Business
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Nepal Airlines revenue rises, but debt and costs keep recovery uncertain
Nepal Airlines Corporation (NAC) has recorded higher revenue in the last fiscal year, but preliminary figures show that the national flag carrier is still likely to post a deficit as debt, interest payments, maintenance costs and other operating expenses continue to weigh on its finances. Prime Minister Balendra Shah recently pointed to what he described as signs of recovery at Nepal Airlines. In a social media post, Shah said the carrier had generated Rs 6.27 billion in revenue in four months, achieved an 86 percent occupancy rate and repaid Rs 1.06 billion in loan instalments.
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Rs 250 purchase wins Kanchanpur consumer Rs 1 million tax incentive prize
A consumer in Kanchanpur has won the Inland Revenue Department’s (IRD) bumper prize of Rs 1 million after making a purchase worth just Rs 250. The purchase was made at Shiva Krishna General Store in Punarbas Municipality, Kanchanpur, and was selected as the winning transaction under the IRD’s Taxpayer Incentive Gift Plan for the first 15 days of Shrawan.
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Simara SEZ gains momentum as seven industries enter production
Seven industries operating inside the Special Economic Zone (SEZ) in Simara, Bara, have begun selling their products in the domestic market, while 11 more industries are nearing completion, signaling increased industrial activity at the zone. The Special Economic Zone Authority said investment in industries that are already operating or are close to completion has reached around Rs 5 billion. Ram Singh Mal, site in-charge of the Simara SEZ, said seven industries have already started commercial activities and are distributing their products. Both Nepali and foreign investors have participated in establishing the industries currently operating at the zone.
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NEPSE falls 7.37 points to 2,643.83 as turnover rises above Rs 4.27 billion
The Nepal Stock Exchange (NEPSE) index declined 7.37 points to close at 2,643.83 points on Friday, the final trading session of the week, even as daily turnover increased significantly from the previous session. The benchmark index had gained in each of the previous three trading sessions before Friday’s decline. On Thursday, NEPSE had advanced 8.81 points, following smaller gains on Wednesday and Tuesday. The Sensitive Index, which tracks large companies, increased 0.13 points to 464.73 points. The Float Index declined, while the Sensitive Float Index also fell during the session.
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Ncell condemns publication of share transaction report, warns of legal action
Ncell has strongly objected to the government’s decision to publish a report on the company’s share transactions, arguing that the move violates constitutional and statutory privacy protections and disregards a recent court order. The telecommunications company said the publication of the “Ncell’s Share Purchase-Sale Related Study and Investigation Report, 2023 (2080)” has exposed sensitive information that should have remained confidential. Ncell also said it reserves the right to pursue legal remedies under applicable national and international laws, treaties and agreements.
Markets
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NEPSE falls 7.37 points to 2,643.83 as turnover rises above Rs 4.27 billion
The Nepal Stock Exchange (NEPSE) index declined 7.37 points to close at 2,643.83 points on Friday, the final trading session of the week, even as daily turnover increased significantly from the previous session. The benchmark index had gained in each of the previous three trading sessions before Friday’s decline. On Thursday, NEPSE had advanced 8.81 points, following smaller gains on Wednesday and Tuesday. The Sensitive Index, which tracks large companies, increased 0.13 points to 464.73 points. The Float Index declined, while the Sensitive Float Index also fell during the session.
Economy
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Nepal Airlines revenue rises, but debt and costs keep recovery uncertain
Nepal Airlines Corporation (NAC) has recorded higher revenue in the last fiscal year, but preliminary figures show that the national flag carrier is still likely to post a deficit as debt, interest payments, maintenance costs and other operating expenses continue to weigh on its finances. Prime Minister Balendra Shah recently pointed to what he described as signs of recovery at Nepal Airlines. In a social media post, Shah said the carrier had generated Rs 6.27 billion in revenue in four months, achieved an 86 percent occupancy rate and repaid Rs 1.06 billion in loan instalments.
No Image Available
Simara SEZ gains momentum as seven industries enter production
Seven industries operating inside the Special Economic Zone (SEZ) in Simara, Bara, have begun selling their products in the domestic market, while 11 more industries are nearing completion, signaling increased industrial activity at the zone. The Special Economic Zone Authority said investment in industries that are already operating or are close to completion has reached around Rs 5 billion. Ram Singh Mal, site in-charge of the Simara SEZ, said seven industries have already started commercial activities and are distributing their products. Both Nepali and foreign investors have participated in establishing the industries currently operating at the zone.