KATHMANDU: Welcome to Nepal News’ Evening Economic Brief—your go-to source on key financial updates in Nepal. Stay informed with concise insights on market trends, economic indicators, and policy shifts. Here are today’s top highlights:

Chudamani Chapagain appointed as the CEO of NEPSE: Chudamani Chapagain, who has been appointed as the Chief Executive Officer (CEO) of the Nepal Stock Exchange (NEPSE), has received his appointment letter. The Cabinet’s meeting on Monday appointed him as the NEPSE CEO. Following the appointment, on Tuesday, he was handed the appointment letter by Revenue Secretary Dinesh Kumar Ghimire at the Ministry of Finance.

Chapagain, originally from Jhapa, has extensive experience working with Sanima Bank and Sanima Reliance Life Insurance. Although Narad Kumar Luitel was initially appointed as the CEO of NEPSE, the decision was not certified by the Chief Secretary. Luitel, who is also a tourism entrepreneur, faced criticism when his name was recommended, leading the Cabinet to appoint a different candidate.

Two Indian Airlines to Start Regular Flights to Nepal: Two Indian airlines, SpiceJet and Air India Express, are set to operate regular flights to Nepal. After a six-year hiatus, SpiceJet is making a comeback, while Air India Express will fly to Nepal for the first time. Both airlines have received approval for their flight schedules and slots at Tribhuvan International Airport, as confirmed by the airport’s General Manager, Jagannath Niroula.

According to Niroula, SpiceJet will operate flights seven days a week, while Air India Express has been approved for two flights per day. Both airlines will operate flights arriving at Kathmandu Airport in the afternoon. SpiceJet, known for its low-cost fares in India, had been flying regularly to Nepal before the pandemic. The airline will now operate flights from Delhi to Kathmandu.

With the addition of these two airlines starting this summer season, travel and flight services between India and Nepal will become more convenient. Currently, Air India operates seven flights a day from India, and Indigo Airlines operates three daily flights. With the new airlines joining, there will now be four regular flight services from India to Nepal.

Call for making Birgunj as economic capital: Chair of Aam Janata Party, Prabhu Shah, has pressed the idea of developing Birgunj, the industrial and trade town, into an economic capital. The town sees sufficient economic activities, suggesting potential to be developed into the economic capital of the country, according to the leader. Speaking at a press meet organised by the party here today, the House of Representatives (HoR) lawmaker echoed the need of cooperation between the government and private sector, for the country’s economic development.” The sizes of country’s internal and external loans are snowballing,” he said, underling the need of adopting a policy to promote domestic industries and factories.

Nepal Rastra Bank Highlights Need for Three-Tier Security in Financial Transactions: Nepal Rastra Bank has stated that the risk of misuse of technology in financial transactions has increased, and three levels of security are necessary to mitigate these risks. While modern digital technologies have made financial services more accessible, the central bank emphasized the growing risks associated with the misuse of technology. As such, robust security measures are critical.

To prevent the misuse of technology, Nepal Rastra Bank has outlined the need for a three-tier security system. Nepal Rastra Bank has urged financial institutions and individuals to use secure authentication methods for financial transactions and to keep personal information confidential.

Tribhuvan International Airport Reopens for 18-Hour Daily Operations Starting Tuesday: Tribhuvan International Airport has resumed daily operations for 18 hours starting from Tuesday. In order to enhance the airport’s capacity, physical infrastructure work was carried out by closing the airport for 10 hours daily from the 23rd of Kartik to the 18th of Chaitra, for a span of five months. On Tuesday, the airport began operating from 6:00 AM to 12:00 AM, as confirmed by the airport’s General Manager, Jagannath Niroula.

According to him, the construction of the taxiway connecting to the runway has been completed. The construction of the parallel taxiway is still ongoing. The Airport Capacity Enhancement Project, under the Civil Aviation Authority of Nepal, is working on expanding the southwest parallel taxiway, the international apron to the north, and the hangar apron on the east side of the airport.

NEPSE Index Declines on Tuesday: On Tuesday, the NEPSE index dropped by double digits, falling by 15.57 points to close at 2,677.55. There was also a decrease in trading volume on this day. On Sunday, the total share turnover was NPR 7.56 billion, whereas on Tuesday, it reduced to NPR 5.79 billion. This reflects a decline of NPR 1.77 billion compared to the previous day.

On Tuesday, 320 securities saw a total of 10,670,649 shares being bought and sold. Out of the 42 companies, share prices of 42 companies increased, while 201 companies experienced a decline in share prices. On this day, the price of Guardian Micro Life Insurance saw the highest increase, rising by 10%.

Dordi Khola Hydropower Company Starts Rights Issue of Shares from Tuesday: Dordi Khola Hydropower has started the rights issue of its shares from today (Tuesday). The company is issuing 100% rights shares based on its existing paid-up capital. The company is issuing one new share for every existing share, at a ratio of 1:1.

Accordingly, the company is issuing a total of 1,054,260,400 Nepali Rupees worth of shares, with a par value of NPR 100 per share, totaling 1,054,260,604 shares. For this rights issue, the company closed the book on 15th Falgun. Based on the book closure, shareholders who hold shares as of 13th Falgun can apply for the rights issue. Applications for the rights issue will be accepted until 8th Baishakh, 2082. The company’s share issuance and sales manager is Sanima Capital Limited.

Indian Company Pristine Mega Logistic Park Wins Bid to Manage Birgunj Dry Port: The management and operation of the Birgunj Dry Port (Inland Clearance Depot) has been entrusted to the Indian company, Pristine Mega Logistic Park Pvt. Ltd. Ashish Gajurel, the Executive Director of the Nepal Intermodal Transport Development Committee, informed that Pristine Mega Logistic Park Pvt. Ltd. has been selected for the management and operation of the dry port for the next five years at a cost of NPR 4.71 billion.

According to the committee, Pristine Mega Logistic Park Pvt. Ltd. and Container Corporation of India Limited were shortlisted in the technical evaluation of the tender called for the management and operation of the dry port. Container Corporation of India Ltd. had submitted a bid worth NPR 4.51 billion. After finalizing the contract with the selected company, Pristine Mega Logistic Park Pvt. Ltd. will manage and operate the dry port for the next five years starting from Shrawan, 2082. Previously, the same company had received the contract to manage and operate the dry port for five years at a cost of NPR 3.33 billion.

Climbers Begin Arriving at Annapurna Base Camp for Expedition: Climbers have started arriving at the base camp of Annapurna Mountain in the Annapurna Rural Municipality-4, Narcheyang, located in the Myagdi district. Annapurna, which stands at 8,091 meters, is one of the highest peaks in the world, and the climbing season has officially begun this spring. The base camp is bustling with climbers, sherpas, guides, laborers, and tourists. According to Shyam Purja, a ward member of Annapurna Rural Municipality-4, expedition teams have set up tents at the base camp, creating a village-like atmosphere. He added, “Along with the climbing teams, both domestic and foreign tourists have also started arriving.” Situated at an altitude of 4,100 meters above sea level, the base camp is seeing a significant influx of climbers and tourists.

According to the latest statistics released by the Department of Tourism on Tuesday, 30 men and 12 women from five different groups have been granted permits to attempt the Annapurna climb this spring season.

Governor Appointment Delayed as PM Oli Departs for Thailand: The appointment of Nepal Rastra Bank’s 18th governor has been delayed following Prime Minister KP Sharma Oli’s departure to Thailand for the BIMSTEC summit. The selection process, initially expected on Monday, was halted as Oli insisted on finalizing it after his return. The recommendation committee, led by Finance Minister Bishnu Prasad Paudel, will propose three candidates per legal requirements. Outgoing Governor Maha Prasad’s term ends in this week, increasing urgency for a swift appointment.

Motor and Property Insurance Grow; Non-Life Insurance Up by 8.9%: Motor insurance, the largest segment in Nepal’s non-life insurance sector, grew by 5.16% in eight months, generating Rs 8.60 billion in premiums.

However, policy sales dropped by 9.01%. Property insurance saw an 11.33% rise, collecting Rs 7.16 billion. The overall non-life insurance industry expanded by 8.9%, reaching Rs 28.60 billion in premiums. Government mandates and increasing vehicle sales continue to drive insurance growth, with motor and property insurance contributing 55.11% of total business.

Cement, Iron Rod Prices Drop as Power Supply Improves: Industries have reduced cement and iron rod prices following improved power supply in industrial areas. Cement prices have dropped by up to Rs 15 per bag, while iron rods are now Rs 2 cheaper per kg. Manufacturers attribute the decrease to reduced power cuts, as India resumed electricity exports for four extra hours at night. The government had warned of action against price inflation, suspecting artificial shortages. Contractors argue that past price hikes delayed projects and increased construction costs.

Citizen Investment Trust and PU Sign Pension Fund Agreement: Citizen Investment Trust (Nagarik Lagani Kosh) and Purwanchal University have signed an agreement to operate a contribution-based pension and gratuity fund. The deal was signed by PU Vice-Chancellor Prof. Bijukumar Thapaliya and CIT representative Parbatkumar Karki. Thapaliya expressed happiness over the initiative, while Karki pledged efficient management and fair returns for participants.

Gold Price Reaches All Time High: The price of gold has been continuously rising in recent times. According to the Nepal Gold and Silver Dealers’ Association, gold prices reached a record high on Tuesday. As per the association, the price of gold increased by NPR 1,800 compared to the previous day, reaching NPR 179,700 per tola on Tuesday. The previous day’s price of fine gold was NPR 177,900 per tola. Similarly, the price of silver has remained stable. Silver, which was priced at NPR 2,035 per tola on Monday, remained the same on Tuesday.

Nepal Requests 230 MW of Electricity from India During Dry Season: With the onset of the dry season, Nepal has formally requested 230 MW of electricity from India due to the growing power shortage in the industrial sector. The Ministry of Energy has sent an official letter to India to make the request, according to a source close to the ministry. At the request of the Ministry of Energy, Water Resources, and Irrigation, the Ministry of Foreign Affairs sent a proposal to the Indian Embassy.

In this context, a bilateral electricity purchase and sale agreement has already been made between the Nepal Electricity Authority (NEA) and the NTPC Vidyut Vyapar Nigam (NVVN). The Ministry of Energy, Water Resources, and Irrigation has been actively involved in diplomatic efforts to address the situation. This initiative was part of the recent visit of Foreign Minister Dr. Arzu Rana Deuba to India. Nepal is also working to get approval from the Indian government for the implementation of the 3,500 MW bilateral agreement between the Nepal Electricity Authority and NNVN.

In addition, the Indian government has granted permission for Nepal to purchase electricity from the Indian Energy Exchange during solar hours (from 6 a.m. to 6 p.m.). Nepal has also requested to expand this arrangement to allow 24-hour electricity imports from the exchange.

Airlines Reluctant to Operate Flights from Gautam Buddha International Airport: Airlines have shown reluctance to operate flights from Gautam Buddha International Airport in Lumbini, Bhairahawa. Airlines such as Jazeera Airways, Fly Dubai, and Thai AirAsia, which had been operating under the winter schedule, have decided to stop flights to Bhairahawa for the summer season starting from April 1. With the suspension of flights, the airport has once again seen a significant drop in activity.

However, the national flag carrier, Nepal Airlines, has continued to operate according to its flight schedule. Previously, Jazeera Airways was operating three weekly flights on the Kuwait-Bhairahawa-Kuwait route, while Thai AirAsia was operating one direct flight weekly on the Bangkok-Bhairahawa-Bangkok route. Fly Dubai had been operating one daily flight on the Dubai-Bhairahawa-Kathmandu-Dubai route.

Although Jazeera Airways had the highest occupancy, it too has shown no interest in continuing flights from Bhairahawa. On average, Fly Dubai saw around 70 passengers arriving in Bhairahawa, while 20 to 30 passengers flew from Bhairahawa to Dubai. Qatar Airways, which had operated flights for two weeks in December, also suspended its operations. As a result, the suspension of flights from these international carriers has led to a complete cessation of international flights from the airport for the summer season.

Nepal Chamber of Commerce Officials Join Prime Minister KP Sharma Oli for BIMSTEC Summit in Thailand: A delegation from the Nepal Chamber of Commerce, led by President Kamlesh Kumar Agrawal, along with other officials, has traveled to Thailand to attend the 6th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit. The delegation is accompanying Prime Minister KP Sharma Oli. Representing the private sector, the team includes Chamber Advisory Council Chairperson Rajesh Kaji Shrestha, Senior Vice President Deepak Malhotra, Honorary Vice President and Chairperson of the International Relations Committee Arjun Prasad Sharma, among others. During the visit, the Chamber aims to discuss and finalize agreements related to facilitating bilateral trade, promoting tourism, and increasing investment. The Chamber also stated that it is preparing to sign separate agreements with the Tourism Council of Thailand focusing on trade, tourism, and civil aviation sectors.

Additionally, the delegation will engage in meetings and discussions with prominent Thai business leaders, aiming to enhance bilateral trade facilitation and investment promotion in Nepal. Chamber President Agrawal mentioned that discussions would revolve around improving bilateral trade and increasing investment in Nepal.

Industrial Sector Delighted with Regular Power Supply from Nepal Electricity Authority: The Nepal Electricity Authority (NEA) has begun providing regular electricity supply to the industrial sector, much to the delight of industrialists. The Federation of Nepal Export Association has expressed its happiness, noting that the regular electricity supply to industrial areas marks a positive development. The Association has thanked the NEA, the Ministry of Energy, and the government for their efforts in reducing load shedding by importing the necessary amount of electricity from India.

According to Hitendra Dev Shakya, the Executive Director of the NEA, this initiative has significantly addressed the severe issue of load shedding in the industrial sector. The Federation issued a press release acknowledging that the load shedding in the past had directly impacted production industries. The reduction of load shedding is seen as a crucial step in improving the industrial environment in Nepal.

Bhatbhateni Superstore to Honor Over 50 Employees at Koteswor Branch: Bhatbhateni Superstore has decided to honor more than 50 employees working at its Koteswor branch.This comes after an incident on 15th Chaitra where a group of around 150 people caused violence during a program organized by the royalists. The group looted the Koteswor Bhatbhateni store, resulting in substantial damage.

In recognition of the bravery shown by the store’s security personnel and employees who actively engaged in protecting the store and later worked overnight to repair and clean the premises, the company will hold a ceremony to honor them. “The employees who provided security on the frontlines during the incident and worked tirelessly on repairs and cleanliness afterward will be honored. We believe this will boost their morale and enthusiasm,” said Panu Paudel, COO of Bhatbhateni Superstore. The management has estimated the loss from the vandalism and looting at Koteswor Bhatbhateni to be around NPR 80,33,000. The looters took mobile phones, watches, expensive liquor, clothing, fruits, and vegetables, and also caused damage to physical structures and vehicles in the premises.