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The Nepal Stock Exchange (NEPSE) gained 6.55 points to close at 1,994.60 points on Thursday.

Similarly, the sensitive index surged by 1.06 points to close at 376. 36 points.

A total of 9,637,455-unit shares of 300 companies were traded for Rs 3. 15 billion.

Meanwhile, Bottlers Nepal (Balaju) Limited, Himalayan Laghubitta Bittiya Sanstha Limited, Nepal Hydro Developers Ltd. and Nepal Republic Media Limited were the top gainers today, with their price surging by 10. 00 percent. Likewise, Gurans Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 4.98 percent.

At the end of the day, total market capitalization stood at Rs 3. 07 trillion.

In their last dedicated discussion of the year on the Work Programme on E-commerce on 8 December, WTO members discussed text proposals for a ministerial decision to be considered at the 13th Ministerial Conference (MC13) in February 2024. The proposals address progress under the Work Programme, the moratorium on the imposition of customs duties on electronic transmissions and the development dimension of e-commerce, World Trade Organization reported.

The first proposal, coordinated by Switzerland and Canada, is supported by 21 members (WT/GC/W/909). It seeks to capture the progress accomplished under the Work Programme since MC12 and proposes the continuation of work under the Programme. It also calls for an extension of the e-commerce moratorium until MC14.

The second proposal, by South Africa (WT/GC/W/911), proposes practical steps to be pursued under the Work Programme, such as the establishment of a fund that could provide developing economies, including least developed members, with targeted support to address the digital divide. The proposal further calls for an end to the moratorium on e-commerce and the reinvigoration of the Work Programme with a focus on development issues.

A third proposal, put forward by Samoa on behalf of the African, Caribbean and Pacific Group WT/GC/W/916, takes note of the efforts to reinvigorate the 1998 Work Programme. It instructs members to further increase engagement under the Programme with a continued focus on the development dimension. It also proposes to extend the moratorium until MC14 and to hold further discussions on the scope, definition and impact of the moratorium, according to World Trade Organization.

In her concluding remarks, Ambassador Usha Dwarka-Canabady of Mauritius, the facilitator of the Work Programme on Electronic Commerce,  noted some commonality in members' views on these proposals, particularly the acknowledgment of the reinvigoration of the Work Programme and the need to continue this work with the development dimension at its  centre. The facilitator also noted that differences remain on the future of the moratorium, including the need for more discussions on its definition, scope and impact.

Looking ahead, she intends to hold consultations in mid-January ahead of the next dedicated discussion on 25 January 2024.

In her report to a meeting of the WTO’s Trade Negotiations Committee (TNC) on 12 December, Director-General Ngozi Okonjo-Iweala said it was incumbent upon WTO members to deliver concrete outcomes at the upcoming 13th Ministerial Conference (MC13) in Abu Dhabi next February. To achieve this, negotiators “need to conclude as much of the negotiations we can in Geneva” before the start of MC13, World Trade Organization reported.

“The world economy is not in good shape,” the Director-General told members in her capacity as TNC Chair. “We know people are bearing the brunt of slow growth, volatile prices, climate impacts and debt pressures. We have a responsibility to contribute to efforts to reinvigorate growth and opportunities for people everywhere.”

For this reason, “we must have a substantive and meaningful Ministerial with concrete results,” she said. “It is welcome that stakeholders increasingly understand that trade is part of the solution for many contemporary global challenges we are facing. But we still have the onus on us here in Geneva to deliver.”

The TNC heard reports from the chairs of the negotiations on agriculture, development and fisheries — Ambassador Alparslan Acarsoy of Türkiye, Ambassador Kadra Hassan of Djibouti and Ambassador Einar Gunnarsson of Iceland, respectively — on the state of play in their discussions.

On agriculture, Ambassador Acarsoy said members now had proposals on almost all negotiating topics on the table as well as on food security in general. The number of submissions “confirms the interest of members in achieving an outcome on agriculture,” he said, according to World Trade Organization.

Nevertheless, “there is clearly a lack of convergence in members' positions on the key negotiating issues,” Ambassador Acarsoy said, adding that for many if not all members, a lack of an outcome in agriculture at MC13 would be a “major setback.” The next round of agriculture negotiations will take place on 16-17 January, he added.

Ambassador Hassan said the importance of special and differential treatment for developing and least developed country members was reaffirmed at MC12 and during a Senior Officials Meeting on 23-24 October. She called on members to “seize the opportunity provided by this much-needed political guidance” to engage in positive and results-oriented discussions in the lead-up to MC13.

Ambassador Gunnarsson said that despite difficult discussions at the start of last week's “fish week” of negotiations, subsequent brainstorming sessions resulted in a “more positive tone which indicated to me that an outcome on fisheries subsidies by MC13 remains within reach.”

He said he would redouble efforts in the New Year by scheduling an intensive “fish month” of negotiations starting in mid-January.

The Director-General described the chair reports as “sobering, but still hopeful.”

“It is clear from the chairs' reports that we have the elements we need, but we are at the difficult stage of bridging gaps,” the Director-General said. “While this is normal prior to a Ministerial Conference where we are trying to deliver meaningful outcomes, we need to figure out in the short period left how we can make meaningful progress.”

“Let us recall the words that were said: that we want to de-dramatize the Ministerial Conference,” she added. “If that remains the case, then we must dramatize Geneva. So let's see how we can heat up the drama here so that we can deliver.”

Ambassador Athaliah Molokomme of Botswana, the Chair of the General Council, delivered a report on the drafting process she has been leading on a possible MC13 outcome document, World Trade Organization reported.

She noted that a “skeleton” of a possible outcome document was first circulated to members on 27 November. Part 1 of the text would focus on the broad political messages that ministers would want to put across at MC13 while Part 2 would reference any possible specific decisions/declarations.

Four rounds of consultations have taken place on the text, with a fourth revised text shared with members on 8 December. Ambassador Molokomme expressed hope that this later version would allow members to transition to a paragraph-by-paragraph discussion of a draft text starting in mid-January.

Nepal Students' Union (NSU), the student wing of Nepali Congress (NC), staged a demonstration in the Capital on Thursday against the Ncell share buyout.

The NSU staged the demonstration demanding that the corruption be rooted out and maintain good governance in the country.

The central ad hoc committee of the NSU staged the protest outside the Bagbazaar-based Padmakanya Campus this morning.

The students took to the streets demanding that Ncell share buyout among other corruption cases be investigated.

A writ has also been filed at the Supreme Court demanding to stop the sale and transfer of Ncell ownership.

The dispute had started after Malaysian company Axiata reportedly sold its 80 percent equity stake in Ncell, the private sector telecom giant.

Prime Minister Pushpa Kamal Dahal has said the government was determined to make Nepal's air safety systematic.

Receiving a memorandum submitted by a delegation led by Acting Chairperson of the Rastriya Swatantra Party (RSP), Dol Prasad Aryal, Prime Minister Dahal mentioned that the government was effortful to remove Nepal's air space from the blacklist of the European Union.  

On the occasion, the delegation drew the PM's attention on various issues including that the Civil Aviation Authority of Nepal (CAAN) should be serious over the issue and purchase of new aircraft should be transparent.

In response, the Prime Minister shared that he has been carrying out efforts continuously to remove Nepal's air space from EU's blacklist, and an environment of trust should be built to remove Nepal's air space from the blacklist through further reforms.

He further said, "I talked with EU's representatives on this issue. I also discussed with office-bearers of the Ministry of Culture, Tourism and Civil Aviation and CAAN time and again on this matter. Air safety has become a challenging issue for us.  It can raise questions on Nepal's image in the international arena. So, I am serious on this matter."

Stating that some improvements have been made in air safety this time, the PM said although there is a belief that Nepal's air space could be removed from the blacklist due to this, it was not sufficient.

"Our improvement was not sufficient. Activities should be carried out for further improvement. Your suggestions are important. Initiatives will be taken for a result-oriented outcome after holding further discussion with the regulatory body," viewed PM Dahal.

The price of gold has increased by Rs 2,800 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 118, 800 per tola today. It was traded at Rs 116, 000 per tola on Wednesday.

Similarly, tejabi gold is being traded at Rs 118, 250 per tola. It was traded at Rs 115, 450 per tola.

Meanwhile, the price of silver has increased by Rs 45 and is being traded at Rs 1, 455 per tola.  

Speaker of the House of Representatives, Devraj Ghimire, has said that the effectiveness of the Parliament to a large extent relies on the competency and activeness of the employees.

In a message today on the occasion of the Federal Parliament Service Day, 2080, Speaker Ghimire said that it is the responsibility of the Federal Parliament Secretariat to ensure the necessary human resources, information, technology and physical materials to the Parliament.

The parliamentary service has been separated from the civil service for effective performance of the service and to develop the parliamentary capacity and strength, so as to increase the effectiveness of oversight of the government, which is an important function of the Parliament, he said.

Article 207 of the Constitution of Nepal provides for a secretariat to operate and manage the work of the Federal Parliament and that the establishment of such a secretariat and other related provisions shall be in accordance with the federal law. The Parliament Service is a special, autonomous and professional service, which is run by a separate Act.

On this occasion, Speaker Ghimire also extended his best wishes to the staffers of the Federal Parliament Secretariat.

The Federal Parliament Service Day is observed every year on 28th of Mangsir in the Lunar calendar in commemoration of the formation of the Autonomous Parliament Service in the year 2058 BS.

Public transport entrepreneurs have suggested the government establish a competent transport authority for the improvement of public transport in the country.

Handing over a memorandum to Prime Minister Pushpa Kamal Dahal at a meeting on Wednesday, transport entrepreneurs affiliated to the Republican Transport Entrepreneurs Association demanded that the registration of associations and committees in the transport sector should be resumed, a transport directorate or authority should be established, end unnecessary tax revenue on public transport vehicles, register vehicles as per the provinces and set up training centers for producing drivers.

The team led by the President of the Association, Gyanendra Shrestha, also called for abolition of the five percent value added tax imposed on transportation, including transport workers in the social security fund, investments in public transport and removal of the impractical traffic fine policy.

Likewise, the 20-year-scrap policy imposed on public vehicles should be reviewed to allow vehicles to be operated by looking at the 'condition' of the vehicles, and to end the system of allowing vehicles coming from India to operate in Nepal without restrictions, according to Treasurer of the Association Purushottam Simkhada.