With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on…
With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on…
January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank…
The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on…
January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in…
January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal…
January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry…
January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road.…
January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday…
January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility.…
January 23: The number of tourists visiting the Everest region has declined this…
Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was…
Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous…
January 22: The import of agricultural products has decreased by Rs 23.3 billion in the first six months of the current fiscal year compared to the corresponding period of last…
January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the…
January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal…
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Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 24: With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietor, Sandeep Agrawal, stated that the mart has supplies of sanitary ware, tiles, marble, and electrical fittings required for home construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with Agrawal, young entrepreneurs of Birgunj, Anup Agrawal, Dinesh Banka, and Rakesh Sah, have jointly invested for the launch of the showroom. Agrawal mentioned that the aim of the mart is to provide customers with high-quality products at fair prices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietors of the mart said that they have plans to provide technical advice for home construction along with the sale and distribution of other construction materials. </span></span></p> ', 'published' => true, 'created' => '2024-01-24', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19787', 'image' => '20240124062624_collage (17).jpg', 'article_date' => '2024-01-24 06:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20059', 'article_category_id' => '1', 'title' => 'Personal Bank Accounts being Used for Business Transactions for Tax Evasion ', 'sub_title' => '', 'summary' => 'January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the annual report of FIU-Nepal released on Tuesday, the NRB said that personal bank accounts were used instead of business and institutional bank accounts to evade taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its findings, the report stated that 37 per cent of suspicious transaction reports received from January 2020 to December 2022 were related to the suspicious of tax evasion through use of personal bank accounts for business transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On an average, monthly 65 such suspicious transactions were received by FIU-Nepal during this period, the report states. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank, 48 per cent of such business transactions were linked with proprietorship business, 33 per cent with private limited companies and 19 per cent of such firms’ registration status remained unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The nature of such businesses involves trading, manufacturing, hotels and restaurants, travels, medical etc. Multiple personal accounts were found to be used for transaction for a single business. For such transactions, personal accounts of proprietor or shareholder is used in most of the cases. Other involved are: family members, employees," the report revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FIU-Nepal analysed 204 such cases and 113 were disseminated to the Department of Revenue Investigation and Inland Revenue Department for further investigation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Based on disseminated cases, involved suspicious amount is approximately Rs 12 billion on an annual basis," it stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its recommendation, the report has urged all the stakeholders to play active role for harmonization in nature of business and type of account used for the related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The customers are recommended to be aware of types of accounts and their purpose at the time of customer subscribing it. The report further says that business firms and companies need to be made aware regarding use of firm’s or company’s account while conducting business related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the regulators have been urged to impose fines and penalties on use of personal savings account for business-related transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The use of personal bank account for business related transactions should be discouraged through directives, reads the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the investigating agencies are recommended to include the personal accounts of shareholders, promoters, proprietors, key staffers and their close associates while undergoing tax assessment or any other kind of investigation. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19786', 'image' => '20240123100933_Personal-Bank-Account-Opening-in-Dubai.jpg', 'article_date' => '2024-01-23 22:08:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20058', 'article_category_id' => '1', 'title' => 'NEPSE Records Minimal Decline as Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Throughout the trading session, 310 scrips were traded in the NEPSE. As many as 11,801,360 shares exchanged their hands through 117,566 transactions, resulting in a total turnover of Rs 4.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Limited (HRL) led in turnover with a transaction amount of Rs 55 crores, while Chandragiri Hills Limited (CGH) marked the highest gain of 10%, triggering the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In contrast, Mid Solu Hydropower Limited (MSHL) experienced the most significant loss at 6.20%, concluding at a market price of Rs 575 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Regarding sector indices, half of the sectors closed in the red zone, and the remaining half ended in the green territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Remarkably, Hotels and Tourism showed the highest gain at 4.74%, whereas Life Insurance posted the maximum loss at 0.66%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Specific sector indices that ended in the red zone include Banking SubIndex, Hydropower SubIndex, Life Insurance, Manufacturing and Processing, Microfinance Index, and Mutual Fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, the Development Bank Index, Finance Index, Hotels and Tourism Index, Investment Index, Non-Life Index, and Others Index closed positively in the green territory.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19785', 'image' => '20240123041816_collage (16).jpg', 'article_date' => '2024-01-23 16:16:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20056', 'article_category_id' => '1', 'title' => 'Legal and Administrative Hassles Still a Major Deterrent for FDI: Experts', 'sub_title' => '', 'summary' => 'January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by US Education Foundation Nepal to discuss the potential and challenges for investment environment in Nepal, the participants argued that Nepal has failed to pay attention to the investors' will. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also pointed out that legal and administrative hassles, assurance of profit, guarantee of return on investment, availability of feasible projects for FDI, access to market for goods and services among others were the key challenges for bringing in FDI in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Executive Officer (CEO) of the Investment Board of Nepal Sushil Bhatta said that “we don’t have projects to showcase for the investors”.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that facilitation on the part of the Government of Nepal to create enabling environment for investment is still insufficient. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he expressed his regrets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Summit to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. There is immense potential for investment in service sector, high value manufacturing industries, IT sector besides infrastructure development," Bhatta said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former CEO of IBN Radhesh Pant called for responsibility and accountability to bring in more FDI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play a supportive role to create positive environment for welcoming FDI in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19784', 'image' => '20240123023724_FDIII.jpg', 'article_date' => '2024-01-23 14:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20057', 'article_category_id' => '1', 'title' => 'MoFAGA Requests Local Levels to Provide Details of Internal Employment ', 'sub_title' => '', 'summary' => 'January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Monday, the ministry requested the local levels to provide the details of the projects and programs related to job creation implemented in the previous fiscal year. The ministry has instructed the local levels to provide the details within seven days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoFAGA has sought details from the local levels to establish legal and policy framework to conduct 'Domestic Employment Promotion Decade' campaign from fiscal year 2081/82, make domestic employment promotion agencies fully accountable and expand employment-related activities in an integrated manner. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19783', 'image' => '20240123024023_20211215023334_20200315123851_1111.jpg', 'article_date' => '2024-01-23 14:39:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20055', 'article_category_id' => '1', 'title' => 'Businessmen Import Goods under Different Label from Birgunj Dry Port', 'sub_title' => '', 'summary' => 'January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice is being done unabated by big business houses in collusion with high-ranking officials of the Department of Customs and top political party leaders. After the revelation was made, the customs officials are trying to keep this a secret.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Dry Port and customs officials are on high alert after it was found that betel nuts were imported under the label of red lentil and chicken feed. Additionally, scooters were imported in containers labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Officials from the Department of Customs have visited the Birgunj Dry Port several time for inspection. During inspection, it was often found that the declared goods were packed on the surface level and the undeclared goods were often found deep inside the containers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A certain group is involved in sending banned goods concealed in containers with a different label through the green lane.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Goods entering the Dry Port customs are checked in green, yellow and red lanes. The goods coming through the green lane are inspected by the customs officials based on the declaration made by the importer. The yellow lane involves checking of documents. In the red lane, both the documents and goods are checked. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A customs official said that the case is being investigated. “A team from the Department of Customs has come here and is investigating the matter. Everyone involved in this activity will face action," said the official.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice was revealed after the Department of Customs issued a notice on November 26 requesting the importers to take away the containers that had been left stranded in the dry port for years. The department issued the notice stating that it will initiate the process of confiscating the goods that have been stranded in the Dry Port since the past four years if the importers do not come forward to claim the goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In March 2018, the government had banned the import of dried peas, pepper, betel nut, and dates. An official of the Dry Port Customs said that when the banned goods were imported in clollusion between the importers, political party leaders, high-ranking officials of the Department of Customs and Dry Port Customs. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"It is not possible without a setting from the top to the bottom level.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Department of Customs has recently issued letters to the importers whose goods do not match with the customs declaration.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The department has asked half a dozen importers to appear before them within seven days. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a provision in the Customs Act that goods must be cleared from the customs within 60 days of their entry into customs office. If the customs clearance is not done within this time, it can be confiscated. After the customs officials proceeded with the confiscation process of more than 400 containers that were left stranded at the port for years, the malpractice has come to the fore.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">After being transferred to the Dry Port Customs, Chief Customs Officer Dr Ram Prasad Mainali issued this notice. Although the customs officials themselves revealed this malpractice at the beginning, they are now trying to cover up the issue.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The customs officials started to hide information in this case after the former officials of the Dry Port Customs as well as the Department of Customs were dragged into this case. A customs official said that the business houses involved in this are putting pressure on the high-level political parties to settle the case. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Information officer Sushil Sharma, when asked about this matter, did not wish to say anything on the pretext that the case is under investigation. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"Nothing can be said until the investigation is over," said Sharma.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19782', 'image' => '20240123023602_20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2024-01-23 14:35:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20054', 'article_category_id' => '1', 'title' => 'Kathmandu Valley gets First 5-Star Hotel Outside Ring Road', 'sub_title' => '', 'summary' => 'January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. Recently, a five-star hotel named Budhanilkantha Heritage has been brought into operation outside the ring road with investment from an Indian hospitality chain brand.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Budhanilkantha Heritage Limited has started operating the hotel in collaboration with India's hospitality chain brand 'Lemon Tree Premier'. The 'soft launch' of the hotel was held on January 15. Babukaji Karki, the managing director of the hotel, informed that the hotel will be fully operational within a month.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the operation of the hotel was delayed due to the COVID-19 pandemic and the cost has also increased. During this period, the cost increased by Rs 100 million and the total cost reached Rs 2.5 billion rupees. Karki says that the Indian brand 'Lemon Tree Premier' has entered Nepal for the first time. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The hotel is at a distance of 5 km from Maharajganj (ring road) in Kathmandu. Most of the views of the Kathmandu Valley can be observed from the hotel rooms," said Karki. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel operators say that they aim to provide international level hospitality services at nearby locations outside the ring road targeting the guests from Kathmandu who prefer Godavari, Nagarkot and Dhulikhel as their favourite getaway from the busy life of the capital.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Our target customers are domestic. But since Lemon Tree Premier manages more than 120 hotels around the world, foreign tourists also come through this chain," added Karki.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel also plans to offer casino facility. Karki informed that the company has already purchased the land for casino and the service will be started soon. He said that the hotel will also have a health club, spa, seminar hall, banquet, restaurant and wedding ceremony venue. The company has submitted an application to the Department of Tourism for classification as a five-star hotel. The hotel has 102 rooms and 190 beds in 12.5 ropanis of land. There are 57 twin rooms, 33 king rooms, 6 junior suites, 4 business suites and 2 presidential rooms.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19781', 'image' => '20240123014335_buda4-5b26db7c.jpeg', 'article_date' => '2024-01-23 13:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20053', 'article_category_id' => '1', 'title' => 'KMC to Prohibit Roadside Parking in New Road Area ', 'sub_title' => '', 'summary' => 'January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As an alternative to the current parking facility, the KMC has said that it will provide free parking facilities at the Kathmandu Tower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Municipal Police Rajunath Pandey shared that 300 four-wheelers and 700 two-wheelers can be parked at the Kathmandu Tower at a time. The new provision is expected to ease traffic congestion in the major market hub of the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that parking will be prohibited on blacktopped roads in and around Dharmapath, Indrachowk, Khichapokhari, Mahabouddha, and around Bir Hospital. Earlier, a similar prohibition in vehicle parking was imposed by the KMC in Jhonche area. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19780', 'image' => '20240123011840_parking04ment-Esewa.jpg', 'article_date' => '2024-01-23 13:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20052', 'article_category_id' => '1', 'title' => 'Credit Flow to Industrial Sector Increased in Last FY', 'sub_title' => '', 'summary' => 'January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. The record of Nepal Rastra Bank (NRB) shows credit flow to the industrial sector increased in the last fiscal year (FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Annual Economic Activity Report <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span> published by the central bank recently, credit flow to the industries expanded by <span style="font-family:"Arial Unicode MS","sans-serif"">10.8</span> percent in the last fiscal year. Prior to that, credit flow to the industrial sector had declined by <span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> due to liquidity crisis and high interest rates<span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the NRB, banks and financial institutions (BFIs) provided loans worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1387.44</span> billion to the industrial sector in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>. Such loans disbursed in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> amounted to Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1251.96</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">While there has been an improvement in credit flow to the industrial sector, the growth rate of credit to the service sector remained lower than the previous year in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23. </span>The service sector credit increased by <span style="font-family:"Arial Unicode MS","sans-serif"">13.7</span> percent in the fiscal year <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> but increased by only <span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the central bank, out of the total loans disbursed by banks and financial institutions, the share of industrial sector loans is <span style="font-family:"Arial Unicode MS","sans-serif"">28.4</span> percent. In the last fiscal year, the highest credit went to the non-food product manufacturing industry at <span style="font-family:"Arial Unicode MS","sans-serif"">38.99</span> percent. Similarly, <span style="font-family:"Arial Unicode MS","sans-serif"">22.17</span> percent loans were disbursed to the electricity, gas and water related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">19.91</span> percent to the agriculture, forestry and beverage related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">12.81</span> percent to construction related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">5.27</span> percent to metal products, machinery and electronic related industries and <span style="font-family:"Arial Unicode MS","sans-serif"">0.86</span> percent to the mining related industries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among industrial loans, Bagmati Province witnessed the highest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">954.01</span> billion, while Karnali Province saw the lowest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">3.98</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the loans in the service sector, the highest loans were given to the wholesaler and retailer sub-sector at <span style="font-family:"Arial Unicode MS","sans-serif"">50 </span>percent, followed by <span style="font-family:"Arial Unicode MS","sans-serif"">12.2 </span>percent in the real estate sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">10.7 </span>percent in the tourism sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">9.8 </span>percent in the finance, insurance and real estate sub-sector, and <span style="font-family:"Arial Unicode MS","sans-serif"">5.5 </span>percent in the education sub-sector. A total of <span style="font-family:"Arial Unicode MS","sans-serif"">4.9 </span>percent loans were disbursed to the transport, storage and communication sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">3.7 </span>percent to other service sub-sector and <span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span>percent to health and other social work related sub-sector.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19779', 'image' => '20240123122602_indus.jpg', 'article_date' => '2024-01-23 12:24:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20049', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Falls 30 Percent in Everest Region ', 'sub_title' => '', 'summary' => 'January 23: The number of tourists visiting the Everest region has declined this winter.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The number of tourists visiting the Everest region has declined this winter.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Phudoma Sherpa from Khumjung village of Khumbu Pasanglhamu rural municipality-4 in the district is feeling desolate this winter. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the arrival of tourists was normal in the previous years, it is bleak this time, she says. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Last year, tourist influx was normal, but less number of visitors is worrying us this winter," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sagarmatha National Park Office at Namche also confirmed 30 percent fall in arrival of tourists in the Sagarmatha region this winter. Last year, a total of 1,920 tourists had visited the Khumbu area while only 1,329 tourists turned up this year, according to information officer at the Sagarmatha National Park Office, Manoj Kumar Mandal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the total visitors, 455 were domestic tourists while 1,465 were foreigners last year. A total of 120 Nepalis and 1,209 foreigners visited the Khumbu region so far this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, the Khumbu region has turned deserted due to the increasing cold. The National Park Office informed that the dip in mercury level is the reason behind it. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Everest <span style="font-family:"Arial Unicode MS","sans-serif"">region, which is home to the world’s highest peak, bustles with tourists only for six months in a year. The peak season for tourists to visit this region of natural beauty is September, October and November.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the peak season, as many as 1,000 tourists visit the Khumbu region a day, while there are hardly five to seven tourists now, information officer Mandal added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward-4 Chairman Laxman Adhikari said the tourism entrepreneurs are out of business at present. Even the locals have left villages to avoid cold. During the off-season, the locals shift to lowlands to avoid excessive cold.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Area Administration Office, Namche, Sujan Kumari Bardewa, said the places such as Lukla, Namche, and Khumjung now wear a deserted look with limited number of people. Many people go to lower elevation areas to escape unforgiving cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public offices also record negligible number of service seekers, Bardewa added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tilak BK, a teacher at Khumjung Secondary School, says, "As the winter begins, the people here leave for warm places including Kathmandu and some even make pilgrimage to Bodhgaya, India." Most of the people of Khumbu stay in Kathmandu during the winter. – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19776', 'image' => '20240123112749_256058_218722994818098_1370242_o.jpg', 'article_date' => '2024-01-23 11:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20048', 'article_category_id' => '1', 'title' => 'Economy Returning to Normalcy: Minister Mahat', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, Mahat reassured the public of discussions with officials from both Nepal and India concerning the potential reopening of several checkpoints along the Bara district border. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Emphasizing the accelerated efforts to attract investments for the Nijgadh Airport, he urged the public not to doubt the progress of the airport's construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Providing updates on infrastructure projects, Minister Mahat mentioned the nearing completion of the Sunkoshi Marine Diversion Multipurpose Project.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> He expressed confidence that the project's conclusion would significantly enhance irrigation in various districts within the Madhesh region.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a separate visit to Choti Bhansar, a customs office at Simraungadh in the district, Minister Mahat pledged to expedite the opening of the custom point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Mahat inspected the Sanphulawa checkpoint in Swarna rural municipality on the same day, underscoring the government's commitment to enhancing regional connectivity. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19775', 'image' => '20240123062302_collage (14).jpg', 'article_date' => '2024-01-23 06:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20047', 'article_category_id' => '1', 'title' => 'Lumbini Bikas Bank Extends Succour to Sahara Football Academy', 'sub_title' => '', 'summary' => 'Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 22: Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ramchandra Sigdel, a member of the bank's executive committee, handed over a cheque of the financial aid to Keshavraj Baral, the club's president. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund is intended for the nutrition and food expenses of the boys and girls residing in the academy. Currently, the academy accommodates 45 underprivileged and vulnerable children from 15 districts facing challenging circumstances.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sahara Club Pokhara provides care and football training along with education to these children. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19774', 'image' => '20240122045423_collage (24).jpg', 'article_date' => '2024-01-22 16:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20046', 'article_category_id' => '1', 'title' => 'Import of Agricultural Products Declines by Rs 23 Billion', 'sub_title' => '', 'summary' => 'January 22: The import of agricultural products has decreased by Rs 23.3 billion in the first six months of the current fiscal year compared to the corresponding period of last FY.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The import of agricultural products has decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">23</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">3</span> billion in the first six months of the current fiscal year compared to the corresponding period of last FY. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the latest data published by the Department of Customs, the import of agricultural products has decreased in the review period due to the restrictions imposed by India.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The import of food items such as paddy, rice, wheat, ghee, oil, sugar has decreased, while the import of tea, coffee, fruits and nuts has increased. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Analysts say that the price of food grains is likely to increase if the import of the main agricultural products decreases. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Punya Bikram Khadka, information officer of the Department Customs said that the imports of agricultural products into Nepal has decreased due to restrictions imposed by India. According to him, the import has been affected due to the ban imposed by India on the export of various agricultural products including paddy, rice, wheat, onion, sugar. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In addition, he said that imports have also been affected due to recent structural changes in the quarantine centers at the border crossing to Nepal that has caused problems with the customs inspection.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country imported ghee and oil worth <span style="font-family:"Arial Unicode MS","sans-serif"">52</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">1</span> billion in the first six months of the previous fiscal year, but the import value this year stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">34</span> billion. The import of ghee and oil decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">26</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">76</span> billion this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepla had imported food items such as rice, corn and wheat worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">27</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91</span> billion in the first six months of last FY while such items worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">22</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">22</span> billion have been imported this year. Likewise, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">2.31</span> billion was imported in the first six months of last year, but in the same period of the current year, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1.93</span> billion was imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Khadka said that if the import of the main agricultural produce decreases, the market price of those products may also be affected. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Our market policy seems to be very weak. From the very next day after the news of decline in imports comes out, there is an artificial shortages of goods in the market and price increases. Therefore, it cannot be said that it will not happen again,” he told New Business Age.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19773', 'image' => '20240122032824_20231226122800_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2024-01-22 15:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20044', 'article_category_id' => '1', 'title' => 'Major Survey for Petroleum Exploration in Dailekh Reports 80 Percent Progress ', 'sub_title' => '', 'summary' => 'January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to project chief of the Department of Mines and Geology, Dinesh Kumar Napit, studies so far suggest that Dailekh could be a major source of petroleum products and natural gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The final drilling that will go underground up to four kilometers will be vital in determining the available volume of petro products. The drilling is assisted by a giant machine brought from China, according to Napit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploration is underway here since September-October, 2019. It is jointly carried out by the Department of Mines and Geology under the Government of Nepal and China-based Geological Survey at the cost of Rs 2.40 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19772', 'image' => '20240122023324_explore.jpg', 'article_date' => '2024-01-22 14:28:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20043', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Almost Seven Hundred Billion Rupees in Six Months', 'sub_title' => '', 'summary' => 'January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year. According to the data published by the Department of Customs, Nepal’s trade deficit stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">693</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">19</span> billion as of mid-January. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of the department, the transaction amount of Nepal’s foreign trade was Rs 843.13 in <span style="font-family:"Arial Unicode MS","sans-serif"">6</span> months of current fiscal years. It includes Rs <span style="font-family:"Arial Unicode MS","sans-serif"">768</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">16</span> billion spent on imports and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">74</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion earned from exports.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, the country’s imports have declined by <span style="font-family:"Arial Unicode MS","sans-serif"">3.09</span> percent and export by <span style="font-family:"Arial Unicode MS","sans-serif"">7.23</span> percent in the first six months of the current FY compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Overall, foreign trade decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">3.47</span> percent, while the trade deficit decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">2.62</span> percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal incurred the maximum trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">424</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion with India alone. In the first six months of current FY, Nepal imported goods worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">474</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">89</span> billion from India while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">50</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion. After India, Nepal incurred high trade deficit with four countries including China, the United Arab Emirates, Ukraine and Malaysia.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By mid-January, Nepal had a trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">145</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">79</span> billion China, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">12</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">26</span> billion with the United Arab Emirates, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">9</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion with Ukraine and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif""> 6</span> billion with Malaysia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal recorded the highest trade surplus with the United States of America.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the six months of the current fiscal year, Nepal imported goods and services worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">7</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">63</span> billion from the USA while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">33</span> billion. In other words, Nepal had a trade surplus of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">736</span> million with the USA.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal mostly imported petroleum products. The country imported diesel worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">66</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">49 </span>billion by mid-January, followed by imports of petrol worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">33</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91 </span>billion and LPG worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">45</span> billion, according to the Department of Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19770', 'image' => '20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-01-22 13:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20060', 'article_category_id' => '1', 'title' => 'Isha Build Mart Opens Showroom in Birgunj', 'sub_title' => '', 'summary' => 'With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 24: With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietor, Sandeep Agrawal, stated that the mart has supplies of sanitary ware, tiles, marble, and electrical fittings required for home construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with Agrawal, young entrepreneurs of Birgunj, Anup Agrawal, Dinesh Banka, and Rakesh Sah, have jointly invested for the launch of the showroom. Agrawal mentioned that the aim of the mart is to provide customers with high-quality products at fair prices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietors of the mart said that they have plans to provide technical advice for home construction along with the sale and distribution of other construction materials. </span></span></p> ', 'published' => true, 'created' => '2024-01-24', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19787', 'image' => '20240124062624_collage (17).jpg', 'article_date' => '2024-01-24 06:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20059', 'article_category_id' => '1', 'title' => 'Personal Bank Accounts being Used for Business Transactions for Tax Evasion ', 'sub_title' => '', 'summary' => 'January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the annual report of FIU-Nepal released on Tuesday, the NRB said that personal bank accounts were used instead of business and institutional bank accounts to evade taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its findings, the report stated that 37 per cent of suspicious transaction reports received from January 2020 to December 2022 were related to the suspicious of tax evasion through use of personal bank accounts for business transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On an average, monthly 65 such suspicious transactions were received by FIU-Nepal during this period, the report states. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank, 48 per cent of such business transactions were linked with proprietorship business, 33 per cent with private limited companies and 19 per cent of such firms’ registration status remained unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The nature of such businesses involves trading, manufacturing, hotels and restaurants, travels, medical etc. Multiple personal accounts were found to be used for transaction for a single business. For such transactions, personal accounts of proprietor or shareholder is used in most of the cases. Other involved are: family members, employees," the report revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FIU-Nepal analysed 204 such cases and 113 were disseminated to the Department of Revenue Investigation and Inland Revenue Department for further investigation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Based on disseminated cases, involved suspicious amount is approximately Rs 12 billion on an annual basis," it stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its recommendation, the report has urged all the stakeholders to play active role for harmonization in nature of business and type of account used for the related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The customers are recommended to be aware of types of accounts and their purpose at the time of customer subscribing it. The report further says that business firms and companies need to be made aware regarding use of firm’s or company’s account while conducting business related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the regulators have been urged to impose fines and penalties on use of personal savings account for business-related transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The use of personal bank account for business related transactions should be discouraged through directives, reads the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the investigating agencies are recommended to include the personal accounts of shareholders, promoters, proprietors, key staffers and their close associates while undergoing tax assessment or any other kind of investigation. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19786', 'image' => '20240123100933_Personal-Bank-Account-Opening-in-Dubai.jpg', 'article_date' => '2024-01-23 22:08:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20058', 'article_category_id' => '1', 'title' => 'NEPSE Records Minimal Decline as Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Throughout the trading session, 310 scrips were traded in the NEPSE. As many as 11,801,360 shares exchanged their hands through 117,566 transactions, resulting in a total turnover of Rs 4.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Limited (HRL) led in turnover with a transaction amount of Rs 55 crores, while Chandragiri Hills Limited (CGH) marked the highest gain of 10%, triggering the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In contrast, Mid Solu Hydropower Limited (MSHL) experienced the most significant loss at 6.20%, concluding at a market price of Rs 575 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Regarding sector indices, half of the sectors closed in the red zone, and the remaining half ended in the green territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Remarkably, Hotels and Tourism showed the highest gain at 4.74%, whereas Life Insurance posted the maximum loss at 0.66%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Specific sector indices that ended in the red zone include Banking SubIndex, Hydropower SubIndex, Life Insurance, Manufacturing and Processing, Microfinance Index, and Mutual Fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, the Development Bank Index, Finance Index, Hotels and Tourism Index, Investment Index, Non-Life Index, and Others Index closed positively in the green territory.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19785', 'image' => '20240123041816_collage (16).jpg', 'article_date' => '2024-01-23 16:16:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20056', 'article_category_id' => '1', 'title' => 'Legal and Administrative Hassles Still a Major Deterrent for FDI: Experts', 'sub_title' => '', 'summary' => 'January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by US Education Foundation Nepal to discuss the potential and challenges for investment environment in Nepal, the participants argued that Nepal has failed to pay attention to the investors' will. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also pointed out that legal and administrative hassles, assurance of profit, guarantee of return on investment, availability of feasible projects for FDI, access to market for goods and services among others were the key challenges for bringing in FDI in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Executive Officer (CEO) of the Investment Board of Nepal Sushil Bhatta said that “we don’t have projects to showcase for the investors”.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that facilitation on the part of the Government of Nepal to create enabling environment for investment is still insufficient. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he expressed his regrets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Summit to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. There is immense potential for investment in service sector, high value manufacturing industries, IT sector besides infrastructure development," Bhatta said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former CEO of IBN Radhesh Pant called for responsibility and accountability to bring in more FDI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play a supportive role to create positive environment for welcoming FDI in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19784', 'image' => '20240123023724_FDIII.jpg', 'article_date' => '2024-01-23 14:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20057', 'article_category_id' => '1', 'title' => 'MoFAGA Requests Local Levels to Provide Details of Internal Employment ', 'sub_title' => '', 'summary' => 'January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Monday, the ministry requested the local levels to provide the details of the projects and programs related to job creation implemented in the previous fiscal year. The ministry has instructed the local levels to provide the details within seven days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoFAGA has sought details from the local levels to establish legal and policy framework to conduct 'Domestic Employment Promotion Decade' campaign from fiscal year 2081/82, make domestic employment promotion agencies fully accountable and expand employment-related activities in an integrated manner. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19783', 'image' => '20240123024023_20211215023334_20200315123851_1111.jpg', 'article_date' => '2024-01-23 14:39:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20055', 'article_category_id' => '1', 'title' => 'Businessmen Import Goods under Different Label from Birgunj Dry Port', 'sub_title' => '', 'summary' => 'January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice is being done unabated by big business houses in collusion with high-ranking officials of the Department of Customs and top political party leaders. After the revelation was made, the customs officials are trying to keep this a secret.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Dry Port and customs officials are on high alert after it was found that betel nuts were imported under the label of red lentil and chicken feed. Additionally, scooters were imported in containers labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Officials from the Department of Customs have visited the Birgunj Dry Port several time for inspection. During inspection, it was often found that the declared goods were packed on the surface level and the undeclared goods were often found deep inside the containers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A certain group is involved in sending banned goods concealed in containers with a different label through the green lane.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Goods entering the Dry Port customs are checked in green, yellow and red lanes. The goods coming through the green lane are inspected by the customs officials based on the declaration made by the importer. The yellow lane involves checking of documents. In the red lane, both the documents and goods are checked. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A customs official said that the case is being investigated. “A team from the Department of Customs has come here and is investigating the matter. Everyone involved in this activity will face action," said the official.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice was revealed after the Department of Customs issued a notice on November 26 requesting the importers to take away the containers that had been left stranded in the dry port for years. The department issued the notice stating that it will initiate the process of confiscating the goods that have been stranded in the Dry Port since the past four years if the importers do not come forward to claim the goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In March 2018, the government had banned the import of dried peas, pepper, betel nut, and dates. An official of the Dry Port Customs said that when the banned goods were imported in clollusion between the importers, political party leaders, high-ranking officials of the Department of Customs and Dry Port Customs. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"It is not possible without a setting from the top to the bottom level.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Department of Customs has recently issued letters to the importers whose goods do not match with the customs declaration.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The department has asked half a dozen importers to appear before them within seven days. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a provision in the Customs Act that goods must be cleared from the customs within 60 days of their entry into customs office. If the customs clearance is not done within this time, it can be confiscated. After the customs officials proceeded with the confiscation process of more than 400 containers that were left stranded at the port for years, the malpractice has come to the fore.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">After being transferred to the Dry Port Customs, Chief Customs Officer Dr Ram Prasad Mainali issued this notice. Although the customs officials themselves revealed this malpractice at the beginning, they are now trying to cover up the issue.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The customs officials started to hide information in this case after the former officials of the Dry Port Customs as well as the Department of Customs were dragged into this case. A customs official said that the business houses involved in this are putting pressure on the high-level political parties to settle the case. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Information officer Sushil Sharma, when asked about this matter, did not wish to say anything on the pretext that the case is under investigation. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"Nothing can be said until the investigation is over," said Sharma.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19782', 'image' => '20240123023602_20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2024-01-23 14:35:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20054', 'article_category_id' => '1', 'title' => 'Kathmandu Valley gets First 5-Star Hotel Outside Ring Road', 'sub_title' => '', 'summary' => 'January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. Recently, a five-star hotel named Budhanilkantha Heritage has been brought into operation outside the ring road with investment from an Indian hospitality chain brand.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Budhanilkantha Heritage Limited has started operating the hotel in collaboration with India's hospitality chain brand 'Lemon Tree Premier'. The 'soft launch' of the hotel was held on January 15. Babukaji Karki, the managing director of the hotel, informed that the hotel will be fully operational within a month.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the operation of the hotel was delayed due to the COVID-19 pandemic and the cost has also increased. During this period, the cost increased by Rs 100 million and the total cost reached Rs 2.5 billion rupees. Karki says that the Indian brand 'Lemon Tree Premier' has entered Nepal for the first time. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The hotel is at a distance of 5 km from Maharajganj (ring road) in Kathmandu. Most of the views of the Kathmandu Valley can be observed from the hotel rooms," said Karki. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel operators say that they aim to provide international level hospitality services at nearby locations outside the ring road targeting the guests from Kathmandu who prefer Godavari, Nagarkot and Dhulikhel as their favourite getaway from the busy life of the capital.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Our target customers are domestic. But since Lemon Tree Premier manages more than 120 hotels around the world, foreign tourists also come through this chain," added Karki.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel also plans to offer casino facility. Karki informed that the company has already purchased the land for casino and the service will be started soon. He said that the hotel will also have a health club, spa, seminar hall, banquet, restaurant and wedding ceremony venue. The company has submitted an application to the Department of Tourism for classification as a five-star hotel. The hotel has 102 rooms and 190 beds in 12.5 ropanis of land. There are 57 twin rooms, 33 king rooms, 6 junior suites, 4 business suites and 2 presidential rooms.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19781', 'image' => '20240123014335_buda4-5b26db7c.jpeg', 'article_date' => '2024-01-23 13:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20053', 'article_category_id' => '1', 'title' => 'KMC to Prohibit Roadside Parking in New Road Area ', 'sub_title' => '', 'summary' => 'January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As an alternative to the current parking facility, the KMC has said that it will provide free parking facilities at the Kathmandu Tower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Municipal Police Rajunath Pandey shared that 300 four-wheelers and 700 two-wheelers can be parked at the Kathmandu Tower at a time. The new provision is expected to ease traffic congestion in the major market hub of the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that parking will be prohibited on blacktopped roads in and around Dharmapath, Indrachowk, Khichapokhari, Mahabouddha, and around Bir Hospital. Earlier, a similar prohibition in vehicle parking was imposed by the KMC in Jhonche area. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19780', 'image' => '20240123011840_parking04ment-Esewa.jpg', 'article_date' => '2024-01-23 13:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20052', 'article_category_id' => '1', 'title' => 'Credit Flow to Industrial Sector Increased in Last FY', 'sub_title' => '', 'summary' => 'January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. The record of Nepal Rastra Bank (NRB) shows credit flow to the industrial sector increased in the last fiscal year (FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Annual Economic Activity Report <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span> published by the central bank recently, credit flow to the industries expanded by <span style="font-family:"Arial Unicode MS","sans-serif"">10.8</span> percent in the last fiscal year. Prior to that, credit flow to the industrial sector had declined by <span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> due to liquidity crisis and high interest rates<span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the NRB, banks and financial institutions (BFIs) provided loans worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1387.44</span> billion to the industrial sector in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>. Such loans disbursed in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> amounted to Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1251.96</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">While there has been an improvement in credit flow to the industrial sector, the growth rate of credit to the service sector remained lower than the previous year in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23. </span>The service sector credit increased by <span style="font-family:"Arial Unicode MS","sans-serif"">13.7</span> percent in the fiscal year <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> but increased by only <span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the central bank, out of the total loans disbursed by banks and financial institutions, the share of industrial sector loans is <span style="font-family:"Arial Unicode MS","sans-serif"">28.4</span> percent. In the last fiscal year, the highest credit went to the non-food product manufacturing industry at <span style="font-family:"Arial Unicode MS","sans-serif"">38.99</span> percent. Similarly, <span style="font-family:"Arial Unicode MS","sans-serif"">22.17</span> percent loans were disbursed to the electricity, gas and water related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">19.91</span> percent to the agriculture, forestry and beverage related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">12.81</span> percent to construction related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">5.27</span> percent to metal products, machinery and electronic related industries and <span style="font-family:"Arial Unicode MS","sans-serif"">0.86</span> percent to the mining related industries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among industrial loans, Bagmati Province witnessed the highest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">954.01</span> billion, while Karnali Province saw the lowest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">3.98</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the loans in the service sector, the highest loans were given to the wholesaler and retailer sub-sector at <span style="font-family:"Arial Unicode MS","sans-serif"">50 </span>percent, followed by <span style="font-family:"Arial Unicode MS","sans-serif"">12.2 </span>percent in the real estate sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">10.7 </span>percent in the tourism sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">9.8 </span>percent in the finance, insurance and real estate sub-sector, and <span style="font-family:"Arial Unicode MS","sans-serif"">5.5 </span>percent in the education sub-sector. A total of <span style="font-family:"Arial Unicode MS","sans-serif"">4.9 </span>percent loans were disbursed to the transport, storage and communication sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">3.7 </span>percent to other service sub-sector and <span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span>percent to health and other social work related sub-sector.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19779', 'image' => '20240123122602_indus.jpg', 'article_date' => '2024-01-23 12:24:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20049', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Falls 30 Percent in Everest Region ', 'sub_title' => '', 'summary' => 'January 23: The number of tourists visiting the Everest region has declined this winter.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The number of tourists visiting the Everest region has declined this winter.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Phudoma Sherpa from Khumjung village of Khumbu Pasanglhamu rural municipality-4 in the district is feeling desolate this winter. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the arrival of tourists was normal in the previous years, it is bleak this time, she says. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Last year, tourist influx was normal, but less number of visitors is worrying us this winter," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sagarmatha National Park Office at Namche also confirmed 30 percent fall in arrival of tourists in the Sagarmatha region this winter. Last year, a total of 1,920 tourists had visited the Khumbu area while only 1,329 tourists turned up this year, according to information officer at the Sagarmatha National Park Office, Manoj Kumar Mandal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the total visitors, 455 were domestic tourists while 1,465 were foreigners last year. A total of 120 Nepalis and 1,209 foreigners visited the Khumbu region so far this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, the Khumbu region has turned deserted due to the increasing cold. The National Park Office informed that the dip in mercury level is the reason behind it. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Everest <span style="font-family:"Arial Unicode MS","sans-serif"">region, which is home to the world’s highest peak, bustles with tourists only for six months in a year. The peak season for tourists to visit this region of natural beauty is September, October and November.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the peak season, as many as 1,000 tourists visit the Khumbu region a day, while there are hardly five to seven tourists now, information officer Mandal added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward-4 Chairman Laxman Adhikari said the tourism entrepreneurs are out of business at present. Even the locals have left villages to avoid cold. During the off-season, the locals shift to lowlands to avoid excessive cold.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Area Administration Office, Namche, Sujan Kumari Bardewa, said the places such as Lukla, Namche, and Khumjung now wear a deserted look with limited number of people. Many people go to lower elevation areas to escape unforgiving cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public offices also record negligible number of service seekers, Bardewa added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tilak BK, a teacher at Khumjung Secondary School, says, "As the winter begins, the people here leave for warm places including Kathmandu and some even make pilgrimage to Bodhgaya, India." Most of the people of Khumbu stay in Kathmandu during the winter. – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19776', 'image' => '20240123112749_256058_218722994818098_1370242_o.jpg', 'article_date' => '2024-01-23 11:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20048', 'article_category_id' => '1', 'title' => 'Economy Returning to Normalcy: Minister Mahat', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, Mahat reassured the public of discussions with officials from both Nepal and India concerning the potential reopening of several checkpoints along the Bara district border. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Emphasizing the accelerated efforts to attract investments for the Nijgadh Airport, he urged the public not to doubt the progress of the airport's construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Providing updates on infrastructure projects, Minister Mahat mentioned the nearing completion of the Sunkoshi Marine Diversion Multipurpose Project.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> He expressed confidence that the project's conclusion would significantly enhance irrigation in various districts within the Madhesh region.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a separate visit to Choti Bhansar, a customs office at Simraungadh in the district, Minister Mahat pledged to expedite the opening of the custom point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Mahat inspected the Sanphulawa checkpoint in Swarna rural municipality on the same day, underscoring the government's commitment to enhancing regional connectivity. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19775', 'image' => '20240123062302_collage (14).jpg', 'article_date' => '2024-01-23 06:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20047', 'article_category_id' => '1', 'title' => 'Lumbini Bikas Bank Extends Succour to Sahara Football Academy', 'sub_title' => '', 'summary' => 'Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 22: Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ramchandra Sigdel, a member of the bank's executive committee, handed over a cheque of the financial aid to Keshavraj Baral, the club's president. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund is intended for the nutrition and food expenses of the boys and girls residing in the academy. Currently, the academy accommodates 45 underprivileged and vulnerable children from 15 districts facing challenging circumstances.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sahara Club Pokhara provides care and football training along with education to these children. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19774', 'image' => '20240122045423_collage (24).jpg', 'article_date' => '2024-01-22 16:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20046', 'article_category_id' => '1', 'title' => 'Import of Agricultural Products Declines by Rs 23 Billion', 'sub_title' => '', 'summary' => 'January 22: The import of agricultural products has decreased by Rs 23.3 billion in the first six months of the current fiscal year compared to the corresponding period of last FY.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The import of agricultural products has decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">23</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">3</span> billion in the first six months of the current fiscal year compared to the corresponding period of last FY. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the latest data published by the Department of Customs, the import of agricultural products has decreased in the review period due to the restrictions imposed by India.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The import of food items such as paddy, rice, wheat, ghee, oil, sugar has decreased, while the import of tea, coffee, fruits and nuts has increased. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Analysts say that the price of food grains is likely to increase if the import of the main agricultural products decreases. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Punya Bikram Khadka, information officer of the Department Customs said that the imports of agricultural products into Nepal has decreased due to restrictions imposed by India. According to him, the import has been affected due to the ban imposed by India on the export of various agricultural products including paddy, rice, wheat, onion, sugar. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In addition, he said that imports have also been affected due to recent structural changes in the quarantine centers at the border crossing to Nepal that has caused problems with the customs inspection.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country imported ghee and oil worth <span style="font-family:"Arial Unicode MS","sans-serif"">52</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">1</span> billion in the first six months of the previous fiscal year, but the import value this year stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">34</span> billion. The import of ghee and oil decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">26</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">76</span> billion this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepla had imported food items such as rice, corn and wheat worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">27</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91</span> billion in the first six months of last FY while such items worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">22</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">22</span> billion have been imported this year. Likewise, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">2.31</span> billion was imported in the first six months of last year, but in the same period of the current year, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1.93</span> billion was imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Khadka said that if the import of the main agricultural produce decreases, the market price of those products may also be affected. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Our market policy seems to be very weak. From the very next day after the news of decline in imports comes out, there is an artificial shortages of goods in the market and price increases. Therefore, it cannot be said that it will not happen again,” he told New Business Age.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19773', 'image' => '20240122032824_20231226122800_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2024-01-22 15:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20044', 'article_category_id' => '1', 'title' => 'Major Survey for Petroleum Exploration in Dailekh Reports 80 Percent Progress ', 'sub_title' => '', 'summary' => 'January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to project chief of the Department of Mines and Geology, Dinesh Kumar Napit, studies so far suggest that Dailekh could be a major source of petroleum products and natural gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The final drilling that will go underground up to four kilometers will be vital in determining the available volume of petro products. The drilling is assisted by a giant machine brought from China, according to Napit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploration is underway here since September-October, 2019. It is jointly carried out by the Department of Mines and Geology under the Government of Nepal and China-based Geological Survey at the cost of Rs 2.40 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19772', 'image' => '20240122023324_explore.jpg', 'article_date' => '2024-01-22 14:28:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20043', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Almost Seven Hundred Billion Rupees in Six Months', 'sub_title' => '', 'summary' => 'January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year. According to the data published by the Department of Customs, Nepal’s trade deficit stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">693</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">19</span> billion as of mid-January. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of the department, the transaction amount of Nepal’s foreign trade was Rs 843.13 in <span style="font-family:"Arial Unicode MS","sans-serif"">6</span> months of current fiscal years. It includes Rs <span style="font-family:"Arial Unicode MS","sans-serif"">768</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">16</span> billion spent on imports and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">74</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion earned from exports.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, the country’s imports have declined by <span style="font-family:"Arial Unicode MS","sans-serif"">3.09</span> percent and export by <span style="font-family:"Arial Unicode MS","sans-serif"">7.23</span> percent in the first six months of the current FY compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Overall, foreign trade decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">3.47</span> percent, while the trade deficit decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">2.62</span> percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal incurred the maximum trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">424</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion with India alone. In the first six months of current FY, Nepal imported goods worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">474</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">89</span> billion from India while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">50</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion. After India, Nepal incurred high trade deficit with four countries including China, the United Arab Emirates, Ukraine and Malaysia.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By mid-January, Nepal had a trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">145</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">79</span> billion China, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">12</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">26</span> billion with the United Arab Emirates, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">9</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion with Ukraine and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif""> 6</span> billion with Malaysia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal recorded the highest trade surplus with the United States of America.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the six months of the current fiscal year, Nepal imported goods and services worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">7</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">63</span> billion from the USA while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">33</span> billion. In other words, Nepal had a trade surplus of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">736</span> million with the USA.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal mostly imported petroleum products. The country imported diesel worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">66</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">49 </span>billion by mid-January, followed by imports of petrol worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">33</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91 </span>billion and LPG worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">45</span> billion, according to the Department of Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19770', 'image' => '20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-01-22 13:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20060', 'article_category_id' => '1', 'title' => 'Isha Build Mart Opens Showroom in Birgunj', 'sub_title' => '', 'summary' => 'With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 24: With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietor, Sandeep Agrawal, stated that the mart has supplies of sanitary ware, tiles, marble, and electrical fittings required for home construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with Agrawal, young entrepreneurs of Birgunj, Anup Agrawal, Dinesh Banka, and Rakesh Sah, have jointly invested for the launch of the showroom. Agrawal mentioned that the aim of the mart is to provide customers with high-quality products at fair prices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietors of the mart said that they have plans to provide technical advice for home construction along with the sale and distribution of other construction materials. </span></span></p> ', 'published' => true, 'created' => '2024-01-24', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19787', 'image' => '20240124062624_collage (17).jpg', 'article_date' => '2024-01-24 06:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20059', 'article_category_id' => '1', 'title' => 'Personal Bank Accounts being Used for Business Transactions for Tax Evasion ', 'sub_title' => '', 'summary' => 'January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the annual report of FIU-Nepal released on Tuesday, the NRB said that personal bank accounts were used instead of business and institutional bank accounts to evade taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its findings, the report stated that 37 per cent of suspicious transaction reports received from January 2020 to December 2022 were related to the suspicious of tax evasion through use of personal bank accounts for business transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On an average, monthly 65 such suspicious transactions were received by FIU-Nepal during this period, the report states. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank, 48 per cent of such business transactions were linked with proprietorship business, 33 per cent with private limited companies and 19 per cent of such firms’ registration status remained unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The nature of such businesses involves trading, manufacturing, hotels and restaurants, travels, medical etc. Multiple personal accounts were found to be used for transaction for a single business. For such transactions, personal accounts of proprietor or shareholder is used in most of the cases. Other involved are: family members, employees," the report revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FIU-Nepal analysed 204 such cases and 113 were disseminated to the Department of Revenue Investigation and Inland Revenue Department for further investigation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Based on disseminated cases, involved suspicious amount is approximately Rs 12 billion on an annual basis," it stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its recommendation, the report has urged all the stakeholders to play active role for harmonization in nature of business and type of account used for the related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The customers are recommended to be aware of types of accounts and their purpose at the time of customer subscribing it. The report further says that business firms and companies need to be made aware regarding use of firm’s or company’s account while conducting business related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the regulators have been urged to impose fines and penalties on use of personal savings account for business-related transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The use of personal bank account for business related transactions should be discouraged through directives, reads the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the investigating agencies are recommended to include the personal accounts of shareholders, promoters, proprietors, key staffers and their close associates while undergoing tax assessment or any other kind of investigation. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19786', 'image' => '20240123100933_Personal-Bank-Account-Opening-in-Dubai.jpg', 'article_date' => '2024-01-23 22:08:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20058', 'article_category_id' => '1', 'title' => 'NEPSE Records Minimal Decline as Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Throughout the trading session, 310 scrips were traded in the NEPSE. As many as 11,801,360 shares exchanged their hands through 117,566 transactions, resulting in a total turnover of Rs 4.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Limited (HRL) led in turnover with a transaction amount of Rs 55 crores, while Chandragiri Hills Limited (CGH) marked the highest gain of 10%, triggering the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In contrast, Mid Solu Hydropower Limited (MSHL) experienced the most significant loss at 6.20%, concluding at a market price of Rs 575 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Regarding sector indices, half of the sectors closed in the red zone, and the remaining half ended in the green territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Remarkably, Hotels and Tourism showed the highest gain at 4.74%, whereas Life Insurance posted the maximum loss at 0.66%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Specific sector indices that ended in the red zone include Banking SubIndex, Hydropower SubIndex, Life Insurance, Manufacturing and Processing, Microfinance Index, and Mutual Fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, the Development Bank Index, Finance Index, Hotels and Tourism Index, Investment Index, Non-Life Index, and Others Index closed positively in the green territory.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19785', 'image' => '20240123041816_collage (16).jpg', 'article_date' => '2024-01-23 16:16:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20056', 'article_category_id' => '1', 'title' => 'Legal and Administrative Hassles Still a Major Deterrent for FDI: Experts', 'sub_title' => '', 'summary' => 'January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by US Education Foundation Nepal to discuss the potential and challenges for investment environment in Nepal, the participants argued that Nepal has failed to pay attention to the investors' will. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also pointed out that legal and administrative hassles, assurance of profit, guarantee of return on investment, availability of feasible projects for FDI, access to market for goods and services among others were the key challenges for bringing in FDI in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Executive Officer (CEO) of the Investment Board of Nepal Sushil Bhatta said that “we don’t have projects to showcase for the investors”.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that facilitation on the part of the Government of Nepal to create enabling environment for investment is still insufficient. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he expressed his regrets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Summit to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. There is immense potential for investment in service sector, high value manufacturing industries, IT sector besides infrastructure development," Bhatta said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former CEO of IBN Radhesh Pant called for responsibility and accountability to bring in more FDI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play a supportive role to create positive environment for welcoming FDI in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19784', 'image' => '20240123023724_FDIII.jpg', 'article_date' => '2024-01-23 14:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20057', 'article_category_id' => '1', 'title' => 'MoFAGA Requests Local Levels to Provide Details of Internal Employment ', 'sub_title' => '', 'summary' => 'January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Monday, the ministry requested the local levels to provide the details of the projects and programs related to job creation implemented in the previous fiscal year. The ministry has instructed the local levels to provide the details within seven days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoFAGA has sought details from the local levels to establish legal and policy framework to conduct 'Domestic Employment Promotion Decade' campaign from fiscal year 2081/82, make domestic employment promotion agencies fully accountable and expand employment-related activities in an integrated manner. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19783', 'image' => '20240123024023_20211215023334_20200315123851_1111.jpg', 'article_date' => '2024-01-23 14:39:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20055', 'article_category_id' => '1', 'title' => 'Businessmen Import Goods under Different Label from Birgunj Dry Port', 'sub_title' => '', 'summary' => 'January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice is being done unabated by big business houses in collusion with high-ranking officials of the Department of Customs and top political party leaders. After the revelation was made, the customs officials are trying to keep this a secret.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Dry Port and customs officials are on high alert after it was found that betel nuts were imported under the label of red lentil and chicken feed. Additionally, scooters were imported in containers labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Officials from the Department of Customs have visited the Birgunj Dry Port several time for inspection. During inspection, it was often found that the declared goods were packed on the surface level and the undeclared goods were often found deep inside the containers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A certain group is involved in sending banned goods concealed in containers with a different label through the green lane.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Goods entering the Dry Port customs are checked in green, yellow and red lanes. The goods coming through the green lane are inspected by the customs officials based on the declaration made by the importer. The yellow lane involves checking of documents. In the red lane, both the documents and goods are checked. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A customs official said that the case is being investigated. “A team from the Department of Customs has come here and is investigating the matter. Everyone involved in this activity will face action," said the official.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice was revealed after the Department of Customs issued a notice on November 26 requesting the importers to take away the containers that had been left stranded in the dry port for years. The department issued the notice stating that it will initiate the process of confiscating the goods that have been stranded in the Dry Port since the past four years if the importers do not come forward to claim the goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In March 2018, the government had banned the import of dried peas, pepper, betel nut, and dates. An official of the Dry Port Customs said that when the banned goods were imported in clollusion between the importers, political party leaders, high-ranking officials of the Department of Customs and Dry Port Customs. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"It is not possible without a setting from the top to the bottom level.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Department of Customs has recently issued letters to the importers whose goods do not match with the customs declaration.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The department has asked half a dozen importers to appear before them within seven days. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a provision in the Customs Act that goods must be cleared from the customs within 60 days of their entry into customs office. If the customs clearance is not done within this time, it can be confiscated. After the customs officials proceeded with the confiscation process of more than 400 containers that were left stranded at the port for years, the malpractice has come to the fore.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">After being transferred to the Dry Port Customs, Chief Customs Officer Dr Ram Prasad Mainali issued this notice. Although the customs officials themselves revealed this malpractice at the beginning, they are now trying to cover up the issue.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The customs officials started to hide information in this case after the former officials of the Dry Port Customs as well as the Department of Customs were dragged into this case. A customs official said that the business houses involved in this are putting pressure on the high-level political parties to settle the case. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Information officer Sushil Sharma, when asked about this matter, did not wish to say anything on the pretext that the case is under investigation. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"Nothing can be said until the investigation is over," said Sharma.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19782', 'image' => '20240123023602_20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2024-01-23 14:35:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20054', 'article_category_id' => '1', 'title' => 'Kathmandu Valley gets First 5-Star Hotel Outside Ring Road', 'sub_title' => '', 'summary' => 'January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. Recently, a five-star hotel named Budhanilkantha Heritage has been brought into operation outside the ring road with investment from an Indian hospitality chain brand.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Budhanilkantha Heritage Limited has started operating the hotel in collaboration with India's hospitality chain brand 'Lemon Tree Premier'. The 'soft launch' of the hotel was held on January 15. Babukaji Karki, the managing director of the hotel, informed that the hotel will be fully operational within a month.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the operation of the hotel was delayed due to the COVID-19 pandemic and the cost has also increased. During this period, the cost increased by Rs 100 million and the total cost reached Rs 2.5 billion rupees. Karki says that the Indian brand 'Lemon Tree Premier' has entered Nepal for the first time. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The hotel is at a distance of 5 km from Maharajganj (ring road) in Kathmandu. Most of the views of the Kathmandu Valley can be observed from the hotel rooms," said Karki. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel operators say that they aim to provide international level hospitality services at nearby locations outside the ring road targeting the guests from Kathmandu who prefer Godavari, Nagarkot and Dhulikhel as their favourite getaway from the busy life of the capital.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Our target customers are domestic. But since Lemon Tree Premier manages more than 120 hotels around the world, foreign tourists also come through this chain," added Karki.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel also plans to offer casino facility. Karki informed that the company has already purchased the land for casino and the service will be started soon. He said that the hotel will also have a health club, spa, seminar hall, banquet, restaurant and wedding ceremony venue. The company has submitted an application to the Department of Tourism for classification as a five-star hotel. The hotel has 102 rooms and 190 beds in 12.5 ropanis of land. There are 57 twin rooms, 33 king rooms, 6 junior suites, 4 business suites and 2 presidential rooms.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19781', 'image' => '20240123014335_buda4-5b26db7c.jpeg', 'article_date' => '2024-01-23 13:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20053', 'article_category_id' => '1', 'title' => 'KMC to Prohibit Roadside Parking in New Road Area ', 'sub_title' => '', 'summary' => 'January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As an alternative to the current parking facility, the KMC has said that it will provide free parking facilities at the Kathmandu Tower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Municipal Police Rajunath Pandey shared that 300 four-wheelers and 700 two-wheelers can be parked at the Kathmandu Tower at a time. The new provision is expected to ease traffic congestion in the major market hub of the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that parking will be prohibited on blacktopped roads in and around Dharmapath, Indrachowk, Khichapokhari, Mahabouddha, and around Bir Hospital. Earlier, a similar prohibition in vehicle parking was imposed by the KMC in Jhonche area. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19780', 'image' => '20240123011840_parking04ment-Esewa.jpg', 'article_date' => '2024-01-23 13:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20052', 'article_category_id' => '1', 'title' => 'Credit Flow to Industrial Sector Increased in Last FY', 'sub_title' => '', 'summary' => 'January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. The record of Nepal Rastra Bank (NRB) shows credit flow to the industrial sector increased in the last fiscal year (FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Annual Economic Activity Report <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span> published by the central bank recently, credit flow to the industries expanded by <span style="font-family:"Arial Unicode MS","sans-serif"">10.8</span> percent in the last fiscal year. Prior to that, credit flow to the industrial sector had declined by <span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> due to liquidity crisis and high interest rates<span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the NRB, banks and financial institutions (BFIs) provided loans worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1387.44</span> billion to the industrial sector in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>. Such loans disbursed in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> amounted to Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1251.96</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">While there has been an improvement in credit flow to the industrial sector, the growth rate of credit to the service sector remained lower than the previous year in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23. </span>The service sector credit increased by <span style="font-family:"Arial Unicode MS","sans-serif"">13.7</span> percent in the fiscal year <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> but increased by only <span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the central bank, out of the total loans disbursed by banks and financial institutions, the share of industrial sector loans is <span style="font-family:"Arial Unicode MS","sans-serif"">28.4</span> percent. In the last fiscal year, the highest credit went to the non-food product manufacturing industry at <span style="font-family:"Arial Unicode MS","sans-serif"">38.99</span> percent. Similarly, <span style="font-family:"Arial Unicode MS","sans-serif"">22.17</span> percent loans were disbursed to the electricity, gas and water related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">19.91</span> percent to the agriculture, forestry and beverage related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">12.81</span> percent to construction related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">5.27</span> percent to metal products, machinery and electronic related industries and <span style="font-family:"Arial Unicode MS","sans-serif"">0.86</span> percent to the mining related industries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among industrial loans, Bagmati Province witnessed the highest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">954.01</span> billion, while Karnali Province saw the lowest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">3.98</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the loans in the service sector, the highest loans were given to the wholesaler and retailer sub-sector at <span style="font-family:"Arial Unicode MS","sans-serif"">50 </span>percent, followed by <span style="font-family:"Arial Unicode MS","sans-serif"">12.2 </span>percent in the real estate sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">10.7 </span>percent in the tourism sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">9.8 </span>percent in the finance, insurance and real estate sub-sector, and <span style="font-family:"Arial Unicode MS","sans-serif"">5.5 </span>percent in the education sub-sector. A total of <span style="font-family:"Arial Unicode MS","sans-serif"">4.9 </span>percent loans were disbursed to the transport, storage and communication sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">3.7 </span>percent to other service sub-sector and <span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span>percent to health and other social work related sub-sector.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19779', 'image' => '20240123122602_indus.jpg', 'article_date' => '2024-01-23 12:24:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20049', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Falls 30 Percent in Everest Region ', 'sub_title' => '', 'summary' => 'January 23: The number of tourists visiting the Everest region has declined this winter.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The number of tourists visiting the Everest region has declined this winter.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Phudoma Sherpa from Khumjung village of Khumbu Pasanglhamu rural municipality-4 in the district is feeling desolate this winter. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the arrival of tourists was normal in the previous years, it is bleak this time, she says. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Last year, tourist influx was normal, but less number of visitors is worrying us this winter," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sagarmatha National Park Office at Namche also confirmed 30 percent fall in arrival of tourists in the Sagarmatha region this winter. Last year, a total of 1,920 tourists had visited the Khumbu area while only 1,329 tourists turned up this year, according to information officer at the Sagarmatha National Park Office, Manoj Kumar Mandal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the total visitors, 455 were domestic tourists while 1,465 were foreigners last year. A total of 120 Nepalis and 1,209 foreigners visited the Khumbu region so far this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, the Khumbu region has turned deserted due to the increasing cold. The National Park Office informed that the dip in mercury level is the reason behind it. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Everest <span style="font-family:"Arial Unicode MS","sans-serif"">region, which is home to the world’s highest peak, bustles with tourists only for six months in a year. The peak season for tourists to visit this region of natural beauty is September, October and November.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the peak season, as many as 1,000 tourists visit the Khumbu region a day, while there are hardly five to seven tourists now, information officer Mandal added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward-4 Chairman Laxman Adhikari said the tourism entrepreneurs are out of business at present. Even the locals have left villages to avoid cold. During the off-season, the locals shift to lowlands to avoid excessive cold.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Area Administration Office, Namche, Sujan Kumari Bardewa, said the places such as Lukla, Namche, and Khumjung now wear a deserted look with limited number of people. Many people go to lower elevation areas to escape unforgiving cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public offices also record negligible number of service seekers, Bardewa added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tilak BK, a teacher at Khumjung Secondary School, says, "As the winter begins, the people here leave for warm places including Kathmandu and some even make pilgrimage to Bodhgaya, India." Most of the people of Khumbu stay in Kathmandu during the winter. – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19776', 'image' => '20240123112749_256058_218722994818098_1370242_o.jpg', 'article_date' => '2024-01-23 11:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20048', 'article_category_id' => '1', 'title' => 'Economy Returning to Normalcy: Minister Mahat', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, Mahat reassured the public of discussions with officials from both Nepal and India concerning the potential reopening of several checkpoints along the Bara district border. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Emphasizing the accelerated efforts to attract investments for the Nijgadh Airport, he urged the public not to doubt the progress of the airport's construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Providing updates on infrastructure projects, Minister Mahat mentioned the nearing completion of the Sunkoshi Marine Diversion Multipurpose Project.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> He expressed confidence that the project's conclusion would significantly enhance irrigation in various districts within the Madhesh region.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a separate visit to Choti Bhansar, a customs office at Simraungadh in the district, Minister Mahat pledged to expedite the opening of the custom point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Mahat inspected the Sanphulawa checkpoint in Swarna rural municipality on the same day, underscoring the government's commitment to enhancing regional connectivity. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19775', 'image' => '20240123062302_collage (14).jpg', 'article_date' => '2024-01-23 06:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20047', 'article_category_id' => '1', 'title' => 'Lumbini Bikas Bank Extends Succour to Sahara Football Academy', 'sub_title' => '', 'summary' => 'Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 22: Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ramchandra Sigdel, a member of the bank's executive committee, handed over a cheque of the financial aid to Keshavraj Baral, the club's president. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund is intended for the nutrition and food expenses of the boys and girls residing in the academy. Currently, the academy accommodates 45 underprivileged and vulnerable children from 15 districts facing challenging circumstances.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sahara Club Pokhara provides care and football training along with education to these children. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19774', 'image' => '20240122045423_collage (24).jpg', 'article_date' => '2024-01-22 16:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20046', 'article_category_id' => '1', 'title' => 'Import of Agricultural Products Declines by Rs 23 Billion', 'sub_title' => '', 'summary' => 'January 22: The import of agricultural products has decreased by Rs 23.3 billion in the first six months of the current fiscal year compared to the corresponding period of last FY.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The import of agricultural products has decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">23</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">3</span> billion in the first six months of the current fiscal year compared to the corresponding period of last FY. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the latest data published by the Department of Customs, the import of agricultural products has decreased in the review period due to the restrictions imposed by India.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The import of food items such as paddy, rice, wheat, ghee, oil, sugar has decreased, while the import of tea, coffee, fruits and nuts has increased. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Analysts say that the price of food grains is likely to increase if the import of the main agricultural products decreases. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Punya Bikram Khadka, information officer of the Department Customs said that the imports of agricultural products into Nepal has decreased due to restrictions imposed by India. According to him, the import has been affected due to the ban imposed by India on the export of various agricultural products including paddy, rice, wheat, onion, sugar. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In addition, he said that imports have also been affected due to recent structural changes in the quarantine centers at the border crossing to Nepal that has caused problems with the customs inspection.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country imported ghee and oil worth <span style="font-family:"Arial Unicode MS","sans-serif"">52</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">1</span> billion in the first six months of the previous fiscal year, but the import value this year stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">34</span> billion. The import of ghee and oil decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">26</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">76</span> billion this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepla had imported food items such as rice, corn and wheat worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">27</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91</span> billion in the first six months of last FY while such items worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">22</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">22</span> billion have been imported this year. Likewise, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">2.31</span> billion was imported in the first six months of last year, but in the same period of the current year, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1.93</span> billion was imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Khadka said that if the import of the main agricultural produce decreases, the market price of those products may also be affected. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Our market policy seems to be very weak. From the very next day after the news of decline in imports comes out, there is an artificial shortages of goods in the market and price increases. Therefore, it cannot be said that it will not happen again,” he told New Business Age.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19773', 'image' => '20240122032824_20231226122800_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2024-01-22 15:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20044', 'article_category_id' => '1', 'title' => 'Major Survey for Petroleum Exploration in Dailekh Reports 80 Percent Progress ', 'sub_title' => '', 'summary' => 'January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to project chief of the Department of Mines and Geology, Dinesh Kumar Napit, studies so far suggest that Dailekh could be a major source of petroleum products and natural gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The final drilling that will go underground up to four kilometers will be vital in determining the available volume of petro products. The drilling is assisted by a giant machine brought from China, according to Napit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploration is underway here since September-October, 2019. It is jointly carried out by the Department of Mines and Geology under the Government of Nepal and China-based Geological Survey at the cost of Rs 2.40 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19772', 'image' => '20240122023324_explore.jpg', 'article_date' => '2024-01-22 14:28:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20043', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Almost Seven Hundred Billion Rupees in Six Months', 'sub_title' => '', 'summary' => 'January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year. According to the data published by the Department of Customs, Nepal’s trade deficit stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">693</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">19</span> billion as of mid-January. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of the department, the transaction amount of Nepal’s foreign trade was Rs 843.13 in <span style="font-family:"Arial Unicode MS","sans-serif"">6</span> months of current fiscal years. It includes Rs <span style="font-family:"Arial Unicode MS","sans-serif"">768</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">16</span> billion spent on imports and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">74</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion earned from exports.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, the country’s imports have declined by <span style="font-family:"Arial Unicode MS","sans-serif"">3.09</span> percent and export by <span style="font-family:"Arial Unicode MS","sans-serif"">7.23</span> percent in the first six months of the current FY compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Overall, foreign trade decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">3.47</span> percent, while the trade deficit decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">2.62</span> percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal incurred the maximum trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">424</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion with India alone. In the first six months of current FY, Nepal imported goods worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">474</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">89</span> billion from India while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">50</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion. After India, Nepal incurred high trade deficit with four countries including China, the United Arab Emirates, Ukraine and Malaysia.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By mid-January, Nepal had a trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">145</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">79</span> billion China, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">12</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">26</span> billion with the United Arab Emirates, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">9</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion with Ukraine and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif""> 6</span> billion with Malaysia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal recorded the highest trade surplus with the United States of America.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the six months of the current fiscal year, Nepal imported goods and services worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">7</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">63</span> billion from the USA while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">33</span> billion. In other words, Nepal had a trade surplus of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">736</span> million with the USA.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal mostly imported petroleum products. The country imported diesel worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">66</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">49 </span>billion by mid-January, followed by imports of petrol worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">33</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91 </span>billion and LPG worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">45</span> billion, according to the Department of Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19770', 'image' => '20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-01-22 13:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 24: With the objective of making essential construction materials easily accessible under one roof, Isha Build Mart has come into operation on Link Road in Birgunj. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Birgunj Metropolitan City, Rajeshman Singh inaugurated the mart’s showroom on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietor, Sandeep Agrawal, stated that the mart has supplies of sanitary ware, tiles, marble, and electrical fittings required for home construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with Agrawal, young entrepreneurs of Birgunj, Anup Agrawal, Dinesh Banka, and Rakesh Sah, have jointly invested for the launch of the showroom. Agrawal mentioned that the aim of the mart is to provide customers with high-quality products at fair prices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Proprietors of the mart said that they have plans to provide technical advice for home construction along with the sale and distribution of other construction materials. </span></span></p> ', 'published' => true, 'created' => '2024-01-24', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19787', 'image' => '20240124062624_collage (17).jpg', 'article_date' => '2024-01-24 06:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20059', 'article_category_id' => '1', 'title' => 'Personal Bank Accounts being Used for Business Transactions for Tax Evasion ', 'sub_title' => '', 'summary' => 'January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The trend of using personal bank accounts for business transactions to evade taxes is on the rise in the country as evidenced by the number of such cases reported to the Financial Intelligence Unit (FIU-Nepal) of Nepal Rastra Bank (NRB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the annual report of FIU-Nepal released on Tuesday, the NRB said that personal bank accounts were used instead of business and institutional bank accounts to evade taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its findings, the report stated that 37 per cent of suspicious transaction reports received from January 2020 to December 2022 were related to the suspicious of tax evasion through use of personal bank accounts for business transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On an average, monthly 65 such suspicious transactions were received by FIU-Nepal during this period, the report states. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank, 48 per cent of such business transactions were linked with proprietorship business, 33 per cent with private limited companies and 19 per cent of such firms’ registration status remained unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The nature of such businesses involves trading, manufacturing, hotels and restaurants, travels, medical etc. Multiple personal accounts were found to be used for transaction for a single business. For such transactions, personal accounts of proprietor or shareholder is used in most of the cases. Other involved are: family members, employees," the report revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FIU-Nepal analysed 204 such cases and 113 were disseminated to the Department of Revenue Investigation and Inland Revenue Department for further investigation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Based on disseminated cases, involved suspicious amount is approximately Rs 12 billion on an annual basis," it stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In its recommendation, the report has urged all the stakeholders to play active role for harmonization in nature of business and type of account used for the related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The customers are recommended to be aware of types of accounts and their purpose at the time of customer subscribing it. The report further says that business firms and companies need to be made aware regarding use of firm’s or company’s account while conducting business related transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the regulators have been urged to impose fines and penalties on use of personal savings account for business-related transactions. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The use of personal bank account for business related transactions should be discouraged through directives, reads the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the investigating agencies are recommended to include the personal accounts of shareholders, promoters, proprietors, key staffers and their close associates while undergoing tax assessment or any other kind of investigation. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19786', 'image' => '20240123100933_Personal-Bank-Account-Opening-in-Dubai.jpg', 'article_date' => '2024-01-23 22:08:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20058', 'article_category_id' => '1', 'title' => 'NEPSE Records Minimal Decline as Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: The Nepal Stock Exchange (NEPSE) observed a slight dip, recording a marginal loss of 0.04 points or 0.01%, ultimately closing at 2098.29 points on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Throughout the trading session, 310 scrips were traded in the NEPSE. As many as 11,801,360 shares exchanged their hands through 117,566 transactions, resulting in a total turnover of Rs 4.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Limited (HRL) led in turnover with a transaction amount of Rs 55 crores, while Chandragiri Hills Limited (CGH) marked the highest gain of 10%, triggering the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In contrast, Mid Solu Hydropower Limited (MSHL) experienced the most significant loss at 6.20%, concluding at a market price of Rs 575 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Regarding sector indices, half of the sectors closed in the red zone, and the remaining half ended in the green territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Remarkably, Hotels and Tourism showed the highest gain at 4.74%, whereas Life Insurance posted the maximum loss at 0.66%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Specific sector indices that ended in the red zone include Banking SubIndex, Hydropower SubIndex, Life Insurance, Manufacturing and Processing, Microfinance Index, and Mutual Fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, the Development Bank Index, Finance Index, Hotels and Tourism Index, Investment Index, Non-Life Index, and Others Index closed positively in the green territory.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19785', 'image' => '20240123041816_collage (16).jpg', 'article_date' => '2024-01-23 16:16:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20056', 'article_category_id' => '1', 'title' => 'Legal and Administrative Hassles Still a Major Deterrent for FDI: Experts', 'sub_title' => '', 'summary' => 'January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by US Education Foundation Nepal to discuss the potential and challenges for investment environment in Nepal, the participants argued that Nepal has failed to pay attention to the investors' will. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also pointed out that legal and administrative hassles, assurance of profit, guarantee of return on investment, availability of feasible projects for FDI, access to market for goods and services among others were the key challenges for bringing in FDI in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Executive Officer (CEO) of the Investment Board of Nepal Sushil Bhatta said that “we don’t have projects to showcase for the investors”.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that facilitation on the part of the Government of Nepal to create enabling environment for investment is still insufficient. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he expressed his regrets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Summit to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. There is immense potential for investment in service sector, high value manufacturing industries, IT sector besides infrastructure development," Bhatta said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former CEO of IBN Radhesh Pant called for responsibility and accountability to bring in more FDI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play a supportive role to create positive environment for welcoming FDI in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19784', 'image' => '20240123023724_FDIII.jpg', 'article_date' => '2024-01-23 14:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20057', 'article_category_id' => '1', 'title' => 'MoFAGA Requests Local Levels to Provide Details of Internal Employment ', 'sub_title' => '', 'summary' => 'January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The Ministry of Federal Affairs and General Administration has requested all local levels to provide details of internal employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Monday, the ministry requested the local levels to provide the details of the projects and programs related to job creation implemented in the previous fiscal year. The ministry has instructed the local levels to provide the details within seven days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoFAGA has sought details from the local levels to establish legal and policy framework to conduct 'Domestic Employment Promotion Decade' campaign from fiscal year 2081/82, make domestic employment promotion agencies fully accountable and expand employment-related activities in an integrated manner. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '19783', 'image' => '20240123024023_20211215023334_20200315123851_1111.jpg', 'article_date' => '2024-01-23 14:39:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20055', 'article_category_id' => '1', 'title' => 'Businessmen Import Goods under Different Label from Birgunj Dry Port', 'sub_title' => '', 'summary' => 'January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">January 23: Businessmen have been found importing goods with a different label through the Birgunj Dry Port.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice is being done unabated by big business houses in collusion with high-ranking officials of the Department of Customs and top political party leaders. After the revelation was made, the customs officials are trying to keep this a secret.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Dry Port and customs officials are on high alert after it was found that betel nuts were imported under the label of red lentil and chicken feed. Additionally, scooters were imported in containers labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Officials from the Department of Customs have visited the Birgunj Dry Port several time for inspection. During inspection, it was often found that the declared goods were packed on the surface level and the undeclared goods were often found deep inside the containers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A certain group is involved in sending banned goods concealed in containers with a different label through the green lane.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Goods entering the Dry Port customs are checked in green, yellow and red lanes. The goods coming through the green lane are inspected by the customs officials based on the declaration made by the importer. The yellow lane involves checking of documents. In the red lane, both the documents and goods are checked. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">A customs official said that the case is being investigated. “A team from the Department of Customs has come here and is investigating the matter. Everyone involved in this activity will face action," said the official.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">This malpractice was revealed after the Department of Customs issued a notice on November 26 requesting the importers to take away the containers that had been left stranded in the dry port for years. The department issued the notice stating that it will initiate the process of confiscating the goods that have been stranded in the Dry Port since the past four years if the importers do not come forward to claim the goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In March 2018, the government had banned the import of dried peas, pepper, betel nut, and dates. An official of the Dry Port Customs said that when the banned goods were imported in clollusion between the importers, political party leaders, high-ranking officials of the Department of Customs and Dry Port Customs. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"It is not possible without a setting from the top to the bottom level.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The Department of Customs has recently issued letters to the importers whose goods do not match with the customs declaration.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The department has asked half a dozen importers to appear before them within seven days. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a provision in the Customs Act that goods must be cleared from the customs within 60 days of their entry into customs office. If the customs clearance is not done within this time, it can be confiscated. After the customs officials proceeded with the confiscation process of more than 400 containers that were left stranded at the port for years, the malpractice has come to the fore.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">After being transferred to the Dry Port Customs, Chief Customs Officer Dr Ram Prasad Mainali issued this notice. Although the customs officials themselves revealed this malpractice at the beginning, they are now trying to cover up the issue.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The customs officials started to hide information in this case after the former officials of the Dry Port Customs as well as the Department of Customs were dragged into this case. A customs official said that the business houses involved in this are putting pressure on the high-level political parties to settle the case. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Information officer Sushil Sharma, when asked about this matter, did not wish to say anything on the pretext that the case is under investigation. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"Nothing can be said until the investigation is over," said Sharma.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19782', 'image' => '20240123023602_20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2024-01-23 14:35:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20054', 'article_category_id' => '1', 'title' => 'Kathmandu Valley gets First 5-Star Hotel Outside Ring Road', 'sub_title' => '', 'summary' => 'January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: Most of the five-star hotels currently operating in Kathmandu Valley are within the ring road. Recently, a five-star hotel named Budhanilkantha Heritage has been brought into operation outside the ring road with investment from an Indian hospitality chain brand.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Budhanilkantha Heritage Limited has started operating the hotel in collaboration with India's hospitality chain brand 'Lemon Tree Premier'. The 'soft launch' of the hotel was held on January 15. Babukaji Karki, the managing director of the hotel, informed that the hotel will be fully operational within a month.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the operation of the hotel was delayed due to the COVID-19 pandemic and the cost has also increased. During this period, the cost increased by Rs 100 million and the total cost reached Rs 2.5 billion rupees. Karki says that the Indian brand 'Lemon Tree Premier' has entered Nepal for the first time. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The hotel is at a distance of 5 km from Maharajganj (ring road) in Kathmandu. Most of the views of the Kathmandu Valley can be observed from the hotel rooms," said Karki. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel operators say that they aim to provide international level hospitality services at nearby locations outside the ring road targeting the guests from Kathmandu who prefer Godavari, Nagarkot and Dhulikhel as their favourite getaway from the busy life of the capital.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Our target customers are domestic. But since Lemon Tree Premier manages more than 120 hotels around the world, foreign tourists also come through this chain," added Karki.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The hotel also plans to offer casino facility. Karki informed that the company has already purchased the land for casino and the service will be started soon. He said that the hotel will also have a health club, spa, seminar hall, banquet, restaurant and wedding ceremony venue. The company has submitted an application to the Department of Tourism for classification as a five-star hotel. The hotel has 102 rooms and 190 beds in 12.5 ropanis of land. There are 57 twin rooms, 33 king rooms, 6 junior suites, 4 business suites and 2 presidential rooms.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19781', 'image' => '20240123014335_buda4-5b26db7c.jpeg', 'article_date' => '2024-01-23 13:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20053', 'article_category_id' => '1', 'title' => 'KMC to Prohibit Roadside Parking in New Road Area ', 'sub_title' => '', 'summary' => 'January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: Kathmandu Metropolitan City (KMC) has decided to ban parking of vehicles on the roadside in New Road area from Tuesday (today). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As an alternative to the current parking facility, the KMC has said that it will provide free parking facilities at the Kathmandu Tower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Municipal Police Rajunath Pandey shared that 300 four-wheelers and 700 two-wheelers can be parked at the Kathmandu Tower at a time. The new provision is expected to ease traffic congestion in the major market hub of the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that parking will be prohibited on blacktopped roads in and around Dharmapath, Indrachowk, Khichapokhari, Mahabouddha, and around Bir Hospital. Earlier, a similar prohibition in vehicle parking was imposed by the KMC in Jhonche area. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19780', 'image' => '20240123011840_parking04ment-Esewa.jpg', 'article_date' => '2024-01-23 13:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20052', 'article_category_id' => '1', 'title' => 'Credit Flow to Industrial Sector Increased in Last FY', 'sub_title' => '', 'summary' => 'January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 23: There has been an improvement in credit flow to the industrial sector due to the ease in liquidity crunch along with decline in interest rates and refinancing facility. The record of Nepal Rastra Bank (NRB) shows credit flow to the industrial sector increased in the last fiscal year (FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Annual Economic Activity Report <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span> published by the central bank recently, credit flow to the industries expanded by <span style="font-family:"Arial Unicode MS","sans-serif"">10.8</span> percent in the last fiscal year. Prior to that, credit flow to the industrial sector had declined by <span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> due to liquidity crisis and high interest rates<span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the NRB, banks and financial institutions (BFIs) provided loans worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1387.44</span> billion to the industrial sector in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23</span>. Such loans disbursed in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> amounted to Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1251.96</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">While there has been an improvement in credit flow to the industrial sector, the growth rate of credit to the service sector remained lower than the previous year in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23. </span>The service sector credit increased by <span style="font-family:"Arial Unicode MS","sans-serif"">13.7</span> percent in the fiscal year <span style="font-family:"Arial Unicode MS","sans-serif"">2021/22</span> but increased by only <span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span> percent in FY <span style="font-family:"Arial Unicode MS","sans-serif"">2022/23.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report of the central bank, out of the total loans disbursed by banks and financial institutions, the share of industrial sector loans is <span style="font-family:"Arial Unicode MS","sans-serif"">28.4</span> percent. In the last fiscal year, the highest credit went to the non-food product manufacturing industry at <span style="font-family:"Arial Unicode MS","sans-serif"">38.99</span> percent. Similarly, <span style="font-family:"Arial Unicode MS","sans-serif"">22.17</span> percent loans were disbursed to the electricity, gas and water related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">19.91</span> percent to the agriculture, forestry and beverage related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">12.81</span> percent to construction related industries, <span style="font-family:"Arial Unicode MS","sans-serif"">5.27</span> percent to metal products, machinery and electronic related industries and <span style="font-family:"Arial Unicode MS","sans-serif"">0.86</span> percent to the mining related industries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among industrial loans, Bagmati Province witnessed the highest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">954.01</span> billion, while Karnali Province saw the lowest loan investment of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">3.98</span> billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the loans in the service sector, the highest loans were given to the wholesaler and retailer sub-sector at <span style="font-family:"Arial Unicode MS","sans-serif"">50 </span>percent, followed by <span style="font-family:"Arial Unicode MS","sans-serif"">12.2 </span>percent in the real estate sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">10.7 </span>percent in the tourism sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">9.8 </span>percent in the finance, insurance and real estate sub-sector, and <span style="font-family:"Arial Unicode MS","sans-serif"">5.5 </span>percent in the education sub-sector. A total of <span style="font-family:"Arial Unicode MS","sans-serif"">4.9 </span>percent loans were disbursed to the transport, storage and communication sub-sector, <span style="font-family:"Arial Unicode MS","sans-serif"">3.7 </span>percent to other service sub-sector and <span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span>percent to health and other social work related sub-sector.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19779', 'image' => '20240123122602_indus.jpg', 'article_date' => '2024-01-23 12:24:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20049', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Falls 30 Percent in Everest Region ', 'sub_title' => '', 'summary' => 'January 23: The number of tourists visiting the Everest region has declined this winter.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 23: The number of tourists visiting the Everest region has declined this winter.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Phudoma Sherpa from Khumjung village of Khumbu Pasanglhamu rural municipality-4 in the district is feeling desolate this winter. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the arrival of tourists was normal in the previous years, it is bleak this time, she says. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Last year, tourist influx was normal, but less number of visitors is worrying us this winter," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sagarmatha National Park Office at Namche also confirmed 30 percent fall in arrival of tourists in the Sagarmatha region this winter. Last year, a total of 1,920 tourists had visited the Khumbu area while only 1,329 tourists turned up this year, according to information officer at the Sagarmatha National Park Office, Manoj Kumar Mandal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the total visitors, 455 were domestic tourists while 1,465 were foreigners last year. A total of 120 Nepalis and 1,209 foreigners visited the Khumbu region so far this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, the Khumbu region has turned deserted due to the increasing cold. The National Park Office informed that the dip in mercury level is the reason behind it. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Everest <span style="font-family:"Arial Unicode MS","sans-serif"">region, which is home to the world’s highest peak, bustles with tourists only for six months in a year. The peak season for tourists to visit this region of natural beauty is September, October and November.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the peak season, as many as 1,000 tourists visit the Khumbu region a day, while there are hardly five to seven tourists now, information officer Mandal added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward-4 Chairman Laxman Adhikari said the tourism entrepreneurs are out of business at present. Even the locals have left villages to avoid cold. During the off-season, the locals shift to lowlands to avoid excessive cold.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Area Administration Office, Namche, Sujan Kumari Bardewa, said the places such as Lukla, Namche, and Khumjung now wear a deserted look with limited number of people. Many people go to lower elevation areas to escape unforgiving cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public offices also record negligible number of service seekers, Bardewa added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tilak BK, a teacher at Khumjung Secondary School, says, "As the winter begins, the people here leave for warm places including Kathmandu and some even make pilgrimage to Bodhgaya, India." Most of the people of Khumbu stay in Kathmandu during the winter. – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19776', 'image' => '20240123112749_256058_218722994818098_1370242_o.jpg', 'article_date' => '2024-01-23 11:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20048', 'article_category_id' => '1', 'title' => 'Economy Returning to Normalcy: Minister Mahat', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 23: Minister for Finance Dr Prakash Sharan Mahat said on Monday that the national economy is steadily returning to normalcy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the new Mahagadhimai municipality building in Bara, Minister Mahat acknowledged the economic challenges faced upon assuming office but highlighted the economy was improving. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, Mahat reassured the public of discussions with officials from both Nepal and India concerning the potential reopening of several checkpoints along the Bara district border. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Emphasizing the accelerated efforts to attract investments for the Nijgadh Airport, he urged the public not to doubt the progress of the airport's construction.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Providing updates on infrastructure projects, Minister Mahat mentioned the nearing completion of the Sunkoshi Marine Diversion Multipurpose Project.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> He expressed confidence that the project's conclusion would significantly enhance irrigation in various districts within the Madhesh region.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a separate visit to Choti Bhansar, a customs office at Simraungadh in the district, Minister Mahat pledged to expedite the opening of the custom point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Mahat inspected the Sanphulawa checkpoint in Swarna rural municipality on the same day, underscoring the government's commitment to enhancing regional connectivity. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-23', 'modified' => '2024-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '19775', 'image' => '20240123062302_collage (14).jpg', 'article_date' => '2024-01-23 06:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20047', 'article_category_id' => '1', 'title' => 'Lumbini Bikas Bank Extends Succour to Sahara Football Academy', 'sub_title' => '', 'summary' => 'Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 22: Lumbini Bikas Bank Limited has provided financial support to the 'Sahara Football Academy,' operated by Sahara Academy Pokhara in Dobilla, Pokhara-17. The bank has extended financial assistance of Rs 244,800 to the club, continuing its support from the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ramchandra Sigdel, a member of the bank's executive committee, handed over a cheque of the financial aid to Keshavraj Baral, the club's president. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund is intended for the nutrition and food expenses of the boys and girls residing in the academy. Currently, the academy accommodates 45 underprivileged and vulnerable children from 15 districts facing challenging circumstances.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sahara Club Pokhara provides care and football training along with education to these children. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19774', 'image' => '20240122045423_collage (24).jpg', 'article_date' => '2024-01-22 16:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20046', 'article_category_id' => '1', 'title' => 'Import of Agricultural Products Declines by Rs 23 Billion', 'sub_title' => '', 'summary' => 'January 22: The import of agricultural products has decreased by Rs 23.3 billion in the first six months of the current fiscal year compared to the corresponding period of last FY.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The import of agricultural products has decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">23</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">3</span> billion in the first six months of the current fiscal year compared to the corresponding period of last FY. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the latest data published by the Department of Customs, the import of agricultural products has decreased in the review period due to the restrictions imposed by India.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The import of food items such as paddy, rice, wheat, ghee, oil, sugar has decreased, while the import of tea, coffee, fruits and nuts has increased. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Analysts say that the price of food grains is likely to increase if the import of the main agricultural products decreases. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Punya Bikram Khadka, information officer of the Department Customs said that the imports of agricultural products into Nepal has decreased due to restrictions imposed by India. According to him, the import has been affected due to the ban imposed by India on the export of various agricultural products including paddy, rice, wheat, onion, sugar. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In addition, he said that imports have also been affected due to recent structural changes in the quarantine centers at the border crossing to Nepal that has caused problems with the customs inspection.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country imported ghee and oil worth <span style="font-family:"Arial Unicode MS","sans-serif"">52</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">1</span> billion in the first six months of the previous fiscal year, but the import value this year stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">34</span> billion. The import of ghee and oil decreased by Rs <span style="font-family:"Arial Unicode MS","sans-serif"">26</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">76</span> billion this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepla had imported food items such as rice, corn and wheat worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">27</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91</span> billion in the first six months of last FY while such items worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">22</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">22</span> billion have been imported this year. Likewise, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">2.31</span> billion was imported in the first six months of last year, but in the same period of the current year, sugar worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">1.93</span> billion was imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Khadka said that if the import of the main agricultural produce decreases, the market price of those products may also be affected. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Our market policy seems to be very weak. From the very next day after the news of decline in imports comes out, there is an artificial shortages of goods in the market and price increases. Therefore, it cannot be said that it will not happen again,” he told New Business Age.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19773', 'image' => '20240122032824_20231226122800_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2024-01-22 15:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20044', 'article_category_id' => '1', 'title' => 'Major Survey for Petroleum Exploration in Dailekh Reports 80 Percent Progress ', 'sub_title' => '', 'summary' => 'January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: A survey for the exploration of petroleum products in Dailekh has reported eighty percent work progress. This survey in Bhirkhet, the project's main site, is said to be decisive for the exploration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to project chief of the Department of Mines and Geology, Dinesh Kumar Napit, studies so far suggest that Dailekh could be a major source of petroleum products and natural gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The final drilling that will go underground up to four kilometers will be vital in determining the available volume of petro products. The drilling is assisted by a giant machine brought from China, according to Napit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploration is underway here since September-October, 2019. It is jointly carried out by the Department of Mines and Geology under the Government of Nepal and China-based Geological Survey at the cost of Rs 2.40 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19772', 'image' => '20240122023324_explore.jpg', 'article_date' => '2024-01-22 14:28:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20043', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Almost Seven Hundred Billion Rupees in Six Months', 'sub_title' => '', 'summary' => 'January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The country suffered a trade loss of almost seven hundred billion rupees in the first six months of the current fiscal year. According to the data published by the Department of Customs, Nepal’s trade deficit stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">693</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">19</span> billion as of mid-January. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of the department, the transaction amount of Nepal’s foreign trade was Rs 843.13 in <span style="font-family:"Arial Unicode MS","sans-serif"">6</span> months of current fiscal years. It includes Rs <span style="font-family:"Arial Unicode MS","sans-serif"">768</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">16</span> billion spent on imports and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">74</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion earned from exports.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, the country’s imports have declined by <span style="font-family:"Arial Unicode MS","sans-serif"">3.09</span> percent and export by <span style="font-family:"Arial Unicode MS","sans-serif"">7.23</span> percent in the first six months of the current FY compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Overall, foreign trade decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">3.47</span> percent, while the trade deficit decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">2.62</span> percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal incurred the maximum trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">424</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion with India alone. In the first six months of current FY, Nepal imported goods worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">474</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">89</span> billion from India while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">50</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">44</span> billion. After India, Nepal incurred high trade deficit with four countries including China, the United Arab Emirates, Ukraine and Malaysia.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By mid-January, Nepal had a trade deficit of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">145</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">79</span> billion China, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">12</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">26</span> billion with the United Arab Emirates, Rs <span style="font-family:"Arial Unicode MS","sans-serif"">9</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">96</span> billion with Ukraine and Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif""> 6</span> billion with Malaysia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal recorded the highest trade surplus with the United States of America.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the six months of the current fiscal year, Nepal imported goods and services worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">7</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">63</span> billion from the USA while its export earnings stood at Rs <span style="font-family:"Arial Unicode MS","sans-serif"">8</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">33</span> billion. In other words, Nepal had a trade surplus of Rs <span style="font-family:"Arial Unicode MS","sans-serif"">736</span> million with the USA.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, Nepal mostly imported petroleum products. The country imported diesel worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">66</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">49 </span>billion by mid-January, followed by imports of petrol worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">33</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">91 </span>billion and LPG worth Rs <span style="font-family:"Arial Unicode MS","sans-serif"">25</span>.<span style="font-family:"Arial Unicode MS","sans-serif"">45</span> billion, according to the Department of Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19770', 'image' => '20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-01-22 13:29:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
