Stories By 'Rajesh Khanal'
Nepal Reinsurance Company is to make a Rs1.6 billion initial public offering after the government agreed to inject additional capital.
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The government has transferred more than Rs5 billion to new budgetary headings as it scrambles to speed up spending at the tail end of the fiscal year. Expenditure usually gets bunched up during the period mid-May to mid-June as the government scrambles to use up unspent funds with the fiscal year drawing to a close.
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Gasoline could start flowing through the newly-built cross-border pipeline next month. Nepal’s first oil pipeline is likely to become operational as soon as next month since the pipelaying work has been completed.
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Nepal Stock Exchange shrank 5.27 points to close at 1,264.36 points last week, as investors remained in a wait-and-watch mode, expecting the market to surge with the beginning of the new fiscal year which begins from July 17.
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In a bid to curb the flow of black money into the stock market, the Securities Board of Nepal has told stakeholders to abide strictly by the new anti-money laundering measures. The board issued the notice on Friday.
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The government has not formulated effective policy to prevent insider trading which is eroding public confidence and impeding the growth of the country’s capital market, stock analysts said on Tuesday.
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