December 13: The government has refunded Rs 38 billion in taxes in the last nine years.…
December 13: The government has refunded Rs 38 billion in taxes in the last nine years.…
December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from…
December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his…
The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern…
December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be…
December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight…
The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on…
December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the…
December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary…
December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in…
December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Association of Nepal…
A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and…
The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the…
December 11: The price of radish has dropped with the increase in the supply of freshly-produced…
December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The government has refunded Rs 38 billion in taxes in the last nine years. According to the Inland Revenue Department (IRD), it received claims for tax refunds equal to Rs 99.47 from the fiscal year 2071/72 to 2079/80. Out of the total claims, the government has approved and refunded Rs 38.6 billion. According to the department, claims for tax refund have increased in recent years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, out of 840 claims for tax refund worth Rs 19.1 billion, the department approved tax rebate of Rs 4.58 billion as claimed by 498 taxpayers. The rest of the claims were rejected by the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago, in the fiscal year 2071/72, the tax rebate amount approved by the Rs 5.5 billion out of the total claims of Rs 9.91 billion. The government has been refunding taxes incurred on diplomatic missions, various exemption facilities, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there has been an increase in claims from diplomats as well. In the last fiscal year alone, the government returned Rs 1 billion of taxes to diplomatic missions and diplomats. Their claim made by them were much higher than the amount refunded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In its annual report published recently, the department has mentioned that the claimants did not submit the bill properly and did not complete the process according to the law. As a result, the approval amount was less than the claims made for tax refund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, Section 25 of the Value Added Act, 2052, has a provision to refund diplomatic missions and diplomats recognized by the Ministry of Foreign Affairs if they make claims within three years from the date of transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In same section, there is a provision of tax rebate to foreign tourists, and to contractors and pharmaceutical companies in case of overpayment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It seems that the exemptions provided by the tax authorities have resulted in reduction in revenue generation," said a former revenue secretary, adding, "The trend of arbitrary tax withdrawal based on the decisions of the Council of Ministers has been seen in recent years. It is necessary to stop it.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He believes that the government should not give back rebate arbitrarily.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19447', 'image' => '20231213112126_1702439925.20230713124510_2307- editorial.jpg', 'article_date' => '2023-12-13 11:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19717', 'article_category_id' => '1', 'title' => 'FMTC Start Purchasing Paddy from Farmers on Time', 'sub_title' => '', 'summary' => 'December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers. FMTC has set a target of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion this year. FMTC, which has always been late in purchasing paddy, has initiated the process on time this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, FMTC started the process of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">989.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million. The company, which started procurement very late last year, did not even meet half of its target. Last year, FMTC purchased only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13,400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">411.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sharmila Subedi, information officer of the company, informed New Business Age that the company has already started purchasing paddy from Mahendranagar, Dhangadhi, Rajapur and Nepalganj areas. According to her, FMTC has already purchased </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from these areas so far. Apart from this, FMTC is also preparing to buy paddy from Bhairahwa, Birgunj, Janakpur, Lahan, Biratnagar, Birtamod and Jumla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“This year, we have started the procurement process with a big target. In the past few years, when we purchased late, we could not buy paddy as per the target. On top of that, we had to suffer food shortage. So this year, we have started purchasing paddy on time with a big target,” said Subedi, adding, “Procurement has been started in collaboration with local bodies even in places other than the main procurement center."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current fiscal year (FY), the government has set a minimum support price of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,098</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for coarse paddy and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,362</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for medium-sized paddy. This price is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">231</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">234</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> higher than the price of previous year respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, the FMTC aims to purchase a maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from Rajapur area of Bardiya and a minimum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons from Jumla. FMTC will purchase local Marsi paddy from Jumla.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19445', 'image' => '20231213111806_20230202025230_1675301519.jpg', 'article_date' => '2023-12-13 11:17:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19716', 'article_category_id' => '1', 'title' => 'NOC Executive Director Thani Steps Down', 'sub_title' => '', 'summary' => 'December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post. Thani submitted his resignation to the NOC Board of Directors on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A board member of NOC said citing the letter submitted to the NOC Board of Directors that Thani resigned from his post voluntarily.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The NOC is headed by commerce secretary. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before his appointment as the executive director of NOC, Thani was the president of Center for Democratic Engineers, an organization of engineers affiliated to the Nepali Congress. He spent more than one and a half years in the state-owned NOC.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19444', 'image' => '20231213104529_1702440517.2 jane.jpg', 'article_date' => '2023-12-13 10:44:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19715', 'article_category_id' => '1', 'title' => 'Vedic Research Guthi to Carry Out Research on AI', 'sub_title' => '', 'summary' => 'The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 12: The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Swami Keshabananda, the founder of the Guthi, said that they are actively collecting data for AI research, emphasizing the Guthi's foundational purpose to delve into AI exploration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Keshabananda mentioned the potential ease of learning and teaching practices through the incorporation of Vedic literature into AI via effective data management. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He further elucidated that the Guthi is meticulously planning and executing these initiatives in collaboration with the IT sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "We are diligently working on developing a comprehensive plan," shared Dr. Keshabananda. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In an innovative approach, the institution envisions deploying students with expertise in Sanskrit literature and the IT sector as the driving force behind this research. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19443', 'image' => '20231213063040_collage (8).jpg', 'article_date' => '2023-12-13 06:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19714', 'article_category_id' => '1', 'title' => 'Human, Trade Union Rights Situation of Education Workers in Asia-Pacific Disappointing ', 'sub_title' => '', 'summary' => 'December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing. A report entitled "State of Rights of Education Workers in Asia-Pacific (2021-22)" launched by the Education International: Asia-Pacific (EIAP) highlighted the persistence of long-standing tensions and emergence of new conundrums in the human and trade union rights situation of teachers and education support personnel in the Asia-Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, most of the countries or territories in the Asia-Pacific accord legal recognition to the human, civil and political rights of teachers. However, in a considerable number of states, these rights are either totally denied to citizens, in general, on sectarian grounds or particularly on the basis of the teachers' sectoral profile. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Teachers have also been particularly targeted and victimized by arbitrary arrests, torture and violent dispersals. Meanwhile, discriminatory practices based on sex, race, ethnicity, citizenship or disability in hiring, promotion or pay policies were observed during the survey. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, low salaries and the dismal working conditions of teachers, including large class sizes and long work hours, continue to be major issues, according to the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sixty-Seven percent of total EIAP member organizations (63) in the region have responded to the survey, representing 24 countries out of 36 countries or territories in all five sub-regions, namely: South Asia, Southeast Asia, the Pacific, North Asia, and West Asia. Out of the total number of respondent unions, 29.73% represent the public sector only, while 43 24% represent mostly the public sector. The respondents were distributed across sectors from early childhood education to education support personnel, with most (86.49%) representing primary and secondary education workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the report launch, EIAP regional director, Anand Singh, dubbed the report the "first of its kind," providing an overview of the human and trade union rights situation, particularly for teachers and education support personnel in the Asia-Pacific region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Researcher Frank Lioyd Tiongson called for the improvement of the human and trade union rights of education workers while Institutional School Teachers' Union (ISTU) President Hom Kumar Thapa said private teachers have been denied their political and trade union rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19442', 'image' => '20231212050331_teach.jpg', 'article_date' => '2023-12-12 17:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19713', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Relaunches Direct Flights between Kathmandu and Chongqing', 'sub_title' => '', 'summary' => 'December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Issuing a statement on Tuesday, the airline company said that direct flights between the two cities commenced on December 12. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">This historic event marks a significant milestone in Himalaya Airlines' commitment to enhancing connectivity and promoting bilateral ties between Nepal and China, added the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">According to the company, the Kathmandu-Chongqing-Kathmandu route will offer passengers seamless travel options between the capital city of Nepal and the bustling metropolis of Chongqing, China. This direct link between the cities reflects Himalaya Airlines' dedication in providing convenient, safe, and efficient travel, the statement further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Chongqing, renowned for its rich cultural heritage, modern urban landscape, and economic dynamism, presents itself as an attractive destination for Nepali travelers, offering a unique blend of historical landmarks, culinary delights, and technological advancements, the company added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said that the first outbound flight, H9 787, departed from Tribhuvan International Airport at 10:07 hours (local time) and reached Chongqing-based Jiangbei International Airport at 15:50 hours (local time), with a flight duration of 3 hours and 14 minutes. A total of 125 passengers boarded the first flight. The return flight was scheduled to depart from Chongqing, at 16:25 hours (local time) and is expected to arrive in Kathmandu at 18:35 hours (local time).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it will be operating two flights a week between the cities on every Tuesday and Saturday. This flight signifies the fourth direct connectivity of Himalaya Airlines between China and Nepal including Beijing, Qingdao</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">and Shanghai.</span></span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“The relaunch of this route signifies Himalaya Airline’s commitment to expanding its network, catering to the evolving needs of travelers, and furthering its mission to provide direct, reliable and comfortable air travel experiences. With this addition to its network, Himalaya Airlines aims to facilitate business opportunities, tourism, and cultural interactions between Nepal and China, contributing to the strengthening of bilateral relations,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it aims to create memorable travel experiences while maintaining the highest safety standards. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“We look forward to welcoming travelers on board our flights and helping them explore the beauty and opportunities that both Nepal and China have to offer.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19441', 'image' => '20231212042159_A 319.jpg', 'article_date' => '2023-12-12 16:21:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19712', 'article_category_id' => '1', 'title' => 'NEPSE Posts Impressive Surge of 36.86 to Close at 1985.44', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 297 scrips were traded through 95,433 transactions, involving 12,463,168 shares, amounting to Rs 4.30 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This upward momentum in the stock market has been attributed to the positive sentiment generated by the recent first quarterly review of the monetary policy by the Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NRB's decision to reduce the risk weightage on margin lending against shares from 150% to 125% has been particularly influential in fostering optimism among investors, propelling the market on an upward trajectory.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM Cements LTD (SHIVM) led the way with the highest turnover, recording Rs 18 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Bottlers Nepal Limited (BNL), Dhaulagirii Laghubitta Bittiya Sanstha Limited (DLBS), Nepal Republic Media Limited (NRM), and Sonapur Minerals and Oil Limited (SONA) each saw substantial gains of 10%, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) incurred the highest loss at 5.11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors closed in the green zone. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hotels and Tourism Index saw the most significant gain at 4.33%, while the Banking SubIndex witnessed least increase of 0.21%. </span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19440', 'image' => '20231212033814_collage (9).jpg', 'article_date' => '2023-12-12 15:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19711', 'article_category_id' => '1', 'title' => 'Conservationists Express Concern over Mountains Turning Bare ', 'sub_title' => '', 'summary' => 'December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Arguing that snow has been melting at a fast pace resulting in the mountains turning bare and thereby affecting the entire ecosystem, they urged all sides concerned to continue efforts to minimize the impacts of climate change. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Owing to global warming, mountains are losing snow cover. It will turn mountain climbing to a mere rock climbing," warned Dr Ghanashyam Gurung, chief of World Wildlife Fund in Nepal and conservationist, stressing that there is no option but to adopt and scale up measures for climate change mitigation and adaptation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He expressing such views during a session focused on fading snow cover and impacts on livelihood in the ongoing International Mountain Festival in Pokhara on Monday. Gurung said Nepal was witnessing fast melting of snow, thereby leaving mountains bare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that local initiatives are imperative to minimize the impacts of climate change to which Nepal has negligible role. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Those culpable for climate change are rich and industrialized countries. However, Nepal must not stay idle, but build moral grounds to voice its concerns to the international community," Gurung opined. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Another speaker Dr Amina Maharjan, who is an expert on livelihood and migration, argued that mountains turning bare are the growing concerns not only of Nepal but of the entire Hindu Kush region. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Ecology, agriculture, tourism, and health are having negative impacts of climate change," she said, stressing the need of proper adaptation to minimize the worsening situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flashflood that occurred in Seti River in 2012 and the floods in Kagbeni some months ago were caused by climate change, according to Maharjan. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">She expressed concerns about inadequate discussions and research on the impacts of climate change on health. The spread of disease and health-related problems are rising of late, she warned. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Nepal should make its voice heard in the global arena to receive compensation under the Loss and Damage Fund,” she suggested. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noted journalist Kunda Dixit expressed his view that the time has come to term climate change a 'climate crisis'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said that water crisis is induced by climate change. As the rivers and water sources are drying up, it must be considered as an urgent issue by the government. Dixit suggested to promote the use of renewable energy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Researcher on climate change and food security, Dr Jagannath Adhikari, said that mountains have close ties with the culture of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Once the mountains lose snow, we lose our culture," he argued, warning that Pokhara could no more enjoy the majestic sight of snow-capped mountains. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Melting of snow has direct impacts on agricultural products, he said adding that both national and international initiatives must be continued to cope with the impacts of climate change. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => 'mountains, climate, change, impact, snow, melting, Pokhara, Nepal, Himalayas, global, warming, Nepal, culture, ecosystem', 'description' => '', 'sortorder' => '19439', 'image' => '20231212023147_NL-Manang-IMG_20231101_104951.JPG', 'article_date' => '2023-12-12 14:30:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19710', 'article_category_id' => '1', 'title' => 'Banks Start Reducing Interest Rates after First Quarterly Review of Monetary Policy by NRB', 'sub_title' => '', 'summary' => 'December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Generally, banks change the interest rate at the end of a month, but they implemented the new interest rate in the middle of the month after the change in the policy rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the central bank, commercial banks can change the interest rates with immediate effect if there is a change in the bank rate and policy rate provided that the banks publish the notice about the change in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing laws, banks should publish the interest rate applicable on deposits for each month before the beginning of the month. According to this provision, banks have been publishing notices on the last day of every month that give information about the interest rate applicable for the next month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the review of the monetary policy on Friday, the central bank reduced the bank rate from 7.5 percent to 7 percent and the policy rate from 6.5 percent to 5.5 percent. Following the central bank’s move, the banks also started reducing the interest rates with immediate effect by publishing notices.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far NIC Asia Bank, Kumari Bank and NMB Bank have published notices and reduced the interest rates. NIC Asia Bank published a notice on Sunday and fixed the maximum interest rate on fixed deposits at 8.67 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, NIC Asia Bank said that the new interest rate of the bank will be applicable only from mid-December. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumari Bank has reduced the interest rate with effect from Sunday. Kumari has set a maximum interest rate of 9.61 percent on individual term deposits, down from 10.10 percent in the past two months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NMB Bank has also implemented the new interest rate from Monday. NMB Bank had been giving a maximum interest rate of 9.50 percent on individual term deposits, but has reduced it to 9 percent from Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, banks have excess liquidity due to the lack of credit flow compared to the increase in deposit collection. As the liquidity situation eased, the central bank reduced the policy rates making it easier for the banks to reduce the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of the NRB, banks currently have the capacity to extend loans of more than Rs 600 billion. However, due to non-expansion of credit flow, the interbank interest rate has fallen to one percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there has been excess liquidity in the banking system, the central bank has been mopping excess liquidity from the market through deposit collection tools. Since November 23, the central bank has withdrawn about Rs 150 billion from the market through deposit collection tools. Of that amount, Rs 45 billion have matured and have been returned to the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NRB records show that commercial banks have a total deposits of Rs 5289 billion while they provided loans of Rs 4407 billion. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19438', 'image' => '20231212010229_Banks - Copy.jpg', 'article_date' => '2023-12-12 13:01:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19708', 'article_category_id' => '1', 'title' => 'Government Holds Meeting with Donors ahead of Third Investment Summit ', 'sub_title' => '', 'summary' => 'December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Finance Minister Dr Prakash Sharan Mahat, the meeting focused on generating ideas for making the Summit effective and result-oriented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are seeking inputs from investors in regard with investment atmosphere in Nepal and areas they believe need improvements," the Finance Minister said, adding that Nepal presents an environment conducive for investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The demand side is higher than supplies in Nepal, making it an attractive destination for investment," Finance Minister Mahat further said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that there is high potential for investment in hydropower, tourism, information technology and agricultural sectors in Nepal. According to the minister, Nepal presents a favorable ground for investment in small and medium enterprises as well. He added the government is seriously working to address challenges in the investment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The bill regarding laws against money laundering is likely to be endorsed by the parliament. We could work toward the achievement of Sovereign Credit Rating before the Summit. We are dedicated to remove all sorts of challenges and hurdles for investment," the Finance Minister assured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Chief Secretary Dr Baikuntha Aryal said the government is effortful to make policy-level and procedural improvements for investment. The meeting also discussed issues regarding projects to be showcased during the Summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has already formed separate committees for the Summit like the director committee led by the finance minister, the implementation committee led by chief secretary and the technical committee led by secretary of the Ministry of Industry, Commerce and Supplies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first meeting of the director committee took place on November 26 and the implementation committee meeting on December 5. But the technical committee meeting is yet to be organised. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The director committee is tasked with approving the conference schedule and model, identifying the areas that require policy reforms to create a climate for the conference and looking after the whole affairs of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's members are the foreign minister, the energy minister, the physical infrastructure minister, the culture and tourism minister, the industry minister, the agriculture minister, the development urban minister and the federal affairs minister, vice chairperson of the National Planning Commission, chief secretary, governor of the Nepal Rastra Bank, secretary of the Office of Prime Minister and Council of Ministers, finance secretary, industry secretary and chairpersons of three umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The implementation committee is tasked with preparing the proposal to be submitted to the director committee, in coordination with the stakeholders and providing necessary help to the director committee for the entire preparation of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Members of the committee are secretaries of the line ministries, deputy governor of the Nepal Rastra Bank and chairperson of the umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The technical committee is tasked with developing the project concept after analysing the status of the projects to be presented at the conference, developing attractive and reliable projects to be proposed and preparing various memorandums of understandings and agreements. The committee members are joint secretaries of the line ministries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19436', 'image' => '20231212114012_20231126113943_20190307120527_Clipboard24.jpg', 'article_date' => '2023-12-12 11:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19707', 'article_category_id' => '1', 'title' => 'Nepal Exported Handicraft Products worth Rs 12 Billion in a Year: FHAN ', 'sub_title' => '', 'summary' => 'December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Association of Nepal (FHAN). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Associations of Nepal (FHAN). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation made this revelation on Monday during a press meet organized to inform about the upcoming 20th Handicraft Trade Fair and 18th Handicraft Competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation's President Prachanda Shakya informed that the handicraft products made in Nepal were exported to over 60 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali handicraft products have made significant contribution to the national economy, thus, warranting special attention from the government and others concerned for its protection and promotion, he stressed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation is organising the 18th Handicraft Competition and the 20th Handicraft Trade Fair at Hotel Annapurna, Durbar Marg, from December 14 to 18. The organisers informed that the fair will have three pavilions with 130 stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The fair is expected to draw more than 100,000 visitors, according to the organizers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anyone securing first position in the competition will get cash prize of Rs 50,000, while the second position holder will receive Rs 30,000 and the third-place finisher will bag Rs 20,000. Similarly, 10 senior citizens and noted artistes of over 70 years would be honoured on the occasion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19435', 'image' => '20231212103112_20170913113102_sect.jpg', 'article_date' => '2023-12-12 10:30:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19706', 'article_category_id' => '1', 'title' => 'New Butwal 220 KV Transmission Line Comes into Operation', 'sub_title' => '', 'summary' => 'A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Energy, Shakti Bahadur Basnet, officially inaugurated the 90-kilometer transmission line on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stretching from Khurkot in Kushma Municipality-2, Parbat, to the New Butwal Substation at Suryabasti in Sunwal Municipality-13, Bardhaghat Susta Paschim, the transmission line is set to transmit power generated from hydropower projects in the Kaligandaki river and its tributaries. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The line boasts a remarkable capacity to transmit 1,200 megawatts of power.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Basnet emphasized the pivotal role of the Kaligandaki corridor transmission line in facilitating power supply across the east-west regions of Nepal and supporting trans-border power trade. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Executive Director of Nepal Electricity Authority (NEA), Kulman Ghising, highlighted the New Butwal Substation as a key hub for power pooling, facilitating increased power consumption at the local level, east-west power supply, and power export to India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line, consisting of 236 towers, is poised to significantly enhance the internal power distribution and trans-border transmission system in the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its completion has already led to improved credibility of the integrated power system and increased power voltage in Nawalparasi and Rupandehi districts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the new transmission line will enable the integration of power generated in the districts of Mustang and Myagdi into the national grid, utilizing the same transmission line.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The entire project, completed with an investment of Rs 11 billion, saw contributions from the government, NEA, and the South Asia Sub-Regional Economic Cooperation of the Asian Development Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plans are afoot for expanding the power transmission grid from the New Butwal Substation to Bardaghat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, another 220 KV power supply line is set to be established from Hetauda to New Butwal, further enhancing the country's power infrastructure and ensuring a more resilient and reliable power supply network. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19434', 'image' => '20231212060510_collage (7).jpg', 'article_date' => '2023-12-12 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19704', 'article_category_id' => '1', 'title' => 'NEPSE Records Decline of 15.40 to Close at 1948.57', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Financial experts and stock analysts attribute today's correction to the natural course of market dynamics following yesterday's remarkable surge of over 100 points. The day's turnover reached Rs 4.84 billion, indicating increased investor activity and a prevailing positive sentiment among them.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 303 scrips were traded in 109,918 transactions, involving 14,698,517 shares, amounting to Rs 4.84 billion turnover. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONAPUR) took the lead in turnover with Rs 25 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bottler Nepal Limited (BNL), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), and Dolti Power Company Limited (DOLTI), each saw a significant gain of 10%, triggering a positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the downside, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) incurred the highest loss at 7.15%, closing at a market price of Rs 610 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red zone, with the exception of Mutual Fund, Non-Life Insurance, and Microfinance Index. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Index suffered the most significant loss at 2.09%, while the Mutual Fund Index saw the highest gain at 2.16%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19432', 'image' => '20231211035244_collage (7).jpg', 'article_date' => '2023-12-11 15:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19703', 'article_category_id' => '1', 'title' => 'Price of Radish Declines, Farmers Struggle to Find Market for Tomatoes ', 'sub_title' => '', 'summary' => 'December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Kalimati Fruit and Vegetable Market Development Committee, the price of red radish has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee, the average price of red radish per kg a month ago was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, farmers of Sindhupalchowk are struggling to find market for the tomatoes produced in the district. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates of tomatoes are produced daily in the district while hardly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates are sold. As a result, the tomatoes have started rotting in the fields.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Nepal, local elected representative of Chautara, said that the farmers who produced and sold about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million kilos of tomatoes in the last fiscal year have suffered losses due to lack of market this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Resham Bahadur Alemgar, a farmer from Chautara, said that he had sold tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">370,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> last year but the sale this year is not even worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I spent around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on seeds, fertilizer, medicine, etc," he said. I am struggling to get returns on investment even though I have produced plentiful tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19431', 'image' => '20231211032603_rad-pin-3.jpg', 'article_date' => '2023-12-11 15:25:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19701', 'article_category_id' => '1', 'title' => 'Shortage of Australian and Canadian Dollar as Students Prefer Cash over Electronic Means', 'sub_title' => '', 'summary' => 'December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market. Although students pay university fees through bank transfer, there is a shortage because they use cash for personal expenses. The people in general have complained that they are not getting proper facilities for foreign currency exchange even from the counter of Nepal Rastra Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank is currently providing students with cash of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Australian and Canadian dollars after confirmation of visas and air tickets. If they require more than this amount, the students can get it through the verified electronic card issued by banks and financial institutions, said Dilliram Pokharel, deputy spokesperson of Nepal Rastra Bank. He admitted that due to the low cash reserve, the students could not be provided with adequate facilities as per their demand.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in the number of students going to Australia and Canada, there is an increase in pressure for currency exchange through the medium of cash," he said. However, he said that there is no problem for currency exchange through other means.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the central bank has made arrangements for foreign exchange facilities to students going abroad for higher education based on the 'No Objection Letter' issued by the Ministry of Education, Science and Technology. Students are given the facility on the basis of theitr university bill to pay the fees. In addition, up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is also provided for their passports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson Pokharel said that the tendency to look for exchange facilities in cash has led to a shortage. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Currently, we have enough foreign currency reserves so there is no problem in providing the same facilities as specified," he said, "The problem has surfaced because they seek cash rather than such facility through electronic means." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Yuvraj Karki, the operations manager of Oli and Associates, an organization that has been providing educational consultancy to students, said that students consider it a hassle to carry dollar cards. He shared that if the dollar card is converted into local currency, it will be expensive, so the students look for cash as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the instructions of the central bank, students can also exchange a minimum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to a maximum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for the annual subsistence expenses. Accordingly, they can avail up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to study in Bangladesh and Pakistan, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for China, Malaysia, Thailand and the Philippines, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Singapore and South Korea, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Canada, America, Australia and European countries and up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the end of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pandemic, the number of Nepalis going abroad for higher education is increasing. Due to this, the capital flight from Nepal for higher education is also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of NRB, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent for higher education in the first three months of the current fiscal year. During the corresponding period of last fiscal year, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.89</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were spent for higher education. Last year, a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">142</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion were spent on higher education abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Ministry of Education, Science and Technology, by mid-October of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people have received no objection letters to study abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the ministry Shiva Kumar Sapkota said that most of the students have applied for studies in Australia, Canada, Japan, America and the UK. In the last fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people were issued no objection letters by the ministry for studying abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19430', 'image' => '20231211030215_1702262066.collection-dollar-money-usa-canada-australia_359031-4146.jpg', 'article_date' => '2023-12-11 15:01:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19719', 'article_category_id' => '1', 'title' => 'Government Refunds Taxes worth Rs 38 billion in Nine Years', 'sub_title' => '', 'summary' => 'December 13: The government has refunded Rs 38 billion in taxes in the last nine years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The government has refunded Rs 38 billion in taxes in the last nine years. According to the Inland Revenue Department (IRD), it received claims for tax refunds equal to Rs 99.47 from the fiscal year 2071/72 to 2079/80. Out of the total claims, the government has approved and refunded Rs 38.6 billion. According to the department, claims for tax refund have increased in recent years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, out of 840 claims for tax refund worth Rs 19.1 billion, the department approved tax rebate of Rs 4.58 billion as claimed by 498 taxpayers. The rest of the claims were rejected by the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago, in the fiscal year 2071/72, the tax rebate amount approved by the Rs 5.5 billion out of the total claims of Rs 9.91 billion. The government has been refunding taxes incurred on diplomatic missions, various exemption facilities, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there has been an increase in claims from diplomats as well. In the last fiscal year alone, the government returned Rs 1 billion of taxes to diplomatic missions and diplomats. Their claim made by them were much higher than the amount refunded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In its annual report published recently, the department has mentioned that the claimants did not submit the bill properly and did not complete the process according to the law. As a result, the approval amount was less than the claims made for tax refund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, Section 25 of the Value Added Act, 2052, has a provision to refund diplomatic missions and diplomats recognized by the Ministry of Foreign Affairs if they make claims within three years from the date of transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In same section, there is a provision of tax rebate to foreign tourists, and to contractors and pharmaceutical companies in case of overpayment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It seems that the exemptions provided by the tax authorities have resulted in reduction in revenue generation," said a former revenue secretary, adding, "The trend of arbitrary tax withdrawal based on the decisions of the Council of Ministers has been seen in recent years. It is necessary to stop it.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He believes that the government should not give back rebate arbitrarily.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19447', 'image' => '20231213112126_1702439925.20230713124510_2307- editorial.jpg', 'article_date' => '2023-12-13 11:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19717', 'article_category_id' => '1', 'title' => 'FMTC Start Purchasing Paddy from Farmers on Time', 'sub_title' => '', 'summary' => 'December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers. FMTC has set a target of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion this year. FMTC, which has always been late in purchasing paddy, has initiated the process on time this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, FMTC started the process of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">989.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million. The company, which started procurement very late last year, did not even meet half of its target. Last year, FMTC purchased only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13,400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">411.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sharmila Subedi, information officer of the company, informed New Business Age that the company has already started purchasing paddy from Mahendranagar, Dhangadhi, Rajapur and Nepalganj areas. According to her, FMTC has already purchased </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from these areas so far. Apart from this, FMTC is also preparing to buy paddy from Bhairahwa, Birgunj, Janakpur, Lahan, Biratnagar, Birtamod and Jumla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“This year, we have started the procurement process with a big target. In the past few years, when we purchased late, we could not buy paddy as per the target. On top of that, we had to suffer food shortage. So this year, we have started purchasing paddy on time with a big target,” said Subedi, adding, “Procurement has been started in collaboration with local bodies even in places other than the main procurement center."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current fiscal year (FY), the government has set a minimum support price of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,098</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for coarse paddy and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,362</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for medium-sized paddy. This price is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">231</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">234</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> higher than the price of previous year respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, the FMTC aims to purchase a maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from Rajapur area of Bardiya and a minimum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons from Jumla. FMTC will purchase local Marsi paddy from Jumla.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19445', 'image' => '20231213111806_20230202025230_1675301519.jpg', 'article_date' => '2023-12-13 11:17:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19716', 'article_category_id' => '1', 'title' => 'NOC Executive Director Thani Steps Down', 'sub_title' => '', 'summary' => 'December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post. Thani submitted his resignation to the NOC Board of Directors on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A board member of NOC said citing the letter submitted to the NOC Board of Directors that Thani resigned from his post voluntarily.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The NOC is headed by commerce secretary. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before his appointment as the executive director of NOC, Thani was the president of Center for Democratic Engineers, an organization of engineers affiliated to the Nepali Congress. He spent more than one and a half years in the state-owned NOC.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19444', 'image' => '20231213104529_1702440517.2 jane.jpg', 'article_date' => '2023-12-13 10:44:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19715', 'article_category_id' => '1', 'title' => 'Vedic Research Guthi to Carry Out Research on AI', 'sub_title' => '', 'summary' => 'The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 12: The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Swami Keshabananda, the founder of the Guthi, said that they are actively collecting data for AI research, emphasizing the Guthi's foundational purpose to delve into AI exploration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Keshabananda mentioned the potential ease of learning and teaching practices through the incorporation of Vedic literature into AI via effective data management. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He further elucidated that the Guthi is meticulously planning and executing these initiatives in collaboration with the IT sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "We are diligently working on developing a comprehensive plan," shared Dr. Keshabananda. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In an innovative approach, the institution envisions deploying students with expertise in Sanskrit literature and the IT sector as the driving force behind this research. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19443', 'image' => '20231213063040_collage (8).jpg', 'article_date' => '2023-12-13 06:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19714', 'article_category_id' => '1', 'title' => 'Human, Trade Union Rights Situation of Education Workers in Asia-Pacific Disappointing ', 'sub_title' => '', 'summary' => 'December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing. A report entitled "State of Rights of Education Workers in Asia-Pacific (2021-22)" launched by the Education International: Asia-Pacific (EIAP) highlighted the persistence of long-standing tensions and emergence of new conundrums in the human and trade union rights situation of teachers and education support personnel in the Asia-Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, most of the countries or territories in the Asia-Pacific accord legal recognition to the human, civil and political rights of teachers. However, in a considerable number of states, these rights are either totally denied to citizens, in general, on sectarian grounds or particularly on the basis of the teachers' sectoral profile. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Teachers have also been particularly targeted and victimized by arbitrary arrests, torture and violent dispersals. Meanwhile, discriminatory practices based on sex, race, ethnicity, citizenship or disability in hiring, promotion or pay policies were observed during the survey. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, low salaries and the dismal working conditions of teachers, including large class sizes and long work hours, continue to be major issues, according to the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sixty-Seven percent of total EIAP member organizations (63) in the region have responded to the survey, representing 24 countries out of 36 countries or territories in all five sub-regions, namely: South Asia, Southeast Asia, the Pacific, North Asia, and West Asia. Out of the total number of respondent unions, 29.73% represent the public sector only, while 43 24% represent mostly the public sector. The respondents were distributed across sectors from early childhood education to education support personnel, with most (86.49%) representing primary and secondary education workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the report launch, EIAP regional director, Anand Singh, dubbed the report the "first of its kind," providing an overview of the human and trade union rights situation, particularly for teachers and education support personnel in the Asia-Pacific region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Researcher Frank Lioyd Tiongson called for the improvement of the human and trade union rights of education workers while Institutional School Teachers' Union (ISTU) President Hom Kumar Thapa said private teachers have been denied their political and trade union rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19442', 'image' => '20231212050331_teach.jpg', 'article_date' => '2023-12-12 17:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19713', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Relaunches Direct Flights between Kathmandu and Chongqing', 'sub_title' => '', 'summary' => 'December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Issuing a statement on Tuesday, the airline company said that direct flights between the two cities commenced on December 12. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">This historic event marks a significant milestone in Himalaya Airlines' commitment to enhancing connectivity and promoting bilateral ties between Nepal and China, added the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">According to the company, the Kathmandu-Chongqing-Kathmandu route will offer passengers seamless travel options between the capital city of Nepal and the bustling metropolis of Chongqing, China. This direct link between the cities reflects Himalaya Airlines' dedication in providing convenient, safe, and efficient travel, the statement further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Chongqing, renowned for its rich cultural heritage, modern urban landscape, and economic dynamism, presents itself as an attractive destination for Nepali travelers, offering a unique blend of historical landmarks, culinary delights, and technological advancements, the company added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said that the first outbound flight, H9 787, departed from Tribhuvan International Airport at 10:07 hours (local time) and reached Chongqing-based Jiangbei International Airport at 15:50 hours (local time), with a flight duration of 3 hours and 14 minutes. A total of 125 passengers boarded the first flight. The return flight was scheduled to depart from Chongqing, at 16:25 hours (local time) and is expected to arrive in Kathmandu at 18:35 hours (local time).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it will be operating two flights a week between the cities on every Tuesday and Saturday. This flight signifies the fourth direct connectivity of Himalaya Airlines between China and Nepal including Beijing, Qingdao</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">and Shanghai.</span></span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“The relaunch of this route signifies Himalaya Airline’s commitment to expanding its network, catering to the evolving needs of travelers, and furthering its mission to provide direct, reliable and comfortable air travel experiences. With this addition to its network, Himalaya Airlines aims to facilitate business opportunities, tourism, and cultural interactions between Nepal and China, contributing to the strengthening of bilateral relations,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it aims to create memorable travel experiences while maintaining the highest safety standards. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“We look forward to welcoming travelers on board our flights and helping them explore the beauty and opportunities that both Nepal and China have to offer.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19441', 'image' => '20231212042159_A 319.jpg', 'article_date' => '2023-12-12 16:21:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19712', 'article_category_id' => '1', 'title' => 'NEPSE Posts Impressive Surge of 36.86 to Close at 1985.44', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 297 scrips were traded through 95,433 transactions, involving 12,463,168 shares, amounting to Rs 4.30 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This upward momentum in the stock market has been attributed to the positive sentiment generated by the recent first quarterly review of the monetary policy by the Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NRB's decision to reduce the risk weightage on margin lending against shares from 150% to 125% has been particularly influential in fostering optimism among investors, propelling the market on an upward trajectory.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM Cements LTD (SHIVM) led the way with the highest turnover, recording Rs 18 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Bottlers Nepal Limited (BNL), Dhaulagirii Laghubitta Bittiya Sanstha Limited (DLBS), Nepal Republic Media Limited (NRM), and Sonapur Minerals and Oil Limited (SONA) each saw substantial gains of 10%, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) incurred the highest loss at 5.11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors closed in the green zone. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hotels and Tourism Index saw the most significant gain at 4.33%, while the Banking SubIndex witnessed least increase of 0.21%. </span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19440', 'image' => '20231212033814_collage (9).jpg', 'article_date' => '2023-12-12 15:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19711', 'article_category_id' => '1', 'title' => 'Conservationists Express Concern over Mountains Turning Bare ', 'sub_title' => '', 'summary' => 'December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Arguing that snow has been melting at a fast pace resulting in the mountains turning bare and thereby affecting the entire ecosystem, they urged all sides concerned to continue efforts to minimize the impacts of climate change. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Owing to global warming, mountains are losing snow cover. It will turn mountain climbing to a mere rock climbing," warned Dr Ghanashyam Gurung, chief of World Wildlife Fund in Nepal and conservationist, stressing that there is no option but to adopt and scale up measures for climate change mitigation and adaptation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He expressing such views during a session focused on fading snow cover and impacts on livelihood in the ongoing International Mountain Festival in Pokhara on Monday. Gurung said Nepal was witnessing fast melting of snow, thereby leaving mountains bare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that local initiatives are imperative to minimize the impacts of climate change to which Nepal has negligible role. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Those culpable for climate change are rich and industrialized countries. However, Nepal must not stay idle, but build moral grounds to voice its concerns to the international community," Gurung opined. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Another speaker Dr Amina Maharjan, who is an expert on livelihood and migration, argued that mountains turning bare are the growing concerns not only of Nepal but of the entire Hindu Kush region. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Ecology, agriculture, tourism, and health are having negative impacts of climate change," she said, stressing the need of proper adaptation to minimize the worsening situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flashflood that occurred in Seti River in 2012 and the floods in Kagbeni some months ago were caused by climate change, according to Maharjan. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">She expressed concerns about inadequate discussions and research on the impacts of climate change on health. The spread of disease and health-related problems are rising of late, she warned. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Nepal should make its voice heard in the global arena to receive compensation under the Loss and Damage Fund,” she suggested. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noted journalist Kunda Dixit expressed his view that the time has come to term climate change a 'climate crisis'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said that water crisis is induced by climate change. As the rivers and water sources are drying up, it must be considered as an urgent issue by the government. Dixit suggested to promote the use of renewable energy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Researcher on climate change and food security, Dr Jagannath Adhikari, said that mountains have close ties with the culture of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Once the mountains lose snow, we lose our culture," he argued, warning that Pokhara could no more enjoy the majestic sight of snow-capped mountains. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Melting of snow has direct impacts on agricultural products, he said adding that both national and international initiatives must be continued to cope with the impacts of climate change. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => 'mountains, climate, change, impact, snow, melting, Pokhara, Nepal, Himalayas, global, warming, Nepal, culture, ecosystem', 'description' => '', 'sortorder' => '19439', 'image' => '20231212023147_NL-Manang-IMG_20231101_104951.JPG', 'article_date' => '2023-12-12 14:30:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19710', 'article_category_id' => '1', 'title' => 'Banks Start Reducing Interest Rates after First Quarterly Review of Monetary Policy by NRB', 'sub_title' => '', 'summary' => 'December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Generally, banks change the interest rate at the end of a month, but they implemented the new interest rate in the middle of the month after the change in the policy rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the central bank, commercial banks can change the interest rates with immediate effect if there is a change in the bank rate and policy rate provided that the banks publish the notice about the change in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing laws, banks should publish the interest rate applicable on deposits for each month before the beginning of the month. According to this provision, banks have been publishing notices on the last day of every month that give information about the interest rate applicable for the next month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the review of the monetary policy on Friday, the central bank reduced the bank rate from 7.5 percent to 7 percent and the policy rate from 6.5 percent to 5.5 percent. Following the central bank’s move, the banks also started reducing the interest rates with immediate effect by publishing notices.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far NIC Asia Bank, Kumari Bank and NMB Bank have published notices and reduced the interest rates. NIC Asia Bank published a notice on Sunday and fixed the maximum interest rate on fixed deposits at 8.67 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, NIC Asia Bank said that the new interest rate of the bank will be applicable only from mid-December. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumari Bank has reduced the interest rate with effect from Sunday. Kumari has set a maximum interest rate of 9.61 percent on individual term deposits, down from 10.10 percent in the past two months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NMB Bank has also implemented the new interest rate from Monday. NMB Bank had been giving a maximum interest rate of 9.50 percent on individual term deposits, but has reduced it to 9 percent from Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, banks have excess liquidity due to the lack of credit flow compared to the increase in deposit collection. As the liquidity situation eased, the central bank reduced the policy rates making it easier for the banks to reduce the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of the NRB, banks currently have the capacity to extend loans of more than Rs 600 billion. However, due to non-expansion of credit flow, the interbank interest rate has fallen to one percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there has been excess liquidity in the banking system, the central bank has been mopping excess liquidity from the market through deposit collection tools. Since November 23, the central bank has withdrawn about Rs 150 billion from the market through deposit collection tools. Of that amount, Rs 45 billion have matured and have been returned to the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NRB records show that commercial banks have a total deposits of Rs 5289 billion while they provided loans of Rs 4407 billion. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19438', 'image' => '20231212010229_Banks - Copy.jpg', 'article_date' => '2023-12-12 13:01:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19708', 'article_category_id' => '1', 'title' => 'Government Holds Meeting with Donors ahead of Third Investment Summit ', 'sub_title' => '', 'summary' => 'December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Finance Minister Dr Prakash Sharan Mahat, the meeting focused on generating ideas for making the Summit effective and result-oriented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are seeking inputs from investors in regard with investment atmosphere in Nepal and areas they believe need improvements," the Finance Minister said, adding that Nepal presents an environment conducive for investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The demand side is higher than supplies in Nepal, making it an attractive destination for investment," Finance Minister Mahat further said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that there is high potential for investment in hydropower, tourism, information technology and agricultural sectors in Nepal. According to the minister, Nepal presents a favorable ground for investment in small and medium enterprises as well. He added the government is seriously working to address challenges in the investment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The bill regarding laws against money laundering is likely to be endorsed by the parliament. We could work toward the achievement of Sovereign Credit Rating before the Summit. We are dedicated to remove all sorts of challenges and hurdles for investment," the Finance Minister assured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Chief Secretary Dr Baikuntha Aryal said the government is effortful to make policy-level and procedural improvements for investment. The meeting also discussed issues regarding projects to be showcased during the Summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has already formed separate committees for the Summit like the director committee led by the finance minister, the implementation committee led by chief secretary and the technical committee led by secretary of the Ministry of Industry, Commerce and Supplies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first meeting of the director committee took place on November 26 and the implementation committee meeting on December 5. But the technical committee meeting is yet to be organised. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The director committee is tasked with approving the conference schedule and model, identifying the areas that require policy reforms to create a climate for the conference and looking after the whole affairs of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's members are the foreign minister, the energy minister, the physical infrastructure minister, the culture and tourism minister, the industry minister, the agriculture minister, the development urban minister and the federal affairs minister, vice chairperson of the National Planning Commission, chief secretary, governor of the Nepal Rastra Bank, secretary of the Office of Prime Minister and Council of Ministers, finance secretary, industry secretary and chairpersons of three umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The implementation committee is tasked with preparing the proposal to be submitted to the director committee, in coordination with the stakeholders and providing necessary help to the director committee for the entire preparation of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Members of the committee are secretaries of the line ministries, deputy governor of the Nepal Rastra Bank and chairperson of the umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The technical committee is tasked with developing the project concept after analysing the status of the projects to be presented at the conference, developing attractive and reliable projects to be proposed and preparing various memorandums of understandings and agreements. The committee members are joint secretaries of the line ministries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19436', 'image' => '20231212114012_20231126113943_20190307120527_Clipboard24.jpg', 'article_date' => '2023-12-12 11:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19707', 'article_category_id' => '1', 'title' => 'Nepal Exported Handicraft Products worth Rs 12 Billion in a Year: FHAN ', 'sub_title' => '', 'summary' => 'December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Association of Nepal (FHAN). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Associations of Nepal (FHAN). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation made this revelation on Monday during a press meet organized to inform about the upcoming 20th Handicraft Trade Fair and 18th Handicraft Competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation's President Prachanda Shakya informed that the handicraft products made in Nepal were exported to over 60 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali handicraft products have made significant contribution to the national economy, thus, warranting special attention from the government and others concerned for its protection and promotion, he stressed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation is organising the 18th Handicraft Competition and the 20th Handicraft Trade Fair at Hotel Annapurna, Durbar Marg, from December 14 to 18. The organisers informed that the fair will have three pavilions with 130 stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The fair is expected to draw more than 100,000 visitors, according to the organizers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anyone securing first position in the competition will get cash prize of Rs 50,000, while the second position holder will receive Rs 30,000 and the third-place finisher will bag Rs 20,000. Similarly, 10 senior citizens and noted artistes of over 70 years would be honoured on the occasion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19435', 'image' => '20231212103112_20170913113102_sect.jpg', 'article_date' => '2023-12-12 10:30:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19706', 'article_category_id' => '1', 'title' => 'New Butwal 220 KV Transmission Line Comes into Operation', 'sub_title' => '', 'summary' => 'A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Energy, Shakti Bahadur Basnet, officially inaugurated the 90-kilometer transmission line on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stretching from Khurkot in Kushma Municipality-2, Parbat, to the New Butwal Substation at Suryabasti in Sunwal Municipality-13, Bardhaghat Susta Paschim, the transmission line is set to transmit power generated from hydropower projects in the Kaligandaki river and its tributaries. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The line boasts a remarkable capacity to transmit 1,200 megawatts of power.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Basnet emphasized the pivotal role of the Kaligandaki corridor transmission line in facilitating power supply across the east-west regions of Nepal and supporting trans-border power trade. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Executive Director of Nepal Electricity Authority (NEA), Kulman Ghising, highlighted the New Butwal Substation as a key hub for power pooling, facilitating increased power consumption at the local level, east-west power supply, and power export to India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line, consisting of 236 towers, is poised to significantly enhance the internal power distribution and trans-border transmission system in the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its completion has already led to improved credibility of the integrated power system and increased power voltage in Nawalparasi and Rupandehi districts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the new transmission line will enable the integration of power generated in the districts of Mustang and Myagdi into the national grid, utilizing the same transmission line.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The entire project, completed with an investment of Rs 11 billion, saw contributions from the government, NEA, and the South Asia Sub-Regional Economic Cooperation of the Asian Development Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plans are afoot for expanding the power transmission grid from the New Butwal Substation to Bardaghat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, another 220 KV power supply line is set to be established from Hetauda to New Butwal, further enhancing the country's power infrastructure and ensuring a more resilient and reliable power supply network. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19434', 'image' => '20231212060510_collage (7).jpg', 'article_date' => '2023-12-12 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19704', 'article_category_id' => '1', 'title' => 'NEPSE Records Decline of 15.40 to Close at 1948.57', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Financial experts and stock analysts attribute today's correction to the natural course of market dynamics following yesterday's remarkable surge of over 100 points. The day's turnover reached Rs 4.84 billion, indicating increased investor activity and a prevailing positive sentiment among them.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 303 scrips were traded in 109,918 transactions, involving 14,698,517 shares, amounting to Rs 4.84 billion turnover. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONAPUR) took the lead in turnover with Rs 25 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bottler Nepal Limited (BNL), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), and Dolti Power Company Limited (DOLTI), each saw a significant gain of 10%, triggering a positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the downside, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) incurred the highest loss at 7.15%, closing at a market price of Rs 610 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red zone, with the exception of Mutual Fund, Non-Life Insurance, and Microfinance Index. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Index suffered the most significant loss at 2.09%, while the Mutual Fund Index saw the highest gain at 2.16%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19432', 'image' => '20231211035244_collage (7).jpg', 'article_date' => '2023-12-11 15:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19703', 'article_category_id' => '1', 'title' => 'Price of Radish Declines, Farmers Struggle to Find Market for Tomatoes ', 'sub_title' => '', 'summary' => 'December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Kalimati Fruit and Vegetable Market Development Committee, the price of red radish has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee, the average price of red radish per kg a month ago was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, farmers of Sindhupalchowk are struggling to find market for the tomatoes produced in the district. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates of tomatoes are produced daily in the district while hardly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates are sold. As a result, the tomatoes have started rotting in the fields.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Nepal, local elected representative of Chautara, said that the farmers who produced and sold about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million kilos of tomatoes in the last fiscal year have suffered losses due to lack of market this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Resham Bahadur Alemgar, a farmer from Chautara, said that he had sold tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">370,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> last year but the sale this year is not even worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I spent around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on seeds, fertilizer, medicine, etc," he said. I am struggling to get returns on investment even though I have produced plentiful tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19431', 'image' => '20231211032603_rad-pin-3.jpg', 'article_date' => '2023-12-11 15:25:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19701', 'article_category_id' => '1', 'title' => 'Shortage of Australian and Canadian Dollar as Students Prefer Cash over Electronic Means', 'sub_title' => '', 'summary' => 'December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market. Although students pay university fees through bank transfer, there is a shortage because they use cash for personal expenses. The people in general have complained that they are not getting proper facilities for foreign currency exchange even from the counter of Nepal Rastra Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank is currently providing students with cash of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Australian and Canadian dollars after confirmation of visas and air tickets. If they require more than this amount, the students can get it through the verified electronic card issued by banks and financial institutions, said Dilliram Pokharel, deputy spokesperson of Nepal Rastra Bank. He admitted that due to the low cash reserve, the students could not be provided with adequate facilities as per their demand.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in the number of students going to Australia and Canada, there is an increase in pressure for currency exchange through the medium of cash," he said. However, he said that there is no problem for currency exchange through other means.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the central bank has made arrangements for foreign exchange facilities to students going abroad for higher education based on the 'No Objection Letter' issued by the Ministry of Education, Science and Technology. Students are given the facility on the basis of theitr university bill to pay the fees. In addition, up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is also provided for their passports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson Pokharel said that the tendency to look for exchange facilities in cash has led to a shortage. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Currently, we have enough foreign currency reserves so there is no problem in providing the same facilities as specified," he said, "The problem has surfaced because they seek cash rather than such facility through electronic means." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Yuvraj Karki, the operations manager of Oli and Associates, an organization that has been providing educational consultancy to students, said that students consider it a hassle to carry dollar cards. He shared that if the dollar card is converted into local currency, it will be expensive, so the students look for cash as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the instructions of the central bank, students can also exchange a minimum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to a maximum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for the annual subsistence expenses. Accordingly, they can avail up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to study in Bangladesh and Pakistan, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for China, Malaysia, Thailand and the Philippines, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Singapore and South Korea, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Canada, America, Australia and European countries and up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the end of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pandemic, the number of Nepalis going abroad for higher education is increasing. Due to this, the capital flight from Nepal for higher education is also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of NRB, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent for higher education in the first three months of the current fiscal year. During the corresponding period of last fiscal year, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.89</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were spent for higher education. Last year, a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">142</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion were spent on higher education abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Ministry of Education, Science and Technology, by mid-October of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people have received no objection letters to study abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the ministry Shiva Kumar Sapkota said that most of the students have applied for studies in Australia, Canada, Japan, America and the UK. In the last fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people were issued no objection letters by the ministry for studying abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19430', 'image' => '20231211030215_1702262066.collection-dollar-money-usa-canada-australia_359031-4146.jpg', 'article_date' => '2023-12-11 15:01:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19719', 'article_category_id' => '1', 'title' => 'Government Refunds Taxes worth Rs 38 billion in Nine Years', 'sub_title' => '', 'summary' => 'December 13: The government has refunded Rs 38 billion in taxes in the last nine years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The government has refunded Rs 38 billion in taxes in the last nine years. According to the Inland Revenue Department (IRD), it received claims for tax refunds equal to Rs 99.47 from the fiscal year 2071/72 to 2079/80. Out of the total claims, the government has approved and refunded Rs 38.6 billion. According to the department, claims for tax refund have increased in recent years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, out of 840 claims for tax refund worth Rs 19.1 billion, the department approved tax rebate of Rs 4.58 billion as claimed by 498 taxpayers. The rest of the claims were rejected by the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago, in the fiscal year 2071/72, the tax rebate amount approved by the Rs 5.5 billion out of the total claims of Rs 9.91 billion. The government has been refunding taxes incurred on diplomatic missions, various exemption facilities, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there has been an increase in claims from diplomats as well. In the last fiscal year alone, the government returned Rs 1 billion of taxes to diplomatic missions and diplomats. Their claim made by them were much higher than the amount refunded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In its annual report published recently, the department has mentioned that the claimants did not submit the bill properly and did not complete the process according to the law. As a result, the approval amount was less than the claims made for tax refund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, Section 25 of the Value Added Act, 2052, has a provision to refund diplomatic missions and diplomats recognized by the Ministry of Foreign Affairs if they make claims within three years from the date of transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In same section, there is a provision of tax rebate to foreign tourists, and to contractors and pharmaceutical companies in case of overpayment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It seems that the exemptions provided by the tax authorities have resulted in reduction in revenue generation," said a former revenue secretary, adding, "The trend of arbitrary tax withdrawal based on the decisions of the Council of Ministers has been seen in recent years. It is necessary to stop it.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He believes that the government should not give back rebate arbitrarily.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19447', 'image' => '20231213112126_1702439925.20230713124510_2307- editorial.jpg', 'article_date' => '2023-12-13 11:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19717', 'article_category_id' => '1', 'title' => 'FMTC Start Purchasing Paddy from Farmers on Time', 'sub_title' => '', 'summary' => 'December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers. FMTC has set a target of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion this year. FMTC, which has always been late in purchasing paddy, has initiated the process on time this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, FMTC started the process of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">989.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million. The company, which started procurement very late last year, did not even meet half of its target. Last year, FMTC purchased only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13,400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">411.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sharmila Subedi, information officer of the company, informed New Business Age that the company has already started purchasing paddy from Mahendranagar, Dhangadhi, Rajapur and Nepalganj areas. According to her, FMTC has already purchased </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from these areas so far. Apart from this, FMTC is also preparing to buy paddy from Bhairahwa, Birgunj, Janakpur, Lahan, Biratnagar, Birtamod and Jumla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“This year, we have started the procurement process with a big target. In the past few years, when we purchased late, we could not buy paddy as per the target. On top of that, we had to suffer food shortage. So this year, we have started purchasing paddy on time with a big target,” said Subedi, adding, “Procurement has been started in collaboration with local bodies even in places other than the main procurement center."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current fiscal year (FY), the government has set a minimum support price of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,098</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for coarse paddy and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,362</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for medium-sized paddy. This price is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">231</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">234</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> higher than the price of previous year respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, the FMTC aims to purchase a maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from Rajapur area of Bardiya and a minimum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons from Jumla. FMTC will purchase local Marsi paddy from Jumla.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19445', 'image' => '20231213111806_20230202025230_1675301519.jpg', 'article_date' => '2023-12-13 11:17:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19716', 'article_category_id' => '1', 'title' => 'NOC Executive Director Thani Steps Down', 'sub_title' => '', 'summary' => 'December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post. Thani submitted his resignation to the NOC Board of Directors on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A board member of NOC said citing the letter submitted to the NOC Board of Directors that Thani resigned from his post voluntarily.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The NOC is headed by commerce secretary. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before his appointment as the executive director of NOC, Thani was the president of Center for Democratic Engineers, an organization of engineers affiliated to the Nepali Congress. He spent more than one and a half years in the state-owned NOC.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19444', 'image' => '20231213104529_1702440517.2 jane.jpg', 'article_date' => '2023-12-13 10:44:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19715', 'article_category_id' => '1', 'title' => 'Vedic Research Guthi to Carry Out Research on AI', 'sub_title' => '', 'summary' => 'The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 12: The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Swami Keshabananda, the founder of the Guthi, said that they are actively collecting data for AI research, emphasizing the Guthi's foundational purpose to delve into AI exploration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Keshabananda mentioned the potential ease of learning and teaching practices through the incorporation of Vedic literature into AI via effective data management. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He further elucidated that the Guthi is meticulously planning and executing these initiatives in collaboration with the IT sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "We are diligently working on developing a comprehensive plan," shared Dr. Keshabananda. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In an innovative approach, the institution envisions deploying students with expertise in Sanskrit literature and the IT sector as the driving force behind this research. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19443', 'image' => '20231213063040_collage (8).jpg', 'article_date' => '2023-12-13 06:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19714', 'article_category_id' => '1', 'title' => 'Human, Trade Union Rights Situation of Education Workers in Asia-Pacific Disappointing ', 'sub_title' => '', 'summary' => 'December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing. A report entitled "State of Rights of Education Workers in Asia-Pacific (2021-22)" launched by the Education International: Asia-Pacific (EIAP) highlighted the persistence of long-standing tensions and emergence of new conundrums in the human and trade union rights situation of teachers and education support personnel in the Asia-Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, most of the countries or territories in the Asia-Pacific accord legal recognition to the human, civil and political rights of teachers. However, in a considerable number of states, these rights are either totally denied to citizens, in general, on sectarian grounds or particularly on the basis of the teachers' sectoral profile. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Teachers have also been particularly targeted and victimized by arbitrary arrests, torture and violent dispersals. Meanwhile, discriminatory practices based on sex, race, ethnicity, citizenship or disability in hiring, promotion or pay policies were observed during the survey. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, low salaries and the dismal working conditions of teachers, including large class sizes and long work hours, continue to be major issues, according to the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sixty-Seven percent of total EIAP member organizations (63) in the region have responded to the survey, representing 24 countries out of 36 countries or territories in all five sub-regions, namely: South Asia, Southeast Asia, the Pacific, North Asia, and West Asia. Out of the total number of respondent unions, 29.73% represent the public sector only, while 43 24% represent mostly the public sector. The respondents were distributed across sectors from early childhood education to education support personnel, with most (86.49%) representing primary and secondary education workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the report launch, EIAP regional director, Anand Singh, dubbed the report the "first of its kind," providing an overview of the human and trade union rights situation, particularly for teachers and education support personnel in the Asia-Pacific region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Researcher Frank Lioyd Tiongson called for the improvement of the human and trade union rights of education workers while Institutional School Teachers' Union (ISTU) President Hom Kumar Thapa said private teachers have been denied their political and trade union rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19442', 'image' => '20231212050331_teach.jpg', 'article_date' => '2023-12-12 17:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19713', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Relaunches Direct Flights between Kathmandu and Chongqing', 'sub_title' => '', 'summary' => 'December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Issuing a statement on Tuesday, the airline company said that direct flights between the two cities commenced on December 12. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">This historic event marks a significant milestone in Himalaya Airlines' commitment to enhancing connectivity and promoting bilateral ties between Nepal and China, added the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">According to the company, the Kathmandu-Chongqing-Kathmandu route will offer passengers seamless travel options between the capital city of Nepal and the bustling metropolis of Chongqing, China. This direct link between the cities reflects Himalaya Airlines' dedication in providing convenient, safe, and efficient travel, the statement further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Chongqing, renowned for its rich cultural heritage, modern urban landscape, and economic dynamism, presents itself as an attractive destination for Nepali travelers, offering a unique blend of historical landmarks, culinary delights, and technological advancements, the company added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said that the first outbound flight, H9 787, departed from Tribhuvan International Airport at 10:07 hours (local time) and reached Chongqing-based Jiangbei International Airport at 15:50 hours (local time), with a flight duration of 3 hours and 14 minutes. A total of 125 passengers boarded the first flight. The return flight was scheduled to depart from Chongqing, at 16:25 hours (local time) and is expected to arrive in Kathmandu at 18:35 hours (local time).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it will be operating two flights a week between the cities on every Tuesday and Saturday. This flight signifies the fourth direct connectivity of Himalaya Airlines between China and Nepal including Beijing, Qingdao</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">and Shanghai.</span></span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“The relaunch of this route signifies Himalaya Airline’s commitment to expanding its network, catering to the evolving needs of travelers, and furthering its mission to provide direct, reliable and comfortable air travel experiences. With this addition to its network, Himalaya Airlines aims to facilitate business opportunities, tourism, and cultural interactions between Nepal and China, contributing to the strengthening of bilateral relations,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it aims to create memorable travel experiences while maintaining the highest safety standards. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“We look forward to welcoming travelers on board our flights and helping them explore the beauty and opportunities that both Nepal and China have to offer.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19441', 'image' => '20231212042159_A 319.jpg', 'article_date' => '2023-12-12 16:21:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19712', 'article_category_id' => '1', 'title' => 'NEPSE Posts Impressive Surge of 36.86 to Close at 1985.44', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 297 scrips were traded through 95,433 transactions, involving 12,463,168 shares, amounting to Rs 4.30 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This upward momentum in the stock market has been attributed to the positive sentiment generated by the recent first quarterly review of the monetary policy by the Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NRB's decision to reduce the risk weightage on margin lending against shares from 150% to 125% has been particularly influential in fostering optimism among investors, propelling the market on an upward trajectory.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM Cements LTD (SHIVM) led the way with the highest turnover, recording Rs 18 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Bottlers Nepal Limited (BNL), Dhaulagirii Laghubitta Bittiya Sanstha Limited (DLBS), Nepal Republic Media Limited (NRM), and Sonapur Minerals and Oil Limited (SONA) each saw substantial gains of 10%, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) incurred the highest loss at 5.11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors closed in the green zone. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hotels and Tourism Index saw the most significant gain at 4.33%, while the Banking SubIndex witnessed least increase of 0.21%. </span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19440', 'image' => '20231212033814_collage (9).jpg', 'article_date' => '2023-12-12 15:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19711', 'article_category_id' => '1', 'title' => 'Conservationists Express Concern over Mountains Turning Bare ', 'sub_title' => '', 'summary' => 'December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Arguing that snow has been melting at a fast pace resulting in the mountains turning bare and thereby affecting the entire ecosystem, they urged all sides concerned to continue efforts to minimize the impacts of climate change. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Owing to global warming, mountains are losing snow cover. It will turn mountain climbing to a mere rock climbing," warned Dr Ghanashyam Gurung, chief of World Wildlife Fund in Nepal and conservationist, stressing that there is no option but to adopt and scale up measures for climate change mitigation and adaptation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He expressing such views during a session focused on fading snow cover and impacts on livelihood in the ongoing International Mountain Festival in Pokhara on Monday. Gurung said Nepal was witnessing fast melting of snow, thereby leaving mountains bare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that local initiatives are imperative to minimize the impacts of climate change to which Nepal has negligible role. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Those culpable for climate change are rich and industrialized countries. However, Nepal must not stay idle, but build moral grounds to voice its concerns to the international community," Gurung opined. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Another speaker Dr Amina Maharjan, who is an expert on livelihood and migration, argued that mountains turning bare are the growing concerns not only of Nepal but of the entire Hindu Kush region. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Ecology, agriculture, tourism, and health are having negative impacts of climate change," she said, stressing the need of proper adaptation to minimize the worsening situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flashflood that occurred in Seti River in 2012 and the floods in Kagbeni some months ago were caused by climate change, according to Maharjan. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">She expressed concerns about inadequate discussions and research on the impacts of climate change on health. The spread of disease and health-related problems are rising of late, she warned. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Nepal should make its voice heard in the global arena to receive compensation under the Loss and Damage Fund,” she suggested. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noted journalist Kunda Dixit expressed his view that the time has come to term climate change a 'climate crisis'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said that water crisis is induced by climate change. As the rivers and water sources are drying up, it must be considered as an urgent issue by the government. Dixit suggested to promote the use of renewable energy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Researcher on climate change and food security, Dr Jagannath Adhikari, said that mountains have close ties with the culture of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Once the mountains lose snow, we lose our culture," he argued, warning that Pokhara could no more enjoy the majestic sight of snow-capped mountains. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Melting of snow has direct impacts on agricultural products, he said adding that both national and international initiatives must be continued to cope with the impacts of climate change. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => 'mountains, climate, change, impact, snow, melting, Pokhara, Nepal, Himalayas, global, warming, Nepal, culture, ecosystem', 'description' => '', 'sortorder' => '19439', 'image' => '20231212023147_NL-Manang-IMG_20231101_104951.JPG', 'article_date' => '2023-12-12 14:30:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19710', 'article_category_id' => '1', 'title' => 'Banks Start Reducing Interest Rates after First Quarterly Review of Monetary Policy by NRB', 'sub_title' => '', 'summary' => 'December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Generally, banks change the interest rate at the end of a month, but they implemented the new interest rate in the middle of the month after the change in the policy rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the central bank, commercial banks can change the interest rates with immediate effect if there is a change in the bank rate and policy rate provided that the banks publish the notice about the change in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing laws, banks should publish the interest rate applicable on deposits for each month before the beginning of the month. According to this provision, banks have been publishing notices on the last day of every month that give information about the interest rate applicable for the next month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the review of the monetary policy on Friday, the central bank reduced the bank rate from 7.5 percent to 7 percent and the policy rate from 6.5 percent to 5.5 percent. Following the central bank’s move, the banks also started reducing the interest rates with immediate effect by publishing notices.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far NIC Asia Bank, Kumari Bank and NMB Bank have published notices and reduced the interest rates. NIC Asia Bank published a notice on Sunday and fixed the maximum interest rate on fixed deposits at 8.67 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, NIC Asia Bank said that the new interest rate of the bank will be applicable only from mid-December. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumari Bank has reduced the interest rate with effect from Sunday. Kumari has set a maximum interest rate of 9.61 percent on individual term deposits, down from 10.10 percent in the past two months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NMB Bank has also implemented the new interest rate from Monday. NMB Bank had been giving a maximum interest rate of 9.50 percent on individual term deposits, but has reduced it to 9 percent from Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, banks have excess liquidity due to the lack of credit flow compared to the increase in deposit collection. As the liquidity situation eased, the central bank reduced the policy rates making it easier for the banks to reduce the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of the NRB, banks currently have the capacity to extend loans of more than Rs 600 billion. However, due to non-expansion of credit flow, the interbank interest rate has fallen to one percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there has been excess liquidity in the banking system, the central bank has been mopping excess liquidity from the market through deposit collection tools. Since November 23, the central bank has withdrawn about Rs 150 billion from the market through deposit collection tools. Of that amount, Rs 45 billion have matured and have been returned to the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NRB records show that commercial banks have a total deposits of Rs 5289 billion while they provided loans of Rs 4407 billion. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19438', 'image' => '20231212010229_Banks - Copy.jpg', 'article_date' => '2023-12-12 13:01:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19708', 'article_category_id' => '1', 'title' => 'Government Holds Meeting with Donors ahead of Third Investment Summit ', 'sub_title' => '', 'summary' => 'December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Finance Minister Dr Prakash Sharan Mahat, the meeting focused on generating ideas for making the Summit effective and result-oriented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are seeking inputs from investors in regard with investment atmosphere in Nepal and areas they believe need improvements," the Finance Minister said, adding that Nepal presents an environment conducive for investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The demand side is higher than supplies in Nepal, making it an attractive destination for investment," Finance Minister Mahat further said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that there is high potential for investment in hydropower, tourism, information technology and agricultural sectors in Nepal. According to the minister, Nepal presents a favorable ground for investment in small and medium enterprises as well. He added the government is seriously working to address challenges in the investment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The bill regarding laws against money laundering is likely to be endorsed by the parliament. We could work toward the achievement of Sovereign Credit Rating before the Summit. We are dedicated to remove all sorts of challenges and hurdles for investment," the Finance Minister assured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Chief Secretary Dr Baikuntha Aryal said the government is effortful to make policy-level and procedural improvements for investment. The meeting also discussed issues regarding projects to be showcased during the Summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has already formed separate committees for the Summit like the director committee led by the finance minister, the implementation committee led by chief secretary and the technical committee led by secretary of the Ministry of Industry, Commerce and Supplies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first meeting of the director committee took place on November 26 and the implementation committee meeting on December 5. But the technical committee meeting is yet to be organised. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The director committee is tasked with approving the conference schedule and model, identifying the areas that require policy reforms to create a climate for the conference and looking after the whole affairs of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's members are the foreign minister, the energy minister, the physical infrastructure minister, the culture and tourism minister, the industry minister, the agriculture minister, the development urban minister and the federal affairs minister, vice chairperson of the National Planning Commission, chief secretary, governor of the Nepal Rastra Bank, secretary of the Office of Prime Minister and Council of Ministers, finance secretary, industry secretary and chairpersons of three umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The implementation committee is tasked with preparing the proposal to be submitted to the director committee, in coordination with the stakeholders and providing necessary help to the director committee for the entire preparation of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Members of the committee are secretaries of the line ministries, deputy governor of the Nepal Rastra Bank and chairperson of the umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The technical committee is tasked with developing the project concept after analysing the status of the projects to be presented at the conference, developing attractive and reliable projects to be proposed and preparing various memorandums of understandings and agreements. The committee members are joint secretaries of the line ministries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19436', 'image' => '20231212114012_20231126113943_20190307120527_Clipboard24.jpg', 'article_date' => '2023-12-12 11:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19707', 'article_category_id' => '1', 'title' => 'Nepal Exported Handicraft Products worth Rs 12 Billion in a Year: FHAN ', 'sub_title' => '', 'summary' => 'December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Association of Nepal (FHAN). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Associations of Nepal (FHAN). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation made this revelation on Monday during a press meet organized to inform about the upcoming 20th Handicraft Trade Fair and 18th Handicraft Competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation's President Prachanda Shakya informed that the handicraft products made in Nepal were exported to over 60 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali handicraft products have made significant contribution to the national economy, thus, warranting special attention from the government and others concerned for its protection and promotion, he stressed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation is organising the 18th Handicraft Competition and the 20th Handicraft Trade Fair at Hotel Annapurna, Durbar Marg, from December 14 to 18. The organisers informed that the fair will have three pavilions with 130 stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The fair is expected to draw more than 100,000 visitors, according to the organizers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anyone securing first position in the competition will get cash prize of Rs 50,000, while the second position holder will receive Rs 30,000 and the third-place finisher will bag Rs 20,000. Similarly, 10 senior citizens and noted artistes of over 70 years would be honoured on the occasion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19435', 'image' => '20231212103112_20170913113102_sect.jpg', 'article_date' => '2023-12-12 10:30:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19706', 'article_category_id' => '1', 'title' => 'New Butwal 220 KV Transmission Line Comes into Operation', 'sub_title' => '', 'summary' => 'A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Energy, Shakti Bahadur Basnet, officially inaugurated the 90-kilometer transmission line on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stretching from Khurkot in Kushma Municipality-2, Parbat, to the New Butwal Substation at Suryabasti in Sunwal Municipality-13, Bardhaghat Susta Paschim, the transmission line is set to transmit power generated from hydropower projects in the Kaligandaki river and its tributaries. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The line boasts a remarkable capacity to transmit 1,200 megawatts of power.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Basnet emphasized the pivotal role of the Kaligandaki corridor transmission line in facilitating power supply across the east-west regions of Nepal and supporting trans-border power trade. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Executive Director of Nepal Electricity Authority (NEA), Kulman Ghising, highlighted the New Butwal Substation as a key hub for power pooling, facilitating increased power consumption at the local level, east-west power supply, and power export to India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line, consisting of 236 towers, is poised to significantly enhance the internal power distribution and trans-border transmission system in the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its completion has already led to improved credibility of the integrated power system and increased power voltage in Nawalparasi and Rupandehi districts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the new transmission line will enable the integration of power generated in the districts of Mustang and Myagdi into the national grid, utilizing the same transmission line.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The entire project, completed with an investment of Rs 11 billion, saw contributions from the government, NEA, and the South Asia Sub-Regional Economic Cooperation of the Asian Development Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plans are afoot for expanding the power transmission grid from the New Butwal Substation to Bardaghat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, another 220 KV power supply line is set to be established from Hetauda to New Butwal, further enhancing the country's power infrastructure and ensuring a more resilient and reliable power supply network. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19434', 'image' => '20231212060510_collage (7).jpg', 'article_date' => '2023-12-12 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19704', 'article_category_id' => '1', 'title' => 'NEPSE Records Decline of 15.40 to Close at 1948.57', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Financial experts and stock analysts attribute today's correction to the natural course of market dynamics following yesterday's remarkable surge of over 100 points. The day's turnover reached Rs 4.84 billion, indicating increased investor activity and a prevailing positive sentiment among them.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 303 scrips were traded in 109,918 transactions, involving 14,698,517 shares, amounting to Rs 4.84 billion turnover. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONAPUR) took the lead in turnover with Rs 25 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bottler Nepal Limited (BNL), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), and Dolti Power Company Limited (DOLTI), each saw a significant gain of 10%, triggering a positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the downside, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) incurred the highest loss at 7.15%, closing at a market price of Rs 610 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red zone, with the exception of Mutual Fund, Non-Life Insurance, and Microfinance Index. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Index suffered the most significant loss at 2.09%, while the Mutual Fund Index saw the highest gain at 2.16%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19432', 'image' => '20231211035244_collage (7).jpg', 'article_date' => '2023-12-11 15:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19703', 'article_category_id' => '1', 'title' => 'Price of Radish Declines, Farmers Struggle to Find Market for Tomatoes ', 'sub_title' => '', 'summary' => 'December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Kalimati Fruit and Vegetable Market Development Committee, the price of red radish has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee, the average price of red radish per kg a month ago was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, farmers of Sindhupalchowk are struggling to find market for the tomatoes produced in the district. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates of tomatoes are produced daily in the district while hardly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates are sold. As a result, the tomatoes have started rotting in the fields.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Nepal, local elected representative of Chautara, said that the farmers who produced and sold about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million kilos of tomatoes in the last fiscal year have suffered losses due to lack of market this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Resham Bahadur Alemgar, a farmer from Chautara, said that he had sold tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">370,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> last year but the sale this year is not even worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I spent around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on seeds, fertilizer, medicine, etc," he said. I am struggling to get returns on investment even though I have produced plentiful tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19431', 'image' => '20231211032603_rad-pin-3.jpg', 'article_date' => '2023-12-11 15:25:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19701', 'article_category_id' => '1', 'title' => 'Shortage of Australian and Canadian Dollar as Students Prefer Cash over Electronic Means', 'sub_title' => '', 'summary' => 'December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market. Although students pay university fees through bank transfer, there is a shortage because they use cash for personal expenses. The people in general have complained that they are not getting proper facilities for foreign currency exchange even from the counter of Nepal Rastra Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank is currently providing students with cash of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Australian and Canadian dollars after confirmation of visas and air tickets. If they require more than this amount, the students can get it through the verified electronic card issued by banks and financial institutions, said Dilliram Pokharel, deputy spokesperson of Nepal Rastra Bank. He admitted that due to the low cash reserve, the students could not be provided with adequate facilities as per their demand.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in the number of students going to Australia and Canada, there is an increase in pressure for currency exchange through the medium of cash," he said. However, he said that there is no problem for currency exchange through other means.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the central bank has made arrangements for foreign exchange facilities to students going abroad for higher education based on the 'No Objection Letter' issued by the Ministry of Education, Science and Technology. Students are given the facility on the basis of theitr university bill to pay the fees. In addition, up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is also provided for their passports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson Pokharel said that the tendency to look for exchange facilities in cash has led to a shortage. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Currently, we have enough foreign currency reserves so there is no problem in providing the same facilities as specified," he said, "The problem has surfaced because they seek cash rather than such facility through electronic means." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Yuvraj Karki, the operations manager of Oli and Associates, an organization that has been providing educational consultancy to students, said that students consider it a hassle to carry dollar cards. He shared that if the dollar card is converted into local currency, it will be expensive, so the students look for cash as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the instructions of the central bank, students can also exchange a minimum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to a maximum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for the annual subsistence expenses. Accordingly, they can avail up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to study in Bangladesh and Pakistan, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for China, Malaysia, Thailand and the Philippines, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Singapore and South Korea, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Canada, America, Australia and European countries and up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the end of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pandemic, the number of Nepalis going abroad for higher education is increasing. Due to this, the capital flight from Nepal for higher education is also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of NRB, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent for higher education in the first three months of the current fiscal year. During the corresponding period of last fiscal year, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.89</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were spent for higher education. Last year, a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">142</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion were spent on higher education abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Ministry of Education, Science and Technology, by mid-October of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people have received no objection letters to study abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the ministry Shiva Kumar Sapkota said that most of the students have applied for studies in Australia, Canada, Japan, America and the UK. In the last fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people were issued no objection letters by the ministry for studying abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19430', 'image' => '20231211030215_1702262066.collection-dollar-money-usa-canada-australia_359031-4146.jpg', 'article_date' => '2023-12-11 15:01:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19719', 'article_category_id' => '1', 'title' => 'Government Refunds Taxes worth Rs 38 billion in Nine Years', 'sub_title' => '', 'summary' => 'December 13: The government has refunded Rs 38 billion in taxes in the last nine years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The government has refunded Rs 38 billion in taxes in the last nine years. According to the Inland Revenue Department (IRD), it received claims for tax refunds equal to Rs 99.47 from the fiscal year 2071/72 to 2079/80. Out of the total claims, the government has approved and refunded Rs 38.6 billion. According to the department, claims for tax refund have increased in recent years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, out of 840 claims for tax refund worth Rs 19.1 billion, the department approved tax rebate of Rs 4.58 billion as claimed by 498 taxpayers. The rest of the claims were rejected by the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago, in the fiscal year 2071/72, the tax rebate amount approved by the Rs 5.5 billion out of the total claims of Rs 9.91 billion. The government has been refunding taxes incurred on diplomatic missions, various exemption facilities, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there has been an increase in claims from diplomats as well. In the last fiscal year alone, the government returned Rs 1 billion of taxes to diplomatic missions and diplomats. Their claim made by them were much higher than the amount refunded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In its annual report published recently, the department has mentioned that the claimants did not submit the bill properly and did not complete the process according to the law. As a result, the approval amount was less than the claims made for tax refund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, Section 25 of the Value Added Act, 2052, has a provision to refund diplomatic missions and diplomats recognized by the Ministry of Foreign Affairs if they make claims within three years from the date of transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In same section, there is a provision of tax rebate to foreign tourists, and to contractors and pharmaceutical companies in case of overpayment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It seems that the exemptions provided by the tax authorities have resulted in reduction in revenue generation," said a former revenue secretary, adding, "The trend of arbitrary tax withdrawal based on the decisions of the Council of Ministers has been seen in recent years. It is necessary to stop it.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He believes that the government should not give back rebate arbitrarily.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19447', 'image' => '20231213112126_1702439925.20230713124510_2307- editorial.jpg', 'article_date' => '2023-12-13 11:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19717', 'article_category_id' => '1', 'title' => 'FMTC Start Purchasing Paddy from Farmers on Time', 'sub_title' => '', 'summary' => 'December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 13: The state-owned Food Management and Trading Company (FMTC) Limited has started buying paddy from farmers. FMTC has set a target of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion this year. FMTC, which has always been late in purchasing paddy, has initiated the process on time this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, FMTC started the process of purchasing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">989.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million. The company, which started procurement very late last year, did not even meet half of its target. Last year, FMTC purchased only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13,400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of paddy worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">411.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sharmila Subedi, information officer of the company, informed New Business Age that the company has already started purchasing paddy from Mahendranagar, Dhangadhi, Rajapur and Nepalganj areas. According to her, FMTC has already purchased </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from these areas so far. Apart from this, FMTC is also preparing to buy paddy from Bhairahwa, Birgunj, Janakpur, Lahan, Biratnagar, Birtamod and Jumla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“This year, we have started the procurement process with a big target. In the past few years, when we purchased late, we could not buy paddy as per the target. On top of that, we had to suffer food shortage. So this year, we have started purchasing paddy on time with a big target,” said Subedi, adding, “Procurement has been started in collaboration with local bodies even in places other than the main procurement center."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current fiscal year (FY), the government has set a minimum support price of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,098</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for coarse paddy and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,362</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per quintal for medium-sized paddy. This price is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">231</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">234</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> higher than the price of previous year respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, the FMTC aims to purchase a maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons of paddy from Rajapur area of Bardiya and a minimum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">metric tons from Jumla. FMTC will purchase local Marsi paddy from Jumla.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19445', 'image' => '20231213111806_20230202025230_1675301519.jpg', 'article_date' => '2023-12-13 11:17:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19716', 'article_category_id' => '1', 'title' => 'NOC Executive Director Thani Steps Down', 'sub_title' => '', 'summary' => 'December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">December 13: Nepal Oil Corporation (NOC)’s Executive Director Umesh Thani has resigned from his post. Thani submitted his resignation to the NOC Board of Directors on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A board member of NOC said citing the letter submitted to the NOC Board of Directors that Thani resigned from his post voluntarily.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The NOC is headed by commerce secretary. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before his appointment as the executive director of NOC, Thani was the president of Center for Democratic Engineers, an organization of engineers affiliated to the Nepali Congress. He spent more than one and a half years in the state-owned NOC.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19444', 'image' => '20231213104529_1702440517.2 jane.jpg', 'article_date' => '2023-12-13 10:44:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19715', 'article_category_id' => '1', 'title' => 'Vedic Research Guthi to Carry Out Research on AI', 'sub_title' => '', 'summary' => 'The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 12: The Vedic Research Guthi has announced it will carry out research on artificial intelligence (AI) research, signaling a significant step towards integrating Vedic knowledge with modern technology.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Swami Keshabananda, the founder of the Guthi, said that they are actively collecting data for AI research, emphasizing the Guthi's foundational purpose to delve into AI exploration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Keshabananda mentioned the potential ease of learning and teaching practices through the incorporation of Vedic literature into AI via effective data management. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He further elucidated that the Guthi is meticulously planning and executing these initiatives in collaboration with the IT sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "We are diligently working on developing a comprehensive plan," shared Dr. Keshabananda. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In an innovative approach, the institution envisions deploying students with expertise in Sanskrit literature and the IT sector as the driving force behind this research. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-13', 'modified' => '2023-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '19443', 'image' => '20231213063040_collage (8).jpg', 'article_date' => '2023-12-13 06:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19714', 'article_category_id' => '1', 'title' => 'Human, Trade Union Rights Situation of Education Workers in Asia-Pacific Disappointing ', 'sub_title' => '', 'summary' => 'December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The human and trade union rights situation of education workers in the Asia-Pacific region is found to be disappointing. A report entitled "State of Rights of Education Workers in Asia-Pacific (2021-22)" launched by the Education International: Asia-Pacific (EIAP) highlighted the persistence of long-standing tensions and emergence of new conundrums in the human and trade union rights situation of teachers and education support personnel in the Asia-Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, most of the countries or territories in the Asia-Pacific accord legal recognition to the human, civil and political rights of teachers. However, in a considerable number of states, these rights are either totally denied to citizens, in general, on sectarian grounds or particularly on the basis of the teachers' sectoral profile. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Teachers have also been particularly targeted and victimized by arbitrary arrests, torture and violent dispersals. Meanwhile, discriminatory practices based on sex, race, ethnicity, citizenship or disability in hiring, promotion or pay policies were observed during the survey. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, low salaries and the dismal working conditions of teachers, including large class sizes and long work hours, continue to be major issues, according to the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sixty-Seven percent of total EIAP member organizations (63) in the region have responded to the survey, representing 24 countries out of 36 countries or territories in all five sub-regions, namely: South Asia, Southeast Asia, the Pacific, North Asia, and West Asia. Out of the total number of respondent unions, 29.73% represent the public sector only, while 43 24% represent mostly the public sector. The respondents were distributed across sectors from early childhood education to education support personnel, with most (86.49%) representing primary and secondary education workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the report launch, EIAP regional director, Anand Singh, dubbed the report the "first of its kind," providing an overview of the human and trade union rights situation, particularly for teachers and education support personnel in the Asia-Pacific region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Researcher Frank Lioyd Tiongson called for the improvement of the human and trade union rights of education workers while Institutional School Teachers' Union (ISTU) President Hom Kumar Thapa said private teachers have been denied their political and trade union rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19442', 'image' => '20231212050331_teach.jpg', 'article_date' => '2023-12-12 17:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19713', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Relaunches Direct Flights between Kathmandu and Chongqing', 'sub_title' => '', 'summary' => 'December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">December 12: Himalaya Airlines, a joint venture between Nepal and China, has announced the relaunch of its highly anticipated Kathmandu-Chongqing-Kathmandu flight service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Issuing a statement on Tuesday, the airline company said that direct flights between the two cities commenced on December 12. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">This historic event marks a significant milestone in Himalaya Airlines' commitment to enhancing connectivity and promoting bilateral ties between Nepal and China, added the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">According to the company, the Kathmandu-Chongqing-Kathmandu route will offer passengers seamless travel options between the capital city of Nepal and the bustling metropolis of Chongqing, China. This direct link between the cities reflects Himalaya Airlines' dedication in providing convenient, safe, and efficient travel, the statement further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Chongqing, renowned for its rich cultural heritage, modern urban landscape, and economic dynamism, presents itself as an attractive destination for Nepali travelers, offering a unique blend of historical landmarks, culinary delights, and technological advancements, the company added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said that the first outbound flight, H9 787, departed from Tribhuvan International Airport at 10:07 hours (local time) and reached Chongqing-based Jiangbei International Airport at 15:50 hours (local time), with a flight duration of 3 hours and 14 minutes. A total of 125 passengers boarded the first flight. The return flight was scheduled to depart from Chongqing, at 16:25 hours (local time) and is expected to arrive in Kathmandu at 18:35 hours (local time).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it will be operating two flights a week between the cities on every Tuesday and Saturday. This flight signifies the fourth direct connectivity of Himalaya Airlines between China and Nepal including Beijing, Qingdao</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">and Shanghai.</span></span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“The relaunch of this route signifies Himalaya Airline’s commitment to expanding its network, catering to the evolving needs of travelers, and furthering its mission to provide direct, reliable and comfortable air travel experiences. With this addition to its network, Himalaya Airlines aims to facilitate business opportunities, tourism, and cultural interactions between Nepal and China, contributing to the strengthening of bilateral relations,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalaya Airlines said it aims to create memorable travel experiences while maintaining the highest safety standards. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“We look forward to welcoming travelers on board our flights and helping them explore the beauty and opportunities that both Nepal and China have to offer.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19441', 'image' => '20231212042159_A 319.jpg', 'article_date' => '2023-12-12 16:21:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19712', 'article_category_id' => '1', 'title' => 'NEPSE Posts Impressive Surge of 36.86 to Close at 1985.44', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: The Nepal Stock Exchange (NEPSE) Index witnessed an impressive surge, climbing by 36.86 points or 1.89% to reach a closing figure of 1985.44 during the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 297 scrips were traded through 95,433 transactions, involving 12,463,168 shares, amounting to Rs 4.30 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This upward momentum in the stock market has been attributed to the positive sentiment generated by the recent first quarterly review of the monetary policy by the Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NRB's decision to reduce the risk weightage on margin lending against shares from 150% to 125% has been particularly influential in fostering optimism among investors, propelling the market on an upward trajectory.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM Cements LTD (SHIVM) led the way with the highest turnover, recording Rs 18 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Bottlers Nepal Limited (BNL), Dhaulagirii Laghubitta Bittiya Sanstha Limited (DLBS), Nepal Republic Media Limited (NRM), and Sonapur Minerals and Oil Limited (SONA) each saw substantial gains of 10%, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) incurred the highest loss at 5.11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors closed in the green zone. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hotels and Tourism Index saw the most significant gain at 4.33%, while the Banking SubIndex witnessed least increase of 0.21%. </span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19440', 'image' => '20231212033814_collage (9).jpg', 'article_date' => '2023-12-12 15:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19711', 'article_category_id' => '1', 'title' => 'Conservationists Express Concern over Mountains Turning Bare ', 'sub_title' => '', 'summary' => 'December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Conservationists and climate activists have expressed concerns over the mountains turning bare across the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Arguing that snow has been melting at a fast pace resulting in the mountains turning bare and thereby affecting the entire ecosystem, they urged all sides concerned to continue efforts to minimize the impacts of climate change. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Owing to global warming, mountains are losing snow cover. It will turn mountain climbing to a mere rock climbing," warned Dr Ghanashyam Gurung, chief of World Wildlife Fund in Nepal and conservationist, stressing that there is no option but to adopt and scale up measures for climate change mitigation and adaptation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He expressing such views during a session focused on fading snow cover and impacts on livelihood in the ongoing International Mountain Festival in Pokhara on Monday. Gurung said Nepal was witnessing fast melting of snow, thereby leaving mountains bare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that local initiatives are imperative to minimize the impacts of climate change to which Nepal has negligible role. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Those culpable for climate change are rich and industrialized countries. However, Nepal must not stay idle, but build moral grounds to voice its concerns to the international community," Gurung opined. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Another speaker Dr Amina Maharjan, who is an expert on livelihood and migration, argued that mountains turning bare are the growing concerns not only of Nepal but of the entire Hindu Kush region. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Ecology, agriculture, tourism, and health are having negative impacts of climate change," she said, stressing the need of proper adaptation to minimize the worsening situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flashflood that occurred in Seti River in 2012 and the floods in Kagbeni some months ago were caused by climate change, according to Maharjan. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">She expressed concerns about inadequate discussions and research on the impacts of climate change on health. The spread of disease and health-related problems are rising of late, she warned. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Nepal should make its voice heard in the global arena to receive compensation under the Loss and Damage Fund,” she suggested. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noted journalist Kunda Dixit expressed his view that the time has come to term climate change a 'climate crisis'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said that water crisis is induced by climate change. As the rivers and water sources are drying up, it must be considered as an urgent issue by the government. Dixit suggested to promote the use of renewable energy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Researcher on climate change and food security, Dr Jagannath Adhikari, said that mountains have close ties with the culture of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Once the mountains lose snow, we lose our culture," he argued, warning that Pokhara could no more enjoy the majestic sight of snow-capped mountains. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Melting of snow has direct impacts on agricultural products, he said adding that both national and international initiatives must be continued to cope with the impacts of climate change. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => 'mountains, climate, change, impact, snow, melting, Pokhara, Nepal, Himalayas, global, warming, Nepal, culture, ecosystem', 'description' => '', 'sortorder' => '19439', 'image' => '20231212023147_NL-Manang-IMG_20231101_104951.JPG', 'article_date' => '2023-12-12 14:30:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19710', 'article_category_id' => '1', 'title' => 'Banks Start Reducing Interest Rates after First Quarterly Review of Monetary Policy by NRB', 'sub_title' => '', 'summary' => 'December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 12: Banks have started reducing interest rates on deposits after Nepal Rastra Bank reduced policy rates through the first quarter review of monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Generally, banks change the interest rate at the end of a month, but they implemented the new interest rate in the middle of the month after the change in the policy rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the central bank, commercial banks can change the interest rates with immediate effect if there is a change in the bank rate and policy rate provided that the banks publish the notice about the change in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing laws, banks should publish the interest rate applicable on deposits for each month before the beginning of the month. According to this provision, banks have been publishing notices on the last day of every month that give information about the interest rate applicable for the next month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the review of the monetary policy on Friday, the central bank reduced the bank rate from 7.5 percent to 7 percent and the policy rate from 6.5 percent to 5.5 percent. Following the central bank’s move, the banks also started reducing the interest rates with immediate effect by publishing notices.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far NIC Asia Bank, Kumari Bank and NMB Bank have published notices and reduced the interest rates. NIC Asia Bank published a notice on Sunday and fixed the maximum interest rate on fixed deposits at 8.67 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, NIC Asia Bank said that the new interest rate of the bank will be applicable only from mid-December. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumari Bank has reduced the interest rate with effect from Sunday. Kumari has set a maximum interest rate of 9.61 percent on individual term deposits, down from 10.10 percent in the past two months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NMB Bank has also implemented the new interest rate from Monday. NMB Bank had been giving a maximum interest rate of 9.50 percent on individual term deposits, but has reduced it to 9 percent from Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, banks have excess liquidity due to the lack of credit flow compared to the increase in deposit collection. As the liquidity situation eased, the central bank reduced the policy rates making it easier for the banks to reduce the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of the NRB, banks currently have the capacity to extend loans of more than Rs 600 billion. However, due to non-expansion of credit flow, the interbank interest rate has fallen to one percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there has been excess liquidity in the banking system, the central bank has been mopping excess liquidity from the market through deposit collection tools. Since November 23, the central bank has withdrawn about Rs 150 billion from the market through deposit collection tools. Of that amount, Rs 45 billion have matured and have been returned to the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NRB records show that commercial banks have a total deposits of Rs 5289 billion while they provided loans of Rs 4407 billion. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19438', 'image' => '20231212010229_Banks - Copy.jpg', 'article_date' => '2023-12-12 13:01:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19708', 'article_category_id' => '1', 'title' => 'Government Holds Meeting with Donors ahead of Third Investment Summit ', 'sub_title' => '', 'summary' => 'December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: The Government of Nepal held a meeting with development partners on Monday in view of the upcoming Third Investment Summit scheduled for April 21-22 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Finance Minister Dr Prakash Sharan Mahat, the meeting focused on generating ideas for making the Summit effective and result-oriented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are seeking inputs from investors in regard with investment atmosphere in Nepal and areas they believe need improvements," the Finance Minister said, adding that Nepal presents an environment conducive for investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The demand side is higher than supplies in Nepal, making it an attractive destination for investment," Finance Minister Mahat further said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that there is high potential for investment in hydropower, tourism, information technology and agricultural sectors in Nepal. According to the minister, Nepal presents a favorable ground for investment in small and medium enterprises as well. He added the government is seriously working to address challenges in the investment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The bill regarding laws against money laundering is likely to be endorsed by the parliament. We could work toward the achievement of Sovereign Credit Rating before the Summit. We are dedicated to remove all sorts of challenges and hurdles for investment," the Finance Minister assured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Chief Secretary Dr Baikuntha Aryal said the government is effortful to make policy-level and procedural improvements for investment. The meeting also discussed issues regarding projects to be showcased during the Summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has already formed separate committees for the Summit like the director committee led by the finance minister, the implementation committee led by chief secretary and the technical committee led by secretary of the Ministry of Industry, Commerce and Supplies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first meeting of the director committee took place on November 26 and the implementation committee meeting on December 5. But the technical committee meeting is yet to be organised. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The director committee is tasked with approving the conference schedule and model, identifying the areas that require policy reforms to create a climate for the conference and looking after the whole affairs of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's members are the foreign minister, the energy minister, the physical infrastructure minister, the culture and tourism minister, the industry minister, the agriculture minister, the development urban minister and the federal affairs minister, vice chairperson of the National Planning Commission, chief secretary, governor of the Nepal Rastra Bank, secretary of the Office of Prime Minister and Council of Ministers, finance secretary, industry secretary and chairpersons of three umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The implementation committee is tasked with preparing the proposal to be submitted to the director committee, in coordination with the stakeholders and providing necessary help to the director committee for the entire preparation of the conference. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Members of the committee are secretaries of the line ministries, deputy governor of the Nepal Rastra Bank and chairperson of the umbrella organisations of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The technical committee is tasked with developing the project concept after analysing the status of the projects to be presented at the conference, developing attractive and reliable projects to be proposed and preparing various memorandums of understandings and agreements. The committee members are joint secretaries of the line ministries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19436', 'image' => '20231212114012_20231126113943_20190307120527_Clipboard24.jpg', 'article_date' => '2023-12-12 11:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19707', 'article_category_id' => '1', 'title' => 'Nepal Exported Handicraft Products worth Rs 12 Billion in a Year: FHAN ', 'sub_title' => '', 'summary' => 'December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Association of Nepal (FHAN). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 12: Nepal exported handicraft products worth Rs 12 billion last year, according to the Federation of Handicraft Associations of Nepal (FHAN). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation made this revelation on Monday during a press meet organized to inform about the upcoming 20th Handicraft Trade Fair and 18th Handicraft Competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation's President Prachanda Shakya informed that the handicraft products made in Nepal were exported to over 60 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali handicraft products have made significant contribution to the national economy, thus, warranting special attention from the government and others concerned for its protection and promotion, he stressed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The federation is organising the 18th Handicraft Competition and the 20th Handicraft Trade Fair at Hotel Annapurna, Durbar Marg, from December 14 to 18. The organisers informed that the fair will have three pavilions with 130 stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The fair is expected to draw more than 100,000 visitors, according to the organizers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anyone securing first position in the competition will get cash prize of Rs 50,000, while the second position holder will receive Rs 30,000 and the third-place finisher will bag Rs 20,000. Similarly, 10 senior citizens and noted artistes of over 70 years would be honoured on the occasion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19435', 'image' => '20231212103112_20170913113102_sect.jpg', 'article_date' => '2023-12-12 10:30:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19706', 'article_category_id' => '1', 'title' => 'New Butwal 220 KV Transmission Line Comes into Operation', 'sub_title' => '', 'summary' => 'A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 12: A 220 KV power transmission line along the Kaligandaki corridor has commenced operations, providing a crucial boost to the stability of power supply in the districts of Nawalparasi and Rupandehi.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Energy, Shakti Bahadur Basnet, officially inaugurated the 90-kilometer transmission line on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stretching from Khurkot in Kushma Municipality-2, Parbat, to the New Butwal Substation at Suryabasti in Sunwal Municipality-13, Bardhaghat Susta Paschim, the transmission line is set to transmit power generated from hydropower projects in the Kaligandaki river and its tributaries. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The line boasts a remarkable capacity to transmit 1,200 megawatts of power.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Basnet emphasized the pivotal role of the Kaligandaki corridor transmission line in facilitating power supply across the east-west regions of Nepal and supporting trans-border power trade. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Executive Director of Nepal Electricity Authority (NEA), Kulman Ghising, highlighted the New Butwal Substation as a key hub for power pooling, facilitating increased power consumption at the local level, east-west power supply, and power export to India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line, consisting of 236 towers, is poised to significantly enhance the internal power distribution and trans-border transmission system in the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its completion has already led to improved credibility of the integrated power system and increased power voltage in Nawalparasi and Rupandehi districts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the new transmission line will enable the integration of power generated in the districts of Mustang and Myagdi into the national grid, utilizing the same transmission line.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The entire project, completed with an investment of Rs 11 billion, saw contributions from the government, NEA, and the South Asia Sub-Regional Economic Cooperation of the Asian Development Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plans are afoot for expanding the power transmission grid from the New Butwal Substation to Bardaghat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, another 220 KV power supply line is set to be established from Hetauda to New Butwal, further enhancing the country's power infrastructure and ensuring a more resilient and reliable power supply network. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-12', 'modified' => '2023-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '19434', 'image' => '20231212060510_collage (7).jpg', 'article_date' => '2023-12-12 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19704', 'article_category_id' => '1', 'title' => 'NEPSE Records Decline of 15.40 to Close at 1948.57', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: The Nepal Stock Exchange (NEPSE) witnessed a volatile trading day marked by fluctuations, ultimately recording a decline of 15.40 points or 0.78%, closing at 1948.57 on Monday, the second trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Financial experts and stock analysts attribute today's correction to the natural course of market dynamics following yesterday's remarkable surge of over 100 points. The day's turnover reached Rs 4.84 billion, indicating increased investor activity and a prevailing positive sentiment among them.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 303 scrips were traded in 109,918 transactions, involving 14,698,517 shares, amounting to Rs 4.84 billion turnover. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONAPUR) took the lead in turnover with Rs 25 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bottler Nepal Limited (BNL), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), and Dolti Power Company Limited (DOLTI), each saw a significant gain of 10%, triggering a positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the downside, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) incurred the highest loss at 7.15%, closing at a market price of Rs 610 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red zone, with the exception of Mutual Fund, Non-Life Insurance, and Microfinance Index. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Index suffered the most significant loss at 2.09%, while the Mutual Fund Index saw the highest gain at 2.16%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19432', 'image' => '20231211035244_collage (7).jpg', 'article_date' => '2023-12-11 15:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19703', 'article_category_id' => '1', 'title' => 'Price of Radish Declines, Farmers Struggle to Find Market for Tomatoes ', 'sub_title' => '', 'summary' => 'December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: The price of radish has dropped with the increase in the supply of freshly-produced radish.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Kalimati Fruit and Vegetable Market Development Committee, the price of red radish has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee, the average price of red radish per kg a month ago was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, farmers of Sindhupalchowk are struggling to find market for the tomatoes produced in the district. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates of tomatoes are produced daily in the district while hardly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> crates are sold. As a result, the tomatoes have started rotting in the fields.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Nepal, local elected representative of Chautara, said that the farmers who produced and sold about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million kilos of tomatoes in the last fiscal year have suffered losses due to lack of market this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Resham Bahadur Alemgar, a farmer from Chautara, said that he had sold tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">370,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> last year but the sale this year is not even worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I spent around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on seeds, fertilizer, medicine, etc," he said. I am struggling to get returns on investment even though I have produced plentiful tomatoes worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19431', 'image' => '20231211032603_rad-pin-3.jpg', 'article_date' => '2023-12-11 15:25:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19701', 'article_category_id' => '1', 'title' => 'Shortage of Australian and Canadian Dollar as Students Prefer Cash over Electronic Means', 'sub_title' => '', 'summary' => 'December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Due to the rise in the number of students going to Australia and Canada for higher education, there is a shortage of Australian and Canadian dollars in the market. Although students pay university fees through bank transfer, there is a shortage because they use cash for personal expenses. The people in general have complained that they are not getting proper facilities for foreign currency exchange even from the counter of Nepal Rastra Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank is currently providing students with cash of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Australian and Canadian dollars after confirmation of visas and air tickets. If they require more than this amount, the students can get it through the verified electronic card issued by banks and financial institutions, said Dilliram Pokharel, deputy spokesperson of Nepal Rastra Bank. He admitted that due to the low cash reserve, the students could not be provided with adequate facilities as per their demand.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in the number of students going to Australia and Canada, there is an increase in pressure for currency exchange through the medium of cash," he said. However, he said that there is no problem for currency exchange through other means.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the central bank has made arrangements for foreign exchange facilities to students going abroad for higher education based on the 'No Objection Letter' issued by the Ministry of Education, Science and Technology. Students are given the facility on the basis of theitr university bill to pay the fees. In addition, up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is also provided for their passports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson Pokharel said that the tendency to look for exchange facilities in cash has led to a shortage. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Currently, we have enough foreign currency reserves so there is no problem in providing the same facilities as specified," he said, "The problem has surfaced because they seek cash rather than such facility through electronic means." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Yuvraj Karki, the operations manager of Oli and Associates, an organization that has been providing educational consultancy to students, said that students consider it a hassle to carry dollar cards. He shared that if the dollar card is converted into local currency, it will be expensive, so the students look for cash as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the instructions of the central bank, students can also exchange a minimum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to a maximum of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for the annual subsistence expenses. Accordingly, they can avail up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,500</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to study in Bangladesh and Pakistan, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for China, Malaysia, Thailand and the Philippines, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Singapore and South Korea, USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for Canada, America, Australia and European countries and up to USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the end of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pandemic, the number of Nepalis going abroad for higher education is increasing. Due to this, the capital flight from Nepal for higher education is also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of NRB, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent for higher education in the first three months of the current fiscal year. During the corresponding period of last fiscal year, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.89</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were spent for higher education. Last year, a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">142</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion were spent on higher education abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Ministry of Education, Science and Technology, by mid-October of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people have received no objection letters to study abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson for the ministry Shiva Kumar Sapkota said that most of the students have applied for studies in Australia, Canada, Japan, America and the UK. In the last fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people were issued no objection letters by the ministry for studying abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19430', 'image' => '20231211030215_1702262066.collection-dollar-money-usa-canada-australia_359031-4146.jpg', 'article_date' => '2023-12-11 15:01:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
