Gold being traded at Rs 111, 100 per tola on Friday
The gold is being traded at Rs 111, 100 per tola in the domestic market on Friday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 110, 550 per tola.
Similarly, the silver is being traded at Rs 1,450 per tola today.
Japanese MPs urged to bring in more investment to Nepal
The Nepal Chamber of Commerce (NCC) has urged the visiting Japanese Members of Parliament (MPs) to bring in more investment to Nepal from Japan.
Members of the Upper House of the Parliament of Japan as well as the members of the Nepal-Japan Parliamentary Friendship Group Kobayashi Kazuhiro and Nagai Manbu are on Nepal visit.
During the meeting with the NCC team on Thursday, the NCC representatives asked the Japanese MPs for their initiatives to increase Japanese investment in Nepal adding that diplomatic and economic relations between Nepal and Japan are historical.
On the occasion, NCC Chairman Rajendra Malla said that mutual cooperation between Nepal and Japan should be further strengthened through increased investment and business partnership.
Malla also requested the Japanese MPs to create an environment for more investment in Nepal's hydropower, infrastructure, tourist and technology sectors.
He said that technology transfer in agriculture would help Nepal to get more benefits.
Nepal’s foreign trade declines by 2.28 percent
Nepal’s foreign trade has declined in the first month of the current fiscal year 2023/24. According to the latest foreign trade statistics released by the Department of Customs, both imports and exports declined in Shrawan (mid-July to mid-August). The imports shrunk by 1.56 percent in Shrawan as the country imported goods worth 129.23bn in Shrawan. The imports in the first month of 2022/23 stood at Rs 131.28bn. On the other hand, Nepal’s exports decreased by 8.65 percent to Rs 13.52bn. The country had exported goods worth Rs 14.80bn in the first month of 2022/23. With both imports and exports declining, the country’s total foreign trade decreased by 2.28 percent.
According to the Customs Department, there has been a big decline in the import of petroleum products in Shrawan. The country’s petroleum products’ import bills stood at Rs 21.98bn compared to Rs 25bn during the same period of the last fiscal.
There has been growth in the imports of iron and steel compared to the last fiscal. Nepal imported iron and steel worth Rs 12.95bn in this Shrawan compared to Rs 11.23bn in the last Shrawan. The country’s vegetable imports stood at Rs 2.5bn, medicine imports at Rs 2.81bn and vehicle imports at Rs 4.29bn.
Nepse plunges by 31. 52 points on Thursday
The Nepal Stock Exchange (NEPSE) plunged by 31. 52 points to close at 2,013.93 points on Thursday.
Similarly, the sensitive index dropped by 4. 72 points to close at 385. 56 points.
A total of 4,657,137-unit shares of 275 companies were traded for Rs 1. 55 billion.
Meanwhile, Kutheli Bukhari Small Hydropower Limited was the top gainer today with its price surging by 9. 99 percent. Likewise, Molung Hydropower Company Limited was the top loser as its price fell by 8. 54 percent.
At the end of the day, the total market capitalization stood at Rs 3. 01 trillion.
