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Code Context
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			'id' => '3317',
			'article_category_id' => '1',
			'title' => 'Bhaktapur Finance and Central Finance to Merge',
			'sub_title' => '',
			'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.  Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.',
			'content' => '<p>April 12:<strong>&nbsp;</strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.&nbsp; Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p>
',
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			'id' => '3316',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom’s New Year Offer',
			'sub_title' => '',
			'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.',
			'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p>

<p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p>
',
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			'sortorder' => '3154',
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			'id' => '3315',
			'article_category_id' => '1',
			'title' => 'Nepal Bank and NIDC to Merge',
			'sub_title' => '',
			'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.                ',
			'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp; &nbsp;&nbsp;</p>
',
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			'sortorder' => '3153',
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			'id' => '3314',
			'article_category_id' => '1',
			'title' => 'Gurkha Development Bank Downgraded',
			'sub_title' => '',
			'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.',
			'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The &lsquo;B&rsquo; level Gurkha Development bank has become &lsquo;C&rsquo; level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p>

<p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p>

<p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank&rsquo;s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p>

<p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p>

<p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p>

<p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance.&nbsp;</p>
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		'Article' => array(
			'id' => '3313',
			'article_category_id' => '1',
			'title' => 'EBL Calendar 2073 Unveiled',
			'sub_title' => '',
			'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ',
			'content' => '<p style="text-align: justify;">April 12:&nbsp;Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar.&nbsp;</p>

<p style="text-align: justify;">During the program, Secretary Rai appreciated the bank&rsquo;s efforts to promote culture and tourism of the country. &ldquo;Others should take this initiative as an example,&rdquo; he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p>

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

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

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3151',
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			'id' => '3312',
			'article_category_id' => '1',
			'title' => '“Govt Ready to Address Problems of Private Sector”',
			'sub_title' => '',
			'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.',
			'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government&rsquo;s willingness to support the private sector. The minister duo reiterated the government&rsquo;s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p>

<p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p>

<p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI.&nbsp;</p>

<p>&ldquo;Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,&rdquo; he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries.&nbsp;</p>

<p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers&rsquo; Ministry.</p>

<p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p>

<p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers&rsquo; right protection and maintaining an effective supply system. &ldquo;We have started the process of expanding fuel storage capacity,&rdquo; he informed. &ldquo;Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,&rdquo; he mentioned. &nbsp;Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. &ldquo;Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.&rdquo;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '3311',
			'article_category_id' => '1',
			'title' => 'Micromax Launches Canvas Q327 ',
			'sub_title' => '',
			'summary' => 'April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system.',
			'content' => '<p>April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system. &nbsp;Similarly, the phone sports a 4 inch WVGA screen, 5 MP primary camera and 1.3 MP rear camera. Canvas Q327 comes with a micro SD card slot which can be used to expand its storage upto 32 GB ,8 GB ROM and 1450 mAh battery. Q327 also supports 3G. The phone is priced &nbsp;Rs 6,193 in the domestic market.</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-04-14',
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			'sortorder' => '3149',
			'image' => '20160412125631_fdsf.jpg',
			'article_date' => '2016-04-12 00:00:00',
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		'Article' => array(
			'id' => '3310',
			'article_category_id' => '1',
			'title' => 'Api to Distribute Right Shares',
			'sub_title' => '',
			'summary' => 'A special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country’s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.',
			'content' => '<p style="text-align:justify">April 11: Special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country&rsquo;s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.</p>

<p style="text-align:justify">The company has completed the construction of 8.5 MW <em>Naugarh</em>&nbsp;Gad&nbsp;<em>Small</em> Hydroelectric&nbsp;<em>Project</em>. The company in a press statement informed that the capital collected from the issuance of right shares will be utilise to construct a 75 MW hydropower project on Trishuli river.</p>
',
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			'sortorder' => '3148',
			'image' => '20160411060330_api.jpg',
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		'Article' => array(
			'id' => '3309',
			'article_category_id' => '1',
			'title' => 'WB Cautions South Asia on Fading Tailwinds',
			'sub_title' => '',
			'summary' => 'Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. “The region’s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,” reads the report.',
			'content' => '<p style="text-align: justify;">Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. &ldquo;The region&rsquo;s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,&rdquo; reads the report.</p>

<p style="text-align: justify;">Nevertheless, the bank also cautions South Asian nation of fading tailwinds of the global economy. &ldquo;Capital flows to the region have declined and remittances from oil exporting countries have started to weaken,&rdquo; mentions the bank. &ldquo;Fuel and food prices remain low but are unlikely to keep falling. As a result overall output growth is slower than previously anticipated and inflation has recently been creeping up.&rdquo;</p>

<p style="text-align: justify;">&ldquo;South Asia has been resilient to global turbulence due to its limited exposure to slowdowns in other major economies coupled with the tailwinds of favorable oil prices, capital flows, and remittances,&rdquo; said Annette Dixon, World Bank South Asia Vice President. &ldquo;However, fiscal and financial vulnerabilities remain and countries should strive to address them through generating revenue and creating more fiscal space.&rdquo;</p>

<p style="text-align: justify;">Many South Asian countries show potential for accelerated growth in the short to medium term, according to the report. &ldquo;However, they should expect a more difficult global environment demanding well-managed domestic economies,&rdquo; says the report. Given its weight in the region, India sets the pace for South Asia as a whole. The bank forecasts economic activity of India to accelerate from 7.5 percent in FY2016 to 7.7 percent in FY2017 based on the expectation of strong private investment, a push in infrastructure spending, an improved investment climate, and deleveraged corporate and financial balance sheets. The bank estimates the Nepali economy to grow by 1.7 percent in 2016 compared to 3.4 percent in 2015. The lower growth prospect is attributed to the last year&rsquo;s earthquake followed by cross-border trade disruptions, as per the bank. &ldquo;Disruptions increased inflation to double digits, affecting the welfare of the poor and vulnerable, while reducing revenue collection and slowing reconstruction efforts,&rdquo; the report mentions. &nbsp;Nevertheless, the bank expects the situation to normalised by the end of 2016, leading to strong rebound in 2017 with GDP expected to grow by 5.8 percent.</p>

<p style="text-align: justify;">Similarly, the report forecasts Pakistan&rsquo;s economic growth to accelerate modestly from 4.5 percent in 2016 to 4.8 percent in 2017 while Sri Lanka is expected to grow by 5.3 percent in both 2016 and 2017. The bank projects economic growth of Bangladesh to be 6.3 percent in 2016 and 6.8 percent in 2017 whereas, it forecasts Bhutan&rsquo;s growth to be 6.7 percent in 2016 and 6.8 percent in 2017. Meanwhile, Maldives is expected to achieve GDP growth of 3.5 percent in 2016 and 3.9 percent in 2017.&nbsp; Likewise, the bank estimates Afghanistan&rsquo;s growth to increase marginally from 1.9 percent in 2016 to 2.9 percent in 2017.&nbsp;</p>

<p style="text-align: justify;">The report&rsquo;s analysis of fiscal policy across the region suggests that governments need to find a balanced path towards fiscal consolidation. &ldquo;Fiscal policy has a wide range of impacts for development. The fiscal deficit affects macroeconomic stability, capital expenditures are needed for growth, and taxes and social spending matter for equity,&rdquo; said World Bank South Asia Chief Economist Martin Rama. &ldquo;With the currently low oil prices, this is also an opportune time for South Asian policy makers to introduce or expand explicit carbon taxes. This would improve environmental and fiscal sustainability at the same time.&rdquo;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'id' => '3308',
			'article_category_id' => '1',
			'title' => 'Karki Elected New NEFFA President',
			'sub_title' => '',
			'summary' => 'April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). "The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki," informs the association issuing a press statement. ',
			'content' => '<p>April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). &quot;The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki,&quot; informs the association issuing a press statement. According to NEFFA, the executive committee also unanimously elected Manoj Adhikari as First Vice-President, Rajendra Sangraula as Second Vice-President, Sundar Prasad Dahal as Secretary General and Naresh Kumar Agrawal as Treasurer.</p>

<p>&nbsp;</p>
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			'title' => 'New ADBL Branch in Rupandehi',
			'sub_title' => '',
			'summary' => 'April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL’s Bhairahawa Regional Office. ',
			'content' => '<p>April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL&rsquo;s Bhairahawa Regional Office. CEO Sitaula also launched the Core Banking System in various branches of Majhgawan and Sidharthanagaralong with the bank&rsquo;s Western Regional Training Center.</p>

<p>Speaking in the program, CEO Situala said, &quot;With the history of 49 years operation, the bank aims to expand its service with modern banking system.&quot; According to him, the bank has invested 31 percent of its total investment in the agriculture sector. He had also mentioned that the new branches are focusing on increasing financial literacy of the customers.</p>
',
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			'id' => '3306',
			'article_category_id' => '1',
			'title' => 'Kumari Bank’s Blood Donation Program',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year.',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>

<p>&nbsp;</p>
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			'sortorder' => '3144',
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			'id' => '3305',
			'article_category_id' => '1',
			'title' => 'FNCCI Golden Jubilee 1966-2016 : Common Agenda for Economic Development: FNCCI',
			'sub_title' => '',
			'summary' => 'The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization's golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI ',
			'content' => '<p>The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization&#39;s golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI President Pashupati Murarka requested the government to move ahead for the country&rsquo;s economic development with common economic agenda while facing the existing challenges.</p>

<p>Prime Minister KP Sharma Oli unveiled the federation&rsquo;s golden jubilee logo and FNCCI mobile app which include all the information about the organisation. &ldquo;Weak economic growth, less employment opportunities, increasing trade deficit, deepening energy crisis, unequal development, lack of infrastructures, rising social insecurity, weak administrative system are the main challenges for the economic development,&rdquo; said Murarka, adding, &ldquo;As soon as the government changes, the economic policies and bureaucracy also get changed which create obstacle in the development. We need to put an end to this system.&rdquo;</p>

<p>He said that, due to the political differences, construction of Kathmandu-Terai Fast Track road, regional and international airports, mega hydropower projects, major infrastructure projects and projects of national pride are not being implemented &ldquo;The government and political parties need to assure that the policies would not be changed for at least 10-15 years, whichever party comes to the power.&rdquo;&nbsp;</p>

<p>Addressing the program, PM KP Sharma Oli said, &ldquo;The political struggle has finished, and now it&rsquo;s time for the economic development and prosperity.&rdquo; The prime minister felicitated FNCCI&rsquo;s staffs, member institutions and other affiliated organizations at the program. Similarly, Society of Economic Journalists-Nepal (SEJON) too was felicitated with cash prize and a letter of appreciation for its contribution in the field economic journalism. &nbsp; &nbsp; &nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Yeti Devt Bank Provides Scholarship ',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. ',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>
',
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			'keywords' => '',
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			'sortorder' => '3142',
			'image' => '20160411022659_Clipboard12.jpg',
			'article_date' => '2016-04-11 00:00:00',
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		'Article' => array(
			'id' => '3302',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Provides Homes for Quake Victims',
			'sub_title' => '',
			'summary' => 'April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 “transitional homes.',
			'content' => '<p>April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 &ldquo;transitional homes.&rdquo; Binod Chaudhary, President of the Chaudhary Foundation urged the government and concerned authorities to secure homes for earthquake victims before monsoon. &ldquo;The government, private sector and donor agencies should concentrate on the management of minimum shelter for earthquake victims,&rdquo; he said, adding, &ldquo;Effective coordination is necessary for the purpose.&rdquo; The shelters were built under the CG Shelter Project. The foundation has already constructed around 2,500 shelters till date.</p>

<p>The foundation distributed the houses as per its commitment of building transitional homes. Earlier, it has distributed CG shelters in Bhimtaar of Sindhupalchowk, and Mahadevsthan and Dolalghat of Kavre. The foundation also informed that shelters will be handed to the earthquake affected in various areas of Sindhupalchowk, Ramechap, Dolkha, Gorkha, Dhadhing including other districts.</p>
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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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '3317',
			'article_category_id' => '1',
			'title' => 'Bhaktapur Finance and Central Finance to Merge',
			'sub_title' => '',
			'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.  Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.',
			'content' => '<p>April 12:<strong>&nbsp;</strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.&nbsp; Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p>
',
			'published' => true,
			'created' => '2016-04-12',
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			'sortorder' => '3155',
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			'article_date' => '2016-04-12 00:00:00',
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			'id' => '3316',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom’s New Year Offer',
			'sub_title' => '',
			'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.',
			'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p>

<p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p>
',
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			'sortorder' => '3154',
			'image' => '20160412044208_tele.jpg',
			'article_date' => '2016-04-12 00:00:00',
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			'id' => '3315',
			'article_category_id' => '1',
			'title' => 'Nepal Bank and NIDC to Merge',
			'sub_title' => '',
			'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.                ',
			'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp; &nbsp;&nbsp;</p>
',
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			'sortorder' => '3153',
			'image' => '20160412043651_nepal bank.jpg',
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			'id' => '3314',
			'article_category_id' => '1',
			'title' => 'Gurkha Development Bank Downgraded',
			'sub_title' => '',
			'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.',
			'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The &lsquo;B&rsquo; level Gurkha Development bank has become &lsquo;C&rsquo; level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p>

<p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p>

<p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank&rsquo;s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p>

<p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p>

<p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p>

<p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance.&nbsp;</p>
',
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			'modified' => '2016-04-12',
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			'sortorder' => '3152',
			'image' => '20160412043134_gurkham.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '3313',
			'article_category_id' => '1',
			'title' => 'EBL Calendar 2073 Unveiled',
			'sub_title' => '',
			'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ',
			'content' => '<p style="text-align: justify;">April 12:&nbsp;Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar.&nbsp;</p>

<p style="text-align: justify;">During the program, Secretary Rai appreciated the bank&rsquo;s efforts to promote culture and tourism of the country. &ldquo;Others should take this initiative as an example,&rdquo; he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p>

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

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

<p style="text-align: justify;">&nbsp;</p>
',
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			'modified' => '2016-04-12',
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			'sortorder' => '3151',
			'image' => '20160412034123_ebl.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '3312',
			'article_category_id' => '1',
			'title' => '“Govt Ready to Address Problems of Private Sector”',
			'sub_title' => '',
			'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.',
			'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government&rsquo;s willingness to support the private sector. The minister duo reiterated the government&rsquo;s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p>

<p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p>

<p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI.&nbsp;</p>

<p>&ldquo;Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,&rdquo; he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries.&nbsp;</p>

<p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers&rsquo; Ministry.</p>

<p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p>

<p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers&rsquo; right protection and maintaining an effective supply system. &ldquo;We have started the process of expanding fuel storage capacity,&rdquo; he informed. &ldquo;Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,&rdquo; he mentioned. &nbsp;Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. &ldquo;Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.&rdquo;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '3311',
			'article_category_id' => '1',
			'title' => 'Micromax Launches Canvas Q327 ',
			'sub_title' => '',
			'summary' => 'April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system.',
			'content' => '<p>April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system. &nbsp;Similarly, the phone sports a 4 inch WVGA screen, 5 MP primary camera and 1.3 MP rear camera. Canvas Q327 comes with a micro SD card slot which can be used to expand its storage upto 32 GB ,8 GB ROM and 1450 mAh battery. Q327 also supports 3G. The phone is priced &nbsp;Rs 6,193 in the domestic market.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-14',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3149',
			'image' => '20160412125631_fdsf.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '3310',
			'article_category_id' => '1',
			'title' => 'Api to Distribute Right Shares',
			'sub_title' => '',
			'summary' => 'A special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country’s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.',
			'content' => '<p style="text-align:justify">April 11: Special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country&rsquo;s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.</p>

<p style="text-align:justify">The company has completed the construction of 8.5 MW <em>Naugarh</em>&nbsp;Gad&nbsp;<em>Small</em> Hydroelectric&nbsp;<em>Project</em>. The company in a press statement informed that the capital collected from the issuance of right shares will be utilise to construct a 75 MW hydropower project on Trishuli river.</p>
',
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			'created' => '2016-04-11',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3148',
			'image' => '20160411060330_api.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '3309',
			'article_category_id' => '1',
			'title' => 'WB Cautions South Asia on Fading Tailwinds',
			'sub_title' => '',
			'summary' => 'Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. “The region’s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,” reads the report.',
			'content' => '<p style="text-align: justify;">Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. &ldquo;The region&rsquo;s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,&rdquo; reads the report.</p>

<p style="text-align: justify;">Nevertheless, the bank also cautions South Asian nation of fading tailwinds of the global economy. &ldquo;Capital flows to the region have declined and remittances from oil exporting countries have started to weaken,&rdquo; mentions the bank. &ldquo;Fuel and food prices remain low but are unlikely to keep falling. As a result overall output growth is slower than previously anticipated and inflation has recently been creeping up.&rdquo;</p>

<p style="text-align: justify;">&ldquo;South Asia has been resilient to global turbulence due to its limited exposure to slowdowns in other major economies coupled with the tailwinds of favorable oil prices, capital flows, and remittances,&rdquo; said Annette Dixon, World Bank South Asia Vice President. &ldquo;However, fiscal and financial vulnerabilities remain and countries should strive to address them through generating revenue and creating more fiscal space.&rdquo;</p>

<p style="text-align: justify;">Many South Asian countries show potential for accelerated growth in the short to medium term, according to the report. &ldquo;However, they should expect a more difficult global environment demanding well-managed domestic economies,&rdquo; says the report. Given its weight in the region, India sets the pace for South Asia as a whole. The bank forecasts economic activity of India to accelerate from 7.5 percent in FY2016 to 7.7 percent in FY2017 based on the expectation of strong private investment, a push in infrastructure spending, an improved investment climate, and deleveraged corporate and financial balance sheets. The bank estimates the Nepali economy to grow by 1.7 percent in 2016 compared to 3.4 percent in 2015. The lower growth prospect is attributed to the last year&rsquo;s earthquake followed by cross-border trade disruptions, as per the bank. &ldquo;Disruptions increased inflation to double digits, affecting the welfare of the poor and vulnerable, while reducing revenue collection and slowing reconstruction efforts,&rdquo; the report mentions. &nbsp;Nevertheless, the bank expects the situation to normalised by the end of 2016, leading to strong rebound in 2017 with GDP expected to grow by 5.8 percent.</p>

<p style="text-align: justify;">Similarly, the report forecasts Pakistan&rsquo;s economic growth to accelerate modestly from 4.5 percent in 2016 to 4.8 percent in 2017 while Sri Lanka is expected to grow by 5.3 percent in both 2016 and 2017. The bank projects economic growth of Bangladesh to be 6.3 percent in 2016 and 6.8 percent in 2017 whereas, it forecasts Bhutan&rsquo;s growth to be 6.7 percent in 2016 and 6.8 percent in 2017. Meanwhile, Maldives is expected to achieve GDP growth of 3.5 percent in 2016 and 3.9 percent in 2017.&nbsp; Likewise, the bank estimates Afghanistan&rsquo;s growth to increase marginally from 1.9 percent in 2016 to 2.9 percent in 2017.&nbsp;</p>

<p style="text-align: justify;">The report&rsquo;s analysis of fiscal policy across the region suggests that governments need to find a balanced path towards fiscal consolidation. &ldquo;Fiscal policy has a wide range of impacts for development. The fiscal deficit affects macroeconomic stability, capital expenditures are needed for growth, and taxes and social spending matter for equity,&rdquo; said World Bank South Asia Chief Economist Martin Rama. &ldquo;With the currently low oil prices, this is also an opportune time for South Asian policy makers to introduce or expand explicit carbon taxes. This would improve environmental and fiscal sustainability at the same time.&rdquo;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '3308',
			'article_category_id' => '1',
			'title' => 'Karki Elected New NEFFA President',
			'sub_title' => '',
			'summary' => 'April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). "The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki," informs the association issuing a press statement. ',
			'content' => '<p>April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). &quot;The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki,&quot; informs the association issuing a press statement. According to NEFFA, the executive committee also unanimously elected Manoj Adhikari as First Vice-President, Rajendra Sangraula as Second Vice-President, Sundar Prasad Dahal as Secretary General and Naresh Kumar Agrawal as Treasurer.</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-04-11',
			'keywords' => '',
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	(int) 10 => array(
		'Article' => array(
			'id' => '3307',
			'article_category_id' => '1',
			'title' => 'New ADBL Branch in Rupandehi',
			'sub_title' => '',
			'summary' => 'April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL’s Bhairahawa Regional Office. ',
			'content' => '<p>April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL&rsquo;s Bhairahawa Regional Office. CEO Sitaula also launched the Core Banking System in various branches of Majhgawan and Sidharthanagaralong with the bank&rsquo;s Western Regional Training Center.</p>

<p>Speaking in the program, CEO Situala said, &quot;With the history of 49 years operation, the bank aims to expand its service with modern banking system.&quot; According to him, the bank has invested 31 percent of its total investment in the agriculture sector. He had also mentioned that the new branches are focusing on increasing financial literacy of the customers.</p>
',
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			'created' => '2016-04-11',
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			'description' => '',
			'sortorder' => '3145',
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			'article_date' => '2016-04-11 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '3306',
			'article_category_id' => '1',
			'title' => 'Kumari Bank’s Blood Donation Program',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year.',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3144',
			'image' => '20160411030149_Clipboard13.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '3305',
			'article_category_id' => '1',
			'title' => 'FNCCI Golden Jubilee 1966-2016 : Common Agenda for Economic Development: FNCCI',
			'sub_title' => '',
			'summary' => 'The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization's golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI ',
			'content' => '<p>The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization&#39;s golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI President Pashupati Murarka requested the government to move ahead for the country&rsquo;s economic development with common economic agenda while facing the existing challenges.</p>

<p>Prime Minister KP Sharma Oli unveiled the federation&rsquo;s golden jubilee logo and FNCCI mobile app which include all the information about the organisation. &ldquo;Weak economic growth, less employment opportunities, increasing trade deficit, deepening energy crisis, unequal development, lack of infrastructures, rising social insecurity, weak administrative system are the main challenges for the economic development,&rdquo; said Murarka, adding, &ldquo;As soon as the government changes, the economic policies and bureaucracy also get changed which create obstacle in the development. We need to put an end to this system.&rdquo;</p>

<p>He said that, due to the political differences, construction of Kathmandu-Terai Fast Track road, regional and international airports, mega hydropower projects, major infrastructure projects and projects of national pride are not being implemented &ldquo;The government and political parties need to assure that the policies would not be changed for at least 10-15 years, whichever party comes to the power.&rdquo;&nbsp;</p>

<p>Addressing the program, PM KP Sharma Oli said, &ldquo;The political struggle has finished, and now it&rsquo;s time for the economic development and prosperity.&rdquo; The prime minister felicitated FNCCI&rsquo;s staffs, member institutions and other affiliated organizations at the program. Similarly, Society of Economic Journalists-Nepal (SEJON) too was felicitated with cash prize and a letter of appreciation for its contribution in the field economic journalism. &nbsp; &nbsp; &nbsp;</p>
',
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			'id' => '3304',
			'article_category_id' => '1',
			'title' => 'Yeti Devt Bank Provides Scholarship ',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. ',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>
',
			'published' => true,
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			'keywords' => '',
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			'sortorder' => '3142',
			'image' => '20160411022659_Clipboard12.jpg',
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		'Article' => array(
			'id' => '3302',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Provides Homes for Quake Victims',
			'sub_title' => '',
			'summary' => 'April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 “transitional homes.',
			'content' => '<p>April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 &ldquo;transitional homes.&rdquo; Binod Chaudhary, President of the Chaudhary Foundation urged the government and concerned authorities to secure homes for earthquake victims before monsoon. &ldquo;The government, private sector and donor agencies should concentrate on the management of minimum shelter for earthquake victims,&rdquo; he said, adding, &ldquo;Effective coordination is necessary for the purpose.&rdquo; The shelters were built under the CG Shelter Project. The foundation has already constructed around 2,500 shelters till date.</p>

<p>The foundation distributed the houses as per its commitment of building transitional homes. Earlier, it has distributed CG shelters in Bhimtaar of Sindhupalchowk, and Mahadevsthan and Dolalghat of Kavre. The foundation also informed that shelters will be handed to the earthquake affected in various areas of Sindhupalchowk, Ramechap, Dolkha, Gorkha, Dhadhing including other districts.</p>
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simplexml_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
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		'Article' => array(
			'id' => '3317',
			'article_category_id' => '1',
			'title' => 'Bhaktapur Finance and Central Finance to Merge',
			'sub_title' => '',
			'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.  Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.',
			'content' => '<p>April 12:<strong>&nbsp;</strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.&nbsp; Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p>
',
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			'title' => 'Nepal Telecom’s New Year Offer',
			'sub_title' => '',
			'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.',
			'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p>

<p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3154',
			'image' => '20160412044208_tele.jpg',
			'article_date' => '2016-04-12 00:00:00',
			'homepage' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '3315',
			'article_category_id' => '1',
			'title' => 'Nepal Bank and NIDC to Merge',
			'sub_title' => '',
			'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.                ',
			'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp; &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3153',
			'image' => '20160412043651_nepal bank.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '3314',
			'article_category_id' => '1',
			'title' => 'Gurkha Development Bank Downgraded',
			'sub_title' => '',
			'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.',
			'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The &lsquo;B&rsquo; level Gurkha Development bank has become &lsquo;C&rsquo; level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p>

<p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p>

<p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank&rsquo;s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p>

<p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p>

<p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p>

<p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3152',
			'image' => '20160412043134_gurkham.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '3313',
			'article_category_id' => '1',
			'title' => 'EBL Calendar 2073 Unveiled',
			'sub_title' => '',
			'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ',
			'content' => '<p style="text-align: justify;">April 12:&nbsp;Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar.&nbsp;</p>

<p style="text-align: justify;">During the program, Secretary Rai appreciated the bank&rsquo;s efforts to promote culture and tourism of the country. &ldquo;Others should take this initiative as an example,&rdquo; he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p>

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

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

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3151',
			'image' => '20160412034123_ebl.jpg',
			'article_date' => '2016-04-12 00:00:00',
			'homepage' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '3312',
			'article_category_id' => '1',
			'title' => '“Govt Ready to Address Problems of Private Sector”',
			'sub_title' => '',
			'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.',
			'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government&rsquo;s willingness to support the private sector. The minister duo reiterated the government&rsquo;s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p>

<p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p>

<p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI.&nbsp;</p>

<p>&ldquo;Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,&rdquo; he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries.&nbsp;</p>

<p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers&rsquo; Ministry.</p>

<p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p>

<p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers&rsquo; right protection and maintaining an effective supply system. &ldquo;We have started the process of expanding fuel storage capacity,&rdquo; he informed. &ldquo;Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,&rdquo; he mentioned. &nbsp;Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. &ldquo;Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.&rdquo;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-04-12',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3150',
			'image' => '20160412031134_fc.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '3311',
			'article_category_id' => '1',
			'title' => 'Micromax Launches Canvas Q327 ',
			'sub_title' => '',
			'summary' => 'April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system.',
			'content' => '<p>April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system. &nbsp;Similarly, the phone sports a 4 inch WVGA screen, 5 MP primary camera and 1.3 MP rear camera. Canvas Q327 comes with a micro SD card slot which can be used to expand its storage upto 32 GB ,8 GB ROM and 1450 mAh battery. Q327 also supports 3G. The phone is priced &nbsp;Rs 6,193 in the domestic market.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-12',
			'modified' => '2016-04-14',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3149',
			'image' => '20160412125631_fdsf.jpg',
			'article_date' => '2016-04-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '11'
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '3310',
			'article_category_id' => '1',
			'title' => 'Api to Distribute Right Shares',
			'sub_title' => '',
			'summary' => 'A special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country’s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.',
			'content' => '<p style="text-align:justify">April 11: Special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country&rsquo;s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.</p>

<p style="text-align:justify">The company has completed the construction of 8.5 MW <em>Naugarh</em>&nbsp;Gad&nbsp;<em>Small</em> Hydroelectric&nbsp;<em>Project</em>. The company in a press statement informed that the capital collected from the issuance of right shares will be utilise to construct a 75 MW hydropower project on Trishuli river.</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3148',
			'image' => '20160411060330_api.jpg',
			'article_date' => '2016-04-11 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '3309',
			'article_category_id' => '1',
			'title' => 'WB Cautions South Asia on Fading Tailwinds',
			'sub_title' => '',
			'summary' => 'Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. “The region’s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,” reads the report.',
			'content' => '<p style="text-align: justify;">Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. &ldquo;The region&rsquo;s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,&rdquo; reads the report.</p>

<p style="text-align: justify;">Nevertheless, the bank also cautions South Asian nation of fading tailwinds of the global economy. &ldquo;Capital flows to the region have declined and remittances from oil exporting countries have started to weaken,&rdquo; mentions the bank. &ldquo;Fuel and food prices remain low but are unlikely to keep falling. As a result overall output growth is slower than previously anticipated and inflation has recently been creeping up.&rdquo;</p>

<p style="text-align: justify;">&ldquo;South Asia has been resilient to global turbulence due to its limited exposure to slowdowns in other major economies coupled with the tailwinds of favorable oil prices, capital flows, and remittances,&rdquo; said Annette Dixon, World Bank South Asia Vice President. &ldquo;However, fiscal and financial vulnerabilities remain and countries should strive to address them through generating revenue and creating more fiscal space.&rdquo;</p>

<p style="text-align: justify;">Many South Asian countries show potential for accelerated growth in the short to medium term, according to the report. &ldquo;However, they should expect a more difficult global environment demanding well-managed domestic economies,&rdquo; says the report. Given its weight in the region, India sets the pace for South Asia as a whole. The bank forecasts economic activity of India to accelerate from 7.5 percent in FY2016 to 7.7 percent in FY2017 based on the expectation of strong private investment, a push in infrastructure spending, an improved investment climate, and deleveraged corporate and financial balance sheets. The bank estimates the Nepali economy to grow by 1.7 percent in 2016 compared to 3.4 percent in 2015. The lower growth prospect is attributed to the last year&rsquo;s earthquake followed by cross-border trade disruptions, as per the bank. &ldquo;Disruptions increased inflation to double digits, affecting the welfare of the poor and vulnerable, while reducing revenue collection and slowing reconstruction efforts,&rdquo; the report mentions. &nbsp;Nevertheless, the bank expects the situation to normalised by the end of 2016, leading to strong rebound in 2017 with GDP expected to grow by 5.8 percent.</p>

<p style="text-align: justify;">Similarly, the report forecasts Pakistan&rsquo;s economic growth to accelerate modestly from 4.5 percent in 2016 to 4.8 percent in 2017 while Sri Lanka is expected to grow by 5.3 percent in both 2016 and 2017. The bank projects economic growth of Bangladesh to be 6.3 percent in 2016 and 6.8 percent in 2017 whereas, it forecasts Bhutan&rsquo;s growth to be 6.7 percent in 2016 and 6.8 percent in 2017. Meanwhile, Maldives is expected to achieve GDP growth of 3.5 percent in 2016 and 3.9 percent in 2017.&nbsp; Likewise, the bank estimates Afghanistan&rsquo;s growth to increase marginally from 1.9 percent in 2016 to 2.9 percent in 2017.&nbsp;</p>

<p style="text-align: justify;">The report&rsquo;s analysis of fiscal policy across the region suggests that governments need to find a balanced path towards fiscal consolidation. &ldquo;Fiscal policy has a wide range of impacts for development. The fiscal deficit affects macroeconomic stability, capital expenditures are needed for growth, and taxes and social spending matter for equity,&rdquo; said World Bank South Asia Chief Economist Martin Rama. &ldquo;With the currently low oil prices, this is also an opportune time for South Asian policy makers to introduce or expand explicit carbon taxes. This would improve environmental and fiscal sustainability at the same time.&rdquo;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3147',
			'image' => '20160411053100_flowchart.jpg',
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	(int) 9 => array(
		'Article' => array(
			'id' => '3308',
			'article_category_id' => '1',
			'title' => 'Karki Elected New NEFFA President',
			'sub_title' => '',
			'summary' => 'April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). "The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki," informs the association issuing a press statement. ',
			'content' => '<p>April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). &quot;The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki,&quot; informs the association issuing a press statement. According to NEFFA, the executive committee also unanimously elected Manoj Adhikari as First Vice-President, Rajendra Sangraula as Second Vice-President, Sundar Prasad Dahal as Secretary General and Naresh Kumar Agrawal as Treasurer.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3146',
			'image' => '20160411035454_Clipboard24.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '3307',
			'article_category_id' => '1',
			'title' => 'New ADBL Branch in Rupandehi',
			'sub_title' => '',
			'summary' => 'April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL’s Bhairahawa Regional Office. ',
			'content' => '<p>April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL&rsquo;s Bhairahawa Regional Office. CEO Sitaula also launched the Core Banking System in various branches of Majhgawan and Sidharthanagaralong with the bank&rsquo;s Western Regional Training Center.</p>

<p>Speaking in the program, CEO Situala said, &quot;With the history of 49 years operation, the bank aims to expand its service with modern banking system.&quot; According to him, the bank has invested 31 percent of its total investment in the agriculture sector. He had also mentioned that the new branches are focusing on increasing financial literacy of the customers.</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3145',
			'image' => '20160411031525_Clipboard14.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '3306',
			'article_category_id' => '1',
			'title' => 'Kumari Bank’s Blood Donation Program',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year.',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3144',
			'image' => '20160411030149_Clipboard13.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '3305',
			'article_category_id' => '1',
			'title' => 'FNCCI Golden Jubilee 1966-2016 : Common Agenda for Economic Development: FNCCI',
			'sub_title' => '',
			'summary' => 'The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization's golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI ',
			'content' => '<p>The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization&#39;s golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI President Pashupati Murarka requested the government to move ahead for the country&rsquo;s economic development with common economic agenda while facing the existing challenges.</p>

<p>Prime Minister KP Sharma Oli unveiled the federation&rsquo;s golden jubilee logo and FNCCI mobile app which include all the information about the organisation. &ldquo;Weak economic growth, less employment opportunities, increasing trade deficit, deepening energy crisis, unequal development, lack of infrastructures, rising social insecurity, weak administrative system are the main challenges for the economic development,&rdquo; said Murarka, adding, &ldquo;As soon as the government changes, the economic policies and bureaucracy also get changed which create obstacle in the development. We need to put an end to this system.&rdquo;</p>

<p>He said that, due to the political differences, construction of Kathmandu-Terai Fast Track road, regional and international airports, mega hydropower projects, major infrastructure projects and projects of national pride are not being implemented &ldquo;The government and political parties need to assure that the policies would not be changed for at least 10-15 years, whichever party comes to the power.&rdquo;&nbsp;</p>

<p>Addressing the program, PM KP Sharma Oli said, &ldquo;The political struggle has finished, and now it&rsquo;s time for the economic development and prosperity.&rdquo; The prime minister felicitated FNCCI&rsquo;s staffs, member institutions and other affiliated organizations at the program. Similarly, Society of Economic Journalists-Nepal (SEJON) too was felicitated with cash prize and a letter of appreciation for its contribution in the field economic journalism. &nbsp; &nbsp; &nbsp;</p>
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			'id' => '3304',
			'article_category_id' => '1',
			'title' => 'Yeti Devt Bank Provides Scholarship ',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. ',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>
',
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			'sortorder' => '3142',
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		'Article' => array(
			'id' => '3302',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Provides Homes for Quake Victims',
			'sub_title' => '',
			'summary' => 'April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 “transitional homes.',
			'content' => '<p>April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 &ldquo;transitional homes.&rdquo; Binod Chaudhary, President of the Chaudhary Foundation urged the government and concerned authorities to secure homes for earthquake victims before monsoon. &ldquo;The government, private sector and donor agencies should concentrate on the management of minimum shelter for earthquake victims,&rdquo; he said, adding, &ldquo;Effective coordination is necessary for the purpose.&rdquo; The shelters were built under the CG Shelter Project. The foundation has already constructed around 2,500 shelters till date.</p>

<p>The foundation distributed the houses as per its commitment of building transitional homes. Earlier, it has distributed CG shelters in Bhimtaar of Sindhupalchowk, and Mahadevsthan and Dolalghat of Kavre. The foundation also informed that shelters will be handed to the earthquake affected in various areas of Sindhupalchowk, Ramechap, Dolkha, Gorkha, Dhadhing including other districts.</p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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		'Article' => array(
			'id' => '3317',
			'article_category_id' => '1',
			'title' => 'Bhaktapur Finance and Central Finance to Merge',
			'sub_title' => '',
			'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.  Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.',
			'content' => '<p>April 12:<strong>&nbsp;</strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.&nbsp; Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p>
',
			'published' => true,
			'created' => '2016-04-12',
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			'sortorder' => '3155',
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			'article_date' => '2016-04-12 00:00:00',
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			'id' => '3316',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom’s New Year Offer',
			'sub_title' => '',
			'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.',
			'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p>

<p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p>
',
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			'sortorder' => '3154',
			'image' => '20160412044208_tele.jpg',
			'article_date' => '2016-04-12 00:00:00',
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			'id' => '3315',
			'article_category_id' => '1',
			'title' => 'Nepal Bank and NIDC to Merge',
			'sub_title' => '',
			'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.                ',
			'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp; &nbsp;&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '3153',
			'image' => '20160412043651_nepal bank.jpg',
			'article_date' => '2016-04-12 00:00:00',
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		'Article' => array(
			'id' => '3314',
			'article_category_id' => '1',
			'title' => 'Gurkha Development Bank Downgraded',
			'sub_title' => '',
			'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.',
			'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The &lsquo;B&rsquo; level Gurkha Development bank has become &lsquo;C&rsquo; level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p>

<p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p>

<p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank&rsquo;s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p>

<p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p>

<p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p>

<p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance.&nbsp;</p>
',
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			'sortorder' => '3152',
			'image' => '20160412043134_gurkham.jpg',
			'article_date' => '2016-04-12 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '3313',
			'article_category_id' => '1',
			'title' => 'EBL Calendar 2073 Unveiled',
			'sub_title' => '',
			'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ',
			'content' => '<p style="text-align: justify;">April 12:&nbsp;Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar.&nbsp;</p>

<p style="text-align: justify;">During the program, Secretary Rai appreciated the bank&rsquo;s efforts to promote culture and tourism of the country. &ldquo;Others should take this initiative as an example,&rdquo; he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p>

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

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

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3151',
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		'Article' => array(
			'id' => '3312',
			'article_category_id' => '1',
			'title' => '“Govt Ready to Address Problems of Private Sector”',
			'sub_title' => '',
			'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.',
			'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government&rsquo;s willingness to support the private sector. The minister duo reiterated the government&rsquo;s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p>

<p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p>

<p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI.&nbsp;</p>

<p>&ldquo;Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,&rdquo; he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries.&nbsp;</p>

<p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers&rsquo; Ministry.</p>

<p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p>

<p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers&rsquo; right protection and maintaining an effective supply system. &ldquo;We have started the process of expanding fuel storage capacity,&rdquo; he informed. &ldquo;Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,&rdquo; he mentioned. &nbsp;Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. &ldquo;Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.&rdquo;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-04-12',
			'keywords' => '',
			'description' => '',
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			'id' => '3311',
			'article_category_id' => '1',
			'title' => 'Micromax Launches Canvas Q327 ',
			'sub_title' => '',
			'summary' => 'April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system.',
			'content' => '<p>April 12 : Indian handset manufacturer Micromax has launched new smartphone Canvas Q327 in Nepal. Powered by a 1.2 GHz quad- core processor and 1GB RAM , the new Micromax smartphone runs on Android 5.1 Lollipop operating system. &nbsp;Similarly, the phone sports a 4 inch WVGA screen, 5 MP primary camera and 1.3 MP rear camera. Canvas Q327 comes with a micro SD card slot which can be used to expand its storage upto 32 GB ,8 GB ROM and 1450 mAh battery. Q327 also supports 3G. The phone is priced &nbsp;Rs 6,193 in the domestic market.</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-04-14',
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			'sortorder' => '3149',
			'image' => '20160412125631_fdsf.jpg',
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		'Article' => array(
			'id' => '3310',
			'article_category_id' => '1',
			'title' => 'Api to Distribute Right Shares',
			'sub_title' => '',
			'summary' => 'A special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country’s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.',
			'content' => '<p style="text-align:justify">April 11: Special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country&rsquo;s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.</p>

<p style="text-align:justify">The company has completed the construction of 8.5 MW <em>Naugarh</em>&nbsp;Gad&nbsp;<em>Small</em> Hydroelectric&nbsp;<em>Project</em>. The company in a press statement informed that the capital collected from the issuance of right shares will be utilise to construct a 75 MW hydropower project on Trishuli river.</p>
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			'article_date' => '2016-04-11 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '3309',
			'article_category_id' => '1',
			'title' => 'WB Cautions South Asia on Fading Tailwinds',
			'sub_title' => '',
			'summary' => 'Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. “The region’s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,” reads the report.',
			'content' => '<p style="text-align: justify;">Led by robust growth in India, South Asia shows resilience in the face of turbulent international markets and remains the fastest-growing region in the world, says a new World Bank report. According to South Asia Economic Focus, published twice-a-year, the region is likely to see its economic growth to gradually accelerate from 7.1 percent in 2016 to 7.3 percent in 2017. &ldquo;The region&rsquo;s economic performance prospects remain strong due limited exposure to global turbulence, coupled with increasing investment activity,&rdquo; reads the report.</p>

<p style="text-align: justify;">Nevertheless, the bank also cautions South Asian nation of fading tailwinds of the global economy. &ldquo;Capital flows to the region have declined and remittances from oil exporting countries have started to weaken,&rdquo; mentions the bank. &ldquo;Fuel and food prices remain low but are unlikely to keep falling. As a result overall output growth is slower than previously anticipated and inflation has recently been creeping up.&rdquo;</p>

<p style="text-align: justify;">&ldquo;South Asia has been resilient to global turbulence due to its limited exposure to slowdowns in other major economies coupled with the tailwinds of favorable oil prices, capital flows, and remittances,&rdquo; said Annette Dixon, World Bank South Asia Vice President. &ldquo;However, fiscal and financial vulnerabilities remain and countries should strive to address them through generating revenue and creating more fiscal space.&rdquo;</p>

<p style="text-align: justify;">Many South Asian countries show potential for accelerated growth in the short to medium term, according to the report. &ldquo;However, they should expect a more difficult global environment demanding well-managed domestic economies,&rdquo; says the report. Given its weight in the region, India sets the pace for South Asia as a whole. The bank forecasts economic activity of India to accelerate from 7.5 percent in FY2016 to 7.7 percent in FY2017 based on the expectation of strong private investment, a push in infrastructure spending, an improved investment climate, and deleveraged corporate and financial balance sheets. The bank estimates the Nepali economy to grow by 1.7 percent in 2016 compared to 3.4 percent in 2015. The lower growth prospect is attributed to the last year&rsquo;s earthquake followed by cross-border trade disruptions, as per the bank. &ldquo;Disruptions increased inflation to double digits, affecting the welfare of the poor and vulnerable, while reducing revenue collection and slowing reconstruction efforts,&rdquo; the report mentions. &nbsp;Nevertheless, the bank expects the situation to normalised by the end of 2016, leading to strong rebound in 2017 with GDP expected to grow by 5.8 percent.</p>

<p style="text-align: justify;">Similarly, the report forecasts Pakistan&rsquo;s economic growth to accelerate modestly from 4.5 percent in 2016 to 4.8 percent in 2017 while Sri Lanka is expected to grow by 5.3 percent in both 2016 and 2017. The bank projects economic growth of Bangladesh to be 6.3 percent in 2016 and 6.8 percent in 2017 whereas, it forecasts Bhutan&rsquo;s growth to be 6.7 percent in 2016 and 6.8 percent in 2017. Meanwhile, Maldives is expected to achieve GDP growth of 3.5 percent in 2016 and 3.9 percent in 2017.&nbsp; Likewise, the bank estimates Afghanistan&rsquo;s growth to increase marginally from 1.9 percent in 2016 to 2.9 percent in 2017.&nbsp;</p>

<p style="text-align: justify;">The report&rsquo;s analysis of fiscal policy across the region suggests that governments need to find a balanced path towards fiscal consolidation. &ldquo;Fiscal policy has a wide range of impacts for development. The fiscal deficit affects macroeconomic stability, capital expenditures are needed for growth, and taxes and social spending matter for equity,&rdquo; said World Bank South Asia Chief Economist Martin Rama. &ldquo;With the currently low oil prices, this is also an opportune time for South Asian policy makers to introduce or expand explicit carbon taxes. This would improve environmental and fiscal sustainability at the same time.&rdquo;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2016-04-11',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3147',
			'image' => '20160411053100_flowchart.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '3308',
			'article_category_id' => '1',
			'title' => 'Karki Elected New NEFFA President',
			'sub_title' => '',
			'summary' => 'April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). "The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki," informs the association issuing a press statement. ',
			'content' => '<p>April 11 : Prakash Singh Karki has been elected as the new President of Nepal Freight Forwarders Association (NEFFA). &quot;The 16th Annual General Meeting (AGM) held in Kathmandu has elected 12 members executive committee under presidency of Karki,&quot; informs the association issuing a press statement. According to NEFFA, the executive committee also unanimously elected Manoj Adhikari as First Vice-President, Rajendra Sangraula as Second Vice-President, Sundar Prasad Dahal as Secretary General and Naresh Kumar Agrawal as Treasurer.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3146',
			'image' => '20160411035454_Clipboard24.jpg',
			'article_date' => '2016-04-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 10 => array(
		'Article' => array(
			'id' => '3307',
			'article_category_id' => '1',
			'title' => 'New ADBL Branch in Rupandehi',
			'sub_title' => '',
			'summary' => 'April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL’s Bhairahawa Regional Office. ',
			'content' => '<p>April 11: Agricultural Development Bank Limited (ADBL) has opened a new branch in Pharsatikar of Rupandehi district. CEO of the bank Lila Prakash Sitaula inaugurated the new branch office in a program organized on April 10.The program was organized in chairmanship of Arun Kumar Dhungana, Director of ADBL&rsquo;s Bhairahawa Regional Office. CEO Sitaula also launched the Core Banking System in various branches of Majhgawan and Sidharthanagaralong with the bank&rsquo;s Western Regional Training Center.</p>

<p>Speaking in the program, CEO Situala said, &quot;With the history of 49 years operation, the bank aims to expand its service with modern banking system.&quot; According to him, the bank has invested 31 percent of its total investment in the agriculture sector. He had also mentioned that the new branches are focusing on increasing financial literacy of the customers.</p>
',
			'published' => true,
			'created' => '2016-04-11',
			'modified' => '2016-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3145',
			'image' => '20160411031525_Clipboard14.jpg',
			'article_date' => '2016-04-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 11 => array(
		'Article' => array(
			'id' => '3306',
			'article_category_id' => '1',
			'title' => 'Kumari Bank’s Blood Donation Program',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year.',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-04-11',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3144',
			'image' => '20160411030149_Clipboard13.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '3305',
			'article_category_id' => '1',
			'title' => 'FNCCI Golden Jubilee 1966-2016 : Common Agenda for Economic Development: FNCCI',
			'sub_title' => '',
			'summary' => 'The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization's golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI ',
			'content' => '<p>The Federation of Nepalese Chamber of Commerce (FNCCI) has suggested to the government to prepare common minimum economic agenda for the economic and industrial development of the country. On the occasion of the organization&#39;s golden jubilee, 50th annual general meeting and Industry Commerce Day, FNCCI President Pashupati Murarka requested the government to move ahead for the country&rsquo;s economic development with common economic agenda while facing the existing challenges.</p>

<p>Prime Minister KP Sharma Oli unveiled the federation&rsquo;s golden jubilee logo and FNCCI mobile app which include all the information about the organisation. &ldquo;Weak economic growth, less employment opportunities, increasing trade deficit, deepening energy crisis, unequal development, lack of infrastructures, rising social insecurity, weak administrative system are the main challenges for the economic development,&rdquo; said Murarka, adding, &ldquo;As soon as the government changes, the economic policies and bureaucracy also get changed which create obstacle in the development. We need to put an end to this system.&rdquo;</p>

<p>He said that, due to the political differences, construction of Kathmandu-Terai Fast Track road, regional and international airports, mega hydropower projects, major infrastructure projects and projects of national pride are not being implemented &ldquo;The government and political parties need to assure that the policies would not be changed for at least 10-15 years, whichever party comes to the power.&rdquo;&nbsp;</p>

<p>Addressing the program, PM KP Sharma Oli said, &ldquo;The political struggle has finished, and now it&rsquo;s time for the economic development and prosperity.&rdquo; The prime minister felicitated FNCCI&rsquo;s staffs, member institutions and other affiliated organizations at the program. Similarly, Society of Economic Journalists-Nepal (SEJON) too was felicitated with cash prize and a letter of appreciation for its contribution in the field economic journalism. &nbsp; &nbsp; &nbsp;</p>
',
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	(int) 13 => array(
		'Article' => array(
			'id' => '3304',
			'article_category_id' => '1',
			'title' => 'Yeti Devt Bank Provides Scholarship ',
			'sub_title' => '',
			'summary' => 'April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. ',
			'content' => '<p>April 11 : Kumari Bank has completed its 15th year of operations. The employee association of Kumari Bank organized a blood donation program on the occasion of the bank entering into the 16th year. Around 62 participants including the bank&rsquo;s Director Uttam Prasad Bhattarai, shareholders, customers and well-wishers were present during the ceremony. Similarly, the bank&rsquo;s Chairman Santosh Kumar Lama honoured the blood donors with gifts. Founded in 2001, Kumari Bank has been providing its services through 36 branches, two extension counters and 46 ATM locations across the country.</p>
',
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			'created' => '2016-04-11',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3142',
			'image' => '20160411022659_Clipboard12.jpg',
			'article_date' => '2016-04-11 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '3302',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Provides Homes for Quake Victims',
			'sub_title' => '',
			'summary' => 'April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 “transitional homes.',
			'content' => '<p>April 11 : Chaudhary Foundation, the CSR arm of Chaudhary Group, has distributed homes to the earthquake victims of Jalbire in Sindhupalchowk district. The foundation handed over the homes to the affected people amid a program that was organized to distribute the 65 &ldquo;transitional homes.&rdquo; Binod Chaudhary, President of the Chaudhary Foundation urged the government and concerned authorities to secure homes for earthquake victims before monsoon. &ldquo;The government, private sector and donor agencies should concentrate on the management of minimum shelter for earthquake victims,&rdquo; he said, adding, &ldquo;Effective coordination is necessary for the purpose.&rdquo; The shelters were built under the CG Shelter Project. The foundation has already constructed around 2,500 shelters till date.</p>

<p>The foundation distributed the houses as per its commitment of building transitional homes. Earlier, it has distributed CG shelters in Bhimtaar of Sindhupalchowk, and Mahadevsthan and Dolalghat of Kavre. The foundation also informed that shelters will be handed to the earthquake affected in various areas of Sindhupalchowk, Ramechap, Dolkha, Gorkha, Dhadhing including other districts.</p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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View::render() - CORE/Cake/View/View.php, line 473
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