April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the…
April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and…
Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I…
April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April…
April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been…
A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press…
April 21: Global IME Bank has formally inaugurated its Representative Office at New Delhi, India on April 20. Mr. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank and Mr. K.B. Pandit, General Manager of Reserve Bank of India jointly inaugurated the office amid a program yesterday. Mr. Chandra Prasad Dhakal, Chairman of the Bank, Mr. Anil Gyawali, CEO of the bank along with other delegates from the Nepalese Embassy in Delhi were also present in the…
April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press…
April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the…
April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic…
April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July…
April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been…
April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year. Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year.…
April 20: Recently published ‘Macroeconomic and Financial Situation of Nepal’ by Nepal Rastra Bank shows that in the eight months of 2015/16, merchandise exports has dropped by 24.9 percent to Rs. 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. NRB statistics reveals that exports to India has fallen by 34.5 percent, China by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheet, textiles, GI pipe, juice, among others to India; tanned skin, noodles, readymade garments, among others to China; and pulses, tanned skin, readymade leather goods, tea, among others to other countries…
April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs…
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For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.', 'content' => '<p style="text-align: justify;">April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.</p> <p style="text-align: justify;">Likewise, the bank has started new scheme focusing on share investors. In the new Share Account Service, investors will be able to get cash dividend and un-allotted IPO money directly into their accounts. Similarly, the bank has introduced Smart Bank Scheme, under which, customers can transfer money to any account of Nabil Bank and 34 other member banks in the E-Sewa Network. Customers can also use the service from the bank’s mobile app. </p> ', 'published' => true, 'created' => '2016-04-22', 'modified' => '2016-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '3223', 'image' => '20160422111750_20160422093517_nabil bank.jpg', 'article_date' => '2016-04-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3384', 'article_category_id' => '1', 'title' => 'NT Unveils Two-Year Action Plan', 'sub_title' => 'Aims 7.8 million New Customers', 'summary' => 'April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.', 'content' => '<p style="text-align: justify;">April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.</p> <p style="text-align: justify;">“The company aims to add 4 million GSM, 0.3 million CDMA, 3.5 million internet and 0.08 million PSTN customers within the next two years,” informs Acharya. As of mid-February, NT has a total of 14.06 million customers across various segments of its services. The company has 11.9 million customers of GSM, 1.47 million customers of CDMA, 0.667 million customers of PSTN and 7.16 million customers of internet.</p> <p style="text-align: justify;">“NT should move ahead as per the will of general public,” says Sherdhan Rai, Information and Communication Minister, in the public program organised to publish company’s two year action plan. He stressed that the company should establish itself as reliable service provider as per public’s will and demand through its service quality, effectiveness, segments of services and advanced technology. “Old methods cannot take the company ahead,” he opines, directing the employees to act responsible towards the organisation. “Action plan is not formulated to stay idle. Today’s requirement is to work as per will and emotions of public. It should not be taken as interference.”</p> <p style="text-align: justify;">Dinesh Kumar Thapaliya, Secretary of Information and Communication Ministry and Chairman of NT Board says that action plan is prepared in a bid to improve effectiveness of NT. He views that NT can take the number one spot if the company succeeds in following the action plan.</p> <p style="text-align: justify;">NT plans to systemise its income by facilitating payment of related charges/fees through credit card till the end of the current FY. The company also plans to increase its competency by managing various equipments around the Kathmandu Valley.</p> <p style="text-align: justify;">Company also aims to expand countrywide Wi-Fi services through Wimax technology from the next FY. Acharya informs that company is planning to start roaming service from mid-June in collaboration with foreign mobile service providers.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3221', 'image' => '20160421051513_Nepal_Telecom 2.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3383', 'article_category_id' => '1', 'title' => 'Remit Agreement between Kumari Bank and I Pay', 'sub_title' => '', 'summary' => 'Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.', 'content' => '<p>April 21: Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.</p> <p>Rajib Giri Acting Chief Executive Officer of Kumari Bank and Indra Prasad Sharma, Executive Director of I Pay signed the agreement to this effect to extend remittance service throughout Nepal. </p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3220', 'image' => '20160421041234_20160421041133_KBL & I Pay -remit agreement- photo.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3382', 'article_category_id' => '1', 'title' => 'New Sony Center at Jawalakhel', 'sub_title' => '', 'summary' => 'April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.', 'content' => '<p>April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.</p> <p>“We are delighted to announce of yet another company-owned showroom at Jawalakhel to make the reach of customers towards genuine Sony products easily accessible,” informs the distributor in a press statement.</p> <p>The store offers all Sony product ranges available to the Nepali market. “One can look for the latest and a wide variety of Sony products in Sony Bravia TVs, Xperia smartphones, Alpha and CyberShot cameras, home theatre systems, personal entertainment and MDR series headphones,” reads the statement. According to the company, Sony centers are designed with separate sections dedicated to each product range where customers can have hands-on experience of the products.</p> <p>The company is offering additional special discounts on every purchase of Sony products from the showroom on the occasion of the opening.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3219', 'image' => '20160421040741_ina.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3381', 'article_category_id' => '1', 'title' => 'JICA Spends Rs 570 million in Reconstruction', 'sub_title' => '', 'summary' => 'April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.', 'content' => '<p style="text-align: justify;">April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.</p> <p style="text-align: justify;">“Under the immediate rescue and relief operations, construction of schools, repair of drinking water resources and supply system and development of agricultural centers has been conducted,” informs Ishaka Kaju, Convener of Reconstruction and Rehabilitations Program run by JICA. According to him, the money has been used in earthquake affected Lalitpur, Dhading, Nuwakot, Rasuwa, Gorkha and Makawanpur districts. JICA has planned to spend Rs 211.7 million as grants and Rs 11.85 billion as loans in association with The World Bank in the reconstruction and repair of schools in the affected districts.</p> <p style="text-align: justify;">Moreover, Rs 3 million has already been invested in the construction of school building in Dhadhing. Similarly, Rs 10 million has been used to repair pipelines in Sindhupalchowk. JICA in collaboration with The World Bank has already started a program to build residences of Rs 9.60 billion in earthquake affected districts by providing loan.</p> <p style="text-align: justify;"> JICA has organized trainings for the farmers in the affected regions under the program ‘Improving Livelihood.’ Similarly, the organisation is also planning to provide trainings on masonry to construct earthquake resistant homes. The Japanese agency has also been building schools, health organizations and buildings of government in the rural areas. As per JICA, all structures constructed under grants and loans will be earthquake resistant.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3218', 'image' => null, 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3379', 'article_category_id' => '1', 'title' => 'Acquisition Deal between TBDL and Kalinchowk Devt Bank ', 'sub_title' => '', 'summary' => 'A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.', 'content' => '<p>April 21: A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.</p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3216', 'image' => '20160421104433_20160421090021_bankmerge.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3378', 'article_category_id' => '1', 'title' => 'Global IME Opens New Representative Office in India ', 'sub_title' => '', 'summary' => 'April 21: Global IME Bank has formally inaugurated its Representative Office at New Delhi, India on April 20. Mr. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank and Mr. K.B. Pandit, General Manager of Reserve Bank of India jointly inaugurated the office amid a program yesterday. Mr. Chandra Prasad Dhakal, Chairman of the Bank, Mr. Anil Gyawali, CEO of the bank along with other delegates from the Nepalese Embassy in Delhi were also present in the program.', 'content' => '<p>Global IME Bank has formally opened its representative office in India. The new office located at Connaught Place of New Delhi was jointly inaugurated by Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit on April 20.</p> <p>According to a press statement by the bank, Chairman of Global IME Chandra Prasad Dhakal, CEO Anil Gyawali along with delegates from the Embassy of Nepal in Delhi were also present in the inauguration ceremony. “Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit congratulated Global IME for opening a representative office at India,” reads the statement. </p> <p>“Opening a representative office at India will be a support in export/import business, remittance and foreign investment,” said Global IME Chairman Chandra Prasad Dhakal.</p> <p>He also mentioned that Global IME Bank is the first commercial bank to open two representative offices in Australia and India. Dhakal also mentioned that, the bank is working to facilitate payment of bills at hospitals in India where Nepalis are facing difficulties at present. </p> <p>The bank’s CEO Anil Gyawali said that with the high presence of Nepali people residing in India, the new office will play a vital role in supporting remittance inflow from India through proper channel.</p> <p>Global IME Bank has been providing similar services from its first representative office in Sydney, Australia. The bank is in a process to take approval from few other countries to open representative office after attaining the approval from Nepal Rastra Bank.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3215', 'image' => '20160421103937_20160421085659_bank.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3377', 'article_category_id' => '1', 'title' => 'New Models of CG Fans in the Market', 'sub_title' => '', 'summary' => 'April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.', 'content' => '<p style="text-align: justify;">April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.</p> <p style="text-align: justify;">The fans have features like timer function, remote control, heavy round stand base, adjustable height and fully copper wire motor to ensure smooth functioning. “Every CG fan comes with one year warranty while the fans are shiny and glossy which looks very attractive,” says the company. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3214', 'image' => '20160420054222_fan.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3376', 'article_category_id' => '1', 'title' => 'RSON 2016 Adds Three New Centers', 'sub_title' => '', 'summary' => 'April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.', 'content' => '<p style="text-align: justify;">April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.</p> <p style="text-align: justify;">According to the Dabur Nepal, 2016 will be more competitive as the organiser has added three new centers Birtamode in east, Dhangadi in far west and Narayanghat in the central region. The organiser informs that all participating schools will compete in various activities like Extempore, Dance, Football Juggling for the Senior Category (Class 8,9,10) and Painting, 3 Minutes to Fame, Score the Real Goal for the Junior Category (Class 5,6,7). The judges for this event are going to be personalities from the related fields.</p> <p style="text-align: justify;">The winner will receive cash prizes and scholarship worth Rs 600,000 and Laptops. Besides that Real will provide two scholarships to the needy students who reside outside 7 valleys.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3213', 'image' => null, 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3375', 'article_category_id' => '1', 'title' => 'NRB and DCGC Sign MoU', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development.', 'content' => '<p>April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development. </p> <p>Shivanath Pandey, Executive Director at the NRB's Bank and Financial Institutions Regulatory Department and Dr Dandapani Poudel, DCGC General Manager signed the agreement in the presence of Baikuntha Nidhi Sharma, Under Secretary of Finance Ministry, the Corporation stated in a press release today. </p> <p>It is expected that the agreement will contribute towards maintaining fiscal stability in the country by preempting the banks and financial institutions from bankruptcy due to the difficult situation in the country and timely addressing the risk. RSS</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3212', 'image' => '20160420050011_nrb.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3374', 'article_category_id' => '1', 'title' => 'Standard Chartered Receives AGM Clearance', 'sub_title' => '', 'summary' => 'April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.', 'content' => '<p style="text-align: justify;">April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">“The bank has committed to increase the paid up capital by mid-July 2017, thus AGM needs not to postponed only because of cash dividend proposal,” says a NRB source. Previously, the central bank has directed commercial banks to raise their paid up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">NRB had postponed AGM of Standard Chartered citing that the amount of the proposed cash dividend is high. The bank had proposed 15 percent bonus and 27.11 percent cash dividend at the AGM on February 9. </p> <p style="text-align: justify;">For the second time, the bank had proposed 25 percent bonus share and 19.21 percent cash dividend on March 2. This time too, NRB disagreed to provide approval to AGM seeking commitment from the bank’s foreign partners in capital increment plan.</p> <p style="text-align: justify;">“Although all banks and financial institutions are equally treated, good institution should be given some preference,” says the source, adding, “NRB believes that a prestigious institution like Standard Chartered will stand on its commitment, thus the AGM clearance is granted.” NRB explains that the commitment of foreign partners holding 75 percent stake are treated as commitment of partners. According to the source, Standard Chartered has not chose merger option for capital increment but has planned to increase paid-up capital through the issuance of bonus and right shares.</p> <p style="text-align: justify;">“Cash dividend has not been completely forbidden, but cash dividend proposal of banks that are uncertain in increasing paid-up capitals will not be granted approval,” the source clarifies. NRB says that Standard Chartered has been exempted on the ground of commitment from foreign partners on increasing paid-up capital. NRB further explains that other joint venture banks will not given approval on cash dividend proposal as they might u-turned on paid-up capital increase plan at the last moment.</p> <p style="text-align: justify;">Foreign Investors prioritise cash dividend as it is an immediate return for them. Nepal is considered as risky region in terms of investment, thus foreign investors seek more return (cash dividend) here compared to other developed countries.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3211', 'image' => '20160420043237_sc2.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3373', 'article_category_id' => '1', 'title' => 'Handsets worth Rs 20 Million Sold at Lalitpur Mall Fair', 'sub_title' => '', 'summary' => 'April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.', 'content' => '<p>April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.</p> <p>Similarly, Nepal Dangol, Chairman of Lalitpur Mall said that the number of customers is increasing everyday as this Mela has been conducted differently than previous fairs. “This time the customers are purchasing equipments according to their interests,” he says. Although the majority of visitors are seen purchasing mobile phones, some are attracted towards health related services that offer whole body checkup and root canal treatment, according to Dangol. “By keeping the interests of customers in mind, we have organised a cultural program on Friday, the last day of the fair.”</p> <p>The Mela which is showcasing clothes, electronic equipments, mobile phones has offers such as up to 40 percent discount on purchase goods. Along with cash discounts, customers are also winning gift hampers through lucky draw.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3210', 'image' => '20160420034306_mobilie.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3372', 'article_category_id' => '1', 'title' => 'Remittance Grew by 15.2 % : NRB ', 'sub_title' => '', 'summary' => 'April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year. Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. ', 'content' => '<p style="text-align: justify;">April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year.</p> <p style="text-align: justify;">Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. </p> <p style="text-align: justify;">The report signifies that the number of workers going abroad for foreign employment, which directly affect the remittance, has decreased in the review period. The number of Nepalese workers seeking foreign employment, based on final approval for foreign employment, has decreased by 23.2 percent in the first eight months of 2015/16. It had increased by 17.1 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3209', 'image' => '20160420024819_remittance.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3371', 'article_category_id' => '1', 'title' => 'Merchandise Export Declines 24.9%, Import Drops 13.9 %', 'sub_title' => '', 'summary' => 'April 20: Recently published ‘Macroeconomic and Financial Situation of Nepal’ by Nepal Rastra Bank shows that in the eight months of 2015/16, merchandise exports has dropped by 24.9 percent to Rs. 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. NRB statistics reveals that exports to India has fallen by 34.5 percent, China by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheet, textiles, GI pipe, juice, among others to India; tanned skin, noodles, readymade garments, among others to China; and pulses, tanned skin, readymade leather goods, tea, among others to other countries decreased.', 'content' => '<p style="text-align:justify">April 20: Merchandise exports and imports have sharply dropped in the eight months of the current fiscal year, a new Nepal Rastra Bank (NRB) data shows. According to the recently published Macroeconomic and Financial Situation of Nepal, merchandise exports has dropped by 24.9 percent to Rs 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. The new NRB statistics reveals that exports to India has declined by 34.5 percent whereas, exports to China has decreased by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheets, textiles, GI pipes, juices, among others to India, tanned skin, noodles, readymade garments, among others to China and pulses, tanned skin, readymade leather goods and tea to other countries have declined.</p> <p style="text-align:justify"> Similarly, merchandise imports have dropped by 13.9 percent to Rs 435.80 billion in the review period as against a growth of 10.5 percent in the same period of the previous year. In the review period, imports from India have decreased by 19.3 percent, China by 2 percent and other countries by 6.1 percent. Commodity wise, import of petroleum products, MS billets, chemical fertilizers, machinery and parts from India have declined. Similarly, machinery and parts, electrical goods, medical equipments and parts, steel rod and sheet, among others from China have dropped. Likewise, silver, edible oil, crude palm oil, copper wire, among others from other countries have also decreased.</p> <p style="text-align:justify">Due to the decrease in exports and imports, trade deficit of the country has also contracted by 12.5 percent to Rs 393.07 billion in the review period compared to an expansion of 13.1 percent in the same period of the previous year. The export-import ratio has dropped to 9.8 percent in the review period from 11.2 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3208', 'image' => '20160420022314_foreign trade.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3370', 'article_category_id' => '1', 'title' => 'Inflation Fell to 10.2 % in Mid-March', 'sub_title' => '', 'summary' => 'April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.', 'content' => '<p style="text-align:justify">April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.</p> <p style="text-align:justify">Based on the eight months’ data of 2015/16, NRB statistics shows that food and beverage group inflation saw a pickup of 10.3 percent, non-food and services group inflation showed a growth of 10.2 percent in mid-March 2016.</p> <p style="text-align:justify">Food and beverage items such as pulses and legumes sub-group and ghee and oil subgroup saw a price rise of 31.6 percent and 18.8 percent respectively in the review period. Likewise, prices of spices sub-group and clothes and footwear sub-group saw a growth of 16.6 percent and 15.3 percent respectively. 8. Geographically, the Kathmandu Valley witnessed a relatively higher rate of inflation at 12.7 percent followed by Hilly region at 10.4 percent, Terai region at 8.6 percent and Mountain region at 8.5 percent in the review period. Last year, both the Kathmandu Valley and the Hilly region had seen the same inflation rate of 7.1 percent followed 6.9 percent in the Terai region.</p> <p style="text-align:justify">Likewise, the y-o-y wholesale price inflation rose 5.5 percent during the review period. It had seen the same percentage growth in the same period of the previous year. The wholesale price inflation of agricultural commodities and domestic manufactured commodities registered a growth of 9.1 percent and 6.3 percent respectively, whereas such inflation of imported commodities showed a decline of 2.8 percent in the review period. In the same period of the previous year, the increments in agricultural commodities and domestic manufactured commodities were 8.4 percent and 6 percent respectively whereas the price index of imported commodities had seen a decline of 0.8 percent.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3207', 'image' => '20160420015149_inflation.jpg', 'article_date' => '2016-04-20 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' => '3386', 'article_category_id' => '1', 'title' => 'Nabil Introduces 3 Schemes', 'sub_title' => '', 'summary' => 'April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.', 'content' => '<p style="text-align: justify;">April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.</p> <p style="text-align: justify;">Likewise, the bank has started new scheme focusing on share investors. In the new Share Account Service, investors will be able to get cash dividend and un-allotted IPO money directly into their accounts. Similarly, the bank has introduced Smart Bank Scheme, under which, customers can transfer money to any account of Nabil Bank and 34 other member banks in the E-Sewa Network. Customers can also use the service from the bank’s mobile app. </p> ', 'published' => true, 'created' => '2016-04-22', 'modified' => '2016-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '3223', 'image' => '20160422111750_20160422093517_nabil bank.jpg', 'article_date' => '2016-04-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3384', 'article_category_id' => '1', 'title' => 'NT Unveils Two-Year Action Plan', 'sub_title' => 'Aims 7.8 million New Customers', 'summary' => 'April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.', 'content' => '<p style="text-align: justify;">April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.</p> <p style="text-align: justify;">“The company aims to add 4 million GSM, 0.3 million CDMA, 3.5 million internet and 0.08 million PSTN customers within the next two years,” informs Acharya. As of mid-February, NT has a total of 14.06 million customers across various segments of its services. The company has 11.9 million customers of GSM, 1.47 million customers of CDMA, 0.667 million customers of PSTN and 7.16 million customers of internet.</p> <p style="text-align: justify;">“NT should move ahead as per the will of general public,” says Sherdhan Rai, Information and Communication Minister, in the public program organised to publish company’s two year action plan. He stressed that the company should establish itself as reliable service provider as per public’s will and demand through its service quality, effectiveness, segments of services and advanced technology. “Old methods cannot take the company ahead,” he opines, directing the employees to act responsible towards the organisation. “Action plan is not formulated to stay idle. Today’s requirement is to work as per will and emotions of public. It should not be taken as interference.”</p> <p style="text-align: justify;">Dinesh Kumar Thapaliya, Secretary of Information and Communication Ministry and Chairman of NT Board says that action plan is prepared in a bid to improve effectiveness of NT. He views that NT can take the number one spot if the company succeeds in following the action plan.</p> <p style="text-align: justify;">NT plans to systemise its income by facilitating payment of related charges/fees through credit card till the end of the current FY. The company also plans to increase its competency by managing various equipments around the Kathmandu Valley.</p> <p style="text-align: justify;">Company also aims to expand countrywide Wi-Fi services through Wimax technology from the next FY. Acharya informs that company is planning to start roaming service from mid-June in collaboration with foreign mobile service providers.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3221', 'image' => '20160421051513_Nepal_Telecom 2.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3383', 'article_category_id' => '1', 'title' => 'Remit Agreement between Kumari Bank and I Pay', 'sub_title' => '', 'summary' => 'Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.', 'content' => '<p>April 21: Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.</p> <p>Rajib Giri Acting Chief Executive Officer of Kumari Bank and Indra Prasad Sharma, Executive Director of I Pay signed the agreement to this effect to extend remittance service throughout Nepal. </p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3220', 'image' => '20160421041234_20160421041133_KBL & I Pay -remit agreement- photo.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3382', 'article_category_id' => '1', 'title' => 'New Sony Center at Jawalakhel', 'sub_title' => '', 'summary' => 'April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.', 'content' => '<p>April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.</p> <p>“We are delighted to announce of yet another company-owned showroom at Jawalakhel to make the reach of customers towards genuine Sony products easily accessible,” informs the distributor in a press statement.</p> <p>The store offers all Sony product ranges available to the Nepali market. “One can look for the latest and a wide variety of Sony products in Sony Bravia TVs, Xperia smartphones, Alpha and CyberShot cameras, home theatre systems, personal entertainment and MDR series headphones,” reads the statement. According to the company, Sony centers are designed with separate sections dedicated to each product range where customers can have hands-on experience of the products.</p> <p>The company is offering additional special discounts on every purchase of Sony products from the showroom on the occasion of the opening.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3219', 'image' => '20160421040741_ina.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3381', 'article_category_id' => '1', 'title' => 'JICA Spends Rs 570 million in Reconstruction', 'sub_title' => '', 'summary' => 'April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.', 'content' => '<p style="text-align: justify;">April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.</p> <p style="text-align: justify;">“Under the immediate rescue and relief operations, construction of schools, repair of drinking water resources and supply system and development of agricultural centers has been conducted,” informs Ishaka Kaju, Convener of Reconstruction and Rehabilitations Program run by JICA. According to him, the money has been used in earthquake affected Lalitpur, Dhading, Nuwakot, Rasuwa, Gorkha and Makawanpur districts. JICA has planned to spend Rs 211.7 million as grants and Rs 11.85 billion as loans in association with The World Bank in the reconstruction and repair of schools in the affected districts.</p> <p style="text-align: justify;">Moreover, Rs 3 million has already been invested in the construction of school building in Dhadhing. Similarly, Rs 10 million has been used to repair pipelines in Sindhupalchowk. JICA in collaboration with The World Bank has already started a program to build residences of Rs 9.60 billion in earthquake affected districts by providing loan.</p> <p style="text-align: justify;"> JICA has organized trainings for the farmers in the affected regions under the program ‘Improving Livelihood.’ Similarly, the organisation is also planning to provide trainings on masonry to construct earthquake resistant homes. The Japanese agency has also been building schools, health organizations and buildings of government in the rural areas. As per JICA, all structures constructed under grants and loans will be earthquake resistant.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3218', 'image' => null, 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3379', 'article_category_id' => '1', 'title' => 'Acquisition Deal between TBDL and Kalinchowk Devt Bank ', 'sub_title' => '', 'summary' => 'A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.', 'content' => '<p>April 21: A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.</p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3216', 'image' => '20160421104433_20160421090021_bankmerge.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3378', 'article_category_id' => '1', 'title' => 'Global IME Opens New Representative Office in India ', 'sub_title' => '', 'summary' => 'April 21: Global IME Bank has formally inaugurated its Representative Office at New Delhi, India on April 20. Mr. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank and Mr. K.B. Pandit, General Manager of Reserve Bank of India jointly inaugurated the office amid a program yesterday. Mr. Chandra Prasad Dhakal, Chairman of the Bank, Mr. Anil Gyawali, CEO of the bank along with other delegates from the Nepalese Embassy in Delhi were also present in the program.', 'content' => '<p>Global IME Bank has formally opened its representative office in India. The new office located at Connaught Place of New Delhi was jointly inaugurated by Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit on April 20.</p> <p>According to a press statement by the bank, Chairman of Global IME Chandra Prasad Dhakal, CEO Anil Gyawali along with delegates from the Embassy of Nepal in Delhi were also present in the inauguration ceremony. “Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit congratulated Global IME for opening a representative office at India,” reads the statement. </p> <p>“Opening a representative office at India will be a support in export/import business, remittance and foreign investment,” said Global IME Chairman Chandra Prasad Dhakal.</p> <p>He also mentioned that Global IME Bank is the first commercial bank to open two representative offices in Australia and India. Dhakal also mentioned that, the bank is working to facilitate payment of bills at hospitals in India where Nepalis are facing difficulties at present. </p> <p>The bank’s CEO Anil Gyawali said that with the high presence of Nepali people residing in India, the new office will play a vital role in supporting remittance inflow from India through proper channel.</p> <p>Global IME Bank has been providing similar services from its first representative office in Sydney, Australia. The bank is in a process to take approval from few other countries to open representative office after attaining the approval from Nepal Rastra Bank.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3215', 'image' => '20160421103937_20160421085659_bank.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3377', 'article_category_id' => '1', 'title' => 'New Models of CG Fans in the Market', 'sub_title' => '', 'summary' => 'April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.', 'content' => '<p style="text-align: justify;">April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.</p> <p style="text-align: justify;">The fans have features like timer function, remote control, heavy round stand base, adjustable height and fully copper wire motor to ensure smooth functioning. “Every CG fan comes with one year warranty while the fans are shiny and glossy which looks very attractive,” says the company. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3214', 'image' => '20160420054222_fan.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3376', 'article_category_id' => '1', 'title' => 'RSON 2016 Adds Three New Centers', 'sub_title' => '', 'summary' => 'April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.', 'content' => '<p style="text-align: justify;">April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.</p> <p style="text-align: justify;">According to the Dabur Nepal, 2016 will be more competitive as the organiser has added three new centers Birtamode in east, Dhangadi in far west and Narayanghat in the central region. The organiser informs that all participating schools will compete in various activities like Extempore, Dance, Football Juggling for the Senior Category (Class 8,9,10) and Painting, 3 Minutes to Fame, Score the Real Goal for the Junior Category (Class 5,6,7). The judges for this event are going to be personalities from the related fields.</p> <p style="text-align: justify;">The winner will receive cash prizes and scholarship worth Rs 600,000 and Laptops. Besides that Real will provide two scholarships to the needy students who reside outside 7 valleys.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3213', 'image' => null, 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3375', 'article_category_id' => '1', 'title' => 'NRB and DCGC Sign MoU', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development.', 'content' => '<p>April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development. </p> <p>Shivanath Pandey, Executive Director at the NRB's Bank and Financial Institutions Regulatory Department and Dr Dandapani Poudel, DCGC General Manager signed the agreement in the presence of Baikuntha Nidhi Sharma, Under Secretary of Finance Ministry, the Corporation stated in a press release today. </p> <p>It is expected that the agreement will contribute towards maintaining fiscal stability in the country by preempting the banks and financial institutions from bankruptcy due to the difficult situation in the country and timely addressing the risk. RSS</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3212', 'image' => '20160420050011_nrb.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3374', 'article_category_id' => '1', 'title' => 'Standard Chartered Receives AGM Clearance', 'sub_title' => '', 'summary' => 'April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.', 'content' => '<p style="text-align: justify;">April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">“The bank has committed to increase the paid up capital by mid-July 2017, thus AGM needs not to postponed only because of cash dividend proposal,” says a NRB source. Previously, the central bank has directed commercial banks to raise their paid up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">NRB had postponed AGM of Standard Chartered citing that the amount of the proposed cash dividend is high. The bank had proposed 15 percent bonus and 27.11 percent cash dividend at the AGM on February 9. </p> <p style="text-align: justify;">For the second time, the bank had proposed 25 percent bonus share and 19.21 percent cash dividend on March 2. This time too, NRB disagreed to provide approval to AGM seeking commitment from the bank’s foreign partners in capital increment plan.</p> <p style="text-align: justify;">“Although all banks and financial institutions are equally treated, good institution should be given some preference,” says the source, adding, “NRB believes that a prestigious institution like Standard Chartered will stand on its commitment, thus the AGM clearance is granted.” NRB explains that the commitment of foreign partners holding 75 percent stake are treated as commitment of partners. According to the source, Standard Chartered has not chose merger option for capital increment but has planned to increase paid-up capital through the issuance of bonus and right shares.</p> <p style="text-align: justify;">“Cash dividend has not been completely forbidden, but cash dividend proposal of banks that are uncertain in increasing paid-up capitals will not be granted approval,” the source clarifies. NRB says that Standard Chartered has been exempted on the ground of commitment from foreign partners on increasing paid-up capital. NRB further explains that other joint venture banks will not given approval on cash dividend proposal as they might u-turned on paid-up capital increase plan at the last moment.</p> <p style="text-align: justify;">Foreign Investors prioritise cash dividend as it is an immediate return for them. Nepal is considered as risky region in terms of investment, thus foreign investors seek more return (cash dividend) here compared to other developed countries.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3211', 'image' => '20160420043237_sc2.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3373', 'article_category_id' => '1', 'title' => 'Handsets worth Rs 20 Million Sold at Lalitpur Mall Fair', 'sub_title' => '', 'summary' => 'April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.', 'content' => '<p>April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.</p> <p>Similarly, Nepal Dangol, Chairman of Lalitpur Mall said that the number of customers is increasing everyday as this Mela has been conducted differently than previous fairs. “This time the customers are purchasing equipments according to their interests,” he says. Although the majority of visitors are seen purchasing mobile phones, some are attracted towards health related services that offer whole body checkup and root canal treatment, according to Dangol. “By keeping the interests of customers in mind, we have organised a cultural program on Friday, the last day of the fair.”</p> <p>The Mela which is showcasing clothes, electronic equipments, mobile phones has offers such as up to 40 percent discount on purchase goods. Along with cash discounts, customers are also winning gift hampers through lucky draw.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3210', 'image' => '20160420034306_mobilie.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3372', 'article_category_id' => '1', 'title' => 'Remittance Grew by 15.2 % : NRB ', 'sub_title' => '', 'summary' => 'April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year. Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. ', 'content' => '<p style="text-align: justify;">April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year.</p> <p style="text-align: justify;">Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. </p> <p style="text-align: justify;">The report signifies that the number of workers going abroad for foreign employment, which directly affect the remittance, has decreased in the review period. The number of Nepalese workers seeking foreign employment, based on final approval for foreign employment, has decreased by 23.2 percent in the first eight months of 2015/16. It had increased by 17.1 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3209', 'image' => '20160420024819_remittance.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3371', 'article_category_id' => '1', 'title' => 'Merchandise Export Declines 24.9%, Import Drops 13.9 %', 'sub_title' => '', 'summary' => 'April 20: Recently published ‘Macroeconomic and Financial Situation of Nepal’ by Nepal Rastra Bank shows that in the eight months of 2015/16, merchandise exports has dropped by 24.9 percent to Rs. 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. NRB statistics reveals that exports to India has fallen by 34.5 percent, China by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheet, textiles, GI pipe, juice, among others to India; tanned skin, noodles, readymade garments, among others to China; and pulses, tanned skin, readymade leather goods, tea, among others to other countries decreased.', 'content' => '<p style="text-align:justify">April 20: Merchandise exports and imports have sharply dropped in the eight months of the current fiscal year, a new Nepal Rastra Bank (NRB) data shows. According to the recently published Macroeconomic and Financial Situation of Nepal, merchandise exports has dropped by 24.9 percent to Rs 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. The new NRB statistics reveals that exports to India has declined by 34.5 percent whereas, exports to China has decreased by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheets, textiles, GI pipes, juices, among others to India, tanned skin, noodles, readymade garments, among others to China and pulses, tanned skin, readymade leather goods and tea to other countries have declined.</p> <p style="text-align:justify"> Similarly, merchandise imports have dropped by 13.9 percent to Rs 435.80 billion in the review period as against a growth of 10.5 percent in the same period of the previous year. In the review period, imports from India have decreased by 19.3 percent, China by 2 percent and other countries by 6.1 percent. Commodity wise, import of petroleum products, MS billets, chemical fertilizers, machinery and parts from India have declined. Similarly, machinery and parts, electrical goods, medical equipments and parts, steel rod and sheet, among others from China have dropped. Likewise, silver, edible oil, crude palm oil, copper wire, among others from other countries have also decreased.</p> <p style="text-align:justify">Due to the decrease in exports and imports, trade deficit of the country has also contracted by 12.5 percent to Rs 393.07 billion in the review period compared to an expansion of 13.1 percent in the same period of the previous year. The export-import ratio has dropped to 9.8 percent in the review period from 11.2 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3208', 'image' => '20160420022314_foreign trade.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3370', 'article_category_id' => '1', 'title' => 'Inflation Fell to 10.2 % in Mid-March', 'sub_title' => '', 'summary' => 'April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.', 'content' => '<p style="text-align:justify">April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.</p> <p style="text-align:justify">Based on the eight months’ data of 2015/16, NRB statistics shows that food and beverage group inflation saw a pickup of 10.3 percent, non-food and services group inflation showed a growth of 10.2 percent in mid-March 2016.</p> <p style="text-align:justify">Food and beverage items such as pulses and legumes sub-group and ghee and oil subgroup saw a price rise of 31.6 percent and 18.8 percent respectively in the review period. Likewise, prices of spices sub-group and clothes and footwear sub-group saw a growth of 16.6 percent and 15.3 percent respectively. 8. Geographically, the Kathmandu Valley witnessed a relatively higher rate of inflation at 12.7 percent followed by Hilly region at 10.4 percent, Terai region at 8.6 percent and Mountain region at 8.5 percent in the review period. Last year, both the Kathmandu Valley and the Hilly region had seen the same inflation rate of 7.1 percent followed 6.9 percent in the Terai region.</p> <p style="text-align:justify">Likewise, the y-o-y wholesale price inflation rose 5.5 percent during the review period. It had seen the same percentage growth in the same period of the previous year. The wholesale price inflation of agricultural commodities and domestic manufactured commodities registered a growth of 9.1 percent and 6.3 percent respectively, whereas such inflation of imported commodities showed a decline of 2.8 percent in the review period. In the same period of the previous year, the increments in agricultural commodities and domestic manufactured commodities were 8.4 percent and 6 percent respectively whereas the price index of imported commodities had seen a decline of 0.8 percent.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3207', 'image' => '20160420015149_inflation.jpg', 'article_date' => '2016-04-20 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' => '3386', 'article_category_id' => '1', 'title' => 'Nabil Introduces 3 Schemes', 'sub_title' => '', 'summary' => 'April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.', 'content' => '<p style="text-align: justify;">April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.</p> <p style="text-align: justify;">Likewise, the bank has started new scheme focusing on share investors. In the new Share Account Service, investors will be able to get cash dividend and un-allotted IPO money directly into their accounts. Similarly, the bank has introduced Smart Bank Scheme, under which, customers can transfer money to any account of Nabil Bank and 34 other member banks in the E-Sewa Network. Customers can also use the service from the bank’s mobile app. </p> ', 'published' => true, 'created' => '2016-04-22', 'modified' => '2016-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '3223', 'image' => '20160422111750_20160422093517_nabil bank.jpg', 'article_date' => '2016-04-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3384', 'article_category_id' => '1', 'title' => 'NT Unveils Two-Year Action Plan', 'sub_title' => 'Aims 7.8 million New Customers', 'summary' => 'April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.', 'content' => '<p style="text-align: justify;">April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.</p> <p style="text-align: justify;">“The company aims to add 4 million GSM, 0.3 million CDMA, 3.5 million internet and 0.08 million PSTN customers within the next two years,” informs Acharya. As of mid-February, NT has a total of 14.06 million customers across various segments of its services. The company has 11.9 million customers of GSM, 1.47 million customers of CDMA, 0.667 million customers of PSTN and 7.16 million customers of internet.</p> <p style="text-align: justify;">“NT should move ahead as per the will of general public,” says Sherdhan Rai, Information and Communication Minister, in the public program organised to publish company’s two year action plan. He stressed that the company should establish itself as reliable service provider as per public’s will and demand through its service quality, effectiveness, segments of services and advanced technology. “Old methods cannot take the company ahead,” he opines, directing the employees to act responsible towards the organisation. “Action plan is not formulated to stay idle. Today’s requirement is to work as per will and emotions of public. It should not be taken as interference.”</p> <p style="text-align: justify;">Dinesh Kumar Thapaliya, Secretary of Information and Communication Ministry and Chairman of NT Board says that action plan is prepared in a bid to improve effectiveness of NT. He views that NT can take the number one spot if the company succeeds in following the action plan.</p> <p style="text-align: justify;">NT plans to systemise its income by facilitating payment of related charges/fees through credit card till the end of the current FY. The company also plans to increase its competency by managing various equipments around the Kathmandu Valley.</p> <p style="text-align: justify;">Company also aims to expand countrywide Wi-Fi services through Wimax technology from the next FY. Acharya informs that company is planning to start roaming service from mid-June in collaboration with foreign mobile service providers.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3221', 'image' => '20160421051513_Nepal_Telecom 2.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3383', 'article_category_id' => '1', 'title' => 'Remit Agreement between Kumari Bank and I Pay', 'sub_title' => '', 'summary' => 'Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.', 'content' => '<p>April 21: Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.</p> <p>Rajib Giri Acting Chief Executive Officer of Kumari Bank and Indra Prasad Sharma, Executive Director of I Pay signed the agreement to this effect to extend remittance service throughout Nepal. </p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3220', 'image' => '20160421041234_20160421041133_KBL & I Pay -remit agreement- photo.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3382', 'article_category_id' => '1', 'title' => 'New Sony Center at Jawalakhel', 'sub_title' => '', 'summary' => 'April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.', 'content' => '<p>April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.</p> <p>“We are delighted to announce of yet another company-owned showroom at Jawalakhel to make the reach of customers towards genuine Sony products easily accessible,” informs the distributor in a press statement.</p> <p>The store offers all Sony product ranges available to the Nepali market. “One can look for the latest and a wide variety of Sony products in Sony Bravia TVs, Xperia smartphones, Alpha and CyberShot cameras, home theatre systems, personal entertainment and MDR series headphones,” reads the statement. According to the company, Sony centers are designed with separate sections dedicated to each product range where customers can have hands-on experience of the products.</p> <p>The company is offering additional special discounts on every purchase of Sony products from the showroom on the occasion of the opening.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3219', 'image' => '20160421040741_ina.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3381', 'article_category_id' => '1', 'title' => 'JICA Spends Rs 570 million in Reconstruction', 'sub_title' => '', 'summary' => 'April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.', 'content' => '<p style="text-align: justify;">April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.</p> <p style="text-align: justify;">“Under the immediate rescue and relief operations, construction of schools, repair of drinking water resources and supply system and development of agricultural centers has been conducted,” informs Ishaka Kaju, Convener of Reconstruction and Rehabilitations Program run by JICA. According to him, the money has been used in earthquake affected Lalitpur, Dhading, Nuwakot, Rasuwa, Gorkha and Makawanpur districts. JICA has planned to spend Rs 211.7 million as grants and Rs 11.85 billion as loans in association with The World Bank in the reconstruction and repair of schools in the affected districts.</p> <p style="text-align: justify;">Moreover, Rs 3 million has already been invested in the construction of school building in Dhadhing. Similarly, Rs 10 million has been used to repair pipelines in Sindhupalchowk. JICA in collaboration with The World Bank has already started a program to build residences of Rs 9.60 billion in earthquake affected districts by providing loan.</p> <p style="text-align: justify;"> JICA has organized trainings for the farmers in the affected regions under the program ‘Improving Livelihood.’ Similarly, the organisation is also planning to provide trainings on masonry to construct earthquake resistant homes. The Japanese agency has also been building schools, health organizations and buildings of government in the rural areas. As per JICA, all structures constructed under grants and loans will be earthquake resistant.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3218', 'image' => null, 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3379', 'article_category_id' => '1', 'title' => 'Acquisition Deal between TBDL and Kalinchowk Devt Bank ', 'sub_title' => '', 'summary' => 'A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.', 'content' => '<p>April 21: A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.</p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3216', 'image' => '20160421104433_20160421090021_bankmerge.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3378', 'article_category_id' => '1', 'title' => 'Global IME Opens New Representative Office in India ', 'sub_title' => '', 'summary' => 'April 21: Global IME Bank has formally inaugurated its Representative Office at New Delhi, India on April 20. Mr. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank and Mr. K.B. Pandit, General Manager of Reserve Bank of India jointly inaugurated the office amid a program yesterday. Mr. Chandra Prasad Dhakal, Chairman of the Bank, Mr. Anil Gyawali, CEO of the bank along with other delegates from the Nepalese Embassy in Delhi were also present in the program.', 'content' => '<p>Global IME Bank has formally opened its representative office in India. The new office located at Connaught Place of New Delhi was jointly inaugurated by Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit on April 20.</p> <p>According to a press statement by the bank, Chairman of Global IME Chandra Prasad Dhakal, CEO Anil Gyawali along with delegates from the Embassy of Nepal in Delhi were also present in the inauguration ceremony. “Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit congratulated Global IME for opening a representative office at India,” reads the statement. </p> <p>“Opening a representative office at India will be a support in export/import business, remittance and foreign investment,” said Global IME Chairman Chandra Prasad Dhakal.</p> <p>He also mentioned that Global IME Bank is the first commercial bank to open two representative offices in Australia and India. Dhakal also mentioned that, the bank is working to facilitate payment of bills at hospitals in India where Nepalis are facing difficulties at present. </p> <p>The bank’s CEO Anil Gyawali said that with the high presence of Nepali people residing in India, the new office will play a vital role in supporting remittance inflow from India through proper channel.</p> <p>Global IME Bank has been providing similar services from its first representative office in Sydney, Australia. The bank is in a process to take approval from few other countries to open representative office after attaining the approval from Nepal Rastra Bank.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3215', 'image' => '20160421103937_20160421085659_bank.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3377', 'article_category_id' => '1', 'title' => 'New Models of CG Fans in the Market', 'sub_title' => '', 'summary' => 'April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.', 'content' => '<p style="text-align: justify;">April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.</p> <p style="text-align: justify;">The fans have features like timer function, remote control, heavy round stand base, adjustable height and fully copper wire motor to ensure smooth functioning. “Every CG fan comes with one year warranty while the fans are shiny and glossy which looks very attractive,” says the company. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3214', 'image' => '20160420054222_fan.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3376', 'article_category_id' => '1', 'title' => 'RSON 2016 Adds Three New Centers', 'sub_title' => '', 'summary' => 'April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.', 'content' => '<p style="text-align: justify;">April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.</p> <p style="text-align: justify;">According to the Dabur Nepal, 2016 will be more competitive as the organiser has added three new centers Birtamode in east, Dhangadi in far west and Narayanghat in the central region. The organiser informs that all participating schools will compete in various activities like Extempore, Dance, Football Juggling for the Senior Category (Class 8,9,10) and Painting, 3 Minutes to Fame, Score the Real Goal for the Junior Category (Class 5,6,7). The judges for this event are going to be personalities from the related fields.</p> <p style="text-align: justify;">The winner will receive cash prizes and scholarship worth Rs 600,000 and Laptops. Besides that Real will provide two scholarships to the needy students who reside outside 7 valleys.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3213', 'image' => null, 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3375', 'article_category_id' => '1', 'title' => 'NRB and DCGC Sign MoU', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development.', 'content' => '<p>April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development. </p> <p>Shivanath Pandey, Executive Director at the NRB's Bank and Financial Institutions Regulatory Department and Dr Dandapani Poudel, DCGC General Manager signed the agreement in the presence of Baikuntha Nidhi Sharma, Under Secretary of Finance Ministry, the Corporation stated in a press release today. </p> <p>It is expected that the agreement will contribute towards maintaining fiscal stability in the country by preempting the banks and financial institutions from bankruptcy due to the difficult situation in the country and timely addressing the risk. RSS</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3212', 'image' => '20160420050011_nrb.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3374', 'article_category_id' => '1', 'title' => 'Standard Chartered Receives AGM Clearance', 'sub_title' => '', 'summary' => 'April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.', 'content' => '<p style="text-align: justify;">April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">“The bank has committed to increase the paid up capital by mid-July 2017, thus AGM needs not to postponed only because of cash dividend proposal,” says a NRB source. Previously, the central bank has directed commercial banks to raise their paid up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">NRB had postponed AGM of Standard Chartered citing that the amount of the proposed cash dividend is high. The bank had proposed 15 percent bonus and 27.11 percent cash dividend at the AGM on February 9. </p> <p style="text-align: justify;">For the second time, the bank had proposed 25 percent bonus share and 19.21 percent cash dividend on March 2. This time too, NRB disagreed to provide approval to AGM seeking commitment from the bank’s foreign partners in capital increment plan.</p> <p style="text-align: justify;">“Although all banks and financial institutions are equally treated, good institution should be given some preference,” says the source, adding, “NRB believes that a prestigious institution like Standard Chartered will stand on its commitment, thus the AGM clearance is granted.” NRB explains that the commitment of foreign partners holding 75 percent stake are treated as commitment of partners. According to the source, Standard Chartered has not chose merger option for capital increment but has planned to increase paid-up capital through the issuance of bonus and right shares.</p> <p style="text-align: justify;">“Cash dividend has not been completely forbidden, but cash dividend proposal of banks that are uncertain in increasing paid-up capitals will not be granted approval,” the source clarifies. NRB says that Standard Chartered has been exempted on the ground of commitment from foreign partners on increasing paid-up capital. NRB further explains that other joint venture banks will not given approval on cash dividend proposal as they might u-turned on paid-up capital increase plan at the last moment.</p> <p style="text-align: justify;">Foreign Investors prioritise cash dividend as it is an immediate return for them. Nepal is considered as risky region in terms of investment, thus foreign investors seek more return (cash dividend) here compared to other developed countries.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3211', 'image' => '20160420043237_sc2.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3373', 'article_category_id' => '1', 'title' => 'Handsets worth Rs 20 Million Sold at Lalitpur Mall Fair', 'sub_title' => '', 'summary' => 'April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.', 'content' => '<p>April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.</p> <p>Similarly, Nepal Dangol, Chairman of Lalitpur Mall said that the number of customers is increasing everyday as this Mela has been conducted differently than previous fairs. “This time the customers are purchasing equipments according to their interests,” he says. Although the majority of visitors are seen purchasing mobile phones, some are attracted towards health related services that offer whole body checkup and root canal treatment, according to Dangol. “By keeping the interests of customers in mind, we have organised a cultural program on Friday, the last day of the fair.”</p> <p>The Mela which is showcasing clothes, electronic equipments, mobile phones has offers such as up to 40 percent discount on purchase goods. Along with cash discounts, customers are also winning gift hampers through lucky draw.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3210', 'image' => '20160420034306_mobilie.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3372', 'article_category_id' => '1', 'title' => 'Remittance Grew by 15.2 % : NRB ', 'sub_title' => '', 'summary' => 'April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year. Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. ', 'content' => '<p style="text-align: justify;">April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year.</p> <p style="text-align: justify;">Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. </p> <p style="text-align: justify;">The report signifies that the number of workers going abroad for foreign employment, which directly affect the remittance, has decreased in the review period. The number of Nepalese workers seeking foreign employment, based on final approval for foreign employment, has decreased by 23.2 percent in the first eight months of 2015/16. It had increased by 17.1 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3209', 'image' => '20160420024819_remittance.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3371', 'article_category_id' => '1', 'title' => 'Merchandise Export Declines 24.9%, Import Drops 13.9 %', 'sub_title' => '', 'summary' => 'April 20: Recently published ‘Macroeconomic and Financial Situation of Nepal’ by Nepal Rastra Bank shows that in the eight months of 2015/16, merchandise exports has dropped by 24.9 percent to Rs. 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. NRB statistics reveals that exports to India has fallen by 34.5 percent, China by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheet, textiles, GI pipe, juice, among others to India; tanned skin, noodles, readymade garments, among others to China; and pulses, tanned skin, readymade leather goods, tea, among others to other countries decreased.', 'content' => '<p style="text-align:justify">April 20: Merchandise exports and imports have sharply dropped in the eight months of the current fiscal year, a new Nepal Rastra Bank (NRB) data shows. According to the recently published Macroeconomic and Financial Situation of Nepal, merchandise exports has dropped by 24.9 percent to Rs 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. The new NRB statistics reveals that exports to India has declined by 34.5 percent whereas, exports to China has decreased by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheets, textiles, GI pipes, juices, among others to India, tanned skin, noodles, readymade garments, among others to China and pulses, tanned skin, readymade leather goods and tea to other countries have declined.</p> <p style="text-align:justify"> Similarly, merchandise imports have dropped by 13.9 percent to Rs 435.80 billion in the review period as against a growth of 10.5 percent in the same period of the previous year. In the review period, imports from India have decreased by 19.3 percent, China by 2 percent and other countries by 6.1 percent. Commodity wise, import of petroleum products, MS billets, chemical fertilizers, machinery and parts from India have declined. Similarly, machinery and parts, electrical goods, medical equipments and parts, steel rod and sheet, among others from China have dropped. Likewise, silver, edible oil, crude palm oil, copper wire, among others from other countries have also decreased.</p> <p style="text-align:justify">Due to the decrease in exports and imports, trade deficit of the country has also contracted by 12.5 percent to Rs 393.07 billion in the review period compared to an expansion of 13.1 percent in the same period of the previous year. The export-import ratio has dropped to 9.8 percent in the review period from 11.2 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3208', 'image' => '20160420022314_foreign trade.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3370', 'article_category_id' => '1', 'title' => 'Inflation Fell to 10.2 % in Mid-March', 'sub_title' => '', 'summary' => 'April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.', 'content' => '<p style="text-align:justify">April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.</p> <p style="text-align:justify">Based on the eight months’ data of 2015/16, NRB statistics shows that food and beverage group inflation saw a pickup of 10.3 percent, non-food and services group inflation showed a growth of 10.2 percent in mid-March 2016.</p> <p style="text-align:justify">Food and beverage items such as pulses and legumes sub-group and ghee and oil subgroup saw a price rise of 31.6 percent and 18.8 percent respectively in the review period. Likewise, prices of spices sub-group and clothes and footwear sub-group saw a growth of 16.6 percent and 15.3 percent respectively. 8. Geographically, the Kathmandu Valley witnessed a relatively higher rate of inflation at 12.7 percent followed by Hilly region at 10.4 percent, Terai region at 8.6 percent and Mountain region at 8.5 percent in the review period. Last year, both the Kathmandu Valley and the Hilly region had seen the same inflation rate of 7.1 percent followed 6.9 percent in the Terai region.</p> <p style="text-align:justify">Likewise, the y-o-y wholesale price inflation rose 5.5 percent during the review period. It had seen the same percentage growth in the same period of the previous year. The wholesale price inflation of agricultural commodities and domestic manufactured commodities registered a growth of 9.1 percent and 6.3 percent respectively, whereas such inflation of imported commodities showed a decline of 2.8 percent in the review period. In the same period of the previous year, the increments in agricultural commodities and domestic manufactured commodities were 8.4 percent and 6 percent respectively whereas the price index of imported commodities had seen a decline of 0.8 percent.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3207', 'image' => '20160420015149_inflation.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.', 'content' => '<p style="text-align: justify;">April 22: Nabil Bank has unveiled three new schemes on Thursday. For the first time, the bank will provide loan on share collateral. The bank has informed that 7.99 percent interest rate will be charged on collateral of D-matted shares. According to the bank, it will provide loan quickly with ease as per the scheme.</p> <p style="text-align: justify;">Likewise, the bank has started new scheme focusing on share investors. In the new Share Account Service, investors will be able to get cash dividend and un-allotted IPO money directly into their accounts. Similarly, the bank has introduced Smart Bank Scheme, under which, customers can transfer money to any account of Nabil Bank and 34 other member banks in the E-Sewa Network. Customers can also use the service from the bank’s mobile app. </p> ', 'published' => true, 'created' => '2016-04-22', 'modified' => '2016-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '3223', 'image' => '20160422111750_20160422093517_nabil bank.jpg', 'article_date' => '2016-04-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3384', 'article_category_id' => '1', 'title' => 'NT Unveils Two-Year Action Plan', 'sub_title' => 'Aims 7.8 million New Customers', 'summary' => 'April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.', 'content' => '<p style="text-align: justify;">April 21: The state-owned Nepal Telecom (NT) has aimed to increase 7.887 million new customers in next two years. Buddhi Prasad Acharya, Managing Director of NT revealed the goal while presenting two year action plan in a program held at central office of NT on Wednesday. He said that the action plan has been prepared in a bid to make the telecom service provider systematic, effective, qualitative and accessible.</p> <p style="text-align: justify;">“The company aims to add 4 million GSM, 0.3 million CDMA, 3.5 million internet and 0.08 million PSTN customers within the next two years,” informs Acharya. As of mid-February, NT has a total of 14.06 million customers across various segments of its services. The company has 11.9 million customers of GSM, 1.47 million customers of CDMA, 0.667 million customers of PSTN and 7.16 million customers of internet.</p> <p style="text-align: justify;">“NT should move ahead as per the will of general public,” says Sherdhan Rai, Information and Communication Minister, in the public program organised to publish company’s two year action plan. He stressed that the company should establish itself as reliable service provider as per public’s will and demand through its service quality, effectiveness, segments of services and advanced technology. “Old methods cannot take the company ahead,” he opines, directing the employees to act responsible towards the organisation. “Action plan is not formulated to stay idle. Today’s requirement is to work as per will and emotions of public. It should not be taken as interference.”</p> <p style="text-align: justify;">Dinesh Kumar Thapaliya, Secretary of Information and Communication Ministry and Chairman of NT Board says that action plan is prepared in a bid to improve effectiveness of NT. He views that NT can take the number one spot if the company succeeds in following the action plan.</p> <p style="text-align: justify;">NT plans to systemise its income by facilitating payment of related charges/fees through credit card till the end of the current FY. The company also plans to increase its competency by managing various equipments around the Kathmandu Valley.</p> <p style="text-align: justify;">Company also aims to expand countrywide Wi-Fi services through Wimax technology from the next FY. Acharya informs that company is planning to start roaming service from mid-June in collaboration with foreign mobile service providers.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3221', 'image' => '20160421051513_Nepal_Telecom 2.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3383', 'article_category_id' => '1', 'title' => 'Remit Agreement between Kumari Bank and I Pay', 'sub_title' => '', 'summary' => 'Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.', 'content' => '<p>April 21: Kumari Bank and I Pay Reliable Remittance have signed an agreement to provide worldwide remittance service. As per the agreement, the bank makes payment to its customers through its more than one thousand Kumari remit agents after receiving fund from I Pay.</p> <p>Rajib Giri Acting Chief Executive Officer of Kumari Bank and Indra Prasad Sharma, Executive Director of I Pay signed the agreement to this effect to extend remittance service throughout Nepal. </p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3220', 'image' => '20160421041234_20160421041133_KBL & I Pay -remit agreement- photo.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3382', 'article_category_id' => '1', 'title' => 'New Sony Center at Jawalakhel', 'sub_title' => '', 'summary' => 'April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.', 'content' => '<p>April 21: Nepa Hima Trade Link, the authorized distributor of Sony for Nepal has opened a new Sony showroom at Jawalakhel. The showroom was inaugurated by Masaki Matsumae, President of Sony’s Regional Market Development Centre, Singapore on April 21.</p> <p>“We are delighted to announce of yet another company-owned showroom at Jawalakhel to make the reach of customers towards genuine Sony products easily accessible,” informs the distributor in a press statement.</p> <p>The store offers all Sony product ranges available to the Nepali market. “One can look for the latest and a wide variety of Sony products in Sony Bravia TVs, Xperia smartphones, Alpha and CyberShot cameras, home theatre systems, personal entertainment and MDR series headphones,” reads the statement. According to the company, Sony centers are designed with separate sections dedicated to each product range where customers can have hands-on experience of the products.</p> <p>The company is offering additional special discounts on every purchase of Sony products from the showroom on the occasion of the opening.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3219', 'image' => '20160421040741_ina.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3381', 'article_category_id' => '1', 'title' => 'JICA Spends Rs 570 million in Reconstruction', 'sub_title' => '', 'summary' => 'April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.', 'content' => '<p style="text-align: justify;">April 21: Japan International Cooperation Agency (JICA) has spent Rs 477.4 million in the immediate rescue and relief operations after the devastating earthquake of April 2015. The Government of Japan had announced an aid of Rs 2.6 billion for the reconstruction process after the earthquake, of which the above sum has been utilized.</p> <p style="text-align: justify;">“Under the immediate rescue and relief operations, construction of schools, repair of drinking water resources and supply system and development of agricultural centers has been conducted,” informs Ishaka Kaju, Convener of Reconstruction and Rehabilitations Program run by JICA. According to him, the money has been used in earthquake affected Lalitpur, Dhading, Nuwakot, Rasuwa, Gorkha and Makawanpur districts. JICA has planned to spend Rs 211.7 million as grants and Rs 11.85 billion as loans in association with The World Bank in the reconstruction and repair of schools in the affected districts.</p> <p style="text-align: justify;">Moreover, Rs 3 million has already been invested in the construction of school building in Dhadhing. Similarly, Rs 10 million has been used to repair pipelines in Sindhupalchowk. JICA in collaboration with The World Bank has already started a program to build residences of Rs 9.60 billion in earthquake affected districts by providing loan.</p> <p style="text-align: justify;"> JICA has organized trainings for the farmers in the affected regions under the program ‘Improving Livelihood.’ Similarly, the organisation is also planning to provide trainings on masonry to construct earthquake resistant homes. The Japanese agency has also been building schools, health organizations and buildings of government in the rural areas. As per JICA, all structures constructed under grants and loans will be earthquake resistant.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3218', 'image' => null, 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3379', 'article_category_id' => '1', 'title' => 'Acquisition Deal between TBDL and Kalinchowk Devt Bank ', 'sub_title' => '', 'summary' => 'A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.', 'content' => '<p>April 21: A Tourism Development Bank Limited (TDBL) has signed a memorandum of understanding (MOU) for the acquisition process Kalinchowk Development Bank. Pro Dr Puspa Raj Kandel, Chairman of TDBL and Bal Krishna Siwakoti, Chairman of Kalinchowk Development Bank signed the agreement on April 20. “Tourism Development Bank has already started acquisition process of Matribhumi Development Bank after signing the MOU with the bank,” informs TBDL in a press statement.</p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3216', 'image' => '20160421104433_20160421090021_bankmerge.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3378', 'article_category_id' => '1', 'title' => 'Global IME Opens New Representative Office in India ', 'sub_title' => '', 'summary' => 'April 21: Global IME Bank has formally inaugurated its Representative Office at New Delhi, India on April 20. Mr. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank and Mr. K.B. Pandit, General Manager of Reserve Bank of India jointly inaugurated the office amid a program yesterday. Mr. Chandra Prasad Dhakal, Chairman of the Bank, Mr. Anil Gyawali, CEO of the bank along with other delegates from the Nepalese Embassy in Delhi were also present in the program.', 'content' => '<p>Global IME Bank has formally opened its representative office in India. The new office located at Connaught Place of New Delhi was jointly inaugurated by Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit on April 20.</p> <p>According to a press statement by the bank, Chairman of Global IME Chandra Prasad Dhakal, CEO Anil Gyawali along with delegates from the Embassy of Nepal in Delhi were also present in the inauguration ceremony. “Executive Director of Nepal Rastra Bank Narayan Prasad Poudel and General Manager of Reserve Bank of India KB Pandit congratulated Global IME for opening a representative office at India,” reads the statement. </p> <p>“Opening a representative office at India will be a support in export/import business, remittance and foreign investment,” said Global IME Chairman Chandra Prasad Dhakal.</p> <p>He also mentioned that Global IME Bank is the first commercial bank to open two representative offices in Australia and India. Dhakal also mentioned that, the bank is working to facilitate payment of bills at hospitals in India where Nepalis are facing difficulties at present. </p> <p>The bank’s CEO Anil Gyawali said that with the high presence of Nepali people residing in India, the new office will play a vital role in supporting remittance inflow from India through proper channel.</p> <p>Global IME Bank has been providing similar services from its first representative office in Sydney, Australia. The bank is in a process to take approval from few other countries to open representative office after attaining the approval from Nepal Rastra Bank.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-21', 'modified' => '2016-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '3215', 'image' => '20160421103937_20160421085659_bank.jpg', 'article_date' => '2016-04-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3377', 'article_category_id' => '1', 'title' => 'New Models of CG Fans in the Market', 'sub_title' => '', 'summary' => 'April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.', 'content' => '<p style="text-align: justify;">April 20: CG Electronics has launched a wide range of CG fans in the Nepali market. According to the company, 18 models of fans are available from all categories such as stand fan, ceiling fan, table fan and wall fan. “CG fans offers customers a unique mobility and independence in receiving quality breeze in every corner of the house,” informs the company in a press release.</p> <p style="text-align: justify;">The fans have features like timer function, remote control, heavy round stand base, adjustable height and fully copper wire motor to ensure smooth functioning. “Every CG fan comes with one year warranty while the fans are shiny and glossy which looks very attractive,” says the company. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3214', 'image' => '20160420054222_fan.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3376', 'article_category_id' => '1', 'title' => 'RSON 2016 Adds Three New Centers', 'sub_title' => '', 'summary' => 'April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.', 'content' => '<p style="text-align: justify;">April 20: Real Fruit Juice has announced Real School of Nepal 2016. It is a national level inter-school competition which has been carried out annually for the last four years. Schools from across Nepal compete with each other to win the title.</p> <p style="text-align: justify;">According to the Dabur Nepal, 2016 will be more competitive as the organiser has added three new centers Birtamode in east, Dhangadi in far west and Narayanghat in the central region. The organiser informs that all participating schools will compete in various activities like Extempore, Dance, Football Juggling for the Senior Category (Class 8,9,10) and Painting, 3 Minutes to Fame, Score the Real Goal for the Junior Category (Class 5,6,7). The judges for this event are going to be personalities from the related fields.</p> <p style="text-align: justify;">The winner will receive cash prizes and scholarship worth Rs 600,000 and Laptops. Besides that Real will provide two scholarships to the needy students who reside outside 7 valleys.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3213', 'image' => null, 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3375', 'article_category_id' => '1', 'title' => 'NRB and DCGC Sign MoU', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development.', 'content' => '<p>April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development. </p> <p>Shivanath Pandey, Executive Director at the NRB's Bank and Financial Institutions Regulatory Department and Dr Dandapani Poudel, DCGC General Manager signed the agreement in the presence of Baikuntha Nidhi Sharma, Under Secretary of Finance Ministry, the Corporation stated in a press release today. </p> <p>It is expected that the agreement will contribute towards maintaining fiscal stability in the country by preempting the banks and financial institutions from bankruptcy due to the difficult situation in the country and timely addressing the risk. RSS</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3212', 'image' => '20160420050011_nrb.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3374', 'article_category_id' => '1', 'title' => 'Standard Chartered Receives AGM Clearance', 'sub_title' => '', 'summary' => 'April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.', 'content' => '<p style="text-align: justify;">April 20: Standard Chartered Bank, a foreign joint venture bank, has submitted its plan to increase its paid- up capital to Rs 8 billion as per the directive of Nepal Rastra Bank (NRB) even after distributing cash dividend. The central bank has received AGM Clearance by NRB after it committed increasing paid-up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">“The bank has committed to increase the paid up capital by mid-July 2017, thus AGM needs not to postponed only because of cash dividend proposal,” says a NRB source. Previously, the central bank has directed commercial banks to raise their paid up capital to Rs 8 billion by mid-July 2017.</p> <p style="text-align: justify;">NRB had postponed AGM of Standard Chartered citing that the amount of the proposed cash dividend is high. The bank had proposed 15 percent bonus and 27.11 percent cash dividend at the AGM on February 9. </p> <p style="text-align: justify;">For the second time, the bank had proposed 25 percent bonus share and 19.21 percent cash dividend on March 2. This time too, NRB disagreed to provide approval to AGM seeking commitment from the bank’s foreign partners in capital increment plan.</p> <p style="text-align: justify;">“Although all banks and financial institutions are equally treated, good institution should be given some preference,” says the source, adding, “NRB believes that a prestigious institution like Standard Chartered will stand on its commitment, thus the AGM clearance is granted.” NRB explains that the commitment of foreign partners holding 75 percent stake are treated as commitment of partners. According to the source, Standard Chartered has not chose merger option for capital increment but has planned to increase paid-up capital through the issuance of bonus and right shares.</p> <p style="text-align: justify;">“Cash dividend has not been completely forbidden, but cash dividend proposal of banks that are uncertain in increasing paid-up capitals will not be granted approval,” the source clarifies. NRB says that Standard Chartered has been exempted on the ground of commitment from foreign partners on increasing paid-up capital. NRB further explains that other joint venture banks will not given approval on cash dividend proposal as they might u-turned on paid-up capital increase plan at the last moment.</p> <p style="text-align: justify;">Foreign Investors prioritise cash dividend as it is an immediate return for them. Nepal is considered as risky region in terms of investment, thus foreign investors seek more return (cash dividend) here compared to other developed countries.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3211', 'image' => '20160420043237_sc2.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3373', 'article_category_id' => '1', 'title' => 'Handsets worth Rs 20 Million Sold at Lalitpur Mall Fair', 'sub_title' => '', 'summary' => 'April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.', 'content' => '<p>April 20: The ongoing New Year 2073 Mela has attracted large number of mobile phone buyers. According to the organisers, handsets worth Rs 20 million have been sold till date at the fair which started on Baisakh 1 at the Lalitpur Complex. “The Mela which has been observed by more than 100,000 visitors made business worth 20 million by Tuesday,” informs Pursottam Basnet, Chairman of the complex. “Customers are buying smartphones priced at Rs 15,000 and above. Attraction is being seen towards brands such as Samsung and Huawei.” He informs that 95 percent smartphones have been sold.</p> <p>Similarly, Nepal Dangol, Chairman of Lalitpur Mall said that the number of customers is increasing everyday as this Mela has been conducted differently than previous fairs. “This time the customers are purchasing equipments according to their interests,” he says. Although the majority of visitors are seen purchasing mobile phones, some are attracted towards health related services that offer whole body checkup and root canal treatment, according to Dangol. “By keeping the interests of customers in mind, we have organised a cultural program on Friday, the last day of the fair.”</p> <p>The Mela which is showcasing clothes, electronic equipments, mobile phones has offers such as up to 40 percent discount on purchase goods. Along with cash discounts, customers are also winning gift hampers through lucky draw.</p> <p> </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3210', 'image' => '20160420034306_mobilie.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3372', 'article_category_id' => '1', 'title' => 'Remittance Grew by 15.2 % : NRB ', 'sub_title' => '', 'summary' => 'April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year. Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. ', 'content' => '<p style="text-align: justify;">April 20: The ‘Current Macroeconomic and Financial Situation of Nepal’, a NRB researched report, based on eight months data of 2015/16, shows that the remittances send by Nepali workers working aboard has grown by 15.2 percent to Rs. 427.37 billion in the review period compared to a growth of 4 percent in the previous year.</p> <p style="text-align: justify;">Consequently, net transfer receipt has increased by 19 percent to Rs. 500.60 billion in the review period. Such receipt had increased by 1.3 percent in the same period of the previous year. </p> <p style="text-align: justify;">The report signifies that the number of workers going abroad for foreign employment, which directly affect the remittance, has decreased in the review period. The number of Nepalese workers seeking foreign employment, based on final approval for foreign employment, has decreased by 23.2 percent in the first eight months of 2015/16. It had increased by 17.1 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3209', 'image' => '20160420024819_remittance.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3371', 'article_category_id' => '1', 'title' => 'Merchandise Export Declines 24.9%, Import Drops 13.9 %', 'sub_title' => '', 'summary' => 'April 20: Recently published ‘Macroeconomic and Financial Situation of Nepal’ by Nepal Rastra Bank shows that in the eight months of 2015/16, merchandise exports has dropped by 24.9 percent to Rs. 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. NRB statistics reveals that exports to India has fallen by 34.5 percent, China by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheet, textiles, GI pipe, juice, among others to India; tanned skin, noodles, readymade garments, among others to China; and pulses, tanned skin, readymade leather goods, tea, among others to other countries decreased.', 'content' => '<p style="text-align:justify">April 20: Merchandise exports and imports have sharply dropped in the eight months of the current fiscal year, a new Nepal Rastra Bank (NRB) data shows. According to the recently published Macroeconomic and Financial Situation of Nepal, merchandise exports has dropped by 24.9 percent to Rs 42.73 billion compared to a drop of 6.6 percent in the same period of the previous year. The new NRB statistics reveals that exports to India has declined by 34.5 percent whereas, exports to China has decreased by 45.9 percent and other countries by 3.7 percent in the review period. Commodity wise, export of zinc sheets, textiles, GI pipes, juices, among others to India, tanned skin, noodles, readymade garments, among others to China and pulses, tanned skin, readymade leather goods and tea to other countries have declined.</p> <p style="text-align:justify"> Similarly, merchandise imports have dropped by 13.9 percent to Rs 435.80 billion in the review period as against a growth of 10.5 percent in the same period of the previous year. In the review period, imports from India have decreased by 19.3 percent, China by 2 percent and other countries by 6.1 percent. Commodity wise, import of petroleum products, MS billets, chemical fertilizers, machinery and parts from India have declined. Similarly, machinery and parts, electrical goods, medical equipments and parts, steel rod and sheet, among others from China have dropped. Likewise, silver, edible oil, crude palm oil, copper wire, among others from other countries have also decreased.</p> <p style="text-align:justify">Due to the decrease in exports and imports, trade deficit of the country has also contracted by 12.5 percent to Rs 393.07 billion in the review period compared to an expansion of 13.1 percent in the same period of the previous year. The export-import ratio has dropped to 9.8 percent in the review period from 11.2 percent in the same period of the previous year. </p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3208', 'image' => '20160420022314_foreign trade.jpg', 'article_date' => '2016-04-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3370', 'article_category_id' => '1', 'title' => 'Inflation Fell to 10.2 % in Mid-March', 'sub_title' => '', 'summary' => 'April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.', 'content' => '<p style="text-align:justify">April 20: As per the current ‘Macroeconomic and Financial Situation of Nepal’ published by Nepal Rastra Bank (NRB), the consumer price inflation has moderated fell to 10.2 percent in mid-March 2016 from the peak of 12.1 percent in mid-January 2016. NRB illustrate that consumer price inflation continued to show a glide path since mid-January-2016 on account of improved supply of fuel and other consumable items following the return of normalcy in the southern customs points.</p> <p style="text-align:justify">Based on the eight months’ data of 2015/16, NRB statistics shows that food and beverage group inflation saw a pickup of 10.3 percent, non-food and services group inflation showed a growth of 10.2 percent in mid-March 2016.</p> <p style="text-align:justify">Food and beverage items such as pulses and legumes sub-group and ghee and oil subgroup saw a price rise of 31.6 percent and 18.8 percent respectively in the review period. Likewise, prices of spices sub-group and clothes and footwear sub-group saw a growth of 16.6 percent and 15.3 percent respectively. 8. Geographically, the Kathmandu Valley witnessed a relatively higher rate of inflation at 12.7 percent followed by Hilly region at 10.4 percent, Terai region at 8.6 percent and Mountain region at 8.5 percent in the review period. Last year, both the Kathmandu Valley and the Hilly region had seen the same inflation rate of 7.1 percent followed 6.9 percent in the Terai region.</p> <p style="text-align:justify">Likewise, the y-o-y wholesale price inflation rose 5.5 percent during the review period. It had seen the same percentage growth in the same period of the previous year. The wholesale price inflation of agricultural commodities and domestic manufactured commodities registered a growth of 9.1 percent and 6.3 percent respectively, whereas such inflation of imported commodities showed a decline of 2.8 percent in the review period. In the same period of the previous year, the increments in agricultural commodities and domestic manufactured commodities were 8.4 percent and 6 percent respectively whereas the price index of imported commodities had seen a decline of 0.8 percent.</p> ', 'published' => true, 'created' => '2016-04-20', 'modified' => '2016-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '3207', 'image' => '20160420015149_inflation.jpg', 'article_date' => '2016-04-20 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
