May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from…
May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from…
May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable…
May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth…
May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi. “With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh…
May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa…
May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit…
May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up…
May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5th annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on…
May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday. In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the…
May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post. Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last…
May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel…
Garima Bikash Bank opens branch at…
May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement. Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight…
May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8th AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday. NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its…
May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry. According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3471', 'article_category_id' => '1', 'title' => 'Remittance Agreement between Everest Bank and Xoom Corporation', 'sub_title' => '', 'summary' => 'May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.', 'content' => '<p style="text-align: justify;">May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.</p> <p style="text-align: justify;"> “Nepal receives a significant sum of remittances in proportion to the country’s Gross Domestic Product. The presence of Xoom will further contribute to the easy, secure and convenient transfer of remittances into the country,” said A. K Ahluwalia, Chief Executive Officer of Everest Bank in the press statement. It has been informed that customers can transfer up to $1,000 for a flat fee of $4.99 through Xoom corporation. Similarly, for transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;">Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer.</p> ', 'published' => true, 'created' => '2016-05-05', 'modified' => '2016-05-05', 'keywords' => '', 'description' => '', 'sortorder' => '3307', 'image' => '20160505105915_Everest bank.jpg', 'article_date' => '2016-05-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3470', 'article_category_id' => '1', 'title' => 'Economic Growth at 14-Year Low', 'sub_title' => '', 'summary' => 'May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.', 'content' => '<p style="text-align:justify">May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.</p> <p style="text-align:justify">The Bureau made the depressed growth projection due to the last year’s devastating earthquake, six months long Tarai unrest and decrease in production of rice, wheat and barley due to unfavourable weather. Earlier, the government had estimated economic growth of 6 percent in the budget presentation of the current FY. Meanwhile the Finance Ministry, in its White Paper forecasted the growth rate at 2 percent while the strikes in Terai and the Indian blockade were at full swing. CBS has presented the projection based on various indicators including consumption, savings and investments.</p> <p style="text-align:justify">The bureau has estimated 32.28 percent contribution from primary sector that includes agriculture and forest, fishery and mining and quarrying to the country’s Gross Domestic Product (GDP). Although the contribution of agriculture and forestry is estimated to be 31.19 percent, CBS has estimated its annual growth rate at 1.14 percent. Similarly, the fishery sector is expected to grow by 11.76 percent annually while its contribution to GDP has been logged at o.5 percent. Meanwhile, CBD has estimated increase in annual growth rates of transportation, communication and storage, financial intermediation, real estate and commercial services along with education and health sector.</p> <p style="text-align:justify">Similarly, the annual growth rate of mining and quarrying and industries in GDP is forecasted to decrease by 6.54 percent and 9.86 percent respectively. Likewise, the annual growth of electricity, cooking gas and water, construction sector, wholesale and retail, hotel and restaurants has decreased as well. Meanwhile, the contribution of secondary sectors such as construction, industries and electricity, cooking gas and water has been projected to be 13.43 percent. At the same time, the bureau has estimated 59.29 percent contribution of the third sector comprising service and retail business, hotel and restaurant, transportation, communication and storage and commercial services.</p> <p style="text-align:justify">Similarly, the bureau informed that the revised the economic growth for FY 2014/15 at 2.32 percent.</p> <p style="text-align:justify"><strong>Per Capita Income of Nepali Rs 80,900</strong></p> <p style="text-align:justify">The per capita income of Nepali has increased to Rs 80,921 from last year’s 77,079. The per capita income has increased by Rs 3,842 in current FY in compare to last FY. In US Dollar terms, per capita income has declined by USD 9 to USD 766. Meanwhile, it has revised the per capita income AT 775 USD for the last FY.</p> <p style="text-align:justify"><strong>Size of GDP Rs 2.24 trillion</strong></p> <p style="text-align:justify">CBS has predicted the size of the country’s GDP at Rs 2.24 trillion in current FY. The bureau has revised the size at Rs 2.12 trillion during the last FY. “Nepali economy has been hit hard by the last year’s devastating earthquake followed by border blockade. Therefore, the size of the economy structure will not significantly change in the current FY,” says Suman Aryal Director General of CBS.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3306', 'image' => '20160504034922_annual growth.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3469', 'article_category_id' => '1', 'title' => ' 6 Sectors to Face Negative Growth Rate in Last 7 Years', 'sub_title' => '', 'summary' => 'May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.', 'content' => '<p>May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.</p> <p>The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate</p> <p> Similarly, as per the National Account Estimate Report published on Tuesday the growth rate of other nine sectors are estimated to be positive. CBS has categories total of 15 sectors as economic activities sectors.</p> <p> According to CBS, the devastating earthquake of last year, political instability after declaration of constitution and Indian blockade has simultaneously lead to negative growth rate.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3305', 'image' => '20160504024759_DATA.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3468', 'article_category_id' => '1', 'title' => 'Hero’s Mileage Test in Dhangadi', 'sub_title' => '', 'summary' => 'May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi. “With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.', 'content' => '<p style="text-align: justify;">May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi.</p> <p style="text-align: justify;">“With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.</p> <p style="text-align: justify;">Suruchi Jyoti, Vice Chairman of Nepal General Marketing and Sundara Rajan , Service Asia Head of Hero Motors were present in the event. Sixty hero motor customers participated in the test drive event.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3304', 'image' => '20160504015712_hero.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3467', 'article_category_id' => '1', 'title' => 'Establishment of Industries at Bhairahawa SEZ from Mid-July', 'sub_title' => '', 'summary' => 'May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.', 'content' => '<p style="text-align: justify;">May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.</p> <p style="text-align: justify;">According to the Committee, the interested investors can submit their proposals with detail information of technical and financial capacity, experience of operating industry including others. “In the upcoming three months, the analysis of received proposals, preparation of list, providing license to establish industries including other works will be concluded,” informs Executive Director of the Committee, Chandi Prasad Bhatta.</p> <p style="text-align: justify;">Bhatta added, “Completing all process, the establishment of industries at Bhairahawa SEZ will get started from the mid-August.” According to the new system stated in work procedure, within a year of agreement, the industry should be established and should start the production.</p> <p style="text-align: justify;">Likewise the foreign investment will not be allowed on the industries producing food items and agro products, herbal products, leather goods, carpets and woolen goods, pashmina and silk, hand-made papers, handicrafts and ornaments, sportswear, jewelry and precious stone, plastic production, hosiery, assembled electronics and production of electrical parts, information technology and beverages. “We are planning to provide license to the foreign investors investing in other sectors besides above mentioned sectors,” Bhatta says, adding, “Investors from Taiwan, Korea and China are showing interest to invest in the industries in SEZ.”</p> <p style="text-align: justify;">Likewise, multinational company Coca-Cola has also expressed its willingness to come to SEZ. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3303', 'image' => '20160504015343_bhairaha sez.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3466', 'article_category_id' => '1', 'title' => 'Remit Agreement between Global IME and NCB', 'sub_title' => '', 'summary' => 'May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.', 'content' => '<p style="text-align: justify;">May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.</p> <p style="text-align: justify;">Global IME Bank has already established remittance business in UAE, Qatar, Bahrain, Malaysia, India, UK and South Korea. This is the first time Global IME Bank has collaborated with National Commercial Bank to boost remittance service from Saudi to Nepal. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3302', 'image' => '20160504013904_glo.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3465', 'article_category_id' => '1', 'title' => 'Proposal of Vibor-Society Merger Approved', 'sub_title' => '', 'summary' => 'May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.', 'content' => '<p style="text-align: justify;">May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3301', 'image' => '20160504013525_vibor.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3464', 'article_category_id' => '1', 'title' => 'Mega Bank Appoints Global IME Capital as Issue Manager', 'sub_title' => '', 'summary' => 'May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5th annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.', 'content' => '<p style="text-align: justify;">May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5<sup>th</sup> annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.</p> <p style="text-align: justify;">After issuance of 25 percent right shares, the total paid-up capital of Mega bank will reach Rs 4.05 billion. The bank has collected Rs 29 billion deposit and flowed Rs 26 billion loans, as per the press statement. At present, the bank is serving its customer through 44 branches, 45 ATMs, 53 advanced branchless banking services, 1400 Mega Remit network and 1 extension counters. </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3300', 'image' => '20160504105339_global.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3463', 'article_category_id' => '1', 'title' => 'Private Sector Urges Implementation of Trade Agreements with Neighbours', 'sub_title' => '', 'summary' => 'May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday. In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.', 'content' => '<p style="text-align: justify;">May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday.</p> <p style="text-align: justify;">In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.</p> <p style="text-align: justify;">Chamber also highlighted on the possibility of additional supply problems of fuel and other essential goods with the arrival of rainy season that is already reeling under stocks of problems. Representatives of the Chamber also requested Minister Chanda to solve the inconvenience faced by industrialists while importing goods and involve private sector in policy making.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3299', 'image' => '20160503043522_chiimek.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3462', 'article_category_id' => '1', 'title' => 'Thapa Elected Fewa Bikash Bank Chairman', 'sub_title' => '', 'summary' => 'May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post. Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.', 'content' => '<p style="text-align: justify;">May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post.</p> <p style="text-align: justify;">Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.</p> <p style="text-align: justify;">“The paid-up capital of the bank is Rs 990.50 million,” informed the bank’s CEO Resham Bahadur Thapa. Likewise, the total deposit of the bank is Rs 10.63 billion while the loan stands at Rs 9.33 billion. Serving more than 115,000 customers, the bank has 27 branches. “We are successful in providing fast and convenient services to our customers,” said CEO Thapa, adding, “Our customers are satisfied with the services.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3298', 'image' => '20160503043423_fewa1.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3461', 'article_category_id' => '1', 'title' => '“Nepal Management Symposium” From Friday', 'sub_title' => '', 'summary' => 'May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.', 'content' => '<p style="text-align: justify;">May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.</p> <p style="text-align: justify;">“This symposium is helpful for entrepreneurs, specialist, managers, students and others of management sector to aware them about related subject and its weakness,” says company in a press release adding, “The discussions and results of this event works as a common platform to create a leader for this sector.” The number of participants in the discussion program that takes place for two days is around 100, informed the company.</p> <p style="text-align: justify;">Representatives from different business schools and industries across Nepal will operate the two-day Symposium which includes local and regional management subjects. There will be representatives from related industries and students and participants can share their thoughts and experience with each other in a program that is divided into three sessions.</p> <p style="text-align: justify;">The event will be promoted through mass communication and social media, informed the college in a press release. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3297', 'image' => '20160503032849_syn.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3460', 'article_category_id' => '1', 'title' => 'Garima Bikash Bank opens branch at Burtibang', 'sub_title' => '', 'summary' => 'Garima Bikash Bank opens branch at Burtibang', 'content' => '<p>May 3: The Pokhara- based Garima Bikash Bank has brought its new branch into operation. The branch has been opened at Burtibang of Baglung. Shiva Nath Pandey, Executive Director and Head of Banks and Financial Institution Regulation Department of Nepal Rastra Bank formally inaugurated the new branch.</p> <p>Currently, the bank has paid up capital of Rs 850.32 million. With this the number of branches of Garima Bikas Bank has reached 25, according to the press statement by the bank. The bank till date has made loan investment of 7.20 billion and collected 7.85 billion in deposits.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3296', 'image' => '20160503013152_garima.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3459', 'article_category_id' => '1', 'title' => 'Briz Cement Willing to Assist in Reconstruction', 'sub_title' => '', 'summary' => 'May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement. Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.', 'content' => '<p style="text-align: justify;">May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement.</p> <p style="text-align: justify;">Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.</p> <p style="text-align: justify;">Similarly, the company has demanded the government to provide subsidies on cement production. According to the company, the government has been providing different customs subsidies on the import of Indian cements that are being used in big projects.</p> <p style="text-align: justify;">The company which is providing direct employment to 300 workers is producing more than 8,000 sacks of OPC cement and over 10,000 sacks of PPC cement daily.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3295', 'image' => '20160503012838_brij.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3458', 'article_category_id' => '1', 'title' => 'NT to Distribute 50% Dividend from Today', 'sub_title' => '', 'summary' => 'May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8th AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday. NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.', 'content' => '<p style="text-align: justify;">May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8<sup>th</sup> AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday.</p> <p style="text-align: justify;">NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.</p> <p style="text-align: justify;">Similarly, the AGM has endorsed the annual report and financial reports including profit and loss account of the company. Dinesh Kumar Thapaliya, Chairman of Board of Directors of the company and Secretary of Communication and information Ministry presented the 8<sup>th</sup> annual report of the company in the AGM. In the process, he informed that NT has prepared international standard financial report for the first time implementing Nepal Financial Reporting Standards and International Financial Reporting Standard from the current FY.</p> <p style="text-align: justify;">Thapaliya further informs “NT has expanded 3G service in rural areas as per the goal of prioritising trading and distribution of data services through expansion of optical fibre network. The company aims for availability of EVDO serviced based on IP-CDMA through the expansion of the network and continue the efforts of expanding attractive data service through WiMax service.” “NT has prepared for availability of 4G services as soon as Nepal Telecommunication Authority approves the proposal. Along with mobile services, wire line broadband and wireless broadband services for expansion of data services will be promoted all across the country.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3294', 'image' => '20160503011630_nt.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3457', 'article_category_id' => '1', 'title' => 'Rs 1.76 Billion Budget Sealing For Commerce Ministry', 'sub_title' => '', 'summary' => 'May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry. According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.', 'content' => '<p style="text-align:justify">May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry.</p> <p style="text-align:justify">According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.</p> <p style="text-align:justify">Tripathi informs that various plan has been prepared to promote domestic and international trade in coming FY. “In the coming FY, under construction ports in various locations across the country will be concluded and the works on ports that are being planned and surveyed will be commenced,” he adds. Presently, four ports in various locations of the nation are being operated whereas, Larcha Port of Tatopani, Sindhupalchowk that was destroyed due to the devastating earthquake is in reconstruction phase. Similarly, construction of the ports in Chobhar of Kathmandu and Rasuwa Gadhi of Nepal-China Border Area are in starting phase while study is being conducted to construct the ports in Far-Western and Jhapa, informs the Ministry.</p> <p style="text-align:justify">Likewise, construction of Herbal Processing Centre in Surkhet has been included in the program for coming FY. Construction of trading centre in every province, establishment of trade rehabilitation centre in earthquake effective districts, skill development and efficiency promotion for the increment of production of pashmina and other major exported goods are also included in the prepared program. Similarly, programs on infrastructure development, organising of fairs and subsidies for growth of exportable items under Nepal Trade Integration Strategy also has been formulated for the coming FY. According to Trade and Export Promotion Centre, prepared plan also includes formation of trade portal and one-door custom system.</p> <p style="text-align:justify">However, capital expenditure from the current budget allocation till the second quarter of current FY is not that encouraging. According to the Ministry, only 57 percent from current and 13 percent from capital expenditure has been spent so far. The overall progress of various development projects under the Ministry is also discouraging. The physical progress of the projects is 63.27 percent and financial progress is 47.36 percent up to the second quarter of the current FY. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3293', 'image' => '20160503120253_budget.JPG', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3471', 'article_category_id' => '1', 'title' => 'Remittance Agreement between Everest Bank and Xoom Corporation', 'sub_title' => '', 'summary' => 'May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.', 'content' => '<p style="text-align: justify;">May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.</p> <p style="text-align: justify;"> “Nepal receives a significant sum of remittances in proportion to the country’s Gross Domestic Product. The presence of Xoom will further contribute to the easy, secure and convenient transfer of remittances into the country,” said A. K Ahluwalia, Chief Executive Officer of Everest Bank in the press statement. It has been informed that customers can transfer up to $1,000 for a flat fee of $4.99 through Xoom corporation. Similarly, for transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;">Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer.</p> ', 'published' => true, 'created' => '2016-05-05', 'modified' => '2016-05-05', 'keywords' => '', 'description' => '', 'sortorder' => '3307', 'image' => '20160505105915_Everest bank.jpg', 'article_date' => '2016-05-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3470', 'article_category_id' => '1', 'title' => 'Economic Growth at 14-Year Low', 'sub_title' => '', 'summary' => 'May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.', 'content' => '<p style="text-align:justify">May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.</p> <p style="text-align:justify">The Bureau made the depressed growth projection due to the last year’s devastating earthquake, six months long Tarai unrest and decrease in production of rice, wheat and barley due to unfavourable weather. Earlier, the government had estimated economic growth of 6 percent in the budget presentation of the current FY. Meanwhile the Finance Ministry, in its White Paper forecasted the growth rate at 2 percent while the strikes in Terai and the Indian blockade were at full swing. CBS has presented the projection based on various indicators including consumption, savings and investments.</p> <p style="text-align:justify">The bureau has estimated 32.28 percent contribution from primary sector that includes agriculture and forest, fishery and mining and quarrying to the country’s Gross Domestic Product (GDP). Although the contribution of agriculture and forestry is estimated to be 31.19 percent, CBS has estimated its annual growth rate at 1.14 percent. Similarly, the fishery sector is expected to grow by 11.76 percent annually while its contribution to GDP has been logged at o.5 percent. Meanwhile, CBD has estimated increase in annual growth rates of transportation, communication and storage, financial intermediation, real estate and commercial services along with education and health sector.</p> <p style="text-align:justify">Similarly, the annual growth rate of mining and quarrying and industries in GDP is forecasted to decrease by 6.54 percent and 9.86 percent respectively. Likewise, the annual growth of electricity, cooking gas and water, construction sector, wholesale and retail, hotel and restaurants has decreased as well. Meanwhile, the contribution of secondary sectors such as construction, industries and electricity, cooking gas and water has been projected to be 13.43 percent. At the same time, the bureau has estimated 59.29 percent contribution of the third sector comprising service and retail business, hotel and restaurant, transportation, communication and storage and commercial services.</p> <p style="text-align:justify">Similarly, the bureau informed that the revised the economic growth for FY 2014/15 at 2.32 percent.</p> <p style="text-align:justify"><strong>Per Capita Income of Nepali Rs 80,900</strong></p> <p style="text-align:justify">The per capita income of Nepali has increased to Rs 80,921 from last year’s 77,079. The per capita income has increased by Rs 3,842 in current FY in compare to last FY. In US Dollar terms, per capita income has declined by USD 9 to USD 766. Meanwhile, it has revised the per capita income AT 775 USD for the last FY.</p> <p style="text-align:justify"><strong>Size of GDP Rs 2.24 trillion</strong></p> <p style="text-align:justify">CBS has predicted the size of the country’s GDP at Rs 2.24 trillion in current FY. The bureau has revised the size at Rs 2.12 trillion during the last FY. “Nepali economy has been hit hard by the last year’s devastating earthquake followed by border blockade. Therefore, the size of the economy structure will not significantly change in the current FY,” says Suman Aryal Director General of CBS.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3306', 'image' => '20160504034922_annual growth.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3469', 'article_category_id' => '1', 'title' => ' 6 Sectors to Face Negative Growth Rate in Last 7 Years', 'sub_title' => '', 'summary' => 'May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.', 'content' => '<p>May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.</p> <p>The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate</p> <p> Similarly, as per the National Account Estimate Report published on Tuesday the growth rate of other nine sectors are estimated to be positive. CBS has categories total of 15 sectors as economic activities sectors.</p> <p> According to CBS, the devastating earthquake of last year, political instability after declaration of constitution and Indian blockade has simultaneously lead to negative growth rate.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3305', 'image' => '20160504024759_DATA.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3468', 'article_category_id' => '1', 'title' => 'Hero’s Mileage Test in Dhangadi', 'sub_title' => '', 'summary' => 'May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi. “With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.', 'content' => '<p style="text-align: justify;">May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi.</p> <p style="text-align: justify;">“With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.</p> <p style="text-align: justify;">Suruchi Jyoti, Vice Chairman of Nepal General Marketing and Sundara Rajan , Service Asia Head of Hero Motors were present in the event. Sixty hero motor customers participated in the test drive event.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3304', 'image' => '20160504015712_hero.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3467', 'article_category_id' => '1', 'title' => 'Establishment of Industries at Bhairahawa SEZ from Mid-July', 'sub_title' => '', 'summary' => 'May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.', 'content' => '<p style="text-align: justify;">May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.</p> <p style="text-align: justify;">According to the Committee, the interested investors can submit their proposals with detail information of technical and financial capacity, experience of operating industry including others. “In the upcoming three months, the analysis of received proposals, preparation of list, providing license to establish industries including other works will be concluded,” informs Executive Director of the Committee, Chandi Prasad Bhatta.</p> <p style="text-align: justify;">Bhatta added, “Completing all process, the establishment of industries at Bhairahawa SEZ will get started from the mid-August.” According to the new system stated in work procedure, within a year of agreement, the industry should be established and should start the production.</p> <p style="text-align: justify;">Likewise the foreign investment will not be allowed on the industries producing food items and agro products, herbal products, leather goods, carpets and woolen goods, pashmina and silk, hand-made papers, handicrafts and ornaments, sportswear, jewelry and precious stone, plastic production, hosiery, assembled electronics and production of electrical parts, information technology and beverages. “We are planning to provide license to the foreign investors investing in other sectors besides above mentioned sectors,” Bhatta says, adding, “Investors from Taiwan, Korea and China are showing interest to invest in the industries in SEZ.”</p> <p style="text-align: justify;">Likewise, multinational company Coca-Cola has also expressed its willingness to come to SEZ. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3303', 'image' => '20160504015343_bhairaha sez.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3466', 'article_category_id' => '1', 'title' => 'Remit Agreement between Global IME and NCB', 'sub_title' => '', 'summary' => 'May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.', 'content' => '<p style="text-align: justify;">May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.</p> <p style="text-align: justify;">Global IME Bank has already established remittance business in UAE, Qatar, Bahrain, Malaysia, India, UK and South Korea. This is the first time Global IME Bank has collaborated with National Commercial Bank to boost remittance service from Saudi to Nepal. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3302', 'image' => '20160504013904_glo.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3465', 'article_category_id' => '1', 'title' => 'Proposal of Vibor-Society Merger Approved', 'sub_title' => '', 'summary' => 'May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.', 'content' => '<p style="text-align: justify;">May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3301', 'image' => '20160504013525_vibor.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3464', 'article_category_id' => '1', 'title' => 'Mega Bank Appoints Global IME Capital as Issue Manager', 'sub_title' => '', 'summary' => 'May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5th annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.', 'content' => '<p style="text-align: justify;">May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5<sup>th</sup> annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.</p> <p style="text-align: justify;">After issuance of 25 percent right shares, the total paid-up capital of Mega bank will reach Rs 4.05 billion. The bank has collected Rs 29 billion deposit and flowed Rs 26 billion loans, as per the press statement. At present, the bank is serving its customer through 44 branches, 45 ATMs, 53 advanced branchless banking services, 1400 Mega Remit network and 1 extension counters. </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3300', 'image' => '20160504105339_global.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3463', 'article_category_id' => '1', 'title' => 'Private Sector Urges Implementation of Trade Agreements with Neighbours', 'sub_title' => '', 'summary' => 'May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday. In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.', 'content' => '<p style="text-align: justify;">May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday.</p> <p style="text-align: justify;">In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.</p> <p style="text-align: justify;">Chamber also highlighted on the possibility of additional supply problems of fuel and other essential goods with the arrival of rainy season that is already reeling under stocks of problems. Representatives of the Chamber also requested Minister Chanda to solve the inconvenience faced by industrialists while importing goods and involve private sector in policy making.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3299', 'image' => '20160503043522_chiimek.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3462', 'article_category_id' => '1', 'title' => 'Thapa Elected Fewa Bikash Bank Chairman', 'sub_title' => '', 'summary' => 'May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post. Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.', 'content' => '<p style="text-align: justify;">May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post.</p> <p style="text-align: justify;">Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.</p> <p style="text-align: justify;">“The paid-up capital of the bank is Rs 990.50 million,” informed the bank’s CEO Resham Bahadur Thapa. Likewise, the total deposit of the bank is Rs 10.63 billion while the loan stands at Rs 9.33 billion. Serving more than 115,000 customers, the bank has 27 branches. “We are successful in providing fast and convenient services to our customers,” said CEO Thapa, adding, “Our customers are satisfied with the services.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3298', 'image' => '20160503043423_fewa1.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3461', 'article_category_id' => '1', 'title' => '“Nepal Management Symposium” From Friday', 'sub_title' => '', 'summary' => 'May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.', 'content' => '<p style="text-align: justify;">May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.</p> <p style="text-align: justify;">“This symposium is helpful for entrepreneurs, specialist, managers, students and others of management sector to aware them about related subject and its weakness,” says company in a press release adding, “The discussions and results of this event works as a common platform to create a leader for this sector.” The number of participants in the discussion program that takes place for two days is around 100, informed the company.</p> <p style="text-align: justify;">Representatives from different business schools and industries across Nepal will operate the two-day Symposium which includes local and regional management subjects. There will be representatives from related industries and students and participants can share their thoughts and experience with each other in a program that is divided into three sessions.</p> <p style="text-align: justify;">The event will be promoted through mass communication and social media, informed the college in a press release. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3297', 'image' => '20160503032849_syn.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3460', 'article_category_id' => '1', 'title' => 'Garima Bikash Bank opens branch at Burtibang', 'sub_title' => '', 'summary' => 'Garima Bikash Bank opens branch at Burtibang', 'content' => '<p>May 3: The Pokhara- based Garima Bikash Bank has brought its new branch into operation. The branch has been opened at Burtibang of Baglung. Shiva Nath Pandey, Executive Director and Head of Banks and Financial Institution Regulation Department of Nepal Rastra Bank formally inaugurated the new branch.</p> <p>Currently, the bank has paid up capital of Rs 850.32 million. With this the number of branches of Garima Bikas Bank has reached 25, according to the press statement by the bank. The bank till date has made loan investment of 7.20 billion and collected 7.85 billion in deposits.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3296', 'image' => '20160503013152_garima.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3459', 'article_category_id' => '1', 'title' => 'Briz Cement Willing to Assist in Reconstruction', 'sub_title' => '', 'summary' => 'May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement. Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.', 'content' => '<p style="text-align: justify;">May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement.</p> <p style="text-align: justify;">Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.</p> <p style="text-align: justify;">Similarly, the company has demanded the government to provide subsidies on cement production. According to the company, the government has been providing different customs subsidies on the import of Indian cements that are being used in big projects.</p> <p style="text-align: justify;">The company which is providing direct employment to 300 workers is producing more than 8,000 sacks of OPC cement and over 10,000 sacks of PPC cement daily.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3295', 'image' => '20160503012838_brij.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3458', 'article_category_id' => '1', 'title' => 'NT to Distribute 50% Dividend from Today', 'sub_title' => '', 'summary' => 'May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8th AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday. NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.', 'content' => '<p style="text-align: justify;">May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8<sup>th</sup> AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday.</p> <p style="text-align: justify;">NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.</p> <p style="text-align: justify;">Similarly, the AGM has endorsed the annual report and financial reports including profit and loss account of the company. Dinesh Kumar Thapaliya, Chairman of Board of Directors of the company and Secretary of Communication and information Ministry presented the 8<sup>th</sup> annual report of the company in the AGM. In the process, he informed that NT has prepared international standard financial report for the first time implementing Nepal Financial Reporting Standards and International Financial Reporting Standard from the current FY.</p> <p style="text-align: justify;">Thapaliya further informs “NT has expanded 3G service in rural areas as per the goal of prioritising trading and distribution of data services through expansion of optical fibre network. The company aims for availability of EVDO serviced based on IP-CDMA through the expansion of the network and continue the efforts of expanding attractive data service through WiMax service.” “NT has prepared for availability of 4G services as soon as Nepal Telecommunication Authority approves the proposal. Along with mobile services, wire line broadband and wireless broadband services for expansion of data services will be promoted all across the country.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3294', 'image' => '20160503011630_nt.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3457', 'article_category_id' => '1', 'title' => 'Rs 1.76 Billion Budget Sealing For Commerce Ministry', 'sub_title' => '', 'summary' => 'May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry. According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.', 'content' => '<p style="text-align:justify">May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry.</p> <p style="text-align:justify">According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.</p> <p style="text-align:justify">Tripathi informs that various plan has been prepared to promote domestic and international trade in coming FY. “In the coming FY, under construction ports in various locations across the country will be concluded and the works on ports that are being planned and surveyed will be commenced,” he adds. Presently, four ports in various locations of the nation are being operated whereas, Larcha Port of Tatopani, Sindhupalchowk that was destroyed due to the devastating earthquake is in reconstruction phase. Similarly, construction of the ports in Chobhar of Kathmandu and Rasuwa Gadhi of Nepal-China Border Area are in starting phase while study is being conducted to construct the ports in Far-Western and Jhapa, informs the Ministry.</p> <p style="text-align:justify">Likewise, construction of Herbal Processing Centre in Surkhet has been included in the program for coming FY. Construction of trading centre in every province, establishment of trade rehabilitation centre in earthquake effective districts, skill development and efficiency promotion for the increment of production of pashmina and other major exported goods are also included in the prepared program. Similarly, programs on infrastructure development, organising of fairs and subsidies for growth of exportable items under Nepal Trade Integration Strategy also has been formulated for the coming FY. According to Trade and Export Promotion Centre, prepared plan also includes formation of trade portal and one-door custom system.</p> <p style="text-align:justify">However, capital expenditure from the current budget allocation till the second quarter of current FY is not that encouraging. According to the Ministry, only 57 percent from current and 13 percent from capital expenditure has been spent so far. The overall progress of various development projects under the Ministry is also discouraging. The physical progress of the projects is 63.27 percent and financial progress is 47.36 percent up to the second quarter of the current FY. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3293', 'image' => '20160503120253_budget.JPG', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3471', 'article_category_id' => '1', 'title' => 'Remittance Agreement between Everest Bank and Xoom Corporation', 'sub_title' => '', 'summary' => 'May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.', 'content' => '<p style="text-align: justify;">May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.</p> <p style="text-align: justify;"> “Nepal receives a significant sum of remittances in proportion to the country’s Gross Domestic Product. The presence of Xoom will further contribute to the easy, secure and convenient transfer of remittances into the country,” said A. K Ahluwalia, Chief Executive Officer of Everest Bank in the press statement. It has been informed that customers can transfer up to $1,000 for a flat fee of $4.99 through Xoom corporation. Similarly, for transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;">Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer.</p> ', 'published' => true, 'created' => '2016-05-05', 'modified' => '2016-05-05', 'keywords' => '', 'description' => '', 'sortorder' => '3307', 'image' => '20160505105915_Everest bank.jpg', 'article_date' => '2016-05-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3470', 'article_category_id' => '1', 'title' => 'Economic Growth at 14-Year Low', 'sub_title' => '', 'summary' => 'May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.', 'content' => '<p style="text-align:justify">May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.</p> <p style="text-align:justify">The Bureau made the depressed growth projection due to the last year’s devastating earthquake, six months long Tarai unrest and decrease in production of rice, wheat and barley due to unfavourable weather. Earlier, the government had estimated economic growth of 6 percent in the budget presentation of the current FY. Meanwhile the Finance Ministry, in its White Paper forecasted the growth rate at 2 percent while the strikes in Terai and the Indian blockade were at full swing. CBS has presented the projection based on various indicators including consumption, savings and investments.</p> <p style="text-align:justify">The bureau has estimated 32.28 percent contribution from primary sector that includes agriculture and forest, fishery and mining and quarrying to the country’s Gross Domestic Product (GDP). Although the contribution of agriculture and forestry is estimated to be 31.19 percent, CBS has estimated its annual growth rate at 1.14 percent. Similarly, the fishery sector is expected to grow by 11.76 percent annually while its contribution to GDP has been logged at o.5 percent. Meanwhile, CBD has estimated increase in annual growth rates of transportation, communication and storage, financial intermediation, real estate and commercial services along with education and health sector.</p> <p style="text-align:justify">Similarly, the annual growth rate of mining and quarrying and industries in GDP is forecasted to decrease by 6.54 percent and 9.86 percent respectively. Likewise, the annual growth of electricity, cooking gas and water, construction sector, wholesale and retail, hotel and restaurants has decreased as well. Meanwhile, the contribution of secondary sectors such as construction, industries and electricity, cooking gas and water has been projected to be 13.43 percent. At the same time, the bureau has estimated 59.29 percent contribution of the third sector comprising service and retail business, hotel and restaurant, transportation, communication and storage and commercial services.</p> <p style="text-align:justify">Similarly, the bureau informed that the revised the economic growth for FY 2014/15 at 2.32 percent.</p> <p style="text-align:justify"><strong>Per Capita Income of Nepali Rs 80,900</strong></p> <p style="text-align:justify">The per capita income of Nepali has increased to Rs 80,921 from last year’s 77,079. The per capita income has increased by Rs 3,842 in current FY in compare to last FY. In US Dollar terms, per capita income has declined by USD 9 to USD 766. Meanwhile, it has revised the per capita income AT 775 USD for the last FY.</p> <p style="text-align:justify"><strong>Size of GDP Rs 2.24 trillion</strong></p> <p style="text-align:justify">CBS has predicted the size of the country’s GDP at Rs 2.24 trillion in current FY. The bureau has revised the size at Rs 2.12 trillion during the last FY. “Nepali economy has been hit hard by the last year’s devastating earthquake followed by border blockade. Therefore, the size of the economy structure will not significantly change in the current FY,” says Suman Aryal Director General of CBS.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3306', 'image' => '20160504034922_annual growth.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3469', 'article_category_id' => '1', 'title' => ' 6 Sectors to Face Negative Growth Rate in Last 7 Years', 'sub_title' => '', 'summary' => 'May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.', 'content' => '<p>May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.</p> <p>The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate</p> <p> Similarly, as per the National Account Estimate Report published on Tuesday the growth rate of other nine sectors are estimated to be positive. CBS has categories total of 15 sectors as economic activities sectors.</p> <p> According to CBS, the devastating earthquake of last year, political instability after declaration of constitution and Indian blockade has simultaneously lead to negative growth rate.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3305', 'image' => '20160504024759_DATA.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3468', 'article_category_id' => '1', 'title' => 'Hero’s Mileage Test in Dhangadi', 'sub_title' => '', 'summary' => 'May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi. “With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.', 'content' => '<p style="text-align: justify;">May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi.</p> <p style="text-align: justify;">“With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.</p> <p style="text-align: justify;">Suruchi Jyoti, Vice Chairman of Nepal General Marketing and Sundara Rajan , Service Asia Head of Hero Motors were present in the event. Sixty hero motor customers participated in the test drive event.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3304', 'image' => '20160504015712_hero.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3467', 'article_category_id' => '1', 'title' => 'Establishment of Industries at Bhairahawa SEZ from Mid-July', 'sub_title' => '', 'summary' => 'May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.', 'content' => '<p style="text-align: justify;">May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.</p> <p style="text-align: justify;">According to the Committee, the interested investors can submit their proposals with detail information of technical and financial capacity, experience of operating industry including others. “In the upcoming three months, the analysis of received proposals, preparation of list, providing license to establish industries including other works will be concluded,” informs Executive Director of the Committee, Chandi Prasad Bhatta.</p> <p style="text-align: justify;">Bhatta added, “Completing all process, the establishment of industries at Bhairahawa SEZ will get started from the mid-August.” According to the new system stated in work procedure, within a year of agreement, the industry should be established and should start the production.</p> <p style="text-align: justify;">Likewise the foreign investment will not be allowed on the industries producing food items and agro products, herbal products, leather goods, carpets and woolen goods, pashmina and silk, hand-made papers, handicrafts and ornaments, sportswear, jewelry and precious stone, plastic production, hosiery, assembled electronics and production of electrical parts, information technology and beverages. “We are planning to provide license to the foreign investors investing in other sectors besides above mentioned sectors,” Bhatta says, adding, “Investors from Taiwan, Korea and China are showing interest to invest in the industries in SEZ.”</p> <p style="text-align: justify;">Likewise, multinational company Coca-Cola has also expressed its willingness to come to SEZ. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3303', 'image' => '20160504015343_bhairaha sez.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3466', 'article_category_id' => '1', 'title' => 'Remit Agreement between Global IME and NCB', 'sub_title' => '', 'summary' => 'May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.', 'content' => '<p style="text-align: justify;">May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.</p> <p style="text-align: justify;">Global IME Bank has already established remittance business in UAE, Qatar, Bahrain, Malaysia, India, UK and South Korea. This is the first time Global IME Bank has collaborated with National Commercial Bank to boost remittance service from Saudi to Nepal. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3302', 'image' => '20160504013904_glo.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3465', 'article_category_id' => '1', 'title' => 'Proposal of Vibor-Society Merger Approved', 'sub_title' => '', 'summary' => 'May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.', 'content' => '<p style="text-align: justify;">May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3301', 'image' => '20160504013525_vibor.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3464', 'article_category_id' => '1', 'title' => 'Mega Bank Appoints Global IME Capital as Issue Manager', 'sub_title' => '', 'summary' => 'May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5th annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.', 'content' => '<p style="text-align: justify;">May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5<sup>th</sup> annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.</p> <p style="text-align: justify;">After issuance of 25 percent right shares, the total paid-up capital of Mega bank will reach Rs 4.05 billion. The bank has collected Rs 29 billion deposit and flowed Rs 26 billion loans, as per the press statement. At present, the bank is serving its customer through 44 branches, 45 ATMs, 53 advanced branchless banking services, 1400 Mega Remit network and 1 extension counters. </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3300', 'image' => '20160504105339_global.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3463', 'article_category_id' => '1', 'title' => 'Private Sector Urges Implementation of Trade Agreements with Neighbours', 'sub_title' => '', 'summary' => 'May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday. In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.', 'content' => '<p style="text-align: justify;">May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday.</p> <p style="text-align: justify;">In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.</p> <p style="text-align: justify;">Chamber also highlighted on the possibility of additional supply problems of fuel and other essential goods with the arrival of rainy season that is already reeling under stocks of problems. Representatives of the Chamber also requested Minister Chanda to solve the inconvenience faced by industrialists while importing goods and involve private sector in policy making.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3299', 'image' => '20160503043522_chiimek.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3462', 'article_category_id' => '1', 'title' => 'Thapa Elected Fewa Bikash Bank Chairman', 'sub_title' => '', 'summary' => 'May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post. Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.', 'content' => '<p style="text-align: justify;">May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post.</p> <p style="text-align: justify;">Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.</p> <p style="text-align: justify;">“The paid-up capital of the bank is Rs 990.50 million,” informed the bank’s CEO Resham Bahadur Thapa. Likewise, the total deposit of the bank is Rs 10.63 billion while the loan stands at Rs 9.33 billion. Serving more than 115,000 customers, the bank has 27 branches. “We are successful in providing fast and convenient services to our customers,” said CEO Thapa, adding, “Our customers are satisfied with the services.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3298', 'image' => '20160503043423_fewa1.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3461', 'article_category_id' => '1', 'title' => '“Nepal Management Symposium” From Friday', 'sub_title' => '', 'summary' => 'May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.', 'content' => '<p style="text-align: justify;">May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.</p> <p style="text-align: justify;">“This symposium is helpful for entrepreneurs, specialist, managers, students and others of management sector to aware them about related subject and its weakness,” says company in a press release adding, “The discussions and results of this event works as a common platform to create a leader for this sector.” The number of participants in the discussion program that takes place for two days is around 100, informed the company.</p> <p style="text-align: justify;">Representatives from different business schools and industries across Nepal will operate the two-day Symposium which includes local and regional management subjects. There will be representatives from related industries and students and participants can share their thoughts and experience with each other in a program that is divided into three sessions.</p> <p style="text-align: justify;">The event will be promoted through mass communication and social media, informed the college in a press release. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3297', 'image' => '20160503032849_syn.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3460', 'article_category_id' => '1', 'title' => 'Garima Bikash Bank opens branch at Burtibang', 'sub_title' => '', 'summary' => 'Garima Bikash Bank opens branch at Burtibang', 'content' => '<p>May 3: The Pokhara- based Garima Bikash Bank has brought its new branch into operation. The branch has been opened at Burtibang of Baglung. Shiva Nath Pandey, Executive Director and Head of Banks and Financial Institution Regulation Department of Nepal Rastra Bank formally inaugurated the new branch.</p> <p>Currently, the bank has paid up capital of Rs 850.32 million. With this the number of branches of Garima Bikas Bank has reached 25, according to the press statement by the bank. The bank till date has made loan investment of 7.20 billion and collected 7.85 billion in deposits.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3296', 'image' => '20160503013152_garima.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3459', 'article_category_id' => '1', 'title' => 'Briz Cement Willing to Assist in Reconstruction', 'sub_title' => '', 'summary' => 'May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement. Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.', 'content' => '<p style="text-align: justify;">May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement.</p> <p style="text-align: justify;">Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.</p> <p style="text-align: justify;">Similarly, the company has demanded the government to provide subsidies on cement production. According to the company, the government has been providing different customs subsidies on the import of Indian cements that are being used in big projects.</p> <p style="text-align: justify;">The company which is providing direct employment to 300 workers is producing more than 8,000 sacks of OPC cement and over 10,000 sacks of PPC cement daily.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3295', 'image' => '20160503012838_brij.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3458', 'article_category_id' => '1', 'title' => 'NT to Distribute 50% Dividend from Today', 'sub_title' => '', 'summary' => 'May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8th AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday. NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.', 'content' => '<p style="text-align: justify;">May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8<sup>th</sup> AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday.</p> <p style="text-align: justify;">NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.</p> <p style="text-align: justify;">Similarly, the AGM has endorsed the annual report and financial reports including profit and loss account of the company. Dinesh Kumar Thapaliya, Chairman of Board of Directors of the company and Secretary of Communication and information Ministry presented the 8<sup>th</sup> annual report of the company in the AGM. In the process, he informed that NT has prepared international standard financial report for the first time implementing Nepal Financial Reporting Standards and International Financial Reporting Standard from the current FY.</p> <p style="text-align: justify;">Thapaliya further informs “NT has expanded 3G service in rural areas as per the goal of prioritising trading and distribution of data services through expansion of optical fibre network. The company aims for availability of EVDO serviced based on IP-CDMA through the expansion of the network and continue the efforts of expanding attractive data service through WiMax service.” “NT has prepared for availability of 4G services as soon as Nepal Telecommunication Authority approves the proposal. Along with mobile services, wire line broadband and wireless broadband services for expansion of data services will be promoted all across the country.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3294', 'image' => '20160503011630_nt.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3457', 'article_category_id' => '1', 'title' => 'Rs 1.76 Billion Budget Sealing For Commerce Ministry', 'sub_title' => '', 'summary' => 'May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry. According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.', 'content' => '<p style="text-align:justify">May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry.</p> <p style="text-align:justify">According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.</p> <p style="text-align:justify">Tripathi informs that various plan has been prepared to promote domestic and international trade in coming FY. “In the coming FY, under construction ports in various locations across the country will be concluded and the works on ports that are being planned and surveyed will be commenced,” he adds. Presently, four ports in various locations of the nation are being operated whereas, Larcha Port of Tatopani, Sindhupalchowk that was destroyed due to the devastating earthquake is in reconstruction phase. Similarly, construction of the ports in Chobhar of Kathmandu and Rasuwa Gadhi of Nepal-China Border Area are in starting phase while study is being conducted to construct the ports in Far-Western and Jhapa, informs the Ministry.</p> <p style="text-align:justify">Likewise, construction of Herbal Processing Centre in Surkhet has been included in the program for coming FY. Construction of trading centre in every province, establishment of trade rehabilitation centre in earthquake effective districts, skill development and efficiency promotion for the increment of production of pashmina and other major exported goods are also included in the prepared program. Similarly, programs on infrastructure development, organising of fairs and subsidies for growth of exportable items under Nepal Trade Integration Strategy also has been formulated for the coming FY. According to Trade and Export Promotion Centre, prepared plan also includes formation of trade portal and one-door custom system.</p> <p style="text-align:justify">However, capital expenditure from the current budget allocation till the second quarter of current FY is not that encouraging. According to the Ministry, only 57 percent from current and 13 percent from capital expenditure has been spent so far. The overall progress of various development projects under the Ministry is also discouraging. The physical progress of the projects is 63.27 percent and financial progress is 47.36 percent up to the second quarter of the current FY. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3293', 'image' => '20160503120253_budget.JPG', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3471', 'article_category_id' => '1', 'title' => 'Remittance Agreement between Everest Bank and Xoom Corporation', 'sub_title' => '', 'summary' => 'May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.', 'content' => '<p style="text-align: justify;">May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.</p> <p style="text-align: justify;"> “Nepal receives a significant sum of remittances in proportion to the country’s Gross Domestic Product. The presence of Xoom will further contribute to the easy, secure and convenient transfer of remittances into the country,” said A. K Ahluwalia, Chief Executive Officer of Everest Bank in the press statement. It has been informed that customers can transfer up to $1,000 for a flat fee of $4.99 through Xoom corporation. Similarly, for transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;">Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer.</p> ', 'published' => true, 'created' => '2016-05-05', 'modified' => '2016-05-05', 'keywords' => '', 'description' => '', 'sortorder' => '3307', 'image' => '20160505105915_Everest bank.jpg', 'article_date' => '2016-05-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3470', 'article_category_id' => '1', 'title' => 'Economic Growth at 14-Year Low', 'sub_title' => '', 'summary' => 'May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.', 'content' => '<p style="text-align:justify">May 4: The government has made an initial projection of the economic growth at 0.77 percent for the fiscal year 2015/16. The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate which has narrowly avoided entering into a negative territory in the current FY. As per the CBS, the growth projection is lowest in the last 14 years. The nation had witnessed economic growth of 0.16 percent during the FY 2001-02 due to the spiralling arm conflict along with Royal Massacre and unfavourable weather.</p> <p style="text-align:justify">The Bureau made the depressed growth projection due to the last year’s devastating earthquake, six months long Tarai unrest and decrease in production of rice, wheat and barley due to unfavourable weather. Earlier, the government had estimated economic growth of 6 percent in the budget presentation of the current FY. Meanwhile the Finance Ministry, in its White Paper forecasted the growth rate at 2 percent while the strikes in Terai and the Indian blockade were at full swing. CBS has presented the projection based on various indicators including consumption, savings and investments.</p> <p style="text-align:justify">The bureau has estimated 32.28 percent contribution from primary sector that includes agriculture and forest, fishery and mining and quarrying to the country’s Gross Domestic Product (GDP). Although the contribution of agriculture and forestry is estimated to be 31.19 percent, CBS has estimated its annual growth rate at 1.14 percent. Similarly, the fishery sector is expected to grow by 11.76 percent annually while its contribution to GDP has been logged at o.5 percent. Meanwhile, CBD has estimated increase in annual growth rates of transportation, communication and storage, financial intermediation, real estate and commercial services along with education and health sector.</p> <p style="text-align:justify">Similarly, the annual growth rate of mining and quarrying and industries in GDP is forecasted to decrease by 6.54 percent and 9.86 percent respectively. Likewise, the annual growth of electricity, cooking gas and water, construction sector, wholesale and retail, hotel and restaurants has decreased as well. Meanwhile, the contribution of secondary sectors such as construction, industries and electricity, cooking gas and water has been projected to be 13.43 percent. At the same time, the bureau has estimated 59.29 percent contribution of the third sector comprising service and retail business, hotel and restaurant, transportation, communication and storage and commercial services.</p> <p style="text-align:justify">Similarly, the bureau informed that the revised the economic growth for FY 2014/15 at 2.32 percent.</p> <p style="text-align:justify"><strong>Per Capita Income of Nepali Rs 80,900</strong></p> <p style="text-align:justify">The per capita income of Nepali has increased to Rs 80,921 from last year’s 77,079. The per capita income has increased by Rs 3,842 in current FY in compare to last FY. In US Dollar terms, per capita income has declined by USD 9 to USD 766. Meanwhile, it has revised the per capita income AT 775 USD for the last FY.</p> <p style="text-align:justify"><strong>Size of GDP Rs 2.24 trillion</strong></p> <p style="text-align:justify">CBS has predicted the size of the country’s GDP at Rs 2.24 trillion in current FY. The bureau has revised the size at Rs 2.12 trillion during the last FY. “Nepali economy has been hit hard by the last year’s devastating earthquake followed by border blockade. Therefore, the size of the economy structure will not significantly change in the current FY,” says Suman Aryal Director General of CBS.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3306', 'image' => '20160504034922_annual growth.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3469', 'article_category_id' => '1', 'title' => ' 6 Sectors to Face Negative Growth Rate in Last 7 Years', 'sub_title' => '', 'summary' => 'May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.', 'content' => '<p>May 4: The Central Bureau of Statistics (CBS) has projected negative growth rate for six sectors in the current fiscal year 2015/16. The six sectors include mining and quarring, industry, electricity, gas and water, construction sector, wholesale and retail business sector, and hotel and restaurant sectors. These sectors have faced negative growth rate for the first time since last seven years. According to the statistics of CBS, these sectors have continuously logged increasing annual growth rates in the last seven years. Besides having fluctuating growth rate between FY 2009/10 to 2014/15, the sectors have not logged negative growth rate.</p> <p>The Central Bureau of Statistics (CBS) in its National Account Estimate Report published on Tuesday estimated the growth rate</p> <p> Similarly, as per the National Account Estimate Report published on Tuesday the growth rate of other nine sectors are estimated to be positive. CBS has categories total of 15 sectors as economic activities sectors.</p> <p> According to CBS, the devastating earthquake of last year, political instability after declaration of constitution and Indian blockade has simultaneously lead to negative growth rate.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3305', 'image' => '20160504024759_DATA.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3468', 'article_category_id' => '1', 'title' => 'Hero’s Mileage Test in Dhangadi', 'sub_title' => '', 'summary' => 'May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi. “With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.', 'content' => '<p style="text-align: justify;">May 4: Nepal General Marketing (NGM), the authorized distributor of Hero two-wheelers in Nepal, has conducted Hero Mileage Test program at Dhangadi on Tuesday. The program was organised jointly by NGM and Bishesh Automobiles, the authorised distributor of Hero two-wheelers for Dhangadi.</p> <p style="text-align: justify;">“With the slogan ‘Every Drop of Fuel is Useful’, the program was held to inform people about the condition of mileage and the ways to attain high mileage levels for their two-wheelers ,” said Pushkar Sharma, General Manager of Bishesh Automobiles.</p> <p style="text-align: justify;">Suruchi Jyoti, Vice Chairman of Nepal General Marketing and Sundara Rajan , Service Asia Head of Hero Motors were present in the event. Sixty hero motor customers participated in the test drive event.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3304', 'image' => '20160504015712_hero.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3467', 'article_category_id' => '1', 'title' => 'Establishment of Industries at Bhairahawa SEZ from Mid-July', 'sub_title' => '', 'summary' => 'May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.', 'content' => '<p style="text-align: justify;">May 4: The establishment of industries in Bhairahawa Special Economic Zone (SEZ) will start from mid-July. After the essential amendment of the work procedure of Special Economic Zone Development Committee by the Cabinet, inviting the investors for the establishment of industries, the necessary procedure was moved forward for the operation of Bhairahawa Sez.</p> <p style="text-align: justify;">According to the Committee, the interested investors can submit their proposals with detail information of technical and financial capacity, experience of operating industry including others. “In the upcoming three months, the analysis of received proposals, preparation of list, providing license to establish industries including other works will be concluded,” informs Executive Director of the Committee, Chandi Prasad Bhatta.</p> <p style="text-align: justify;">Bhatta added, “Completing all process, the establishment of industries at Bhairahawa SEZ will get started from the mid-August.” According to the new system stated in work procedure, within a year of agreement, the industry should be established and should start the production.</p> <p style="text-align: justify;">Likewise the foreign investment will not be allowed on the industries producing food items and agro products, herbal products, leather goods, carpets and woolen goods, pashmina and silk, hand-made papers, handicrafts and ornaments, sportswear, jewelry and precious stone, plastic production, hosiery, assembled electronics and production of electrical parts, information technology and beverages. “We are planning to provide license to the foreign investors investing in other sectors besides above mentioned sectors,” Bhatta says, adding, “Investors from Taiwan, Korea and China are showing interest to invest in the industries in SEZ.”</p> <p style="text-align: justify;">Likewise, multinational company Coca-Cola has also expressed its willingness to come to SEZ. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3303', 'image' => '20160504015343_bhairaha sez.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3466', 'article_category_id' => '1', 'title' => 'Remit Agreement between Global IME and NCB', 'sub_title' => '', 'summary' => 'May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.', 'content' => '<p style="text-align: justify;">May 4: Global IME Bank has collaborated with the Saudi Arabian National Commercial Bank’s (NCB) quickpay service in order to facilitate remittance service from Saudi Arabia. “Nepalese migrant workers can now send money through 150 quickpay service locations from Saudi Arabia,” the bank said in a press statement. According to the bank, recipients can instantly receive payment from all Global IME branches, any IMEs and remit agents.</p> <p style="text-align: justify;">Global IME Bank has already established remittance business in UAE, Qatar, Bahrain, Malaysia, India, UK and South Korea. This is the first time Global IME Bank has collaborated with National Commercial Bank to boost remittance service from Saudi to Nepal. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3302', 'image' => '20160504013904_glo.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3465', 'article_category_id' => '1', 'title' => 'Proposal of Vibor-Society Merger Approved', 'sub_title' => '', 'summary' => 'May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.', 'content' => '<p style="text-align: justify;">May 4: The merger proposal of Vibor Bikas Bank and Society Development Bank has been approved. The special general meeting held on Tuesday also endorsed the proposals of renaming the merged entity as Vibor Society Development Bank and valuation of the shares of both banks in the proportion of 1:1. The paid-up capital of the bank after merger will exceed to Rs 1.80 billion. The Bank has planned to merge with another organisation for insufficient paid up capital.</p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3301', 'image' => '20160504013525_vibor.JPG', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3464', 'article_category_id' => '1', 'title' => 'Mega Bank Appoints Global IME Capital as Issue Manager', 'sub_title' => '', 'summary' => 'May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5th annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.', 'content' => '<p style="text-align: justify;">May 4: Mega Bank has appointed Global IME Capital as issue manager for issuance of 25 percent right shares endorsed by its 5<sup>th</sup> annual general meeting. Anupama Khunjeli, Chief Operating Officer of Mega Bank and Nalina Shrestha, Chief Merchant Banking Officer of Global IME Capital signed the agreement amid a program organised on Monday.</p> <p style="text-align: justify;">After issuance of 25 percent right shares, the total paid-up capital of Mega bank will reach Rs 4.05 billion. The bank has collected Rs 29 billion deposit and flowed Rs 26 billion loans, as per the press statement. At present, the bank is serving its customer through 44 branches, 45 ATMs, 53 advanced branchless banking services, 1400 Mega Remit network and 1 extension counters. </p> ', 'published' => true, 'created' => '2016-05-04', 'modified' => '2016-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '3300', 'image' => '20160504105339_global.jpg', 'article_date' => '2016-05-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3463', 'article_category_id' => '1', 'title' => 'Private Sector Urges Implementation of Trade Agreements with Neighbours', 'sub_title' => '', 'summary' => 'May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday. In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.', 'content' => '<p style="text-align: justify;">May 3: The private sector has emphasised on implementation of trade agreements that were finalised with neighbouring countries. A delegation of Nepal Chamber of Commerce emphasised on implementation of such agreements in a meeting with Commerce Minister Jayanta Chanda on Monday.</p> <p style="text-align: justify;">In the meeting, Rajesh Kaji Shrestha, Chairman of the Chamber stressed on implementation of various trade and transit agreements that were made with China and India in recent visits, requesting to inform on the progress on implementation of the agreements. He also demanded government’s special attention on rehabilitation of industries that were destroyed by the devastating earthquake and border blockade for economic development of the country.</p> <p style="text-align: justify;">Chamber also highlighted on the possibility of additional supply problems of fuel and other essential goods with the arrival of rainy season that is already reeling under stocks of problems. Representatives of the Chamber also requested Minister Chanda to solve the inconvenience faced by industrialists while importing goods and involve private sector in policy making.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3299', 'image' => '20160503043522_chiimek.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3462', 'article_category_id' => '1', 'title' => 'Thapa Elected Fewa Bikash Bank Chairman', 'sub_title' => '', 'summary' => 'May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post. Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.', 'content' => '<p style="text-align: justify;">May 3: Bindu Kumar Thapa has been elected as the new Chairman of Fewa Bikash Bank. A recent meeting of board of directors of the bank unanimously elected Thapa in the post.</p> <p style="text-align: justify;">Earlier, the bank’s general assembly held on April 12 elected Ram Bhakta Ranjit, Rabindra Makaju, Sanjib Baniya including Thapa as the members of board of directors. Fewa Bikash Bank came into existence with the merger between Fewa Finance of Pokhara and Bishwa Bikash Bank last year.</p> <p style="text-align: justify;">“The paid-up capital of the bank is Rs 990.50 million,” informed the bank’s CEO Resham Bahadur Thapa. Likewise, the total deposit of the bank is Rs 10.63 billion while the loan stands at Rs 9.33 billion. Serving more than 115,000 customers, the bank has 27 branches. “We are successful in providing fast and convenient services to our customers,” said CEO Thapa, adding, “Our customers are satisfied with the services.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3298', 'image' => '20160503043423_fewa1.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3461', 'article_category_id' => '1', 'title' => '“Nepal Management Symposium” From Friday', 'sub_title' => '', 'summary' => 'May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.', 'content' => '<p style="text-align: justify;">May 3: “Nepal Management Symposium-2016”, organised by Kathmandu College of Management in a bid to provide information of management sector, is going to be held on May 6-7. According to the organizer, entrepreneurs of management sector, interested peoples and individuals who want to make their future in this sector can participate in the event that is going to be held at Hotel Radisson.</p> <p style="text-align: justify;">“This symposium is helpful for entrepreneurs, specialist, managers, students and others of management sector to aware them about related subject and its weakness,” says company in a press release adding, “The discussions and results of this event works as a common platform to create a leader for this sector.” The number of participants in the discussion program that takes place for two days is around 100, informed the company.</p> <p style="text-align: justify;">Representatives from different business schools and industries across Nepal will operate the two-day Symposium which includes local and regional management subjects. There will be representatives from related industries and students and participants can share their thoughts and experience with each other in a program that is divided into three sessions.</p> <p style="text-align: justify;">The event will be promoted through mass communication and social media, informed the college in a press release. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3297', 'image' => '20160503032849_syn.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3460', 'article_category_id' => '1', 'title' => 'Garima Bikash Bank opens branch at Burtibang', 'sub_title' => '', 'summary' => 'Garima Bikash Bank opens branch at Burtibang', 'content' => '<p>May 3: The Pokhara- based Garima Bikash Bank has brought its new branch into operation. The branch has been opened at Burtibang of Baglung. Shiva Nath Pandey, Executive Director and Head of Banks and Financial Institution Regulation Department of Nepal Rastra Bank formally inaugurated the new branch.</p> <p>Currently, the bank has paid up capital of Rs 850.32 million. With this the number of branches of Garima Bikas Bank has reached 25, according to the press statement by the bank. The bank till date has made loan investment of 7.20 billion and collected 7.85 billion in deposits.</p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3296', 'image' => '20160503013152_garima.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3459', 'article_category_id' => '1', 'title' => 'Briz Cement Willing to Assist in Reconstruction', 'sub_title' => '', 'summary' => 'May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement. Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.', 'content' => '<p style="text-align: justify;">May 3: Briz Cement under the Kedia Organization has expressed its willingness to coordinate with the government for the post-quake reconstruction. The company pledged to produce quality cement if the government provides subsidies on certain quota of the cement.</p> <p style="text-align: justify;">Organizing a program at Rupendehi, the company has taken suggestions from stakeholders for the qualitative production and market promotion of the cement. On a discussion held with different engineers working on various sectors of Rupendehi, the company informed that it is focusing on the promotion of its PPC and OPC cements including all eight brands.</p> <p style="text-align: justify;">Similarly, the company has demanded the government to provide subsidies on cement production. According to the company, the government has been providing different customs subsidies on the import of Indian cements that are being used in big projects.</p> <p style="text-align: justify;">The company which is providing direct employment to 300 workers is producing more than 8,000 sacks of OPC cement and over 10,000 sacks of PPC cement daily.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3295', 'image' => '20160503012838_brij.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3458', 'article_category_id' => '1', 'title' => 'NT to Distribute 50% Dividend from Today', 'sub_title' => '', 'summary' => 'May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8th AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday. NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.', 'content' => '<p style="text-align: justify;">May 3: Nepal Telecommunication Company Limited (Nepal Telecom or NT) is distributing 50 percent dividend to its shareholders. The 8<sup>th</sup> AGM of NT held on Monday had endorsed the dividend proposal. The endorsed dividend will be distributed among the shareholders from Tuesday.</p> <p style="text-align: justify;">NT has earned Rs 14.55 billion net profit after tax in the previous FY 2071/72, from which, the company is distributing 50 percent of total paid up capital as dividend to its shareholders.</p> <p style="text-align: justify;">Similarly, the AGM has endorsed the annual report and financial reports including profit and loss account of the company. Dinesh Kumar Thapaliya, Chairman of Board of Directors of the company and Secretary of Communication and information Ministry presented the 8<sup>th</sup> annual report of the company in the AGM. In the process, he informed that NT has prepared international standard financial report for the first time implementing Nepal Financial Reporting Standards and International Financial Reporting Standard from the current FY.</p> <p style="text-align: justify;">Thapaliya further informs “NT has expanded 3G service in rural areas as per the goal of prioritising trading and distribution of data services through expansion of optical fibre network. The company aims for availability of EVDO serviced based on IP-CDMA through the expansion of the network and continue the efforts of expanding attractive data service through WiMax service.” “NT has prepared for availability of 4G services as soon as Nepal Telecommunication Authority approves the proposal. Along with mobile services, wire line broadband and wireless broadband services for expansion of data services will be promoted all across the country.” </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3294', 'image' => '20160503011630_nt.jpg', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3457', 'article_category_id' => '1', 'title' => 'Rs 1.76 Billion Budget Sealing For Commerce Ministry', 'sub_title' => '', 'summary' => 'May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry. According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.', 'content' => '<p style="text-align:justify">May 3: Ministry of Finance has allocated Rs 1.76 billion budget sealing for Ministry of Commerce for the coming fiscal year 2073/74. The budget sealing is Rs 150 million more than current FY 2072/73. In the current FY, Rs 1.61 billion was allocated for the Finance Ministry.</p> <p style="text-align:justify">According to the Ministry, various programs have been prepared for coming FY compatible with the budget sealing. “Issues of export promotion and infrastructure development for trade promotion have been kept in priority for coming FY,” says Shiva Tripathi, Vice-Secretary of the Ministry.</p> <p style="text-align:justify">Tripathi informs that various plan has been prepared to promote domestic and international trade in coming FY. “In the coming FY, under construction ports in various locations across the country will be concluded and the works on ports that are being planned and surveyed will be commenced,” he adds. Presently, four ports in various locations of the nation are being operated whereas, Larcha Port of Tatopani, Sindhupalchowk that was destroyed due to the devastating earthquake is in reconstruction phase. Similarly, construction of the ports in Chobhar of Kathmandu and Rasuwa Gadhi of Nepal-China Border Area are in starting phase while study is being conducted to construct the ports in Far-Western and Jhapa, informs the Ministry.</p> <p style="text-align:justify">Likewise, construction of Herbal Processing Centre in Surkhet has been included in the program for coming FY. Construction of trading centre in every province, establishment of trade rehabilitation centre in earthquake effective districts, skill development and efficiency promotion for the increment of production of pashmina and other major exported goods are also included in the prepared program. Similarly, programs on infrastructure development, organising of fairs and subsidies for growth of exportable items under Nepal Trade Integration Strategy also has been formulated for the coming FY. According to Trade and Export Promotion Centre, prepared plan also includes formation of trade portal and one-door custom system.</p> <p style="text-align:justify">However, capital expenditure from the current budget allocation till the second quarter of current FY is not that encouraging. According to the Ministry, only 57 percent from current and 13 percent from capital expenditure has been spent so far. The overall progress of various development projects under the Ministry is also discouraging. The physical progress of the projects is 63.27 percent and financial progress is 47.36 percent up to the second quarter of the current FY. </p> ', 'published' => true, 'created' => '2016-05-03', 'modified' => '2016-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '3293', 'image' => '20160503120253_budget.JPG', 'article_date' => '2016-05-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
