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The price of gold has increased by Rs 400 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 110, 400 per tola today. It was traded at Rs 110, 000 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 109, 850 per tola. It was traded at Rs 109, 550 per tola. Similarly, the silver is being traded at Rs 1,375 per tola today.

In what augurs well for the Nepali tourism industry, the number of tourist arrivals has reached 476,507 in the first half of 2023. The tourist arrival has surged by 97.79 percent in the first six months of 2023 compared to the same period in 2022. With healthy growth in tourist arrivals from the start of this year, tourism entrepreneurs are expecting 1m international visitors in the country by the end of 2023. While tourist arrivals have improved significantly compared to the last three years, the number is yet to touch the pre-Covid level. Nepal had received 573,658 tourists in the first six months of 2019. The arrival of foreigners in the first six months of 2023 is 83.06  percent compared to the same period in 2019. According to the latest statistics from the Nepal Tourism Board (NTB), Nepal welcomed 72,250 foreign visitors in June. The tourist footfall in June 2023 is 96.48 percent compared to June 2019 when 74,883 foreigners visited Nepal. Nepal welcomed 55,074 international visitors in Jan, 73,255 in Feb, 99,426 in March, 98,773 in April, and 77,703 in May. Nepal received the highest number of tourists from India, the US, and China in June. According to NTB, 38,845 Indian tourists and 8,470 US visitors came to Nepal in June. The country welcomed 4,343 tourists from China, 2,402 tourists from Bangladesh, 1,992 from the United Kingdom, 1,639 from Australia, 1,079 from Malaysia, and 8,88 from South Korea. With the easing of travel restrictions and China reponing outbound travel for its citizens, Nepali tourism entrepreneurs are pinning high hopes for 2023. NTB on its 24th anniversary announced that it aims to attract at least one million foreign tourists in 2023. In 2022, tourist arrivals reached over 600,000 without any significant contribution from China. Only 9,595 Chinese tourists visited Nepal in 2022. Tour operators say they are receiving increasing fresh inquiries from major source markets including China. While the FITs (free independent travelers) have already started coming to Nepal, group travelers from the northern neighbor arrived in the second week of April, the first group tour from China after the Covid-19 pandemic. The arrival of 180 Chinese trekkers in Nepal on April 13 has rekindled hopes for Nepal’s tourism sector. They were the first of four batches of nearly 8,00 Chinese trekkers to visit Nepal to trek on the Poon Hill trail located some 270 kilometers west of Kathmandu. This visit has come after China included Nepal on a second list of 40 destinations for group tours that Chinese nationals could visit starting from March 15. After the northern neighbor allowed its citizens to visit Nepal, NTB and Nepali travel trade entrepreneurs are visiting various Chinese cities to promote Nepal tourism. Travel trade entrepreneurs say that a significant contribution of Chinese tourists would be required if Nepal wants to meet the target of one million visitors in 2023.

The Nepal Stock Exchange (NEPSE) plunged by 21. 32 points to close at 2,075. 97 points on Monday. Similarly, the sensitive index dropped by 4. 17 points to close at 386. 35 points. A total of 9,418,952-unit shares of 276 companies were traded for Rs 4. 05 billion. Meanwhile, CYC Nepal Laghubitta Bittiya Sanstha Limited and BPW Laghubitta Bittiya Sanstha Limited were the top gainers today with their price surging by 10. 00 percent. Likewise, Laxmi Equity Fund was the top loser with its price dropped by 8. 95 percent. At the end of the day, the total market capitalization stood at Rs 3. 03 trillion.

The final agreement on a long-term electricity trade deal between Nepal and India could be realized within this fiscal year. According to Energy Ministry officials, preparations are being made to sign the final agreement within Ashad (mid-July). The draft of the final agreement on long-term electricity trade between Nepal and India has also reached the Indian cabinet. Once the agreement is endorsed by the Indian cabinet, the final agreement on long-term electricity trade between India and Nepal will be signed, according to Energy Ministry officials. “Once the draft is endorsed by the Indian cabinet, the final agreement will be signed,” said Madhu Bhetuwal, spokesperson at the Energy Ministry. “The final draft has already been approved by our cabinet.” Nepal and India were supposed to sign the final agreement in the third week of June in New Delhi. While Energy Secretary Dinesh Kumar Ghimire did travel to New Delhi, the signing did not take place. Energy Ministry officials said the final deal signing was delayed as Indian Prime Minister Narendra Modi was busy on an abroad visit. The signing of the agreement, according to the Energy Ministry will most probably take place in Kathmandu. Energy Secretary Ghimire and his Indian counterpart Alok Kumar will sign the final agreement. Nepal and India had signed an initial agreement between Nepal and India at the energy secretary level on June 2 in New Delhi. During Prime Minister Pushpa Kamal Dahal’s India visit, the southern neighbor agreed to buy 10,000 MW of electricity from Nepal in the next 10 years. Nepal has been requesting the southern neighbor for a long-term power trade deal arguing that an inter-government agreement would lock in the market and end the unpredictability of the Indian market’s availability for electricity from Nepal in the long run. According to Bhetuwal, the agreement is an umbrella agreement that will pave the way for power trading agencies in Nepal and India such as Nepal Electricity Authority and NTPC Vidyut Vyapar Nigam Limited (NVVN) to enter into a long-term power purchase agreement (PPA).  The NEA and NVVN will sign a separate agreement for commercial deals. The long-term power deal has become of paramount importance for Nepal with the country's electricity generation capacity gradually increasing. If the market for Nepali electricity is not ensured, the country faces the risk of electricity spillage every year, especially during the wet season.  In the rainy season last year, the country’s electricity spillage reached as high as 800 MW during the festive period in October and November. The country’s generation capacity has already reached nearly 2,700 MW which requires more exports to India to avoid spillage in the rainy season when power plants start generating power at their full capacity. According to NEA Executive Director Kulman Ghising, the country is expected to produce surplus energy of 1,000 MW in this wet season. The country’s power generation capacity is rising along with the completion of one after another power projects. The country’s power generation capacity is expected to rise to 2,853 MW by the end of the current fiscal year, according to NEA. The projected peak domestic demand for power in the current fiscal year is 2,036 MW. By the end of the next fiscal year 2023/24, the country’s electricity generation capacity is expected to rise further to 4,507 MW and to 5,251 MW by the end of fiscal 2024/25. Nepal exported power worth over Rs 11bn in the last wet season.