Tawke, Baadre, and Duhok have been hit, according to Xinhua.

No group has claimed responsibility for the attacks.

Brazil has formally protested the US decision to impose 50 percent tariffs on all Brazilian exports from August 1, calling the move harmful to both economies and a threat to long-standing bilateral ties, according to Xinhua.

In a letter to US officials, Vice President Geraldo Alckmin and Foreign Minister Mauro Vieira expressed “indignation” over the decision, announced by US President Trump on July 9.

A Quaest poll shows 72 percent of Brazilians oppose the tariffs, with most fearing economic fallout. Over half back Brazilian President Lula da Silva’s call for reciprocal measures, as his approval rating sees a slight boost, Xinhua reported.

Meanwhile, the US has launched a probe into Brazil’s digital trade practices, claiming they disadvantage American businesses.

Havalah Hopkins rarely says no to the chain restaurant catering gigs that send her out to Seattle-area events — from church potlucks to office lunches and graduation parties, Associated Press reported.

The delivery fees and tips she earns on top of $18 an hour mean it’s better than minimum-wage shift work, even though it’s not consistent. It helps her afford the government-subsidized apartment she and her 14-year-old autistic son have lived in for three years, though it’s still tough to make ends meet.

“It’s a cycle of feeling defeated and depleted, no matter how much energy and effort and tenacity you have towards surviving,” Hopkins said, according to Associated Press.

Still, the 33-year-old single mother is grateful she has stable housing — experts estimate just 1 in 4 low-income households eligible for U.S. Department of Housing and Urban Development rental assistance get the benefits. And now Hopkins is at risk of losing her home, as federal officials move to restrict HUD policy.

Commercial banks have further lowered their interest rates on deposits. A study of the interest rates for the month of Shrawan (mid-July to mid-August) published by the Class ‘A’ banks shows the average interest rate on individual fixed deposits has decreased by 0.2 percentage points.

Out of the 20 commercial banks in the country, 14 have reduced their maximum deposit rates, while four have kept them unchanged and two have made a slight upward revision. Standard Chartered Bank Nepal Ltd offers the highest interest on deposits, while Prabhu Bank offers the lowest. Standard Chartered and Himalayan Bank are the only two banks that have raised their deposit rates for the next month. Machhapuchchhre, Global IME, NMB and Siddhartha Bank, on the other hand, have left their interest rates unchanged.

Nine commercial banks are offering individual fixed deposit rates of six percent or higher. Standard Chartered leads with the highest rate at 6.26 percent, followed by Everest Bank and NIC Asia at 6.25 percent each. Sanima Bank is offering 6.18 percent, while Machhapuchchhre, Prime Commercial, Global IME, and NMB Bank are each offering 6 percent

Similarly, ten banks are offering individual fixed deposit rates ranging between five percent and 5.9 percent. Siddhartha Bank and Kumari Bank are offering 5.75 percent and 5.61 percent, respectively. Rastriya Banijya Bank, Nabil Bank, Laxmi Sunrise, and Citizens Bank International each offer 5.5 percent. Agricultural Development Bank and Nepal Bank are providing 5.4 percent, while Nepal SBI and NIMB are offering 5.35 percent and 5.25 percent, respectively. At the lower end, Prabhu Bank offers the lowest individual fixed deposit rate at 4.25 percent, a drop of 1.85 percentage points.

This downward revision follows Nepal Rastra Bank’s decision to cut all rates within the interest rate corridor. Through the Monetary Policy for Fiscal Year 2025/26 unveiled last week, the central bank reduced the bank rate from 6.5 percent to six percent, the policy rate from 5 percent to 4.5 percent and the deposit collection rate (floor rate) from three percent to 2.75 percent.

With the floor rate coming down, banks have decreased their minimum savings interest rates accordingly. The minimum savings rate had previously stayed just above three percent as lowering the rates below the floor rate would have denied banks access to the central bank’s Standing Deposit Facility (SDF). Now, with the central bank itself reducing the floor rate, saving rates of banks have come down further.

Alongside savings interest rates, banks have also reduced interest rates on fixed deposits. The base rate of two commercial banks has already fallen below five percent. If rates drop further, loans are expected to become even cheaper.

Canadian Prime Minister Mark Carney has announced new limits on foreign steel imports, aiming to shield Canada’s struggling steel sector from cheap overseas competition and ongoing US tariffs, according to Firstpost.

Imports from non-free trade partners like China and Turkey will be capped at half of 2024 levels, with a 50 percent tariff on any excess. Similar limits and tariffs will apply to imports from other free trade partners, excluding the US and Mexico. Additionally, a 25 percent tariff will target steel from non-US countries if it was melted and poured in China.

Carney said the changes will help Canadian producers secure a larger share of the domestic market. Existing rules under the Canada-US-Mexico Agreement remain unchanged, Firstpost reported.

Industry leaders welcomed the move, calling it a needed step to stabilize the sector.

A fire that tore through a shopping centre in the Iraqi city of Kut has left dozens dead and injured, state media has reported, BBC reported.

The blaze at the mall, which had reportedly opened five days ago, broke out on Wednesday night and has since been brought under control.

Medical officials quoted by news agency AFP said 55 people died in the fire, with rescuers still looking for missing people.

"A tragedy and a calamity has befallen us," regional governor Mohammed al-Miyahi said, adding that legal action would be brought against the shopping centre's owner, according to BBC.

The Kavrepalanchowk road section along the BP Highway is to remain closed for 12 hours at night for a month.

The District Administration Office, Kavrepalanchowk has confirmed the closure of traffic from Kavrebhanjyang to Nepalthok, the border with Sindhuli, for one month, bearing in mind the increased risk of landslides and floods during the active monsoon season.

The closure will be enforced from 5 pm to 5 am, said Chief District Officer of Kavrepalanchowk, Umesh Kumar Dhakal.

Previously, a meeting of the inter-district coordination committee of Kavrepalanchowk, Sindhuli, and Ramechhap districts had decided to close the highway from 6:30pm to 5 am, beginning on June 21.

In the past week alone, floods and landslides have already disrupted this section four times.

The devastating flooding caused by unseasonal downpours in September 2024 had significantly damaged the BP Highway, particularly from Chaukidanda of Kavrepalanchowk to Barshekhola of Sindhuli. An eight-kilometre section was swept away by the flood.

Of the total 160-km highway, 34 kilometres on the third section from Khurkot to Nepalthok of Sindhuli and 50 kilometres on the fourth section from Nepalthok to Dhulikhel of Kavrepalanchowk were damaged at various locations.

Contracts have begun for restoring the highway in four sections, it has been said.

As the shortest route connecting the Kathmandu Valley with eastern Nepal, the highway sees the movement of thousands of vehicles each day.