January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering…
January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering…
January 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import…
The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January…
January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of…
January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration…
January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank…
January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12…
January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment.…
January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in…
January 21: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in…
January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired…
January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said…
January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the…
January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of…
January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial…
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A division bench of Special Court chairperson Tek Narayan Kunwar and judges Hem Narayan Singh Rai and Murari Babu Shrestha convicted four people including Tamang. The court also found Ichharaj Tamang’s wife Srijana and their relatives Keshavraj Shrestha and Meena Kumari Shrestha guilty. Ichcharaj's two daughters Pratishka and Pratishta were acquitted by the court.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Special Court’s spokesperson Dhan Bahadur Karki, a separate bench on February 4 will decide on their punishment. Legal professionals have estimated that Tamang may be sentenced to more than three years in prison.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against Ichcharaj along with his wife Srjana and two daughters Pratishka and Pratishtha on charges of money laundering on September 1, 2022. The case was filed alleging the Tamang family of illegally investing the funds of the cooperative in their private companies and investing the profits elsewhere. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Tamang couple invested the amount deposited in the cooperative in other companies owned by Ichharaj and his family. After Tamang failed to repay the principal and interest, the cooperative went bankrupt and was unable to return the money to the depositors. About 1,400 people who deposited their money in the cooperative are yet to receive their money back.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The department had filed a charge-sheet against Tamang alleging him of illegally amassing assets worth over Rs 3.31 billion. The has demanded recovery of Rs 3.318 billion for the alleged illegal acquisition, with additional claims of Rs 1.30 billion against his wife Srijana, Rs 62.2 million against daughter Pratikchya, and Rs 1.89 million against Pratistha. According to the charge-sheet, the Tamang family has to pay a total amount of Rs 4.43 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By the time the case was filed, Tamang’s wife Srijana had already divorced her husband.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Initially, the investigation against Tamang was undertaken by the Central Bureau of Investigation after receiving a complaint in a fraud case. During the investigation, the CIB forwarded the file to the department after he was found involved in money laundering.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19769', 'image' => '20240122121403_Ichha-Raj-Tamang.jpg', 'article_date' => '2024-01-22 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20041', 'article_category_id' => '1', 'title' => 'NRB Governor Advises Agricultural Development Bank to Diversify its Services ', 'sub_title' => '', 'summary' => 'January 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. ', '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: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. </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 his address to the 57th anniversary of the Agricultural Development Bank on Sunday, the NRB governor advised the bank to utilise the available financial resources for the growth of agricultural production, import minimization and export promotion. </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 agricultural sector has a huge potential. It can help address the gap in supplies and price chain. It can extend its access to farmers and workers deprived of financial services and the marginalised community," he said. He also stressed on the need for the bank to diversity its services. </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"">Chairman the Board of Directors of the bank Ram Sharan Pudasaini said the bank had achieved success despite a sluggish economy in the nation and in the world. </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 bank is competent to successfully manage the potential systemic risk in the banking sector," he said. </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"">Poverty alleviation, small farmers' development programme, rural and agricultural development and micro finance services for rural and indigenous community are the special concerns of the bank, according to him. </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 bank was established on January 21, 1968 under the ADBN Act 1967 with the main objective of providing institutional credit for enhancing the production and productivity of the agricultural sector in the country.</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 bank was established in 2041 BS. On the occasion of its anniversary, it announced 11 percent cash dividend and two percent bonus share for its shareholders from the profit of the fiscal year, 2021/22. </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"">During the last fiscal year, the bank’s operational profit was Rs 4.82 billion while the deposit collection amounted to over Rs 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 percent. The bank’s issued and paid-up capital stands at Rs 18.62 billion and 51 percent of its share is owned by the government. (With inputs from RSS)</span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19768', 'image' => '20240122113100_aagri bank.jpg', 'article_date' => '2024-01-22 11:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20040', 'article_category_id' => '1', 'title' => 'Training Program Held to Train Local Chinese Teachers at LRI School', 'sub_title' => '', 'summary' => 'The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 21: The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event saw the participation of Wang Xin, the Political Counsellor of the Chinese Embassy in Nepal, Yub Raj Dahal, Officer of the District Education Coordination Unit in Kathmandu, and other guests at the Confucius Classroom of LRI School.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The training aimed to empower local Chinese language teachers in Nepal involved in international Chinese education. The program offered a valuable opportunity for these educators to enhance their professional skills and deepen their understanding of Chinese culture. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ultimate goal was to contribute significantly to development of Chinese education in Nepal.</span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19767', 'image' => '20240121032511_collage (22).jpg', 'article_date' => '2024-01-21 15:23:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20039', 'article_category_id' => '1', 'title' => 'Number of Taxpayers up in KMC ', 'sub_title' => '', 'summary' => 'January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers was 324,120 in the last fiscal year, which has increased to 343,340 in the current fiscal year, said Dhruba Kafle, the chief of KMC's Revenue Department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Kafle, 35, 057 taxpayers have increased under the heading of 'rental taxpayers', 31,916 have been added under the heading of business taxpayers and 52,486 have added under the heading of property taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers has gone up in other tax headings as well. The metropolis' revenue collection has also significantly increased with the increase in the number of taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kafle said that KMC has collected approximately Rs 5 billion in revenue in the first half of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has been collecting revenue under 36 different headings, including property tax, house rent tax, business tax, advertisement tax, entertainment tax, land tax and VAT. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19766', 'image' => '20240121030339_QD3B58fDcaeg9xELQr7HHN.jpg', 'article_date' => '2024-01-21 15:00:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20038', 'article_category_id' => '1', 'title' => 'Government Initiates Discussion on Labour Migration Policy ', 'sub_title' => '', 'summary' => 'January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the discussion programme organized by the ministry, Labour Minister Sharat Singh Bhandari informed that government is preparing a policy on labour migration in order to make the domestic and foreign employment dignified. </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 policy is also essential for promoting and incorporating labour issues in the forthcoming five-year plan and making this sector systematic, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Kewal Prasad Bhandari informed that the draft would be amended based on the suggestions received by the taskforce. The ministry is effortful to ensure health and social security as major agenda in the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The stakeholders and experts provided suggestions during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed a taskforce under the coordination of labour expert Dr Ganesh Gurung to draft the labour migration policy. The taskforce has begun discussion on the draft policy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19765', 'image' => '20240121025530_foreign emp.jpg', 'article_date' => '2024-01-21 14:54:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20036', 'article_category_id' => '1', 'title' => 'Global Economic Outlook Shadowed with Uncertainty: WEF ', 'sub_title' => '', 'summary' => 'January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a panel discussion on the global economic outlook on Friday at the World Economic Forum (WEF) in Davos, Switzerland, Lagarde said there are indications that consumption, usually a driving force for growth, is not as strong as it used to be. She attributed this trend to dwindling savings in practically all advanced economies, representing a drop from 10 percent to "virtually zero." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the latest Chief Economists Outlook released by the WEF, 56 percent of chief economists expect the global economy to weaken in 2024, while a strong majority have predicted loosening labor markets and financial conditions in the coming year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Trade, however, is starting to normalize, according to Lagarde. "Trade went down and was massively disrupted...in the two years preceding 2023, but it is beginning to really pick up," Lagarde said. She added that in October, global trade numbers were up for the first time in many months. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another sign of normalization is that - except for the euro area - headline inflation and core inflation are coming down globally. Germany Finance Minister Christian Lindner acknowledged the economic difficulties his country is currently facing after a long period of strong growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The eurozone's largest economy contracted by 0.3 percent last year amid persistent inflation, high energy prices and weak foreign demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Lindner, however, refuted claims that Germany is the sick man of Europe, saying it is only "a tired man" who needed a "good cup of coffee, which means structural reforms." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that the year 2023 was "a call for action" and said challenges include the rise of artificial intelligence and the threat of fragmentation in the global economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala expressed concerns about political developments in the Red Sea area and the Suez Canal, as well as the Panama Canal which has been reeling from the effects of climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">She said goods trade was considerably down in 2023, forcing the WTO to revise its forecast from 1.7 percent to 0.8 percent. In the last quarter of 2023, however, trade showed a recovery, led by automobiles, components and parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"We have been more optimistic about 2024, forecasting a considerable recovery to 3.3 percent. We may be moving towards normalization but not normal because trade growth is still trending below GDP growth," she noted. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But looming uncertainties have made forecasting difficult, she said. "However, I will take a bit of a risk and say that 2024 will be better than 2023 unless a major war breaks out, then all bets are off," Okonjo-Iweala said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Singaporean President Tharman Shanmugaratnam, the biggest challenges to resilience are the slowly happening changes that threaten in a far more fundamental way. These included the shift in the global ecological balance, the aging of societies "which we are by and large not prepared for", and the gradual shift towards polarization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In his closing remarks on Friday, WEF President Borge Brende called for global cooperation to fight today's challenges. "In an uncertain and challenging time, one thing is clear: we can shape a more resilient, sustainable and equitable future, but the only way to do so is together." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entitled "Rebuilding Trust," the five-day WEF annual meeting focused on four priorities: achieving security and cooperation in a fractured world; creating growth and jobs for a new era; harnessing artificial intelligence as a driving force for the economy and society, and formulating a long-term strategy for climate, nature, and energy. – Xinhua/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19763', 'image' => '20240121015403_ouylook.jpg', 'article_date' => '2024-01-21 13:53:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20033', 'article_category_id' => '1', 'title' => 'Govt Requires more than Rs 6200 Billion in 12 Years to Produce 28,500 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet made this announcement at a recent programme held in Kathmandu on the occasion of the 24th anniversary of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Until a few years ago, our major concern was that if we could properly utilize the electricity that we produce. But that fear has disappeared with India signing an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years," Minister Basnet said, adding, “Selling electricity is not a big problem now. Therefore, it is not unrealistic to produce 28, 500 megawatts of electricity in this context.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders, however say that the government alone cannot achieve this ambitious plan. They have requested the government to encourage the private sector by amending the laws and policies related to energy production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Ganesh Karki, president of IPPAN, said that the energy sector is the only basis for the economic prosperity of the country, and there is a need to revise the policies. "Currently, the coordination of one or two agencies is not enough to solve the problem of electricity generation. There is a compulsion to coordinate with 14 different ministries for power generation," President Karki said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The law itself should be amended to facilitate all the complicated processes. The government's plan will be successful only if all the work can be done by the Ministry of Energy itself. If this arrangement is not made, the country will not be able to generate 10,000 megawatts of electricity in 12 years.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the last one decade, Nepal’s installed capacity of electricity increased from 800 megawatts to 2900 megawatts. It includes 2,154 megawatts of electricity from 167 projects of the private sector. According to IPPAN data, more than 76 percent of Nepal's electricity grid capacity is contributed by the private sector. Likewise, the access to electricity has increased from 55 percent to 98 percent during this period.</span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rs 6217 billion required to meet the target</span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. The government plans to contribute USD 6 billion dollars and raise investment of USD 10 billion from domestic banks and financial institutions, USD 8 billion from the Nepal Electricity Authority and USD 2 billion from the Climate Fund. Similarly, the government plans to raise USD 12 billion from Nepalis employed in foreign countries and non-resident Nepalis and USD 8.5 billion through foreign investment, grants and loans. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19760', 'image' => '20240121113128_electricity.jpg', 'article_date' => '2024-01-21 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20032', 'article_category_id' => '1', 'title' => 'Number of Nepalis Visiting Europe for Employment Declines Marginally', 'sub_title' => '', 'summary' => 'January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. In the first six months of the current fiscal year (FY), the number of Nepalis visiting Europe for foreign employment has decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">1.47</span> percent 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"">According to the data released recently by the Department of Foreign Employment, <span style="font-family:"Arial Unicode MS","sans-serif"">23,655</span> Nepalis traveled to European countries for employment as of mid-January of the current fiscal year. During the same period of last year, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">24</span>,00<span style="font-family:"Arial Unicode MS","sans-serif"">8</span> Nepalis went to Europe for employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Statistics show that Nepali migrant workers prefer European countries like Croatia, Malta, Cyprus, Poland, and the UK for foreign employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Data show that the number of Nepalis going to Romania, Poland, UK and other countries has decreased this year compared to last year. Meanwhile, the number of Nepalis visiting Cyprus, Austria, Albania, Russia has increased in the first six months of 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"">Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">983</span> Nepalis went to Croatia in the first six months of the previous year while <span style="font-family:"Arial Unicode MS","sans-serif"">6</span>, 0<span style="font-family:"Arial Unicode MS","sans-serif"">24</span> people went to Croatia during the same period this year. Last year, <span style="font-family:"Arial Unicode MS","sans-serif"">4</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">508</span> Nepalis visited Malta as of mid-January, but this year <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">935</span> people went to Malta. It seems that the number of people going to Cyprus has increased to <span style="font-family:"Arial Unicode MS","sans-serif"">2,692</span> this year from <span style="font-family:"Arial Unicode MS","sans-serif"">2,304</span> last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of people visiting Israel is also less than half compared to the last FY. As of last year, <span style="font-family:"Arial Unicode MS","sans-serif"">887</span> Nepalis went to Israel but the number is only <span style="font-family:"Arial Unicode MS","sans-serif"">400</span> this year<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>After Hamas militants attacked Israel in October, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">254</span> Nepalis returned home on a chartered plane sent by the government.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of Nepalis traveling to Russia has increased this year compared to the previous year. Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">146</span> Nepalis had gone to Russia as of mid-January of last FY which increased to <span style="font-family:"Arial Unicode MS","sans-serif"">346</span> this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Russia is engaged in a war with Ukraine since almost two years. Many Nepali citizens have reportedly joined the Russian army for lucrative salary. However, the government data show that the number of Nepalis joining the Russian army has decreased significantly since last month after a number of Nepalis died in the war. The Government of Nepal has urged its citizens not to join any foreign military except a few armies that have been recruiting Nepalis since a long time.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19759', 'image' => '20240121113017_Moles - eu.jpg', 'article_date' => '2024-01-21 11:29:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20031', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 3.15 Billion in Royalty from Hydel Projects ', 'sub_title' => '', 'summary' => 'January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Electricity Authority (NEA) has been collecting the royalty amount on a regular basis as it keeps the royalty amount collected from the power developers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department of Electricity Development has asked some power developers to deposit the royalty amount as they were yet to clear their dues till the fiscal year 2079/080 BS, the Department's Director General Chiranjivi Chataut said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The projects failing to clear their dues would be charged by the NEA. As per the provision, the royalty amount would be provided to the affected communities at the local level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department has collected Rs 1.15 billion from license fees, Rs 8.7 million from penalty and confiscation and Rs 4.2 million from arrears. The Department collected Rs 4.31 billion plus in revenue in the fiscal year 2079/080. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department has collected Rs 595.5 million in royalty in the first six months of the current fiscal year while the amount from licensing is Rs 162.4 million. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19758', 'image' => '20240121104642_hydro.jpg', 'article_date' => '2024-01-21 10:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20030', 'article_category_id' => '1', 'title' => 'Locals Worry Over Fading Glacial Lake ', 'sub_title' => '', 'summary' => 'January 21: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. ', 'content' => '<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""> </span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2</span></span></span><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""><span style="font-size:18px">1</span></span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The glacier at his doorstep and the splendid nature are the memories of the past.</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 Gangpurna Lake located at an altitude of 3,820 meters has gradually turned into an arid land," he said expressing utmost despair. </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"">If the lake had persisted, it could help attract tourists, but in vain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghale recalls, "Even the Swiss geologist Toni Hagen had photographed the Gangapura Lake in 1957 which is widely used for publicity. Since then, the lake has been made a base of further study on geological structure and climate change impacts." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nearly nine-kilometer long glacier is receding every year. It has been studied by foreign research centres as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Shalik Ram Sigdel, a member of the research team, climate change, unusual avalanche and rainfall were causing existential threat to the lake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Visit-Manang campaigner Phurba Tamang said although new lakes like Tilicho and Gangapurna were being explored in Manang of late, the conservation of Gangapurna Lake must be kept in priority. The glacial lake, which is being studied for half a century, should not be left out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of local tourism campaigners including Phurba had found a new lake located 25 meters away from Chame. It was named Kajinsara Lake. Although the lake was publicized as the one located even above the Tilicho Lake, a scientific verification is awaited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the researchers' warning over the extinction of the lake and changes in nature, the rural municipality has allocated Rs 30 million to restore the glory of the pristine lake. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19757', 'image' => '20240121094717_2176216343_n.jpg', 'article_date' => '2024-01-21 09:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20029', 'article_category_id' => '1', 'title' => 'Police Ramp Up Use of Multiple Technologies in Crime Investigation', 'sub_title' => '', 'summary' => 'January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The use of modern technologies has helped police prove the authenticity of the evidence in the court when the accused deny their wrongdoings, according to the police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the Kathmandu Valley Police, SSP Dineshraj Mainali, shared that the Nepal Police has proceeded with its works in line with the policy of utilizing technology to optimize their performance. Considering the important role of modern technology in crime investigation, police have been maximizing the practice lately, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The Central Forensic Science Laboratory at Samakhusi, Kathmandu examines the evidence collected during the investigation of crimes. The lab has been conducting scientific testing and analysis of chemicals and narcotic drugs, explosive substances, toxicology, DNA, controversial documents, footprint and fingerprint analysis and scientific examination of photos among others, it was shared. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, polygraph machines are used to test whether the accused or crime suspects are lying or not. Postmortem is conducted at the Forensic Department of the Tribhuvan University Teaching Hospital and district hospitals to find out the cause of the death- whether it is due to murder and other causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The police have also digitalized many of its services to facilitate the service seekers. The police report can be accessed online within a few days from any part of the world, according to DIG Bhim Prasad Dhakal, the Central Spokesperson for the Nepal Police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Police also have their App through which the public can notify the police about the incidents of crime. Similarly, public can also play the role of 'police without uniform' by informing the police about criminal activities through the emergency numbers such as </span></span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">100, 103 and 104, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">To minimize road accidents and for effective traffic management, the traffic police have put in place CCTV cameras, traffic lights, street lights, road signs and signals, road markings, radar guns, breath analyzers, drug detection kits, GoPro cameras, voice recorders among others, informed Kathmandu Valley Traffic Police Office's Spokesperson Rajendra Prasad Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Efforts are underway to introduce vehicle scanners and other technologies at the main checkpoints of the Kathmandu Valley. Altogether 10 Automatic Number Plate Recognition Cameras are in use in the valley apart from 170 CCTV cameras.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, face-reading cameras have been installed in 10 places, cameras with video management based on AI have been installed at 150 places for effective traffic management, said Spokesperson Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19754', 'image' => '20240121090851_private-detective-is-investigating-modern-colored-vector-poster-2J6WTJ3-transformed - Copy.jpeg', 'article_date' => '2024-01-21 09:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20025', 'article_category_id' => '1', 'title' => 'Global Tourism to Reach Pre-Pandemic Levels in 2024: UN Tourism Agency', 'sub_title' => '', 'summary' => 'January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above 2019 levels," the Madrid-based agency said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Figures for last year showed that 1.3 billion tourists travelled abroad, 44 percent higher than in 2022 and 88 percent of the numbers in 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">UNTWO pointed to "a stronger recovery of Asian markets" but noted that the biggest rise was in the Middle East which was "the only region to overcome pre-pandemic levels with arrivals 22 percent above 2019".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Europe, the world's most visited region, also saw a strong performance with tourism reaching 94 percent of its 2019 figures, with African figures reaching 96 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relative terms, the Asia-Pacific region was the weakest with just 65 percent of pre-pandemic levels, despite China's lifting of health restrictions a year ago after a strict three-year zero-Covid strategy when it cut itself off from the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The latest UNWTO data underscores tourism's resilience and rapid recovery, with pre-pandemic numbers expected by the end of 2024," its Secretary-General Zurab Pololikashvili said in the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chinese tourism was expected to gather pace this year with Beijing offering visa-free travel for citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia until the end of November.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prediction for 2024, however, "remains subject to the pace of recovery in Asia and to the evolution of existing economic and geopolitical downside risks," it said, notably due to the Israel-Hamas war and the unsettled global economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Persisting inflation, high interest rates, volatile oil prices and disruptions to trade can continue to impact transport and accommodations costs in 2024," it warned. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-20', 'modified' => '2024-01-20', 'keywords' => 'Tourism, global, pandemic, UN, UNWTO', 'description' => '', 'sortorder' => '19752', 'image' => '20240120114403_20220828021403_Tourist.jpg', 'article_date' => '2024-01-20 11:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20024', 'article_category_id' => '1', 'title' => 'Majority of Listed Companies not in a Mood to Distribute Dividends to Shareholders', 'sub_title' => '', 'summary' => 'January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of <span style="font-family:"Arial Unicode MS","sans-serif"">249</span> companies listed in Nepal Stock Exchange (NEPSE), <span style="font-family:"Arial Unicode MS","sans-serif"">97</span> have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some companies are declaring dividends from the distributable profits up to the last fiscal year (FY) and some have already declared and endorsed it by the annual general meeting. Some companies have started informing through NEPSE that they have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year's recession has affected the profits of the companies. On the other hand, the listed companies have not been able to distribute dividends to the shareholders also due to regulatory restrictions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Bad loans of banks have affected various other sectors. Experts say that since this has directly affected the profit of the listed companies, such companies have not been able to distribute dividends to the shareholders. In the case of hydropower companies, most of them have just sold their shares to the general public and got listed in the secondary market of securities. Most of them have not even started producing electricity. This is the reason why they are not able to distribute dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Commercial Banks</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Five of the commercial banks listed in NEPSE have informed that they will not distribute dividends this year. Himalayan Bank, NMB Bank, Prime Commercial Bank, Kumari Bank and Nepal Bank have decided not to pay dividends. Three banks have not declared dividends yet. Nepal Investment Mega Bank, Prabhu Bank and Agriculture Development Bank have not declared dividend till now. The rest of the banks have declared dividends and passed them by the AGM.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Microfinance</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Most of the microfinance companies do not pay dividends. Among the listed microfinance companies, Himalayan, Gurans, Infinity, Laxmi, Sivaisi, Sadhana, Mero Microfinance, Ganapati, Mankamana Smart, Upakar, Samudayik, Forward, Nadep, Sabaiko, Unnati Sahakarya and Nerude Microfinance have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Gramin Bikas, Nirdhan Uthan, Kalika, Kisan and Dhaulagiri microfinance are also in the list of companies that have decided not to distribute dividends. So far, <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> microfinance companies have announced to distribute dividends from last year's profits.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Development Banks </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This year, only seven of the listed development banks have announced dividend for the investors. Jyoti, Kamna Seva, Sindhu and Saptakoshi development bank have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Narayani, Excel, Karnali, Corporate and Green development banks are yet to announce the decision regarding dividend and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Finance Companies</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, only three finance companies have declared dividends. Nepal, Goodwill, Samriddhi, Progressive, Pokhara and Guheshwari Merchant and Finance have decided not to distribute dividends. Similarly, Gorkhaz, Best, Janaki, Central, Multipurpose and Reliance Finance have not yet decided the date of dividend announcement and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hydropower</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the <span style="font-family:"Arial Unicode MS","sans-serif"">91</span> listed hydropower companies, only <span style="font-family:"Arial Unicode MS","sans-serif"">13</span> have proposed to distribute dividends. Forty-nine companies have held annual general meetings without announcing dividends. The remaining <span style="font-family:"Arial Unicode MS","sans-serif"">29</span> companies have not taken any decision regarding the annual general meeting and dividend so far.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Investment </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, five companies under the investment group have announced their annual general meeting. Four of them have declared dividends for the investors from the profits made during last year. NRN Infrastructure Bank has informed that it will not declare dividend. The date of dividend announcement and annual general meeting of the two companies is yet to be decided.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hotels and tourism </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Six companies under this group have announced their annual general meeting. Three of them have decided to distribute dividends to the investors. Three including Kalinchok Darshan, Chandragiri Hills and City Hotel have decided not to distribute dividends to the shareholders. </span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Production and processing </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Eight companies of this group have called their annual general meeting. Among them, six companies have announced to pay dividends to the investors. Two of them have decided not to distribute dividends. They include Bottlers Nepal Balaju and Sonapur Minerals and Oil Limited.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Other group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among other companies under the group, only Nepal Telecommunication Company has announced dividends. Three other companies have decided not to pay dividends. Muktinath Agricultural Company, Nepal Republic Media and Nepal Warehousing Company have decided not to pay dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Non-Life Insurance Group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among the listed non-life insurance companies, Prudential Insurance and Neco Insurance have decided not to distribute dividends from last year's profits. Nepal Insurance Company has announced dividend. Nine non-life insurance companies are yet to make a decision regarding the distribution of dividends.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19751', 'image' => '20240119033639_main-qimg-09d9905cfabf21f2993d3ff365455380-lq.jpg', 'article_date' => '2024-01-19 15:34:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20023', 'article_category_id' => '1', 'title' => 'Interest on Bank Loans also Starts Declining', 'sub_title' => '', 'summary' => 'January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Nepal Rastra Bank, the base rate and the interest rate of loans have been continuously declining along with the interest rate of deposits in the current iscal year (FY) 2080/81. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank has said that the average interest rate of deposits of commercial banks was 8 percent in mid-July of the current year, but it fell to 7.62 percent in mid-December. Similarly, when the average base rate fell from 10.11 percent to 9.64 percent, the interest on loans also fell from 12.24 percent to 11.85 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Deputy spokesperson of Nepal Rastra Bank Dr Dilliram Pokharel said, "Nepal Rastra Bank itself has encouraged the reduction of interest rates by reducing policy rates," he said, "It seems that banks are also reducing interest rates as liquidity has eased." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that there is excess liquidity in the market at present and the NRB is mopping liquidity, Pokharel said that the interest rates will drop further.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After liquidity eased in the financial system, the Nepal Bankers' Association decided to end the gentlemen’s agreement to fix uniform interest rates and decided to allow banks to fix the interest rates as per their wish.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As a result, the maximum interest rate of deposits of commercial banks fell below 8 percent in mid-January. In mid-January, 18 banks announced reduction in interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the instructions of the central bank, BFIs can set the base rate by adding 0.75 percent profit to the cost. Banks have to calculate the base rate on a monthly basis and submit it to the central bank within 7 days of the end of each month and publish it on their website. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks have been determining the interest rate on loans by adding a certain percentage premium to the base rate of the last three months. According to this arrangement, when the average base rate of the bank decreases every quarter, the interest rate of the loan automatically decreases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, commercial banks add a maximum of 5 percent premium to the base rate while determining the interest rate on loans. However, there is a provision that the premium specified in the loan agreement cannot be changed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19750', 'image' => '20240119030512_Banks - Copy.jpg', 'article_date' => '2024-01-19 15:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20022', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Declines: NRB Report', 'sub_title' => '', 'summary' => 'January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The production capacity of industries that produce food, oil, ghee, cement and steel among others are found to have declined.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The recently published 'Economic Activity Study Annual Report' of Nepal Rastra Bank has shown that the average capacity utilization of Nepal's industries in the last fiscal year (FY) 2079/80 was limited to 49.8 percent. In the previous year (FY 2078/79), the capacity utilization of the industries was 52.2 percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank's report also backs a recent report released by the private sector organization’s Confederation of Nepalese Industries. The report published by the confederation in early January of stated that there has not been any improvement in the country’s overall economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report mentioned that the investors’ morale was down due to decline in the overall demand and turnover of the industries, prompting the investors to stop making new investments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank has shown that the capacity utilization of the electricity generating industry was the highest at 86.2 percent last year. The capacity utilization of vegetable ghee production industry was the lowest (2.6 percent). Similarly, despite the cement industries of Nepal starting export to India, the capacity utilization of the cement industry declined due to the slowdown in the domestic construction sector.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The slowdown in the business of the construction industry has resulted in the decline in the capacity utilization of related industries that involve in production of construction materials like cement, iron rods, polythene pipes, steel, electric wires, GI pipes, etc. The capacity utilization of the cement industry, which was 46.06 percent in the year 2078/79, decreased to 44.44 percent in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dhurba Thapa, president of Nepal Cement Producers Association, the umbrella organization of cement industries, said that the capacity utilization has decreased due to the stalled construction work and the inability of the government to spend the budget. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Last year there was a 75 percent reduction in development and construction works," said Thapa, adding, "Due to this, the capacity utilization of all industries involved in producing construction materials decreased. This situation should not be repeated in the current year."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The effect of India's ban on wheat exports has affected the production capacity of Nepal's food industry. The impact of the Indian policy has also been seen in the industries producing vegetable ghee/oil. The capacity utilization of wheat flour industry, which was 50.74 percent in 2078/79, dropped to 38.46 percent in 2079/80.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's reduction in the customs duty imposed on the import of palm and soybean oil has resulted in a significant decrease in the export of refined oil from Nepal to India. In the last two years, due to the rapid decrease in the export of refined oil, the capacity utilization of soybean oil as well as vegetable ghee industry has been badly affected. The capacity utilization of soybean oil industry, which was 82.33 percent in the year 2078/79, dropped to 47.61 percent in the last fiscal year. Similarly, the report shows that the capacity utilization of vegetable ghee industry was limited to 2.59 percent last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average capacity utilization of industries in Gandaki, Karnali and Sudurpaschim provinces has increased, while the average capacity utilization of industries in Koshi, Madhesh, Bagmati and Lumbini provinces has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank shows an increase in the capacity utilization of industries that produce mustard oil, processed milk, rice, biscuits, sugar, processed tea, soft drinks, synthetic fabrics, garments, jute products, paper, capsules, ointments, dry syrup, plastic goods, bricks, GI wire, household metal wares, footwear and electronic goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, there has been a decline in capacity utilization of industries that produce vegetable ghee, soybean oil, wheat flour, chocolate, animal feed, noodles, beer, cigarettes, yarn, raw hide, wood, plywood, rosin, dyes, tablet medicine, soap, iron bars and sheets, steel products, GI pipes, polythene pipes, bricks, electric wires, tires and tubes, textile and shoes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the Central Bank has suggested all stakeholders to reduce the cost of establishment and operation of the latest industries, and to effectively manage and expand the industrial zones/corridors and special economic zones. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report also points out the need to increase the production and consumption of domestic industrial raw materials and make the industrial supply chain effective.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report has pointed out the need to attract foreign investment in the industrial sector. It also suggested developing minimum infrastructure such as roads, electricity, communication, transfer of technology and enhancement of management capacity to create an investment-friendly environment.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, there are still challenges in the industrial sector such as ensuring the availability of skilled labor by preventing the brain drain of semi-skilled and skilled manpower, and increasing investment in export-oriented industries with comparative advantage and competitive ability through the creation of an investment-friendly environment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19749', 'image' => '20240119022408_indus.jpg', 'article_date' => '2024-01-19 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '20042', 'article_category_id' => '1', 'title' => 'Special Court Convicts Ichharaj Tamang in Money Laundering Case', 'sub_title' => '', 'summary' => 'January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering case.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering case.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Special Court on Sunday convicted Tamang along with his wife. A division bench of Special Court chairperson Tek Narayan Kunwar and judges Hem Narayan Singh Rai and Murari Babu Shrestha convicted four people including Tamang. The court also found Ichharaj Tamang’s wife Srijana and their relatives Keshavraj Shrestha and Meena Kumari Shrestha guilty. Ichcharaj's two daughters Pratishka and Pratishta were acquitted by the court.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Special Court’s spokesperson Dhan Bahadur Karki, a separate bench on February 4 will decide on their punishment. Legal professionals have estimated that Tamang may be sentenced to more than three years in prison.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against Ichcharaj along with his wife Srjana and two daughters Pratishka and Pratishtha on charges of money laundering on September 1, 2022. The case was filed alleging the Tamang family of illegally investing the funds of the cooperative in their private companies and investing the profits elsewhere. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Tamang couple invested the amount deposited in the cooperative in other companies owned by Ichharaj and his family. After Tamang failed to repay the principal and interest, the cooperative went bankrupt and was unable to return the money to the depositors. About 1,400 people who deposited their money in the cooperative are yet to receive their money back.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The department had filed a charge-sheet against Tamang alleging him of illegally amassing assets worth over Rs 3.31 billion. The has demanded recovery of Rs 3.318 billion for the alleged illegal acquisition, with additional claims of Rs 1.30 billion against his wife Srijana, Rs 62.2 million against daughter Pratikchya, and Rs 1.89 million against Pratistha. According to the charge-sheet, the Tamang family has to pay a total amount of Rs 4.43 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By the time the case was filed, Tamang’s wife Srijana had already divorced her husband.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Initially, the investigation against Tamang was undertaken by the Central Bureau of Investigation after receiving a complaint in a fraud case. During the investigation, the CIB forwarded the file to the department after he was found involved in money laundering.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19769', 'image' => '20240122121403_Ichha-Raj-Tamang.jpg', 'article_date' => '2024-01-22 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20041', 'article_category_id' => '1', 'title' => 'NRB Governor Advises Agricultural Development Bank to Diversify its Services ', 'sub_title' => '', 'summary' => 'January 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. ', '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: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. </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 his address to the 57th anniversary of the Agricultural Development Bank on Sunday, the NRB governor advised the bank to utilise the available financial resources for the growth of agricultural production, import minimization and export promotion. </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 agricultural sector has a huge potential. It can help address the gap in supplies and price chain. It can extend its access to farmers and workers deprived of financial services and the marginalised community," he said. He also stressed on the need for the bank to diversity its services. </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"">Chairman the Board of Directors of the bank Ram Sharan Pudasaini said the bank had achieved success despite a sluggish economy in the nation and in the world. </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 bank is competent to successfully manage the potential systemic risk in the banking sector," he said. </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"">Poverty alleviation, small farmers' development programme, rural and agricultural development and micro finance services for rural and indigenous community are the special concerns of the bank, according to him. </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 bank was established on January 21, 1968 under the ADBN Act 1967 with the main objective of providing institutional credit for enhancing the production and productivity of the agricultural sector in the country.</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 bank was established in 2041 BS. On the occasion of its anniversary, it announced 11 percent cash dividend and two percent bonus share for its shareholders from the profit of the fiscal year, 2021/22. </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"">During the last fiscal year, the bank’s operational profit was Rs 4.82 billion while the deposit collection amounted to over Rs 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 percent. The bank’s issued and paid-up capital stands at Rs 18.62 billion and 51 percent of its share is owned by the government. (With inputs from RSS)</span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19768', 'image' => '20240122113100_aagri bank.jpg', 'article_date' => '2024-01-22 11:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20040', 'article_category_id' => '1', 'title' => 'Training Program Held to Train Local Chinese Teachers at LRI School', 'sub_title' => '', 'summary' => 'The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 21: The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event saw the participation of Wang Xin, the Political Counsellor of the Chinese Embassy in Nepal, Yub Raj Dahal, Officer of the District Education Coordination Unit in Kathmandu, and other guests at the Confucius Classroom of LRI School.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The training aimed to empower local Chinese language teachers in Nepal involved in international Chinese education. The program offered a valuable opportunity for these educators to enhance their professional skills and deepen their understanding of Chinese culture. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ultimate goal was to contribute significantly to development of Chinese education in Nepal.</span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19767', 'image' => '20240121032511_collage (22).jpg', 'article_date' => '2024-01-21 15:23:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20039', 'article_category_id' => '1', 'title' => 'Number of Taxpayers up in KMC ', 'sub_title' => '', 'summary' => 'January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers was 324,120 in the last fiscal year, which has increased to 343,340 in the current fiscal year, said Dhruba Kafle, the chief of KMC's Revenue Department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Kafle, 35, 057 taxpayers have increased under the heading of 'rental taxpayers', 31,916 have been added under the heading of business taxpayers and 52,486 have added under the heading of property taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers has gone up in other tax headings as well. The metropolis' revenue collection has also significantly increased with the increase in the number of taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kafle said that KMC has collected approximately Rs 5 billion in revenue in the first half of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has been collecting revenue under 36 different headings, including property tax, house rent tax, business tax, advertisement tax, entertainment tax, land tax and VAT. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19766', 'image' => '20240121030339_QD3B58fDcaeg9xELQr7HHN.jpg', 'article_date' => '2024-01-21 15:00:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20038', 'article_category_id' => '1', 'title' => 'Government Initiates Discussion on Labour Migration Policy ', 'sub_title' => '', 'summary' => 'January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the discussion programme organized by the ministry, Labour Minister Sharat Singh Bhandari informed that government is preparing a policy on labour migration in order to make the domestic and foreign employment dignified. </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 policy is also essential for promoting and incorporating labour issues in the forthcoming five-year plan and making this sector systematic, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Kewal Prasad Bhandari informed that the draft would be amended based on the suggestions received by the taskforce. The ministry is effortful to ensure health and social security as major agenda in the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The stakeholders and experts provided suggestions during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed a taskforce under the coordination of labour expert Dr Ganesh Gurung to draft the labour migration policy. The taskforce has begun discussion on the draft policy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19765', 'image' => '20240121025530_foreign emp.jpg', 'article_date' => '2024-01-21 14:54:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20036', 'article_category_id' => '1', 'title' => 'Global Economic Outlook Shadowed with Uncertainty: WEF ', 'sub_title' => '', 'summary' => 'January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a panel discussion on the global economic outlook on Friday at the World Economic Forum (WEF) in Davos, Switzerland, Lagarde said there are indications that consumption, usually a driving force for growth, is not as strong as it used to be. She attributed this trend to dwindling savings in practically all advanced economies, representing a drop from 10 percent to "virtually zero." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the latest Chief Economists Outlook released by the WEF, 56 percent of chief economists expect the global economy to weaken in 2024, while a strong majority have predicted loosening labor markets and financial conditions in the coming year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Trade, however, is starting to normalize, according to Lagarde. "Trade went down and was massively disrupted...in the two years preceding 2023, but it is beginning to really pick up," Lagarde said. She added that in October, global trade numbers were up for the first time in many months. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another sign of normalization is that - except for the euro area - headline inflation and core inflation are coming down globally. Germany Finance Minister Christian Lindner acknowledged the economic difficulties his country is currently facing after a long period of strong growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The eurozone's largest economy contracted by 0.3 percent last year amid persistent inflation, high energy prices and weak foreign demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Lindner, however, refuted claims that Germany is the sick man of Europe, saying it is only "a tired man" who needed a "good cup of coffee, which means structural reforms." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that the year 2023 was "a call for action" and said challenges include the rise of artificial intelligence and the threat of fragmentation in the global economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala expressed concerns about political developments in the Red Sea area and the Suez Canal, as well as the Panama Canal which has been reeling from the effects of climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">She said goods trade was considerably down in 2023, forcing the WTO to revise its forecast from 1.7 percent to 0.8 percent. In the last quarter of 2023, however, trade showed a recovery, led by automobiles, components and parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"We have been more optimistic about 2024, forecasting a considerable recovery to 3.3 percent. We may be moving towards normalization but not normal because trade growth is still trending below GDP growth," she noted. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But looming uncertainties have made forecasting difficult, she said. "However, I will take a bit of a risk and say that 2024 will be better than 2023 unless a major war breaks out, then all bets are off," Okonjo-Iweala said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Singaporean President Tharman Shanmugaratnam, the biggest challenges to resilience are the slowly happening changes that threaten in a far more fundamental way. These included the shift in the global ecological balance, the aging of societies "which we are by and large not prepared for", and the gradual shift towards polarization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In his closing remarks on Friday, WEF President Borge Brende called for global cooperation to fight today's challenges. "In an uncertain and challenging time, one thing is clear: we can shape a more resilient, sustainable and equitable future, but the only way to do so is together." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entitled "Rebuilding Trust," the five-day WEF annual meeting focused on four priorities: achieving security and cooperation in a fractured world; creating growth and jobs for a new era; harnessing artificial intelligence as a driving force for the economy and society, and formulating a long-term strategy for climate, nature, and energy. – Xinhua/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19763', 'image' => '20240121015403_ouylook.jpg', 'article_date' => '2024-01-21 13:53:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20033', 'article_category_id' => '1', 'title' => 'Govt Requires more than Rs 6200 Billion in 12 Years to Produce 28,500 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet made this announcement at a recent programme held in Kathmandu on the occasion of the 24th anniversary of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Until a few years ago, our major concern was that if we could properly utilize the electricity that we produce. But that fear has disappeared with India signing an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years," Minister Basnet said, adding, “Selling electricity is not a big problem now. Therefore, it is not unrealistic to produce 28, 500 megawatts of electricity in this context.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders, however say that the government alone cannot achieve this ambitious plan. They have requested the government to encourage the private sector by amending the laws and policies related to energy production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Ganesh Karki, president of IPPAN, said that the energy sector is the only basis for the economic prosperity of the country, and there is a need to revise the policies. "Currently, the coordination of one or two agencies is not enough to solve the problem of electricity generation. There is a compulsion to coordinate with 14 different ministries for power generation," President Karki said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The law itself should be amended to facilitate all the complicated processes. The government's plan will be successful only if all the work can be done by the Ministry of Energy itself. If this arrangement is not made, the country will not be able to generate 10,000 megawatts of electricity in 12 years.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the last one decade, Nepal’s installed capacity of electricity increased from 800 megawatts to 2900 megawatts. It includes 2,154 megawatts of electricity from 167 projects of the private sector. According to IPPAN data, more than 76 percent of Nepal's electricity grid capacity is contributed by the private sector. Likewise, the access to electricity has increased from 55 percent to 98 percent during this period.</span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rs 6217 billion required to meet the target</span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. The government plans to contribute USD 6 billion dollars and raise investment of USD 10 billion from domestic banks and financial institutions, USD 8 billion from the Nepal Electricity Authority and USD 2 billion from the Climate Fund. Similarly, the government plans to raise USD 12 billion from Nepalis employed in foreign countries and non-resident Nepalis and USD 8.5 billion through foreign investment, grants and loans. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19760', 'image' => '20240121113128_electricity.jpg', 'article_date' => '2024-01-21 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20032', 'article_category_id' => '1', 'title' => 'Number of Nepalis Visiting Europe for Employment Declines Marginally', 'sub_title' => '', 'summary' => 'January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. In the first six months of the current fiscal year (FY), the number of Nepalis visiting Europe for foreign employment has decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">1.47</span> percent 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"">According to the data released recently by the Department of Foreign Employment, <span style="font-family:"Arial Unicode MS","sans-serif"">23,655</span> Nepalis traveled to European countries for employment as of mid-January of the current fiscal year. During the same period of last year, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">24</span>,00<span style="font-family:"Arial Unicode MS","sans-serif"">8</span> Nepalis went to Europe for employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Statistics show that Nepali migrant workers prefer European countries like Croatia, Malta, Cyprus, Poland, and the UK for foreign employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Data show that the number of Nepalis going to Romania, Poland, UK and other countries has decreased this year compared to last year. Meanwhile, the number of Nepalis visiting Cyprus, Austria, Albania, Russia has increased in the first six months of 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"">Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">983</span> Nepalis went to Croatia in the first six months of the previous year while <span style="font-family:"Arial Unicode MS","sans-serif"">6</span>, 0<span style="font-family:"Arial Unicode MS","sans-serif"">24</span> people went to Croatia during the same period this year. Last year, <span style="font-family:"Arial Unicode MS","sans-serif"">4</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">508</span> Nepalis visited Malta as of mid-January, but this year <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">935</span> people went to Malta. It seems that the number of people going to Cyprus has increased to <span style="font-family:"Arial Unicode MS","sans-serif"">2,692</span> this year from <span style="font-family:"Arial Unicode MS","sans-serif"">2,304</span> last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of people visiting Israel is also less than half compared to the last FY. As of last year, <span style="font-family:"Arial Unicode MS","sans-serif"">887</span> Nepalis went to Israel but the number is only <span style="font-family:"Arial Unicode MS","sans-serif"">400</span> this year<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>After Hamas militants attacked Israel in October, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">254</span> Nepalis returned home on a chartered plane sent by the government.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of Nepalis traveling to Russia has increased this year compared to the previous year. Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">146</span> Nepalis had gone to Russia as of mid-January of last FY which increased to <span style="font-family:"Arial Unicode MS","sans-serif"">346</span> this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Russia is engaged in a war with Ukraine since almost two years. Many Nepali citizens have reportedly joined the Russian army for lucrative salary. However, the government data show that the number of Nepalis joining the Russian army has decreased significantly since last month after a number of Nepalis died in the war. The Government of Nepal has urged its citizens not to join any foreign military except a few armies that have been recruiting Nepalis since a long time.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19759', 'image' => '20240121113017_Moles - eu.jpg', 'article_date' => '2024-01-21 11:29:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20031', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 3.15 Billion in Royalty from Hydel Projects ', 'sub_title' => '', 'summary' => 'January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Electricity Authority (NEA) has been collecting the royalty amount on a regular basis as it keeps the royalty amount collected from the power developers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department of Electricity Development has asked some power developers to deposit the royalty amount as they were yet to clear their dues till the fiscal year 2079/080 BS, the Department's Director General Chiranjivi Chataut said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The projects failing to clear their dues would be charged by the NEA. As per the provision, the royalty amount would be provided to the affected communities at the local level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department has collected Rs 1.15 billion from license fees, Rs 8.7 million from penalty and confiscation and Rs 4.2 million from arrears. The Department collected Rs 4.31 billion plus in revenue in the fiscal year 2079/080. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department has collected Rs 595.5 million in royalty in the first six months of the current fiscal year while the amount from licensing is Rs 162.4 million. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19758', 'image' => '20240121104642_hydro.jpg', 'article_date' => '2024-01-21 10:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20030', 'article_category_id' => '1', 'title' => 'Locals Worry Over Fading Glacial Lake ', 'sub_title' => '', 'summary' => 'January 21: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. ', 'content' => '<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""> </span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2</span></span></span><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""><span style="font-size:18px">1</span></span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The glacier at his doorstep and the splendid nature are the memories of the past.</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 Gangpurna Lake located at an altitude of 3,820 meters has gradually turned into an arid land," he said expressing utmost despair. </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"">If the lake had persisted, it could help attract tourists, but in vain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghale recalls, "Even the Swiss geologist Toni Hagen had photographed the Gangapura Lake in 1957 which is widely used for publicity. Since then, the lake has been made a base of further study on geological structure and climate change impacts." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nearly nine-kilometer long glacier is receding every year. It has been studied by foreign research centres as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Shalik Ram Sigdel, a member of the research team, climate change, unusual avalanche and rainfall were causing existential threat to the lake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Visit-Manang campaigner Phurba Tamang said although new lakes like Tilicho and Gangapurna were being explored in Manang of late, the conservation of Gangapurna Lake must be kept in priority. The glacial lake, which is being studied for half a century, should not be left out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of local tourism campaigners including Phurba had found a new lake located 25 meters away from Chame. It was named Kajinsara Lake. Although the lake was publicized as the one located even above the Tilicho Lake, a scientific verification is awaited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the researchers' warning over the extinction of the lake and changes in nature, the rural municipality has allocated Rs 30 million to restore the glory of the pristine lake. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19757', 'image' => '20240121094717_2176216343_n.jpg', 'article_date' => '2024-01-21 09:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20029', 'article_category_id' => '1', 'title' => 'Police Ramp Up Use of Multiple Technologies in Crime Investigation', 'sub_title' => '', 'summary' => 'January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The use of modern technologies has helped police prove the authenticity of the evidence in the court when the accused deny their wrongdoings, according to the police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the Kathmandu Valley Police, SSP Dineshraj Mainali, shared that the Nepal Police has proceeded with its works in line with the policy of utilizing technology to optimize their performance. Considering the important role of modern technology in crime investigation, police have been maximizing the practice lately, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The Central Forensic Science Laboratory at Samakhusi, Kathmandu examines the evidence collected during the investigation of crimes. The lab has been conducting scientific testing and analysis of chemicals and narcotic drugs, explosive substances, toxicology, DNA, controversial documents, footprint and fingerprint analysis and scientific examination of photos among others, it was shared. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, polygraph machines are used to test whether the accused or crime suspects are lying or not. Postmortem is conducted at the Forensic Department of the Tribhuvan University Teaching Hospital and district hospitals to find out the cause of the death- whether it is due to murder and other causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The police have also digitalized many of its services to facilitate the service seekers. The police report can be accessed online within a few days from any part of the world, according to DIG Bhim Prasad Dhakal, the Central Spokesperson for the Nepal Police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Police also have their App through which the public can notify the police about the incidents of crime. Similarly, public can also play the role of 'police without uniform' by informing the police about criminal activities through the emergency numbers such as </span></span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">100, 103 and 104, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">To minimize road accidents and for effective traffic management, the traffic police have put in place CCTV cameras, traffic lights, street lights, road signs and signals, road markings, radar guns, breath analyzers, drug detection kits, GoPro cameras, voice recorders among others, informed Kathmandu Valley Traffic Police Office's Spokesperson Rajendra Prasad Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Efforts are underway to introduce vehicle scanners and other technologies at the main checkpoints of the Kathmandu Valley. Altogether 10 Automatic Number Plate Recognition Cameras are in use in the valley apart from 170 CCTV cameras.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, face-reading cameras have been installed in 10 places, cameras with video management based on AI have been installed at 150 places for effective traffic management, said Spokesperson Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19754', 'image' => '20240121090851_private-detective-is-investigating-modern-colored-vector-poster-2J6WTJ3-transformed - Copy.jpeg', 'article_date' => '2024-01-21 09:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20025', 'article_category_id' => '1', 'title' => 'Global Tourism to Reach Pre-Pandemic Levels in 2024: UN Tourism Agency', 'sub_title' => '', 'summary' => 'January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above 2019 levels," the Madrid-based agency said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Figures for last year showed that 1.3 billion tourists travelled abroad, 44 percent higher than in 2022 and 88 percent of the numbers in 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">UNTWO pointed to "a stronger recovery of Asian markets" but noted that the biggest rise was in the Middle East which was "the only region to overcome pre-pandemic levels with arrivals 22 percent above 2019".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Europe, the world's most visited region, also saw a strong performance with tourism reaching 94 percent of its 2019 figures, with African figures reaching 96 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relative terms, the Asia-Pacific region was the weakest with just 65 percent of pre-pandemic levels, despite China's lifting of health restrictions a year ago after a strict three-year zero-Covid strategy when it cut itself off from the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The latest UNWTO data underscores tourism's resilience and rapid recovery, with pre-pandemic numbers expected by the end of 2024," its Secretary-General Zurab Pololikashvili said in the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chinese tourism was expected to gather pace this year with Beijing offering visa-free travel for citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia until the end of November.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prediction for 2024, however, "remains subject to the pace of recovery in Asia and to the evolution of existing economic and geopolitical downside risks," it said, notably due to the Israel-Hamas war and the unsettled global economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Persisting inflation, high interest rates, volatile oil prices and disruptions to trade can continue to impact transport and accommodations costs in 2024," it warned. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-20', 'modified' => '2024-01-20', 'keywords' => 'Tourism, global, pandemic, UN, UNWTO', 'description' => '', 'sortorder' => '19752', 'image' => '20240120114403_20220828021403_Tourist.jpg', 'article_date' => '2024-01-20 11:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20024', 'article_category_id' => '1', 'title' => 'Majority of Listed Companies not in a Mood to Distribute Dividends to Shareholders', 'sub_title' => '', 'summary' => 'January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of <span style="font-family:"Arial Unicode MS","sans-serif"">249</span> companies listed in Nepal Stock Exchange (NEPSE), <span style="font-family:"Arial Unicode MS","sans-serif"">97</span> have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some companies are declaring dividends from the distributable profits up to the last fiscal year (FY) and some have already declared and endorsed it by the annual general meeting. Some companies have started informing through NEPSE that they have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year's recession has affected the profits of the companies. On the other hand, the listed companies have not been able to distribute dividends to the shareholders also due to regulatory restrictions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Bad loans of banks have affected various other sectors. Experts say that since this has directly affected the profit of the listed companies, such companies have not been able to distribute dividends to the shareholders. In the case of hydropower companies, most of them have just sold their shares to the general public and got listed in the secondary market of securities. Most of them have not even started producing electricity. This is the reason why they are not able to distribute dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Commercial Banks</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Five of the commercial banks listed in NEPSE have informed that they will not distribute dividends this year. Himalayan Bank, NMB Bank, Prime Commercial Bank, Kumari Bank and Nepal Bank have decided not to pay dividends. Three banks have not declared dividends yet. Nepal Investment Mega Bank, Prabhu Bank and Agriculture Development Bank have not declared dividend till now. The rest of the banks have declared dividends and passed them by the AGM.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Microfinance</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Most of the microfinance companies do not pay dividends. Among the listed microfinance companies, Himalayan, Gurans, Infinity, Laxmi, Sivaisi, Sadhana, Mero Microfinance, Ganapati, Mankamana Smart, Upakar, Samudayik, Forward, Nadep, Sabaiko, Unnati Sahakarya and Nerude Microfinance have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Gramin Bikas, Nirdhan Uthan, Kalika, Kisan and Dhaulagiri microfinance are also in the list of companies that have decided not to distribute dividends. So far, <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> microfinance companies have announced to distribute dividends from last year's profits.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Development Banks </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This year, only seven of the listed development banks have announced dividend for the investors. Jyoti, Kamna Seva, Sindhu and Saptakoshi development bank have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Narayani, Excel, Karnali, Corporate and Green development banks are yet to announce the decision regarding dividend and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Finance Companies</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, only three finance companies have declared dividends. Nepal, Goodwill, Samriddhi, Progressive, Pokhara and Guheshwari Merchant and Finance have decided not to distribute dividends. Similarly, Gorkhaz, Best, Janaki, Central, Multipurpose and Reliance Finance have not yet decided the date of dividend announcement and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hydropower</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the <span style="font-family:"Arial Unicode MS","sans-serif"">91</span> listed hydropower companies, only <span style="font-family:"Arial Unicode MS","sans-serif"">13</span> have proposed to distribute dividends. Forty-nine companies have held annual general meetings without announcing dividends. The remaining <span style="font-family:"Arial Unicode MS","sans-serif"">29</span> companies have not taken any decision regarding the annual general meeting and dividend so far.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Investment </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, five companies under the investment group have announced their annual general meeting. Four of them have declared dividends for the investors from the profits made during last year. NRN Infrastructure Bank has informed that it will not declare dividend. The date of dividend announcement and annual general meeting of the two companies is yet to be decided.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hotels and tourism </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Six companies under this group have announced their annual general meeting. Three of them have decided to distribute dividends to the investors. Three including Kalinchok Darshan, Chandragiri Hills and City Hotel have decided not to distribute dividends to the shareholders. </span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Production and processing </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Eight companies of this group have called their annual general meeting. Among them, six companies have announced to pay dividends to the investors. Two of them have decided not to distribute dividends. They include Bottlers Nepal Balaju and Sonapur Minerals and Oil Limited.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Other group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among other companies under the group, only Nepal Telecommunication Company has announced dividends. Three other companies have decided not to pay dividends. Muktinath Agricultural Company, Nepal Republic Media and Nepal Warehousing Company have decided not to pay dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Non-Life Insurance Group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among the listed non-life insurance companies, Prudential Insurance and Neco Insurance have decided not to distribute dividends from last year's profits. Nepal Insurance Company has announced dividend. Nine non-life insurance companies are yet to make a decision regarding the distribution of dividends.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19751', 'image' => '20240119033639_main-qimg-09d9905cfabf21f2993d3ff365455380-lq.jpg', 'article_date' => '2024-01-19 15:34:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20023', 'article_category_id' => '1', 'title' => 'Interest on Bank Loans also Starts Declining', 'sub_title' => '', 'summary' => 'January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Nepal Rastra Bank, the base rate and the interest rate of loans have been continuously declining along with the interest rate of deposits in the current iscal year (FY) 2080/81. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank has said that the average interest rate of deposits of commercial banks was 8 percent in mid-July of the current year, but it fell to 7.62 percent in mid-December. Similarly, when the average base rate fell from 10.11 percent to 9.64 percent, the interest on loans also fell from 12.24 percent to 11.85 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Deputy spokesperson of Nepal Rastra Bank Dr Dilliram Pokharel said, "Nepal Rastra Bank itself has encouraged the reduction of interest rates by reducing policy rates," he said, "It seems that banks are also reducing interest rates as liquidity has eased." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that there is excess liquidity in the market at present and the NRB is mopping liquidity, Pokharel said that the interest rates will drop further.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After liquidity eased in the financial system, the Nepal Bankers' Association decided to end the gentlemen’s agreement to fix uniform interest rates and decided to allow banks to fix the interest rates as per their wish.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As a result, the maximum interest rate of deposits of commercial banks fell below 8 percent in mid-January. In mid-January, 18 banks announced reduction in interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the instructions of the central bank, BFIs can set the base rate by adding 0.75 percent profit to the cost. Banks have to calculate the base rate on a monthly basis and submit it to the central bank within 7 days of the end of each month and publish it on their website. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks have been determining the interest rate on loans by adding a certain percentage premium to the base rate of the last three months. According to this arrangement, when the average base rate of the bank decreases every quarter, the interest rate of the loan automatically decreases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, commercial banks add a maximum of 5 percent premium to the base rate while determining the interest rate on loans. However, there is a provision that the premium specified in the loan agreement cannot be changed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19750', 'image' => '20240119030512_Banks - Copy.jpg', 'article_date' => '2024-01-19 15:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20022', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Declines: NRB Report', 'sub_title' => '', 'summary' => 'January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The production capacity of industries that produce food, oil, ghee, cement and steel among others are found to have declined.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The recently published 'Economic Activity Study Annual Report' of Nepal Rastra Bank has shown that the average capacity utilization of Nepal's industries in the last fiscal year (FY) 2079/80 was limited to 49.8 percent. In the previous year (FY 2078/79), the capacity utilization of the industries was 52.2 percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank's report also backs a recent report released by the private sector organization’s Confederation of Nepalese Industries. The report published by the confederation in early January of stated that there has not been any improvement in the country’s overall economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report mentioned that the investors’ morale was down due to decline in the overall demand and turnover of the industries, prompting the investors to stop making new investments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank has shown that the capacity utilization of the electricity generating industry was the highest at 86.2 percent last year. The capacity utilization of vegetable ghee production industry was the lowest (2.6 percent). Similarly, despite the cement industries of Nepal starting export to India, the capacity utilization of the cement industry declined due to the slowdown in the domestic construction sector.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The slowdown in the business of the construction industry has resulted in the decline in the capacity utilization of related industries that involve in production of construction materials like cement, iron rods, polythene pipes, steel, electric wires, GI pipes, etc. The capacity utilization of the cement industry, which was 46.06 percent in the year 2078/79, decreased to 44.44 percent in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dhurba Thapa, president of Nepal Cement Producers Association, the umbrella organization of cement industries, said that the capacity utilization has decreased due to the stalled construction work and the inability of the government to spend the budget. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Last year there was a 75 percent reduction in development and construction works," said Thapa, adding, "Due to this, the capacity utilization of all industries involved in producing construction materials decreased. This situation should not be repeated in the current year."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The effect of India's ban on wheat exports has affected the production capacity of Nepal's food industry. The impact of the Indian policy has also been seen in the industries producing vegetable ghee/oil. The capacity utilization of wheat flour industry, which was 50.74 percent in 2078/79, dropped to 38.46 percent in 2079/80.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's reduction in the customs duty imposed on the import of palm and soybean oil has resulted in a significant decrease in the export of refined oil from Nepal to India. In the last two years, due to the rapid decrease in the export of refined oil, the capacity utilization of soybean oil as well as vegetable ghee industry has been badly affected. The capacity utilization of soybean oil industry, which was 82.33 percent in the year 2078/79, dropped to 47.61 percent in the last fiscal year. Similarly, the report shows that the capacity utilization of vegetable ghee industry was limited to 2.59 percent last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average capacity utilization of industries in Gandaki, Karnali and Sudurpaschim provinces has increased, while the average capacity utilization of industries in Koshi, Madhesh, Bagmati and Lumbini provinces has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank shows an increase in the capacity utilization of industries that produce mustard oil, processed milk, rice, biscuits, sugar, processed tea, soft drinks, synthetic fabrics, garments, jute products, paper, capsules, ointments, dry syrup, plastic goods, bricks, GI wire, household metal wares, footwear and electronic goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, there has been a decline in capacity utilization of industries that produce vegetable ghee, soybean oil, wheat flour, chocolate, animal feed, noodles, beer, cigarettes, yarn, raw hide, wood, plywood, rosin, dyes, tablet medicine, soap, iron bars and sheets, steel products, GI pipes, polythene pipes, bricks, electric wires, tires and tubes, textile and shoes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the Central Bank has suggested all stakeholders to reduce the cost of establishment and operation of the latest industries, and to effectively manage and expand the industrial zones/corridors and special economic zones. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report also points out the need to increase the production and consumption of domestic industrial raw materials and make the industrial supply chain effective.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report has pointed out the need to attract foreign investment in the industrial sector. It also suggested developing minimum infrastructure such as roads, electricity, communication, transfer of technology and enhancement of management capacity to create an investment-friendly environment.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, there are still challenges in the industrial sector such as ensuring the availability of skilled labor by preventing the brain drain of semi-skilled and skilled manpower, and increasing investment in export-oriented industries with comparative advantage and competitive ability through the creation of an investment-friendly environment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19749', 'image' => '20240119022408_indus.jpg', 'article_date' => '2024-01-19 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '20042', 'article_category_id' => '1', 'title' => 'Special Court Convicts Ichharaj Tamang in Money Laundering Case', 'sub_title' => '', 'summary' => 'January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering case.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 22: The Special Court has found Ichharaj Tamang, the director of Civil Savings and Credit Co-operative Limited and former member of parliament, guilty in a money laundering case.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Special Court on Sunday convicted Tamang along with his wife. A division bench of Special Court chairperson Tek Narayan Kunwar and judges Hem Narayan Singh Rai and Murari Babu Shrestha convicted four people including Tamang. The court also found Ichharaj Tamang’s wife Srijana and their relatives Keshavraj Shrestha and Meena Kumari Shrestha guilty. Ichcharaj's two daughters Pratishka and Pratishta were acquitted by the court.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Special Court’s spokesperson Dhan Bahadur Karki, a separate bench on February 4 will decide on their punishment. Legal professionals have estimated that Tamang may be sentenced to more than three years in prison.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against Ichcharaj along with his wife Srjana and two daughters Pratishka and Pratishtha on charges of money laundering on September 1, 2022. The case was filed alleging the Tamang family of illegally investing the funds of the cooperative in their private companies and investing the profits elsewhere. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Tamang couple invested the amount deposited in the cooperative in other companies owned by Ichharaj and his family. After Tamang failed to repay the principal and interest, the cooperative went bankrupt and was unable to return the money to the depositors. About 1,400 people who deposited their money in the cooperative are yet to receive their money back.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The department had filed a charge-sheet against Tamang alleging him of illegally amassing assets worth over Rs 3.31 billion. The has demanded recovery of Rs 3.318 billion for the alleged illegal acquisition, with additional claims of Rs 1.30 billion against his wife Srijana, Rs 62.2 million against daughter Pratikchya, and Rs 1.89 million against Pratistha. According to the charge-sheet, the Tamang family has to pay a total amount of Rs 4.43 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By the time the case was filed, Tamang’s wife Srijana had already divorced her husband.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Initially, the investigation against Tamang was undertaken by the Central Bureau of Investigation after receiving a complaint in a fraud case. During the investigation, the CIB forwarded the file to the department after he was found involved in money laundering.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19769', 'image' => '20240122121403_Ichha-Raj-Tamang.jpg', 'article_date' => '2024-01-22 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20041', 'article_category_id' => '1', 'title' => 'NRB Governor Advises Agricultural Development Bank to Diversify its Services ', 'sub_title' => '', 'summary' => 'January 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. ', '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: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. </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 his address to the 57th anniversary of the Agricultural Development Bank on Sunday, the NRB governor advised the bank to utilise the available financial resources for the growth of agricultural production, import minimization and export promotion. </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 agricultural sector has a huge potential. It can help address the gap in supplies and price chain. It can extend its access to farmers and workers deprived of financial services and the marginalised community," he said. He also stressed on the need for the bank to diversity its services. </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"">Chairman the Board of Directors of the bank Ram Sharan Pudasaini said the bank had achieved success despite a sluggish economy in the nation and in the world. </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 bank is competent to successfully manage the potential systemic risk in the banking sector," he said. </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"">Poverty alleviation, small farmers' development programme, rural and agricultural development and micro finance services for rural and indigenous community are the special concerns of the bank, according to him. </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 bank was established on January 21, 1968 under the ADBN Act 1967 with the main objective of providing institutional credit for enhancing the production and productivity of the agricultural sector in the country.</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 bank was established in 2041 BS. On the occasion of its anniversary, it announced 11 percent cash dividend and two percent bonus share for its shareholders from the profit of the fiscal year, 2021/22. </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"">During the last fiscal year, the bank’s operational profit was Rs 4.82 billion while the deposit collection amounted to over Rs 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 percent. The bank’s issued and paid-up capital stands at Rs 18.62 billion and 51 percent of its share is owned by the government. (With inputs from RSS)</span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19768', 'image' => '20240122113100_aagri bank.jpg', 'article_date' => '2024-01-22 11:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20040', 'article_category_id' => '1', 'title' => 'Training Program Held to Train Local Chinese Teachers at LRI School', 'sub_title' => '', 'summary' => 'The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 21: The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event saw the participation of Wang Xin, the Political Counsellor of the Chinese Embassy in Nepal, Yub Raj Dahal, Officer of the District Education Coordination Unit in Kathmandu, and other guests at the Confucius Classroom of LRI School.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The training aimed to empower local Chinese language teachers in Nepal involved in international Chinese education. The program offered a valuable opportunity for these educators to enhance their professional skills and deepen their understanding of Chinese culture. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ultimate goal was to contribute significantly to development of Chinese education in Nepal.</span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19767', 'image' => '20240121032511_collage (22).jpg', 'article_date' => '2024-01-21 15:23:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20039', 'article_category_id' => '1', 'title' => 'Number of Taxpayers up in KMC ', 'sub_title' => '', 'summary' => 'January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers was 324,120 in the last fiscal year, which has increased to 343,340 in the current fiscal year, said Dhruba Kafle, the chief of KMC's Revenue Department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Kafle, 35, 057 taxpayers have increased under the heading of 'rental taxpayers', 31,916 have been added under the heading of business taxpayers and 52,486 have added under the heading of property taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers has gone up in other tax headings as well. The metropolis' revenue collection has also significantly increased with the increase in the number of taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kafle said that KMC has collected approximately Rs 5 billion in revenue in the first half of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has been collecting revenue under 36 different headings, including property tax, house rent tax, business tax, advertisement tax, entertainment tax, land tax and VAT. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19766', 'image' => '20240121030339_QD3B58fDcaeg9xELQr7HHN.jpg', 'article_date' => '2024-01-21 15:00:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20038', 'article_category_id' => '1', 'title' => 'Government Initiates Discussion on Labour Migration Policy ', 'sub_title' => '', 'summary' => 'January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the discussion programme organized by the ministry, Labour Minister Sharat Singh Bhandari informed that government is preparing a policy on labour migration in order to make the domestic and foreign employment dignified. </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 policy is also essential for promoting and incorporating labour issues in the forthcoming five-year plan and making this sector systematic, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Kewal Prasad Bhandari informed that the draft would be amended based on the suggestions received by the taskforce. The ministry is effortful to ensure health and social security as major agenda in the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The stakeholders and experts provided suggestions during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed a taskforce under the coordination of labour expert Dr Ganesh Gurung to draft the labour migration policy. The taskforce has begun discussion on the draft policy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19765', 'image' => '20240121025530_foreign emp.jpg', 'article_date' => '2024-01-21 14:54:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20036', 'article_category_id' => '1', 'title' => 'Global Economic Outlook Shadowed with Uncertainty: WEF ', 'sub_title' => '', 'summary' => 'January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a panel discussion on the global economic outlook on Friday at the World Economic Forum (WEF) in Davos, Switzerland, Lagarde said there are indications that consumption, usually a driving force for growth, is not as strong as it used to be. She attributed this trend to dwindling savings in practically all advanced economies, representing a drop from 10 percent to "virtually zero." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the latest Chief Economists Outlook released by the WEF, 56 percent of chief economists expect the global economy to weaken in 2024, while a strong majority have predicted loosening labor markets and financial conditions in the coming year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Trade, however, is starting to normalize, according to Lagarde. "Trade went down and was massively disrupted...in the two years preceding 2023, but it is beginning to really pick up," Lagarde said. She added that in October, global trade numbers were up for the first time in many months. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another sign of normalization is that - except for the euro area - headline inflation and core inflation are coming down globally. Germany Finance Minister Christian Lindner acknowledged the economic difficulties his country is currently facing after a long period of strong growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The eurozone's largest economy contracted by 0.3 percent last year amid persistent inflation, high energy prices and weak foreign demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Lindner, however, refuted claims that Germany is the sick man of Europe, saying it is only "a tired man" who needed a "good cup of coffee, which means structural reforms." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that the year 2023 was "a call for action" and said challenges include the rise of artificial intelligence and the threat of fragmentation in the global economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala expressed concerns about political developments in the Red Sea area and the Suez Canal, as well as the Panama Canal which has been reeling from the effects of climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">She said goods trade was considerably down in 2023, forcing the WTO to revise its forecast from 1.7 percent to 0.8 percent. In the last quarter of 2023, however, trade showed a recovery, led by automobiles, components and parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"We have been more optimistic about 2024, forecasting a considerable recovery to 3.3 percent. We may be moving towards normalization but not normal because trade growth is still trending below GDP growth," she noted. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But looming uncertainties have made forecasting difficult, she said. "However, I will take a bit of a risk and say that 2024 will be better than 2023 unless a major war breaks out, then all bets are off," Okonjo-Iweala said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Singaporean President Tharman Shanmugaratnam, the biggest challenges to resilience are the slowly happening changes that threaten in a far more fundamental way. These included the shift in the global ecological balance, the aging of societies "which we are by and large not prepared for", and the gradual shift towards polarization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In his closing remarks on Friday, WEF President Borge Brende called for global cooperation to fight today's challenges. "In an uncertain and challenging time, one thing is clear: we can shape a more resilient, sustainable and equitable future, but the only way to do so is together." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entitled "Rebuilding Trust," the five-day WEF annual meeting focused on four priorities: achieving security and cooperation in a fractured world; creating growth and jobs for a new era; harnessing artificial intelligence as a driving force for the economy and society, and formulating a long-term strategy for climate, nature, and energy. – Xinhua/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19763', 'image' => '20240121015403_ouylook.jpg', 'article_date' => '2024-01-21 13:53:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20033', 'article_category_id' => '1', 'title' => 'Govt Requires more than Rs 6200 Billion in 12 Years to Produce 28,500 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet made this announcement at a recent programme held in Kathmandu on the occasion of the 24th anniversary of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Until a few years ago, our major concern was that if we could properly utilize the electricity that we produce. But that fear has disappeared with India signing an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years," Minister Basnet said, adding, “Selling electricity is not a big problem now. Therefore, it is not unrealistic to produce 28, 500 megawatts of electricity in this context.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders, however say that the government alone cannot achieve this ambitious plan. They have requested the government to encourage the private sector by amending the laws and policies related to energy production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Ganesh Karki, president of IPPAN, said that the energy sector is the only basis for the economic prosperity of the country, and there is a need to revise the policies. "Currently, the coordination of one or two agencies is not enough to solve the problem of electricity generation. There is a compulsion to coordinate with 14 different ministries for power generation," President Karki said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The law itself should be amended to facilitate all the complicated processes. The government's plan will be successful only if all the work can be done by the Ministry of Energy itself. If this arrangement is not made, the country will not be able to generate 10,000 megawatts of electricity in 12 years.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the last one decade, Nepal’s installed capacity of electricity increased from 800 megawatts to 2900 megawatts. It includes 2,154 megawatts of electricity from 167 projects of the private sector. According to IPPAN data, more than 76 percent of Nepal's electricity grid capacity is contributed by the private sector. Likewise, the access to electricity has increased from 55 percent to 98 percent during this period.</span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rs 6217 billion required to meet the target</span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. The government plans to contribute USD 6 billion dollars and raise investment of USD 10 billion from domestic banks and financial institutions, USD 8 billion from the Nepal Electricity Authority and USD 2 billion from the Climate Fund. Similarly, the government plans to raise USD 12 billion from Nepalis employed in foreign countries and non-resident Nepalis and USD 8.5 billion through foreign investment, grants and loans. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19760', 'image' => '20240121113128_electricity.jpg', 'article_date' => '2024-01-21 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20032', 'article_category_id' => '1', 'title' => 'Number of Nepalis Visiting Europe for Employment Declines Marginally', 'sub_title' => '', 'summary' => 'January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. In the first six months of the current fiscal year (FY), the number of Nepalis visiting Europe for foreign employment has decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">1.47</span> percent 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"">According to the data released recently by the Department of Foreign Employment, <span style="font-family:"Arial Unicode MS","sans-serif"">23,655</span> Nepalis traveled to European countries for employment as of mid-January of the current fiscal year. During the same period of last year, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">24</span>,00<span style="font-family:"Arial Unicode MS","sans-serif"">8</span> Nepalis went to Europe for employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Statistics show that Nepali migrant workers prefer European countries like Croatia, Malta, Cyprus, Poland, and the UK for foreign employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Data show that the number of Nepalis going to Romania, Poland, UK and other countries has decreased this year compared to last year. Meanwhile, the number of Nepalis visiting Cyprus, Austria, Albania, Russia has increased in the first six months of 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"">Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">983</span> Nepalis went to Croatia in the first six months of the previous year while <span style="font-family:"Arial Unicode MS","sans-serif"">6</span>, 0<span style="font-family:"Arial Unicode MS","sans-serif"">24</span> people went to Croatia during the same period this year. Last year, <span style="font-family:"Arial Unicode MS","sans-serif"">4</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">508</span> Nepalis visited Malta as of mid-January, but this year <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">935</span> people went to Malta. It seems that the number of people going to Cyprus has increased to <span style="font-family:"Arial Unicode MS","sans-serif"">2,692</span> this year from <span style="font-family:"Arial Unicode MS","sans-serif"">2,304</span> last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of people visiting Israel is also less than half compared to the last FY. As of last year, <span style="font-family:"Arial Unicode MS","sans-serif"">887</span> Nepalis went to Israel but the number is only <span style="font-family:"Arial Unicode MS","sans-serif"">400</span> this year<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>After Hamas militants attacked Israel in October, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">254</span> Nepalis returned home on a chartered plane sent by the government.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of Nepalis traveling to Russia has increased this year compared to the previous year. Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">146</span> Nepalis had gone to Russia as of mid-January of last FY which increased to <span style="font-family:"Arial Unicode MS","sans-serif"">346</span> this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Russia is engaged in a war with Ukraine since almost two years. Many Nepali citizens have reportedly joined the Russian army for lucrative salary. However, the government data show that the number of Nepalis joining the Russian army has decreased significantly since last month after a number of Nepalis died in the war. The Government of Nepal has urged its citizens not to join any foreign military except a few armies that have been recruiting Nepalis since a long time.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19759', 'image' => '20240121113017_Moles - eu.jpg', 'article_date' => '2024-01-21 11:29:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20031', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 3.15 Billion in Royalty from Hydel Projects ', 'sub_title' => '', 'summary' => 'January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Electricity Authority (NEA) has been collecting the royalty amount on a regular basis as it keeps the royalty amount collected from the power developers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department of Electricity Development has asked some power developers to deposit the royalty amount as they were yet to clear their dues till the fiscal year 2079/080 BS, the Department's Director General Chiranjivi Chataut said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The projects failing to clear their dues would be charged by the NEA. As per the provision, the royalty amount would be provided to the affected communities at the local level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department has collected Rs 1.15 billion from license fees, Rs 8.7 million from penalty and confiscation and Rs 4.2 million from arrears. The Department collected Rs 4.31 billion plus in revenue in the fiscal year 2079/080. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department has collected Rs 595.5 million in royalty in the first six months of the current fiscal year while the amount from licensing is Rs 162.4 million. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19758', 'image' => '20240121104642_hydro.jpg', 'article_date' => '2024-01-21 10:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20030', 'article_category_id' => '1', 'title' => 'Locals Worry Over Fading Glacial Lake ', 'sub_title' => '', 'summary' => 'January 21: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. ', 'content' => '<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""> </span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2</span></span></span><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""><span style="font-size:18px">1</span></span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The glacier at his doorstep and the splendid nature are the memories of the past.</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 Gangpurna Lake located at an altitude of 3,820 meters has gradually turned into an arid land," he said expressing utmost despair. </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"">If the lake had persisted, it could help attract tourists, but in vain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghale recalls, "Even the Swiss geologist Toni Hagen had photographed the Gangapura Lake in 1957 which is widely used for publicity. Since then, the lake has been made a base of further study on geological structure and climate change impacts." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nearly nine-kilometer long glacier is receding every year. It has been studied by foreign research centres as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Shalik Ram Sigdel, a member of the research team, climate change, unusual avalanche and rainfall were causing existential threat to the lake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Visit-Manang campaigner Phurba Tamang said although new lakes like Tilicho and Gangapurna were being explored in Manang of late, the conservation of Gangapurna Lake must be kept in priority. The glacial lake, which is being studied for half a century, should not be left out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of local tourism campaigners including Phurba had found a new lake located 25 meters away from Chame. It was named Kajinsara Lake. Although the lake was publicized as the one located even above the Tilicho Lake, a scientific verification is awaited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the researchers' warning over the extinction of the lake and changes in nature, the rural municipality has allocated Rs 30 million to restore the glory of the pristine lake. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19757', 'image' => '20240121094717_2176216343_n.jpg', 'article_date' => '2024-01-21 09:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20029', 'article_category_id' => '1', 'title' => 'Police Ramp Up Use of Multiple Technologies in Crime Investigation', 'sub_title' => '', 'summary' => 'January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The use of modern technologies has helped police prove the authenticity of the evidence in the court when the accused deny their wrongdoings, according to the police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the Kathmandu Valley Police, SSP Dineshraj Mainali, shared that the Nepal Police has proceeded with its works in line with the policy of utilizing technology to optimize their performance. Considering the important role of modern technology in crime investigation, police have been maximizing the practice lately, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The Central Forensic Science Laboratory at Samakhusi, Kathmandu examines the evidence collected during the investigation of crimes. The lab has been conducting scientific testing and analysis of chemicals and narcotic drugs, explosive substances, toxicology, DNA, controversial documents, footprint and fingerprint analysis and scientific examination of photos among others, it was shared. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, polygraph machines are used to test whether the accused or crime suspects are lying or not. Postmortem is conducted at the Forensic Department of the Tribhuvan University Teaching Hospital and district hospitals to find out the cause of the death- whether it is due to murder and other causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The police have also digitalized many of its services to facilitate the service seekers. The police report can be accessed online within a few days from any part of the world, according to DIG Bhim Prasad Dhakal, the Central Spokesperson for the Nepal Police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Police also have their App through which the public can notify the police about the incidents of crime. Similarly, public can also play the role of 'police without uniform' by informing the police about criminal activities through the emergency numbers such as </span></span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">100, 103 and 104, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">To minimize road accidents and for effective traffic management, the traffic police have put in place CCTV cameras, traffic lights, street lights, road signs and signals, road markings, radar guns, breath analyzers, drug detection kits, GoPro cameras, voice recorders among others, informed Kathmandu Valley Traffic Police Office's Spokesperson Rajendra Prasad Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Efforts are underway to introduce vehicle scanners and other technologies at the main checkpoints of the Kathmandu Valley. Altogether 10 Automatic Number Plate Recognition Cameras are in use in the valley apart from 170 CCTV cameras.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, face-reading cameras have been installed in 10 places, cameras with video management based on AI have been installed at 150 places for effective traffic management, said Spokesperson Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19754', 'image' => '20240121090851_private-detective-is-investigating-modern-colored-vector-poster-2J6WTJ3-transformed - Copy.jpeg', 'article_date' => '2024-01-21 09:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20025', 'article_category_id' => '1', 'title' => 'Global Tourism to Reach Pre-Pandemic Levels in 2024: UN Tourism Agency', 'sub_title' => '', 'summary' => 'January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above 2019 levels," the Madrid-based agency said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Figures for last year showed that 1.3 billion tourists travelled abroad, 44 percent higher than in 2022 and 88 percent of the numbers in 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">UNTWO pointed to "a stronger recovery of Asian markets" but noted that the biggest rise was in the Middle East which was "the only region to overcome pre-pandemic levels with arrivals 22 percent above 2019".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Europe, the world's most visited region, also saw a strong performance with tourism reaching 94 percent of its 2019 figures, with African figures reaching 96 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relative terms, the Asia-Pacific region was the weakest with just 65 percent of pre-pandemic levels, despite China's lifting of health restrictions a year ago after a strict three-year zero-Covid strategy when it cut itself off from the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The latest UNWTO data underscores tourism's resilience and rapid recovery, with pre-pandemic numbers expected by the end of 2024," its Secretary-General Zurab Pololikashvili said in the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chinese tourism was expected to gather pace this year with Beijing offering visa-free travel for citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia until the end of November.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prediction for 2024, however, "remains subject to the pace of recovery in Asia and to the evolution of existing economic and geopolitical downside risks," it said, notably due to the Israel-Hamas war and the unsettled global economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Persisting inflation, high interest rates, volatile oil prices and disruptions to trade can continue to impact transport and accommodations costs in 2024," it warned. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-20', 'modified' => '2024-01-20', 'keywords' => 'Tourism, global, pandemic, UN, UNWTO', 'description' => '', 'sortorder' => '19752', 'image' => '20240120114403_20220828021403_Tourist.jpg', 'article_date' => '2024-01-20 11:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20024', 'article_category_id' => '1', 'title' => 'Majority of Listed Companies not in a Mood to Distribute Dividends to Shareholders', 'sub_title' => '', 'summary' => 'January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of <span style="font-family:"Arial Unicode MS","sans-serif"">249</span> companies listed in Nepal Stock Exchange (NEPSE), <span style="font-family:"Arial Unicode MS","sans-serif"">97</span> have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some companies are declaring dividends from the distributable profits up to the last fiscal year (FY) and some have already declared and endorsed it by the annual general meeting. Some companies have started informing through NEPSE that they have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year's recession has affected the profits of the companies. On the other hand, the listed companies have not been able to distribute dividends to the shareholders also due to regulatory restrictions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Bad loans of banks have affected various other sectors. Experts say that since this has directly affected the profit of the listed companies, such companies have not been able to distribute dividends to the shareholders. In the case of hydropower companies, most of them have just sold their shares to the general public and got listed in the secondary market of securities. Most of them have not even started producing electricity. This is the reason why they are not able to distribute dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Commercial Banks</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Five of the commercial banks listed in NEPSE have informed that they will not distribute dividends this year. Himalayan Bank, NMB Bank, Prime Commercial Bank, Kumari Bank and Nepal Bank have decided not to pay dividends. Three banks have not declared dividends yet. Nepal Investment Mega Bank, Prabhu Bank and Agriculture Development Bank have not declared dividend till now. The rest of the banks have declared dividends and passed them by the AGM.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Microfinance</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Most of the microfinance companies do not pay dividends. Among the listed microfinance companies, Himalayan, Gurans, Infinity, Laxmi, Sivaisi, Sadhana, Mero Microfinance, Ganapati, Mankamana Smart, Upakar, Samudayik, Forward, Nadep, Sabaiko, Unnati Sahakarya and Nerude Microfinance have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Gramin Bikas, Nirdhan Uthan, Kalika, Kisan and Dhaulagiri microfinance are also in the list of companies that have decided not to distribute dividends. So far, <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> microfinance companies have announced to distribute dividends from last year's profits.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Development Banks </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This year, only seven of the listed development banks have announced dividend for the investors. Jyoti, Kamna Seva, Sindhu and Saptakoshi development bank have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Narayani, Excel, Karnali, Corporate and Green development banks are yet to announce the decision regarding dividend and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Finance Companies</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, only three finance companies have declared dividends. Nepal, Goodwill, Samriddhi, Progressive, Pokhara and Guheshwari Merchant and Finance have decided not to distribute dividends. Similarly, Gorkhaz, Best, Janaki, Central, Multipurpose and Reliance Finance have not yet decided the date of dividend announcement and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hydropower</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the <span style="font-family:"Arial Unicode MS","sans-serif"">91</span> listed hydropower companies, only <span style="font-family:"Arial Unicode MS","sans-serif"">13</span> have proposed to distribute dividends. Forty-nine companies have held annual general meetings without announcing dividends. The remaining <span style="font-family:"Arial Unicode MS","sans-serif"">29</span> companies have not taken any decision regarding the annual general meeting and dividend so far.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Investment </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, five companies under the investment group have announced their annual general meeting. Four of them have declared dividends for the investors from the profits made during last year. NRN Infrastructure Bank has informed that it will not declare dividend. The date of dividend announcement and annual general meeting of the two companies is yet to be decided.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hotels and tourism </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Six companies under this group have announced their annual general meeting. Three of them have decided to distribute dividends to the investors. Three including Kalinchok Darshan, Chandragiri Hills and City Hotel have decided not to distribute dividends to the shareholders. </span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Production and processing </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Eight companies of this group have called their annual general meeting. Among them, six companies have announced to pay dividends to the investors. Two of them have decided not to distribute dividends. They include Bottlers Nepal Balaju and Sonapur Minerals and Oil Limited.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Other group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among other companies under the group, only Nepal Telecommunication Company has announced dividends. Three other companies have decided not to pay dividends. Muktinath Agricultural Company, Nepal Republic Media and Nepal Warehousing Company have decided not to pay dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Non-Life Insurance Group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among the listed non-life insurance companies, Prudential Insurance and Neco Insurance have decided not to distribute dividends from last year's profits. Nepal Insurance Company has announced dividend. Nine non-life insurance companies are yet to make a decision regarding the distribution of dividends.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19751', 'image' => '20240119033639_main-qimg-09d9905cfabf21f2993d3ff365455380-lq.jpg', 'article_date' => '2024-01-19 15:34:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20023', 'article_category_id' => '1', 'title' => 'Interest on Bank Loans also Starts Declining', 'sub_title' => '', 'summary' => 'January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Nepal Rastra Bank, the base rate and the interest rate of loans have been continuously declining along with the interest rate of deposits in the current iscal year (FY) 2080/81. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank has said that the average interest rate of deposits of commercial banks was 8 percent in mid-July of the current year, but it fell to 7.62 percent in mid-December. Similarly, when the average base rate fell from 10.11 percent to 9.64 percent, the interest on loans also fell from 12.24 percent to 11.85 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Deputy spokesperson of Nepal Rastra Bank Dr Dilliram Pokharel said, "Nepal Rastra Bank itself has encouraged the reduction of interest rates by reducing policy rates," he said, "It seems that banks are also reducing interest rates as liquidity has eased." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that there is excess liquidity in the market at present and the NRB is mopping liquidity, Pokharel said that the interest rates will drop further.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After liquidity eased in the financial system, the Nepal Bankers' Association decided to end the gentlemen’s agreement to fix uniform interest rates and decided to allow banks to fix the interest rates as per their wish.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As a result, the maximum interest rate of deposits of commercial banks fell below 8 percent in mid-January. In mid-January, 18 banks announced reduction in interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the instructions of the central bank, BFIs can set the base rate by adding 0.75 percent profit to the cost. Banks have to calculate the base rate on a monthly basis and submit it to the central bank within 7 days of the end of each month and publish it on their website. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks have been determining the interest rate on loans by adding a certain percentage premium to the base rate of the last three months. According to this arrangement, when the average base rate of the bank decreases every quarter, the interest rate of the loan automatically decreases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, commercial banks add a maximum of 5 percent premium to the base rate while determining the interest rate on loans. However, there is a provision that the premium specified in the loan agreement cannot be changed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19750', 'image' => '20240119030512_Banks - Copy.jpg', 'article_date' => '2024-01-19 15:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20022', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Declines: NRB Report', 'sub_title' => '', 'summary' => 'January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The production capacity of industries that produce food, oil, ghee, cement and steel among others are found to have declined.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The recently published 'Economic Activity Study Annual Report' of Nepal Rastra Bank has shown that the average capacity utilization of Nepal's industries in the last fiscal year (FY) 2079/80 was limited to 49.8 percent. In the previous year (FY 2078/79), the capacity utilization of the industries was 52.2 percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank's report also backs a recent report released by the private sector organization’s Confederation of Nepalese Industries. The report published by the confederation in early January of stated that there has not been any improvement in the country’s overall economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report mentioned that the investors’ morale was down due to decline in the overall demand and turnover of the industries, prompting the investors to stop making new investments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank has shown that the capacity utilization of the electricity generating industry was the highest at 86.2 percent last year. The capacity utilization of vegetable ghee production industry was the lowest (2.6 percent). Similarly, despite the cement industries of Nepal starting export to India, the capacity utilization of the cement industry declined due to the slowdown in the domestic construction sector.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The slowdown in the business of the construction industry has resulted in the decline in the capacity utilization of related industries that involve in production of construction materials like cement, iron rods, polythene pipes, steel, electric wires, GI pipes, etc. The capacity utilization of the cement industry, which was 46.06 percent in the year 2078/79, decreased to 44.44 percent in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dhurba Thapa, president of Nepal Cement Producers Association, the umbrella organization of cement industries, said that the capacity utilization has decreased due to the stalled construction work and the inability of the government to spend the budget. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Last year there was a 75 percent reduction in development and construction works," said Thapa, adding, "Due to this, the capacity utilization of all industries involved in producing construction materials decreased. This situation should not be repeated in the current year."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The effect of India's ban on wheat exports has affected the production capacity of Nepal's food industry. The impact of the Indian policy has also been seen in the industries producing vegetable ghee/oil. The capacity utilization of wheat flour industry, which was 50.74 percent in 2078/79, dropped to 38.46 percent in 2079/80.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's reduction in the customs duty imposed on the import of palm and soybean oil has resulted in a significant decrease in the export of refined oil from Nepal to India. In the last two years, due to the rapid decrease in the export of refined oil, the capacity utilization of soybean oil as well as vegetable ghee industry has been badly affected. The capacity utilization of soybean oil industry, which was 82.33 percent in the year 2078/79, dropped to 47.61 percent in the last fiscal year. Similarly, the report shows that the capacity utilization of vegetable ghee industry was limited to 2.59 percent last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average capacity utilization of industries in Gandaki, Karnali and Sudurpaschim provinces has increased, while the average capacity utilization of industries in Koshi, Madhesh, Bagmati and Lumbini provinces has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank shows an increase in the capacity utilization of industries that produce mustard oil, processed milk, rice, biscuits, sugar, processed tea, soft drinks, synthetic fabrics, garments, jute products, paper, capsules, ointments, dry syrup, plastic goods, bricks, GI wire, household metal wares, footwear and electronic goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, there has been a decline in capacity utilization of industries that produce vegetable ghee, soybean oil, wheat flour, chocolate, animal feed, noodles, beer, cigarettes, yarn, raw hide, wood, plywood, rosin, dyes, tablet medicine, soap, iron bars and sheets, steel products, GI pipes, polythene pipes, bricks, electric wires, tires and tubes, textile and shoes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the Central Bank has suggested all stakeholders to reduce the cost of establishment and operation of the latest industries, and to effectively manage and expand the industrial zones/corridors and special economic zones. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report also points out the need to increase the production and consumption of domestic industrial raw materials and make the industrial supply chain effective.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report has pointed out the need to attract foreign investment in the industrial sector. It also suggested developing minimum infrastructure such as roads, electricity, communication, transfer of technology and enhancement of management capacity to create an investment-friendly environment.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, there are still challenges in the industrial sector such as ensuring the availability of skilled labor by preventing the brain drain of semi-skilled and skilled manpower, and increasing investment in export-oriented industries with comparative advantage and competitive ability through the creation of an investment-friendly environment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19749', 'image' => '20240119022408_indus.jpg', 'article_date' => '2024-01-19 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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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A division bench of Special Court chairperson Tek Narayan Kunwar and judges Hem Narayan Singh Rai and Murari Babu Shrestha convicted four people including Tamang. The court also found Ichharaj Tamang’s wife Srijana and their relatives Keshavraj Shrestha and Meena Kumari Shrestha guilty. Ichcharaj's two daughters Pratishka and Pratishta were acquitted by the court.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Special Court’s spokesperson Dhan Bahadur Karki, a separate bench on February 4 will decide on their punishment. Legal professionals have estimated that Tamang may be sentenced to more than three years in prison.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against Ichcharaj along with his wife Srjana and two daughters Pratishka and Pratishtha on charges of money laundering on September 1, 2022. The case was filed alleging the Tamang family of illegally investing the funds of the cooperative in their private companies and investing the profits elsewhere. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Tamang couple invested the amount deposited in the cooperative in other companies owned by Ichharaj and his family. After Tamang failed to repay the principal and interest, the cooperative went bankrupt and was unable to return the money to the depositors. About 1,400 people who deposited their money in the cooperative are yet to receive their money back.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The department had filed a charge-sheet against Tamang alleging him of illegally amassing assets worth over Rs 3.31 billion. The has demanded recovery of Rs 3.318 billion for the alleged illegal acquisition, with additional claims of Rs 1.30 billion against his wife Srijana, Rs 62.2 million against daughter Pratikchya, and Rs 1.89 million against Pratistha. According to the charge-sheet, the Tamang family has to pay a total amount of Rs 4.43 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">By the time the case was filed, Tamang’s wife Srijana had already divorced her husband.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Initially, the investigation against Tamang was undertaken by the Central Bureau of Investigation after receiving a complaint in a fraud case. During the investigation, the CIB forwarded the file to the department after he was found involved in money laundering.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19769', 'image' => '20240122121403_Ichha-Raj-Tamang.jpg', 'article_date' => '2024-01-22 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20041', 'article_category_id' => '1', 'title' => 'NRB Governor Advises Agricultural Development Bank to Diversify its Services ', 'sub_title' => '', 'summary' => 'January 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. ', '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: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has advised the state-owned Agricultural Development Bank to increase investment in agricultural sector and focus on import substitution. </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 his address to the 57th anniversary of the Agricultural Development Bank on Sunday, the NRB governor advised the bank to utilise the available financial resources for the growth of agricultural production, import minimization and export promotion. </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 agricultural sector has a huge potential. It can help address the gap in supplies and price chain. It can extend its access to farmers and workers deprived of financial services and the marginalised community," he said. He also stressed on the need for the bank to diversity its services. </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"">Chairman the Board of Directors of the bank Ram Sharan Pudasaini said the bank had achieved success despite a sluggish economy in the nation and in the world. </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 bank is competent to successfully manage the potential systemic risk in the banking sector," he said. </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"">Poverty alleviation, small farmers' development programme, rural and agricultural development and micro finance services for rural and indigenous community are the special concerns of the bank, according to him. </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 bank was established on January 21, 1968 under the ADBN Act 1967 with the main objective of providing institutional credit for enhancing the production and productivity of the agricultural sector in the country.</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 bank was established in 2041 BS. On the occasion of its anniversary, it announced 11 percent cash dividend and two percent bonus share for its shareholders from the profit of the fiscal year, 2021/22. </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"">During the last fiscal year, the bank’s operational profit was Rs 4.82 billion while the deposit collection amounted to over Rs 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 percent. The bank’s issued and paid-up capital stands at Rs 18.62 billion and 51 percent of its share is owned by the government. (With inputs from RSS)</span></span></span></p> ', 'published' => true, 'created' => '2024-01-22', 'modified' => '2024-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '19768', 'image' => '20240122113100_aagri bank.jpg', 'article_date' => '2024-01-22 11:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20040', 'article_category_id' => '1', 'title' => 'Training Program Held to Train Local Chinese Teachers at LRI School', 'sub_title' => '', 'summary' => 'The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 21: The Centre for Language Education and Cooperation of the Ministry of Education of the People's Republic of China, in collaboration with Beijing International Chinese College, hosted a one-day "2024 Program of Experts Training Local Chinese Language Teachers in Nepal" at LRI School in Kathmandu on January 18. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event saw the participation of Wang Xin, the Political Counsellor of the Chinese Embassy in Nepal, Yub Raj Dahal, Officer of the District Education Coordination Unit in Kathmandu, and other guests at the Confucius Classroom of LRI School.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The training aimed to empower local Chinese language teachers in Nepal involved in international Chinese education. The program offered a valuable opportunity for these educators to enhance their professional skills and deepen their understanding of Chinese culture. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ultimate goal was to contribute significantly to development of Chinese education in Nepal.</span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19767', 'image' => '20240121032511_collage (22).jpg', 'article_date' => '2024-01-21 15:23:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20039', 'article_category_id' => '1', 'title' => 'Number of Taxpayers up in KMC ', 'sub_title' => '', 'summary' => 'January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The number of taxpayers has increased in the Kathmandu Metropolitan City (KMC) of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers was 324,120 in the last fiscal year, which has increased to 343,340 in the current fiscal year, said Dhruba Kafle, the chief of KMC's Revenue Department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Kafle, 35, 057 taxpayers have increased under the heading of 'rental taxpayers', 31,916 have been added under the heading of business taxpayers and 52,486 have added under the heading of property taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of taxpayers has gone up in other tax headings as well. The metropolis' revenue collection has also significantly increased with the increase in the number of taxpayers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kafle said that KMC has collected approximately Rs 5 billion in revenue in the first half of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has been collecting revenue under 36 different headings, including property tax, house rent tax, business tax, advertisement tax, entertainment tax, land tax and VAT. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19766', 'image' => '20240121030339_QD3B58fDcaeg9xELQr7HHN.jpg', 'article_date' => '2024-01-21 15:00:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20038', 'article_category_id' => '1', 'title' => 'Government Initiates Discussion on Labour Migration Policy ', 'sub_title' => '', 'summary' => 'January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The Ministry of Labour, Employment and Social Security has started discussion with experts and stakeholders on the initial draft of the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the discussion programme organized by the ministry, Labour Minister Sharat Singh Bhandari informed that government is preparing a policy on labour migration in order to make the domestic and foreign employment dignified. </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 policy is also essential for promoting and incorporating labour issues in the forthcoming five-year plan and making this sector systematic, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Kewal Prasad Bhandari informed that the draft would be amended based on the suggestions received by the taskforce. The ministry is effortful to ensure health and social security as major agenda in the labour migration policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The stakeholders and experts provided suggestions during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed a taskforce under the coordination of labour expert Dr Ganesh Gurung to draft the labour migration policy. The taskforce has begun discussion on the draft policy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19765', 'image' => '20240121025530_foreign emp.jpg', 'article_date' => '2024-01-21 14:54:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20036', 'article_category_id' => '1', 'title' => 'Global Economic Outlook Shadowed with Uncertainty: WEF ', 'sub_title' => '', 'summary' => 'January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The global economy is moving from normalization seen at the end of last year, to a new "non-normality", according to Christine Lagarde, president of the European Central Bank (ECB). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a panel discussion on the global economic outlook on Friday at the World Economic Forum (WEF) in Davos, Switzerland, Lagarde said there are indications that consumption, usually a driving force for growth, is not as strong as it used to be. She attributed this trend to dwindling savings in practically all advanced economies, representing a drop from 10 percent to "virtually zero." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the latest Chief Economists Outlook released by the WEF, 56 percent of chief economists expect the global economy to weaken in 2024, while a strong majority have predicted loosening labor markets and financial conditions in the coming year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Trade, however, is starting to normalize, according to Lagarde. "Trade went down and was massively disrupted...in the two years preceding 2023, but it is beginning to really pick up," Lagarde said. She added that in October, global trade numbers were up for the first time in many months. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another sign of normalization is that - except for the euro area - headline inflation and core inflation are coming down globally. Germany Finance Minister Christian Lindner acknowledged the economic difficulties his country is currently facing after a long period of strong growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The eurozone's largest economy contracted by 0.3 percent last year amid persistent inflation, high energy prices and weak foreign demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Lindner, however, refuted claims that Germany is the sick man of Europe, saying it is only "a tired man" who needed a "good cup of coffee, which means structural reforms." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that the year 2023 was "a call for action" and said challenges include the rise of artificial intelligence and the threat of fragmentation in the global economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala expressed concerns about political developments in the Red Sea area and the Suez Canal, as well as the Panama Canal which has been reeling from the effects of climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">She said goods trade was considerably down in 2023, forcing the WTO to revise its forecast from 1.7 percent to 0.8 percent. In the last quarter of 2023, however, trade showed a recovery, led by automobiles, components and parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"We have been more optimistic about 2024, forecasting a considerable recovery to 3.3 percent. We may be moving towards normalization but not normal because trade growth is still trending below GDP growth," she noted. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But looming uncertainties have made forecasting difficult, she said. "However, I will take a bit of a risk and say that 2024 will be better than 2023 unless a major war breaks out, then all bets are off," Okonjo-Iweala said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Singaporean President Tharman Shanmugaratnam, the biggest challenges to resilience are the slowly happening changes that threaten in a far more fundamental way. These included the shift in the global ecological balance, the aging of societies "which we are by and large not prepared for", and the gradual shift towards polarization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In his closing remarks on Friday, WEF President Borge Brende called for global cooperation to fight today's challenges. "In an uncertain and challenging time, one thing is clear: we can shape a more resilient, sustainable and equitable future, but the only way to do so is together." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entitled "Rebuilding Trust," the five-day WEF annual meeting focused on four priorities: achieving security and cooperation in a fractured world; creating growth and jobs for a new era; harnessing artificial intelligence as a driving force for the economy and society, and formulating a long-term strategy for climate, nature, and energy. – Xinhua/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19763', 'image' => '20240121015403_ouylook.jpg', 'article_date' => '2024-01-21 13:53:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20033', 'article_category_id' => '1', 'title' => 'Govt Requires more than Rs 6200 Billion in 12 Years to Produce 28,500 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 21: The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet made this announcement at a recent programme held in Kathmandu on the occasion of the 24th anniversary of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Until a few years ago, our major concern was that if we could properly utilize the electricity that we produce. But that fear has disappeared with India signing an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years," Minister Basnet said, adding, “Selling electricity is not a big problem now. Therefore, it is not unrealistic to produce 28, 500 megawatts of electricity in this context.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders, however say that the government alone cannot achieve this ambitious plan. They have requested the government to encourage the private sector by amending the laws and policies related to energy production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Ganesh Karki, president of IPPAN, said that the energy sector is the only basis for the economic prosperity of the country, and there is a need to revise the policies. "Currently, the coordination of one or two agencies is not enough to solve the problem of electricity generation. There is a compulsion to coordinate with 14 different ministries for power generation," President Karki said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The law itself should be amended to facilitate all the complicated processes. The government's plan will be successful only if all the work can be done by the Ministry of Energy itself. If this arrangement is not made, the country will not be able to generate 10,000 megawatts of electricity in 12 years.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the last one decade, Nepal’s installed capacity of electricity increased from 800 megawatts to 2900 megawatts. It includes 2,154 megawatts of electricity from 167 projects of the private sector. According to IPPAN data, more than 76 percent of Nepal's electricity grid capacity is contributed by the private sector. Likewise, the access to electricity has increased from 55 percent to 98 percent during this period.</span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rs 6217 billion required to meet the target</span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. The government plans to contribute USD 6 billion dollars and raise investment of USD 10 billion from domestic banks and financial institutions, USD 8 billion from the Nepal Electricity Authority and USD 2 billion from the Climate Fund. Similarly, the government plans to raise USD 12 billion from Nepalis employed in foreign countries and non-resident Nepalis and USD 8.5 billion through foreign investment, grants and loans. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19760', 'image' => '20240121113128_electricity.jpg', 'article_date' => '2024-01-21 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20032', 'article_category_id' => '1', 'title' => 'Number of Nepalis Visiting Europe for Employment Declines Marginally', 'sub_title' => '', 'summary' => 'January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 21: There has been a sharp decline in the number of Nepalis going to Europe for employment. In the first six months of the current fiscal year (FY), the number of Nepalis visiting Europe for foreign employment has decreased by <span style="font-family:"Arial Unicode MS","sans-serif"">1.47</span> percent 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"">According to the data released recently by the Department of Foreign Employment, <span style="font-family:"Arial Unicode MS","sans-serif"">23,655</span> Nepalis traveled to European countries for employment as of mid-January of the current fiscal year. During the same period of last year, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">24</span>,00<span style="font-family:"Arial Unicode MS","sans-serif"">8</span> Nepalis went to Europe for employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Statistics show that Nepali migrant workers prefer European countries like Croatia, Malta, Cyprus, Poland, and the UK for foreign employment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Data show that the number of Nepalis going to Romania, Poland, UK and other countries has decreased this year compared to last year. Meanwhile, the number of Nepalis visiting Cyprus, Austria, Albania, Russia has increased in the first six months of 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"">Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">983</span> Nepalis went to Croatia in the first six months of the previous year while <span style="font-family:"Arial Unicode MS","sans-serif"">6</span>, 0<span style="font-family:"Arial Unicode MS","sans-serif"">24</span> people went to Croatia during the same period this year. Last year, <span style="font-family:"Arial Unicode MS","sans-serif"">4</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">508</span> Nepalis visited Malta as of mid-January, but this year <span style="font-family:"Arial Unicode MS","sans-serif"">3</span>,<span style="font-family:"Arial Unicode MS","sans-serif"">935</span> people went to Malta. It seems that the number of people going to Cyprus has increased to <span style="font-family:"Arial Unicode MS","sans-serif"">2,692</span> this year from <span style="font-family:"Arial Unicode MS","sans-serif"">2,304</span> last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of people visiting Israel is also less than half compared to the last FY. As of last year, <span style="font-family:"Arial Unicode MS","sans-serif"">887</span> Nepalis went to Israel but the number is only <span style="font-family:"Arial Unicode MS","sans-serif"">400</span> this year<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>After Hamas militants attacked Israel in October, a total of <span style="font-family:"Arial Unicode MS","sans-serif"">254</span> Nepalis returned home on a chartered plane sent by the government.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The number of Nepalis traveling to Russia has increased this year compared to the previous year. Altogether <span style="font-family:"Arial Unicode MS","sans-serif"">146</span> Nepalis had gone to Russia as of mid-January of last FY which increased to <span style="font-family:"Arial Unicode MS","sans-serif"">346</span> this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Russia is engaged in a war with Ukraine since almost two years. Many Nepali citizens have reportedly joined the Russian army for lucrative salary. However, the government data show that the number of Nepalis joining the Russian army has decreased significantly since last month after a number of Nepalis died in the war. The Government of Nepal has urged its citizens not to join any foreign military except a few armies that have been recruiting Nepalis since a long time.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19759', 'image' => '20240121113017_Moles - eu.jpg', 'article_date' => '2024-01-21 11:29:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20031', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 3.15 Billion in Royalty from Hydel Projects ', 'sub_title' => '', 'summary' => 'January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government has collected over Rs 3.15 billion in royalty from different hydropower projects that are in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Electricity Authority (NEA) has been collecting the royalty amount on a regular basis as it keeps the royalty amount collected from the power developers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department of Electricity Development has asked some power developers to deposit the royalty amount as they were yet to clear their dues till the fiscal year 2079/080 BS, the Department's Director General Chiranjivi Chataut said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The projects failing to clear their dues would be charged by the NEA. As per the provision, the royalty amount would be provided to the affected communities at the local level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department has collected Rs 1.15 billion from license fees, Rs 8.7 million from penalty and confiscation and Rs 4.2 million from arrears. The Department collected Rs 4.31 billion plus in revenue in the fiscal year 2079/080. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Department has collected Rs 595.5 million in royalty in the first six months of the current fiscal year while the amount from licensing is Rs 162.4 million. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19758', 'image' => '20240121104642_hydro.jpg', 'article_date' => '2024-01-21 10:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20030', 'article_category_id' => '1', 'title' => 'Locals Worry Over Fading Glacial Lake ', 'sub_title' => '', 'summary' => 'January 21: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. ', 'content' => '<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""> </span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2</span></span></span><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif""><span style="font-size:18px">1</span></span></span><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">: Kalu Ghale, who was born and grown up at Bhraka village of Ngisyang rural municipality-5 in upper Manang, turns nostalgic seeing weird changes in nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The glacier at his doorstep and the splendid nature are the memories of the past.</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 Gangpurna Lake located at an altitude of 3,820 meters has gradually turned into an arid land," he said expressing utmost despair. </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"">If the lake had persisted, it could help attract tourists, but in vain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghale recalls, "Even the Swiss geologist Toni Hagen had photographed the Gangapura Lake in 1957 which is widely used for publicity. Since then, the lake has been made a base of further study on geological structure and climate change impacts." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nearly nine-kilometer long glacier is receding every year. It has been studied by foreign research centres as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Shalik Ram Sigdel, a member of the research team, climate change, unusual avalanche and rainfall were causing existential threat to the lake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Visit-Manang campaigner Phurba Tamang said although new lakes like Tilicho and Gangapurna were being explored in Manang of late, the conservation of Gangapurna Lake must be kept in priority. The glacial lake, which is being studied for half a century, should not be left out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of local tourism campaigners including Phurba had found a new lake located 25 meters away from Chame. It was named Kajinsara Lake. Although the lake was publicized as the one located even above the Tilicho Lake, a scientific verification is awaited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the researchers' warning over the extinction of the lake and changes in nature, the rural municipality has allocated Rs 30 million to restore the glory of the pristine lake. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19757', 'image' => '20240121094717_2176216343_n.jpg', 'article_date' => '2024-01-21 09:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20029', 'article_category_id' => '1', 'title' => 'Police Ramp Up Use of Multiple Technologies in Crime Investigation', 'sub_title' => '', 'summary' => 'January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">January 21: Nepal Police has adopted a policy of utilizing state-of-the-art technology in crime control, crime investigation and traffic management, thereby steadily achieving the desired results.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The use of modern technologies has helped police prove the authenticity of the evidence in the court when the accused deny their wrongdoings, according to the police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the Kathmandu Valley Police, SSP Dineshraj Mainali, shared that the Nepal Police has proceeded with its works in line with the policy of utilizing technology to optimize their performance. Considering the important role of modern technology in crime investigation, police have been maximizing the practice lately, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The Central Forensic Science Laboratory at Samakhusi, Kathmandu examines the evidence collected during the investigation of crimes. The lab has been conducting scientific testing and analysis of chemicals and narcotic drugs, explosive substances, toxicology, DNA, controversial documents, footprint and fingerprint analysis and scientific examination of photos among others, it was shared. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, polygraph machines are used to test whether the accused or crime suspects are lying or not. Postmortem is conducted at the Forensic Department of the Tribhuvan University Teaching Hospital and district hospitals to find out the cause of the death- whether it is due to murder and other causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The police have also digitalized many of its services to facilitate the service seekers. The police report can be accessed online within a few days from any part of the world, according to DIG Bhim Prasad Dhakal, the Central Spokesperson for the Nepal Police. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Police also have their App through which the public can notify the police about the incidents of crime. Similarly, public can also play the role of 'police without uniform' by informing the police about criminal activities through the emergency numbers such as </span></span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">100, 103 and 104, said SSP Mainali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">To minimize road accidents and for effective traffic management, the traffic police have put in place CCTV cameras, traffic lights, street lights, road signs and signals, road markings, radar guns, breath analyzers, drug detection kits, GoPro cameras, voice recorders among others, informed Kathmandu Valley Traffic Police Office's Spokesperson Rajendra Prasad Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Efforts are underway to introduce vehicle scanners and other technologies at the main checkpoints of the Kathmandu Valley. Altogether 10 Automatic Number Plate Recognition Cameras are in use in the valley apart from 170 CCTV cameras.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Also, face-reading cameras have been installed in 10 places, cameras with video management based on AI have been installed at 150 places for effective traffic management, said Spokesperson Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-21', 'modified' => '2024-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '19754', 'image' => '20240121090851_private-detective-is-investigating-modern-colored-vector-poster-2J6WTJ3-transformed - Copy.jpeg', 'article_date' => '2024-01-21 09:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20025', 'article_category_id' => '1', 'title' => 'Global Tourism to Reach Pre-Pandemic Levels in 2024: UN Tourism Agency', 'sub_title' => '', 'summary' => 'January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 20: International tourism levels will be slightly higher than its pre-pandemic levels in 2024 boosted by an expected resurgence in Asia, the UN's World Tourism Organization (UNWTO) said Friday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above 2019 levels," the Madrid-based agency said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Figures for last year showed that 1.3 billion tourists travelled abroad, 44 percent higher than in 2022 and 88 percent of the numbers in 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">UNTWO pointed to "a stronger recovery of Asian markets" but noted that the biggest rise was in the Middle East which was "the only region to overcome pre-pandemic levels with arrivals 22 percent above 2019".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Europe, the world's most visited region, also saw a strong performance with tourism reaching 94 percent of its 2019 figures, with African figures reaching 96 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relative terms, the Asia-Pacific region was the weakest with just 65 percent of pre-pandemic levels, despite China's lifting of health restrictions a year ago after a strict three-year zero-Covid strategy when it cut itself off from the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The latest UNWTO data underscores tourism's resilience and rapid recovery, with pre-pandemic numbers expected by the end of 2024," its Secretary-General Zurab Pololikashvili said in the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chinese tourism was expected to gather pace this year with Beijing offering visa-free travel for citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia until the end of November.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prediction for 2024, however, "remains subject to the pace of recovery in Asia and to the evolution of existing economic and geopolitical downside risks," it said, notably due to the Israel-Hamas war and the unsettled global economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Persisting inflation, high interest rates, volatile oil prices and disruptions to trade can continue to impact transport and accommodations costs in 2024," it warned. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-20', 'modified' => '2024-01-20', 'keywords' => 'Tourism, global, pandemic, UN, UNWTO', 'description' => '', 'sortorder' => '19752', 'image' => '20240120114403_20220828021403_Tourist.jpg', 'article_date' => '2024-01-20 11:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20024', 'article_category_id' => '1', 'title' => 'Majority of Listed Companies not in a Mood to Distribute Dividends to Shareholders', 'sub_title' => '', 'summary' => 'January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The number of listed companies that to not distribute dividends to their shareholders is more than the companies that pay the dividends to the shareholders.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of <span style="font-family:"Arial Unicode MS","sans-serif"">249</span> companies listed in Nepal Stock Exchange (NEPSE), <span style="font-family:"Arial Unicode MS","sans-serif"">97</span> have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some companies are declaring dividends from the distributable profits up to the last fiscal year (FY) and some have already declared and endorsed it by the annual general meeting. Some companies have started informing through NEPSE that they have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year's recession has affected the profits of the companies. On the other hand, the listed companies have not been able to distribute dividends to the shareholders also due to regulatory restrictions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Bad loans of banks have affected various other sectors. Experts say that since this has directly affected the profit of the listed companies, such companies have not been able to distribute dividends to the shareholders. In the case of hydropower companies, most of them have just sold their shares to the general public and got listed in the secondary market of securities. Most of them have not even started producing electricity. This is the reason why they are not able to distribute dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Commercial Banks</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Five of the commercial banks listed in NEPSE have informed that they will not distribute dividends this year. Himalayan Bank, NMB Bank, Prime Commercial Bank, Kumari Bank and Nepal Bank have decided not to pay dividends. Three banks have not declared dividends yet. Nepal Investment Mega Bank, Prabhu Bank and Agriculture Development Bank have not declared dividend till now. The rest of the banks have declared dividends and passed them by the AGM.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Microfinance</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Most of the microfinance companies do not pay dividends. Among the listed microfinance companies, Himalayan, Gurans, Infinity, Laxmi, Sivaisi, Sadhana, Mero Microfinance, Ganapati, Mankamana Smart, Upakar, Samudayik, Forward, Nadep, Sabaiko, Unnati Sahakarya and Nerude Microfinance have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Gramin Bikas, Nirdhan Uthan, Kalika, Kisan and Dhaulagiri microfinance are also in the list of companies that have decided not to distribute dividends. So far, <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> microfinance companies have announced to distribute dividends from last year's profits.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Development Banks </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This year, only seven of the listed development banks have announced dividend for the investors. Jyoti, Kamna Seva, Sindhu and Saptakoshi development bank have decided not to distribute dividends.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Narayani, Excel, Karnali, Corporate and Green development banks are yet to announce the decision regarding dividend and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Finance Companies</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, only three finance companies have declared dividends. Nepal, Goodwill, Samriddhi, Progressive, Pokhara and Guheshwari Merchant and Finance have decided not to distribute dividends. Similarly, Gorkhaz, Best, Janaki, Central, Multipurpose and Reliance Finance have not yet decided the date of dividend announcement and annual general meeting.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hydropower</span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Out of the <span style="font-family:"Arial Unicode MS","sans-serif"">91</span> listed hydropower companies, only <span style="font-family:"Arial Unicode MS","sans-serif"">13</span> have proposed to distribute dividends. Forty-nine companies have held annual general meetings without announcing dividends. The remaining <span style="font-family:"Arial Unicode MS","sans-serif"">29</span> companies have not taken any decision regarding the annual general meeting and dividend so far.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Investment </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, five companies under the investment group have announced their annual general meeting. Four of them have declared dividends for the investors from the profits made during last year. NRN Infrastructure Bank has informed that it will not declare dividend. The date of dividend announcement and annual general meeting of the two companies is yet to be decided.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Hotels and tourism </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Six companies under this group have announced their annual general meeting. Three of them have decided to distribute dividends to the investors. Three including Kalinchok Darshan, Chandragiri Hills and City Hotel have decided not to distribute dividends to the shareholders. </span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Production and processing </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Eight companies of this group have called their annual general meeting. Among them, six companies have announced to pay dividends to the investors. Two of them have decided not to distribute dividends. They include Bottlers Nepal Balaju and Sonapur Minerals and Oil Limited.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Other group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among other companies under the group, only Nepal Telecommunication Company has announced dividends. Three other companies have decided not to pay dividends. Muktinath Agricultural Company, Nepal Republic Media and Nepal Warehousing Company have decided not to pay dividends.</span></span></p> <p><span style="font-size:16px"><strong><span style="font-family:Calibri,"sans-serif"">Non-Life Insurance Group </span></strong></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Among the listed non-life insurance companies, Prudential Insurance and Neco Insurance have decided not to distribute dividends from last year's profits. Nepal Insurance Company has announced dividend. Nine non-life insurance companies are yet to make a decision regarding the distribution of dividends.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19751', 'image' => '20240119033639_main-qimg-09d9905cfabf21f2993d3ff365455380-lq.jpg', 'article_date' => '2024-01-19 15:34:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20023', 'article_category_id' => '1', 'title' => 'Interest on Bank Loans also Starts Declining', 'sub_title' => '', 'summary' => 'January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 19: The interest rates of loans issued by banks and financial institutions (BFIs) have started to drop after the BFIs reduced the interest rate of deposits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Nepal Rastra Bank, the base rate and the interest rate of loans have been continuously declining along with the interest rate of deposits in the current iscal year (FY) 2080/81. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank has said that the average interest rate of deposits of commercial banks was 8 percent in mid-July of the current year, but it fell to 7.62 percent in mid-December. Similarly, when the average base rate fell from 10.11 percent to 9.64 percent, the interest on loans also fell from 12.24 percent to 11.85 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Deputy spokesperson of Nepal Rastra Bank Dr Dilliram Pokharel said, "Nepal Rastra Bank itself has encouraged the reduction of interest rates by reducing policy rates," he said, "It seems that banks are also reducing interest rates as liquidity has eased." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that there is excess liquidity in the market at present and the NRB is mopping liquidity, Pokharel said that the interest rates will drop further.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After liquidity eased in the financial system, the Nepal Bankers' Association decided to end the gentlemen’s agreement to fix uniform interest rates and decided to allow banks to fix the interest rates as per their wish.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As a result, the maximum interest rate of deposits of commercial banks fell below 8 percent in mid-January. In mid-January, 18 banks announced reduction in interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the instructions of the central bank, BFIs can set the base rate by adding 0.75 percent profit to the cost. Banks have to calculate the base rate on a monthly basis and submit it to the central bank within 7 days of the end of each month and publish it on their website. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks have been determining the interest rate on loans by adding a certain percentage premium to the base rate of the last three months. According to this arrangement, when the average base rate of the bank decreases every quarter, the interest rate of the loan automatically decreases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, commercial banks add a maximum of 5 percent premium to the base rate while determining the interest rate on loans. However, there is a provision that the premium specified in the loan agreement cannot be changed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19750', 'image' => '20240119030512_Banks - Copy.jpg', 'article_date' => '2024-01-19 15:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20022', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Declines: NRB Report', 'sub_title' => '', 'summary' => 'January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 19: The industries of Nepal are reeling under the effects of economic recession, interest rate instability, falling demand in the domestic market and price hike of raw materials, resulting in a decline in industrial production.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The production capacity of industries that produce food, oil, ghee, cement and steel among others are found to have declined.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The recently published 'Economic Activity Study Annual Report' of Nepal Rastra Bank has shown that the average capacity utilization of Nepal's industries in the last fiscal year (FY) 2079/80 was limited to 49.8 percent. In the previous year (FY 2078/79), the capacity utilization of the industries was 52.2 percent.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank's report also backs a recent report released by the private sector organization’s Confederation of Nepalese Industries. The report published by the confederation in early January of stated that there has not been any improvement in the country’s overall economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report mentioned that the investors’ morale was down due to decline in the overall demand and turnover of the industries, prompting the investors to stop making new investments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank has shown that the capacity utilization of the electricity generating industry was the highest at 86.2 percent last year. The capacity utilization of vegetable ghee production industry was the lowest (2.6 percent). Similarly, despite the cement industries of Nepal starting export to India, the capacity utilization of the cement industry declined due to the slowdown in the domestic construction sector.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The slowdown in the business of the construction industry has resulted in the decline in the capacity utilization of related industries that involve in production of construction materials like cement, iron rods, polythene pipes, steel, electric wires, GI pipes, etc. The capacity utilization of the cement industry, which was 46.06 percent in the year 2078/79, decreased to 44.44 percent in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dhurba Thapa, president of Nepal Cement Producers Association, the umbrella organization of cement industries, said that the capacity utilization has decreased due to the stalled construction work and the inability of the government to spend the budget. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Last year there was a 75 percent reduction in development and construction works," said Thapa, adding, "Due to this, the capacity utilization of all industries involved in producing construction materials decreased. This situation should not be repeated in the current year."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The effect of India's ban on wheat exports has affected the production capacity of Nepal's food industry. The impact of the Indian policy has also been seen in the industries producing vegetable ghee/oil. The capacity utilization of wheat flour industry, which was 50.74 percent in 2078/79, dropped to 38.46 percent in 2079/80.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's reduction in the customs duty imposed on the import of palm and soybean oil has resulted in a significant decrease in the export of refined oil from Nepal to India. In the last two years, due to the rapid decrease in the export of refined oil, the capacity utilization of soybean oil as well as vegetable ghee industry has been badly affected. The capacity utilization of soybean oil industry, which was 82.33 percent in the year 2078/79, dropped to 47.61 percent in the last fiscal year. Similarly, the report shows that the capacity utilization of vegetable ghee industry was limited to 2.59 percent last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average capacity utilization of industries in Gandaki, Karnali and Sudurpaschim provinces has increased, while the average capacity utilization of industries in Koshi, Madhesh, Bagmati and Lumbini provinces has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the central bank shows an increase in the capacity utilization of industries that produce mustard oil, processed milk, rice, biscuits, sugar, processed tea, soft drinks, synthetic fabrics, garments, jute products, paper, capsules, ointments, dry syrup, plastic goods, bricks, GI wire, household metal wares, footwear and electronic goods.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, there has been a decline in capacity utilization of industries that produce vegetable ghee, soybean oil, wheat flour, chocolate, animal feed, noodles, beer, cigarettes, yarn, raw hide, wood, plywood, rosin, dyes, tablet medicine, soap, iron bars and sheets, steel products, GI pipes, polythene pipes, bricks, electric wires, tires and tubes, textile and shoes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report of the Central Bank has suggested all stakeholders to reduce the cost of establishment and operation of the latest industries, and to effectively manage and expand the industrial zones/corridors and special economic zones. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report also points out the need to increase the production and consumption of domestic industrial raw materials and make the industrial supply chain effective.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report has pointed out the need to attract foreign investment in the industrial sector. It also suggested developing minimum infrastructure such as roads, electricity, communication, transfer of technology and enhancement of management capacity to create an investment-friendly environment.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, there are still challenges in the industrial sector such as ensuring the availability of skilled labor by preventing the brain drain of semi-skilled and skilled manpower, and increasing investment in export-oriented industries with comparative advantage and competitive ability through the creation of an investment-friendly environment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-19', 'modified' => '2024-01-19', 'keywords' => '', 'description' => '', 'sortorder' => '19749', 'image' => '20240119022408_indus.jpg', 'article_date' => '2024-01-19 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
