After losing 27.79 last week, the benchmark, which represents the level of investors´ confidence in share market, dropped by 1.02 percent or 5.43 points to 528.89 points on Monday, the first day of this week´s trading. Sensitive index, an indicator of share prices of Category ´A´ companies, shed 1.26 points to close at 130.27 points.
During Monday´s trading, all trading groups saw their sub-indices decline. Banking, a heavyweight trading group in the secondary share market, lost 6.27 points to close at 495.92 points. Similarly, sub-indices of Development Bank, Hydropower and Finance groups went down by 9.28 points, 7.37 points and 4.08 points to 580.65 points, 797.22 points and 560.55 points respectively. Insurance and Others groups also lost 3.17 points and 3.53 points to end at 575.6 points and 592.16 points respectively.
A total of 81,055 units of shares and 55 scrips worth Rs 45.96 million changed hands on Monday´s trading through 988 transactions. Total market capitalization, total worth of listed shares, reached Rs 387.01 billion.
CNI for business-friendly environment
Raising serious concern over rising threat to business people, Confederation of Nepalese Industries (CNI) has demanded the government to create investment friendly environment in the country by strengthening law and order situation.
A CNI delegation led by President Binod Kumar Chaudhary put forth the demand during a meeting with Finance Minister Surendra Pandey on Monday. The team also asked Pandey to reconsider existing provisions in the budget that have been making negative impacts on ghee, mustard oil, sugar, refined flour and crusher industries, states a press release issued by CNI.
The delegation also demanded the Finance Minister to introduce multiple Value Added Tax (VAT) system from upcoming budget. It also expressed concern about the problems that business people in Birgunj and other Tarai towns are facing from underground criminal groups.
The CNI team also asked the government to do the needful in controlling bandas, strikes, extortions and threats from criminal groups and drew the government attention over the loss of revenue due to closure of Birgunj customs-the largest revenue collecting customs-for last four days.
Responding to the issues raised by CNI, Minister Pandey expressed commitment to create investment friendly environment in the country.
Dabur Nepal´s fun day out program
Dabur Nepal´s fun filled healthy entertainment event meant for the residents of various housing complexes in Kathmandu started from Saturday at Mount View Residency in Harrisiddhi, Lalitpur.
Dabur Nepal has been trying to make the event exciting this year with added activities, games and attractive prices this year, thanks to overwhelming response that the event received last year. The event will continue for next five Saturdays in various housing complexes within Kathmandu Valley.
According to the residents, the quality of the program is much better and entertaining this year as lot more prizes and exciting games have been added for kids.
Arpana Shrestha, one of the residents at Mount View Residency, commented that the program was wonderful and beneficial as it ensured a refreshing day for her and family. Abhaya Pd Gorkhalee, marketing manager of the company, said the program was an endeavor of the company to reach a step closer to its valued customers.
NIB, Samsara join hands for remittance
Nepal Investment Bank Limited (NIB) has now extended its remittance service in UK and USA through partnerships with Samsara Money Transfer and Transfast International respectively.
With this new development, NIB now provides money remittance services directly in more than seven countries through 20 remittance partners and the rest of the world through Western Union Money Transfer and Travelex Money Transfer. Meanwhile, the bank opened its 33rd branch in Damauli in Tanahun on Monday.
The branch in Damauli will be linked through ABBS (Any Branch Banking Services) to all other 32 branches of the bank, it said in a statement. The bank plans to open 50 more branches to provide exceptional banking services to all major areas of the country.
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