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Laxmi Intercontinental, the authorized distributor of Hyundai vehicles in Nepal has launched the facelift version of Hyundai Grand i10 Nios in the market with the slogan "More. The Merrier". Issuing a press statement, the company claimed that the new Hyundai hatchback is 'set to take the automotive segment by storm' due to its new and innovative combination of cutting-edge technology, high performance, attractive design, distinctive features, and thoughtful safety features that cater to the modern driver's needs. With its new benchmark-setting features, the company anticipates that Grand i10 Nios will become another best-selling car in the Nepali market. "With its sleek, new-age style and state-of-the-art features, The hatchback will surely turn heads wherever you go. Revolutionary and distinctive touch is added to the overall appearance of the new Grand i10 Nios with its first in-segment-extended LED Tail Light with a connected light bar at the rear of the vehicle. The new Painted Black Radiator Grille and LED Daytime Running Lamps (DRLs) on the front of the new Grand i10 Nios give the vehicle a stylish and sporty edge. Similarly, its 15-inch Dual Tone Styled Steel Wheel, Projector Headlamps, Shark Fin Antenna, and Roof Rail give the hatchback an unmistakably unique identity," reads the statement. According to the company, the interior of the all-new Hyundai Grand i10 Nios boasts a modern and refreshing layout with its Dual Tone Gray interiors. The hatchback comes with new features like semi-fabric seats, tilt steering, a cooled glove box, footwell lighting, an 8'' Infotainment System and a rear USB charger. "Furthermore, the all-new Grand i10 Nios is packed with high-tech features and has set a new standard as a technology-friendly car. Its latest features include a Wireless Phone Charger, Fast USB Type C Charger, Cruise Control, Voice Recognition, Apple CarPlay, and Android Auto," said the company, adding, "The driver can obtain other information such as fuel economy, average vehicle speed, and service reminders from the Multi-Info Display (MID) feature in the digital instrument cluster of the new Grand i10 Nios." According to the statement, the safety features in the all-new Hyundai Grand i10 Nios are unmatched. The body of the hatchback is made with Advanced High-Strength Steel (AHHS), making it stronger and safer than ever before. It features Four Airbags, Tyre Pressure Monitoring System, Automatic Headlamps, Electronic Stability Control (ESC), Vehicle Stability Management (VSM), Hill-Start Assist Control (HAC), Rear Parking Camera with Display on Audio, and other special features. Additionally, the facelift model has safety features like a Speed Alert System, Burglar Alarm, Rear Defogger, Impact Sensing Auto Door Unlock, Speed Sensing Auto Door Lock, Headlamp Escort System, and Emergency Stop Signal. The company informs that the Grand i10 Nios comes with a powerful 1.2L petrol engine. With a ground clearance of 165mm, the hatchback offers the perfect combination of power and agility for that thrilling driving experience. The Grand i10 Nios is available in Era, Magna, and Sportz variants in the MT option and Magna and Sportz in the AMT Option with a starting price of Rs 29,96,000.  

The Nepal Stock Exchange (NEPSE) plunged by 26. 47 points to close at 1,969.02 points on Thursday. Similarly, the sensitive index dropped by 4. 81 points to close at 373. 56 points. A total of 3,657,154 unit shares of 256 companies were traded for Rs 1. 33 billion. Meanwhile, Buddha Bhumi Nepal Hydropower Limited was the top gainer today with its price surging by 4. 29 percent. Likewise, Global IME Laghubitta Bittiya Sanstha Limited was the top loser with its price dropped by 7. 00 percent. At the end of the day, the total market capitalization stood at Rs 2. 84 trillion.

The implementation of the programs announced by the government in the federal budget has always remained sluggish in Nepal. A study by the Confederation of Nepalese Industries (CNI) shows that in the first seven months of the current year, there has been no progress in 57 percent of the economic sector programs announced in the budget for the current fiscal year. The study highlights there is no satisfactory progress in most of the policies and programs that are directly related to the economic sectors. In its 'CNI Budget Watch' initiative, CNI has identified 63 points related to the economic development of the country, investment, and the private sector. According to the study, the progress of 36 of those points has been zero. As per report, about 48 percent of the points suggested by the CNI for the budget of the current fiscal have been included in the annual policy and program (budget) of the government. However, the implementation side is far from satisfactory. The 'CNI Budget Watch' has included eight sectors, namely new entrepreneurship, innovation and information technology, tourism, industry, small and medium industries, investment, energy, infrastructure and agriculture, domestic production, and export promotion. The CNI study says, of the 63 points related to economic sectors, only nine points (14.28 percent) have been fully implemented by the government agencies till mid-February. Among those are the policy of a minimum threshold of Rs 20m in foreign direct investment, arrangements of automatic approval of investments up to Rs 100m, 10 percent share reservation in the initial public offering (IPO) of companies for Nepalis in foreign employment, and initial approval of large foreign investments through electronic means within seven days. Similarly, the study shows 28.57 percent (18 points) were partially implemented. However, the remaining 57.14 percent (36 points) of policies and programs have no progress at all. "The ineffective implementation of the budget has not only hit the government revenue collection but an uncomfortable liquidity situation and the contraction in demand has also discouraged the private sector from new investments," states CNI. Most of the policies and programs announced in the budget related to the industry, land, infrastructure, foreign direct investment, and public-private-partnership which are important for economic development, have made no progress. "81.48 percent of the 27 important announcements of the federal budget related to these areas have not yet been implemented," said the study. Similarly, there has been no progress in the announcement such as the construction and operation of the industrial areas in potential areas including Shaktikhor in Chitwan in public-private-partnership, reviewing the provisions regarding the delimitation of land required for the establishment of industries, arranging the land lease for 50 years for industries, and mortgaging of land in excess of the limit in the name of industrial businesses to take loans. Budget announcements related to improving laws and procedures related to foreign investment to bring in investment from non-resident Nepalis, granting permission to Nepali construction professionals to do construction business abroad, raising resources for infrastructure development by issuing green bonds, making arrangements for the construction of the Mirchaiya-Lukla-Sagarmatha Expressway with private sector investment are also yet to see implementation. Status of Budgetary Programs' Implementation

In what could be seen as a relief to the Nepali tourism sector, tourist arrivals in the country in February stood at 73,255. There were fears that the Yeti Airlines plane crash in Pokhara in January could affect the arrival of foreign visitors. However, the latest statistics of the Nepal Tourism Board (NTB) show a growing number of tourists coming to Nepal. According to NTB statistics, 128,329 tourists visited Nepal in the first two months of 2023. The tourist arrival in February this year is the highest in the last three years. Nepal welcomed 19,766 tourists in February 2022 and 9,146 tourists in February 2021. Before the global travel restrictions due to the Covid-19 pandemic came into force, 98,190 tourists had come to Nepal in February 2020. With China announcing the reopening of outbound travel for its citizens, there has been growth in the number of Chinese tourists in February. A total of 2,266 Chinese tourists came to Nepal in February compared to 1,426 in January. While the number of Chinese visitors is gradually growing, Nepal received the highest number of tourists from India and the US in February. According to NTB, 18,401 Indian tourists and 7,887 US visitors came to Nepal in February. The country welcomed 4,802 tourists from Thailand, 4,325 from the United Kingdom, 3,246 from South Korea, 2969 from Australia, 2,232 from Myanmar, 2,175 from Sri Lanka, and 2108 from Germany. With the easing of travel restrictions and China reponing outbound travel, 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. Nepal welcomed only 9,595 Chinese tourists in 2022. Tour operators say they are receiving increasing inquiries from major source markets including China of late. While the FITs (free independent travelers) have already started coming to Nepal, group travelers from the northern neighbor are yet to come here. Travel trade entrepreneurs say that a significant contribution of Chinese tourists would be required if Nepal wants to meet the target of one million in 2023. The tour operators expect Nepal to be included in the next list of China's destination countries hopefully as early as possible. However, China has failed to include Nepal in its list of countries where its citizens can travel starting from February 6. China has included 20 countries in the first phase where Chinese travelers can travel. The northern neighbor included Thailand, Indonesia, Cambodia, Sri Lanka, Maldives, Malaysia, the Philippines, Singapore, Laos, United Arab Emirates, Egypt, Kenya, South Africa, Russia, Switzerland, Hungary, New Zealand, Fiji, Cuba, and Argentina as an outbound destination for Chinese citizens to travel as the pilot destinations. Besides China opening the door for its citizens to visit Nepal, their arrivals will also depend on how quickly flights between the two countries are normalized, according to tour operators. Himalaya Airlines has recently resumed its Kathmandu-Beijing direct flight after a hiatus of 32 months. Tourist Arrivals