Category: Finance

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

One and a half billion savings from Motihari-Amalekhgunj Petroleum Pipeline

Kathmandu: Nepal Oil Corporation (NOC) has saved Rs 1.5 billion from the Motihari-Amalekhgunj Petroleum Pipeline, which has been in operation since last year. According to the annual financial report of the last fiscal year 2019/2020 made public by the corporation, Rs. 1.47 billion has been saved for transportation in the 10 months from August 2019… Continue reading One and a half billion savings from Motihari-Amalekhgunj Petroleum Pipeline

Aviation industry lost Rs 17 bn due to covid-19 pandemic

Kathmandu: Nepal’s aviation industry has lost more than Rs 17 billion in revenue due to the covid-19 pandemic. According to the data made public by the Civil Aviation Authority of Nepal (CAAN), the biggest impact of the Covid 19 has been on the national flag carrier Nepal Airlines. The Nepal Airlines Corporation has lost about… Continue reading Aviation industry lost Rs 17 bn due to covid-19 pandemic

U.S. gasoline prices reach 9-month high as refiners cut more output

FILE PHOTO: A Chevron gas station is seen in Cardiff, California January 25, 2016. Photo Courtesy: Reuters

NEW YORK (Reuters): U.S. gasoline prices hit a nine-month peak as drivers took to the roads on holiday travel, crude oil prices kept climbing and refiners further cut fuel production due to weak margins. Prices at the pump topped $2.25 a gallon this week, according to the American Automobile Association, the highest since March when… Continue reading U.S. gasoline prices reach 9-month high as refiners cut more output