May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urges microfinance to work in remote areas of the country and warns to cancel the license if it is not carried out. Dr Chiranjibi Nepal expresses the view in the inauguration program of ‘National Microfinance Member Conference 2073’ at Kathmandu on Sunday. “Microfinance programs centralised in cities lead to frauds. We are also mapping on areas that microfinance should reach,” says…
May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is…
May 16: US Bangla Airlines has launched its first international destination flight in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism for Bangladesh inaugurated the first international flight of the Airlines at Hazrat Shahjala International Airport, Dhaka. Similarly, Aananda Prasad Pokharel, Minister of Culture, Tourism and Civil Aviation for Nepal, inaugurated Kathmandu-Dhaka flight in…
May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients. As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global…
May 15: Ridhi Hydropower Development Company is issuing 35 percent (1,155,000 units) right shares. The company is issuing 35 percent right shares in order to invest in 9.9MW IwaKhola Hydropower project that will operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420…
May 15: Securities Board of Nepal (SEBON) has shown some flexibility on right shares issuance at premium subject that was in dispute for long time. Earlier, SEBON was contradicted to issue right shares at premium. However, SEBON has signalled that right share issuance at premium might be addressed if such decision is endorsed by the annual general meeting of any respective…
May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in…
May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of…
May 15: Machhapuchchhre Bank has started its 72th ATM service in Hile, Dhankuta on May 13. “The bank aims to provide quick and reliable service to the customers of Hile through the ATM booth,” informs the bank in a press…
VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom. Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet. According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom.…
May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke,…
May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY…
May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind. The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of…
May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the…
May 13: The European Union and Transparency International Nepal in Kathmandu launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12. Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The 1 million Euros project, which is a part of a broader package of 105 million euro, will run for a period of 5 years to complement the rebuilding campaign with various accountability and transparency activities,” informs the joint press statement of two…
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Dr Chiranjibi Nepal expresses the view in the inauguration program of ‘National Microfinance Member Conference 2073’ at Kathmandu on Sunday. “Microfinance programs centralised in cities lead to frauds. We are also mapping on areas that microfinance should reach,” says Nepal.', 'content' => '<p style="text-align:justify">May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urged microfinance to work in remote areas of the country. He warned that microfinances companies that are reluctant to go to remote areas will have to face cancelation of their licenses. Dr Nepal was speaking on the inauguration program of ‘National Microfinance Member Conference 2073’ held at the capital on Sunday.</p> <p style="text-align:justify">“Microfinance programs centralised in urban areas are likely to lead to frauds. We are also mapping the areas that microfinance should reach,” says Nepal.</p> <p style="text-align:justify">He suggested to decrease interest rate on loans provided by microfinance companies. "Microfinances need to decrease interest rates although their capital expenditure is high,” says Nepal, “The poor are hard hit by the high interest rates.” NRB recently opposed the government decision to set interest rate on loan provided by the microfinance companies. As per the decision, microfinance companies can charge maximum of 18 percent interest rate on loans.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3384', 'image' => '20160516031019_gov.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3549', 'article_category_id' => '1', 'title' => 'NEPSE Unveils Proposed Securities Listing Bylaw', 'sub_title' => '', 'summary' => 'May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.', 'content' => '<p style="text-align:justify">May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.</p> <p style="text-align:justify">The proposed listing bylaw has adopted policy to categorise companies in A, B, G and Z groups. Although the features of such companies has not been mentioned in the unveiled bylaw. However, as per the current practice in NEPSE, companies that earn profit for continuous five years, distributing above 20 percent in dividends, having paid-up capital of above Rs 20 million and having number of shareholders above 1,000 are categorised as ‘A’ listed. Likewise, companies with similar traits of ‘A’ but are reluctant to distribute dividend are kept in the ‘B’ group. Also, companies distributing up to 10 percent dividend for last five years will listed in ‘B’ group.</p> <p style="text-align:justify">The new group ‘Z’ will list the companies with problems relating to financial report and corporate governance. The list also includes companies having operational problems for last two years.</p> <p style="text-align:justify">Similarly, newly listed and companies that are unable to upgrade to other groups will be listed in the group ‘G’. Nevertheless, the new arrangements will be implemented only after Securities Board of Nepal (SEBON) endorsed the proposal of the bylaw submitted by the NEPSE on last Thursday. As per the Securities Listing Bylaw 2053, NEPSE has been categorising listed companies in ‘A’ and ‘B’ groups.</p> <p style="text-align:justify">Meanwhile, stakeholders who have been criticising the old classification mechanism as unscientific are expressing their dissatisfaction over the proposed bylaw. The dissatisfying group argue to consider weighted average of the companies as a base in the classification.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3383', 'image' => '20160516023853_nepe3.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3548', 'article_category_id' => '1', 'title' => 'First International Flight of US Bangla Airlines', 'sub_title' => '', 'summary' => 'May 16: US Bangla Airlines has launched its first international destination flight in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism for Bangladesh inaugurated the first international flight of the Airlines at Hazrat Shahjala International Airport, Dhaka. Similarly, Aananda Prasad Pokharel, Minister of Culture, Tourism and Civil Aviation for Nepal, inaugurated Kathmandu-Dhaka flight in Kathmandu.', 'content' => '<p style="text-align: justify;">May 16:<strong> </strong>US Bangla Airlines launched its first international destination in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism of Bangladesh inaugurated the first international flight of the airliner at Hazrat Shahjala International Airport, Dhaka. Similarly the Minister of Culture, Tourism and Civil Aviation of Nepal Aananda Prasad Pokharel inaugurated Kathmandu-Dhaka flight.</p> <p style="text-align: justify;">According to the airlines, the inaugural flight was operated from Kathmandu with Bombardier manufactured Dash 8-Q400 series with 78 passengers to Hazrat Shahjalal International Airport. The flight left for Dhaka from Kathmandu at 5:10 pm, May 15.“Initially, the flights will leave from Dhaka on Sunday, Tuesday and Thursday at 3:00 pm and will arrive in Kathmandu at 4:30 pm local time. The flight will leave Kathmandu at 5:10 pm and arrive in Dhaka at 7:10 pm,” informs the airlines in a press statement.</p> <p style="text-align: justify;">The company informed that the minimum round-trip fare for Kathmandu-Dhaka-Kathmandu is fixed for Rs 25,763 and one way fare is Rs 13,271 which includes all taxes and surcharges. US-Bangla Airlines started its operation on 17 July 2014. Currently, US-Bangla Airlines is operating three Canadian Bombardier manufactured new generation Dash 8-Q400 series aircrafts.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3382', 'image' => '20160516010041_usbangla.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3547', 'article_category_id' => '1', 'title' => 'SCB and Qatar Airways Renew Deal for Bank’s Priority Clients', 'sub_title' => '', 'summary' => 'May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients. As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.', 'content' => '<p>May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients.</p> <p>As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.</p> <p>Qatar Airways and the bank will continue to provide a special offer which can be accessed online or from the airlines city office by the bank’s priority banking card holders.</p> <p>In addition, SCB’s priority clients and their companions will be allowed to check-in at the local airport through the business class counter irrespective of whether or not the passenger holds a business class ticket.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3381', 'image' => null, 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3546', 'article_category_id' => '1', 'title' => 'Right Share of Ridi Hydropower in the Offing', 'sub_title' => '', 'summary' => 'May 15: Ridhi Hydropower Development Company is issuing 35 percent (1,155,000 units) right shares. The company is issuing 35 percent right shares in order to invest in 9.9MW IwaKhola Hydropower project that will operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.', 'content' => '<p style="text-align: justify;">May 15: Ridi Hydropower Development Company is issuing 35 percent (1.15 million units) right shares. The company is issuing right shares in order to invest in 9.9MW IwaKhola Hydropower Project that is targeted to operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.</p> <p style="text-align: justify;">In that respect, the company is assessing investment options such as increase promoters’ investment or re-floating IPO in future for the Rairang Project or IwaKhola Project. Currently, Rairang, a subsidiary company of Ridi Hydropower, has already invested Rs 850 million in the project. The electricity generated from the project has been price Rs 8.4 per unit in dry season and Rs 4.8 in rainy season. As per the Power Purchase Agreement (PPA), the rate will increased by 3 percent annually for five years. The project has aimed to connect and sell electricity from Kabeli sub-station in which transmission line in some parts are still under- construction.</p> <p style="text-align: justify;">The group of companies under Ridi Hydropower has total electricity capacity of 14.4MW. The company has collected Rs 574.7 million from selling electricity and has earned Rs 457.2 million net profit till July 2015. The company has distributed dividends averaging 10 percent to its investors. According to the statistics of July 2015, the company owes Rs 124 million for consortium banks’ finance. </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3380', 'image' => '20160515044345_rd.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3545', 'article_category_id' => '1', 'title' => 'Possibility Nears for Companies to Issue Right Share at Premium', 'sub_title' => '', 'summary' => 'May 15: Securities Board of Nepal (SEBON) has shown some flexibility on right shares issuance at premium subject that was in dispute for long time. Earlier, SEBON was contradicted to issue right shares at premium. However, SEBON has signalled that right share issuance at premium might be addressed if such decision is endorsed by the annual general meeting of any respective company.', 'content' => '<p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">May 15: Securities Board of Nepal (SEBON) has shown flexibility on the issuance of right shares at premium. The regulator has long opposed to issue right shares at premium. However, SEBON has signalled that the issuance of right shares at premium might be addressed if such decision is endorsed by the general meeting of respective companies. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“If investors themselves are willing to pay at premium, then we do not need to block it,” says Niraj Giri, Spokesperson of SEBON. Previously, SEBON opposed the system citing lack of autonomous pricing mechanism in domestic share market. The regulator also cites the lack of practice of purchasing unsold right shares by commercial buyers and market maker through systematic pricing mechanism. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">But again, SEBON might not approve the proposal of issuing right shares at premium easily.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“Some companies are taking the proposals on their AGMs. We will discuss the issue if such proposals come to us,” says Giri. Currently, Nepal SBI Bank has proposed to issue right shares at premium.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">Meanwhile, SEBON has also relaxed rating arrangement of right shares to banks and financial institutions with some conditions from Friday. Although, seeing the possibilities of fetching proposals of right share issuance at premium for approval, SEBON has made rating of such institutions mandatory. “Institutions issuing right shares at par (Rs 100) need not to do rating,” states SEBON directive. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">SEBON has relaxed rating of banks and financial institutions with some conditions. As per the SEBON directive, companies having per share net worth above Rs 100 or market value of share price above par value do not need to carry out rating. Similarly, companies earning continuous profit for last 5-3 years or bad debt ratio within limitation will also get the exemption. Likewise, the companies that are registered in company registrar office disclosing capital increase plan in article of association and regulation will also get such immunity. Most of the financial institutions are likely to fulfil the conditions of the board. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">After 10 months of Nepal Rastra Bank’s capital increment directive, SEBON has relaxed the rating arrangement. Citing right shares as medium to increase paid-up capital, need of carrying out right share issuance more than once and rating process that takes more than two months, banks have been demanding removal of rating system. SEBON made the new arrangement as per the request of NRB. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3379', 'image' => '20160515043917_sebon.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3544', 'article_category_id' => '1', 'title' => ' Application Opens for 2nd Wai Wai Glocal Teen Hero', 'sub_title' => '', 'summary' => 'May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.', 'content' => '<p style="text-align: justify;">May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.</p> <p style="text-align: justify;"> Bipana Sharma, a 17-year old child right activist had been felicitated with the First Glocal Teen Hero 2015 last year.</p> <p style="text-align: justify;">“Our promotional plans for this year is to reach the teenagers and give platform nationally, for which we will be going to six destination Pokhara, Chitwan, Bhairahawa, Biratnagar, Birgunj and Janakpur apart from Kathmandu Valley,” informs the company in a press statement.</p> <p style="text-align: justify;">According to the company, Glocal has partnered with Ministry of Youth & Sports,Wai Wai, BP Koirala India Nepal Foundation of Embassy of India, UNDP, Panchakanya Group, Coca-Cola, Hotel Soaltee, F1 Soft, Honda and Facts Research and Analytics to organise the program.</p> <p style="text-align: justify;">Chaudhary Group and Glocal Pvt Ltd have signed an agreement for the title sponsor. “We are glad to partner with Glocal Pvt Ltd to conduct Glocal Teen Hero and aspire to continue it for a long term.We take this as an opportunity to inform the general public that we are doing something from our part for social cause by supporting the teenagers,” said Nirvana Chaudhary, Managing Director of the Chaudhary Group</p> <p style="text-align: justify;">Meanwhile, Hotel Soaltee Crown Plaza is the Hospitality and Associate Partner for the program. <a name="_GoBack"></a></p> <p style="text-align: justify;"> “We have taken this partnership of organizations this year as the addition of a brick towards reaching our goal since it will help make ourinitiationof conducting Glocal Teen Hero a great success this year”, said Cajol Jha, Manager, and Public Relations at Glocal expressing the happiness to be associated to a renowned and prestigious organization to continue the legacy.</p> <p style="text-align: justify;">The application can be filled online on <a href="http://www.teenhero.glocalkhabar.com/">www.teenhero.glocalkhabar.com</a>. The deadline to submit the application is June 30.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3378', 'image' => '20160515013922_glocal.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3543', 'article_category_id' => '1', 'title' => 'Jyoti Bikas Bank’s SGM Held', 'sub_title' => '', 'summary' => 'May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.', 'content' => '<p style="text-align: justify;">May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.</p> <p style="text-align: justify;">Jyoti Bikas Bank and Hamro Bikas Bank signed a merger deal on last December. Similarly, Jyoti and Jhimruk Bikas Bank inked a merger agreement on January. Jyoti Bikas Bank conducted the assembly regarding the final acceptance of the merger process. </p> <p style="text-align: justify;">The new entity formed after the merger of three institutions will be named Jyoti Bikas Bank and will be headquartered at Kamaladi, Kathmandu. Similarly, the share ratio will be 1:1 for all three banks.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3377', 'image' => '20160515010224_joti.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3542', 'article_category_id' => '1', 'title' => 'ATM of Machhapuchchhre in Hile', 'sub_title' => '', 'summary' => 'May 15: Machhapuchchhre Bank has started its 72th ATM service in Hile, Dhankuta on May 13. “The bank aims to provide quick and reliable service to the customers of Hile through the ATM booth,” informs the bank in a press statement.', 'content' => '<p style="text-align: justify;">May 15: Machhapuchchhre Bank Limited has opened its 72th ATM counter in Hile, Dhankuta on May 13. “The bank will provide the quick and reliable service to the customers of Hile through this ATM booth,” informs the bank in a press statement.</p> <p style="text-align: justify;">The bank with the paid -up capital of Rs 3.33 billion has Rs 48.43 billion in deposits and Rs 40.81 billion in loans by the end of mid-April of the current fiscal year. During the period, the bank has logged operating profit of Rs 624.2 million.</p> <p style="text-align: justify;">Machhapuchchhre Bank, which began its service from Pokhara in the year 2000, has 56 branches, one extension counter and 72 ATMs. ”Customers should not pay any extra charge while using the Visa cards issued by the bank through its ATMs,” informs the statement.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3376', 'image' => '20160515113830_atm.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3541', 'article_category_id' => '1', 'title' => 'Suzuki Showroom at Kailali', 'sub_title' => '', 'summary' => 'VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom. Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet. According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. ', 'content' => '<p style="text-align: justify;">May 13: VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom.</p> <p style="text-align: justify;">Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet.</p> <p style="text-align: justify;">According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3375', 'image' => '20160513052339_suzuki.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3540', 'article_category_id' => '1', 'title' => 'Remit Agreement between Prabhu Bank and National Microfinance', 'sub_title' => '', 'summary' => 'May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.', 'content' => '<p>May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3374', 'image' => '20160513050120_prabhu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3539', 'article_category_id' => '1', 'title' => 'Spread Rate Helps Banks Profit Jump', 'sub_title' => '', 'summary' => 'May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.', 'content' => '<p style="text-align:justify">May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.</p> <p style="text-align:justify">Among the banks, NMB Bank logged the highest profit earning. The bank’s profit grew by 93 percent in mid-April of current FY compared to the same period last of FY. It is due to the profits accumulated by other banks that have merged with NMB.</p> <p style="text-align:justify">“This indicates that banks did not made significant reduction in loan interest rates compared to deposit interest rates during the period of high liquidity,” says Bhuwan Dhahal, CEO of Sanima Bank. The banks had set 2-4 percent interest rates on fixed deposit accounts due to lower investments caused by the devastating earthquake of last year followed by the border blockade. However, there was little reduction in interest rates of various loan categories except the short-term loans. During the period, the banks were charging 11-17 percent interest rate on various loan categories. Other than Prabhu, Standard Chartered, Lumbini, Nepal SBI and Agricultural Development Bank, spread rate of other banks are within the limit set by Nepal Rastra Bank. As per the NRB directive, such rates should not exceed 5 percent.</p> <p style="text-align:justify">Increase in spread rate has also attributed to the rise in the banks net interest income. The net interest income of the banks has increased by 17 percent to Rs 29.15 billion by mid-April of current FY compared to same period of last FY. During the period, deposit collection of the banks has increased by six percent while loans saw increment of only four percent.</p> <p style="text-align:justify"><img alt="" src="/userfiles/images/table%283%29.jpg" style="height:1007px; width:700px" /></p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3373', 'image' => null, 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3538', 'article_category_id' => '1', 'title' => 'Ford Exchange and Test Drive Fair', 'sub_title' => '', 'summary' => ' May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind. The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.', 'content' => '<p style="text-align: justify;">May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind.</p> <p style="text-align: justify;">The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3372', 'image' => '20160513012146_test drive.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3537', 'article_category_id' => '1', 'title' => 'AHF conducts 'Fund the Fund' Campaign', 'sub_title' => '', 'summary' => 'May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.', 'content' => '<p>May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3371', 'image' => '20160513011454_ahf.JPG', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3536', 'article_category_id' => '1', 'title' => 'EU and TI Nepal Join Hands to Promote Integrity in Reconstruction', 'sub_title' => '', 'summary' => 'May 13: The European Union and Transparency International Nepal in Kathmandu launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12. Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The 1 million Euros project, which is a part of a broader package of 105 million euro, will run for a period of 5 years to complement the rebuilding campaign with various accountability and transparency activities,” informs the joint press statement of two organizations.', 'content' => '<p>May 13: The European Union and Transparency International Nepal launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12.</p> <p>Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The Euro 1 million project, which is a part of a broader package of Euro 105 million, will run for a period of five years to complement the rebuilding campaign with various accountability and transparency activities,” informs a joint press statement of two organizations.</p> <p>Both parties reiterated the importance of promoting integrity in the context of post-Earthquake reconstruction. Ambassador Teerink stated, "Building Back Better Nepal is an opportunity to foster accountability and social cohesion in the country. We need to reach out in particular to the most vulnerable. With this action, launched today on the first anniversary of the second big quake, we underline the pivotal importance of the Civil Society in the process."</p> <p>Meanwhile, TI Nepal President Thapa expressed that disaster situations often exacerbate corruption; hence a more vigilant approach from civil society is crucial.</p> <p>The project is shrduled to work on three key levels in the earthquake reconstruction process: policy level, implementation level and post implementation level. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3370', 'image' => '20160513115846_eu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '3550', 'article_category_id' => '1', 'title' => 'Governor Nepal: Take Microfinance to Remote Areas', 'sub_title' => '', 'summary' => 'May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urges microfinance to work in remote areas of the country and warns to cancel the license if it is not carried out. Dr Chiranjibi Nepal expresses the view in the inauguration program of ‘National Microfinance Member Conference 2073’ at Kathmandu on Sunday. “Microfinance programs centralised in cities lead to frauds. We are also mapping on areas that microfinance should reach,” says Nepal.', 'content' => '<p style="text-align:justify">May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urged microfinance to work in remote areas of the country. He warned that microfinances companies that are reluctant to go to remote areas will have to face cancelation of their licenses. Dr Nepal was speaking on the inauguration program of ‘National Microfinance Member Conference 2073’ held at the capital on Sunday.</p> <p style="text-align:justify">“Microfinance programs centralised in urban areas are likely to lead to frauds. We are also mapping the areas that microfinance should reach,” says Nepal.</p> <p style="text-align:justify">He suggested to decrease interest rate on loans provided by microfinance companies. "Microfinances need to decrease interest rates although their capital expenditure is high,” says Nepal, “The poor are hard hit by the high interest rates.” NRB recently opposed the government decision to set interest rate on loan provided by the microfinance companies. As per the decision, microfinance companies can charge maximum of 18 percent interest rate on loans.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3384', 'image' => '20160516031019_gov.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3549', 'article_category_id' => '1', 'title' => 'NEPSE Unveils Proposed Securities Listing Bylaw', 'sub_title' => '', 'summary' => 'May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.', 'content' => '<p style="text-align:justify">May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.</p> <p style="text-align:justify">The proposed listing bylaw has adopted policy to categorise companies in A, B, G and Z groups. Although the features of such companies has not been mentioned in the unveiled bylaw. However, as per the current practice in NEPSE, companies that earn profit for continuous five years, distributing above 20 percent in dividends, having paid-up capital of above Rs 20 million and having number of shareholders above 1,000 are categorised as ‘A’ listed. Likewise, companies with similar traits of ‘A’ but are reluctant to distribute dividend are kept in the ‘B’ group. Also, companies distributing up to 10 percent dividend for last five years will listed in ‘B’ group.</p> <p style="text-align:justify">The new group ‘Z’ will list the companies with problems relating to financial report and corporate governance. The list also includes companies having operational problems for last two years.</p> <p style="text-align:justify">Similarly, newly listed and companies that are unable to upgrade to other groups will be listed in the group ‘G’. Nevertheless, the new arrangements will be implemented only after Securities Board of Nepal (SEBON) endorsed the proposal of the bylaw submitted by the NEPSE on last Thursday. As per the Securities Listing Bylaw 2053, NEPSE has been categorising listed companies in ‘A’ and ‘B’ groups.</p> <p style="text-align:justify">Meanwhile, stakeholders who have been criticising the old classification mechanism as unscientific are expressing their dissatisfaction over the proposed bylaw. The dissatisfying group argue to consider weighted average of the companies as a base in the classification.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3383', 'image' => '20160516023853_nepe3.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3548', 'article_category_id' => '1', 'title' => 'First International Flight of US Bangla Airlines', 'sub_title' => '', 'summary' => 'May 16: US Bangla Airlines has launched its first international destination flight in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism for Bangladesh inaugurated the first international flight of the Airlines at Hazrat Shahjala International Airport, Dhaka. Similarly, Aananda Prasad Pokharel, Minister of Culture, Tourism and Civil Aviation for Nepal, inaugurated Kathmandu-Dhaka flight in Kathmandu.', 'content' => '<p style="text-align: justify;">May 16:<strong> </strong>US Bangla Airlines launched its first international destination in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism of Bangladesh inaugurated the first international flight of the airliner at Hazrat Shahjala International Airport, Dhaka. Similarly the Minister of Culture, Tourism and Civil Aviation of Nepal Aananda Prasad Pokharel inaugurated Kathmandu-Dhaka flight.</p> <p style="text-align: justify;">According to the airlines, the inaugural flight was operated from Kathmandu with Bombardier manufactured Dash 8-Q400 series with 78 passengers to Hazrat Shahjalal International Airport. The flight left for Dhaka from Kathmandu at 5:10 pm, May 15.“Initially, the flights will leave from Dhaka on Sunday, Tuesday and Thursday at 3:00 pm and will arrive in Kathmandu at 4:30 pm local time. The flight will leave Kathmandu at 5:10 pm and arrive in Dhaka at 7:10 pm,” informs the airlines in a press statement.</p> <p style="text-align: justify;">The company informed that the minimum round-trip fare for Kathmandu-Dhaka-Kathmandu is fixed for Rs 25,763 and one way fare is Rs 13,271 which includes all taxes and surcharges. US-Bangla Airlines started its operation on 17 July 2014. Currently, US-Bangla Airlines is operating three Canadian Bombardier manufactured new generation Dash 8-Q400 series aircrafts.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3382', 'image' => '20160516010041_usbangla.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3547', 'article_category_id' => '1', 'title' => 'SCB and Qatar Airways Renew Deal for Bank’s Priority Clients', 'sub_title' => '', 'summary' => 'May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients. As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.', 'content' => '<p>May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients.</p> <p>As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.</p> <p>Qatar Airways and the bank will continue to provide a special offer which can be accessed online or from the airlines city office by the bank’s priority banking card holders.</p> <p>In addition, SCB’s priority clients and their companions will be allowed to check-in at the local airport through the business class counter irrespective of whether or not the passenger holds a business class ticket.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3381', 'image' => null, 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3546', 'article_category_id' => '1', 'title' => 'Right Share of Ridi Hydropower in the Offing', 'sub_title' => '', 'summary' => 'May 15: Ridhi Hydropower Development Company is issuing 35 percent (1,155,000 units) right shares. The company is issuing 35 percent right shares in order to invest in 9.9MW IwaKhola Hydropower project that will operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.', 'content' => '<p style="text-align: justify;">May 15: Ridi Hydropower Development Company is issuing 35 percent (1.15 million units) right shares. The company is issuing right shares in order to invest in 9.9MW IwaKhola Hydropower Project that is targeted to operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.</p> <p style="text-align: justify;">In that respect, the company is assessing investment options such as increase promoters’ investment or re-floating IPO in future for the Rairang Project or IwaKhola Project. Currently, Rairang, a subsidiary company of Ridi Hydropower, has already invested Rs 850 million in the project. The electricity generated from the project has been price Rs 8.4 per unit in dry season and Rs 4.8 in rainy season. As per the Power Purchase Agreement (PPA), the rate will increased by 3 percent annually for five years. The project has aimed to connect and sell electricity from Kabeli sub-station in which transmission line in some parts are still under- construction.</p> <p style="text-align: justify;">The group of companies under Ridi Hydropower has total electricity capacity of 14.4MW. The company has collected Rs 574.7 million from selling electricity and has earned Rs 457.2 million net profit till July 2015. The company has distributed dividends averaging 10 percent to its investors. According to the statistics of July 2015, the company owes Rs 124 million for consortium banks’ finance. </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3380', 'image' => '20160515044345_rd.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3545', 'article_category_id' => '1', 'title' => 'Possibility Nears for Companies to Issue Right Share at Premium', 'sub_title' => '', 'summary' => 'May 15: Securities Board of Nepal (SEBON) has shown some flexibility on right shares issuance at premium subject that was in dispute for long time. Earlier, SEBON was contradicted to issue right shares at premium. However, SEBON has signalled that right share issuance at premium might be addressed if such decision is endorsed by the annual general meeting of any respective company.', 'content' => '<p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">May 15: Securities Board of Nepal (SEBON) has shown flexibility on the issuance of right shares at premium. The regulator has long opposed to issue right shares at premium. However, SEBON has signalled that the issuance of right shares at premium might be addressed if such decision is endorsed by the general meeting of respective companies. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“If investors themselves are willing to pay at premium, then we do not need to block it,” says Niraj Giri, Spokesperson of SEBON. Previously, SEBON opposed the system citing lack of autonomous pricing mechanism in domestic share market. The regulator also cites the lack of practice of purchasing unsold right shares by commercial buyers and market maker through systematic pricing mechanism. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">But again, SEBON might not approve the proposal of issuing right shares at premium easily.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“Some companies are taking the proposals on their AGMs. We will discuss the issue if such proposals come to us,” says Giri. Currently, Nepal SBI Bank has proposed to issue right shares at premium.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">Meanwhile, SEBON has also relaxed rating arrangement of right shares to banks and financial institutions with some conditions from Friday. Although, seeing the possibilities of fetching proposals of right share issuance at premium for approval, SEBON has made rating of such institutions mandatory. “Institutions issuing right shares at par (Rs 100) need not to do rating,” states SEBON directive. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">SEBON has relaxed rating of banks and financial institutions with some conditions. As per the SEBON directive, companies having per share net worth above Rs 100 or market value of share price above par value do not need to carry out rating. Similarly, companies earning continuous profit for last 5-3 years or bad debt ratio within limitation will also get the exemption. Likewise, the companies that are registered in company registrar office disclosing capital increase plan in article of association and regulation will also get such immunity. Most of the financial institutions are likely to fulfil the conditions of the board. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">After 10 months of Nepal Rastra Bank’s capital increment directive, SEBON has relaxed the rating arrangement. Citing right shares as medium to increase paid-up capital, need of carrying out right share issuance more than once and rating process that takes more than two months, banks have been demanding removal of rating system. SEBON made the new arrangement as per the request of NRB. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3379', 'image' => '20160515043917_sebon.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3544', 'article_category_id' => '1', 'title' => ' Application Opens for 2nd Wai Wai Glocal Teen Hero', 'sub_title' => '', 'summary' => 'May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.', 'content' => '<p style="text-align: justify;">May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.</p> <p style="text-align: justify;"> Bipana Sharma, a 17-year old child right activist had been felicitated with the First Glocal Teen Hero 2015 last year.</p> <p style="text-align: justify;">“Our promotional plans for this year is to reach the teenagers and give platform nationally, for which we will be going to six destination Pokhara, Chitwan, Bhairahawa, Biratnagar, Birgunj and Janakpur apart from Kathmandu Valley,” informs the company in a press statement.</p> <p style="text-align: justify;">According to the company, Glocal has partnered with Ministry of Youth & Sports,Wai Wai, BP Koirala India Nepal Foundation of Embassy of India, UNDP, Panchakanya Group, Coca-Cola, Hotel Soaltee, F1 Soft, Honda and Facts Research and Analytics to organise the program.</p> <p style="text-align: justify;">Chaudhary Group and Glocal Pvt Ltd have signed an agreement for the title sponsor. “We are glad to partner with Glocal Pvt Ltd to conduct Glocal Teen Hero and aspire to continue it for a long term.We take this as an opportunity to inform the general public that we are doing something from our part for social cause by supporting the teenagers,” said Nirvana Chaudhary, Managing Director of the Chaudhary Group</p> <p style="text-align: justify;">Meanwhile, Hotel Soaltee Crown Plaza is the Hospitality and Associate Partner for the program. <a name="_GoBack"></a></p> <p style="text-align: justify;"> “We have taken this partnership of organizations this year as the addition of a brick towards reaching our goal since it will help make ourinitiationof conducting Glocal Teen Hero a great success this year”, said Cajol Jha, Manager, and Public Relations at Glocal expressing the happiness to be associated to a renowned and prestigious organization to continue the legacy.</p> <p style="text-align: justify;">The application can be filled online on <a href="http://www.teenhero.glocalkhabar.com/">www.teenhero.glocalkhabar.com</a>. The deadline to submit the application is June 30.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3378', 'image' => '20160515013922_glocal.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3543', 'article_category_id' => '1', 'title' => 'Jyoti Bikas Bank’s SGM Held', 'sub_title' => '', 'summary' => 'May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.', 'content' => '<p style="text-align: justify;">May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.</p> <p style="text-align: justify;">Jyoti Bikas Bank and Hamro Bikas Bank signed a merger deal on last December. Similarly, Jyoti and Jhimruk Bikas Bank inked a merger agreement on January. Jyoti Bikas Bank conducted the assembly regarding the final acceptance of the merger process. </p> <p style="text-align: justify;">The new entity formed after the merger of three institutions will be named Jyoti Bikas Bank and will be headquartered at Kamaladi, Kathmandu. Similarly, the share ratio will be 1:1 for all three banks.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3377', 'image' => '20160515010224_joti.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3542', 'article_category_id' => '1', 'title' => 'ATM of Machhapuchchhre in Hile', 'sub_title' => '', 'summary' => 'May 15: Machhapuchchhre Bank has started its 72th ATM service in Hile, Dhankuta on May 13. “The bank aims to provide quick and reliable service to the customers of Hile through the ATM booth,” informs the bank in a press statement.', 'content' => '<p style="text-align: justify;">May 15: Machhapuchchhre Bank Limited has opened its 72th ATM counter in Hile, Dhankuta on May 13. “The bank will provide the quick and reliable service to the customers of Hile through this ATM booth,” informs the bank in a press statement.</p> <p style="text-align: justify;">The bank with the paid -up capital of Rs 3.33 billion has Rs 48.43 billion in deposits and Rs 40.81 billion in loans by the end of mid-April of the current fiscal year. During the period, the bank has logged operating profit of Rs 624.2 million.</p> <p style="text-align: justify;">Machhapuchchhre Bank, which began its service from Pokhara in the year 2000, has 56 branches, one extension counter and 72 ATMs. ”Customers should not pay any extra charge while using the Visa cards issued by the bank through its ATMs,” informs the statement.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3376', 'image' => '20160515113830_atm.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3541', 'article_category_id' => '1', 'title' => 'Suzuki Showroom at Kailali', 'sub_title' => '', 'summary' => 'VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom. Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet. According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. ', 'content' => '<p style="text-align: justify;">May 13: VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom.</p> <p style="text-align: justify;">Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet.</p> <p style="text-align: justify;">According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3375', 'image' => '20160513052339_suzuki.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3540', 'article_category_id' => '1', 'title' => 'Remit Agreement between Prabhu Bank and National Microfinance', 'sub_title' => '', 'summary' => 'May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.', 'content' => '<p>May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3374', 'image' => '20160513050120_prabhu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3539', 'article_category_id' => '1', 'title' => 'Spread Rate Helps Banks Profit Jump', 'sub_title' => '', 'summary' => 'May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.', 'content' => '<p style="text-align:justify">May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.</p> <p style="text-align:justify">Among the banks, NMB Bank logged the highest profit earning. The bank’s profit grew by 93 percent in mid-April of current FY compared to the same period last of FY. It is due to the profits accumulated by other banks that have merged with NMB.</p> <p style="text-align:justify">“This indicates that banks did not made significant reduction in loan interest rates compared to deposit interest rates during the period of high liquidity,” says Bhuwan Dhahal, CEO of Sanima Bank. The banks had set 2-4 percent interest rates on fixed deposit accounts due to lower investments caused by the devastating earthquake of last year followed by the border blockade. However, there was little reduction in interest rates of various loan categories except the short-term loans. During the period, the banks were charging 11-17 percent interest rate on various loan categories. Other than Prabhu, Standard Chartered, Lumbini, Nepal SBI and Agricultural Development Bank, spread rate of other banks are within the limit set by Nepal Rastra Bank. As per the NRB directive, such rates should not exceed 5 percent.</p> <p style="text-align:justify">Increase in spread rate has also attributed to the rise in the banks net interest income. The net interest income of the banks has increased by 17 percent to Rs 29.15 billion by mid-April of current FY compared to same period of last FY. During the period, deposit collection of the banks has increased by six percent while loans saw increment of only four percent.</p> <p style="text-align:justify"><img alt="" src="/userfiles/images/table%283%29.jpg" style="height:1007px; width:700px" /></p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3373', 'image' => null, 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3538', 'article_category_id' => '1', 'title' => 'Ford Exchange and Test Drive Fair', 'sub_title' => '', 'summary' => ' May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind. The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.', 'content' => '<p style="text-align: justify;">May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind.</p> <p style="text-align: justify;">The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3372', 'image' => '20160513012146_test drive.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3537', 'article_category_id' => '1', 'title' => 'AHF conducts 'Fund the Fund' Campaign', 'sub_title' => '', 'summary' => 'May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.', 'content' => '<p>May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3371', 'image' => '20160513011454_ahf.JPG', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3536', 'article_category_id' => '1', 'title' => 'EU and TI Nepal Join Hands to Promote Integrity in Reconstruction', 'sub_title' => '', 'summary' => 'May 13: The European Union and Transparency International Nepal in Kathmandu launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12. Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The 1 million Euros project, which is a part of a broader package of 105 million euro, will run for a period of 5 years to complement the rebuilding campaign with various accountability and transparency activities,” informs the joint press statement of two organizations.', 'content' => '<p>May 13: The European Union and Transparency International Nepal launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12.</p> <p>Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The Euro 1 million project, which is a part of a broader package of Euro 105 million, will run for a period of five years to complement the rebuilding campaign with various accountability and transparency activities,” informs a joint press statement of two organizations.</p> <p>Both parties reiterated the importance of promoting integrity in the context of post-Earthquake reconstruction. Ambassador Teerink stated, "Building Back Better Nepal is an opportunity to foster accountability and social cohesion in the country. We need to reach out in particular to the most vulnerable. With this action, launched today on the first anniversary of the second big quake, we underline the pivotal importance of the Civil Society in the process."</p> <p>Meanwhile, TI Nepal President Thapa expressed that disaster situations often exacerbate corruption; hence a more vigilant approach from civil society is crucial.</p> <p>The project is shrduled to work on three key levels in the earthquake reconstruction process: policy level, implementation level and post implementation level. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3370', 'image' => '20160513115846_eu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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
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Dr Chiranjibi Nepal expresses the view in the inauguration program of ‘National Microfinance Member Conference 2073’ at Kathmandu on Sunday. “Microfinance programs centralised in cities lead to frauds. We are also mapping on areas that microfinance should reach,” says Nepal.', 'content' => '<p style="text-align:justify">May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urged microfinance to work in remote areas of the country. He warned that microfinances companies that are reluctant to go to remote areas will have to face cancelation of their licenses. Dr Nepal was speaking on the inauguration program of ‘National Microfinance Member Conference 2073’ held at the capital on Sunday.</p> <p style="text-align:justify">“Microfinance programs centralised in urban areas are likely to lead to frauds. We are also mapping the areas that microfinance should reach,” says Nepal.</p> <p style="text-align:justify">He suggested to decrease interest rate on loans provided by microfinance companies. "Microfinances need to decrease interest rates although their capital expenditure is high,” says Nepal, “The poor are hard hit by the high interest rates.” NRB recently opposed the government decision to set interest rate on loan provided by the microfinance companies. As per the decision, microfinance companies can charge maximum of 18 percent interest rate on loans.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3384', 'image' => '20160516031019_gov.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3549', 'article_category_id' => '1', 'title' => 'NEPSE Unveils Proposed Securities Listing Bylaw', 'sub_title' => '', 'summary' => 'May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.', 'content' => '<p style="text-align:justify">May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.</p> <p style="text-align:justify">The proposed listing bylaw has adopted policy to categorise companies in A, B, G and Z groups. Although the features of such companies has not been mentioned in the unveiled bylaw. However, as per the current practice in NEPSE, companies that earn profit for continuous five years, distributing above 20 percent in dividends, having paid-up capital of above Rs 20 million and having number of shareholders above 1,000 are categorised as ‘A’ listed. Likewise, companies with similar traits of ‘A’ but are reluctant to distribute dividend are kept in the ‘B’ group. Also, companies distributing up to 10 percent dividend for last five years will listed in ‘B’ group.</p> <p style="text-align:justify">The new group ‘Z’ will list the companies with problems relating to financial report and corporate governance. The list also includes companies having operational problems for last two years.</p> <p style="text-align:justify">Similarly, newly listed and companies that are unable to upgrade to other groups will be listed in the group ‘G’. Nevertheless, the new arrangements will be implemented only after Securities Board of Nepal (SEBON) endorsed the proposal of the bylaw submitted by the NEPSE on last Thursday. As per the Securities Listing Bylaw 2053, NEPSE has been categorising listed companies in ‘A’ and ‘B’ groups.</p> <p style="text-align:justify">Meanwhile, stakeholders who have been criticising the old classification mechanism as unscientific are expressing their dissatisfaction over the proposed bylaw. The dissatisfying group argue to consider weighted average of the companies as a base in the classification.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3383', 'image' => '20160516023853_nepe3.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3548', 'article_category_id' => '1', 'title' => 'First International Flight of US Bangla Airlines', 'sub_title' => '', 'summary' => 'May 16: US Bangla Airlines has launched its first international destination flight in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism for Bangladesh inaugurated the first international flight of the Airlines at Hazrat Shahjala International Airport, Dhaka. Similarly, Aananda Prasad Pokharel, Minister of Culture, Tourism and Civil Aviation for Nepal, inaugurated Kathmandu-Dhaka flight in Kathmandu.', 'content' => '<p style="text-align: justify;">May 16:<strong> </strong>US Bangla Airlines launched its first international destination in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism of Bangladesh inaugurated the first international flight of the airliner at Hazrat Shahjala International Airport, Dhaka. Similarly the Minister of Culture, Tourism and Civil Aviation of Nepal Aananda Prasad Pokharel inaugurated Kathmandu-Dhaka flight.</p> <p style="text-align: justify;">According to the airlines, the inaugural flight was operated from Kathmandu with Bombardier manufactured Dash 8-Q400 series with 78 passengers to Hazrat Shahjalal International Airport. The flight left for Dhaka from Kathmandu at 5:10 pm, May 15.“Initially, the flights will leave from Dhaka on Sunday, Tuesday and Thursday at 3:00 pm and will arrive in Kathmandu at 4:30 pm local time. The flight will leave Kathmandu at 5:10 pm and arrive in Dhaka at 7:10 pm,” informs the airlines in a press statement.</p> <p style="text-align: justify;">The company informed that the minimum round-trip fare for Kathmandu-Dhaka-Kathmandu is fixed for Rs 25,763 and one way fare is Rs 13,271 which includes all taxes and surcharges. US-Bangla Airlines started its operation on 17 July 2014. Currently, US-Bangla Airlines is operating three Canadian Bombardier manufactured new generation Dash 8-Q400 series aircrafts.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3382', 'image' => '20160516010041_usbangla.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3547', 'article_category_id' => '1', 'title' => 'SCB and Qatar Airways Renew Deal for Bank’s Priority Clients', 'sub_title' => '', 'summary' => 'May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients. As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.', 'content' => '<p>May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients.</p> <p>As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.</p> <p>Qatar Airways and the bank will continue to provide a special offer which can be accessed online or from the airlines city office by the bank’s priority banking card holders.</p> <p>In addition, SCB’s priority clients and their companions will be allowed to check-in at the local airport through the business class counter irrespective of whether or not the passenger holds a business class ticket.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3381', 'image' => null, 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3546', 'article_category_id' => '1', 'title' => 'Right Share of Ridi Hydropower in the Offing', 'sub_title' => '', 'summary' => 'May 15: Ridhi Hydropower Development Company is issuing 35 percent (1,155,000 units) right shares. The company is issuing 35 percent right shares in order to invest in 9.9MW IwaKhola Hydropower project that will operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.', 'content' => '<p style="text-align: justify;">May 15: Ridi Hydropower Development Company is issuing 35 percent (1.15 million units) right shares. The company is issuing right shares in order to invest in 9.9MW IwaKhola Hydropower Project that is targeted to operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.</p> <p style="text-align: justify;">In that respect, the company is assessing investment options such as increase promoters’ investment or re-floating IPO in future for the Rairang Project or IwaKhola Project. Currently, Rairang, a subsidiary company of Ridi Hydropower, has already invested Rs 850 million in the project. The electricity generated from the project has been price Rs 8.4 per unit in dry season and Rs 4.8 in rainy season. As per the Power Purchase Agreement (PPA), the rate will increased by 3 percent annually for five years. The project has aimed to connect and sell electricity from Kabeli sub-station in which transmission line in some parts are still under- construction.</p> <p style="text-align: justify;">The group of companies under Ridi Hydropower has total electricity capacity of 14.4MW. The company has collected Rs 574.7 million from selling electricity and has earned Rs 457.2 million net profit till July 2015. The company has distributed dividends averaging 10 percent to its investors. According to the statistics of July 2015, the company owes Rs 124 million for consortium banks’ finance. </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3380', 'image' => '20160515044345_rd.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3545', 'article_category_id' => '1', 'title' => 'Possibility Nears for Companies to Issue Right Share at Premium', 'sub_title' => '', 'summary' => 'May 15: Securities Board of Nepal (SEBON) has shown some flexibility on right shares issuance at premium subject that was in dispute for long time. Earlier, SEBON was contradicted to issue right shares at premium. However, SEBON has signalled that right share issuance at premium might be addressed if such decision is endorsed by the annual general meeting of any respective company.', 'content' => '<p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">May 15: Securities Board of Nepal (SEBON) has shown flexibility on the issuance of right shares at premium. The regulator has long opposed to issue right shares at premium. However, SEBON has signalled that the issuance of right shares at premium might be addressed if such decision is endorsed by the general meeting of respective companies. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“If investors themselves are willing to pay at premium, then we do not need to block it,” says Niraj Giri, Spokesperson of SEBON. Previously, SEBON opposed the system citing lack of autonomous pricing mechanism in domestic share market. The regulator also cites the lack of practice of purchasing unsold right shares by commercial buyers and market maker through systematic pricing mechanism. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">But again, SEBON might not approve the proposal of issuing right shares at premium easily.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“Some companies are taking the proposals on their AGMs. We will discuss the issue if such proposals come to us,” says Giri. Currently, Nepal SBI Bank has proposed to issue right shares at premium.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">Meanwhile, SEBON has also relaxed rating arrangement of right shares to banks and financial institutions with some conditions from Friday. Although, seeing the possibilities of fetching proposals of right share issuance at premium for approval, SEBON has made rating of such institutions mandatory. “Institutions issuing right shares at par (Rs 100) need not to do rating,” states SEBON directive. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">SEBON has relaxed rating of banks and financial institutions with some conditions. As per the SEBON directive, companies having per share net worth above Rs 100 or market value of share price above par value do not need to carry out rating. Similarly, companies earning continuous profit for last 5-3 years or bad debt ratio within limitation will also get the exemption. Likewise, the companies that are registered in company registrar office disclosing capital increase plan in article of association and regulation will also get such immunity. Most of the financial institutions are likely to fulfil the conditions of the board. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">After 10 months of Nepal Rastra Bank’s capital increment directive, SEBON has relaxed the rating arrangement. Citing right shares as medium to increase paid-up capital, need of carrying out right share issuance more than once and rating process that takes more than two months, banks have been demanding removal of rating system. SEBON made the new arrangement as per the request of NRB. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3379', 'image' => '20160515043917_sebon.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3544', 'article_category_id' => '1', 'title' => ' Application Opens for 2nd Wai Wai Glocal Teen Hero', 'sub_title' => '', 'summary' => 'May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.', 'content' => '<p style="text-align: justify;">May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.</p> <p style="text-align: justify;"> Bipana Sharma, a 17-year old child right activist had been felicitated with the First Glocal Teen Hero 2015 last year.</p> <p style="text-align: justify;">“Our promotional plans for this year is to reach the teenagers and give platform nationally, for which we will be going to six destination Pokhara, Chitwan, Bhairahawa, Biratnagar, Birgunj and Janakpur apart from Kathmandu Valley,” informs the company in a press statement.</p> <p style="text-align: justify;">According to the company, Glocal has partnered with Ministry of Youth & Sports,Wai Wai, BP Koirala India Nepal Foundation of Embassy of India, UNDP, Panchakanya Group, Coca-Cola, Hotel Soaltee, F1 Soft, Honda and Facts Research and Analytics to organise the program.</p> <p style="text-align: justify;">Chaudhary Group and Glocal Pvt Ltd have signed an agreement for the title sponsor. “We are glad to partner with Glocal Pvt Ltd to conduct Glocal Teen Hero and aspire to continue it for a long term.We take this as an opportunity to inform the general public that we are doing something from our part for social cause by supporting the teenagers,” said Nirvana Chaudhary, Managing Director of the Chaudhary Group</p> <p style="text-align: justify;">Meanwhile, Hotel Soaltee Crown Plaza is the Hospitality and Associate Partner for the program. <a name="_GoBack"></a></p> <p style="text-align: justify;"> “We have taken this partnership of organizations this year as the addition of a brick towards reaching our goal since it will help make ourinitiationof conducting Glocal Teen Hero a great success this year”, said Cajol Jha, Manager, and Public Relations at Glocal expressing the happiness to be associated to a renowned and prestigious organization to continue the legacy.</p> <p style="text-align: justify;">The application can be filled online on <a href="http://www.teenhero.glocalkhabar.com/">www.teenhero.glocalkhabar.com</a>. The deadline to submit the application is June 30.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3378', 'image' => '20160515013922_glocal.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3543', 'article_category_id' => '1', 'title' => 'Jyoti Bikas Bank’s SGM Held', 'sub_title' => '', 'summary' => 'May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.', 'content' => '<p style="text-align: justify;">May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.</p> <p style="text-align: justify;">Jyoti Bikas Bank and Hamro Bikas Bank signed a merger deal on last December. Similarly, Jyoti and Jhimruk Bikas Bank inked a merger agreement on January. Jyoti Bikas Bank conducted the assembly regarding the final acceptance of the merger process. </p> <p style="text-align: justify;">The new entity formed after the merger of three institutions will be named Jyoti Bikas Bank and will be headquartered at Kamaladi, Kathmandu. Similarly, the share ratio will be 1:1 for all three banks.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3377', 'image' => '20160515010224_joti.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3542', 'article_category_id' => '1', 'title' => 'ATM of Machhapuchchhre in Hile', 'sub_title' => '', 'summary' => 'May 15: Machhapuchchhre Bank has started its 72th ATM service in Hile, Dhankuta on May 13. “The bank aims to provide quick and reliable service to the customers of Hile through the ATM booth,” informs the bank in a press statement.', 'content' => '<p style="text-align: justify;">May 15: Machhapuchchhre Bank Limited has opened its 72th ATM counter in Hile, Dhankuta on May 13. “The bank will provide the quick and reliable service to the customers of Hile through this ATM booth,” informs the bank in a press statement.</p> <p style="text-align: justify;">The bank with the paid -up capital of Rs 3.33 billion has Rs 48.43 billion in deposits and Rs 40.81 billion in loans by the end of mid-April of the current fiscal year. During the period, the bank has logged operating profit of Rs 624.2 million.</p> <p style="text-align: justify;">Machhapuchchhre Bank, which began its service from Pokhara in the year 2000, has 56 branches, one extension counter and 72 ATMs. ”Customers should not pay any extra charge while using the Visa cards issued by the bank through its ATMs,” informs the statement.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3376', 'image' => '20160515113830_atm.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3541', 'article_category_id' => '1', 'title' => 'Suzuki Showroom at Kailali', 'sub_title' => '', 'summary' => 'VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom. Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet. According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. ', 'content' => '<p style="text-align: justify;">May 13: VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom.</p> <p style="text-align: justify;">Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet.</p> <p style="text-align: justify;">According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3375', 'image' => '20160513052339_suzuki.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3540', 'article_category_id' => '1', 'title' => 'Remit Agreement between Prabhu Bank and National Microfinance', 'sub_title' => '', 'summary' => 'May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.', 'content' => '<p>May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3374', 'image' => '20160513050120_prabhu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3539', 'article_category_id' => '1', 'title' => 'Spread Rate Helps Banks Profit Jump', 'sub_title' => '', 'summary' => 'May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.', 'content' => '<p style="text-align:justify">May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.</p> <p style="text-align:justify">Among the banks, NMB Bank logged the highest profit earning. The bank’s profit grew by 93 percent in mid-April of current FY compared to the same period last of FY. It is due to the profits accumulated by other banks that have merged with NMB.</p> <p style="text-align:justify">“This indicates that banks did not made significant reduction in loan interest rates compared to deposit interest rates during the period of high liquidity,” says Bhuwan Dhahal, CEO of Sanima Bank. The banks had set 2-4 percent interest rates on fixed deposit accounts due to lower investments caused by the devastating earthquake of last year followed by the border blockade. However, there was little reduction in interest rates of various loan categories except the short-term loans. During the period, the banks were charging 11-17 percent interest rate on various loan categories. Other than Prabhu, Standard Chartered, Lumbini, Nepal SBI and Agricultural Development Bank, spread rate of other banks are within the limit set by Nepal Rastra Bank. As per the NRB directive, such rates should not exceed 5 percent.</p> <p style="text-align:justify">Increase in spread rate has also attributed to the rise in the banks net interest income. The net interest income of the banks has increased by 17 percent to Rs 29.15 billion by mid-April of current FY compared to same period of last FY. During the period, deposit collection of the banks has increased by six percent while loans saw increment of only four percent.</p> <p style="text-align:justify"><img alt="" src="/userfiles/images/table%283%29.jpg" style="height:1007px; width:700px" /></p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3373', 'image' => null, 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3538', 'article_category_id' => '1', 'title' => 'Ford Exchange and Test Drive Fair', 'sub_title' => '', 'summary' => ' May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind. The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.', 'content' => '<p style="text-align: justify;">May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind.</p> <p style="text-align: justify;">The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3372', 'image' => '20160513012146_test drive.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3537', 'article_category_id' => '1', 'title' => 'AHF conducts 'Fund the Fund' Campaign', 'sub_title' => '', 'summary' => 'May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.', 'content' => '<p>May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3371', 'image' => '20160513011454_ahf.JPG', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3536', 'article_category_id' => '1', 'title' => 'EU and TI Nepal Join Hands to Promote Integrity in Reconstruction', 'sub_title' => '', 'summary' => 'May 13: The European Union and Transparency International Nepal in Kathmandu launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12. Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The 1 million Euros project, which is a part of a broader package of 105 million euro, will run for a period of 5 years to complement the rebuilding campaign with various accountability and transparency activities,” informs the joint press statement of two organizations.', 'content' => '<p>May 13: The European Union and Transparency International Nepal launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12.</p> <p>Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The Euro 1 million project, which is a part of a broader package of Euro 105 million, will run for a period of five years to complement the rebuilding campaign with various accountability and transparency activities,” informs a joint press statement of two organizations.</p> <p>Both parties reiterated the importance of promoting integrity in the context of post-Earthquake reconstruction. Ambassador Teerink stated, "Building Back Better Nepal is an opportunity to foster accountability and social cohesion in the country. We need to reach out in particular to the most vulnerable. With this action, launched today on the first anniversary of the second big quake, we underline the pivotal importance of the Civil Society in the process."</p> <p>Meanwhile, TI Nepal President Thapa expressed that disaster situations often exacerbate corruption; hence a more vigilant approach from civil society is crucial.</p> <p>The project is shrduled to work on three key levels in the earthquake reconstruction process: policy level, implementation level and post implementation level. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3370', 'image' => '20160513115846_eu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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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Dr Chiranjibi Nepal expresses the view in the inauguration program of ‘National Microfinance Member Conference 2073’ at Kathmandu on Sunday. “Microfinance programs centralised in cities lead to frauds. We are also mapping on areas that microfinance should reach,” says Nepal.', 'content' => '<p style="text-align:justify">May 16: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has urged microfinance to work in remote areas of the country. He warned that microfinances companies that are reluctant to go to remote areas will have to face cancelation of their licenses. Dr Nepal was speaking on the inauguration program of ‘National Microfinance Member Conference 2073’ held at the capital on Sunday.</p> <p style="text-align:justify">“Microfinance programs centralised in urban areas are likely to lead to frauds. We are also mapping the areas that microfinance should reach,” says Nepal.</p> <p style="text-align:justify">He suggested to decrease interest rate on loans provided by microfinance companies. "Microfinances need to decrease interest rates although their capital expenditure is high,” says Nepal, “The poor are hard hit by the high interest rates.” NRB recently opposed the government decision to set interest rate on loan provided by the microfinance companies. As per the decision, microfinance companies can charge maximum of 18 percent interest rate on loans.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3384', 'image' => '20160516031019_gov.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3549', 'article_category_id' => '1', 'title' => 'NEPSE Unveils Proposed Securities Listing Bylaw', 'sub_title' => '', 'summary' => 'May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.', 'content' => '<p style="text-align:justify">May 16: Nepal Stock Exchange (NEPSE) has unveiled the proposed securities listing bylaw on Sunday. The new mechanism of company listing that was only seen as a concept till few years back is likely to come into effect if the bylaw is implemented.</p> <p style="text-align:justify">The proposed listing bylaw has adopted policy to categorise companies in A, B, G and Z groups. Although the features of such companies has not been mentioned in the unveiled bylaw. However, as per the current practice in NEPSE, companies that earn profit for continuous five years, distributing above 20 percent in dividends, having paid-up capital of above Rs 20 million and having number of shareholders above 1,000 are categorised as ‘A’ listed. Likewise, companies with similar traits of ‘A’ but are reluctant to distribute dividend are kept in the ‘B’ group. Also, companies distributing up to 10 percent dividend for last five years will listed in ‘B’ group.</p> <p style="text-align:justify">The new group ‘Z’ will list the companies with problems relating to financial report and corporate governance. The list also includes companies having operational problems for last two years.</p> <p style="text-align:justify">Similarly, newly listed and companies that are unable to upgrade to other groups will be listed in the group ‘G’. Nevertheless, the new arrangements will be implemented only after Securities Board of Nepal (SEBON) endorsed the proposal of the bylaw submitted by the NEPSE on last Thursday. As per the Securities Listing Bylaw 2053, NEPSE has been categorising listed companies in ‘A’ and ‘B’ groups.</p> <p style="text-align:justify">Meanwhile, stakeholders who have been criticising the old classification mechanism as unscientific are expressing their dissatisfaction over the proposed bylaw. The dissatisfying group argue to consider weighted average of the companies as a base in the classification.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3383', 'image' => '20160516023853_nepe3.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3548', 'article_category_id' => '1', 'title' => 'First International Flight of US Bangla Airlines', 'sub_title' => '', 'summary' => 'May 16: US Bangla Airlines has launched its first international destination flight in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism for Bangladesh inaugurated the first international flight of the Airlines at Hazrat Shahjala International Airport, Dhaka. Similarly, Aananda Prasad Pokharel, Minister of Culture, Tourism and Civil Aviation for Nepal, inaugurated Kathmandu-Dhaka flight in Kathmandu.', 'content' => '<p style="text-align: justify;">May 16:<strong> </strong>US Bangla Airlines launched its first international destination in Dhaka-Kathmandu-Dhaka route on May 15. Rashed Khan Menon, Minister of Civil Aviation and Tourism of Bangladesh inaugurated the first international flight of the airliner at Hazrat Shahjala International Airport, Dhaka. Similarly the Minister of Culture, Tourism and Civil Aviation of Nepal Aananda Prasad Pokharel inaugurated Kathmandu-Dhaka flight.</p> <p style="text-align: justify;">According to the airlines, the inaugural flight was operated from Kathmandu with Bombardier manufactured Dash 8-Q400 series with 78 passengers to Hazrat Shahjalal International Airport. The flight left for Dhaka from Kathmandu at 5:10 pm, May 15.“Initially, the flights will leave from Dhaka on Sunday, Tuesday and Thursday at 3:00 pm and will arrive in Kathmandu at 4:30 pm local time. The flight will leave Kathmandu at 5:10 pm and arrive in Dhaka at 7:10 pm,” informs the airlines in a press statement.</p> <p style="text-align: justify;">The company informed that the minimum round-trip fare for Kathmandu-Dhaka-Kathmandu is fixed for Rs 25,763 and one way fare is Rs 13,271 which includes all taxes and surcharges. US-Bangla Airlines started its operation on 17 July 2014. Currently, US-Bangla Airlines is operating three Canadian Bombardier manufactured new generation Dash 8-Q400 series aircrafts.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-16', 'modified' => '2016-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '3382', 'image' => '20160516010041_usbangla.jpg', 'article_date' => '2016-05-16 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3547', 'article_category_id' => '1', 'title' => 'SCB and Qatar Airways Renew Deal for Bank’s Priority Clients', 'sub_title' => '', 'summary' => 'May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients. As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.', 'content' => '<p>May 15: Standard Chartered Bank (SCB) Nepal and Qatar Airways have extended an agreement for a business tie-up for SCB’s priority clients.</p> <p>As per the agreement, the bank’s priority clients can get a seven percent discount from Qatar Airways while flying in economy class and a ten percent discount in business class. This forms an exclusive savings on tickets from Kathmandu to over 151 diversified destinations throughout the world with Qatar’s global network.</p> <p>Qatar Airways and the bank will continue to provide a special offer which can be accessed online or from the airlines city office by the bank’s priority banking card holders.</p> <p>In addition, SCB’s priority clients and their companions will be allowed to check-in at the local airport through the business class counter irrespective of whether or not the passenger holds a business class ticket.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3381', 'image' => null, 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3546', 'article_category_id' => '1', 'title' => 'Right Share of Ridi Hydropower in the Offing', 'sub_title' => '', 'summary' => 'May 15: Ridhi Hydropower Development Company is issuing 35 percent (1,155,000 units) right shares. The company is issuing 35 percent right shares in order to invest in 9.9MW IwaKhola Hydropower project that will operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.', 'content' => '<p style="text-align: justify;">May 15: Ridi Hydropower Development Company is issuing 35 percent (1.15 million units) right shares. The company is issuing right shares in order to invest in 9.9MW IwaKhola Hydropower Project that is targeted to operate commercially from 2018 July. However, the issuance will fetch only Rs 110 million in the total of Rs 1.60 billion project. The project is being constructed from 65 percent loan and 35 percent share investment. Among the share investment, the company is still short of Rs 420 million.</p> <p style="text-align: justify;">In that respect, the company is assessing investment options such as increase promoters’ investment or re-floating IPO in future for the Rairang Project or IwaKhola Project. Currently, Rairang, a subsidiary company of Ridi Hydropower, has already invested Rs 850 million in the project. The electricity generated from the project has been price Rs 8.4 per unit in dry season and Rs 4.8 in rainy season. As per the Power Purchase Agreement (PPA), the rate will increased by 3 percent annually for five years. The project has aimed to connect and sell electricity from Kabeli sub-station in which transmission line in some parts are still under- construction.</p> <p style="text-align: justify;">The group of companies under Ridi Hydropower has total electricity capacity of 14.4MW. The company has collected Rs 574.7 million from selling electricity and has earned Rs 457.2 million net profit till July 2015. The company has distributed dividends averaging 10 percent to its investors. According to the statistics of July 2015, the company owes Rs 124 million for consortium banks’ finance. </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3380', 'image' => '20160515044345_rd.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3545', 'article_category_id' => '1', 'title' => 'Possibility Nears for Companies to Issue Right Share at Premium', 'sub_title' => '', 'summary' => 'May 15: Securities Board of Nepal (SEBON) has shown some flexibility on right shares issuance at premium subject that was in dispute for long time. Earlier, SEBON was contradicted to issue right shares at premium. However, SEBON has signalled that right share issuance at premium might be addressed if such decision is endorsed by the annual general meeting of any respective company.', 'content' => '<p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">May 15: Securities Board of Nepal (SEBON) has shown flexibility on the issuance of right shares at premium. The regulator has long opposed to issue right shares at premium. However, SEBON has signalled that the issuance of right shares at premium might be addressed if such decision is endorsed by the general meeting of respective companies. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“If investors themselves are willing to pay at premium, then we do not need to block it,” says Niraj Giri, Spokesperson of SEBON. Previously, SEBON opposed the system citing lack of autonomous pricing mechanism in domestic share market. The regulator also cites the lack of practice of purchasing unsold right shares by commercial buyers and market maker through systematic pricing mechanism. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">But again, SEBON might not approve the proposal of issuing right shares at premium easily.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">“Some companies are taking the proposals on their AGMs. We will discuss the issue if such proposals come to us,” says Giri. Currently, Nepal SBI Bank has proposed to issue right shares at premium.</span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">Meanwhile, SEBON has also relaxed rating arrangement of right shares to banks and financial institutions with some conditions from Friday. Although, seeing the possibilities of fetching proposals of right share issuance at premium for approval, SEBON has made rating of such institutions mandatory. “Institutions issuing right shares at par (Rs 100) need not to do rating,” states SEBON directive. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">SEBON has relaxed rating of banks and financial institutions with some conditions. As per the SEBON directive, companies having per share net worth above Rs 100 or market value of share price above par value do not need to carry out rating. Similarly, companies earning continuous profit for last 5-3 years or bad debt ratio within limitation will also get the exemption. Likewise, the companies that are registered in company registrar office disclosing capital increase plan in article of association and regulation will also get such immunity. Most of the financial institutions are likely to fulfil the conditions of the board. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt">After 10 months of Nepal Rastra Bank’s capital increment directive, SEBON has relaxed the rating arrangement. Citing right shares as medium to increase paid-up capital, need of carrying out right share issuance more than once and rating process that takes more than two months, banks have been demanding removal of rating system. SEBON made the new arrangement as per the request of NRB. </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> <p style="text-align: justify;"><span style="font-family:helvetica,sans-serif; font-size:12.5pt"> </span></p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3379', 'image' => '20160515043917_sebon.JPG', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3544', 'article_category_id' => '1', 'title' => ' Application Opens for 2nd Wai Wai Glocal Teen Hero', 'sub_title' => '', 'summary' => 'May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.', 'content' => '<p style="text-align: justify;">May 15: The application for the second edition of ‘Wai Wai Glocal Teen Hero’ has been opened from today. Wai Wai Glocal Teen Hero is an initiation by Glocal Khabar, sister concern of Glocal Pvt Ltd, designed to recognize dedicated, passionate and innovative teenagers so as to encourage teenagers’ initiatives in Nepal.</p> <p style="text-align: justify;"> Bipana Sharma, a 17-year old child right activist had been felicitated with the First Glocal Teen Hero 2015 last year.</p> <p style="text-align: justify;">“Our promotional plans for this year is to reach the teenagers and give platform nationally, for which we will be going to six destination Pokhara, Chitwan, Bhairahawa, Biratnagar, Birgunj and Janakpur apart from Kathmandu Valley,” informs the company in a press statement.</p> <p style="text-align: justify;">According to the company, Glocal has partnered with Ministry of Youth & Sports,Wai Wai, BP Koirala India Nepal Foundation of Embassy of India, UNDP, Panchakanya Group, Coca-Cola, Hotel Soaltee, F1 Soft, Honda and Facts Research and Analytics to organise the program.</p> <p style="text-align: justify;">Chaudhary Group and Glocal Pvt Ltd have signed an agreement for the title sponsor. “We are glad to partner with Glocal Pvt Ltd to conduct Glocal Teen Hero and aspire to continue it for a long term.We take this as an opportunity to inform the general public that we are doing something from our part for social cause by supporting the teenagers,” said Nirvana Chaudhary, Managing Director of the Chaudhary Group</p> <p style="text-align: justify;">Meanwhile, Hotel Soaltee Crown Plaza is the Hospitality and Associate Partner for the program. <a name="_GoBack"></a></p> <p style="text-align: justify;"> “We have taken this partnership of organizations this year as the addition of a brick towards reaching our goal since it will help make ourinitiationof conducting Glocal Teen Hero a great success this year”, said Cajol Jha, Manager, and Public Relations at Glocal expressing the happiness to be associated to a renowned and prestigious organization to continue the legacy.</p> <p style="text-align: justify;">The application can be filled online on <a href="http://www.teenhero.glocalkhabar.com/">www.teenhero.glocalkhabar.com</a>. The deadline to submit the application is June 30.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3378', 'image' => '20160515013922_glocal.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3543', 'article_category_id' => '1', 'title' => 'Jyoti Bikas Bank’s SGM Held', 'sub_title' => '', 'summary' => 'May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.', 'content' => '<p style="text-align: justify;">May 15: Jyoti Bikas Bank has conducted a special general assembly (SGM) for merger. Dhurba Koirala, Chairman of the bank presented a special report on the merger of Hamro Bikas Bank of Nuwakot and Jhimruk Bikas Bank of Pyuthan.</p> <p style="text-align: justify;">Jyoti Bikas Bank and Hamro Bikas Bank signed a merger deal on last December. Similarly, Jyoti and Jhimruk Bikas Bank inked a merger agreement on January. Jyoti Bikas Bank conducted the assembly regarding the final acceptance of the merger process. </p> <p style="text-align: justify;">The new entity formed after the merger of three institutions will be named Jyoti Bikas Bank and will be headquartered at Kamaladi, Kathmandu. Similarly, the share ratio will be 1:1 for all three banks.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3377', 'image' => '20160515010224_joti.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3542', 'article_category_id' => '1', 'title' => 'ATM of Machhapuchchhre in Hile', 'sub_title' => '', 'summary' => 'May 15: Machhapuchchhre Bank has started its 72th ATM service in Hile, Dhankuta on May 13. “The bank aims to provide quick and reliable service to the customers of Hile through the ATM booth,” informs the bank in a press statement.', 'content' => '<p style="text-align: justify;">May 15: Machhapuchchhre Bank Limited has opened its 72th ATM counter in Hile, Dhankuta on May 13. “The bank will provide the quick and reliable service to the customers of Hile through this ATM booth,” informs the bank in a press statement.</p> <p style="text-align: justify;">The bank with the paid -up capital of Rs 3.33 billion has Rs 48.43 billion in deposits and Rs 40.81 billion in loans by the end of mid-April of the current fiscal year. During the period, the bank has logged operating profit of Rs 624.2 million.</p> <p style="text-align: justify;">Machhapuchchhre Bank, which began its service from Pokhara in the year 2000, has 56 branches, one extension counter and 72 ATMs. ”Customers should not pay any extra charge while using the Visa cards issued by the bank through its ATMs,” informs the statement.</p> ', 'published' => true, 'created' => '2016-05-15', 'modified' => '2016-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '3376', 'image' => '20160515113830_atm.jpg', 'article_date' => '2016-05-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3541', 'article_category_id' => '1', 'title' => 'Suzuki Showroom at Kailali', 'sub_title' => '', 'summary' => 'VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom. Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet. According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. ', 'content' => '<p style="text-align: justify;">May 13: VG Automobiles, the authorised distributor of Suzuki two- wheelers in Nepal have opened a showroom at Tikapur, Kailali. The company has partnered with Bhandari and Sons regarding the operation of the showroom.</p> <p style="text-align: justify;">Suman Dhital, Head of Regional Administrative Office, Adhir Kumar Shrestha, General Manager VG Automobiles and Amit Bhandari, Proprietor of Bhandari and Sons were present during the inauguration of the outlet.</p> <p style="text-align: justify;">According to the Bhandari, Suzuki motorcycles and scooters ranging from Rs 164,900 – 279,900 are available in the showroom. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3375', 'image' => '20160513052339_suzuki.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3540', 'article_category_id' => '1', 'title' => 'Remit Agreement between Prabhu Bank and National Microfinance', 'sub_title' => '', 'summary' => 'May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.', 'content' => '<p>May 13: Prabhu Money Transfer and National Microfinance Bittiya Sanstha Limited have signed a remittance agreement. Rameshwor Sapkota, Deputy General Manager of Prabhu Money Transfer and Ram Bahadur Yadav, CEO of National Microfinance signed the agreement on behalf of their respective organisations amid a program held at the head office of the microfinance in Dhading Besi. The Sanstha which has received nationwide transaction permit has 24 branches in districts including Dhading, Bhaktapur, Parsa, Sindhupalchowk, Morang, Siraha, Kailali, Banke, Palpa.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3374', 'image' => '20160513050120_prabhu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3539', 'article_category_id' => '1', 'title' => 'Spread Rate Helps Banks Profit Jump', 'sub_title' => '', 'summary' => 'May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.', 'content' => '<p style="text-align:justify">May 13: Despite the adverse investment scenario, profit of commercial banks has increased by 36 percent due to the rise in spread rate (difference in deposit and loan interest rates). Among the total 29 banks in operation, 26 have published third quarter financial reports of the current fiscal year. Based on the reports, their profit has increased compared to same period of last FY. Profit of the banks which had totalled Rs 15.51 billion by mid-April of last FY jumped to Rs 21 billion in the same period of the current FY. The banks have increased spread rate by 0.01-1.11 percent by mid-April compared to last month of the FY 2071/72.</p> <p style="text-align:justify">Among the banks, NMB Bank logged the highest profit earning. The bank’s profit grew by 93 percent in mid-April of current FY compared to the same period last of FY. It is due to the profits accumulated by other banks that have merged with NMB.</p> <p style="text-align:justify">“This indicates that banks did not made significant reduction in loan interest rates compared to deposit interest rates during the period of high liquidity,” says Bhuwan Dhahal, CEO of Sanima Bank. The banks had set 2-4 percent interest rates on fixed deposit accounts due to lower investments caused by the devastating earthquake of last year followed by the border blockade. However, there was little reduction in interest rates of various loan categories except the short-term loans. During the period, the banks were charging 11-17 percent interest rate on various loan categories. Other than Prabhu, Standard Chartered, Lumbini, Nepal SBI and Agricultural Development Bank, spread rate of other banks are within the limit set by Nepal Rastra Bank. As per the NRB directive, such rates should not exceed 5 percent.</p> <p style="text-align:justify">Increase in spread rate has also attributed to the rise in the banks net interest income. The net interest income of the banks has increased by 17 percent to Rs 29.15 billion by mid-April of current FY compared to same period of last FY. During the period, deposit collection of the banks has increased by six percent while loans saw increment of only four percent.</p> <p style="text-align:justify"><img alt="" src="/userfiles/images/table%283%29.jpg" style="height:1007px; width:700px" /></p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3373', 'image' => null, 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3538', 'article_category_id' => '1', 'title' => 'Ford Exchange and Test Drive Fair', 'sub_title' => '', 'summary' => ' May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind. The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.', 'content' => '<p style="text-align: justify;">May 13: Ford, a multinational motor company, has started exchange and test drive fair on Pokhara from May 12. The fair will end on May 14. According to Chabi Gautam, Sales Manager of Ford in Nepal, the fair has been organised keeping the customers’ benefits in mind.</p> <p style="text-align: justify;">The fair was organised by Auto Venture, the authorised distributer of Ford in Pokhara. According to the company, customers bringing old cars during the fair will receive maximum price for their vehicles. The company is also offering special discount in exchange of cars.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3372', 'image' => '20160513012146_test drive.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3537', 'article_category_id' => '1', 'title' => 'AHF conducts 'Fund the Fund' Campaign', 'sub_title' => '', 'summary' => 'May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.', 'content' => '<p>May 13: AIDS Health Care Foundation (AHF) Nepal has organised the ‘fund the fund’ campaign. "The campaign helps in gaining the commitment of the donor agency countries to increase their contribution in global fund," informs Deepak Dhungel, Country Director of AHF Nepal. AHF and HIV Association along with various other joint venture organizations, through fund the fund campaign are requesting economically strong countries like Germany, China and Japan for collecting the 5th round global fund of Rs 13 billion. "Global fund is not able to meet its targeted fund since 2010 due to decreasing commitment of donor agencies," mentions Dhungel. AHF has submitted memorandum to the respective embassies on May 12, 2016 regarding the issue.</p> <p> </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3371', 'image' => '20160513011454_ahf.JPG', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3536', 'article_category_id' => '1', 'title' => 'EU and TI Nepal Join Hands to Promote Integrity in Reconstruction', 'sub_title' => '', 'summary' => 'May 13: The European Union and Transparency International Nepal in Kathmandu launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12. Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The 1 million Euros project, which is a part of a broader package of 105 million euro, will run for a period of 5 years to complement the rebuilding campaign with various accountability and transparency activities,” informs the joint press statement of two organizations.', 'content' => '<p>May 13: The European Union and Transparency International Nepal launched a support program to foster integrity in the post-earthquake reconstruction and rehabilitation process on May 12.</p> <p>Head of the Delegation of the European Union to Nepal, Ambassador Rensje Teerink and President of Transparency International (TI) Nepal, Bharat Bahadur Thapa signed the project documents on behalf of their organizations. “The Euro 1 million project, which is a part of a broader package of Euro 105 million, will run for a period of five years to complement the rebuilding campaign with various accountability and transparency activities,” informs a joint press statement of two organizations.</p> <p>Both parties reiterated the importance of promoting integrity in the context of post-Earthquake reconstruction. Ambassador Teerink stated, "Building Back Better Nepal is an opportunity to foster accountability and social cohesion in the country. We need to reach out in particular to the most vulnerable. With this action, launched today on the first anniversary of the second big quake, we underline the pivotal importance of the Civil Society in the process."</p> <p>Meanwhile, TI Nepal President Thapa expressed that disaster situations often exacerbate corruption; hence a more vigilant approach from civil society is crucial.</p> <p>The project is shrduled to work on three key levels in the earthquake reconstruction process: policy level, implementation level and post implementation level. </p> ', 'published' => true, 'created' => '2016-05-13', 'modified' => '2016-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '3370', 'image' => '20160513115846_eu.jpg', 'article_date' => '2016-05-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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
