Nepse plunges by 74. 73 points on Wednesday
The Nepal Stock Exchange (NEPSE) plunged by 74. 73 points to close at 2, 776. 36 points on Wednesday.
Similarly, the sensitive index dropped by 11. 21 points to close at 473. 63 points.
A total of 30,292,452-unit shares of 347 companies were traded for Rs 1. 59 billion.
Meanwhile, Reliance Spinning Mills Limited (RSML) and Super Khudi Hydropower Limited (SKHL) were the top gainers today with their price surging by 10. 00 percent.
Likewise, Nepal Reinsurance Company Limited (NRIC) was the top loser as their price fell by 9. 84 percent.
At the end of the day, the total market capitalization stood at Rs 4. 72 trillion.
Workers halt work at Arun III Hydropower Project over delayed pay for six months
Workers at the under- construction Arun III Hydropower Project powerhouse have launched a strike over delayed payments for several months.
It is said 1,500 workers for the 900-MW Project have reportedly not been paid for the past six months.
The workers and petty contractors at Pukhuwa of Chichila Rural Municipality-2 where the powerhouse is based, have been on strike since this morning.
As a result, the entire works on the Project have been affected.
Workers have complained that the construction company ignored their repeated concerns regarding timely payment.
Chief District Officer Sirjana Thapaliya also confirmed the launch of the strike by workers.
Earlier, the workers had approached the District Administration Office with an application, requesting its facilitation in ensuring timely pay.
The project is being developed by the Indian Satluj Company.
Over 3,000 workers from Nepal and India have been employed at the dam site in Phyksida, Makalu Rural Municipality, and at the powerhouse construction site in Pukhuwa.
The project, which has a five-year deadline, is estimated to cost Rs 120 billion.
Under the agreement, the project will provide 30 units of electricity free of cost to each affected family.
Nepal is expected to receive Rs 340 billion in royalties over 25 years, along with free electricity and discounts on income tax, VAT, and customs duties, it is said.
US journalist Shelly Kittleson kidnapped in Baghdad
A US freelance journalist has been kidnapped in the Iraqi capital Baghdad, and one of the suspects is linked to an Iran-backed militia, Iraqi and US officials say, BBC reported.
Shelly Kittleson was abducted on Tuesday evening, said Al-Monitor, a news outlet for which she has contributed articles.
The Iraqi interior ministry said security forces had chased the reporter's abductors in a pursuit that resulted in one of the kidnappers' cars overturning and the arrest of one suspect, according to BBC.
EU lawmakers press China on unsafe products on rare Beijing visit
EU lawmakers this week pressed China over a surge of dangerous products into the bloc and insufficient access to the Chinese market as they kicked off the first European parliamentary visit to the world's No.2 economy in eight years, Reuters reported.
The visit, which began on Tuesday, comes just days after the EU agreed to overhaul its customs system, including a crackdown on mainly Chinese e-commerce platforms that face potential fines if ?they sell illegal or unsafe products into the bloc.
The EU currently does not apply customs duty on parcels valued at less than 150 euros ($173.42), an exemption that has fuelled the rapid growth of platforms such as Shein, Temu and AliExpress, which ship consumer packages directly from China, according to Reuters.
