Gold hits record Rs 40,725

KATHMANDU, AUG 08 -Gold touched yet another record on Monday, trading at Rs 40,725 per 10 gm (Rs 47,502 per tola) in the domestic market. The price of the yellow metal in the international market reached more than US$ 1,700 per ounce.

Gold rose Rs 2,745 per 10 gm in a week from Rs 37,980 last Monday. A slump in the international stock market and a weakened dollar resulting from the economic crisis in Europe and the US led to gold reaching all-time highs, said traders. According to the Nepal Gold and Silver Dealers Association (NEGOSIDA), the yellow metal on Monday became dearer by Rs 730 per 10 gm compared to the price on Sunday. Last Friday, it traded at Rs 39,565 per 10 gm.

Ring Road widening work to start by January

KATHMANDU, AUG 04 - The Ministry of Physical Planning and Works has stated that the work on widening the Kathmandu Ring Road will start by January next year. A technical team from China is visiting Nepal to start work on detailed design for the road improvement within next three months.

In the first phase, the government, under the grant assistance of the Chinese government, is planning to improve 9.5 km road stretch from Gangabu-Jhamshikhel.

Under the improvement project, the current two-lane Ring Road will be widened to a four-lane two-way main road, a four-lane two-way relief road, two-way bicycle path and two-way pedestrian path, including bus stations and parking lots.

Parliamentary panel starts market monitoring

KATHMANDU, AUG 01 -The sub-committee on labour, transport, industry, commerce and supplies under the parliament’s Finance and Labour Relations Committee inspected the milk processing units of two companies, Kathmandu Dairy and Sitaram Gokul Milks Kathmandu, on Monday. Suspecting the companies of selling adulterated milk containing hazardous chemicals, the lawmakers and government officials has confiscated 11 sacks of caustic soda and five sacks of sodium bicarbonate (baking soda) from them.

Caustic soda, whose chemical name is Sodium hydroxide (NaOH), is a caustic metallic base. It is used in many industries, mostly as a strong chemical base in the manufacture of pulp and paper, textiles, drinking water, soaps and detergents and as a drain cleaner.

Govt told to maintain adequate stock of essential goods

KATHMANDU, JUL 31 - The parliamentary Finance and Labour Relations Committee on Sunday directed the government to maintain sufficient stocks of essential goods to ensure smooth supply and check artificial price hikes with the festive season approaching. The committee has also asked the government to conduct effective central and district level market monitoring and take immediate action against wrongdoers.

The committee has asked the concerned ministries and departments under them to keep ample stocks of food, LP gas, kerosene, petrol and diesel in response to its sub-committee’s recommendation