SEPTEMEBRASIA BUSINESS OUTLOOK8INDIA TO INCREASE ELECTRICITY EXPORT TO NEPALNepal Prime Minister Pushpa Kamal Dahal 'Prachanda' stated on August 18 that his government intends to increase electricity exports to neighbouring India from 450 MW to 10,000 MW over the next ten years, and the two countries have already signed a preliminary bilateral agreement to that effect. Speaking at the 38th anniversary of the Nepal Electricity Authority here, Prachanda stated that Nepal is transforming in the hydropower sector and will continue to create a conducive environment for attracting foreign investment."Our country is preparing and waiting with bated breath for larger economic transformation through rapid development of hydro-electricity and maximum internal consumption in the coming decade," he said."Though Nepal is currently exporting around 450 MW of electricity to India we are aimed at taking the power export to 10,000 MW in the next ten years period for which Nepal and India have already signed a preliminary bilateral agreement," Prachanda said."The understanding we had during my meeting with Prime Minister Narendra Modi in India as a milestone towards achieving long-term power trade to have access to the international market for our surplus electricity," he pointed out. CHINESE REGULATORS INTRODUCE MEASURES SEEKING REVIVAL OF STOCK MARKETChina's securities regulator said on Aug 18 it would cut trading costs, support share buybacks, and introduce long-term capital as it unveiled a package of measures to revive the stock market and boost investor confidence.The China Securities Regulatory Commission (CSRC) said it was not aware if there would be a cut in stamp duty, a measure hotly discussed recently but beyond CSRC's power.Other measures laid out by the CSRC include boosting the development of equity funds, studying plans to extend trading hours, and improving the attractiveness of listed companies. The slew of measures comes after China's top leaders vowed to reinvigorate the stock market in late July, which has been reeling amid the country's flagging economic recovery.But Friday's measures are seen by some investors as being incremental.The measures "will give a short-term lift to a market where investors are extremely pessimistic," said Pang Xichun, research director at Nanjing RiskHunt Investment Management Co."But they won't change the market fundamentals. A bull market requires genuine policies that would boost credit expansion." SEPTEMEBRASIA BUSINESS OUTLOOK8
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