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All Stock Market Indices Decline; NEPSE Drops to 2531 Points

News Summary

Shared after editorial review.

  • On Thursday, the NEPSE index dropped by 13.85 points to settle at 2531, with the turnover decreasing to NPR 399 crore.
  • Today, 69 companies saw their share prices increase, while 201 companies’ prices fell; the Production and Processing sector declined the most by 1.14%.
  • Liberty Energy’s shares surged by 15%, whereas Sindhu Development Bank’s shares dropped by 15%.

September 10, Kathmandu – On Thursday, all stock market indices declined. The main market index, NEPSE, fell by 13.85 points. In the previous session, NEPSE had declined by 15.43 points. After today’s trading, NEPSE closed at 2531 points.

The total turnover also fell. Compared to NPR 419 crore traded the previous day, today’s turnover was NPR 399 crore. While 69 companies experienced a rise in share price, 201 companies saw a decrease, and 8 companies remained unchanged. The Production and Processing sector experienced the largest fall of 1.14%, whereas other sectors recorded declines below 1%.

The sectoral performances were as follows: Banking declined by 0.47%, Development Banks by 0.34%, Finance by 0.66%, Hotels and Tourism by 0.50%, Hydropower by 0.55%, Investment by 0.41%, Life Insurance by 0.17%, Microfinance by 0.56%, Non-life Insurance by 0.78%, Others by 0.64%, and Trading by 0.27%.

Liberty Energy led the day’s gainers with a 15% increase in share price. Other notable gainers included Dolti Power (8.22%), Upper Lohorekhola (7.02%), Emerging Nepal (5.46%), Shivshree Hydro (4.92%), Central Finance (4.46%), and Janaki Finance (4.28%).

Sindhu Development Bank experienced the largest loss at 15%. Corporate Development Bank dropped by 5.24%, Shubham Power by 5.19%, Dhaulagiri Microfinance by 4.50%, and Barahi Hydropower by 4.40%.

The most actively traded companies today included Liberty Energy, Reliance Spinning Mills, NRN Infrastructure, Nepal SBI Bank, Ridi Power, Solu Hydropower, Garima Development Bank, and Sanima Middle Tamor.

Nepal ACC Emerging Team Qualifies for Asia Cup

Nepal’s ACC Emerging Team has secured qualification for the Asia Cup. By defeating Oman in the semifinal of the ACC Premier Cup held on Thursday, Nepal advanced to the final, which also guarantees their spot in the Emerging Teams Asia Cup. According to the tournament rules, the two teams reaching the Premier Cup final along with the third-place team qualify for the Emerging Asia Cup. Kathmandu, 26 Bhadra. Nepal will face UAE in the final on Saturday, where a victory is required to confirm their Asia Cup qualification.

New Restrictions Imposed on Savings and Loan Operations of Cooperative Federations

News Summary

  • The Department of Cooperatives has instructed cooperative federations to cease accepting new deposits and providing new loans, thereby halting savings and loan operations.
  • The Department has mandated federations currently conducting savings and loan transactions to either form a cooperative bank or merge with an existing bank within three years and to publicly disclose a timetable for this process.
  • Federations are required to finalize assets and liabilities, conduct audits, hold general assemblies, and submit strategic work plans to the authority by the end of the current fiscal year’s mid-January, as per Department directives.

September 11, Kathmandu – The Department of Cooperatives has imposed a restriction on cooperative federations, instructing them to immediately halt new transactions. Federations have been directed not to accept new deposits or issue new loans.

The directive is based on the implementation of Sub-Clause 9 of Clause 50 of the Cooperative Act, 2017, which restricts cooperative federations from engaging in new savings and loan transactions.

However, district, provincial, and central cooperative federations currently engaged in savings and lending may, within three years, form a cooperative bank or merge with an existing cooperative bank. This provision follows the Cooperative Act amendment ordinance introduced in April and passed by the House of Representatives in June.

The Department is enforcing these legal provisions through official guidance to the federations.

Additionally, federations must ensure no risk arises from existing savings and outstanding loans by preparing and publicly sharing a clear schedule for the repayment of member institutions’ deposits and loans, aiming for settlement within three years.

The Department has further mandated that by mid-January of the current fiscal year, federations must finalize their assets and liabilities, complete audits, and hold general assemblies without fail.

They are also required to develop a strategic action plan regarding whether to establish a cooperative bank or proceed with a merger, supported by board decisions and general assembly approval, and submit these plans to the Cooperative Registrar’s Office and the National Cooperative Regulatory Authority.

Federations moving towards bank formation or merger must fulfill all standards outlined in the Cooperative Act, rules, directives, and those set by Nepal Rastra Bank and the Regulatory Authority. They must also prepare initial mutual agreements and detailed reports for submission to the Registrar’s Office and the Regulatory Authority.

Cooperative federations engaged in savings and loans need to coordinate and cooperate with their subordinate federations, with central federations facilitating provincial federations, provincial federations coordinating with district cooperative federations, and issue-specific cooperative federations liaising with the National Cooperative Federation, as per Department instructions.

Since these federations will be regulated by the National Cooperative Regulatory Authority, they have also been directed to timely provide all requested financial statements, reports, and details.

Lastly, all cooperative federations are instructed to uphold cooperative values and principles, support the development, promotion, and marketing of cooperative businesses, provide education and training, foster mutual cooperation between cooperatives, monitor their member institutions, and engage in policy advocacy to promote good governance within the cooperative sector.

Nepal and UAE Set to Clash in ACC Premier Cup Final

Nepal secured a spot in the final of the ACC Premier Cup currently underway in Malaysia by defeating Oman in the semifinal on Thursday. In the other semifinal, the United Arab Emirates beat Hong Kong by 7 wickets to advance to the final. The final match between Nepal and the UAE is scheduled for Saturday, with the winner earning a place in the upcoming Asia Cup.

On 26 Bhadra, Kathmandu – Nepal and the UAE will compete for the ACC Premier Cup title in Malaysia. Nepal earned their place in the final after an impressive victory over Oman in Thursday’s semifinal. Meanwhile, the UAE secured their final spot by defeating Hong Kong by 7 wickets in the other semifinal.

The UAE remains unbeaten in this tournament, having won all four of their group stage matches, strengthening their claim as finalists. Nepal, on the other hand, suffered a loss against Hong Kong in the final group stage match. The final is scheduled for Saturday, with the championship winner securing qualification for the Asia Cup.

‘The Flood Waves Would Sometimes Drag Me Under, Sometimes Push Me Back Ashore’

News Summary

Created by AI, editorially reviewed.

  • Ramprasad Tharu from Bardiya survived despite being swept away by the flood on Bhadra 10 at Mailung Hydropower Project by reaching the riverbank.
  • Tharu described how while escaping flood warnings, the waves dragged him underwater, and he regained consciousness only to crawl out of the silt by himself.
  • He was airlifted to Kathmandu by helicopter and is currently undergoing treatment for injuries to his legs, head, and abdomen.

Ramprasad Tharu, 35, from Jodipur, Barbardiya-1 in Bardiya district, was working at the Mailung Hydropower Project. During the devastating flood on Bhadra 10, although he was swept away, he managed to reach the riverbank and save his life. He is currently undergoing treatment. He shared his harrowing experience of that moment in an interview:

Where were you when the flood struck on Bhadra 10?

We had a night shift. After finishing the night duty, I came back in the morning, ate breakfast, and was resting when I received news about the incoming flood. I decided to flee. There were two of us in the room; another colleague was still on duty.

He came and said, ‘The flood is coming, let’s run.’ We started to run. We had reached the upper road. I was slightly above the road when the flood swept me away and dragged me down—how far, I don’t know.

What work did you do there?

I worked for a company at the hydropower project.

Which hydropower project?

Power China company at Mailung.

How did you learn about the flood?

One of our colleagues was on duty in our room located near the office. He came, grabbed his bag and told us, ‘The flood is coming, let’s run.’

When we stepped outside, other security personnel were also coming out. Once the door was closed, it was hard to hear outside sounds. So he warned us, picked up his bag, and fled. We followed him.

Did the flood drag and push you under water? Were you swept away?

Yes, the flood waves hit me and pulled me under. Then it pushed me back up, then dragged me down again. I don’t know how far it took me. I lost consciousness and when I came to, I found myself crawling out from the silt near the mountain corner. I had gone slightly upward and climbed the hill.

Were there people around when you regained consciousness?

Nobody was there. I crawled out of the silt on my own. Expecting another major flood to come and sweep me away again, I climbed higher. The army heard my voice and came to rescue me.

There is mention that divers rescued you; what is the truth?

I know the army was involved. Four or five soldiers arrived after hearing my voice.

Some say a member of the Armed Police pulled you out from the river; do you know about this?

I am not aware of that. I crawled out myself from the silt. There was no one near me at that time.

After crawling out, you climbed higher and met army and police, correct?

Yes, the army was above me. I called out for help, shivering from the cold. Four to five came and stayed with me to keep me safe. Later they said they would arrange a helicopter. Soon after, the helicopter arrived.

I am not sure where they took me from there. Although I couldn’t see, I could hear voices. My body and face were covered with mud.

Did they wash the mud off?

At the main entrance, I don’t know if they cleaned it. I had no clothes, only a vest. The army took a blanket from their bag and covered me.

Where did the helicopter take you?

It seemed like they took me to the hospital the same day. Shortly after, I regained consciousness. I heard voices saying Kathmandu. Some say I was flown to Kathmandu that same night.

How is your current health condition?

I still have many wounds that are not yet healed. The cut on my leg is severe. There are also injuries on my head and abdomen. My stomach still aches. I am a bit better than before.

When will you return home?

They said I would be discharged from the hospital today, but I won’t go home yet. My wounds haven’t healed, so I will stay at the camp.

How long had you been working at Mailung?

It’s almost been one year with intermittent visits. I first came in Saun last year. I went home in Magh, returned, then went home again in Jestha after completing planting, and came back in Saun. So, it’s only been one month since this last arrival in Saun.

Nepal Defeats Oman to Reach ACC Premier Cup Final

Sandeep Lamichhane

Image Credit, CAN

Published

Reading time: 2 minutes

Outstanding bowling performances helped Nepal defeat Oman by 87 runs to advance to the ACC Premier Cup final.

In the semifinal held on Thursday at the Bayumas Cricket Oval Stadium in Malaysia, Nepal batted first and were all out for 147 runs.

However, the combined bowling efforts of Captain Sandeep Lamichhane, Lalit Narayan Rajbanshi, and Dipendra Singh Airee led Nepal to victory.

Nepal bowled out Oman for just 60 runs in 28.1 overs.

In the final, Nepal will face the winner of the other semifinal between Hong Kong and UAE. Winning this tournament will secure Nepal’s qualification for the Asia Cup.

Direct Contact with Nature Enhances Immune System Strength

Kathmandu, September 10 – Many people are aware of the visual and auditory pleasures derived from spending time outdoors in nature. However, recent research has unveiled significant findings regarding the impact of directly touching soil, plants, and trees on human health. A scientific study conducted in Finland reveals that direct contact with soil and natural vegetation increases the diversity of microbes residing on the skin, thereby strengthening the immune system.

In an experiment led by ecologist and nature-health researcher Miira Grönroos from the Finnish Environment Institute, participants applied soil and peat moss to their hands for 20 seconds. Even after washing their hands with water, there was a notable increase in both the number and diversity of beneficial bacteria on their skin.

Scientists explain that a balanced mixture of bacteria on the skin helps inhibit the spread of harmful pathogens. Similarly, a two-year study involving Finnish children, led by environmental expert Marja Roslund, yielded comparable results. Children who regularly played in natural environments such as soil and shrubbery-covered yards exhibited greater microbial diversity on their skin after one year compared to those who played in paved or cemented areas.

The research further indicates that an increase in the diversity of certain bacteria, particularly Gammaproteobacteria, correlates with elevated levels of regulatory T cells (a type of white blood cell), which effectively modulate the immune system and reduce the risk of autoimmune diseases.

These benefits of natural contact are not limited to children; studies have confirmed similar effects in adults as well. In one study, adults who grew vegetables indoors during winter using organic soil showed increased bacterial diversity on their skin and higher levels of anti-inflammatory cytokines in their blood, which reduce inflammation. Additionally, research demonstrates that integrating living plants such as “green walls” into office spaces improves employees’ skin health and lowers inflammatory markers in their bloodstream.

Researchers assert that these findings reinforce the “biodiversity hypothesis,” which suggests that a lack of environmental biodiversity has contributed to a rise in immune-related health issues in recent times. Small habits like touching tree bark, sitting on grass, and having direct contact with soil in daily life may have long-term positive effects on health.

Nepal All Out for 147 Runs Against Oman

In the ACC Premier Cup semifinal underway in Malaysia, Nepal was bowled out for 147 runs in 45.4 overs against Oman. After losing the toss and batting first, Nepal lost all their wickets and managed to score only 147 runs. Dipendra Singh Airey scored 51, and Basir Ahmad contributed 47 runs. Nepal found themselves in a precarious situation at 36-4 before Dipendra and Basir put together a 93-run partnership.

Dev Khanal made 13 runs, and Asif Sheikh added 11, but none of the other batsmen managed to reach double figures. Nepal lost their first wicket at 23 runs, and after reaching 129-5, they were eventually all out for 147. Oman’s Jay Odedra bowled 10 overs, conceding 26 runs and taking 3 wickets. Hasnain Shah also claimed 3 wickets, conceding 28 runs in 8.4 overs. Muhammad Imran took 2 wickets, while Shakeel Ahmad and Mujibur Ali picked up 1 wicket each.

Why Consuming Hot Tea or Coffee Can Be Dangerous?

September 10, Kathmandu – Researchers from Oxford University have found that regularly drinking very hot beverages such as tea or coffee significantly increases the risk of esophageal cancer. Published in the International Journal of Cancer, this study is considered the largest of its kind to date, analyzing data from nearly one million men and women. According to the research, individuals who consume beverages at temperatures of 65 degrees Celsius or higher have about three times the risk of developing esophageal cancer compared to those who drink them warm.

The study also indicates that drinking six or more cups of hot beverages daily further raises this risk. Scientists explain that consuming very hot liquids damages the inner cells of the esophagus, which can lead to cancer. Lead researcher Dr. Karen Papier noted that previous studies on “mate,” a popular hot herbal drink in South America, yielded similar results. Typically, water boils at 100 degrees Celsius in a kettle and cools to between 90 and 95 degrees Celsius when poured into a cup.

However, a suitable temperature for takeaway coffee or tea is between 49 and 60 degrees Celsius. Although adding milk cools the drink slightly, researchers recommend waiting a few minutes before drinking to ensure safety. Experts also mention that this type of cancer, known as squamous cell esophageal cancer, is rare and poses a low overall risk to the general population. According to the researchers, avoiding very hot drinks could prevent 1 or 2 out of every 10 cases of esophageal cancer. Cancer Research UK points out that smoking and excessive alcohol consumption are the primary causes of esophageal cancer, making quitting smoking and reducing alcohol intake the most effective preventive measures. Common symptoms of esophageal cancer include chest or throat pain, difficulty swallowing food, a burning sensation in the stomach, and weight loss.

Final Three Matches of Nepal Volleyball League Phase Today: What Results Do Teams Need?

Today marks the final three matches of the league phase in the Nepal Volleyball League (NVL), determining which team will directly qualify for the final by securing the top position. Annapurna Spiker Kings currently lead the standings with 9 points. Karnali Shivraj and Kathmandu Reds are tied with 8 points each, while Sagarmatha Smashers have 7 points, all competing for the top three spots. If Annapurna defeats Sagarmatha either in straight sets or with a 3-1 scoreline, they will advance directly to the final, whereas Sagarmatha will be eliminated from the top three race if they lose. Karnali needs to overcome Madhesh Warriors to reach 11 points, potentially securing a spot in the finals ahead of their last game. Kathmandu Reds also stand a chance to confirm their playoff position before their final match. (September 10, Kathmandu)

All six teams participating in the league will play their last league phase matches on the same day. The top teams among these six will claim places in the final race, while the bottom three will be eliminated from the league. Currently, four teams are contending for the top three positions: Annapurna Spiker Kings, Karnali Shivraj, Kathmandu Reds, and Sagarmatha Smashers. After four matches, Annapurna tops the table with 9 points, while Karnali and Kathmandu each have 8 points. Sagarmatha has accumulated 7 points. Madhesh Warriors stand fifth with 4 points, and Khaptad Falcons are sixth without any points. Both Madhesh and Khaptad have no chance of making it to the top three.

The first match today begins at 1 PM between Annapurna and Sagarmatha. Leading the standings, Annapurna is a strong contender for the final. Having won three consecutive matches and in great form, Annapurna will secure a direct final spot if they defeat Sagarmatha in straight sets or with a 3-1 set score. However, if Sagarmatha wins, Annapurna might need to participate in the playoffs. A loss for Annapurna would mean their fate depends on the results of the other matches.

The second match will start at 4 PM between Karnali and Madhesh. This game is crucial for Karnali. They will strategize based on the outcome of the first match. Karnali, currently second with 8 points, will move to 11 points with a win. Madhesh Warriors’ chances of entering the top three are already over, so the result will have limited impact for them.

The final league phase match will take place at 7 PM between Kathmandu and Khaptad. All other teams will have completed their games by then, allowing Kathmandu to clearly understand the results they need. If Annapurna defeats Sagarmatha in the earlier match, Kathmandu will secure a playoff spot even before their game.

Impact of Rasuwa Floods on Nepal’s Tourism Amid Start of Peak Season

Following the devastating flood on September 26, widely shared videos across social media platforms have raised concerns about negative perceptions among potential tourists considering visiting Nepal. The Ministry of Culture, Tourism, and Civil Aviation has initiated collaborative efforts with stakeholders to address misconceptions that Nepal’s entire tourism sector is at risk due to damages localized within limited areas of the country. Tourism experts have emphasized that major tourist destinations remain safe, though ensuring good road accessibility is essential. Travel industry professionals have also called for immediate government intervention to resolve disruptions on the key Prithvi Highway connecting Kathmandu to other parts of Nepal.

The Rasuwa-Trishuli flood has resulted in at least 1,300 fatalities and more than 5,000 individuals missing. According to the National Disaster Risk Reduction and Management Authority, 587 tourists have been affected. Tourists from countries including India, the UK, the US, and various European nations are among those impacted, which has intensified concerns about discouraging future visitors. The tourism sector, which traditionally sees peak bookings from September through November, has already seen a significant volume of reservations. However, as per Sagar Pandey, president of the Trekking Agencies’ Association of Nepal (TAAN), the floods along the Bhote Koshi and Trishuli rivers are beginning to exert immediate effects.

“While the precise impact is yet to be quantified, our survey shows that about 70% of pilgrims scheduled for Kailash journeys in September have canceled their plans. Cancellations in other regions have also increased, suggesting an overall decline of approximately 30-40%,” explained TAAN President Pandey. He further noted that the blockage on the Prithvi Highway following the Trishuli floods has disrupted supply chains, contributing to an uptick in trip cancellations. Nevertheless, with rainfall expected to decrease by October and reduced risks of further flooding and landslides, the sector anticipates no major long-term adverse impact.

Former CEO of the Nepal Tourism Board, Deepak Joshi, outlined the dual impact of the floods on tourism: physical damage and damage to the sector’s reputation. “Discussions with hotel associations and tour operators reveal damage to roughly 142 hotels, nearly 60 restaurants, and approximately 150 transportation vehicles. Additionally, about 200 personnel active in tourism are currently unaccounted for,” Joshi stated. Meanwhile, many social media influencers and users are actively promoting visits to Nepal, widely sharing footage that encourages travel despite recent events.

Raphinha’s Two Goals Propel Barcelona to Convincing Victory

Barcelona secured an emphatic 5-1 win over Feyenoord at home in the UEFA Champions League group stage. Raphinha scored twice in the 3rd and 57th minutes, bringing his season tally to seven goals in five appearances. Karim Adeyemi, Lamine Yamal, and Gabriel Jesus also found the net, with Jesus marking his first goal for Barcelona. Kathmandu, September 8.

In the Champions League group stage clash at their home stadium, Barcelona delivered a commanding performance by defeating Feyenoord 5-1. Raphinha opened the scoring early, netting in the 3rd and again in the 57th minute. Karim Adeyemi doubled Barcelona’s lead with an exceptional acrobatic finish in the 22nd minute, while Lamine Yamal added another goal in the 77th minute, and Gabriel Jesus contributed in the 85th minute. Feyenoord’s Sem Steijn scored a consolation goal in the 82nd minute.

Raphinha continues his impressive form this season with seven goals in five matches, having scored in every game so far. Meanwhile, Gabriel Jesus, who joined Barcelona this summer, scored his first goal for the club.

Over 80 Missing After Fire Breaks Out on Passenger Ferry in the Philippines

The Philippine Coast Guard reports that a fire on a passenger ferry resulted in at least five confirmed deaths and 87 people still missing. The vessel, named MV June Easter, was carrying over 100 passengers along with 17 crew members. The incident occurred in Palawan province, a popular destination known for its beautiful islands, island hopping, snorkeling, and diving activities. Videos circulated online show the ferry engulfed entirely in flames, with the Coast Guard rescuing some individuals from the water. Authorities later confirmed the rescue of 42 people. A Coast Guard spokesperson stated that the cause of the fire is under investigation. “We will wait for the investigation results, but our search and rescue operations will continue in the meantime. We are also coordinating with the ferry operator,” the spokesperson added.

The Coast Guard is actively attempting to extinguish the fire aboard the ferry and is patrolling the surrounding area. However, adverse weather conditions have complicated the rescue and search efforts. “Last night, the weather was poor, and the sea waves in the area were very strong,” the spokesperson explained. “According to data from our vessels, the waves remain intense in the area and are pushing the ferry further out to sea. These are the main challenges our personnel are facing during the search.” The Coast Guard emphasized that the entire government is involved in the search and rescue mission and that they have enlisted the help of local fishing communities. “We are doing everything we can because in situations like this, time is extremely critical,” the spokesperson added.

The spokesperson expressed condolences to the families of those who lost their lives and acknowledged the anguish of families still awaiting news of their loved ones. Maritime accidents are unfortunately common in the Philippines, an archipelago consisting of approximately 7,100 islands. Inter-island ferries are a vital and affordable mode of transportation for people and goods, especially to islands without air access. Nevertheless, rough weather, monsoon rains, and typhoons pose constant risks to sea travel. The country experiences an average of 20 typhoons annually, generating rough seas and hazardous conditions. Past incidents have often been attributed to poor maintenance and inconsistent enforcement of safety regulations. In 2023, a passenger ferry fire in the country’s southwest claimed at least 31 lives. With 87 people currently missing, this incident ranks among the most serious maritime disasters in the Philippines in recent times.

Ferran Torres’ Hat-Trick Propels PSG to a Spectacular Victory

With Ferran Torres scoring a hat-trick, Paris Saint-Germain (PSG) triumphed over Slovan Bratislava 6–1 in the UEFA Champions League’s new season. Torres scored in the 31st, 47th, and 57th minutes, completing his hat-trick in his club debut in the Champions League. Osman Dembélé gave the home team an early lead with two goals in the 17th and 23rd minutes. Fabian Ruiz added another goal in the 87th minute.

On 24th September in Kathmandu, Ferran Torres’ hat-trick helped the defending champions PSG start the Champions League season with an impressive 6–1 victory. Torres’ contribution was significant, marking an impactful debut in the Champions League for the club with his hat-trick. Suleiman Kamar scored for Slovan in the 58th minute, providing some consolation.

Alongside his two goals, Dembélé also assisted twice. PSG, who remain winless in the first three games of the French Ligue 1 season, are expected to boost their confidence with this comprehensive win in Europe.

Challenges Faced by Women in Holding Centers Following Bhote Koshi-Trishuli Floods

Women affected by the floods and residing in holding centers have reported that the flood on Bhadra 10 in the Bhote Koshi area displaced people from various districts. Those who lost their homes have been accommodated in different holding centers. Women in these centers emphasized the critical importance of having separate toilets, private living spaces, and overall privacy.

Addressing the question of who should play what role in meeting the distinct needs of women, Shubhechha Manandhar, Safeguarding Coordinator of the Gender and Inclusion Department at Nepal Red Cross Society, stated, “There is no need for new arrangements for separate housing; in the existing accommodations, men and women are separated.”

Women residing in holding centers after natural disasters face various other discomforts. There is a pressing need for discussions to address and find solutions to these challenges. Relevant stakeholders must consider what steps should be taken to respond effectively to these issues.