Wall Street’s momentum swings back as stocks, yields tick up

In this photo provided by the New York Stock Exchange, the logo for Stellantis appears above a post on the trading floor, Tuesday, Jan. 19. 2021. Shares start trading in New York in the new auto giant created by the merger of Fiat Chrysler and PSA Peugeot. (Colin Ziemer/New York Stock Exchange via AP)

NEW YORK (AP): Stocks are ticking higher on Wall Street Tuesday, recovering some of last week’s losses to pull closer to their record highs. The S&P 500 was up 0.5 percent in morning trading and back within 1 percent of its record set earlier this month. The Dow Jones Industrial Average was up 128 points,… Continue reading Wall Street’s momentum swings back as stocks, yields tick up

China economy grows in 2020 as rebound from virus gains

Shoppers wearing face masks to help curb the spread of the coronavirus wall by the Chinese toy maker POP Mart display booth at a shopping mall in Beijing on Dec. 9, 2020. China's economy grew 2.3 percent in 2020 as a recovery from the coronavirus pandemic accelerated while the United States, Europe and Japan struggled with disease flare-ups. Photo Courtesy: AP

BEIJING (AP): China eked out 2.3 percent economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections. Growth in the three months ending in December rose to 6.5… Continue reading China economy grows in 2020 as rebound from virus gains

NIFRA receives IPO application worth Rs 14 billion in three days

Kathmandu: Investors have been attracted to the IPO of Nepal Infrastructure Development Bank, which has started selling IPOs to the public since last Friday. Within three days of the eviction, more than Rs 14 billion worth of IPO applications have been demanded. So far, an IPO demand of Rs 14.19 billion has been received. The… Continue reading NIFRA receives IPO application worth Rs 14 billion in three days

Corona insured amount to exceed Rs 5 billion, only half paid so far

Kathmandu: The claim payment to Corona insurers has exceeded Rs 5 billion. According to the Insurance Committee, a total of 51,717 claims have been verified. The total amount to be paid to those applicants is more than Rs 5 billion. Out of which, Rs 2.46 billion has been paid to 25,313 people so far. Another… Continue reading Corona insured amount to exceed Rs 5 billion, only half paid so far

Nepse crossed 2300 points, an increase of 28 points on Sunday

Kathmandu: The stock market has crossed 2300 points. On Sunday, the NEPSE index rose by 28.46 points to 2315 points. This is the highest point ever. Shares of all groups except hydropower rose on Sunday. Shares of trade group rose by 232 points, development bank group by 110 points, manufacturing group by 49 points, micro… Continue reading Nepse crossed 2300 points, an increase of 28 points on Sunday

US industrial production jumps 1.6 pc in December

FILE - In this May 13, 2020, file photo, Ford Motor Co., line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. U.S. industrial production increased 0.4% in November with manufacturing receiving a boost from a rebound in output at auto plants after three months of declines. The Federal Reserve reported Tuesday, Dec. 15 that the November gain in industrial output followed an even stronger 0.9% increase in October. Photo Courtesy: AP

SILVER SPRING, Md. (AP): U.S. industrial production rose 1.6 percent in December, a third straight monthly gain, but remains below its pre-pandemic level. The December gain in industrial output followed a 0.5 percent increase in November and a one percent increase in October, the Federal Reserve reported Friday. Even with those gains, industrial output is… Continue reading US industrial production jumps 1.6 pc in December

Only 14.4 percent development expenditure in six months

Kathmandu: In the six-month period from July to December, the government has spent only 14.4 percent on capital. The target for capital expenditure in the current Fiscal Year is Rs. 352.91 billion. However, capital expenditure alone stood at Rs. 50.81 billion by mid-December(Wednesday). This is Rs 13 billion less than the same period last year.… Continue reading Only 14.4 percent development expenditure in six months

Stakeholders ask to withdraw FDI in agro sector

Kathmandu: Stakeholders related to agriculture sector have said that the government’s decision to attract foreign direct investment in Nepal’s agricultural sector is wrong. The Dairy Industry Association, Nepal Dairy Association among other orgnizations held a joint press conference in Kathmandu on Tuesday and said that the government’s decision to bring foreign investment in agriculture sector… Continue reading Stakeholders ask to withdraw FDI in agro sector

PM Employment Program: Nearly Rs. 3.45 billion grant to 688 municipalities

Kathmandu: A grant of Rs 3.45 billion has been allocated for the Prime Minister’s Employment Program this year. According to the decision of the Council of Ministers of the Government of Nepal on January 15, conditional grant of Rs. 3.44 billion has been provided to 688 municipalities across the country for the fiscal year 2020/2021,… Continue reading PM Employment Program: Nearly Rs. 3.45 billion grant to 688 municipalities

U.S. stocks in 2020: A year for the history books, in charts

FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Photo Courtesy: Reuters

NEW YORK (Reuters): The year 2020 was a wild one for Wall Street, bookended by the end of the longest bull market in history with the battering of equities by the COVID-19 shutdowns, and a bungee-cord rebound on hopes for economic recovery that resulted in the shortest bear market on record. After closing at a… Continue reading U.S. stocks in 2020: A year for the history books, in charts