Nepal Stock Exchange (Nepse) and Bloomberg today signed an agreement to internationalise Nepal’s stock market.
The international financial analysis company will examine and disseminate information about Nepse, said Nepse general manager Sitaram Thapaliya, after signing the agreement with Bloomberg’s representative in Nepal Jennifer Cole.
Nepse will make available its data to Bloomberg which would analyse using its financial software tools and publish the results on its website, according to the memorandum of understanding that has been effective from today.
” Bloomberg will start publishing Nepal’s data within a week,” Thapaliya said, adding that Nepse would not have to pay Bloomberg any fee for dissemination of information and analysis of data. “Bloomberg itself approached Nepse after its clients asked for information about Nepal’s share market too.”
Bloomberg that has more than 315,000 users has also promised to help Nepse conducts training programmes.
Bloomberg’s financial analysis of domestic companies would help investors make the correct decision as it is considered to be credible,” according to the Nepse that has been looking up since the starting of the current fiscal year.
The move is also expected to help attract international investors to Nepal’s stock market as the government is interested in bring in foreign investors. The government has already accepted Non-Resident Nepalis investment in the stock market, principally.
Likewise, Bloomberg’s clients asking it to include information about the Nepali stock market reflects international investors interest in it.
This is the first time that Nepse has signed an agreement with international institutions that analyse the financial statements of listed companies.