Share market sees upsurge ahead of budget

BY A STAFF REPORTER

Kathmandu, May 27: Despite pre-budget fever, that seems to have wrapped the country's micro-economy, the general trend of the share market in Kathmandu has remained normal.

On the basis of the transaction volume, the situation of the capital market this weekend has witnessed a fair upsurge.

Throughout the weekend, Bank of Kathmandu hit the NEPSE's trading floor with the sale of 9620 shares equivalent to Rs.8407930/- But, in terms of the volume of share, Alliance Insurance Co. is ahead of other companies registered in the NEPSE for transaction.

A total of 87,120 shares amounting to Rs 25,228,879/- was traded, whereas the number of shares traded on the NEPSE's trading floor in the previous week was 47695 equivalent to Rs. 19,467,612/-.

It is to be noted that the number of transactions this weekend was 608 which is greater than the transaction of the previous week.

On the basis of transaction, commercial banks like in the past, are far ahead of companies in other sectors like-manufacturing & processing, hotel, insurance, finance and trading.

This week, commercial banks occupied 71.92 per cent in the total transaction, whereas manufacturing sector obtained 0.76, hotel sector - 1.82 per cent. Insurance sector stands in the second position by obtaining 14.07 per cent. The percentage of finance sector in the total transaction is 11.41.

In groupwise transaction, a total of 20,549 shares of commercial banks were traded. The amount of shares was Rs.18,049,895/- whereas this figure was Rs. 16331227/- in the previous week. In manufacturing & processing sector a total of 2500 shares amounting to Rs 191834 was traded throughout the week. The number of shares traded in previous week was 1650. A total of 5,339 shares of the insurance sector were traded this weekend. The amount was equivalent to Rs.3,530,730/ - Similarly, 2,986 shares amounting Rs 455,540/- of hotel sector were traded. On the basis of transaction finance sector came after insurance both in terms of volume of shares and the amount being traded. Transaction of trading sector is insignificant.

Everest Bank Ltd., Alliance Insurance Company and Bank of Kathmandu dominated the trading floor throughout the weekend. NEPSE's trading floor remained opened all the five days (May 22-26). Nepal Arab Bank (Rs1300 -1270), Nepal Grindlays Bank (Rs. 1955), Nepal SBI Bank (Rs 1071-1101), Nepal Bangladesh Bank (Rs1390-1365), Everest Bank (Rs 830-851), Bank of Kathmandu (Rs 885-873), Everest Insurance Co. (Rs. 460-425) had recorded round-the-week transaction. Nepal Bank Ltd.- country's oldest bank (Rs 285-326), Himalaya Insurance Co. (Rs 265) and Kathmandu Finance (Rs 230-241) and Universal Finance (Rs 155) recorded the transactions on four days. Nepal Liver Ltd. Nepal Lube Oil, Necon Air Ltd. and Citizen Investment Fund had recorded the transaction of only one day in the weekend.

Out of 53 companies registered, transaction of 41 of them took place in the NEPSE's trading floor.

Information on NEPSE weekly transaction are available also on the web page (http:// www. nepal. stock .com), according to its weekly bulletin.

Meet on tomato marketing held

Itahari, May 27 (RSS): A business interaction was organised in Dharan here recently with the objective of formulating an extensive programme for the production, market management and export of the "hybrid abinas-2" tomato variety which is a ready cash crop.

The interaction programme was organised under the joint auspices of the Agricultural Enterprises Centre (AEC) East Regional Contact Office and the Dharan Chamber of Commerce and Industry.

On the occasion extensive discussions were held on marketing of tomato, production, nature of business relations between the producers and the retailers and the need for constant coordination among all these aspects.

It was pointed out that the hybrid abinas-2 tomato could be exported to India and Bangladesh by improving its quality. Moreover, there is a good prospect of improving the socio-economic condition of the farmers by commercial cultivation of the vegetable.

Presenting a working paper at the programme, horticulturist Shambhu Ram Katuwal said the cost of production is less than the profit from the commercial cultivation of this variety of tomato.

He said since this variety of tomato ripens faster than other varieties, it was gaining popularity among the farmers.

The country could be made self-sufficient if investors and interested farmers of the different VDCs could be roped in to start commercial cultivation and joint investment was increased in the promotional activities, he said.

Similarly, the need for crop extension was also pointed out on the occasion.

Sixty-five tomato farmers and retailers from Ilam, Dhankuta, Jhapa, Morang, Sunsari, Makwanpur and Dhading, the districts better known as the main tomato-growing districts of the kingdom, took part in the interaction.

President of Dharan Chamber of Commerce and Industries Bijaya Danga presided over the programme.

NRB governor urges banks to invest in hydel, industry

Nepalgunj, May 27 (RSS): Nepal Rastra Bank governor Dr Tilak Rawal inaugurated Nepal Bangladesh Bank's Nepalgunj branch office here Friday.

Speaking on the occasion, Dr Rawal said financial institutions and banks in the country should work towards economic development by investing in hydel projects, industry and trade.

He also expressed confidence that the newly established bank branch would help develop industry and trade in the region.

Chairman of Nepal Bangladesh Bank Board of Directors Ram Lal Shrestha said the new branch has been established as per the bank's target of providing bank services using modern technology in all the five development regions of the country.

Nepalgunj mayor Dhawal Shumsher Rana, acting chief district officer Balkrishna Panthi and ex-chairman of the bank Jit Bahadur Shrestha also expressed their views at the function chaired by vice-president of Nepalgunj Chamber of Commerce and Industry Sunil Kumar Sharma.

The bank is to expand its services to Biratnagar, Dharan and Pokhara also in the near future.

Meanwhile, in another RSS news received from Syanja, deputy governor of Nepal Rastra Bank Rambabu pant inaugurated Upakar Savings and Loans Cooperative set up For Carrying out financial transactions within Waling municipality.

On the occasion, Mr Pant said the cooperative had been given permission with the conviction that it could serve the rural people.

A host of speakers including Syangja DDC chairman Ram Bahadur Thapa and Waling mayor Bhojraj Aryal expressed confidence that the cooperative would provide reliable services to its clients.

Need for unity among trade unions stressed

BY A STAFF REPORTER

Lalitpur, May 27: State Minister for Industry, Commerce and Supplies Narendra Bikram Nemwang today stressed unity among trade unions to protect rights of the workers.

"Able leadership is essential for the development of sectoral organisations as well as the nation," Nemwang said addressing a five-day workshop on 'Building Trade Union in 21st Century through Leadership Development' here this morning. The Nepali Congress government is committed to enhance rights and welfare of the workers, he added.

Nepal Trade Union Congress (NTUC) President Laxman Bahadur Basnet said that the workers could enjoy their rights only if they were united.

Basnet stressed the need to take necessary measures to protect national industries that were on the verge of collapse due to the wave of liberalisation.

NTUC central member Rajendra Acharya, ICFTU (International Confederation of Free Trade Unions) representative P. Haridashan, Bangladesh Workers' Council representative Sakil Chaudhari and Asha Singh Rathour spoke on workers' welfare and international trade union movement.

Organised jointly by NTUC and ICFTU, the workshop is being participated in by about 30 individuals - NTUC district representatives and others.