NEWS

Snowfall in Upper Belt of Gorkha Throws Life out of Gear

Dec 05, 2023 0 3 minutes 30 seconds to read

December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima…

Habib Bank to Sell its Shares in Himalayan Bank to Himalayan Reinsurance Company

Dec 05, 2023 0 3 minutes 40 seconds to read

December 5: Pakistan’s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance…

Private Sector Company Trans Nepal Freight gets Responsibility to Operate Chobhar Dry Port

Dec 05, 2023 0 1 minutes 53 seconds to read

December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built…

PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal

Dec 05, 2023 0 1 minutes 48 seconds to read

December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal…

Govt Confirms Death of Six Nepalis serving in Russian Army

Dec 05, 2023 0 2 minutes 17 seconds to read

December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army.…

Manang Draws Highest Number of Foreign Tourists Since COVID-19

Dec 05, 2023 0 1 minutes 2 seconds to read

Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic. According to Annapurna Conservation Area Project (ACAP)'s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11…

Snowfall in Dhorpatan Hits Life Hard

Dec 04, 2023 0 41 seconds to read

Dhorpatan witnessed this season's first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve…

NEPSE Drops 3.42 Points to Close at 1847.81

Dec 04, 2023 0 1 minutes 17 seconds to read

The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday.…

IPO Approval Stalled Since October 18

Dec 04, 2023 0 4 minutes 16 seconds to read

December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October…

Rate of Return of Microfinance Companies Declining

Dec 04, 2023 0 8 minutes 56 seconds to read

December 4: The rate of return of microfinance companies has started to…

Snowfall in Humla, Mustang

Dec 04, 2023 0 2 minutes 19 seconds to read

December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall.…

Gold Price Hits New Record

Dec 04, 2023 0 46 seconds to read

December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on…

Aviation Refueling Centre Established at Simara Airport

Dec 04, 2023 0 2 minutes 3 seconds to read

December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on…

Price of Large Tomatoes Imported from India Increases by 76 Percent

Dec 04, 2023 0 1 minutes 34 seconds to read

December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one…

ADB to Extend Support for Climate Resilience in Hindu Kush Himalayas

Dec 04, 2023 0 2 minutes 33 seconds to read

December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya…

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		'Article' => array(
			'id' => '19643',
			'article_category_id' => '1',
			'title' => 'Snowfall in Upper Belt of Gorkha Throws Life out of Gear',
			'sub_title' => '',
			'summary' => 'December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Chumchet and Chhekampar of Chum valley and Lho, Prok and Samagaon of Nubri valley were covered with snow, causing severe cold.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Hotel entrepreneur at Samdo, Nima Dorje Lama, informed that the snowfall has caused sheer inconvenience to daily life. Grazing cattle and collecting grass and fodder has been difficult.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The people are also facing problems of drinking water as the water has frozen at its source. Especially the elderly people, children and sick have been hit hard by the chill.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Samdo village is located at 3,500 meters above the sea level. A local Chhang Dorje Lama informed that the highlands of mountain region were blanketed with snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The snow has also caused difficulty in the movement of foreign and domestic trekkers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Manaslu Conservation Area Project (MCAP) office said the tourists arrived at Manaslu area were bound to stay inside hotels.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers here have been elated with the snowfall as it would be beneficial for winter crops and fruits.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
<span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall disrupts Mid-Hill Highway in Baglung</span></strong>&nbsp;&nbsp;&nbsp;<br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the snowfall taking place from Monday morning has disrupted vehicular movement along the Baglung-Rukum East section of the Mid-Hill Highway.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The local residents said that the snowfall has occurred at Nisikhola in Baglung and Patihalne of Rukum East.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Til Bahadur Ghartimagar, a local resident, said that vehicles have remained completely off the road due to continuous snowfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area witnessed rainfall since Sunday evening and snowfall since early morning on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Ghartimagar, the cattle taken for grazing have been taken to the lowlands due to snowfall there. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area of the Dhorpatan Hunting Reserve is covered with snow and the normal life of the people there is badly affected. The Dhorpatan valley and the highlands are covered with snow, hotelier Ganga Bahadur Bhandari said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers there are also elated with the snowfall coupled with rain, which occurred after a long gap as they are hopeful of better yield of the winter crops. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '19644',
			'article_category_id' => '1',
			'title' => 'Habib Bank to Sell its Shares in Himalayan Bank to Himalayan Reinsurance Company',
			'sub_title' => '',
			'summary' => 'December 5: Pakistan’s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 5: Pakistan&rsquo;s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Sources informed that Habib and Himalayan Reinsurance have reached an agreement for the purchase and sale of shares at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">130</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share and a correspondence has been sent to Nepal Rastra Bank for approval. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Before the merger of Himalayan Bank with Civil Bank, Habib owned </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent shares in Himalayan Bank. When shares were adjusted after the merger, Habib&#39;s ownership fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Accordingly, Habib Bank is going to sell </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">28</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">447</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> shares. However, neither the two banks nor the reinsurance company and Nepal Rastra Bank have formally informed about this deal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the provisions of the Banks and Financial Institutions Act (BAFIA), promoter shares cannot be sold for five years of operation of banks and financial institutions. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the approval of the central bank is required for the sale of shares of companies and organizations with more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent share ownership. According to the provisions of the Act, the purchase and sale process will proceed only after the central bank approves the agreement between Habib and Himalayan Reinsurance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Habib Bank had tried to sell shares of Himalayan Bank four years ago. Although Habib made an agreement with the British Commonwealth Development Corporation (CDC), it was broken after the opposition from Himalayan Bank&#39;s management.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Now the reinsurance company is going to buy the shares. The chairman of the company is Shekhar Golcha of Golcha Group. He is also the former president of the Federation of Nepalese Chamber of Commerce and Industries.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19641',
			'article_category_id' => '1',
			'title' => 'Private Sector Company Trans Nepal Freight gets Responsibility to Operate Chobhar Dry Port   ',
			'sub_title' => '',
			'summary' => 'December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal Intermodal Transport Development Committee is currently entrusted with the operation of the dry port.</span> <span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee is a regulatory body formed in accordance with the Nepal Intermodal Transport Development Committee (formation) Order, 2054.&nbsp; As per the agreement signed on Monday, Trans Nepal Freight will operate and manage Chobhar Dry Port from December 15.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Director of the committee Yubak Dangol and Managing Director of Trans Nepal Freight, Mukesh Kumar Rathi, signed the contract agreement in the presence of the committee&rsquo;s Executive Director Ashish Gajurel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee had issued international tender bids on July 24 for the operation and management of the dry port and integrated check post as well as container freight station under the committee. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, Executive Director Gajurel shared that the commercial use of Chobhar Dry Port has increased within 20 months of its operation and the government will get more revenue if the operation and management of the dry port is given to the private sector.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Managing Director Rathi expressed the belief that the support received earlier from other government bodies and stakeholders including Nepal Intermodal Transport Development Committee will continue for the effective operation and management of the dry port in the coming days. -- RSS</span></span></span></p>
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		'Article' => array(
			'id' => '19640',
			'article_category_id' => '1',
			'title' => 'PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   ',
			'sub_title' => '',
			'summary' => 'December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal procedures.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell&#39;s share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal&#39;s existing laws and legal procedures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prime Minister&#39;s press coordinator Surya Kiran Sharma told the state-owned RSS that the PM has directed the authorities to take stock about the legal compliance behind the deal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Sharma shared that PM Dahal has asked to immediately study the status of Nepal&#39;s telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Malaysian company &#39;Axiata Group Berhad&#39; had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company based in the UK.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well, RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Axiata, which purchased the shares of Ncell from Swedish company TeliaSonera in 2016 for Rs143 billion recently decided to sell its stakes in less than Rs 7 billion, raising suspicion about the deal.</span></span></span></p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '19639',
			'article_category_id' => '1',
			'title' => 'Govt Confirms Death of Six Nepalis serving in Russian Army   ',
			'sub_title' => '',
			'summary' => 'December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. The Russian government has been urged to promptly send the bodies back to their homes and ensure compensation to the bereaved families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Monday, the Ministry of Foreign Affairs said that the government has identified the deceased. The government has urged Russia not to recruit any Nepali citizens in its military force and if anyone is still serving, to return him/her to Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Earlier on August 1, the government issued a notice stating that the government has no policy of approving the recruitment of any Nepali citizens in foreign military forces expect in the national army of a few friendly nations in accordance with the long-standing agreement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the ministry, it has received information about the demise of six Nepali citizens working for the Russian military force.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The government has expressed condolences to the dead ones and expressed deep sympathies to their families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Those Nepalis dead while working for the Russian Army include Sandip Thapaliya of Gorkha, Rupak Karki of Kapilbastu, Dewan Rai of Kaski, Pritam Karki of Syangja, Raj Kumar Roka of Dolakha and Gangaraj Moktan of Ilam.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the ministry said that diplomatic initiatives are ongoing to repatriate one Bibek Khatri, who is held hostage in Ukraine.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has urged Nepali nationals to receive approval letter to be issued from the Department of Consular Services of the Ministry of Foreign Affairs if they are travelling to Russia for other reasons except for government assignment, study purpose in Russian scholarship and businesses.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has also urged Nepalis not to get recruited in the military service of the war-ravaged nations on the basis of false information or other&#39;s temptation. -- RSS</span></span></span></p>
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			'image' => '20231205101148_russ.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '19638',
			'article_category_id' => '1',
			'title' => 'Manang Draws Highest Number of Foreign Tourists Since COVID-19',
			'sub_title' => '',
			'summary' => 'Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic. According to Annapurna Conservation Area Project (ACAP)'s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Annapurna Conservation Area Project (ACAP)&#39;s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">ACAP&#39;s Manang Office Chief, Dhak Bahadur Bhujel, shared that Manang welcomed most tourists in October. The tourists mostly visited&nbsp;the district for adventure trekking in the rugged high hills and mountainous zone.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among all the foreign tourists who visited Manang from January to November this year, the French arrived in the highest number followed by Israeli, German, British, American, and Russian, informed Bhujel.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, tourists from Austria, the Netherlands, and India reached Manang, according to the ACAP, Manang. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2022, a total of 15,903 foreign tourists had visited the district. (RSS)&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2023-12-05',
			'modified' => '2023-12-05',
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			'description' => '',
			'sortorder' => '19366',
			'image' => '20231205101259_20231118091755_Manang becoming a Preferred Choice among Domestic Tourists.jpg',
			'article_date' => '2023-12-05 05:50:45',
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	(int) 6 => array(
		'Article' => array(
			'id' => '19637',
			'article_category_id' => '1',
			'title' => 'Snowfall in Dhorpatan Hits Life Hard',
			'sub_title' => '',
			'summary' => 'Dhorpatan witnessed this season's first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Dhorpatan witnessed this season&#39;s first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;This is the first time snowfall in Dhorpatan this year. Dhorpatan Valley has been blanketed with snow. Normal life has been affected due to the freezing cold due to the snowfall,&quot; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It has become difficult to even give fodder, feed and water to the livestock due to the snow, said Kul Bahadur BK, a local of Dhorpatan. (RSS) </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-12-04',
			'modified' => '2023-12-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '19365',
			'image' => '20231204043354_collage (19).jpg',
			'article_date' => '2023-12-04 16:33:07',
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	(int) 7 => array(
		'Article' => array(
			'id' => '19636',
			'article_category_id' => '1',
			'title' => 'NEPSE Drops 3.42 Points to Close at 1847.81',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday.  ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday. &nbsp;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The persistent bearish trend in the market has been attributed to several factors, including the prevailing negative psychology among investors and the stringent policies of the Nepal Rastra Bank regarding the stock market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day&#39;s trading session, a total of 292 scrips were traded, involving 43,428 transactions and 3,896,287 units of shares, with a total turnover of Rs 1.19 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Sonapur Minerals and Oil Limited (SONA) led in turnover, reaching 7.46 crores and closing at a market price of Rs 300 per share.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Meanwhile, Samaj Laghubitta Bitiya Sanstha (SAMAJ) experienced the highest gain at 8.06%, whereas NRN Infrastructure and Development (NRN) and Mountain Energy Nepal Limited (MEN) each incurred losses of 9.99%, closing at market prices of Rs 311 and Rs 477, respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, the Development Bank Index, Finance Index, Life Insurance, Non-Life Insurance, and Mutual Fund closed in the green zone, while other sectors ended up in the red zone.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2023-12-04',
			'modified' => '2023-12-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '19364',
			'image' => '20231204033514_collage (17).jpg',
			'article_date' => '2023-12-04 15:34:11',
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	(int) 8 => array(
		'Article' => array(
			'id' => '19635',
			'article_category_id' => '1',
			'title' => 'IPO Approval Stalled Since October 18',
			'sub_title' => '',
			'summary' => 'December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October 18.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The regulatory body took such decision following complaints that the secondary market has been flooded with Initial Public Offerings (IPO).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">On October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8, the Board had allowed Himalayan Reinsurance Limited to sell its IPO at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">206</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share with premium price. Since then, the IPO issuance has been suspended.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">SEBON Chairman Ramesh Kumar Hamal put the process of issuing IPOs on hold after the board was criticizing even for issuing IPOs of the companies that had completed all the due processes as per the rules. Hamal claimed that even though he was working as per the rules, he had to face many legal battles which have affected the performance of the board.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After he was criticized for approving the files that had completed the legal processes, Chairman Hamal is considering that the IPOs should be approved by the board of directors. He said that the proposal has not reached the Board of Directors as discussions are ongoing with the management on whether or not the policy put forward by him will be effective for the long-term development of the secondary market.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Hamal said that the issuance of IPOs is being done in a clean and transparent manner by forming a department for the approval process..</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After the Board delayed the IPO approval process, the investors have insisted on finding a way out soon. Acting President of Share Investors Association (Nepal) Tara Prasad Fullel said that it is not appropriate to stop the IPO approval process. He argued that the regulatory body should not delay the IPO approval by violating its own rules because of criticism.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Lately, the board had given special priority to IPOs. Due to this priority of the board, many companies from the real sector to the hydropower sector have shown interest in IPO. The board opened the way from allowing profitable companies to issue IPO at a premium price to sell shares through the book building method.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The process of selling shares through the book building method was done by Sarvottam Cement. The cut-off price of the IPO sold to qualified institutional investors has been fixed at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">401</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">per shares. Now the company will sell shares to the general public at </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent less than this price.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'image' => '20231204022456_20210105042837_20190101042956_IPO.jpg',
			'article_date' => '2023-12-04 14:24:28',
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	(int) 9 => array(
		'Article' => array(
			'id' => '19634',
			'article_category_id' => '1',
			'title' => 'Rate of Return of Microfinance Companies Declining',
			'sub_title' => '',
			'summary' => 'December 4: The rate of return of microfinance companies has started to decline.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The rate of return of microfinance companies has started to decline.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The slump in economic activities due to the effects of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> epidemic and Russia-Ukraine war among others have resulted in the decline in the profit of microfinance companies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Nepal Rastra Bank&#39;s decision to set the ceiling on interest rates, service charges, etc has also reduced the income of microfinance companies. In recent times, the return on equity (ROE) of microfinance companies has been decreasing due to the increase in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to Nepal Rastra Bank, the average ROE of microfinance institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">61.8</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2071/72. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">By March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. The rate of return on equity decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076/77</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, but then it increased. However, last year, the return of investment decreased due to the decrease in economic activity and the rise in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The committee formed to study the problems of microfinance companies has also pointed out that investors are attracted towards microfinance due to high profits but the rate of return has been decreasing of late. According to the committee, the return on equity of commercial banks remained at an average of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10.30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent from </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2072</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2080</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, while that of microfinance was above </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Investors were more enthusiastic about microfinance due to this return.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The return on equity of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> institutions turned negative as of March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, indicating that the financial condition of the microfinance institutions has been deteriorating, the committee mentioned in the report.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Microfinance companies were established to provide financial services to the underprivileged groups who are out the reach of banks and financial institutions. With the increase in complaints of high interest rates from these institutions, the central bank has started fixing ceiling on interest rates since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Initially, microfinance companies were not allowed to charge more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent but that was lowered to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has also set a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent on the service fee charged by them.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The microfinance operators are demanding a system under which they can determine the interest rate by adding a certain percentage premium to the base rate. The study committee has also recommended to implement the base rate as in case of banks and financial institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The number of microfinance institutions that have obtained permission from the NRB reached the peak in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2075</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> when there were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">91</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> such institutions</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">With the central bank&#39;s emphasis on merger and acquisition, the number of microfinance institutions fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">63</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From the year </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2070/71</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078/79</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, the non-performing loan of microfinance was less than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent of the total loan, but after March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.43</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The study committee has suggested that the microfinance companies cannot be sustainable if the rate of return is weak. It has suggested setting a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent on dividend distribution and removing the limit on the interest rate and applying the spread rate.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '19633',
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			'title' => 'Snowfall in Humla, Mustang   ',
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			'summary' => 'December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall.     ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A health worker at Halji health post located at Namkha rural municipality-6, Lokesh Bohara, said that snowfall has been taking place at the lower belt along with Simkot and snow up to around one feet has piled up at the northern areas of the district. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">People are facing problem to commute due to the snowfall, he shared.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Air service has also been affected due to the snowfall and passengers heading out of the district have been stranded in Simkot. Simkot has witnessed up to four inches of snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the other hand, farmers are elated with snowfall as they hope it would be good for different types of crops&mdash;wheat, barley and others.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Mustang sees season&#39;s first snowfall&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall took place in Mustang for first time this season. The snowfall started since Monday morning. It is snowing in all areas including the district headquarters, Jomsom, said Ram Prasad Adhikari, the Assistant Chief District Officer.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, although it is raining since the morning, offices are open and the means of transport are also operating.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although life has been affected due to cold, the farmers are elated with the snowfall. The crops cultivated by farmers had started to wilt away due to drought.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The crops and vegetables are going to prosper due to the precipitation this season. Although the sky used to be cloudy, there was no rain before this. It&#39;s good that it snowed today,&quot; he said. -- RSS</span></span></span></p>
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			'id' => '19632',
			'article_category_id' => '1',
			'title' => 'Gold Price Hits New Record         ',
			'sub_title' => '',
			'summary' => 'December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has increased by Rs 800 per tola on Monday as compared to Sunday. It was traded at Rs 120,800 on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, price of worked gold has been determined at Rs 121,000 per tola on Monday against Rs 120,200 on Sunday. Silver is being traded at Rs 1,545 per tola on Monday. -- RSS</span></span></span></p>
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			'id' => '19631',
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			'title' => 'Aviation Refueling Centre Established at Simara Airport',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Simara Airport, the second oldest airport after the Kathmandu-based Tribhuvan International Airport, did not have refueling facility until now.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Rijal, on the occasion, said that the NOC had been providing the LPG gas cylinders to the consumers at a cheap price despite incurring loss.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, NOC Spokesperson Manoj Thakur said the newly inaugurated centre would facilitate internal flights.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The operation of the centre has ended the situation of diverting flights towards Bhairahawa or Biratnagar in case of bad weather or pressure of air traffic in Kathmandu, he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The flight time from Kathmandu to Simara is 15 minutes in average.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The refueling centre is expected to benefit both the aviation industry and air travelers by strengthening the connectivity and accessibility of air travel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It is the first refueling centre established in this fiscal year. More such centres would be established in the coming days, according to the state-owned oil monopoly.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Plans are afoot to establish such centres at Bharatpur Airport and Jumla Airport within this fiscal year, informed Umesh Prasad Thani, executive director of the NOC.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">At present, around 900 to 1,000 passengers are availing services from the Simara Airport operating some 9 flights to and from it on a daily basis. -- RSS</span></span></span></p>
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			'title' => 'Price of Large Tomatoes Imported from India Increases by 76 Percent',
			'sub_title' => '',
			'summary' => 'December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The Kalimati Fruits and Vegetables Market Development Committee confirmed that the price of Indian tomatoes has increased by 76.74 percent in one month. According to the committee, last month Indian tomatoes were sold at Rs 53 per kg, which has increased to Rs 95 per kg now.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">Traders say that the demand for this large tomatoes, which is used as a salad in banquets during feasts, has also increased with the onset of winter. They say that there is a lot of demand for such tomatoes during weddings and therefore the price has increased.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The price of big tomatoes produced in Nepal has also increased by 15 percent in a month. Last month, locally-produced big tomatoes were sold at Rs 65 per kg, but has increased to Rs 75 per kg at present. Meanwhile, the price of small local tomatoes has decreased by 59 percent and small tomatoes produced through tunnel farming has dropped by 42 percent.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'ADB to Extend Support for Climate Resilience in Hindu Kush Himalayas   ',
			'sub_title' => '',
			'summary' => 'December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, the ADB said it would undertake deep analysis of multi-hazard risks which include landslides, earthquakes, and floods&mdash;including glacier lake outbursts&mdash;and vulnerabilities in Bhutan and Nepal.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;This will help to strengthen the two governments&rsquo; capacities to conduct risk assessments in priority river basins. These assessments will be used to develop early warning systems and risk management options for future infrastructure development,&quot; the statement reads, adding that the Hindu Kush Himalayas &ndash; home to the largest ice reserves outside of the polar regions &ndash; feed 10 major rivers which sustain the livelihoods of 240 million people in the mountains and more than 1.6 billion people downstream.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The region is warming faster than the global average and if global temperature rise hits 3&deg;C, 75% of glaciers in Bhutan and Nepal could melt by the end of this century. That would place unprecedented stress on access to water, threaten food and energy security, and result in significant biodiversity loss.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;The roof of the world is melting,&rdquo; said ADB President Masatsugu Asakawa, &ldquo;The Hindu Kush Himalaya region is critical to the well-being and economic security of more than a billion people across our region. This initiative will help equip Bhutan and Nepal with essential information and enable them to invest in effective climate adaptation&mdash;which is now critical to managing climate risk.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, from 1985 to 2014, economic losses resulting from disasters in the Hindu Kush Himalayas region totaled $45 billion, much higher than those of any other mountain region. Since then, the increasing frequency and intensity of disaster events have pushed up economic losses and the number of people killed or displaced by such events.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">ADB&rsquo;s assistance will help the governments, private sector, and local communities to understand the risks they face so they can decide on disaster risk reduction and adaptation measures, as well as risk transfer solutions including insurance. The technical assistance will set the stage for advancing knowledge across the Hindu Kush Himalaya region on climate resilient investment planning, development, and risk management, added the statement. &nbsp;-- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Snowfall in Upper Belt of Gorkha Throws Life out of Gear',
			'sub_title' => '',
			'summary' => 'December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Chumchet and Chhekampar of Chum valley and Lho, Prok and Samagaon of Nubri valley were covered with snow, causing severe cold.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Hotel entrepreneur at Samdo, Nima Dorje Lama, informed that the snowfall has caused sheer inconvenience to daily life. Grazing cattle and collecting grass and fodder has been difficult.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The people are also facing problems of drinking water as the water has frozen at its source. Especially the elderly people, children and sick have been hit hard by the chill.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Samdo village is located at 3,500 meters above the sea level. A local Chhang Dorje Lama informed that the highlands of mountain region were blanketed with snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The snow has also caused difficulty in the movement of foreign and domestic trekkers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Manaslu Conservation Area Project (MCAP) office said the tourists arrived at Manaslu area were bound to stay inside hotels.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers here have been elated with the snowfall as it would be beneficial for winter crops and fruits.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
<span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall disrupts Mid-Hill Highway in Baglung</span></strong>&nbsp;&nbsp;&nbsp;<br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the snowfall taking place from Monday morning has disrupted vehicular movement along the Baglung-Rukum East section of the Mid-Hill Highway.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The local residents said that the snowfall has occurred at Nisikhola in Baglung and Patihalne of Rukum East.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Til Bahadur Ghartimagar, a local resident, said that vehicles have remained completely off the road due to continuous snowfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area witnessed rainfall since Sunday evening and snowfall since early morning on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Ghartimagar, the cattle taken for grazing have been taken to the lowlands due to snowfall there. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area of the Dhorpatan Hunting Reserve is covered with snow and the normal life of the people there is badly affected. The Dhorpatan valley and the highlands are covered with snow, hotelier Ganga Bahadur Bhandari said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers there are also elated with the snowfall coupled with rain, which occurred after a long gap as they are hopeful of better yield of the winter crops. -- RSS</span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '19373',
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	(int) 1 => array(
		'Article' => array(
			'id' => '19644',
			'article_category_id' => '1',
			'title' => 'Habib Bank to Sell its Shares in Himalayan Bank to Himalayan Reinsurance Company',
			'sub_title' => '',
			'summary' => 'December 5: Pakistan’s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 5: Pakistan&rsquo;s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Sources informed that Habib and Himalayan Reinsurance have reached an agreement for the purchase and sale of shares at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">130</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share and a correspondence has been sent to Nepal Rastra Bank for approval. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Before the merger of Himalayan Bank with Civil Bank, Habib owned </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent shares in Himalayan Bank. When shares were adjusted after the merger, Habib&#39;s ownership fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Accordingly, Habib Bank is going to sell </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">28</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">447</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> shares. However, neither the two banks nor the reinsurance company and Nepal Rastra Bank have formally informed about this deal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the provisions of the Banks and Financial Institutions Act (BAFIA), promoter shares cannot be sold for five years of operation of banks and financial institutions. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the approval of the central bank is required for the sale of shares of companies and organizations with more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent share ownership. According to the provisions of the Act, the purchase and sale process will proceed only after the central bank approves the agreement between Habib and Himalayan Reinsurance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Habib Bank had tried to sell shares of Himalayan Bank four years ago. Although Habib made an agreement with the British Commonwealth Development Corporation (CDC), it was broken after the opposition from Himalayan Bank&#39;s management.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Now the reinsurance company is going to buy the shares. The chairman of the company is Shekhar Golcha of Golcha Group. He is also the former president of the Federation of Nepalese Chamber of Commerce and Industries.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 2 => array(
		'Article' => array(
			'id' => '19641',
			'article_category_id' => '1',
			'title' => 'Private Sector Company Trans Nepal Freight gets Responsibility to Operate Chobhar Dry Port   ',
			'sub_title' => '',
			'summary' => 'December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal Intermodal Transport Development Committee is currently entrusted with the operation of the dry port.</span> <span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee is a regulatory body formed in accordance with the Nepal Intermodal Transport Development Committee (formation) Order, 2054.&nbsp; As per the agreement signed on Monday, Trans Nepal Freight will operate and manage Chobhar Dry Port from December 15.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Director of the committee Yubak Dangol and Managing Director of Trans Nepal Freight, Mukesh Kumar Rathi, signed the contract agreement in the presence of the committee&rsquo;s Executive Director Ashish Gajurel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee had issued international tender bids on July 24 for the operation and management of the dry port and integrated check post as well as container freight station under the committee. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, Executive Director Gajurel shared that the commercial use of Chobhar Dry Port has increased within 20 months of its operation and the government will get more revenue if the operation and management of the dry port is given to the private sector.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Managing Director Rathi expressed the belief that the support received earlier from other government bodies and stakeholders including Nepal Intermodal Transport Development Committee will continue for the effective operation and management of the dry port in the coming days. -- RSS</span></span></span></p>
',
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			'image' => '20231205112519_Chobhar Dy port.jpg',
			'article_date' => '2023-12-05 11:24:41',
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	(int) 3 => array(
		'Article' => array(
			'id' => '19640',
			'article_category_id' => '1',
			'title' => 'PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   ',
			'sub_title' => '',
			'summary' => 'December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal procedures.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell&#39;s share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal&#39;s existing laws and legal procedures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prime Minister&#39;s press coordinator Surya Kiran Sharma told the state-owned RSS that the PM has directed the authorities to take stock about the legal compliance behind the deal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Sharma shared that PM Dahal has asked to immediately study the status of Nepal&#39;s telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Malaysian company &#39;Axiata Group Berhad&#39; had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company based in the UK.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well, RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Axiata, which purchased the shares of Ncell from Swedish company TeliaSonera in 2016 for Rs143 billion recently decided to sell its stakes in less than Rs 7 billion, raising suspicion about the deal.</span></span></span></p>
',
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			'sortorder' => '19368',
			'image' => '20231205103733_ncell.jpg',
			'article_date' => '2023-12-05 10:36:49',
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	(int) 4 => array(
		'Article' => array(
			'id' => '19639',
			'article_category_id' => '1',
			'title' => 'Govt Confirms Death of Six Nepalis serving in Russian Army   ',
			'sub_title' => '',
			'summary' => 'December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. The Russian government has been urged to promptly send the bodies back to their homes and ensure compensation to the bereaved families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Monday, the Ministry of Foreign Affairs said that the government has identified the deceased. The government has urged Russia not to recruit any Nepali citizens in its military force and if anyone is still serving, to return him/her to Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Earlier on August 1, the government issued a notice stating that the government has no policy of approving the recruitment of any Nepali citizens in foreign military forces expect in the national army of a few friendly nations in accordance with the long-standing agreement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the ministry, it has received information about the demise of six Nepali citizens working for the Russian military force.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The government has expressed condolences to the dead ones and expressed deep sympathies to their families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Those Nepalis dead while working for the Russian Army include Sandip Thapaliya of Gorkha, Rupak Karki of Kapilbastu, Dewan Rai of Kaski, Pritam Karki of Syangja, Raj Kumar Roka of Dolakha and Gangaraj Moktan of Ilam.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the ministry said that diplomatic initiatives are ongoing to repatriate one Bibek Khatri, who is held hostage in Ukraine.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has urged Nepali nationals to receive approval letter to be issued from the Department of Consular Services of the Ministry of Foreign Affairs if they are travelling to Russia for other reasons except for government assignment, study purpose in Russian scholarship and businesses.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has also urged Nepalis not to get recruited in the military service of the war-ravaged nations on the basis of false information or other&#39;s temptation. -- RSS</span></span></span></p>
',
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			'image' => '20231205101148_russ.jpg',
			'article_date' => '2023-12-05 10:11:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '19638',
			'article_category_id' => '1',
			'title' => 'Manang Draws Highest Number of Foreign Tourists Since COVID-19',
			'sub_title' => '',
			'summary' => 'Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic. According to Annapurna Conservation Area Project (ACAP)'s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Annapurna Conservation Area Project (ACAP)&#39;s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">ACAP&#39;s Manang Office Chief, Dhak Bahadur Bhujel, shared that Manang welcomed most tourists in October. The tourists mostly visited&nbsp;the district for adventure trekking in the rugged high hills and mountainous zone.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among all the foreign tourists who visited Manang from January to November this year, the French arrived in the highest number followed by Israeli, German, British, American, and Russian, informed Bhujel.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, tourists from Austria, the Netherlands, and India reached Manang, according to the ACAP, Manang. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2022, a total of 15,903 foreign tourists had visited the district. (RSS)&nbsp;</span></span></p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '19637',
			'article_category_id' => '1',
			'title' => 'Snowfall in Dhorpatan Hits Life Hard',
			'sub_title' => '',
			'summary' => 'Dhorpatan witnessed this season's first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Dhorpatan witnessed this season&#39;s first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;This is the first time snowfall in Dhorpatan this year. Dhorpatan Valley has been blanketed with snow. Normal life has been affected due to the freezing cold due to the snowfall,&quot; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It has become difficult to even give fodder, feed and water to the livestock due to the snow, said Kul Bahadur BK, a local of Dhorpatan. (RSS) </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-12-04',
			'modified' => '2023-12-04',
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			'sortorder' => '19365',
			'image' => '20231204043354_collage (19).jpg',
			'article_date' => '2023-12-04 16:33:07',
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	(int) 7 => array(
		'Article' => array(
			'id' => '19636',
			'article_category_id' => '1',
			'title' => 'NEPSE Drops 3.42 Points to Close at 1847.81',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday.  ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday. &nbsp;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The persistent bearish trend in the market has been attributed to several factors, including the prevailing negative psychology among investors and the stringent policies of the Nepal Rastra Bank regarding the stock market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day&#39;s trading session, a total of 292 scrips were traded, involving 43,428 transactions and 3,896,287 units of shares, with a total turnover of Rs 1.19 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Sonapur Minerals and Oil Limited (SONA) led in turnover, reaching 7.46 crores and closing at a market price of Rs 300 per share.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Meanwhile, Samaj Laghubitta Bitiya Sanstha (SAMAJ) experienced the highest gain at 8.06%, whereas NRN Infrastructure and Development (NRN) and Mountain Energy Nepal Limited (MEN) each incurred losses of 9.99%, closing at market prices of Rs 311 and Rs 477, respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, the Development Bank Index, Finance Index, Life Insurance, Non-Life Insurance, and Mutual Fund closed in the green zone, while other sectors ended up in the red zone.</span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '19635',
			'article_category_id' => '1',
			'title' => 'IPO Approval Stalled Since October 18',
			'sub_title' => '',
			'summary' => 'December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October 18.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The regulatory body took such decision following complaints that the secondary market has been flooded with Initial Public Offerings (IPO).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">On October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8, the Board had allowed Himalayan Reinsurance Limited to sell its IPO at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">206</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share with premium price. Since then, the IPO issuance has been suspended.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">SEBON Chairman Ramesh Kumar Hamal put the process of issuing IPOs on hold after the board was criticizing even for issuing IPOs of the companies that had completed all the due processes as per the rules. Hamal claimed that even though he was working as per the rules, he had to face many legal battles which have affected the performance of the board.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After he was criticized for approving the files that had completed the legal processes, Chairman Hamal is considering that the IPOs should be approved by the board of directors. He said that the proposal has not reached the Board of Directors as discussions are ongoing with the management on whether or not the policy put forward by him will be effective for the long-term development of the secondary market.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Hamal said that the issuance of IPOs is being done in a clean and transparent manner by forming a department for the approval process..</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After the Board delayed the IPO approval process, the investors have insisted on finding a way out soon. Acting President of Share Investors Association (Nepal) Tara Prasad Fullel said that it is not appropriate to stop the IPO approval process. He argued that the regulatory body should not delay the IPO approval by violating its own rules because of criticism.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Lately, the board had given special priority to IPOs. Due to this priority of the board, many companies from the real sector to the hydropower sector have shown interest in IPO. The board opened the way from allowing profitable companies to issue IPO at a premium price to sell shares through the book building method.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The process of selling shares through the book building method was done by Sarvottam Cement. The cut-off price of the IPO sold to qualified institutional investors has been fixed at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">401</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">per shares. Now the company will sell shares to the general public at </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent less than this price.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '19634',
			'article_category_id' => '1',
			'title' => 'Rate of Return of Microfinance Companies Declining',
			'sub_title' => '',
			'summary' => 'December 4: The rate of return of microfinance companies has started to decline.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The rate of return of microfinance companies has started to decline.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The slump in economic activities due to the effects of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> epidemic and Russia-Ukraine war among others have resulted in the decline in the profit of microfinance companies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Nepal Rastra Bank&#39;s decision to set the ceiling on interest rates, service charges, etc has also reduced the income of microfinance companies. In recent times, the return on equity (ROE) of microfinance companies has been decreasing due to the increase in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to Nepal Rastra Bank, the average ROE of microfinance institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">61.8</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2071/72. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">By March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. The rate of return on equity decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076/77</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, but then it increased. However, last year, the return of investment decreased due to the decrease in economic activity and the rise in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The committee formed to study the problems of microfinance companies has also pointed out that investors are attracted towards microfinance due to high profits but the rate of return has been decreasing of late. According to the committee, the return on equity of commercial banks remained at an average of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10.30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent from </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2072</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2080</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, while that of microfinance was above </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Investors were more enthusiastic about microfinance due to this return.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The return on equity of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> institutions turned negative as of March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, indicating that the financial condition of the microfinance institutions has been deteriorating, the committee mentioned in the report.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Microfinance companies were established to provide financial services to the underprivileged groups who are out the reach of banks and financial institutions. With the increase in complaints of high interest rates from these institutions, the central bank has started fixing ceiling on interest rates since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Initially, microfinance companies were not allowed to charge more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent but that was lowered to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has also set a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent on the service fee charged by them.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The microfinance operators are demanding a system under which they can determine the interest rate by adding a certain percentage premium to the base rate. The study committee has also recommended to implement the base rate as in case of banks and financial institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The number of microfinance institutions that have obtained permission from the NRB reached the peak in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2075</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> when there were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">91</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> such institutions</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">With the central bank&#39;s emphasis on merger and acquisition, the number of microfinance institutions fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">63</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From the year </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2070/71</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078/79</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, the non-performing loan of microfinance was less than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent of the total loan, but after March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.43</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The study committee has suggested that the microfinance companies cannot be sustainable if the rate of return is weak. It has suggested setting a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent on dividend distribution and removing the limit on the interest rate and applying the spread rate.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19633',
			'article_category_id' => '1',
			'title' => 'Snowfall in Humla, Mustang   ',
			'sub_title' => '',
			'summary' => 'December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall.     ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A health worker at Halji health post located at Namkha rural municipality-6, Lokesh Bohara, said that snowfall has been taking place at the lower belt along with Simkot and snow up to around one feet has piled up at the northern areas of the district. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">People are facing problem to commute due to the snowfall, he shared.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Air service has also been affected due to the snowfall and passengers heading out of the district have been stranded in Simkot. Simkot has witnessed up to four inches of snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the other hand, farmers are elated with snowfall as they hope it would be good for different types of crops&mdash;wheat, barley and others.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Mustang sees season&#39;s first snowfall&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall took place in Mustang for first time this season. The snowfall started since Monday morning. It is snowing in all areas including the district headquarters, Jomsom, said Ram Prasad Adhikari, the Assistant Chief District Officer.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, although it is raining since the morning, offices are open and the means of transport are also operating.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although life has been affected due to cold, the farmers are elated with the snowfall. The crops cultivated by farmers had started to wilt away due to drought.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The crops and vegetables are going to prosper due to the precipitation this season. Although the sky used to be cloudy, there was no rain before this. It&#39;s good that it snowed today,&quot; he said. -- RSS</span></span></span></p>
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			'image' => '20231204013138_DB_Simkot-IMG_20231204_082534_437.jpg',
			'article_date' => '2023-12-04 13:30:41',
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	(int) 11 => array(
		'Article' => array(
			'id' => '19632',
			'article_category_id' => '1',
			'title' => 'Gold Price Hits New Record         ',
			'sub_title' => '',
			'summary' => 'December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has increased by Rs 800 per tola on Monday as compared to Sunday. It was traded at Rs 120,800 on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, price of worked gold has been determined at Rs 121,000 per tola on Monday against Rs 120,200 on Sunday. Silver is being traded at Rs 1,545 per tola on Monday. -- RSS</span></span></span></p>
',
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			'sortorder' => '19360',
			'image' => '20231204011852_goldee.jpg',
			'article_date' => '2023-12-04 13:18:05',
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	(int) 12 => array(
		'Article' => array(
			'id' => '19631',
			'article_category_id' => '1',
			'title' => 'Aviation Refueling Centre Established at Simara Airport',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Simara Airport, the second oldest airport after the Kathmandu-based Tribhuvan International Airport, did not have refueling facility until now.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Rijal, on the occasion, said that the NOC had been providing the LPG gas cylinders to the consumers at a cheap price despite incurring loss.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, NOC Spokesperson Manoj Thakur said the newly inaugurated centre would facilitate internal flights.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The operation of the centre has ended the situation of diverting flights towards Bhairahawa or Biratnagar in case of bad weather or pressure of air traffic in Kathmandu, he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The flight time from Kathmandu to Simara is 15 minutes in average.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The refueling centre is expected to benefit both the aviation industry and air travelers by strengthening the connectivity and accessibility of air travel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It is the first refueling centre established in this fiscal year. More such centres would be established in the coming days, according to the state-owned oil monopoly.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Plans are afoot to establish such centres at Bharatpur Airport and Jumla Airport within this fiscal year, informed Umesh Prasad Thani, executive director of the NOC.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">At present, around 900 to 1,000 passengers are availing services from the Simara Airport operating some 9 flights to and from it on a daily basis. -- RSS</span></span></span></p>
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			'sortorder' => '19359',
			'image' => '20231204092404_Simara-Airport.jpg',
			'article_date' => '2023-12-04 09:23:25',
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			'id' => '19630',
			'article_category_id' => '1',
			'title' => 'Price of Large Tomatoes Imported from India Increases by 76 Percent',
			'sub_title' => '',
			'summary' => 'December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The Kalimati Fruits and Vegetables Market Development Committee confirmed that the price of Indian tomatoes has increased by 76.74 percent in one month. According to the committee, last month Indian tomatoes were sold at Rs 53 per kg, which has increased to Rs 95 per kg now.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">Traders say that the demand for this large tomatoes, which is used as a salad in banquets during feasts, has also increased with the onset of winter. They say that there is a lot of demand for such tomatoes during weddings and therefore the price has increased.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The price of big tomatoes produced in Nepal has also increased by 15 percent in a month. Last month, locally-produced big tomatoes were sold at Rs 65 per kg, but has increased to Rs 75 per kg at present. Meanwhile, the price of small local tomatoes has decreased by 59 percent and small tomatoes produced through tunnel farming has dropped by 42 percent.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'ADB to Extend Support for Climate Resilience in Hindu Kush Himalayas   ',
			'sub_title' => '',
			'summary' => 'December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, the ADB said it would undertake deep analysis of multi-hazard risks which include landslides, earthquakes, and floods&mdash;including glacier lake outbursts&mdash;and vulnerabilities in Bhutan and Nepal.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;This will help to strengthen the two governments&rsquo; capacities to conduct risk assessments in priority river basins. These assessments will be used to develop early warning systems and risk management options for future infrastructure development,&quot; the statement reads, adding that the Hindu Kush Himalayas &ndash; home to the largest ice reserves outside of the polar regions &ndash; feed 10 major rivers which sustain the livelihoods of 240 million people in the mountains and more than 1.6 billion people downstream.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The region is warming faster than the global average and if global temperature rise hits 3&deg;C, 75% of glaciers in Bhutan and Nepal could melt by the end of this century. That would place unprecedented stress on access to water, threaten food and energy security, and result in significant biodiversity loss.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;The roof of the world is melting,&rdquo; said ADB President Masatsugu Asakawa, &ldquo;The Hindu Kush Himalaya region is critical to the well-being and economic security of more than a billion people across our region. This initiative will help equip Bhutan and Nepal with essential information and enable them to invest in effective climate adaptation&mdash;which is now critical to managing climate risk.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, from 1985 to 2014, economic losses resulting from disasters in the Hindu Kush Himalayas region totaled $45 billion, much higher than those of any other mountain region. Since then, the increasing frequency and intensity of disaster events have pushed up economic losses and the number of people killed or displaced by such events.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">ADB&rsquo;s assistance will help the governments, private sector, and local communities to understand the risks they face so they can decide on disaster risk reduction and adaptation measures, as well as risk transfer solutions including insurance. The technical assistance will set the stage for advancing knowledge across the Hindu Kush Himalaya region on climate resilient investment planning, development, and risk management, added the statement. &nbsp;-- RSS</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19643',
			'article_category_id' => '1',
			'title' => 'Snowfall in Upper Belt of Gorkha Throws Life out of Gear',
			'sub_title' => '',
			'summary' => 'December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Chumchet and Chhekampar of Chum valley and Lho, Prok and Samagaon of Nubri valley were covered with snow, causing severe cold.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Hotel entrepreneur at Samdo, Nima Dorje Lama, informed that the snowfall has caused sheer inconvenience to daily life. Grazing cattle and collecting grass and fodder has been difficult.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The people are also facing problems of drinking water as the water has frozen at its source. Especially the elderly people, children and sick have been hit hard by the chill.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Samdo village is located at 3,500 meters above the sea level. A local Chhang Dorje Lama informed that the highlands of mountain region were blanketed with snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The snow has also caused difficulty in the movement of foreign and domestic trekkers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Manaslu Conservation Area Project (MCAP) office said the tourists arrived at Manaslu area were bound to stay inside hotels.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers here have been elated with the snowfall as it would be beneficial for winter crops and fruits.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
<span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall disrupts Mid-Hill Highway in Baglung</span></strong>&nbsp;&nbsp;&nbsp;<br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the snowfall taking place from Monday morning has disrupted vehicular movement along the Baglung-Rukum East section of the Mid-Hill Highway.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The local residents said that the snowfall has occurred at Nisikhola in Baglung and Patihalne of Rukum East.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Til Bahadur Ghartimagar, a local resident, said that vehicles have remained completely off the road due to continuous snowfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area witnessed rainfall since Sunday evening and snowfall since early morning on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Ghartimagar, the cattle taken for grazing have been taken to the lowlands due to snowfall there. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area of the Dhorpatan Hunting Reserve is covered with snow and the normal life of the people there is badly affected. The Dhorpatan valley and the highlands are covered with snow, hotelier Ganga Bahadur Bhandari said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers there are also elated with the snowfall coupled with rain, which occurred after a long gap as they are hopeful of better yield of the winter crops. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '19644',
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			'title' => 'Habib Bank to Sell its Shares in Himalayan Bank to Himalayan Reinsurance Company',
			'sub_title' => '',
			'summary' => 'December 5: Pakistan’s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 5: Pakistan&rsquo;s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Sources informed that Habib and Himalayan Reinsurance have reached an agreement for the purchase and sale of shares at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">130</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share and a correspondence has been sent to Nepal Rastra Bank for approval. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Before the merger of Himalayan Bank with Civil Bank, Habib owned </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent shares in Himalayan Bank. When shares were adjusted after the merger, Habib&#39;s ownership fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Accordingly, Habib Bank is going to sell </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">28</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">447</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> shares. However, neither the two banks nor the reinsurance company and Nepal Rastra Bank have formally informed about this deal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the provisions of the Banks and Financial Institutions Act (BAFIA), promoter shares cannot be sold for five years of operation of banks and financial institutions. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the approval of the central bank is required for the sale of shares of companies and organizations with more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent share ownership. According to the provisions of the Act, the purchase and sale process will proceed only after the central bank approves the agreement between Habib and Himalayan Reinsurance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Habib Bank had tried to sell shares of Himalayan Bank four years ago. Although Habib made an agreement with the British Commonwealth Development Corporation (CDC), it was broken after the opposition from Himalayan Bank&#39;s management.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Now the reinsurance company is going to buy the shares. The chairman of the company is Shekhar Golcha of Golcha Group. He is also the former president of the Federation of Nepalese Chamber of Commerce and Industries.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '19372',
			'image' => '20231205124741_jpgShare-Swap-02-1024x428.jpg',
			'article_date' => '2023-12-05 12:47:07',
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	(int) 2 => array(
		'Article' => array(
			'id' => '19641',
			'article_category_id' => '1',
			'title' => 'Private Sector Company Trans Nepal Freight gets Responsibility to Operate Chobhar Dry Port   ',
			'sub_title' => '',
			'summary' => 'December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal Intermodal Transport Development Committee is currently entrusted with the operation of the dry port.</span> <span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee is a regulatory body formed in accordance with the Nepal Intermodal Transport Development Committee (formation) Order, 2054.&nbsp; As per the agreement signed on Monday, Trans Nepal Freight will operate and manage Chobhar Dry Port from December 15.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Director of the committee Yubak Dangol and Managing Director of Trans Nepal Freight, Mukesh Kumar Rathi, signed the contract agreement in the presence of the committee&rsquo;s Executive Director Ashish Gajurel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee had issued international tender bids on July 24 for the operation and management of the dry port and integrated check post as well as container freight station under the committee. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, Executive Director Gajurel shared that the commercial use of Chobhar Dry Port has increased within 20 months of its operation and the government will get more revenue if the operation and management of the dry port is given to the private sector.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Managing Director Rathi expressed the belief that the support received earlier from other government bodies and stakeholders including Nepal Intermodal Transport Development Committee will continue for the effective operation and management of the dry port in the coming days. -- RSS</span></span></span></p>
',
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			'description' => '',
			'sortorder' => '19369',
			'image' => '20231205112519_Chobhar Dy port.jpg',
			'article_date' => '2023-12-05 11:24:41',
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	(int) 3 => array(
		'Article' => array(
			'id' => '19640',
			'article_category_id' => '1',
			'title' => 'PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   ',
			'sub_title' => '',
			'summary' => 'December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal procedures.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell&#39;s share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal&#39;s existing laws and legal procedures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prime Minister&#39;s press coordinator Surya Kiran Sharma told the state-owned RSS that the PM has directed the authorities to take stock about the legal compliance behind the deal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Sharma shared that PM Dahal has asked to immediately study the status of Nepal&#39;s telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Malaysian company &#39;Axiata Group Berhad&#39; had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company based in the UK.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well, RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Axiata, which purchased the shares of Ncell from Swedish company TeliaSonera in 2016 for Rs143 billion recently decided to sell its stakes in less than Rs 7 billion, raising suspicion about the deal.</span></span></span></p>
',
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			'sortorder' => '19368',
			'image' => '20231205103733_ncell.jpg',
			'article_date' => '2023-12-05 10:36:49',
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	(int) 4 => array(
		'Article' => array(
			'id' => '19639',
			'article_category_id' => '1',
			'title' => 'Govt Confirms Death of Six Nepalis serving in Russian Army   ',
			'sub_title' => '',
			'summary' => 'December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. The Russian government has been urged to promptly send the bodies back to their homes and ensure compensation to the bereaved families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Monday, the Ministry of Foreign Affairs said that the government has identified the deceased. The government has urged Russia not to recruit any Nepali citizens in its military force and if anyone is still serving, to return him/her to Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Earlier on August 1, the government issued a notice stating that the government has no policy of approving the recruitment of any Nepali citizens in foreign military forces expect in the national army of a few friendly nations in accordance with the long-standing agreement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the ministry, it has received information about the demise of six Nepali citizens working for the Russian military force.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The government has expressed condolences to the dead ones and expressed deep sympathies to their families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Those Nepalis dead while working for the Russian Army include Sandip Thapaliya of Gorkha, Rupak Karki of Kapilbastu, Dewan Rai of Kaski, Pritam Karki of Syangja, Raj Kumar Roka of Dolakha and Gangaraj Moktan of Ilam.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the ministry said that diplomatic initiatives are ongoing to repatriate one Bibek Khatri, who is held hostage in Ukraine.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has urged Nepali nationals to receive approval letter to be issued from the Department of Consular Services of the Ministry of Foreign Affairs if they are travelling to Russia for other reasons except for government assignment, study purpose in Russian scholarship and businesses.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has also urged Nepalis not to get recruited in the military service of the war-ravaged nations on the basis of false information or other&#39;s temptation. -- RSS</span></span></span></p>
',
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			'image' => '20231205101148_russ.jpg',
			'article_date' => '2023-12-05 10:11:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '19638',
			'article_category_id' => '1',
			'title' => 'Manang Draws Highest Number of Foreign Tourists Since COVID-19',
			'sub_title' => '',
			'summary' => 'Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic. According to Annapurna Conservation Area Project (ACAP)'s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Annapurna Conservation Area Project (ACAP)&#39;s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">ACAP&#39;s Manang Office Chief, Dhak Bahadur Bhujel, shared that Manang welcomed most tourists in October. The tourists mostly visited&nbsp;the district for adventure trekking in the rugged high hills and mountainous zone.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among all the foreign tourists who visited Manang from January to November this year, the French arrived in the highest number followed by Israeli, German, British, American, and Russian, informed Bhujel.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, tourists from Austria, the Netherlands, and India reached Manang, according to the ACAP, Manang. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2022, a total of 15,903 foreign tourists had visited the district. (RSS)&nbsp;</span></span></p>
',
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			'image' => '20231205101259_20231118091755_Manang becoming a Preferred Choice among Domestic Tourists.jpg',
			'article_date' => '2023-12-05 05:50:45',
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	(int) 6 => array(
		'Article' => array(
			'id' => '19637',
			'article_category_id' => '1',
			'title' => 'Snowfall in Dhorpatan Hits Life Hard',
			'sub_title' => '',
			'summary' => 'Dhorpatan witnessed this season's first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Dhorpatan witnessed this season&#39;s first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;This is the first time snowfall in Dhorpatan this year. Dhorpatan Valley has been blanketed with snow. Normal life has been affected due to the freezing cold due to the snowfall,&quot; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It has become difficult to even give fodder, feed and water to the livestock due to the snow, said Kul Bahadur BK, a local of Dhorpatan. (RSS) </span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2023-12-04',
			'modified' => '2023-12-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '19365',
			'image' => '20231204043354_collage (19).jpg',
			'article_date' => '2023-12-04 16:33:07',
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	(int) 7 => array(
		'Article' => array(
			'id' => '19636',
			'article_category_id' => '1',
			'title' => 'NEPSE Drops 3.42 Points to Close at 1847.81',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday.  ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday. &nbsp;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The persistent bearish trend in the market has been attributed to several factors, including the prevailing negative psychology among investors and the stringent policies of the Nepal Rastra Bank regarding the stock market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day&#39;s trading session, a total of 292 scrips were traded, involving 43,428 transactions and 3,896,287 units of shares, with a total turnover of Rs 1.19 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Sonapur Minerals and Oil Limited (SONA) led in turnover, reaching 7.46 crores and closing at a market price of Rs 300 per share.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Meanwhile, Samaj Laghubitta Bitiya Sanstha (SAMAJ) experienced the highest gain at 8.06%, whereas NRN Infrastructure and Development (NRN) and Mountain Energy Nepal Limited (MEN) each incurred losses of 9.99%, closing at market prices of Rs 311 and Rs 477, respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, the Development Bank Index, Finance Index, Life Insurance, Non-Life Insurance, and Mutual Fund closed in the green zone, while other sectors ended up in the red zone.</span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '19364',
			'image' => '20231204033514_collage (17).jpg',
			'article_date' => '2023-12-04 15:34:11',
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	(int) 8 => array(
		'Article' => array(
			'id' => '19635',
			'article_category_id' => '1',
			'title' => 'IPO Approval Stalled Since October 18',
			'sub_title' => '',
			'summary' => 'December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October 18.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The regulatory body took such decision following complaints that the secondary market has been flooded with Initial Public Offerings (IPO).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">On October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8, the Board had allowed Himalayan Reinsurance Limited to sell its IPO at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">206</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share with premium price. Since then, the IPO issuance has been suspended.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">SEBON Chairman Ramesh Kumar Hamal put the process of issuing IPOs on hold after the board was criticizing even for issuing IPOs of the companies that had completed all the due processes as per the rules. Hamal claimed that even though he was working as per the rules, he had to face many legal battles which have affected the performance of the board.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After he was criticized for approving the files that had completed the legal processes, Chairman Hamal is considering that the IPOs should be approved by the board of directors. He said that the proposal has not reached the Board of Directors as discussions are ongoing with the management on whether or not the policy put forward by him will be effective for the long-term development of the secondary market.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Hamal said that the issuance of IPOs is being done in a clean and transparent manner by forming a department for the approval process..</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After the Board delayed the IPO approval process, the investors have insisted on finding a way out soon. Acting President of Share Investors Association (Nepal) Tara Prasad Fullel said that it is not appropriate to stop the IPO approval process. He argued that the regulatory body should not delay the IPO approval by violating its own rules because of criticism.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Lately, the board had given special priority to IPOs. Due to this priority of the board, many companies from the real sector to the hydropower sector have shown interest in IPO. The board opened the way from allowing profitable companies to issue IPO at a premium price to sell shares through the book building method.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The process of selling shares through the book building method was done by Sarvottam Cement. The cut-off price of the IPO sold to qualified institutional investors has been fixed at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">401</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">per shares. Now the company will sell shares to the general public at </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent less than this price.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '19634',
			'article_category_id' => '1',
			'title' => 'Rate of Return of Microfinance Companies Declining',
			'sub_title' => '',
			'summary' => 'December 4: The rate of return of microfinance companies has started to decline.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The rate of return of microfinance companies has started to decline.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The slump in economic activities due to the effects of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> epidemic and Russia-Ukraine war among others have resulted in the decline in the profit of microfinance companies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Nepal Rastra Bank&#39;s decision to set the ceiling on interest rates, service charges, etc has also reduced the income of microfinance companies. In recent times, the return on equity (ROE) of microfinance companies has been decreasing due to the increase in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to Nepal Rastra Bank, the average ROE of microfinance institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">61.8</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2071/72. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">By March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. The rate of return on equity decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076/77</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, but then it increased. However, last year, the return of investment decreased due to the decrease in economic activity and the rise in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The committee formed to study the problems of microfinance companies has also pointed out that investors are attracted towards microfinance due to high profits but the rate of return has been decreasing of late. According to the committee, the return on equity of commercial banks remained at an average of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10.30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent from </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2072</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2080</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, while that of microfinance was above </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Investors were more enthusiastic about microfinance due to this return.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The return on equity of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> institutions turned negative as of March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, indicating that the financial condition of the microfinance institutions has been deteriorating, the committee mentioned in the report.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Microfinance companies were established to provide financial services to the underprivileged groups who are out the reach of banks and financial institutions. With the increase in complaints of high interest rates from these institutions, the central bank has started fixing ceiling on interest rates since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Initially, microfinance companies were not allowed to charge more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent but that was lowered to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has also set a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent on the service fee charged by them.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The microfinance operators are demanding a system under which they can determine the interest rate by adding a certain percentage premium to the base rate. The study committee has also recommended to implement the base rate as in case of banks and financial institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The number of microfinance institutions that have obtained permission from the NRB reached the peak in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2075</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> when there were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">91</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> such institutions</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">With the central bank&#39;s emphasis on merger and acquisition, the number of microfinance institutions fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">63</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From the year </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2070/71</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078/79</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, the non-performing loan of microfinance was less than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent of the total loan, but after March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.43</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The study committee has suggested that the microfinance companies cannot be sustainable if the rate of return is weak. It has suggested setting a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent on dividend distribution and removing the limit on the interest rate and applying the spread rate.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19633',
			'article_category_id' => '1',
			'title' => 'Snowfall in Humla, Mustang   ',
			'sub_title' => '',
			'summary' => 'December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall.     ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A health worker at Halji health post located at Namkha rural municipality-6, Lokesh Bohara, said that snowfall has been taking place at the lower belt along with Simkot and snow up to around one feet has piled up at the northern areas of the district. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">People are facing problem to commute due to the snowfall, he shared.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Air service has also been affected due to the snowfall and passengers heading out of the district have been stranded in Simkot. Simkot has witnessed up to four inches of snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the other hand, farmers are elated with snowfall as they hope it would be good for different types of crops&mdash;wheat, barley and others.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Mustang sees season&#39;s first snowfall&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall took place in Mustang for first time this season. The snowfall started since Monday morning. It is snowing in all areas including the district headquarters, Jomsom, said Ram Prasad Adhikari, the Assistant Chief District Officer.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, although it is raining since the morning, offices are open and the means of transport are also operating.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although life has been affected due to cold, the farmers are elated with the snowfall. The crops cultivated by farmers had started to wilt away due to drought.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The crops and vegetables are going to prosper due to the precipitation this season. Although the sky used to be cloudy, there was no rain before this. It&#39;s good that it snowed today,&quot; he said. -- RSS</span></span></span></p>
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			'image' => '20231204013138_DB_Simkot-IMG_20231204_082534_437.jpg',
			'article_date' => '2023-12-04 13:30:41',
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	(int) 11 => array(
		'Article' => array(
			'id' => '19632',
			'article_category_id' => '1',
			'title' => 'Gold Price Hits New Record         ',
			'sub_title' => '',
			'summary' => 'December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has increased by Rs 800 per tola on Monday as compared to Sunday. It was traded at Rs 120,800 on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, price of worked gold has been determined at Rs 121,000 per tola on Monday against Rs 120,200 on Sunday. Silver is being traded at Rs 1,545 per tola on Monday. -- RSS</span></span></span></p>
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			'article_date' => '2023-12-04 13:18:05',
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	(int) 12 => array(
		'Article' => array(
			'id' => '19631',
			'article_category_id' => '1',
			'title' => 'Aviation Refueling Centre Established at Simara Airport',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Simara Airport, the second oldest airport after the Kathmandu-based Tribhuvan International Airport, did not have refueling facility until now.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Rijal, on the occasion, said that the NOC had been providing the LPG gas cylinders to the consumers at a cheap price despite incurring loss.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, NOC Spokesperson Manoj Thakur said the newly inaugurated centre would facilitate internal flights.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The operation of the centre has ended the situation of diverting flights towards Bhairahawa or Biratnagar in case of bad weather or pressure of air traffic in Kathmandu, he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The flight time from Kathmandu to Simara is 15 minutes in average.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The refueling centre is expected to benefit both the aviation industry and air travelers by strengthening the connectivity and accessibility of air travel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It is the first refueling centre established in this fiscal year. More such centres would be established in the coming days, according to the state-owned oil monopoly.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Plans are afoot to establish such centres at Bharatpur Airport and Jumla Airport within this fiscal year, informed Umesh Prasad Thani, executive director of the NOC.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">At present, around 900 to 1,000 passengers are availing services from the Simara Airport operating some 9 flights to and from it on a daily basis. -- RSS</span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '19630',
			'article_category_id' => '1',
			'title' => 'Price of Large Tomatoes Imported from India Increases by 76 Percent',
			'sub_title' => '',
			'summary' => 'December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The Kalimati Fruits and Vegetables Market Development Committee confirmed that the price of Indian tomatoes has increased by 76.74 percent in one month. According to the committee, last month Indian tomatoes were sold at Rs 53 per kg, which has increased to Rs 95 per kg now.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">Traders say that the demand for this large tomatoes, which is used as a salad in banquets during feasts, has also increased with the onset of winter. They say that there is a lot of demand for such tomatoes during weddings and therefore the price has increased.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The price of big tomatoes produced in Nepal has also increased by 15 percent in a month. Last month, locally-produced big tomatoes were sold at Rs 65 per kg, but has increased to Rs 75 per kg at present. Meanwhile, the price of small local tomatoes has decreased by 59 percent and small tomatoes produced through tunnel farming has dropped by 42 percent.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '19629',
			'article_category_id' => '1',
			'title' => 'ADB to Extend Support for Climate Resilience in Hindu Kush Himalayas   ',
			'sub_title' => '',
			'summary' => 'December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, the ADB said it would undertake deep analysis of multi-hazard risks which include landslides, earthquakes, and floods&mdash;including glacier lake outbursts&mdash;and vulnerabilities in Bhutan and Nepal.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;This will help to strengthen the two governments&rsquo; capacities to conduct risk assessments in priority river basins. These assessments will be used to develop early warning systems and risk management options for future infrastructure development,&quot; the statement reads, adding that the Hindu Kush Himalayas &ndash; home to the largest ice reserves outside of the polar regions &ndash; feed 10 major rivers which sustain the livelihoods of 240 million people in the mountains and more than 1.6 billion people downstream.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The region is warming faster than the global average and if global temperature rise hits 3&deg;C, 75% of glaciers in Bhutan and Nepal could melt by the end of this century. That would place unprecedented stress on access to water, threaten food and energy security, and result in significant biodiversity loss.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;The roof of the world is melting,&rdquo; said ADB President Masatsugu Asakawa, &ldquo;The Hindu Kush Himalaya region is critical to the well-being and economic security of more than a billion people across our region. This initiative will help equip Bhutan and Nepal with essential information and enable them to invest in effective climate adaptation&mdash;which is now critical to managing climate risk.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, from 1985 to 2014, economic losses resulting from disasters in the Hindu Kush Himalayas region totaled $45 billion, much higher than those of any other mountain region. Since then, the increasing frequency and intensity of disaster events have pushed up economic losses and the number of people killed or displaced by such events.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">ADB&rsquo;s assistance will help the governments, private sector, and local communities to understand the risks they face so they can decide on disaster risk reduction and adaptation measures, as well as risk transfer solutions including insurance. The technical assistance will set the stage for advancing knowledge across the Hindu Kush Himalaya region on climate resilient investment planning, development, and risk management, added the statement. &nbsp;-- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '19643',
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			'title' => 'Snowfall in Upper Belt of Gorkha Throws Life out of Gear',
			'sub_title' => '',
			'summary' => 'December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The northern belt of Gorkha district has witnessed snowfall since Monday night. Chum and Nubri valleys located in the upper region of the district received snowfall, according to Chairman of Chumnubri Rural Municipality, Nima Lama.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Chumchet and Chhekampar of Chum valley and Lho, Prok and Samagaon of Nubri valley were covered with snow, causing severe cold.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Hotel entrepreneur at Samdo, Nima Dorje Lama, informed that the snowfall has caused sheer inconvenience to daily life. Grazing cattle and collecting grass and fodder has been difficult.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The people are also facing problems of drinking water as the water has frozen at its source. Especially the elderly people, children and sick have been hit hard by the chill.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Samdo village is located at 3,500 meters above the sea level. A local Chhang Dorje Lama informed that the highlands of mountain region were blanketed with snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The snow has also caused difficulty in the movement of foreign and domestic trekkers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Manaslu Conservation Area Project (MCAP) office said the tourists arrived at Manaslu area were bound to stay inside hotels.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers here have been elated with the snowfall as it would be beneficial for winter crops and fruits.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
<span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall disrupts Mid-Hill Highway in Baglung</span></strong>&nbsp;&nbsp;&nbsp;<br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the snowfall taking place from Monday morning has disrupted vehicular movement along the Baglung-Rukum East section of the Mid-Hill Highway.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The local residents said that the snowfall has occurred at Nisikhola in Baglung and Patihalne of Rukum East.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Til Bahadur Ghartimagar, a local resident, said that vehicles have remained completely off the road due to continuous snowfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area witnessed rainfall since Sunday evening and snowfall since early morning on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Ghartimagar, the cattle taken for grazing have been taken to the lowlands due to snowfall there. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The area of the Dhorpatan Hunting Reserve is covered with snow and the normal life of the people there is badly affected. The Dhorpatan valley and the highlands are covered with snow, hotelier Ganga Bahadur Bhandari said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, the farmers there are also elated with the snowfall coupled with rain, which occurred after a long gap as they are hopeful of better yield of the winter crops. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '19644',
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			'title' => 'Habib Bank to Sell its Shares in Himalayan Bank to Himalayan Reinsurance Company',
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			'summary' => 'December 5: Pakistan’s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 5: Pakistan&rsquo;s Habib Bank, the foreign partner of Himalayan Bank, is preparing to sell its shares in the bank to Himalayan Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Sources informed that Habib and Himalayan Reinsurance have reached an agreement for the purchase and sale of shares at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">130</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share and a correspondence has been sent to Nepal Rastra Bank for approval. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Before the merger of Himalayan Bank with Civil Bank, Habib owned </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent shares in Himalayan Bank. When shares were adjusted after the merger, Habib&#39;s ownership fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Accordingly, Habib Bank is going to sell </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">28</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">12</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">,</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">447</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> shares. However, neither the two banks nor the reinsurance company and Nepal Rastra Bank have formally informed about this deal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the provisions of the Banks and Financial Institutions Act (BAFIA), promoter shares cannot be sold for five years of operation of banks and financial institutions. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the approval of the central bank is required for the sale of shares of companies and organizations with more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent share ownership. According to the provisions of the Act, the purchase and sale process will proceed only after the central bank approves the agreement between Habib and Himalayan Reinsurance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Habib Bank had tried to sell shares of Himalayan Bank four years ago. Although Habib made an agreement with the British Commonwealth Development Corporation (CDC), it was broken after the opposition from Himalayan Bank&#39;s management.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Now the reinsurance company is going to buy the shares. The chairman of the company is Shekhar Golcha of Golcha Group. He is also the former president of the Federation of Nepalese Chamber of Commerce and Industries.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '19641',
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			'title' => 'Private Sector Company Trans Nepal Freight gets Responsibility to Operate Chobhar Dry Port   ',
			'sub_title' => '',
			'summary' => 'December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Trans Nepal Freight Services JV, selected from an international bid for the operation of Chobhar Dry Port, has signed an agreement with Nepal Intermodal Transport Development Committee to share a minimum of Rs 28.8 million rent and charge for five years while operating the newly-built facility. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal Intermodal Transport Development Committee is currently entrusted with the operation of the dry port.</span> <span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee is a regulatory body formed in accordance with the Nepal Intermodal Transport Development Committee (formation) Order, 2054.&nbsp; As per the agreement signed on Monday, Trans Nepal Freight will operate and manage Chobhar Dry Port from December 15.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Director of the committee Yubak Dangol and Managing Director of Trans Nepal Freight, Mukesh Kumar Rathi, signed the contract agreement in the presence of the committee&rsquo;s Executive Director Ashish Gajurel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The committee had issued international tender bids on July 24 for the operation and management of the dry port and integrated check post as well as container freight station under the committee. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, Executive Director Gajurel shared that the commercial use of Chobhar Dry Port has increased within 20 months of its operation and the government will get more revenue if the operation and management of the dry port is given to the private sector.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Managing Director Rathi expressed the belief that the support received earlier from other government bodies and stakeholders including Nepal Intermodal Transport Development Committee will continue for the effective operation and management of the dry port in the coming days. -- RSS</span></span></span></p>
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			'id' => '19640',
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			'title' => 'PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   ',
			'sub_title' => '',
			'summary' => 'December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal procedures.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell&#39;s share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal&#39;s existing laws and legal procedures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prime Minister&#39;s press coordinator Surya Kiran Sharma told the state-owned RSS that the PM has directed the authorities to take stock about the legal compliance behind the deal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Sharma shared that PM Dahal has asked to immediately study the status of Nepal&#39;s telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Malaysian company &#39;Axiata Group Berhad&#39; had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company based in the UK.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well, RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Axiata, which purchased the shares of Ncell from Swedish company TeliaSonera in 2016 for Rs143 billion recently decided to sell its stakes in less than Rs 7 billion, raising suspicion about the deal.</span></span></span></p>
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			'id' => '19639',
			'article_category_id' => '1',
			'title' => 'Govt Confirms Death of Six Nepalis serving in Russian Army   ',
			'sub_title' => '',
			'summary' => 'December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 5: The government has confirmed the death of six Nepali citizens serving in the Russian Army. The Russian government has been urged to promptly send the bodies back to their homes and ensure compensation to the bereaved families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Monday, the Ministry of Foreign Affairs said that the government has identified the deceased. The government has urged Russia not to recruit any Nepali citizens in its military force and if anyone is still serving, to return him/her to Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Earlier on August 1, the government issued a notice stating that the government has no policy of approving the recruitment of any Nepali citizens in foreign military forces expect in the national army of a few friendly nations in accordance with the long-standing agreement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the ministry, it has received information about the demise of six Nepali citizens working for the Russian military force.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The government has expressed condolences to the dead ones and expressed deep sympathies to their families.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Those Nepalis dead while working for the Russian Army include Sandip Thapaliya of Gorkha, Rupak Karki of Kapilbastu, Dewan Rai of Kaski, Pritam Karki of Syangja, Raj Kumar Roka of Dolakha and Gangaraj Moktan of Ilam.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the ministry said that diplomatic initiatives are ongoing to repatriate one Bibek Khatri, who is held hostage in Ukraine.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has urged Nepali nationals to receive approval letter to be issued from the Department of Consular Services of the Ministry of Foreign Affairs if they are travelling to Russia for other reasons except for government assignment, study purpose in Russian scholarship and businesses.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ministry has also urged Nepalis not to get recruited in the military service of the war-ravaged nations on the basis of false information or other&#39;s temptation. -- RSS</span></span></span></p>
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			'image' => '20231205101148_russ.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '19638',
			'article_category_id' => '1',
			'title' => 'Manang Draws Highest Number of Foreign Tourists Since COVID-19',
			'sub_title' => '',
			'summary' => 'Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic. According to Annapurna Conservation Area Project (ACAP)'s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Manang district has received the highest number of foreign tourists since the outbreak of the COVID-19 pandemic.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Annapurna Conservation Area Project (ACAP)&#39;s Area Office in Manang, over 20,800 foreign tourists came to Manang in the last 11 months. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">ACAP&#39;s Manang Office Chief, Dhak Bahadur Bhujel, shared that Manang welcomed most tourists in October. The tourists mostly visited&nbsp;the district for adventure trekking in the rugged high hills and mountainous zone.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among all the foreign tourists who visited Manang from January to November this year, the French arrived in the highest number followed by Israeli, German, British, American, and Russian, informed Bhujel.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, tourists from Austria, the Netherlands, and India reached Manang, according to the ACAP, Manang. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2022, a total of 15,903 foreign tourists had visited the district. (RSS)&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2023-12-05',
			'modified' => '2023-12-05',
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			'description' => '',
			'sortorder' => '19366',
			'image' => '20231205101259_20231118091755_Manang becoming a Preferred Choice among Domestic Tourists.jpg',
			'article_date' => '2023-12-05 05:50:45',
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	(int) 6 => array(
		'Article' => array(
			'id' => '19637',
			'article_category_id' => '1',
			'title' => 'Snowfall in Dhorpatan Hits Life Hard',
			'sub_title' => '',
			'summary' => 'Dhorpatan witnessed this season's first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: Dhorpatan witnessed this season&#39;s first snowfall on Monday. It snowed in Dhorpatan, including in the Dhorpatan Hunting Reserve in the morning, said Birendra Kandel, Chief of the Dhorpatan Hunting Reserve Office.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;This is the first time snowfall in Dhorpatan this year. Dhorpatan Valley has been blanketed with snow. Normal life has been affected due to the freezing cold due to the snowfall,&quot; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It has become difficult to even give fodder, feed and water to the livestock due to the snow, said Kul Bahadur BK, a local of Dhorpatan. (RSS) </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-12-04',
			'modified' => '2023-12-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '19365',
			'image' => '20231204043354_collage (19).jpg',
			'article_date' => '2023-12-04 16:33:07',
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	(int) 7 => array(
		'Article' => array(
			'id' => '19636',
			'article_category_id' => '1',
			'title' => 'NEPSE Drops 3.42 Points to Close at 1847.81',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday.  ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 4: The Nepal Stock Exchange (NEPSE) Index experienced a decline, losing 3.42 points or 0.18%, concluding the second trading day of the week at 1847.81 points on Monday. &nbsp;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The persistent bearish trend in the market has been attributed to several factors, including the prevailing negative psychology among investors and the stringent policies of the Nepal Rastra Bank regarding the stock market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day&#39;s trading session, a total of 292 scrips were traded, involving 43,428 transactions and 3,896,287 units of shares, with a total turnover of Rs 1.19 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Sonapur Minerals and Oil Limited (SONA) led in turnover, reaching 7.46 crores and closing at a market price of Rs 300 per share.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Meanwhile, Samaj Laghubitta Bitiya Sanstha (SAMAJ) experienced the highest gain at 8.06%, whereas NRN Infrastructure and Development (NRN) and Mountain Energy Nepal Limited (MEN) each incurred losses of 9.99%, closing at market prices of Rs 311 and Rs 477, respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, the Development Bank Index, Finance Index, Life Insurance, Non-Life Insurance, and Mutual Fund closed in the green zone, while other sectors ended up in the red zone.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2023-12-04',
			'modified' => '2023-12-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '19364',
			'image' => '20231204033514_collage (17).jpg',
			'article_date' => '2023-12-04 15:34:11',
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	(int) 8 => array(
		'Article' => array(
			'id' => '19635',
			'article_category_id' => '1',
			'title' => 'IPO Approval Stalled Since October 18',
			'sub_title' => '',
			'summary' => 'December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October 18.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The Securities Board of Nepal (SEBON) has not approved the IPO of any company from October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The regulatory body took such decision following complaints that the secondary market has been flooded with Initial Public Offerings (IPO).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">On October </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">8, the Board had allowed Himalayan Reinsurance Limited to sell its IPO at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">206</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> per share with premium price. Since then, the IPO issuance has been suspended.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">SEBON Chairman Ramesh Kumar Hamal put the process of issuing IPOs on hold after the board was criticizing even for issuing IPOs of the companies that had completed all the due processes as per the rules. Hamal claimed that even though he was working as per the rules, he had to face many legal battles which have affected the performance of the board.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After he was criticized for approving the files that had completed the legal processes, Chairman Hamal is considering that the IPOs should be approved by the board of directors. He said that the proposal has not reached the Board of Directors as discussions are ongoing with the management on whether or not the policy put forward by him will be effective for the long-term development of the secondary market.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Hamal said that the issuance of IPOs is being done in a clean and transparent manner by forming a department for the approval process..</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">After the Board delayed the IPO approval process, the investors have insisted on finding a way out soon. Acting President of Share Investors Association (Nepal) Tara Prasad Fullel said that it is not appropriate to stop the IPO approval process. He argued that the regulatory body should not delay the IPO approval by violating its own rules because of criticism.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Lately, the board had given special priority to IPOs. Due to this priority of the board, many companies from the real sector to the hydropower sector have shown interest in IPO. The board opened the way from allowing profitable companies to issue IPO at a premium price to sell shares through the book building method.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The process of selling shares through the book building method was done by Sarvottam Cement. The cut-off price of the IPO sold to qualified institutional investors has been fixed at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">401</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">per shares. Now the company will sell shares to the general public at </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent less than this price.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'image' => '20231204022456_20210105042837_20190101042956_IPO.jpg',
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	(int) 9 => array(
		'Article' => array(
			'id' => '19634',
			'article_category_id' => '1',
			'title' => 'Rate of Return of Microfinance Companies Declining',
			'sub_title' => '',
			'summary' => 'December 4: The rate of return of microfinance companies has started to decline.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">December 4: The rate of return of microfinance companies has started to decline.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The slump in economic activities due to the effects of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> epidemic and Russia-Ukraine war among others have resulted in the decline in the profit of microfinance companies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Nepal Rastra Bank&#39;s decision to set the ceiling on interest rates, service charges, etc has also reduced the income of microfinance companies. In recent times, the return on equity (ROE) of microfinance companies has been decreasing due to the increase in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to Nepal Rastra Bank, the average ROE of microfinance institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">61.8</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2071/72. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">By March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. The rate of return on equity decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076/77</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, but then it increased. However, last year, the return of investment decreased due to the decrease in economic activity and the rise in bad loans.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The committee formed to study the problems of microfinance companies has also pointed out that investors are attracted towards microfinance due to high profits but the rate of return has been decreasing of late. According to the committee, the return on equity of commercial banks remained at an average of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">10.30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent from </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2072</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2080</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, while that of microfinance was above </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">30</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. Investors were more enthusiastic about microfinance due to this return.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The return on equity of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> institutions turned negative as of March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, indicating that the financial condition of the microfinance institutions has been deteriorating, the committee mentioned in the report.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Microfinance companies were established to provide financial services to the underprivileged groups who are out the reach of banks and financial institutions. With the increase in complaints of high interest rates from these institutions, the central bank has started fixing ceiling on interest rates since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2076. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Initially, microfinance companies were not allowed to charge more than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent but that was lowered to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent since </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has also set a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent on the service fee charged by them.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The microfinance operators are demanding a system under which they can determine the interest rate by adding a certain percentage premium to the base rate. The study committee has also recommended to implement the base rate as in case of banks and financial institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The number of microfinance institutions that have obtained permission from the NRB reached the peak in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2075</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> when there were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">91</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> such institutions</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">With the central bank&#39;s emphasis on merger and acquisition, the number of microfinance institutions fell to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">63</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> in </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From the year </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2070/71</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2078/79</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, the non-performing loan of microfinance was less than </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent of the total loan, but after March </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">, it reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.43</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The study committee has suggested that the microfinance companies cannot be sustainable if the rate of return is weak. It has suggested setting a limit of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">15 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent on dividend distribution and removing the limit on the interest rate and applying the spread rate.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19633',
			'article_category_id' => '1',
			'title' => 'Snowfall in Humla, Mustang   ',
			'sub_title' => '',
			'summary' => 'December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall.     ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Snowfall has been taking place in Humla district from this morning. Normal life of the district has been affected due to increasing cold following the snowfall. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A health worker at Halji health post located at Namkha rural municipality-6, Lokesh Bohara, said that snowfall has been taking place at the lower belt along with Simkot and snow up to around one feet has piled up at the northern areas of the district. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">People are facing problem to commute due to the snowfall, he shared.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Air service has also been affected due to the snowfall and passengers heading out of the district have been stranded in Simkot. Simkot has witnessed up to four inches of snow.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the other hand, farmers are elated with snowfall as they hope it would be good for different types of crops&mdash;wheat, barley and others.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<strong><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Mustang sees season&#39;s first snowfall&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Snowfall took place in Mustang for first time this season. The snowfall started since Monday morning. It is snowing in all areas including the district headquarters, Jomsom, said Ram Prasad Adhikari, the Assistant Chief District Officer.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, although it is raining since the morning, offices are open and the means of transport are also operating.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although life has been affected due to cold, the farmers are elated with the snowfall. The crops cultivated by farmers had started to wilt away due to drought.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The crops and vegetables are going to prosper due to the precipitation this season. Although the sky used to be cloudy, there was no rain before this. It&#39;s good that it snowed today,&quot; he said. -- RSS</span></span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '19632',
			'article_category_id' => '1',
			'title' => 'Gold Price Hits New Record         ',
			'sub_title' => '',
			'summary' => 'December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The price of gold has reached an all-time high record and is being traded at Rs 121,600 per tola (11.6 grams) in the domestic market on Monday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has increased by Rs 800 per tola on Monday as compared to Sunday. It was traded at Rs 120,800 on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, price of worked gold has been determined at Rs 121,000 per tola on Monday against Rs 120,200 on Sunday. Silver is being traded at Rs 1,545 per tola on Monday. -- RSS</span></span></span></p>
',
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			'article_date' => '2023-12-04 13:18:05',
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	(int) 12 => array(
		'Article' => array(
			'id' => '19631',
			'article_category_id' => '1',
			'title' => 'Aviation Refueling Centre Established at Simara Airport',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: Nepal Oil Corporation has established an aviation refueling centre at Simara Airport in Bara district. Minister for Industry, Commerce and Supplies, Ramesh Rijal, inaugurated the centre on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Simara Airport, the second oldest airport after the Kathmandu-based Tribhuvan International Airport, did not have refueling facility until now.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Rijal, on the occasion, said that the NOC had been providing the LPG gas cylinders to the consumers at a cheap price despite incurring loss.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, NOC Spokesperson Manoj Thakur said the newly inaugurated centre would facilitate internal flights.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The operation of the centre has ended the situation of diverting flights towards Bhairahawa or Biratnagar in case of bad weather or pressure of air traffic in Kathmandu, he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The flight time from Kathmandu to Simara is 15 minutes in average.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The refueling centre is expected to benefit both the aviation industry and air travelers by strengthening the connectivity and accessibility of air travel.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It is the first refueling centre established in this fiscal year. More such centres would be established in the coming days, according to the state-owned oil monopoly.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Plans are afoot to establish such centres at Bharatpur Airport and Jumla Airport within this fiscal year, informed Umesh Prasad Thani, executive director of the NOC.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">At present, around 900 to 1,000 passengers are availing services from the Simara Airport operating some 9 flights to and from it on a daily basis. -- RSS</span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '19630',
			'article_category_id' => '1',
			'title' => 'Price of Large Tomatoes Imported from India Increases by 76 Percent',
			'sub_title' => '',
			'summary' => 'December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">December 4: The price of large tomatoes imported from India has increased by 76 percent within a period of one month.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The Kalimati Fruits and Vegetables Market Development Committee confirmed that the price of Indian tomatoes has increased by 76.74 percent in one month. According to the committee, last month Indian tomatoes were sold at Rs 53 per kg, which has increased to Rs 95 per kg now.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">Traders say that the demand for this large tomatoes, which is used as a salad in banquets during feasts, has also increased with the onset of winter. They say that there is a lot of demand for such tomatoes during weddings and therefore the price has increased.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Nirmala UI&quot;,&quot;sans-serif&quot;">The price of big tomatoes produced in Nepal has also increased by 15 percent in a month. Last month, locally-produced big tomatoes were sold at Rs 65 per kg, but has increased to Rs 75 per kg at present. Meanwhile, the price of small local tomatoes has decreased by 59 percent and small tomatoes produced through tunnel farming has dropped by 42 percent.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '19629',
			'article_category_id' => '1',
			'title' => 'ADB to Extend Support for Climate Resilience in Hindu Kush Himalayas   ',
			'sub_title' => '',
			'summary' => 'December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">December 4: The Asian Development Bank (ADB) has launched a scheme to help assess and manage climate and disaster risks in the Hindu Kush Himalaya region.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, the ADB said it would undertake deep analysis of multi-hazard risks which include landslides, earthquakes, and floods&mdash;including glacier lake outbursts&mdash;and vulnerabilities in Bhutan and Nepal.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;This will help to strengthen the two governments&rsquo; capacities to conduct risk assessments in priority river basins. These assessments will be used to develop early warning systems and risk management options for future infrastructure development,&quot; the statement reads, adding that the Hindu Kush Himalayas &ndash; home to the largest ice reserves outside of the polar regions &ndash; feed 10 major rivers which sustain the livelihoods of 240 million people in the mountains and more than 1.6 billion people downstream.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The region is warming faster than the global average and if global temperature rise hits 3&deg;C, 75% of glaciers in Bhutan and Nepal could melt by the end of this century. That would place unprecedented stress on access to water, threaten food and energy security, and result in significant biodiversity loss.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;The roof of the world is melting,&rdquo; said ADB President Masatsugu Asakawa, &ldquo;The Hindu Kush Himalaya region is critical to the well-being and economic security of more than a billion people across our region. This initiative will help equip Bhutan and Nepal with essential information and enable them to invest in effective climate adaptation&mdash;which is now critical to managing climate risk.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, from 1985 to 2014, economic losses resulting from disasters in the Hindu Kush Himalayas region totaled $45 billion, much higher than those of any other mountain region. Since then, the increasing frequency and intensity of disaster events have pushed up economic losses and the number of people killed or displaced by such events.&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">ADB&rsquo;s assistance will help the governments, private sector, and local communities to understand the risks they face so they can decide on disaster risk reduction and adaptation measures, as well as risk transfer solutions including insurance. The technical assistance will set the stage for advancing knowledge across the Hindu Kush Himalaya region on climate resilient investment planning, development, and risk management, added the statement. &nbsp;-- RSS</span></span></span></p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00