KATHMANDU, OCT 20 -
With the much-awaited Contituent Assembly election getting closer, the Nepal Stock Exchange (Nepse) has been witnessing an upward swing gaining 4.81 points to close at 571.8 in single day trading last week. It is the first time that the capital market has crossed 570 points in the last four years.
Anjan Raj Paudel of Thrive Brokerage House said the performance of companies in the first quarter of this fiscal year has considerably shot investors’ hopes.
“Investors are expecting a good return on investment from the companies that performed well in the last fiscal when they declare the financial report in the first quarter,” Paudel said. “This has helped increase the demand for the shares thereby raising the Nepse index.”
Paudel also attributed the rising benchmark index to the growing electoral environment in the country which is expected to lead the country in the direction of political stability.
Out of the nine trading groups, five witnessed an inclination in their indices. Having logged in a rise of 10.39 points, Hydropower group was the largest gainer during the review period. Similarly, Insurance Companies, Commercial Banks, and Finance Companies were among the “other” gainers. Development Banks were the biggest losers last week, with the group’s index slipping by 0.52 points to close at 278.54. Manufacturing group’s index remained stable at 885.63 points.
Meanwhile, sensitive index that measures the transaction of the ‘A’ category companies witnessed a gain of 1.27 points to close at 137.2.
Among the individual companies, Nabil Bank topped the index in terms of transaction amount. The company saw a transaction worth Rs 6.80 million in the secondary market. Chilime Hydropower Company, Global IME Bank, Diprox Development Bank and Nepal Credit and Commerce Bank occupied the top five positions on the lists in terms of transaction worth. With a transaction of 10,811 units, Nepal Credit and Commerce Bank topped in terms of
share numbers.
The capital market traded 88,363 shares worth Rs 40.17 million last week. The market capitalisation increased to Rs 575.4 billion.
TOP FIVE COMPANIES IN TERMS OF TURNOVER
Company Turnover (in Rs millions)
Nabil Bank 6.80
Chilime Hydropower Co 4.42
Global IME Bank 3.64
Diprox Dev Bank 3.28
Nepal Credit & Com Bank 3.10
SECTORS THAT WENT UP
Sector Points Gained
Hydropower 10.39
Others 7.05
Insurance Companies 7.03
Commercial Banks 5.77
Finance Companies 0.96
SECTORS THAT WENT DOWN
Development Banks 0.52
Posted on: 2013-10-20 09:55
KATHMANDU, OCT 20 - With the next Constituent Assembly (CA) election round the corner, the three major political parties have shared ambitious goals of the economic development in their election manifestos.
While the UCPN (Maoist) has presented a development plan to make Nepal a developed country in four phases over the next 40 years, while the Nepali Congress (NC) and the CPN (UML) have announced plans for 5-10 years.
In its manifesto, the UCPN (Maoist) plans to convert the country to a middle-income country within the 20 years and a high-income country in the subsequent 20 years. For this, the Maoists have laid out plans to attain a sustained double-digit growth for 40 years.
The UCPN (Maoist) has targeted an economic growth of 7.9 percent in the first five years and increase it to 11 percent in 10 years, 12.4 percent in 20 years and 12.2 percent in 40 years.
“Such growth would be attained through intense development and commercialisation of agriculture, infrastructure, including energy, road, railway, ropeway and development of tourism and productive industries,” states the manifesto.
Also, the party claims it will be able to double the per capita income from the current $ 721 to $ 1,400 within five years. It aims to increase per capital income to $ 40,000 in 40 years.
On the other hand, the NC has talked about attaining economic growth of 8-10 percent and increasing the citizens’ per capital income to Rs 100,000 in the next five years.
“The contribution of the industrial sector to the gross domestic product (GDP) will be raised to 12 percent within five years, increasing the production and productivity,” reads the NC manifesto, which has not been made public yet.
The CPN (UML), on the other hand, has committed to lift the country from the current status of a least developed country to that of a developing country in five years increasing per capita income, social and physical development and development of human resource index. The national target, however, is to make the country a developing country within the next 10 years.
All three parties have announced ambitious targets in energy at a time when the country has been witnessing longer power-cuts for the last few years. They have also laid out lofty plans for employment creation.
The UCPN (Maoist) manifesto aims to end the current load-shedding problems within three years. The Maoists have set a target to produce 10,000 MW of power within the next 10 years which will ultimately be increased to 47,000 MW over 40 years.
The NC also aims to end load-shedding in the next three years. It aims to produce 5,000 MW of electricity within the next five years. Similarly, 100 MW of electricity would be generated each from solar and wind energy through the public-private partnership, the NC says in its manifesto which is yet to be made public.
Similar target for energy is also found in the UML manifesto. It aims to generate 5,000 MW of electricity in the next five years and 10,000 MW by the end of 10 years.
The UML has also stated that it will complete several ongoing hydropower projects like Upper Karnali, West Seti, Budhi Gandaki, Upper Marshyangdi, Lower
Arun, Tamakoshi III, Arun III and Upper Tamor within 10 years through proper coordination with the private sector.
The UCPN (Maoist) has planned to eliminate unemployment within the next 15 years, creating enough job opportunities within the country. The UML has also talked about creating 300,000 jobs annually to accommodate the country’s annual work force of 400,000.
All three parties have talked about incorporating the role of the state, private sector and cooperatives. Although the UCPN (Maoist) has been treating the cooperatives as separate stakeholder, it has accepted the sector as a part of private sector in the menifesto.
“The state’s role will basically be that of a regulator and facilitator while the cooperatives will play a complementary role as part of
private sector and the private sector will be the main driver of theeconomic development ,” states the Maoists’ document. On the other hand, the NC has talked about ensuring the rights of owning private properties. The party has also vowed not to hold any bandas, saying that it would come up with a law that holds those responsible for enforcing bandas and protests to compensate the loss and damage of private property. The UML has also vowed not to organise bandas. Both the UCPN Maoist and the UML have talked about adopting a socialism-oriented economic model.
All three parties have also taken ambitious targets for tourism. The Maoist party has talked about
bringing in 2 million tourists each year in the next 10 years, while the UML has set the same target, but in five years. The NC aims to attract
5 million tourists a year in 10 years.
Posted on: 2013-10-20 09:44
KATHMANDU, OCT 03 -
Tribhuvan Army Club and Biratnagar bagged wins in the Pepsi Standard Chartered Twenty20 National Cricket Tournament on Wednesday.
The Army made the light work of Kathmandu with a 10-wicket victory. The departmental team, who won the toss and put Kathmandu in first, bundled out their opposition for just 81 runs in 18.5 overs. Pawan Shrestha and Suraj KC, who scored 19 runs each, were the only ones to show some resistance in an otherwise sorry Kathmandu performance with the bat. Rahul Vishwakarma took 3 wickets for just 11 runs, while Lokendra Chand was as effective also scalping 3 wickets, giving away just 16 runs in his four overs.
In reply, openers Sagar Pun and Anil Mandal shared an unbeaten partnership of 84 runs as the Army raced to the target for no loss with 9.4 overs to spare. Pun made 37, while Mandal contributed 32 runs.
In the day’s other match, Biratnagar defeated Pokhara by 19 runs.
Put into bat, Biratnagar scored 131 for the loss of 6 wickets in their 20 overs. Sunny Pun topscored with 51, while Mehboob Alam smashed 22 of just 11 balls. Dipesh Khatri was the pick of the Pokhara bowlers, bagging 3 wickets for 18 runs, with Sushil Kandel lending able support taking 2 wickets giving away 21 runs.
Chasing 132 for victory, Dipesh Khatri’s quickfire 55 off 43 balls and Rijan Prajoo’s 35 runs went in vain as Pokhara were restricted to 112 for 6. Anup Karki, pushpa Thapa, Suresh Guragain, Manjeet Shrestha and Mehboob Alam all scalped a wicket apiece for Biratnagar.
The win put the Army on the Group A pole with 8 points, two above second placed Kathmandu. In Group B, Armed Police Force are currently on top with 9 points, with Birgunj only a point behind. Top two teams from each group qualify for the semi finals.
Posted on: 2013-10-03 08:54
Posted on: 2013-10-03 08:54
KATHMANDU, OCT 04 -
A blistering half century from Sharad Vesawkar powered Armed Police Force ( APF ) to an 83-run victory over Kathmandu on Thursday to set up a showdown with Tribhuvan Army Club in the Pepsi Standard Chartered T20 National Cricket tournament.
The Army marched into the final ahead of Birgunj on better run rate after their semi-final match was abandoned due to rain. The final will take place on Friday.
After being put into bat at the Tribhuvan University Ground, the APFput on a challenging total of 143 runs for the loss of four wickets from stipulated 13 overs after their innings was reduced by seven overs due to rain. Vesawkar topscored with 53 runs from just 21 balls with the help of 4 fours and 3 sixes, while Paras Khadka scored 35 off 22 balls. Som Pal Thapa scalped two wickets, giving away 24 runs in his three overs for Kathmandu.
In reply, Kathmandu struggled to keep up the pace with the APF and were restricted to 60 runs for four wickets in their 13 overs. Sujan Maharjan, Suraj KC and Bivatsu Thapa, who scored 11, 16 and 14 respectively, were the only batsmen to reach double figures for Kathmandu. Yagya Man Kumal, Bhuwan Karki and Shakti Gauchan bagged a wicket each to help the APF defend their total.
Earlier, the match between the Army and Birgunj was washed out by rain without a ball being bowled. And the Army, who came into the last four as Group A leaders with eight points, were adjudged winners of the match on superior net run rate, +1.604 against -0.185 of Birgunj.
Posted on: 2013-10-04 08:46 
BAMAKO, OCT 19 -
The death toll from last week's river boat sinking in Mali, one of the worst ever in the country, has jumped from 39 to 72, an official said Friday, after more bodies were discovered inside the wreck.
"There are now 72 dead, 11 lightly injured and 210 survivors," Security Minister General Sada Samake said, giving what he said was a definitive count.
A large dugout boat, carrying scores of people and a large amount of merchandise, broke up on the Niger river near Koubi, which lies around 70 kilometres (40 miles) north of the central city of Mopti.
"Rescue teams were able to refloat it. We found more bodies," the minister said at a press conference attended by several other government members.
Accidents involving rudimentary canoes are frequent but the disaster that took place overnight a week ago was the deadliest ever recorded in Mali, according to the authorities.
Such boats are the main means of transport for residents of Mali's central and northern regions travelling to the towns dotting the Niger, the main river in west Africa.
"In the future, these canoes will have to be equipped with life vests, fire extinguishers and lights for nighttime navigation," Planning Minister Abdoulaye Koumare said.
French troops in Mali to fend off Al-Qaeda-linked groups assisted the emergency response by dispatching medics.
Residents of the remote area complained however that most of the effort to find survivors in the hours following the accident was led by villagers because the authorities were slow to deploy and ill-equipped.
Posted on: 2013-10-19 10:15
DAMASCUS, OCT 19 -
A large explosion has shaken a suburb of Damascus with a majority Christian population, Syria's state-run news agency has reported.
Details are unclear but an opposition group said at least 16 soldiers were killed in a car bomb attack and fighting that followed.
The blast is said to have taken place in the pro-government area of Jaramana.
Earlier, the US urged the Syrian government to allow aid to reach starving civilians in Damascus .
Washington said the army's months-long siege left many people in rebel-held areas in desperate need of food, water and medicine.
Rebels have previously targeted Jaramana - a Christian and Druze area mostly loyal to President Bashar al-Assad, with bombings and mortar rounds.
In August a car bomb in Jaramana killed 18 people.
UK-based pro-opposition group the Syrian Observatory for Human Rights said a suicide attack by the jihadist al-Nusra Front, triggered heavy fighting at a key checkpoint between Jaramana and the rebel-held town of Mleha.
The report could not be confirmed.
Syria's embattled President Assad has drawn support from Syria's ethnic and religious minorities, including Christians and members of his Alawite sect, an offshoot of Shia Islam.
The rebel movement is dominated by Sunni Muslims, who are a majority in Syria.
Posted on: 2013-10-19 01:53
Posted on: 2013-10-19 01:53
SARLAHI, OCT 10 -
A leader’s influence in national politics, his seniority, or popularity apparently does not seem to stir the voters in Sarlahi district.
Four senior politicians have filed their nominations from different constituencies of Sarlahi for the upcoming Constituent Assembly polls, but the people could not care less. This indifference, according to local civil society leader Rajanikanta Jha, is the result of the past performance and contribution of these senior party leaders in local development.
“The people want to see real physical change in their hometowns. They want development projects and expansion of various services and facilities. You cannot expect that from senior politicians,” said Jha.
Mahanta Thakur of Tarai Madhes Loktantrik Party, Rajendra Mahato of Sadhbhawana Party, Mahendra Raya of Tarai Madhes Sadhbhawana Party and Jhala Nath Khanal of CPN-UML are the big guns contesting the CA election from Sarlahi this November. The past high-profile candidates to contest the polls from Sarlahi include the likes of former Prime Minister Surya Bahadur Thapa.
Bodhraj Kafle, who actively campaigned for Thapa’s victory from Sarlahi in the past, said one should stop hoping that the celebrity and political stature of election s candidates make difference and guarantee local development.
“If you only look at the condition of the roads here then you will see where Sarlahi stands in terms of development,” said Kafle.
The poor state of health, education, road and drinking water in Sarlahi represents the unfulfilled promises made by high profile election s candidates in the past.
The local political leaders, however, claimed that the senior leaders of their parties were fielded from Sarlahi to ensure development works. Try as they might, the voters remain unaffected, according to local residents.
Posted on: 2013-10-10 08:56
