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On the eve of the new year 2080 BS, the members of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) elected a new leadership that will spearhead the country's apex business body for the next three years. The members had voted for the election for the new leadership (excluding the president) on Wednesday. As per the FNCCI statute, the senior vice president automatically becomes the president for the next term. With Chandra Prasad Dhakal, who got elected as the senior vice president in 2020 becoming the new president, the election of the senior vice president turned into a battle royale. None of the three candidates - Anjan Shrestha, Umesh Lal Shrestha, and Ram Chandra Sanghai who contested for the senior VP post garnered the required 50 percent votes in the first round of voting. Anjan Shrestha got the highest 37.99 percent votes, followed by Umesh Lal Shrestha with 31.51 percent votes and Ram Chandra Sanghai with 30.46 percent votes. As the first round of voting became inconclusive, the second round was scheduled for 2 pm on Thursday between Anjan Shrestha and Umesh Lal Shrestha. However, the voting was postponed for two hours as a consensus effort to select the senior VP. With Umesh Lal agreeing to let Anjan become the senior VP for the next term, the second round of voting did not take place. While the senior VP was elected through consensus in the end, the three vice presidents were elected in a cutthroat battle. Sur Krishna Vaidya was elected as vice president of the district/municipal chambers defeating Arun Raj Sumargi and Dinesh Shrestha. Vaidya who was from the Sanghai’s panel received 43 votes while his competitors Sumargi and Shrestha garnered only 37 and 34 votes respectively. Similarly, Jyotsana Shrestha (from Sanghai's panel) was elected as vice president of the associate group. She defeated Bharat Acharya by 65 votes. Hemraj Dhakal of Umesh Lal panel emerged victorious in the election of vice president of the commodities association. Dhakal defeated Manish Lal Pradhan (Anjan's panel) and Sakunta Lal Hirachan (Sanghai’s panel).

The Nepal Stock Exchange (NEPSE) plunged by 29. 08 points to close at 1,934.47 points on Thursday. Similarly, the sensitive index dropped by 29. 07 points to close at 1,934.47 points. A total of 4,913,702-unit shares of 270 companies were traded for Rs 1. 65 billion. Meanwhile, Adarsha Laghubitta Bittiya Sanstha Limited, Kalinchowk Darshan Limited and Molung Hydropower Company Limited are the top gainers today with their price surging by 10.00 percent. Likewise, Siddharatha Investment Growth Scheme is the top loser with its price dropped by 5. 50 percent. At the end of the day, the total market capitalization stood at Rs 2. 81 trillion.

One hundred and eighty Chinese tourists have arrived here on a chartered flight of Himalayan Airlines. The team of the Chinese tourists arrived in Kathmandu on the eve of the Nepali New Year this morning through Nepal Big Mountain Travel. Minister for Culture, Tourism and Civil Aviation, Sudan Kiranti, Chinese Ambassador to Nepal, Chen Song, Chief Executive Officer of Nepal Tourism Board (NTB) Dr Dhananjay Regmi, among others welcomed the Chinese tourists. Talking to media persons, Minister Kiranti said they were very happy to welcome such a large number of Chinese tourists for the first time after the coronavirus pandemic and on the eve of the Nepali New year. "Guests are god. We always welcome foreign guests as God," he mentioned. Minister Kiranti expressed the belief that such activities would help further strengthen Nepal-China relations. Saying there was a great role of the Chinese government in construction of Pokhara International Airport, he opined that Nepal has wanted to directly connect Pokhara International Airport with China by air. Minister Kiranti expressed hope that Chinese tourists would like Nepal as some of the cities of Nepal are similar to Chinese cities. Similarly, Chinese Ambassador Song said China has allowed Chinese tourists to go abroad after coronavirus came under control. He said that he was very happy to welcome the Chinese tourists in Nepal. Likewise, CEO Regmi mentioned that with the arrival of Chinese tourists, Nepal's tourism industry, which has been hit hard since 2019, is more excited. Nepal should be involved in tourism promotion targeting Chinese and Indian tourists, he added. Proprietor of Nepal Big Mountain Travel and tourism entrepreneur Sudarshan Nepal expressed happiness over the arrival of Chinese tourists after China on March 10 put Nepal on the list of tourism destinations after the coronavirus pandemic. The Chinese tourists would visit various tourist sites of Kathmandu Valley as well as Poon Hill during their one-week stay in Nepal.  

Two years after it exited from Nepal, IHG Hotels & Resorts, the British multinational hospitality company, is again entering the country with a larger presence. This time, IHG has tied up with Shangri-La Hotel and Resort Group, one of Nepal's leading hospitality groups, with a management agreement to develop four new hotel properties in Nepal. Earlier, IHG was in a management partnership with the five-star Soaltee Hotel that ended in May 2021. The new hotels under the partnership with Shangri-La Group are InterContinental Kathmandu, Lazimpat, Hotel Indigo Pokhara, Gharipatan, InterContinental Resort Pokhara, Begnas Lake, and InterContinental Resort Chitwan, Meghauli. The agreement will see IHG adding close to 500 rooms to its portfolio in Nepal. Two of IHG's global brands, InterContinental and Hotel Indigo will also make their debut in the Nepali market. Currently under construction, the new hotels are scheduled to open in the next 1-4 years. According to Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, the strategic location of all four hotels in different key tourism destinations of Nepal provides IHG with a great opportunity to offer world-class hospitality. “We are delighted to introduce two of our leading brands from the luxury and lifestyle portfolio, InterContinental Hotels & Resorts and Hotel Indigo, to Nepal," said Jain. Prasidha B. Panday, Chairman of Shangri-La Hotel & Resort Group said that partnership with IHG to open four new hotels will help to offer world-class hospitality to guests at a time when travel to Nepal has increased exponentially. "All new hotels will be located in top tourism hubs, and we expect to benefit from the strength and scale of IHG’s global systems, technology, and a strong loyalty program,” said Panday. InterContinental Kathmandu Lazimpat will be redeveloped on the same site as Shangri-la Kathmandu Hotel, which is one of the iconic hotels of Nepal. The Hotel Indigo Pokhara is located in Pokhara’s Gharipatan area and features 100-rooms The InterContinental Pokhara Begnas Lake is an 80 rooms hotel. Similarly, the InterContinental Resort Chitwan is located in the popular tourist destination of Mehgauli. The resort will feature 80 rooms. Of late, the IHG Group is expanding its presence in Nepal. In March 2021, the group signed a management agreement with the Swornim Hotel Pokhara Pvt. Ltd. to develop the Holiday Inn Express Pokhara Lakeside.