The Nepal Stock Exchange (Nepse) has signed an agreement with the Bloomberg L.P which will examine and propagate the information about Nepal’s stock market on its website.
Bloomberg is an international analysis company which provides 24/7 financial news and information including real-time and historic price data, financials data, trading news and analyst coverage as well as general news and sports.
On Monday 18th March, Nepse and Bloomberg signed a memorandum of understanding of the deal. Managing director and general manager of Nepse Sitaram Thapaliya and Jennifer Cole the Bloomberg’s representative in Nepal signed the agreement which will come in effect from today.
Thapaliya said “The memorandum has been effective from today, and I hope Bloomberg will start publishing Nepal’s data within a week.”
“It approached us after its clients asked for information about Nepal’s share market too.” He also said that Nepse would not pay any fee for dissemination of information and analysis of data.
Bloomberg which is founded on 1st October 1981 has 192 offices which headquarter is situated at New York City, USA, Bloomberg Tower. It has more than 315,000 users worldwide.
Thapaliya added “Bloomberg’s clients asking it to include information about the Nepali market suggest that there are international investors interested in it”.
While Nepal is in need to grab the attention from the world to attract more tourists this opportunity to be listing in Bloomberg’s website is great news. Currently Nepal government has adopted a policy of attracting foreign investors to Nepal’s market and signing this agreement will entice more investors to Nepal stock market.
Nepse has not signed any contract with any international institutions however; this is the first time in the history of Nepse to sign the agreement with such a big and renowned international institutions which analyse the financial statements of listed companies.
Info: Sajhilo Nepali Magazine