Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '3488',
			'article_category_id' => '1',
			'title' => 'Govt Plans Mandatory Listing of Real Sector in Stock Market',
			'sub_title' => '',
			'summary' => 'May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.  “Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,” says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).',
			'content' => '<p style="text-align: justify;">May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.&nbsp; &ldquo;Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,&rdquo; says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).</p>

<p style="text-align: justify;">Secretary Khanal made the comments in a discussion program organised by Securities Board of Nepal (SEBON) on Saturday. According to him, the plan is likely to include raising tax subsidies in the first phase and if it does not work then it will be made compulsory for the companies of certain sectors to be listed in the stock market. At present, there is a provision of 10 percent discount on institutional income tax if companies of particular sector enter the stock market.</p>

<p style="text-align: justify;">However, such provision has not been successful to lure real sector companies in the market. Meanwhile, MoF has also come up with a plan to provide tax subsidy for two years citing the ineffectiveness of the existing policy. &ldquo;We will provide such subsidy only after ensuring that it increases the total production of a company and shares of such company is easily traded,&rdquo; mentions Dr Bashudev Sharma, Deputy Secretary of the ministry. He presented tax related data of some countries and said that all transactions of Nepali stock market are not as unscientific as per international trends.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3323',
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			'article_date' => '2016-05-08 00:00:00',
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			'id' => '3487',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Receives AA- Credit Rating',
			'sub_title' => '',
			'summary' => 'May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.  According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.',
			'content' => '<p>May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.&nbsp; According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.</p>

<p>&nbsp;&ldquo;ICRA has assigned the rating taking into the account of the bank&rsquo;s good market position, healthy profitability, adequate capitalization, comfortable solvency profile, diversified earning profile and low cost of funds supported by healthy deposit profile and experienced management team,&rdquo; informs the bank in a press statement citing ICRA Nepal.</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3322',
			'image' => '20160508021418_nabil.jpg',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3486',
			'article_category_id' => '1',
			'title' => 'Nepal Management Symposium Concluded',
			'sub_title' => '',
			'summary' => 'May 8: “Nepal Management Symposium” organised by Kathmandu College of Management concluded its two day event on Saturday. The event was held with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issue. The Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.',
			'content' => '<p>May 8: Nepal Management Symposium organised by Kathmandu College of Management has concluded its two day event on Saturday. The event was organised with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issues. Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.</p>

<p>Around 300 students, businessmen and entrepreneurs from various sector participated in the symposium. 19 national and international academic experts in the related field were the speakers of the event.</p>

<p>The keynote speaker for the event was Radhesh Pant, CEO of Investment Board Nepal, who talked about positive and liberal attitude and how it leads towards the success in the business world. &ldquo;If you believe that you are doing the right thing, continue focusing on the same. If you get up in the morning and are exited for your job, then stick to your job,&rdquo; he said.</p>

<p>&ldquo;Entrepreneur is the most used word in this era and we are in the third era of entrepreneurship which is its digital era,&rdquo; mentioned Pacapol Anurit, Dean of International College of Siam University, Thailand.</p>

<p>The symposium was divided into three sessions where topics like Marketing, Tourism, Banking and Nepal&rsquo;s future in marketing were discussed.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3321',
			'image' => '20160508124651_20160507052213__DSC8862 kcm.jpg',
			'article_date' => '2016-05-08 00:00:00',
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		'Article' => array(
			'id' => '3484',
			'article_category_id' => '1',
			'title' => 'Sindhu Development and United Finance to Issue Right Shares',
			'sub_title' => '',
			'summary' => 'May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.',
			'content' => '<p style="text-align: justify;">May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.</p>

<p style="text-align: justify;">Founded on 2010, Sidhu Development Bank will have Rs 2.4 million in paid-up capital after the right shares issuance. According to Nepal Rastra Bank, the bank required to increase its paid up capital up to Rs 500 million. ICRA explained that the bank&rsquo;s bad debt has not increased even after the devastating earthquake and border blockade which might be, due to the concession provided by the regulatory body. Meanwhile, immature loan of the bank has increased to 19 percent from 11 percent. The company has mostly low cost deposit, at the same time; capital fund expenditure of the company is also below from overall sector. ICRA explained that profit rate; net worth per share and asset return of the bank is at average. Likewise, net interest margin of the bank is satisfactory.</p>

<p style="text-align: justify;">Similarly, founded on 1996, United Finance will have Rs 580 million in paid-up capital after the issuance of right shares. The finance will have to increase its paid-up capital to Rs 800 million, as per NRB directive. ICRA has mentioned that weak deposit profile (21 percent vs.48percent for industry) as a constraint of the company. &nbsp;ICRA also revealed that high deposit concentration (31 percent among top 20 depositors), high product concentration and lack of diversity in earnings of the finance as its negative points. Although the company&rsquo;s bad debt has increased to 1.23 percent currently, it is below than the overall industry. ICRA has disclosed that the annual overall growth of loan of the company&nbsp; is at average (annual 10 percent&nbsp; during the last four years).</p>
',
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			'description' => '',
			'sortorder' => '3319',
			'image' => null,
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3483',
			'article_category_id' => '1',
			'title' => 'Global IME Starts Remit Service from Saudi Arabia',
			'sub_title' => '',
			'summary' => ' May 8: Global IME has started remittance service from Saudi Arabia. “With the start of this service, Nepalis in Saudi Arab can send money from 50 agents of AlAhli Bank’s Quick Pay service,’ informs the bank in a press statement.  According to the bank, the payments of money sent from Saudi under this service can be easily taken from all the branches of Global IME bank across the country and agents of the remit. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.',
			'content' => '<p>May 8: Global IME has started remittance service from Saudi Arabia. &ldquo;With the start of this service, Nepalis living in Saudi Arabia can send money from 50 agents of AlAhli Bank&rsquo;s Quick Pay service,&rsquo; informs the bank in a press statement.&nbsp; According to the bank, the payments sent from Saudi Arabia under this service can be easily taken from all branches of Global IME Bank and remit service agents across Nepal. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3318',
			'image' => '20160508105804_global.JPG',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3482',
			'article_category_id' => '1',
			'title' => 'Digitisation Mandatory from June',
			'sub_title' => '',
			'summary' => 'The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.',
			'content' => '<p style="text-align:justify">May6: The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.</p>

<p style="text-align:justify">The government three years ago had issued a notice to convert the cable TV signals into digital by Baisakh 15, 2073. &ldquo;During this period, some cable TV service providers have submitted their work plan,&rdquo; said Anup Nepal, Joint Secretary of Frequency Management Branch of Ministry of Information and Communication. &ldquo;We have not received work plans of some service providers.&rdquo; According to him, the delay might have been caused by the slow delivery of work plans as service providers from of outside the valley need to send their documents through the post office.</p>

<p style="text-align:justify">Some cable TV operators have mentioned the ministry that the lack of infrastructures in the main metropolitan and sub-metropolitan areas as the major reason for the delay in digitisation process. The ministry, meanwhile, has also agreed on the issue and has extended the deadline of digitization by June.</p>

<p style="text-align:justify">Nevertheless, the signals of all cable TVs need to be digitized by June. As per the new decision, licenses of the companies who have presented their work plans will be renewed as digital licenses. Joint Secretary Nepal informed that licenses of the companies who do not submit their work plans in the extended period will have their licenses cancelled.</p>

<p style="text-align:justify"><strong>What is digitisation?</strong></p>

<p style="text-align:justify">According to Joint Secretary Nepal, the cable TV business will become more transparent if the signals are converted into digital. According to him, adoption of new technology will helps in inspection while also aids in the increment of national revenue. In analog technology, users can divide a single cable TV line for many television sets whereas, in digital technology, a setup-box needs to be installed for each television. In this technology user can not divide the line which helps in keeping the exact figures of users.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3317',
			'image' => '20160506043826_tv.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
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			'id' => '3481',
			'article_category_id' => '1',
			'title' => ' New Outlet of Suzuki in Biratnagar',
			'sub_title' => '',
			'summary' => 'May 5 : Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. “We have opened this outlet with an aim to provide high standard motorbikes,” informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5.  Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. “Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.”',
			'content' => '<p style="text-align:justify">May 5&nbsp;: Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. &ldquo;We have opened this outlet with an aim to provide high standard motorbikes,&rdquo; informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5. &nbsp;Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. &ldquo;Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.&rdquo;</p>

<p style="text-align:justify">&ldquo;We are selling motorcycles and scooters with price ranging from Rs 164900 to Rs 279900,&rdquo; informed the outlet operator, Suraj Dhimal. On the occasion of the opening, customers were also provided with various gift hampers. With the opening of the outlet, Dhimal Brothers and Auto Trade have also signed a new trade agreement with VG Automobiles, the authorised distributor of Suzuki two-wheelers in Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3316',
			'image' => '20160506033927_VG.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '3479',
			'article_category_id' => '1',
			'title' => 'NCC Bank Provides Drinking Water to Marginalised Groups',
			'sub_title' => '',
			'summary' => 'May 6:  Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.',
			'content' => '<p style="text-align: justify;">May 6: &nbsp;Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.</p>

<p style="text-align: justify;">Laxmi Prapanna Niraula, Coordinator of the bank&#39;s management committee and Chintamani Siwakoti, Deputy Governor of Nepal Rastra Bank jointly inaugurated the construction of tube wells.&nbsp; According to the bank, around 323 households will directly benefit from the project.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3315',
			'image' => '20160506012258_ncc.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 8 => array(
		'Article' => array(
			'id' => '3478',
			'article_category_id' => '1',
			'title' => 'Swap Ratio of BOK and Lumbini Bank Decided',
			'sub_title' => '',
			'summary' => 'May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting.',
			'content' => '<p style="text-align: justify;"><span style="font-size:13pt">May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting. </span></p>

<p style="text-align: justify;"><span style="font-size:13pt">The share swap ratio of BOK and Lumbini Bank has been fixed at 100:82. The banks have fixed swap ratio after six months of merger agreement.</span></p>

<p style="text-align: justify;"><span style="font-size:13pt">After the merger, the bank will have 69 branches and 62 ATMs. At present, BOK has 51 branches and 57 ATMs while Lumbini Bank has 18 branches and 5 ATMs.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3314',
			'image' => '20160506012113_bok&LUMBINI.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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		'Article' => array(
			'id' => '3477',
			'article_category_id' => '1',
			'title' => 'NMB Invests in Hotel Marriott',
			'sub_title' => '',
			'summary' => 'May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.',
			'content' => '<p>May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.</p>

<p>Hotel Marriott will have 230 rooms along with facilities of swimming pool, casino, mini gulf, conference hall, banquet hall, health club and spa. The hotel that is also a chain of Marriott International, a leading hotel chain based in Maryland, USA, is expected to come into operation in 2018.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3313',
			'image' => '20160506123853_hotel.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '3476',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Kumari and YES Remit',
			'sub_title' => '',
			'summary' => 'May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.',
			'content' => '<p style="text-align:justify">May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3312',
			'image' => '20160506114146_yes.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '3475',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Starts Branchless Banking in Mahottari',
			'sub_title' => '',
			'summary' => 'May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.',
			'content' => '<p>May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.</p>

<p>At present, the bank is providing modern banking services through 53 branches and 67 ATMs. It is a third branchless banking service opening of the bank. Previously, Sunrise Bank has started branchless banking services in Mangaltal of Kavre and Bahundangi of Jhapa.&nbsp;</p>
',
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			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3311',
			'image' => '20160506112148_sunrise.jpg',
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		'Article' => array(
			'id' => '3474',
			'article_category_id' => '1',
			'title' => 'NCM Merchant Issue Manager of CEDB Hydro Fund',
			'sub_title' => '',
			'summary' => 'May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.  Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.',
			'content' => '<p style="text-align: justify;">May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.</p>

<p style="text-align: justify;">Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.</p>

<p style="text-align: justify;">CEDB hydro fund has been founded in 2009 by Clean Energy Development Bank in order to promote and develop Hydro Power Projects in Nepal. Presently, Radhi Hydropower Project (4.4MW), Sange Hydropower Project (183KW) and Khudi Hydropower Project (4MW) are operating under the company.&nbsp;</p>
',
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			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3310',
			'image' => '20160506110440_ncm.jpg',
			'article_date' => '2016-05-06 00:00:00',
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			'id' => '3473',
			'article_category_id' => '1',
			'title' => 'Apex Short Film Festival 2016 begins',
			'sub_title' => '',
			'summary' => 'May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was ‘Freedom’.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. “Desire” bagged the first prize in the contest, “Two Souls” and “The Feels” were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.  According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.',
			'content' => '<p>May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was &lsquo;Freedom&rsquo;.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. &ldquo;Desire&rdquo; bagged the first prize in the contest, &ldquo;Two Souls&rdquo; and &ldquo;The Feels&rdquo; were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.</p>

<p>According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-05',
			'modified' => '2016-05-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3309',
			'image' => null,
			'article_date' => '2016-05-05 00:00:00',
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		'Article' => array(
			'id' => '3472',
			'article_category_id' => '1',
			'title' => 'SEBON’s New Directive on Right Share and Auction Bidding Sale',
			'sub_title' => '',
			'summary' => 'May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.  SEBON concluded that a day notice as per the current a',
			'content' => '<p style="text-align: justify;">May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.</p>

<p style="text-align: justify;">SEBON concluded that a day notice as per the current arrangement is not sufficient for flow of information during share issuance due to which shareholders miss out from applying for the shares. Therefore, SEBON has formulated new arrangement in order to make information system more effective for the benefits of shareholders. The board expects that the new arrangement will develop the share market, making it healthy, transparent and controlled. According to the new arrangement, while issuing the right shares, companies will have to publish notices in at least two national newspapers in the first week. Similarly, in the second week, share notification should be broadcasted in one national newspaper. Likewise, in the third and fourth week, at least two online newspapers and two FM stations should flow the information consecutively. &nbsp;</p>

<p style="text-align: justify;">Similarly, in the case of auction bidding sale of shares, companies need to broadcast the information in at least two online newspapers, seven days prior to opening of sales. Likewise, five days prior to the sales, information should be broadcasted from two major FM stations and three days before the sales, information should be broadcasted from two major national economic newspapers. Additionally, companies need to provide softcopy of the notice to the board two days before the issuance of the notice. SEBON believes that the kind of information broadcasting will reach investors to a greater extent.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '3488',
			'article_category_id' => '1',
			'title' => 'Govt Plans Mandatory Listing of Real Sector in Stock Market',
			'sub_title' => '',
			'summary' => 'May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.  “Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,” says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).',
			'content' => '<p style="text-align: justify;">May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.&nbsp; &ldquo;Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,&rdquo; says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).</p>

<p style="text-align: justify;">Secretary Khanal made the comments in a discussion program organised by Securities Board of Nepal (SEBON) on Saturday. According to him, the plan is likely to include raising tax subsidies in the first phase and if it does not work then it will be made compulsory for the companies of certain sectors to be listed in the stock market. At present, there is a provision of 10 percent discount on institutional income tax if companies of particular sector enter the stock market.</p>

<p style="text-align: justify;">However, such provision has not been successful to lure real sector companies in the market. Meanwhile, MoF has also come up with a plan to provide tax subsidy for two years citing the ineffectiveness of the existing policy. &ldquo;We will provide such subsidy only after ensuring that it increases the total production of a company and shares of such company is easily traded,&rdquo; mentions Dr Bashudev Sharma, Deputy Secretary of the ministry. He presented tax related data of some countries and said that all transactions of Nepali stock market are not as unscientific as per international trends.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3323',
			'image' => null,
			'article_date' => '2016-05-08 00:00:00',
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		'Article' => array(
			'id' => '3487',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Receives AA- Credit Rating',
			'sub_title' => '',
			'summary' => 'May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.  According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.',
			'content' => '<p>May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.&nbsp; According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.</p>

<p>&nbsp;&ldquo;ICRA has assigned the rating taking into the account of the bank&rsquo;s good market position, healthy profitability, adequate capitalization, comfortable solvency profile, diversified earning profile and low cost of funds supported by healthy deposit profile and experienced management team,&rdquo; informs the bank in a press statement citing ICRA Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3322',
			'image' => '20160508021418_nabil.jpg',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '3486',
			'article_category_id' => '1',
			'title' => 'Nepal Management Symposium Concluded',
			'sub_title' => '',
			'summary' => 'May 8: “Nepal Management Symposium” organised by Kathmandu College of Management concluded its two day event on Saturday. The event was held with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issue. The Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.',
			'content' => '<p>May 8: Nepal Management Symposium organised by Kathmandu College of Management has concluded its two day event on Saturday. The event was organised with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issues. Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.</p>

<p>Around 300 students, businessmen and entrepreneurs from various sector participated in the symposium. 19 national and international academic experts in the related field were the speakers of the event.</p>

<p>The keynote speaker for the event was Radhesh Pant, CEO of Investment Board Nepal, who talked about positive and liberal attitude and how it leads towards the success in the business world. &ldquo;If you believe that you are doing the right thing, continue focusing on the same. If you get up in the morning and are exited for your job, then stick to your job,&rdquo; he said.</p>

<p>&ldquo;Entrepreneur is the most used word in this era and we are in the third era of entrepreneurship which is its digital era,&rdquo; mentioned Pacapol Anurit, Dean of International College of Siam University, Thailand.</p>

<p>The symposium was divided into three sessions where topics like Marketing, Tourism, Banking and Nepal&rsquo;s future in marketing were discussed.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3321',
			'image' => '20160508124651_20160507052213__DSC8862 kcm.jpg',
			'article_date' => '2016-05-08 00:00:00',
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		'Article' => array(
			'id' => '3484',
			'article_category_id' => '1',
			'title' => 'Sindhu Development and United Finance to Issue Right Shares',
			'sub_title' => '',
			'summary' => 'May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.',
			'content' => '<p style="text-align: justify;">May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.</p>

<p style="text-align: justify;">Founded on 2010, Sidhu Development Bank will have Rs 2.4 million in paid-up capital after the right shares issuance. According to Nepal Rastra Bank, the bank required to increase its paid up capital up to Rs 500 million. ICRA explained that the bank&rsquo;s bad debt has not increased even after the devastating earthquake and border blockade which might be, due to the concession provided by the regulatory body. Meanwhile, immature loan of the bank has increased to 19 percent from 11 percent. The company has mostly low cost deposit, at the same time; capital fund expenditure of the company is also below from overall sector. ICRA explained that profit rate; net worth per share and asset return of the bank is at average. Likewise, net interest margin of the bank is satisfactory.</p>

<p style="text-align: justify;">Similarly, founded on 1996, United Finance will have Rs 580 million in paid-up capital after the issuance of right shares. The finance will have to increase its paid-up capital to Rs 800 million, as per NRB directive. ICRA has mentioned that weak deposit profile (21 percent vs.48percent for industry) as a constraint of the company. &nbsp;ICRA also revealed that high deposit concentration (31 percent among top 20 depositors), high product concentration and lack of diversity in earnings of the finance as its negative points. Although the company&rsquo;s bad debt has increased to 1.23 percent currently, it is below than the overall industry. ICRA has disclosed that the annual overall growth of loan of the company&nbsp; is at average (annual 10 percent&nbsp; during the last four years).</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3319',
			'image' => null,
			'article_date' => '2016-05-08 00:00:00',
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		'Article' => array(
			'id' => '3483',
			'article_category_id' => '1',
			'title' => 'Global IME Starts Remit Service from Saudi Arabia',
			'sub_title' => '',
			'summary' => ' May 8: Global IME has started remittance service from Saudi Arabia. “With the start of this service, Nepalis in Saudi Arab can send money from 50 agents of AlAhli Bank’s Quick Pay service,’ informs the bank in a press statement.  According to the bank, the payments of money sent from Saudi under this service can be easily taken from all the branches of Global IME bank across the country and agents of the remit. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.',
			'content' => '<p>May 8: Global IME has started remittance service from Saudi Arabia. &ldquo;With the start of this service, Nepalis living in Saudi Arabia can send money from 50 agents of AlAhli Bank&rsquo;s Quick Pay service,&rsquo; informs the bank in a press statement.&nbsp; According to the bank, the payments sent from Saudi Arabia under this service can be easily taken from all branches of Global IME Bank and remit service agents across Nepal. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3318',
			'image' => '20160508105804_global.JPG',
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	(int) 5 => array(
		'Article' => array(
			'id' => '3482',
			'article_category_id' => '1',
			'title' => 'Digitisation Mandatory from June',
			'sub_title' => '',
			'summary' => 'The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.',
			'content' => '<p style="text-align:justify">May6: The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.</p>

<p style="text-align:justify">The government three years ago had issued a notice to convert the cable TV signals into digital by Baisakh 15, 2073. &ldquo;During this period, some cable TV service providers have submitted their work plan,&rdquo; said Anup Nepal, Joint Secretary of Frequency Management Branch of Ministry of Information and Communication. &ldquo;We have not received work plans of some service providers.&rdquo; According to him, the delay might have been caused by the slow delivery of work plans as service providers from of outside the valley need to send their documents through the post office.</p>

<p style="text-align:justify">Some cable TV operators have mentioned the ministry that the lack of infrastructures in the main metropolitan and sub-metropolitan areas as the major reason for the delay in digitisation process. The ministry, meanwhile, has also agreed on the issue and has extended the deadline of digitization by June.</p>

<p style="text-align:justify">Nevertheless, the signals of all cable TVs need to be digitized by June. As per the new decision, licenses of the companies who have presented their work plans will be renewed as digital licenses. Joint Secretary Nepal informed that licenses of the companies who do not submit their work plans in the extended period will have their licenses cancelled.</p>

<p style="text-align:justify"><strong>What is digitisation?</strong></p>

<p style="text-align:justify">According to Joint Secretary Nepal, the cable TV business will become more transparent if the signals are converted into digital. According to him, adoption of new technology will helps in inspection while also aids in the increment of national revenue. In analog technology, users can divide a single cable TV line for many television sets whereas, in digital technology, a setup-box needs to be installed for each television. In this technology user can not divide the line which helps in keeping the exact figures of users.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3317',
			'image' => '20160506043826_tv.jpg',
			'article_date' => '2016-05-06 00:00:00',
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			'id' => '3481',
			'article_category_id' => '1',
			'title' => ' New Outlet of Suzuki in Biratnagar',
			'sub_title' => '',
			'summary' => 'May 5 : Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. “We have opened this outlet with an aim to provide high standard motorbikes,” informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5.  Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. “Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.”',
			'content' => '<p style="text-align:justify">May 5&nbsp;: Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. &ldquo;We have opened this outlet with an aim to provide high standard motorbikes,&rdquo; informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5. &nbsp;Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. &ldquo;Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.&rdquo;</p>

<p style="text-align:justify">&ldquo;We are selling motorcycles and scooters with price ranging from Rs 164900 to Rs 279900,&rdquo; informed the outlet operator, Suraj Dhimal. On the occasion of the opening, customers were also provided with various gift hampers. With the opening of the outlet, Dhimal Brothers and Auto Trade have also signed a new trade agreement with VG Automobiles, the authorised distributor of Suzuki two-wheelers in Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3316',
			'image' => '20160506033927_VG.jpg',
			'article_date' => '2016-05-06 00:00:00',
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		'Article' => array(
			'id' => '3479',
			'article_category_id' => '1',
			'title' => 'NCC Bank Provides Drinking Water to Marginalised Groups',
			'sub_title' => '',
			'summary' => 'May 6:  Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.',
			'content' => '<p style="text-align: justify;">May 6: &nbsp;Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.</p>

<p style="text-align: justify;">Laxmi Prapanna Niraula, Coordinator of the bank&#39;s management committee and Chintamani Siwakoti, Deputy Governor of Nepal Rastra Bank jointly inaugurated the construction of tube wells.&nbsp; According to the bank, around 323 households will directly benefit from the project.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3315',
			'image' => '20160506012258_ncc.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 8 => array(
		'Article' => array(
			'id' => '3478',
			'article_category_id' => '1',
			'title' => 'Swap Ratio of BOK and Lumbini Bank Decided',
			'sub_title' => '',
			'summary' => 'May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting.',
			'content' => '<p style="text-align: justify;"><span style="font-size:13pt">May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting. </span></p>

<p style="text-align: justify;"><span style="font-size:13pt">The share swap ratio of BOK and Lumbini Bank has been fixed at 100:82. The banks have fixed swap ratio after six months of merger agreement.</span></p>

<p style="text-align: justify;"><span style="font-size:13pt">After the merger, the bank will have 69 branches and 62 ATMs. At present, BOK has 51 branches and 57 ATMs while Lumbini Bank has 18 branches and 5 ATMs.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3314',
			'image' => '20160506012113_bok&LUMBINI.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 9 => array(
		'Article' => array(
			'id' => '3477',
			'article_category_id' => '1',
			'title' => 'NMB Invests in Hotel Marriott',
			'sub_title' => '',
			'summary' => 'May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.',
			'content' => '<p>May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.</p>

<p>Hotel Marriott will have 230 rooms along with facilities of swimming pool, casino, mini gulf, conference hall, banquet hall, health club and spa. The hotel that is also a chain of Marriott International, a leading hotel chain based in Maryland, USA, is expected to come into operation in 2018.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3313',
			'image' => '20160506123853_hotel.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '3476',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Kumari and YES Remit',
			'sub_title' => '',
			'summary' => 'May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.',
			'content' => '<p style="text-align:justify">May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3312',
			'image' => '20160506114146_yes.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '3475',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Starts Branchless Banking in Mahottari',
			'sub_title' => '',
			'summary' => 'May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.',
			'content' => '<p>May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.</p>

<p>At present, the bank is providing modern banking services through 53 branches and 67 ATMs. It is a third branchless banking service opening of the bank. Previously, Sunrise Bank has started branchless banking services in Mangaltal of Kavre and Bahundangi of Jhapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3311',
			'image' => '20160506112148_sunrise.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '3474',
			'article_category_id' => '1',
			'title' => 'NCM Merchant Issue Manager of CEDB Hydro Fund',
			'sub_title' => '',
			'summary' => 'May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.  Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.',
			'content' => '<p style="text-align: justify;">May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.</p>

<p style="text-align: justify;">Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.</p>

<p style="text-align: justify;">CEDB hydro fund has been founded in 2009 by Clean Energy Development Bank in order to promote and develop Hydro Power Projects in Nepal. Presently, Radhi Hydropower Project (4.4MW), Sange Hydropower Project (183KW) and Khudi Hydropower Project (4MW) are operating under the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3310',
			'image' => '20160506110440_ncm.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 13 => array(
		'Article' => array(
			'id' => '3473',
			'article_category_id' => '1',
			'title' => 'Apex Short Film Festival 2016 begins',
			'sub_title' => '',
			'summary' => 'May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was ‘Freedom’.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. “Desire” bagged the first prize in the contest, “Two Souls” and “The Feels” were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.  According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.',
			'content' => '<p>May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was &lsquo;Freedom&rsquo;.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. &ldquo;Desire&rdquo; bagged the first prize in the contest, &ldquo;Two Souls&rdquo; and &ldquo;The Feels&rdquo; were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.</p>

<p>According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-05',
			'modified' => '2016-05-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3309',
			'image' => null,
			'article_date' => '2016-05-05 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3472',
			'article_category_id' => '1',
			'title' => 'SEBON’s New Directive on Right Share and Auction Bidding Sale',
			'sub_title' => '',
			'summary' => 'May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.  SEBON concluded that a day notice as per the current a',
			'content' => '<p style="text-align: justify;">May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.</p>

<p style="text-align: justify;">SEBON concluded that a day notice as per the current arrangement is not sufficient for flow of information during share issuance due to which shareholders miss out from applying for the shares. Therefore, SEBON has formulated new arrangement in order to make information system more effective for the benefits of shareholders. The board expects that the new arrangement will develop the share market, making it healthy, transparent and controlled. According to the new arrangement, while issuing the right shares, companies will have to publish notices in at least two national newspapers in the first week. Similarly, in the second week, share notification should be broadcasted in one national newspaper. Likewise, in the third and fourth week, at least two online newspapers and two FM stations should flow the information consecutively. &nbsp;</p>

<p style="text-align: justify;">Similarly, in the case of auction bidding sale of shares, companies need to broadcast the information in at least two online newspapers, seven days prior to opening of sales. Likewise, five days prior to the sales, information should be broadcasted from two major FM stations and three days before the sales, information should be broadcasted from two major national economic newspapers. Additionally, companies need to provide softcopy of the notice to the board two days before the issuance of the notice. SEBON believes that the kind of information broadcasting will reach investors to a greater extent.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3308',
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			'article_date' => '2016-05-05 00:00:00',
			'homepage' => false,
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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '3488',
			'article_category_id' => '1',
			'title' => 'Govt Plans Mandatory Listing of Real Sector in Stock Market',
			'sub_title' => '',
			'summary' => 'May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.  “Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,” says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).',
			'content' => '<p style="text-align: justify;">May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.&nbsp; &ldquo;Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,&rdquo; says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).</p>

<p style="text-align: justify;">Secretary Khanal made the comments in a discussion program organised by Securities Board of Nepal (SEBON) on Saturday. According to him, the plan is likely to include raising tax subsidies in the first phase and if it does not work then it will be made compulsory for the companies of certain sectors to be listed in the stock market. At present, there is a provision of 10 percent discount on institutional income tax if companies of particular sector enter the stock market.</p>

<p style="text-align: justify;">However, such provision has not been successful to lure real sector companies in the market. Meanwhile, MoF has also come up with a plan to provide tax subsidy for two years citing the ineffectiveness of the existing policy. &ldquo;We will provide such subsidy only after ensuring that it increases the total production of a company and shares of such company is easily traded,&rdquo; mentions Dr Bashudev Sharma, Deputy Secretary of the ministry. He presented tax related data of some countries and said that all transactions of Nepali stock market are not as unscientific as per international trends.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3323',
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			'article_date' => '2016-05-08 00:00:00',
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			'id' => '3487',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Receives AA- Credit Rating',
			'sub_title' => '',
			'summary' => 'May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.  According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.',
			'content' => '<p>May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.&nbsp; According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.</p>

<p>&nbsp;&ldquo;ICRA has assigned the rating taking into the account of the bank&rsquo;s good market position, healthy profitability, adequate capitalization, comfortable solvency profile, diversified earning profile and low cost of funds supported by healthy deposit profile and experienced management team,&rdquo; informs the bank in a press statement citing ICRA Nepal.</p>
',
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			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3322',
			'image' => '20160508021418_nabil.jpg',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '3486',
			'article_category_id' => '1',
			'title' => 'Nepal Management Symposium Concluded',
			'sub_title' => '',
			'summary' => 'May 8: “Nepal Management Symposium” organised by Kathmandu College of Management concluded its two day event on Saturday. The event was held with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issue. The Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.',
			'content' => '<p>May 8: Nepal Management Symposium organised by Kathmandu College of Management has concluded its two day event on Saturday. The event was organised with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issues. Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.</p>

<p>Around 300 students, businessmen and entrepreneurs from various sector participated in the symposium. 19 national and international academic experts in the related field were the speakers of the event.</p>

<p>The keynote speaker for the event was Radhesh Pant, CEO of Investment Board Nepal, who talked about positive and liberal attitude and how it leads towards the success in the business world. &ldquo;If you believe that you are doing the right thing, continue focusing on the same. If you get up in the morning and are exited for your job, then stick to your job,&rdquo; he said.</p>

<p>&ldquo;Entrepreneur is the most used word in this era and we are in the third era of entrepreneurship which is its digital era,&rdquo; mentioned Pacapol Anurit, Dean of International College of Siam University, Thailand.</p>

<p>The symposium was divided into three sessions where topics like Marketing, Tourism, Banking and Nepal&rsquo;s future in marketing were discussed.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3321',
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			'id' => '3484',
			'article_category_id' => '1',
			'title' => 'Sindhu Development and United Finance to Issue Right Shares',
			'sub_title' => '',
			'summary' => 'May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.',
			'content' => '<p style="text-align: justify;">May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.</p>

<p style="text-align: justify;">Founded on 2010, Sidhu Development Bank will have Rs 2.4 million in paid-up capital after the right shares issuance. According to Nepal Rastra Bank, the bank required to increase its paid up capital up to Rs 500 million. ICRA explained that the bank&rsquo;s bad debt has not increased even after the devastating earthquake and border blockade which might be, due to the concession provided by the regulatory body. Meanwhile, immature loan of the bank has increased to 19 percent from 11 percent. The company has mostly low cost deposit, at the same time; capital fund expenditure of the company is also below from overall sector. ICRA explained that profit rate; net worth per share and asset return of the bank is at average. Likewise, net interest margin of the bank is satisfactory.</p>

<p style="text-align: justify;">Similarly, founded on 1996, United Finance will have Rs 580 million in paid-up capital after the issuance of right shares. The finance will have to increase its paid-up capital to Rs 800 million, as per NRB directive. ICRA has mentioned that weak deposit profile (21 percent vs.48percent for industry) as a constraint of the company. &nbsp;ICRA also revealed that high deposit concentration (31 percent among top 20 depositors), high product concentration and lack of diversity in earnings of the finance as its negative points. Although the company&rsquo;s bad debt has increased to 1.23 percent currently, it is below than the overall industry. ICRA has disclosed that the annual overall growth of loan of the company&nbsp; is at average (annual 10 percent&nbsp; during the last four years).</p>
',
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			'sortorder' => '3319',
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		'Article' => array(
			'id' => '3483',
			'article_category_id' => '1',
			'title' => 'Global IME Starts Remit Service from Saudi Arabia',
			'sub_title' => '',
			'summary' => ' May 8: Global IME has started remittance service from Saudi Arabia. “With the start of this service, Nepalis in Saudi Arab can send money from 50 agents of AlAhli Bank’s Quick Pay service,’ informs the bank in a press statement.  According to the bank, the payments of money sent from Saudi under this service can be easily taken from all the branches of Global IME bank across the country and agents of the remit. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.',
			'content' => '<p>May 8: Global IME has started remittance service from Saudi Arabia. &ldquo;With the start of this service, Nepalis living in Saudi Arabia can send money from 50 agents of AlAhli Bank&rsquo;s Quick Pay service,&rsquo; informs the bank in a press statement.&nbsp; According to the bank, the payments sent from Saudi Arabia under this service can be easily taken from all branches of Global IME Bank and remit service agents across Nepal. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3318',
			'image' => '20160508105804_global.JPG',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '3482',
			'article_category_id' => '1',
			'title' => 'Digitisation Mandatory from June',
			'sub_title' => '',
			'summary' => 'The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.',
			'content' => '<p style="text-align:justify">May6: The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.</p>

<p style="text-align:justify">The government three years ago had issued a notice to convert the cable TV signals into digital by Baisakh 15, 2073. &ldquo;During this period, some cable TV service providers have submitted their work plan,&rdquo; said Anup Nepal, Joint Secretary of Frequency Management Branch of Ministry of Information and Communication. &ldquo;We have not received work plans of some service providers.&rdquo; According to him, the delay might have been caused by the slow delivery of work plans as service providers from of outside the valley need to send their documents through the post office.</p>

<p style="text-align:justify">Some cable TV operators have mentioned the ministry that the lack of infrastructures in the main metropolitan and sub-metropolitan areas as the major reason for the delay in digitisation process. The ministry, meanwhile, has also agreed on the issue and has extended the deadline of digitization by June.</p>

<p style="text-align:justify">Nevertheless, the signals of all cable TVs need to be digitized by June. As per the new decision, licenses of the companies who have presented their work plans will be renewed as digital licenses. Joint Secretary Nepal informed that licenses of the companies who do not submit their work plans in the extended period will have their licenses cancelled.</p>

<p style="text-align:justify"><strong>What is digitisation?</strong></p>

<p style="text-align:justify">According to Joint Secretary Nepal, the cable TV business will become more transparent if the signals are converted into digital. According to him, adoption of new technology will helps in inspection while also aids in the increment of national revenue. In analog technology, users can divide a single cable TV line for many television sets whereas, in digital technology, a setup-box needs to be installed for each television. In this technology user can not divide the line which helps in keeping the exact figures of users.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3317',
			'image' => '20160506043826_tv.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '3481',
			'article_category_id' => '1',
			'title' => ' New Outlet of Suzuki in Biratnagar',
			'sub_title' => '',
			'summary' => 'May 5 : Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. “We have opened this outlet with an aim to provide high standard motorbikes,” informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5.  Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. “Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.”',
			'content' => '<p style="text-align:justify">May 5&nbsp;: Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. &ldquo;We have opened this outlet with an aim to provide high standard motorbikes,&rdquo; informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5. &nbsp;Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. &ldquo;Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.&rdquo;</p>

<p style="text-align:justify">&ldquo;We are selling motorcycles and scooters with price ranging from Rs 164900 to Rs 279900,&rdquo; informed the outlet operator, Suraj Dhimal. On the occasion of the opening, customers were also provided with various gift hampers. With the opening of the outlet, Dhimal Brothers and Auto Trade have also signed a new trade agreement with VG Automobiles, the authorised distributor of Suzuki two-wheelers in Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3316',
			'image' => '20160506033927_VG.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '3479',
			'article_category_id' => '1',
			'title' => 'NCC Bank Provides Drinking Water to Marginalised Groups',
			'sub_title' => '',
			'summary' => 'May 6:  Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.',
			'content' => '<p style="text-align: justify;">May 6: &nbsp;Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.</p>

<p style="text-align: justify;">Laxmi Prapanna Niraula, Coordinator of the bank&#39;s management committee and Chintamani Siwakoti, Deputy Governor of Nepal Rastra Bank jointly inaugurated the construction of tube wells.&nbsp; According to the bank, around 323 households will directly benefit from the project.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3315',
			'image' => '20160506012258_ncc.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '3478',
			'article_category_id' => '1',
			'title' => 'Swap Ratio of BOK and Lumbini Bank Decided',
			'sub_title' => '',
			'summary' => 'May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting.',
			'content' => '<p style="text-align: justify;"><span style="font-size:13pt">May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting. </span></p>

<p style="text-align: justify;"><span style="font-size:13pt">The share swap ratio of BOK and Lumbini Bank has been fixed at 100:82. The banks have fixed swap ratio after six months of merger agreement.</span></p>

<p style="text-align: justify;"><span style="font-size:13pt">After the merger, the bank will have 69 branches and 62 ATMs. At present, BOK has 51 branches and 57 ATMs while Lumbini Bank has 18 branches and 5 ATMs.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3314',
			'image' => '20160506012113_bok&LUMBINI.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '3477',
			'article_category_id' => '1',
			'title' => 'NMB Invests in Hotel Marriott',
			'sub_title' => '',
			'summary' => 'May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.',
			'content' => '<p>May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.</p>

<p>Hotel Marriott will have 230 rooms along with facilities of swimming pool, casino, mini gulf, conference hall, banquet hall, health club and spa. The hotel that is also a chain of Marriott International, a leading hotel chain based in Maryland, USA, is expected to come into operation in 2018.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3313',
			'image' => '20160506123853_hotel.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '3476',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Kumari and YES Remit',
			'sub_title' => '',
			'summary' => 'May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.',
			'content' => '<p style="text-align:justify">May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3312',
			'image' => '20160506114146_yes.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '3475',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Starts Branchless Banking in Mahottari',
			'sub_title' => '',
			'summary' => 'May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.',
			'content' => '<p>May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.</p>

<p>At present, the bank is providing modern banking services through 53 branches and 67 ATMs. It is a third branchless banking service opening of the bank. Previously, Sunrise Bank has started branchless banking services in Mangaltal of Kavre and Bahundangi of Jhapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3311',
			'image' => '20160506112148_sunrise.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '3474',
			'article_category_id' => '1',
			'title' => 'NCM Merchant Issue Manager of CEDB Hydro Fund',
			'sub_title' => '',
			'summary' => 'May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.  Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.',
			'content' => '<p style="text-align: justify;">May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.</p>

<p style="text-align: justify;">Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.</p>

<p style="text-align: justify;">CEDB hydro fund has been founded in 2009 by Clean Energy Development Bank in order to promote and develop Hydro Power Projects in Nepal. Presently, Radhi Hydropower Project (4.4MW), Sange Hydropower Project (183KW) and Khudi Hydropower Project (4MW) are operating under the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3310',
			'image' => '20160506110440_ncm.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 13 => array(
		'Article' => array(
			'id' => '3473',
			'article_category_id' => '1',
			'title' => 'Apex Short Film Festival 2016 begins',
			'sub_title' => '',
			'summary' => 'May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was ‘Freedom’.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. “Desire” bagged the first prize in the contest, “Two Souls” and “The Feels” were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.  According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.',
			'content' => '<p>May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was &lsquo;Freedom&rsquo;.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. &ldquo;Desire&rdquo; bagged the first prize in the contest, &ldquo;Two Souls&rdquo; and &ldquo;The Feels&rdquo; were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.</p>

<p>According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-05',
			'modified' => '2016-05-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3309',
			'image' => null,
			'article_date' => '2016-05-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '3472',
			'article_category_id' => '1',
			'title' => 'SEBON’s New Directive on Right Share and Auction Bidding Sale',
			'sub_title' => '',
			'summary' => 'May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.  SEBON concluded that a day notice as per the current a',
			'content' => '<p style="text-align: justify;">May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.</p>

<p style="text-align: justify;">SEBON concluded that a day notice as per the current arrangement is not sufficient for flow of information during share issuance due to which shareholders miss out from applying for the shares. Therefore, SEBON has formulated new arrangement in order to make information system more effective for the benefits of shareholders. The board expects that the new arrangement will develop the share market, making it healthy, transparent and controlled. According to the new arrangement, while issuing the right shares, companies will have to publish notices in at least two national newspapers in the first week. Similarly, in the second week, share notification should be broadcasted in one national newspaper. Likewise, in the third and fourth week, at least two online newspapers and two FM stations should flow the information consecutively. &nbsp;</p>

<p style="text-align: justify;">Similarly, in the case of auction bidding sale of shares, companies need to broadcast the information in at least two online newspapers, seven days prior to opening of sales. Likewise, five days prior to the sales, information should be broadcasted from two major FM stations and three days before the sales, information should be broadcasted from two major national economic newspapers. Additionally, companies need to provide softcopy of the notice to the board two days before the issuance of the notice. SEBON believes that the kind of information broadcasting will reach investors to a greater extent.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3308',
			'image' => '20160505120425_sebn.JPG',
			'article_date' => '2016-05-05 00:00:00',
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Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '3488',
			'article_category_id' => '1',
			'title' => 'Govt Plans Mandatory Listing of Real Sector in Stock Market',
			'sub_title' => '',
			'summary' => 'May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.  “Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,” says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).',
			'content' => '<p style="text-align: justify;">May 8: The Finance Ministry is preparing for mandatory listing of real sector companies in the stock market.&nbsp; &ldquo;Despite the tax discounts, there is no increment in participation of real sector companies. The increase in tax discount rates cannot attract such companies,&rdquo; says Rajan Khanal Revenue Secretary of Ministry of Finance (MoF).</p>

<p style="text-align: justify;">Secretary Khanal made the comments in a discussion program organised by Securities Board of Nepal (SEBON) on Saturday. According to him, the plan is likely to include raising tax subsidies in the first phase and if it does not work then it will be made compulsory for the companies of certain sectors to be listed in the stock market. At present, there is a provision of 10 percent discount on institutional income tax if companies of particular sector enter the stock market.</p>

<p style="text-align: justify;">However, such provision has not been successful to lure real sector companies in the market. Meanwhile, MoF has also come up with a plan to provide tax subsidy for two years citing the ineffectiveness of the existing policy. &ldquo;We will provide such subsidy only after ensuring that it increases the total production of a company and shares of such company is easily traded,&rdquo; mentions Dr Bashudev Sharma, Deputy Secretary of the ministry. He presented tax related data of some countries and said that all transactions of Nepali stock market are not as unscientific as per international trends.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3323',
			'image' => null,
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
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	),
	(int) 1 => array(
		'Article' => array(
			'id' => '3487',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Receives AA- Credit Rating',
			'sub_title' => '',
			'summary' => 'May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.  According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.',
			'content' => '<p>May 8: ICRA Nepal Limited has assigned AA- credit rating for Nabil Bank.&nbsp; According to the credit rating agency, the entities with AA- rating are considered as high-credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk.</p>

<p>&nbsp;&ldquo;ICRA has assigned the rating taking into the account of the bank&rsquo;s good market position, healthy profitability, adequate capitalization, comfortable solvency profile, diversified earning profile and low cost of funds supported by healthy deposit profile and experienced management team,&rdquo; informs the bank in a press statement citing ICRA Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3322',
			'image' => '20160508021418_nabil.jpg',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '3486',
			'article_category_id' => '1',
			'title' => 'Nepal Management Symposium Concluded',
			'sub_title' => '',
			'summary' => 'May 8: “Nepal Management Symposium” organised by Kathmandu College of Management concluded its two day event on Saturday. The event was held with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issue. The Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.',
			'content' => '<p>May 8: Nepal Management Symposium organised by Kathmandu College of Management has concluded its two day event on Saturday. The event was organised with the concept to bind management professionals, enthusiasts and aspirants passionate about contemporary management issues. Deputy Prime Minister and Minister of Foreign Affairs, Kamal Thapa inaugurated the event.</p>

<p>Around 300 students, businessmen and entrepreneurs from various sector participated in the symposium. 19 national and international academic experts in the related field were the speakers of the event.</p>

<p>The keynote speaker for the event was Radhesh Pant, CEO of Investment Board Nepal, who talked about positive and liberal attitude and how it leads towards the success in the business world. &ldquo;If you believe that you are doing the right thing, continue focusing on the same. If you get up in the morning and are exited for your job, then stick to your job,&rdquo; he said.</p>

<p>&ldquo;Entrepreneur is the most used word in this era and we are in the third era of entrepreneurship which is its digital era,&rdquo; mentioned Pacapol Anurit, Dean of International College of Siam University, Thailand.</p>

<p>The symposium was divided into three sessions where topics like Marketing, Tourism, Banking and Nepal&rsquo;s future in marketing were discussed.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3321',
			'image' => '20160508124651_20160507052213__DSC8862 kcm.jpg',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '3484',
			'article_category_id' => '1',
			'title' => 'Sindhu Development and United Finance to Issue Right Shares',
			'sub_title' => '',
			'summary' => 'May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.',
			'content' => '<p style="text-align: justify;">May 8: Sindhu Development Bank and United Finance are issuing 1:1 and 4:1 right shares respectively. ICRA Nepal has assigned grade 4 rating for the shares of both companies. The rating indicates of below average fundamentals to the proposed rights shares issues of the companies. ICRA Nepal assigns grading on the basis of overall financial position and possible future returns of the companies.</p>

<p style="text-align: justify;">Founded on 2010, Sidhu Development Bank will have Rs 2.4 million in paid-up capital after the right shares issuance. According to Nepal Rastra Bank, the bank required to increase its paid up capital up to Rs 500 million. ICRA explained that the bank&rsquo;s bad debt has not increased even after the devastating earthquake and border blockade which might be, due to the concession provided by the regulatory body. Meanwhile, immature loan of the bank has increased to 19 percent from 11 percent. The company has mostly low cost deposit, at the same time; capital fund expenditure of the company is also below from overall sector. ICRA explained that profit rate; net worth per share and asset return of the bank is at average. Likewise, net interest margin of the bank is satisfactory.</p>

<p style="text-align: justify;">Similarly, founded on 1996, United Finance will have Rs 580 million in paid-up capital after the issuance of right shares. The finance will have to increase its paid-up capital to Rs 800 million, as per NRB directive. ICRA has mentioned that weak deposit profile (21 percent vs.48percent for industry) as a constraint of the company. &nbsp;ICRA also revealed that high deposit concentration (31 percent among top 20 depositors), high product concentration and lack of diversity in earnings of the finance as its negative points. Although the company&rsquo;s bad debt has increased to 1.23 percent currently, it is below than the overall industry. ICRA has disclosed that the annual overall growth of loan of the company&nbsp; is at average (annual 10 percent&nbsp; during the last four years).</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3319',
			'image' => null,
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '3483',
			'article_category_id' => '1',
			'title' => 'Global IME Starts Remit Service from Saudi Arabia',
			'sub_title' => '',
			'summary' => ' May 8: Global IME has started remittance service from Saudi Arabia. “With the start of this service, Nepalis in Saudi Arab can send money from 50 agents of AlAhli Bank’s Quick Pay service,’ informs the bank in a press statement.  According to the bank, the payments of money sent from Saudi under this service can be easily taken from all the branches of Global IME bank across the country and agents of the remit. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.',
			'content' => '<p>May 8: Global IME has started remittance service from Saudi Arabia. &ldquo;With the start of this service, Nepalis living in Saudi Arabia can send money from 50 agents of AlAhli Bank&rsquo;s Quick Pay service,&rsquo; informs the bank in a press statement.&nbsp; According to the bank, the payments sent from Saudi Arabia under this service can be easily taken from all branches of Global IME Bank and remit service agents across Nepal. Currently, the bank is providing remittance service from Bahrain, UAE, India, Australia, Quarter, Japan, Malaysia and South Korea.</p>
',
			'published' => true,
			'created' => '2016-05-08',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3318',
			'image' => '20160508105804_global.JPG',
			'article_date' => '2016-05-08 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '3482',
			'article_category_id' => '1',
			'title' => 'Digitisation Mandatory from June',
			'sub_title' => '',
			'summary' => 'The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.',
			'content' => '<p style="text-align:justify">May6: The government has extended the deadline for all cable TV service prodiders to convert their signals into digital. As per the decision, service providers for Kathmandu metropolitan area and all sub-metropolitans across the country are required to digitise their signals by June.</p>

<p style="text-align:justify">The government three years ago had issued a notice to convert the cable TV signals into digital by Baisakh 15, 2073. &ldquo;During this period, some cable TV service providers have submitted their work plan,&rdquo; said Anup Nepal, Joint Secretary of Frequency Management Branch of Ministry of Information and Communication. &ldquo;We have not received work plans of some service providers.&rdquo; According to him, the delay might have been caused by the slow delivery of work plans as service providers from of outside the valley need to send their documents through the post office.</p>

<p style="text-align:justify">Some cable TV operators have mentioned the ministry that the lack of infrastructures in the main metropolitan and sub-metropolitan areas as the major reason for the delay in digitisation process. The ministry, meanwhile, has also agreed on the issue and has extended the deadline of digitization by June.</p>

<p style="text-align:justify">Nevertheless, the signals of all cable TVs need to be digitized by June. As per the new decision, licenses of the companies who have presented their work plans will be renewed as digital licenses. Joint Secretary Nepal informed that licenses of the companies who do not submit their work plans in the extended period will have their licenses cancelled.</p>

<p style="text-align:justify"><strong>What is digitisation?</strong></p>

<p style="text-align:justify">According to Joint Secretary Nepal, the cable TV business will become more transparent if the signals are converted into digital. According to him, adoption of new technology will helps in inspection while also aids in the increment of national revenue. In analog technology, users can divide a single cable TV line for many television sets whereas, in digital technology, a setup-box needs to be installed for each television. In this technology user can not divide the line which helps in keeping the exact figures of users.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3317',
			'image' => '20160506043826_tv.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '15'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '3481',
			'article_category_id' => '1',
			'title' => ' New Outlet of Suzuki in Biratnagar',
			'sub_title' => '',
			'summary' => 'May 5 : Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. “We have opened this outlet with an aim to provide high standard motorbikes,” informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5.  Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. “Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.”',
			'content' => '<p style="text-align:justify">May 5&nbsp;: Dhimal Brothers and Auto Trade has opened a new showroom of Suzuki Motors in Biratnagar. &ldquo;We have opened this outlet with an aim to provide high standard motorbikes,&rdquo; informs the company in a press statement. The showroom was jointly inaugurated by Nawaraj Chapaguin, President of Federation of Chambers of Commerce, Morang and Adhir Kumar Shrestha, General Manager of VG Automobiles on May 5. &nbsp;Speaking on the occasion, General Manager Shrestha highlighted the qualities of Suzuki two-wheelers. &ldquo;Our sales products will have the high quality standard, he said, adding that they will provide the quality after sales services.&rdquo;</p>

<p style="text-align:justify">&ldquo;We are selling motorcycles and scooters with price ranging from Rs 164900 to Rs 279900,&rdquo; informed the outlet operator, Suraj Dhimal. On the occasion of the opening, customers were also provided with various gift hampers. With the opening of the outlet, Dhimal Brothers and Auto Trade have also signed a new trade agreement with VG Automobiles, the authorised distributor of Suzuki two-wheelers in Nepal.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3316',
			'image' => '20160506033927_VG.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '15'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '3479',
			'article_category_id' => '1',
			'title' => 'NCC Bank Provides Drinking Water to Marginalised Groups',
			'sub_title' => '',
			'summary' => 'May 6:  Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.',
			'content' => '<p style="text-align: justify;">May 6: &nbsp;Nepal Credit and Commerce (NCC) Bank has installed 110 tube wells in Musahar and Guni areas of Dayaniya VDC of Morang. As a part of its CSR activity, the bank started the operation of drinking water project for the underprivileged groups.</p>

<p style="text-align: justify;">Laxmi Prapanna Niraula, Coordinator of the bank&#39;s management committee and Chintamani Siwakoti, Deputy Governor of Nepal Rastra Bank jointly inaugurated the construction of tube wells.&nbsp; According to the bank, around 323 households will directly benefit from the project.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3315',
			'image' => '20160506012258_ncc.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '3478',
			'article_category_id' => '1',
			'title' => 'Swap Ratio of BOK and Lumbini Bank Decided',
			'sub_title' => '',
			'summary' => 'May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting.',
			'content' => '<p style="text-align: justify;"><span style="font-size:13pt">May 6: The merger process between Bank of Kathmandu and Lumbini Bank is about to get concluded with the banks deciding swap ratio for merger after a long procedural meeting. </span></p>

<p style="text-align: justify;"><span style="font-size:13pt">The share swap ratio of BOK and Lumbini Bank has been fixed at 100:82. The banks have fixed swap ratio after six months of merger agreement.</span></p>

<p style="text-align: justify;"><span style="font-size:13pt">After the merger, the bank will have 69 branches and 62 ATMs. At present, BOK has 51 branches and 57 ATMs while Lumbini Bank has 18 branches and 5 ATMs.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3314',
			'image' => '20160506012113_bok&LUMBINI.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '3477',
			'article_category_id' => '1',
			'title' => 'NMB Invests in Hotel Marriott',
			'sub_title' => '',
			'summary' => 'May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.',
			'content' => '<p>May 6: NMB Bank has invested in Hotel Marriott, a five star deluxe hotel, under construction at Nagpokhari. Prabhu Bank and Nepal Bangladesh Bank have already invested in the venture. According to NMB Bank, out of Rs 4 billion of the total investment, the banks will invest Rs 3.20 billion.</p>

<p>Hotel Marriott will have 230 rooms along with facilities of swimming pool, casino, mini gulf, conference hall, banquet hall, health club and spa. The hotel that is also a chain of Marriott International, a leading hotel chain based in Maryland, USA, is expected to come into operation in 2018.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3313',
			'image' => '20160506123853_hotel.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '3476',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Kumari and YES Remit',
			'sub_title' => '',
			'summary' => 'May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.',
			'content' => '<p style="text-align:justify">May 6: Kumari Bank and YES Remit have signed remittance agreement on May 5. Rajiv Giri, Acting Chief Executive Officer of Kumari Bank and Munal Jung Karki, Chief Executive Officer of YES Remit signed the agreement on behalf of their respective companies. After the agreement, money send through Yes Remit from all around the world can be received from all the branches of Kumari Bank and its remit agents.</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3312',
			'image' => '20160506114146_yes.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '3475',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Starts Branchless Banking in Mahottari',
			'sub_title' => '',
			'summary' => 'May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.',
			'content' => '<p>May 6: Sunrise Bank has started operation of branchless banking services in Laxminiya-7, Mahottari. Mukunda Raj Mahato, Chief of Kanti Bazar National Campus, Rajendra Singh Kushwaha, Local Social Worker and Aasha Rana, Deputy General Manager of the bank inaugurated the banking service amid a program on Thursday. The bank informs that the service aims of providing banking services to local public. Local public can get facilities of saving and payment through the branchless banking services.</p>

<p>At present, the bank is providing modern banking services through 53 branches and 67 ATMs. It is a third branchless banking service opening of the bank. Previously, Sunrise Bank has started branchless banking services in Mangaltal of Kavre and Bahundangi of Jhapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3311',
			'image' => '20160506112148_sunrise.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '3474',
			'article_category_id' => '1',
			'title' => 'NCM Merchant Issue Manager of CEDB Hydro Fund',
			'sub_title' => '',
			'summary' => 'May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.  Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.',
			'content' => '<p style="text-align: justify;">May 6: CEDB hydro fund is issuing 1,761,000 units of general shares at Rs 100 per unit worth Rs 176.1 million. The fund has appointed NCM Merchant Banking as its Issue Manager.</p>

<p style="text-align: justify;">Binay Kumar Bhandari, CEO of CEDB and Bijay Lal Shrestha, Operational manager of NCM Merchant signed the agreement paper amid a program organised on Thursday.</p>

<p style="text-align: justify;">CEDB hydro fund has been founded in 2009 by Clean Energy Development Bank in order to promote and develop Hydro Power Projects in Nepal. Presently, Radhi Hydropower Project (4.4MW), Sange Hydropower Project (183KW) and Khudi Hydropower Project (4MW) are operating under the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-05-06',
			'modified' => '2016-05-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3310',
			'image' => '20160506110440_ncm.jpg',
			'article_date' => '2016-05-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '3473',
			'article_category_id' => '1',
			'title' => 'Apex Short Film Festival 2016 begins',
			'sub_title' => '',
			'summary' => 'May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was ‘Freedom’.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. “Desire” bagged the first prize in the contest, “Two Souls” and “The Feels” were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.  According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.',
			'content' => '<p>May 5: Red carpet launch of Apex Short Film Festival 2016 was held on May 2 at Apex College. The theme of the festival was &lsquo;Freedom&rsquo;.Out of 24 registered short films, selected 8 were screened in the premiere show. Top three movies were awarded after the screening. &ldquo;Desire&rdquo; bagged the first prize in the contest, &ldquo;Two Souls&rdquo; and &ldquo;The Feels&rdquo; were the first and second runners-up respectively. The winners were awarded with Samsung Galaxy smartphone, cash prize, trophy, and certificate.</p>

<p>According to the press statement, around 1000 Apexians are expected to participate in the event sponsored by Samsung Galaxy, Silhoutte Media, and QFX Cinemas.</p>

<p>&nbsp;</p>
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			'id' => '3472',
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			'title' => 'SEBON’s New Directive on Right Share and Auction Bidding Sale',
			'sub_title' => '',
			'summary' => 'May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.  SEBON concluded that a day notice as per the current a',
			'content' => '<p style="text-align: justify;">May 5: Securities Board of Nepal (SEBON) has issued a new directive regarding announcement of right share issuance and auction bidding of shares. SEBON releasing a circular on Tuesday, has directed companies to broadcast right share issuance notice in seven various medias while for auction bidding sale of shares, the number of medias should be six.</p>

<p style="text-align: justify;">SEBON concluded that a day notice as per the current arrangement is not sufficient for flow of information during share issuance due to which shareholders miss out from applying for the shares. Therefore, SEBON has formulated new arrangement in order to make information system more effective for the benefits of shareholders. The board expects that the new arrangement will develop the share market, making it healthy, transparent and controlled. According to the new arrangement, while issuing the right shares, companies will have to publish notices in at least two national newspapers in the first week. Similarly, in the second week, share notification should be broadcasted in one national newspaper. Likewise, in the third and fourth week, at least two online newspapers and two FM stations should flow the information consecutively. &nbsp;</p>

<p style="text-align: justify;">Similarly, in the case of auction bidding sale of shares, companies need to broadcast the information in at least two online newspapers, seven days prior to opening of sales. Likewise, five days prior to the sales, information should be broadcasted from two major FM stations and three days before the sales, information should be broadcasted from two major national economic newspapers. Additionally, companies need to provide softcopy of the notice to the board two days before the issuance of the notice. SEBON believes that the kind of information broadcasting will reach investors to a greater extent.</p>

<p style="text-align: justify;">&nbsp;</p>
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