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The price of gold has dropped by Rs 11, 600 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 241, 900 per tola today.

Similarly, the silver is being traded at Rs 3, 015 per tola.

Foreign direct investment (FDI) commitments surged by a whopping 113.68 percent in the first quarter of the current fiscal year.

According to the Department of Industry (DoI), Nepal received FDI commitments worth Rs 35.13bn for 311 projects during the review period.

In comparison, such commitments had stood at Rs 16.44bn for 204 projects in the same quarter of the previous fiscal year.

The DoI’s monthly report shows that it received FDI commitments worth Rs 2.04bn for 75 projects in the third month (mid-September to mid-October) of the current fiscal year alone.

The department also approved share purchase and share subscription approvals worth Rs 2.02bn for 18 projects, along with technology transfer approvals for 16 projects during the first quarter.

Nepal had received FDI commitments worth Rs 24.1bn for 127 projects in the first month (mid-July to mid-August) and Rs 8.98bn for 109 projects in the second month (mid-August to mid-September).

The 311 new FDI projects approved in the first quarter have pledged to create 1,660 jobs.

Of these, 300 are small-scale industries, seven are large industries, and four are medium-scale industries.

The ICT sector remained the most popular among foreign investors, with 162 projects receiving FDI commitments. Tourism followed with 103 projects, while Services (19), Manufacturing (15), Agro and Forestry-based (11), and Energy (1) accounted for the rest. No FDI commitments were recorded in the Mineral and Infrastructure sectors.

In terms of committed amounts, however, Tourism led with FDI pledges worth Rs 1.46bn, followed by Manufacturing (Rs 211m), Services (Rs 181m), ICT (Rs 153.73m), and Agro and Forestry-based (Rs 40m).

Nepal’s total FDI commitments for fiscal year 2024/25 stood at Rs 64.96bn for 840 projects, which had pledged to create 19,536 new jobs.

However, there remains a significant gap between commitments and actual inflows. According to the Nepal Rastra Bank, only 37.89 percent of total FDI commitments—amounting to Rs 395.92bn—have been realized so far.

The necessary steps for the development of the Humla Karnali Second Hydropower Project, which boasts a total capacity of 335 MW, have commenced in the economically lagging Humla district.

Currently, the Environmental Impact Assessment (EIA) is in progress. The Ministry of Forests and Environment has initiated the EIA based on recommendations from the Ministry of Energy, Water Resources, and Irrigation.

The Ruru Hydropower Project will oversee the construction. This project will be situated in the Kharpunath and Sarkegad Rural Municipalities of Humla.

Previously, the Ministry of Forests and Environment sought public input regarding the EIA through a public notice. A total of 47.13 hectares of land will be needed for the project's construction. According to the Environmental Protection Act, 2076 BS, hydropower projects exceeding 50 megawatts must undergo an Environmental Impact Assessment (EIA).

Consequently, the EIA work is being conducted, and the Ministry is currently undertaking the required studies. The project is a significant initiative within the Karnali River Basin. As it will be constructed on the Humla Karnali, a perennial glacier-fed river, its importance is underscored. The design discharge for the proposed project is set at 118.70 cubic meters per second. The project will also feature the construction of two diversion tunnels, measuring 545 meters and 542 meters in length, respectively.

The diversion tunnel will have a diameter of 9.5 meters. It is anticipated that the project will produce 609.89 gigawatt-hours of energy during the dry season and 1,184.83 gigawatt-hours during the rainy season. The electricity generated will be transmitted to the Mugu Karnali Hub via a 20-kilometer-long double-circuit 400 kV transmission line.

The country exported 1,015 megawatts of electricity on Monday, the day of Laxmi Puja of the Tihar festival. 

According to the Nepal Electricity Authority (NEA), the total demand for power reached 1,650 megawatts on Monday evening.

The NEA stated that the highest demand for power in the evening of Laxmi Puja was 1,602 megawatts last year. This year's demand was 48 megawatts more compared to last year. 

Currently, Nepal is exporting its surplus energy to the Indian and Bangladeshi markets.