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The price of gold has increased by Rs 900 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 112, 500 per tola today. The gold was traded at Rs 111, 600 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 111, 950 per tola. It was traded at Rs 111, 050 per tola. Similarly, the silve is being traded at Rs 1,420 per tola today.

After pushing insurance companies to consolidation, the Nepal Insurance Authority (NIA), the regulator of the insurance sector, has initiated a study, for the first time, to find out the 'required number of insurance companies in the country'. NIA, which is conducting the study with the technical support of Tribhuvan University. NIA forced insurance companies to go either for mergers or acquisitions by raising the minimum paid-up capital requirements for both life and non-life insurers. The regulator has increased the paid-up capital of non-life insurance companies to Rs 2bn while it is Rs 5bn for life insurance companies. The consolidation in the insurance sector has brought down the number of insurance companies over the last one year; the number of non-life insurance companies has declined to 15 from earlier 20, while the number of life insurance companies came down to 14 from 19. While the numbers have decreased, NIA wants to ascertain the required number of insurers in Nepal. The NIA Executive Director Raju Raman Paudel said that a study has been initiated to find how many companies are needed in the country. "The recent merger drive has reduced the number. However, there has been no study to exact the required number of insurance companies for the Nepali market," said Paudel, "We have started its study with the technical support of the Central Department of Economics of Tribhuvan University. NIA will adopt a policy based on the findings of the study." Given the size of the market and geography, experts say the number of insurance companies in Nepal is still more. Despite a surge in insurance companies' numbers, insurance services have not yet been expanded to rural areas of the country as insurance companies are mainly concentrated in cities and urban areas. The merger momentum in the Nepali insurance sector intensified after NIA increased the minimum paid-up capital requirements for insurers of both categories. The authority has been pushing for consolidation in the Nepali insurance sector since the new Chairman Surya Silwal took charge of NIA nearly two years ago. Though there have been successful mergers, most companies are yet to increase their paid-up capital to meet the regulatory requirement. After NIA issued the directive on paid-up capital increment, only four insurance companies raised their capital as per the regulatory requirement. Among the life insurance companies, the paid-up capital of Nepal Life Insurance Company is above Rs 5bn. Three non-life insurance companies - Shikhar Insurance, Siddhartha Premier Insurance, and Sagarmatha Lumbini Insurance have also met the regulatory obligation. As the paid-up capital of the majority of insurance companies is below the regulatory requirement, NIA extended the deadline to mid-July, 2023.  

Two new smartphones from Realme have been launched in Nepal. The Chinese handset brand introduced Narzo N53 and N55 last week. According to the company, the new smartphones offer cutting-edge features, sleek designs, and powerful performance to cater to the needs of dynamic Gen-Z users in the Nepali market. The Narzo N53 is Realme's slimmest smartphone ever, featuring an ultra-slim 7.49mm body. Its slim form factor is complemented by a C-angle bezel design. The 6GB RAM of narzo N53 can be expanded up to an additional 6GB of virtual RAM, providing users with a 12GB-like experience. According to Realme, the phone comes up with a high-quality 6.74-inch screen with a 90.3 percent screen-to-body ratio. The display supports a 90Hz refresh rate and FHD+ resolution, which is the highest in its price range. The phone also has a brightness of 450 nits and a touch sampling rate of 180Hz. The company claims the Narzo N53 stands out with its 33W SUPERVOOC charging, which is the fastest in the segment. This technology utilizes high-voltage, low-current charging methods for rapid charging. It only takes 31 minutes to charge up to 50 percent and 88 minutes for a full charge. The phone is powered by a huge 5,000mAh battery and incorporates top-notch charging protection systems, ensuring both fast and safe charging. The Narzo N53 comes with a powerful 50MP primary AI camera, enabling users to effortlessly capture detailed and high-quality photos. The camera supports various modes including Night Mode, Portrait Mode, HDR, AI Scene Recognition, and Bokeh Effect Control, among others. The phone also features an 8MP selfie camera with an f/2.0 large aperture. The front camera also captures excellent-quality selfies with features such as Portrait Mode, Filters, AI Beauty, and HDR. Meanwhile, the Realme Narzo N55 consists of features including a 33W fast charging, 64MP AI camera, MediaTek Helio G88 Chipset, 12 GB of Dynamic RAM, and a 90 Hz FHD+ display, making it a top pick for the segment. The phone comes with realme UI 4.0 out of the box, featuring a new "Auto Pixelate" feature that enhances user privacy by automatically pixelating profile photos and names in screenshots. According to Realme, the Narzo N55 is powered by a MediaTek Helio G88 processor. The phone has a 90Hz refresh rate FHD+ display and a punch-hole screen. The N55 offers a 6.72-inch full screen with a screen-to-body ratio of 91.4 percent and FHD+ resolution. The phone has a 64MP primary camera with a 0.7μm big pixel size and a 1/2" sensor size. The device also has an 8MP selfie camera and a B&W lens with a 2MP resolution on the rear. "The Narzo N53 is the slimmest entry-level all-rounder, combining a sleek design with powerful performance. On the other hand, the Realme Narzo N55 takes the smartphone experience to the next level as a next-gen powerhouse," said Munish Giri, Country Head of realme for Nepal. The Narzo 53 with a storage capacity of 4+64 GB, is priced at Rs 15,999 while the variant with 6+128 GB storage is priced at Rs 18,999. Similarly, the Narzo N55 with 4+64 GB storage is priced at Rs 20,499, while the 6+128 GB variant is priced at Rs 24,499. The Narzo N55 is available in stunning Prime Black and Prime Blue. Likewise, the narzo N53 is available in beautiful Feather Gold and Feather Black color.  

The Nepal Stock Exchange (NEPSE) plunged by 17. 38 points to close at 1,901.99 points on Monday. Similarly, the sensitive index dropped by 2. 88 points to close at 362. 22 points. A total of 5,620,381-unit shares of 277 companies were traded for Rs 1. 97 billion. Meanwhile, River Falls Power Limited was the top gainer today with its price surging by 10. 00 percent. Likewise, Shivam Cements Ltd was the top loser with its price dropped by 4. 50 percent. At the end of the day, the total market capitalization stood at Rs 2. 77 trillion.