Gold price increases by Rs 700 per tola on Sunday
The price of gold has increased by Rs 700 per tola in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 148, 800 per tola today. It was traded at Rs 148, 100 per tola on Friday.
Similarly, the price of silver has increased by Rs 10 and is being traded at Rs 1,720 per tola today.
Baglung sees rising investment in hotels with tourists' inflow up
Tal Bahadur Kunwar, a folk of Kathekhola Rural Municipality-7, Resha, who has ventured out the hotel business for the last 20 years after quitting teaching profession, has spurred his investment with the rise in the inflow of tourists in the district.
His hotel has been popular as a 'VIP' one in Baglung. He had initiated the hotel business from four rooms in a small house. Now, he has 24 rooms in the hotel and investment has increased to Rs 20 million.
With the rise in the arrival of domestic and foreign tourists, other entrepreneurs here have also started operating well-equipped hotels. Another hotel with 30 rooms is in final preparations of its operation in Baglung Bazaar.
Investors claim that this will be the most convenient hotel here.
Entrepreneur Kunwar saw the need of star hotels in the district after tourists' influx increased in a gradual manner.
Arjun Chokhal, who has been running hotel enterprises in Baglung since 2065 BS, has already invested Rs 40 million in the hotel business.
Tourism destinations like Kalika Temple, world's second longest suspension bridge, Banji Bridge, Panchakot and Shalgram Museum have attracted a large number of domestic tourists here.
China to assist Nepal in establishing fertilizer plant
The government of China has showed readiness to provide assistance to Nepal in establishing a fertilizer plant. According to Chinese Ambassador to Nepal, Chen Song, the Chinese government was ready to complete all the works related to the establishment of a fertilizer plant within the next year.
In a discussion with editors of mainstream media including the Rastriya Samachar Samiti (RSS) on Thursday evening, Chinese Ambassador Song reiterated that the works related to fertilizer plant would be launched as soon as the Investment Board Nepal approves the proposal related to it. "Our aim is to run a fertilizer plant utilizing the electricity and water resources abundantly available in Nepal. Our priority is relationship with Nepal and its betterment," the Chinese envoy reiterated, adding that China always wants to support for socio-economic development of Nepal.
He also informed the editors that a team of Chinese technicians were currently in Nepal to conduct feasibility study of the Nepal-China cross-border transmission line. Song argued that the development of hydro power and cross-border power trade would be instrumental in fulfilling the national aspiration of 'Prosperous Nepal, Happy Nepali'.
Reaffirming China's commitment for utmost support in Nepal's national goal to graduate from the Least Developed Countries status to the middle-income country (by 2026), he informed that the recently held third meeting of the Communist Party of China (CPC) had opened China's labour market for employment for other countries in the world, including Nepal.
In the wake of the third meeting of the CPC, a high-level American delegation is visiting China to identify the investment opportunities, according to him. Song further shared the CPC's third meeting presided by Chinese President Xi Jinping had announced over 300 reform measures. He pledged to bolster bilateral cooperation for the development of Nepal. The electricity produced in Nepal could be consumed in Chinese market as well.
On a different note, he said that Nepali students pursuing higher studies in China would get employment opportunities with the provision of internship. Ambassador Chen expressed the view that reforms announced by China would further deepen China-Nepal partnership and Nepal could also utilize results of development achieved by China. He showed confidence that Nepal's development would get momentum within next five years.
The Chinese Ambassador laid emphasis on maximum tourism infrastructures to attract Chinese tourists. He explained that China was ready to transfer technology. Moreover, Ambassador Chen reminded that the 'Road and Belt Initiative' forwarded by President Xi Jinping with an objective of preparing infrastructures of the development would benefit all member countries. He, however, made it clear that BRI implementation document was not signed with Nepal in lack of completion of some technical activities, adding BRI agreement between Nepal and China would be signed within few months.
The Chinese Ambassador mentioned, "We have given importance to the development of Nepal-China relations. We are ready to further strengthen Nepal-China comprehensive cooperation with everlasting friendly relations for the welfare of the people of both countries."
Gold price increases by Rs 1, 500 per tola on Friday
The price of gold has increased by Rs 1, 500 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 148, 100 per tola today. It was traded at Rs 146, 600 per tola on Thursday.
Similarly, the price of silver has increased by Rs 40 and is being traded at Rs 1,730 per tola today.
