Monetary policy cautiously flexible: NRB
The central bank has continued a cautious flexibility of the monetary policy through its first quarterly review of the current fiscal year.
Nepal Rastra Bank made public the first quarterly review (monetary) of the fiscal year, 2082/83. It has brought flexible provisions in the monetary scheme.
The review stated that policy initiatives the government took for an industrial atmosphere with good governance in the wake of Gen Z protest and the monetary facilitation the NRB made are expected to ensure gradual improvement in the national economy.
Nepal got BB minus in the Sovereign Credit Rating (by Fitch Rating) this year as well.
Although the hotels were damaged during the September 8-9 protests, the government recovered the peace and security situation, thereby assuring the tourism and arrival of tourists, the monetary policy review stated.
The hydropower production has seen continuous strides in the past three months. Total 309 MW electricity was linked to the national transmission line in the last three months alone.
The banks and financial institutions have excessive liquidity and low interest rates.
NC to hold general convention on Jan 10-12
A Central Working Committee meeting of the Nepali Congress has decided to hold a regular general convention in the second week of January.
The meeting held at the party office in Sanepa on Monday decided to hold the 15th general convention on January 10-12 in Kathmandu, party spokesperson Prakash Sharan Mahat informed.
Similarly, the meeting has set the deadline for distributing new active members until December 6.
The meeting has decided that the forms should be distributed to the wards by December 10 and the work of new active members should be completed by December 23, spokesperson Mahat said.
It has been decided to call for the complaints and the final list including the new ones will be submitted to the President on December 29 after investigating the complaints.
The new active memberships will be distributed to new generations, leaders and cadres of other parties.
The convention of the liaison committees will be held by December 30, the village/town convention by December 31, and the provincial regional convention by January 3.
Regional conventions and the convention of districts with a single constituency will be held by January 5.
The district conventions of districts with more than one constituency are to take place by January 6, and the provincial conventions on January 7–8.
Similarly, as per the Central Committee decision, the term of the Central Committee, which is set to end on December 9, will be extended until mid-February, 2026.
Nepse plunges by 4. 28 points on Monday
The Nepal Stock Exchange (NEPSE) plunged by 4. 28 points to close at 2, 645. 24 points on Monday.
Similarly, the sensitive index dropped by 1. 72 points to close at 455. 26 points.
A total of 10,860,828-unit shares of 325 companies were traded for Rs 4. 71 billion.
Meanwhile, Sagar Distillery Limited (SAGAR) and Swastik Laghubitta Bittiya Sanstha Limited (SWASTIK) were the top gainers today with their price surging by 10. 00 percent.
Likewise, Nifra Green Energy Debenture 6% - 2088/89 (NIFRAGED) was the top loser as its price fell by 9. 51 percent.
At the end of the day, the total market capitalization stood at Rs 1. 50 trillion.
Singapore executes three men for drug offences over two days
Singapore hanged three people for drug offences last week, bringing the total number of executions to 17 this year - the highest since 2003, BBC reported.
These come a week before a constitutional challenge against the death penalty for drug offences is due to be heard.
Singapore has some of the world's harshest anti-drug laws, which it says are a necessary deterrent to drug crime, a major issue elsewhere in South East Asia, according to BBC.
