The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media…
The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media…
November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of…
November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY)…
November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be…
November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs 5.3 million on 88 listed companies that did not submit financial statements within the stipulated time.…
November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate…
November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December…
November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal.…
The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass…
November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been…
November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per…
November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on…
November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security…
November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel…
November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to…
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The government officially decided to ban the use of TikTok through the Cabinet meeting on November 13, citing its 'negative impact' on social harmony. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19322', 'image' => '20231129033155_collage (11).jpg', 'article_date' => '2023-11-29 15:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19593', 'article_category_id' => '1', 'title' => 'Kathmandu Police Requests People to be Cautious about Online Payment Frauds ', 'sub_title' => '', 'summary' => 'November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such fraudsters have robbed general public of thousands of rupees in the name of online delivery of goods, said the police. The general people should be cautious and not make online payments without the confirmation of the delivery of goods they order, said Deputy Inspector General of Police Kuber Kadayat, the police spokesperson. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lately, there has been a rise in complaints relating to frauds by advertising goods on social media and luring customers to make advance payments and blocking customers' accounts without delivery. Therefore, people should go ahead with online transaction only after checking whether or not the relevant page or account is official," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The police have also urged the people in general to report such frauds to the police at the Kathmandu Valley Crime Division, Minbhavan or the district police office. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19321', 'image' => '20231129023756_Online-Payment-Fraud-Prevention-1.jpg', 'article_date' => '2023-11-29 14:37:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19592', 'article_category_id' => '1', 'title' => '10 Commercial Banks Announce Dividends with Preference on Cash Dividends over Bonus Shares', 'sub_title' => '', 'summary' => 'November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia Bank, Everest Bank, Standard Chartered Bank, Sanima Bank, Machhapuchhre Bank, Nabil Bank, Nepal SBI Bank, Global IME Bank, Citizens Bank and Siddharth Bank have declared dividends from the accumulated profits of the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Compared to last year, some banks have emphasized on cash dividends rather than bonus shares this year. Nabil Bank distributed 18.5 percent bonus shares and 11.5 percent cash dividend last year and proposed to give only 11 percent cash dividend this year. Siddharth Bank is giving 4.21% cash dividend, Citizens Bank International 5.79% and Standard Chartered Bank is giving 19% cash dividend. Similarly, Global IME Bank proposed to distribute 1 percent bonus shares and 8 percent cash dividend. Nepal SBI Bank announced to distribute 6.80 percent cash dividend and 3.75 percent bonus shares to the shareholders. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Six out of 10 commercial banks that declared dividends have already received approval from the annual general meeting. NIC Asia Bank, Everest Bank, Sanima Bank, Machhapuchhre Bank, Citizens Bank and Siddharth Bank have passed the proposal from the AGM. These companies have already released the dividends to the shareholders bank accounts. Now, 9 commercial banks listed in the secondary market of securities are yet to declare dividends.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors are divided whether listed companies should give cash dividends or bonus shares. Some people think cash dividend is fair while others think bonus share is better. Advocate Jyoti Dahal, an expert in the securities market, says that bonus share will not give anything qualitative except to increase the paid-up capital of the company while it reduces the net worth and reserves and gives a quantitative increase in the share of the shareholders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The announcement of bonus shares will increase the price of the shares abnormally for a few days, the operational and resource utilization expenses will increase to maintain the income due to the capital, but there will be no return qualitatively,” said Dahal, adding, “The cash I invested is for dividends. It is the same when it comes to share price after bonus shares are given.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investor SP Chaulagain also says that looking at the international stock market, the market prefers cash dividends over bonus shares. However, he says that there is a trend of giving more priority to bonus shares in the Nepali stock market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In fact, cash dividends are good for the interests of investors and the long-term progress of the company. When the company gives cash dividend, the share price is not adjusted, investors get the dividend. And the net worth of the company remains good.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, listed companies in other countries emphasize on cash dividends rather than bonus shares. It is not considered good to distribute bonus shares there. By issuing bonus shares, the liability and paid-up capital of the company increases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that looking at the trend of the last few years, it seems that investors are making profits by short-term trading rather than from bonus shares. At various times, the regulatory bodies instructed the listed companies to increase the paid-up capital. As a result, companies are forced to raise capital through bonus shares and other means. For this reason, securities experts say that it is necessary to increase the reserve over the paid-up capital.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19320', 'image' => '20231129023610_Banks - Copy.jpg', 'article_date' => '2023-11-29 14:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19591', 'article_category_id' => '1', 'title' => 'Dairy Industries Halt Payment of Rs 5 Billion to Farmers', 'sub_title' => '', 'summary' => 'November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Executive Director of the National Dairy Development Board, Balak Chaudhary informed New Business Age that the farmers are yet to receive payments equal to Rs 5 billion from the state-owned Dairy Development Corporation (DDC) along with the private dairies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The DDC alone has to pay around Rs 2 billion while the dairies under the private sector Dairy Industry Association and Nepal Dairy Association are yet to pay the remaining due amount. Around 30 percent of the total milk in the domestic market is purchased by the DDC and the rest is bought by private dairies. Under normal conditions, about 7 million liters of milk is produced every day in Nepal out of which only 3.1 million liters reach the market daily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chaudhary said that the consumption of milk in the market has decreased due to the recession in the economy and therefore the dairy industries stopped the payment to the farmers stating that they have stocks of powdered milk and butter worth Rs 9.41 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data collected by the board, the DDC has powdered milk and butter worth Rs 400 million, Dairy Industry Association Rs 7.60 billion and Nepal Dairy Association Rs 1.41 billion. “It is not good to stop the payments that farmers are liable to receive. We are taking the initiative to release the payment to the farmers as soon as possible,” added Chaudhary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Chaudhary, milk production usually increases from mid-September to February. However, this year, production had increased since May. Lately, the increase in milk production has started ahead of the usual time due to the farmers’ preference in rearing advanced breeds of cattle and the initiative shown by the local and provincial governments in milk production, says Chaudhary. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Dairy Association Prahlad Dahal also admitted that the private dairies are yet to pay about Rs 3 billion to the farmers. He said that they could not make the payment since the powdered milk and butter were not sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">General Secretary of Central Milk Cooperative Federation Ram Prasad Acharya said that the private dairies have reduced the purchase of milk by about 15 percent due to the decrease in the consumption of milk in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Dairies sell milk and other dairy products to consumers in cash, but do not pay farmers on time. Farmers are in a critical condition as they haven't received payment for the last three months,” said Acharya adding, “It has become difficult to feed the cattle because the farmers are not getting money even after selling milk.”</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19319', 'image' => '20231129022419_1700193855.1667860642.w.jpg', 'article_date' => '2023-11-29 14:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19588', 'article_category_id' => '1', 'title' => 'SEBON Takes Action against 88 Listed Companies for Delay in Submitting Financial Statements', 'sub_title' => '', 'summary' => 'November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs 5.3 million on 88 listed companies that did not submit financial statements within the stipulated time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> listed companies that did not submit financial statements within the stipulated time. The board slapped a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board on Tuesday published the names of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies that faced action</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies that faced action include four development banks, three from the hotel and tourism sector, three from the investment group, one each from commercial and other sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance companies, two life insurance companies, five non-life insurance companies, four companies from the production and processing sector, two finance companies and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hydropower companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the companies listed in the secondary market of securities, majority of those facing action were from the hydropower sector. The board fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies from this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the board of directors of SEBON held on November </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">had decided to impose a cash fine on those companies that did not submit their financial statements. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the board Ramesh Kumar Hamal informed New Business Age that such a large number of listed companies were fined for the first time in the history of SEBON.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal says that any company that defies the rules will be subjected to action. “SEBON will ensure that the rules are followed strictly,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal informed that the board has adopted a zero tolerance policy towards companies that do not publish financial statements within the specified period. He was of the view that the general investors should be able to view the financial statements of listed companies on time. He further said that even those companies that submitted the financial statement one day later than the specified date were also fined.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since the financial statements to be submitted by listed companies are very important for the securities market, the board has taken strict action against those who did not submit such statements on time," said Hamal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board imposed the fines as per Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to subsection </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, if any person knowingly or maliciously fails to submit the financial statements, details, reports, notices, information or any other similar document in time as required by the Act or the rules or regulations made under the Act, the Board shall impose a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last July, the board had issued a warning to the companies that it will take legal action if they do not follow the regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON clarified that it took action against those companies that ignored the warning of the board and did not submit the financial statements on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies registered with the board need to submit their financial details as mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the SEBON within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> days of the end of the quarterly period and publish such report in a national daily newspaper. Such organizations have to submit the annual report according to Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the board within five months from the end of each fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, the listed companies must include the audited report’s summary with the main points of the compliance report in the annual report in accordance with Sub-section (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Institutional Governance Guidelines, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, if there is any event or transaction mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which may affect the market value of the listed securities, there is a provision to submit such information to the Securities Board of Nepal within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19316', 'image' => '20231129014228_Sebon-update.jpg', 'article_date' => '2023-11-29 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19587', 'article_category_id' => '1', 'title' => 'Climate Change Already Reducing Global GDP: Report ', 'sub_title' => '', 'summary' => 'November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The figures reflect both direct consequences of climate change -- such as disruptions to agriculture and manufacturing, and reduced productivity from high heat -- as well as spill-over impacts on global trade and investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising of the University of Delaware. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope that this information can clarify the challenges that many countries already face today and the support they urgently need to address them," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">When calculated without taking into account impacts borne by the average person, the global GDP loss was 1.8 percent of GDP -- or about $1.5 trillion dollars -- in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The difference between those two numbers reflects the uneven distribution of impacts, which concentrate in low-income countries and tropical regions that typically have more population and less GDP," the authors said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Least developed countries experienced higher population-weighted GDP loss of 8.3 percent, with Southeast Asia and Southern Africa particularly affected -- losing 14.1 percent and 11.2 percent of their GDP respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, some developed countries benefited. Thanks to warmer winters Europe saw a nearly five percent net gain in GDP last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But such gains are "poised to erode" as hotter summers offset milder winters, warns the report. At last year's COP27 talks in Egypt, nations agreed to set up a dedicated fund to help vulnerable countries cope with "loss and damage" from climate disasters and extreme weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While some details were recently agreed, the fund -- and in particular who contributes to it and how much -- will be a key point of negotiation at this year's COP28 talks in Dubai, which begin on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for non-market losses and impacts. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19315', 'image' => '20231129123152_gdp climate.jpg', 'article_date' => '2023-11-29 12:31:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19585', 'article_category_id' => '1', 'title' => 'KMC to Impose Complete Ban on Sale of Tobacco Products from December 13 ', 'sub_title' => '', 'summary' => 'November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC’s Health Department Chief Ram Prasad Poudel said that selling, storage and use of tobacco products packed in plastics shall be fully prohibited in all the 32 wards of the metropolis from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, all tobacco products such as cigarettes, beedi, tamakhu, sulfa, kakkad, raw tobacco packaged in plastics, chewing tobacco, gutkha, paan parag and others will be strictly banned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel said that the KMC Police will seize such products if found sold in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have launched a campaign to make Kathmandu a healthy city. We have decided to ban the storage, sale and use of tobacco-based products that are harmful for the people's health and the environment, coinciding with the 29th KMC Day," said the KMC Health Department Chief Poudel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said this provision is included in Clause 42 of the Public Health Act which the KMC issued in 2080 BS. The provision in the Act is being strictly implemented in a bid to reduce the adverse effects tobacco products is having on public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tobacco control is the first condition for improving the public health and environment in the city. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19314', 'image' => '20231129110553_tobacco.jpg', 'article_date' => '2023-11-29 11:05:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19586', 'article_category_id' => '1', 'title' => 'NCC urges Japanese Industrialists to Invest in Nepal ', 'sub_title' => '', 'summary' => 'November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. NCC President Rajendra Malla suggested a visiting delegation of the International Cooperation Organisation for Small and Medium Enterprises in Asia (ICOSEA) from Japan on Tuesday to make investment and partnership in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he urged the Japanese entrepreneurs to invest in the hydropower, tourism, industrial and electric sectors in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal and Japan have high-level economic and diplomatic relations. Nepal is the best destination for investment. I urge the Japanese industrialists and businesspersons to invest in the hydropower, tourism, industry, among other sectors, in Nepal," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ICOSEA president Kurose Nabuhiro had inquired about the prospective sectors for investment in Nepal. He shared that the small and medium enterprises were the hardest-hit sectors after the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ICOSEA president expressed his commitment to move ahead partnering with NCC for joint investment in the potential sectors for investment, including hydroelectricity, tourism and others, in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19313', 'image' => '20231129113021_Flag-Pins-Nepal-Japan_600x600.jpg', 'article_date' => '2023-11-29 11:27:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ten Nepali students also lost their lives in the attack led by Hamas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19594', 'article_category_id' => '1', 'title' => 'NTA Seeks ISP Replies on TikTok Ban', 'sub_title' => '', 'summary' => 'The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 29: The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a public notice today, the NTA has sought the submissions of replies within the next 24 hours, warning that failure to do so may result in the cancellation of their licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to NTA deputy-director and information officer, Surya Prasad Lamichhane, earlier too, a notice was issued to all internet and mobile service providers, requesting information about the status of the implementation of the government's decision to prohibit TikTok.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> However, as of now, the NTA has not received any updates on the matter. The government officially decided to ban the use of TikTok through the Cabinet meeting on November 13, citing its 'negative impact' on social harmony. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19322', 'image' => '20231129033155_collage (11).jpg', 'article_date' => '2023-11-29 15:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19593', 'article_category_id' => '1', 'title' => 'Kathmandu Police Requests People to be Cautious about Online Payment Frauds ', 'sub_title' => '', 'summary' => 'November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such fraudsters have robbed general public of thousands of rupees in the name of online delivery of goods, said the police. The general people should be cautious and not make online payments without the confirmation of the delivery of goods they order, said Deputy Inspector General of Police Kuber Kadayat, the police spokesperson. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lately, there has been a rise in complaints relating to frauds by advertising goods on social media and luring customers to make advance payments and blocking customers' accounts without delivery. Therefore, people should go ahead with online transaction only after checking whether or not the relevant page or account is official," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The police have also urged the people in general to report such frauds to the police at the Kathmandu Valley Crime Division, Minbhavan or the district police office. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19321', 'image' => '20231129023756_Online-Payment-Fraud-Prevention-1.jpg', 'article_date' => '2023-11-29 14:37:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19592', 'article_category_id' => '1', 'title' => '10 Commercial Banks Announce Dividends with Preference on Cash Dividends over Bonus Shares', 'sub_title' => '', 'summary' => 'November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia Bank, Everest Bank, Standard Chartered Bank, Sanima Bank, Machhapuchhre Bank, Nabil Bank, Nepal SBI Bank, Global IME Bank, Citizens Bank and Siddharth Bank have declared dividends from the accumulated profits of the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Compared to last year, some banks have emphasized on cash dividends rather than bonus shares this year. Nabil Bank distributed 18.5 percent bonus shares and 11.5 percent cash dividend last year and proposed to give only 11 percent cash dividend this year. Siddharth Bank is giving 4.21% cash dividend, Citizens Bank International 5.79% and Standard Chartered Bank is giving 19% cash dividend. Similarly, Global IME Bank proposed to distribute 1 percent bonus shares and 8 percent cash dividend. Nepal SBI Bank announced to distribute 6.80 percent cash dividend and 3.75 percent bonus shares to the shareholders. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Six out of 10 commercial banks that declared dividends have already received approval from the annual general meeting. NIC Asia Bank, Everest Bank, Sanima Bank, Machhapuchhre Bank, Citizens Bank and Siddharth Bank have passed the proposal from the AGM. These companies have already released the dividends to the shareholders bank accounts. Now, 9 commercial banks listed in the secondary market of securities are yet to declare dividends.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors are divided whether listed companies should give cash dividends or bonus shares. Some people think cash dividend is fair while others think bonus share is better. Advocate Jyoti Dahal, an expert in the securities market, says that bonus share will not give anything qualitative except to increase the paid-up capital of the company while it reduces the net worth and reserves and gives a quantitative increase in the share of the shareholders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The announcement of bonus shares will increase the price of the shares abnormally for a few days, the operational and resource utilization expenses will increase to maintain the income due to the capital, but there will be no return qualitatively,” said Dahal, adding, “The cash I invested is for dividends. It is the same when it comes to share price after bonus shares are given.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investor SP Chaulagain also says that looking at the international stock market, the market prefers cash dividends over bonus shares. However, he says that there is a trend of giving more priority to bonus shares in the Nepali stock market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In fact, cash dividends are good for the interests of investors and the long-term progress of the company. When the company gives cash dividend, the share price is not adjusted, investors get the dividend. And the net worth of the company remains good.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, listed companies in other countries emphasize on cash dividends rather than bonus shares. It is not considered good to distribute bonus shares there. By issuing bonus shares, the liability and paid-up capital of the company increases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that looking at the trend of the last few years, it seems that investors are making profits by short-term trading rather than from bonus shares. At various times, the regulatory bodies instructed the listed companies to increase the paid-up capital. As a result, companies are forced to raise capital through bonus shares and other means. For this reason, securities experts say that it is necessary to increase the reserve over the paid-up capital.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19320', 'image' => '20231129023610_Banks - Copy.jpg', 'article_date' => '2023-11-29 14:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19591', 'article_category_id' => '1', 'title' => 'Dairy Industries Halt Payment of Rs 5 Billion to Farmers', 'sub_title' => '', 'summary' => 'November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Executive Director of the National Dairy Development Board, Balak Chaudhary informed New Business Age that the farmers are yet to receive payments equal to Rs 5 billion from the state-owned Dairy Development Corporation (DDC) along with the private dairies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The DDC alone has to pay around Rs 2 billion while the dairies under the private sector Dairy Industry Association and Nepal Dairy Association are yet to pay the remaining due amount. Around 30 percent of the total milk in the domestic market is purchased by the DDC and the rest is bought by private dairies. Under normal conditions, about 7 million liters of milk is produced every day in Nepal out of which only 3.1 million liters reach the market daily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chaudhary said that the consumption of milk in the market has decreased due to the recession in the economy and therefore the dairy industries stopped the payment to the farmers stating that they have stocks of powdered milk and butter worth Rs 9.41 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data collected by the board, the DDC has powdered milk and butter worth Rs 400 million, Dairy Industry Association Rs 7.60 billion and Nepal Dairy Association Rs 1.41 billion. “It is not good to stop the payments that farmers are liable to receive. We are taking the initiative to release the payment to the farmers as soon as possible,” added Chaudhary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Chaudhary, milk production usually increases from mid-September to February. However, this year, production had increased since May. Lately, the increase in milk production has started ahead of the usual time due to the farmers’ preference in rearing advanced breeds of cattle and the initiative shown by the local and provincial governments in milk production, says Chaudhary. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Dairy Association Prahlad Dahal also admitted that the private dairies are yet to pay about Rs 3 billion to the farmers. He said that they could not make the payment since the powdered milk and butter were not sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">General Secretary of Central Milk Cooperative Federation Ram Prasad Acharya said that the private dairies have reduced the purchase of milk by about 15 percent due to the decrease in the consumption of milk in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Dairies sell milk and other dairy products to consumers in cash, but do not pay farmers on time. Farmers are in a critical condition as they haven't received payment for the last three months,” said Acharya adding, “It has become difficult to feed the cattle because the farmers are not getting money even after selling milk.”</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19319', 'image' => '20231129022419_1700193855.1667860642.w.jpg', 'article_date' => '2023-11-29 14:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19588', 'article_category_id' => '1', 'title' => 'SEBON Takes Action against 88 Listed Companies for Delay in Submitting Financial Statements', 'sub_title' => '', 'summary' => 'November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs 5.3 million on 88 listed companies that did not submit financial statements within the stipulated time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> listed companies that did not submit financial statements within the stipulated time. The board slapped a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board on Tuesday published the names of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies that faced action</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies that faced action include four development banks, three from the hotel and tourism sector, three from the investment group, one each from commercial and other sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance companies, two life insurance companies, five non-life insurance companies, four companies from the production and processing sector, two finance companies and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hydropower companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the companies listed in the secondary market of securities, majority of those facing action were from the hydropower sector. The board fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies from this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the board of directors of SEBON held on November </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">had decided to impose a cash fine on those companies that did not submit their financial statements. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the board Ramesh Kumar Hamal informed New Business Age that such a large number of listed companies were fined for the first time in the history of SEBON.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal says that any company that defies the rules will be subjected to action. “SEBON will ensure that the rules are followed strictly,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal informed that the board has adopted a zero tolerance policy towards companies that do not publish financial statements within the specified period. He was of the view that the general investors should be able to view the financial statements of listed companies on time. He further said that even those companies that submitted the financial statement one day later than the specified date were also fined.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since the financial statements to be submitted by listed companies are very important for the securities market, the board has taken strict action against those who did not submit such statements on time," said Hamal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board imposed the fines as per Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to subsection </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, if any person knowingly or maliciously fails to submit the financial statements, details, reports, notices, information or any other similar document in time as required by the Act or the rules or regulations made under the Act, the Board shall impose a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last July, the board had issued a warning to the companies that it will take legal action if they do not follow the regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON clarified that it took action against those companies that ignored the warning of the board and did not submit the financial statements on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies registered with the board need to submit their financial details as mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the SEBON within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> days of the end of the quarterly period and publish such report in a national daily newspaper. Such organizations have to submit the annual report according to Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the board within five months from the end of each fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, the listed companies must include the audited report’s summary with the main points of the compliance report in the annual report in accordance with Sub-section (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Institutional Governance Guidelines, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, if there is any event or transaction mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which may affect the market value of the listed securities, there is a provision to submit such information to the Securities Board of Nepal within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19316', 'image' => '20231129014228_Sebon-update.jpg', 'article_date' => '2023-11-29 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19587', 'article_category_id' => '1', 'title' => 'Climate Change Already Reducing Global GDP: Report ', 'sub_title' => '', 'summary' => 'November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The figures reflect both direct consequences of climate change -- such as disruptions to agriculture and manufacturing, and reduced productivity from high heat -- as well as spill-over impacts on global trade and investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising of the University of Delaware. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope that this information can clarify the challenges that many countries already face today and the support they urgently need to address them," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">When calculated without taking into account impacts borne by the average person, the global GDP loss was 1.8 percent of GDP -- or about $1.5 trillion dollars -- in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The difference between those two numbers reflects the uneven distribution of impacts, which concentrate in low-income countries and tropical regions that typically have more population and less GDP," the authors said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Least developed countries experienced higher population-weighted GDP loss of 8.3 percent, with Southeast Asia and Southern Africa particularly affected -- losing 14.1 percent and 11.2 percent of their GDP respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, some developed countries benefited. Thanks to warmer winters Europe saw a nearly five percent net gain in GDP last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But such gains are "poised to erode" as hotter summers offset milder winters, warns the report. At last year's COP27 talks in Egypt, nations agreed to set up a dedicated fund to help vulnerable countries cope with "loss and damage" from climate disasters and extreme weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While some details were recently agreed, the fund -- and in particular who contributes to it and how much -- will be a key point of negotiation at this year's COP28 talks in Dubai, which begin on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for non-market losses and impacts. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19315', 'image' => '20231129123152_gdp climate.jpg', 'article_date' => '2023-11-29 12:31:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19585', 'article_category_id' => '1', 'title' => 'KMC to Impose Complete Ban on Sale of Tobacco Products from December 13 ', 'sub_title' => '', 'summary' => 'November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC’s Health Department Chief Ram Prasad Poudel said that selling, storage and use of tobacco products packed in plastics shall be fully prohibited in all the 32 wards of the metropolis from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, all tobacco products such as cigarettes, beedi, tamakhu, sulfa, kakkad, raw tobacco packaged in plastics, chewing tobacco, gutkha, paan parag and others will be strictly banned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel said that the KMC Police will seize such products if found sold in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have launched a campaign to make Kathmandu a healthy city. We have decided to ban the storage, sale and use of tobacco-based products that are harmful for the people's health and the environment, coinciding with the 29th KMC Day," said the KMC Health Department Chief Poudel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said this provision is included in Clause 42 of the Public Health Act which the KMC issued in 2080 BS. The provision in the Act is being strictly implemented in a bid to reduce the adverse effects tobacco products is having on public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tobacco control is the first condition for improving the public health and environment in the city. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19314', 'image' => '20231129110553_tobacco.jpg', 'article_date' => '2023-11-29 11:05:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19586', 'article_category_id' => '1', 'title' => 'NCC urges Japanese Industrialists to Invest in Nepal ', 'sub_title' => '', 'summary' => 'November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. NCC President Rajendra Malla suggested a visiting delegation of the International Cooperation Organisation for Small and Medium Enterprises in Asia (ICOSEA) from Japan on Tuesday to make investment and partnership in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he urged the Japanese entrepreneurs to invest in the hydropower, tourism, industrial and electric sectors in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal and Japan have high-level economic and diplomatic relations. Nepal is the best destination for investment. I urge the Japanese industrialists and businesspersons to invest in the hydropower, tourism, industry, among other sectors, in Nepal," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ICOSEA president Kurose Nabuhiro had inquired about the prospective sectors for investment in Nepal. He shared that the small and medium enterprises were the hardest-hit sectors after the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ICOSEA president expressed his commitment to move ahead partnering with NCC for joint investment in the potential sectors for investment, including hydroelectricity, tourism and others, in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19313', 'image' => '20231129113021_Flag-Pins-Nepal-Japan_600x600.jpg', 'article_date' => '2023-11-29 11:27:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ten Nepali students also lost their lives in the attack led by Hamas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19594', 'article_category_id' => '1', 'title' => 'NTA Seeks ISP Replies on TikTok Ban', 'sub_title' => '', 'summary' => 'The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 29: The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a public notice today, the NTA has sought the submissions of replies within the next 24 hours, warning that failure to do so may result in the cancellation of their licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to NTA deputy-director and information officer, Surya Prasad Lamichhane, earlier too, a notice was issued to all internet and mobile service providers, requesting information about the status of the implementation of the government's decision to prohibit TikTok.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> However, as of now, the NTA has not received any updates on the matter. The government officially decided to ban the use of TikTok through the Cabinet meeting on November 13, citing its 'negative impact' on social harmony. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19322', 'image' => '20231129033155_collage (11).jpg', 'article_date' => '2023-11-29 15:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19593', 'article_category_id' => '1', 'title' => 'Kathmandu Police Requests People to be Cautious about Online Payment Frauds ', 'sub_title' => '', 'summary' => 'November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such fraudsters have robbed general public of thousands of rupees in the name of online delivery of goods, said the police. The general people should be cautious and not make online payments without the confirmation of the delivery of goods they order, said Deputy Inspector General of Police Kuber Kadayat, the police spokesperson. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lately, there has been a rise in complaints relating to frauds by advertising goods on social media and luring customers to make advance payments and blocking customers' accounts without delivery. Therefore, people should go ahead with online transaction only after checking whether or not the relevant page or account is official," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The police have also urged the people in general to report such frauds to the police at the Kathmandu Valley Crime Division, Minbhavan or the district police office. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19321', 'image' => '20231129023756_Online-Payment-Fraud-Prevention-1.jpg', 'article_date' => '2023-11-29 14:37:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19592', 'article_category_id' => '1', 'title' => '10 Commercial Banks Announce Dividends with Preference on Cash Dividends over Bonus Shares', 'sub_title' => '', 'summary' => 'November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia Bank, Everest Bank, Standard Chartered Bank, Sanima Bank, Machhapuchhre Bank, Nabil Bank, Nepal SBI Bank, Global IME Bank, Citizens Bank and Siddharth Bank have declared dividends from the accumulated profits of the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Compared to last year, some banks have emphasized on cash dividends rather than bonus shares this year. Nabil Bank distributed 18.5 percent bonus shares and 11.5 percent cash dividend last year and proposed to give only 11 percent cash dividend this year. Siddharth Bank is giving 4.21% cash dividend, Citizens Bank International 5.79% and Standard Chartered Bank is giving 19% cash dividend. Similarly, Global IME Bank proposed to distribute 1 percent bonus shares and 8 percent cash dividend. Nepal SBI Bank announced to distribute 6.80 percent cash dividend and 3.75 percent bonus shares to the shareholders. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Six out of 10 commercial banks that declared dividends have already received approval from the annual general meeting. NIC Asia Bank, Everest Bank, Sanima Bank, Machhapuchhre Bank, Citizens Bank and Siddharth Bank have passed the proposal from the AGM. These companies have already released the dividends to the shareholders bank accounts. Now, 9 commercial banks listed in the secondary market of securities are yet to declare dividends.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors are divided whether listed companies should give cash dividends or bonus shares. Some people think cash dividend is fair while others think bonus share is better. Advocate Jyoti Dahal, an expert in the securities market, says that bonus share will not give anything qualitative except to increase the paid-up capital of the company while it reduces the net worth and reserves and gives a quantitative increase in the share of the shareholders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The announcement of bonus shares will increase the price of the shares abnormally for a few days, the operational and resource utilization expenses will increase to maintain the income due to the capital, but there will be no return qualitatively,” said Dahal, adding, “The cash I invested is for dividends. It is the same when it comes to share price after bonus shares are given.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investor SP Chaulagain also says that looking at the international stock market, the market prefers cash dividends over bonus shares. However, he says that there is a trend of giving more priority to bonus shares in the Nepali stock market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In fact, cash dividends are good for the interests of investors and the long-term progress of the company. When the company gives cash dividend, the share price is not adjusted, investors get the dividend. And the net worth of the company remains good.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, listed companies in other countries emphasize on cash dividends rather than bonus shares. It is not considered good to distribute bonus shares there. By issuing bonus shares, the liability and paid-up capital of the company increases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that looking at the trend of the last few years, it seems that investors are making profits by short-term trading rather than from bonus shares. At various times, the regulatory bodies instructed the listed companies to increase the paid-up capital. As a result, companies are forced to raise capital through bonus shares and other means. For this reason, securities experts say that it is necessary to increase the reserve over the paid-up capital.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19320', 'image' => '20231129023610_Banks - Copy.jpg', 'article_date' => '2023-11-29 14:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19591', 'article_category_id' => '1', 'title' => 'Dairy Industries Halt Payment of Rs 5 Billion to Farmers', 'sub_title' => '', 'summary' => 'November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Executive Director of the National Dairy Development Board, Balak Chaudhary informed New Business Age that the farmers are yet to receive payments equal to Rs 5 billion from the state-owned Dairy Development Corporation (DDC) along with the private dairies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The DDC alone has to pay around Rs 2 billion while the dairies under the private sector Dairy Industry Association and Nepal Dairy Association are yet to pay the remaining due amount. Around 30 percent of the total milk in the domestic market is purchased by the DDC and the rest is bought by private dairies. Under normal conditions, about 7 million liters of milk is produced every day in Nepal out of which only 3.1 million liters reach the market daily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chaudhary said that the consumption of milk in the market has decreased due to the recession in the economy and therefore the dairy industries stopped the payment to the farmers stating that they have stocks of powdered milk and butter worth Rs 9.41 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data collected by the board, the DDC has powdered milk and butter worth Rs 400 million, Dairy Industry Association Rs 7.60 billion and Nepal Dairy Association Rs 1.41 billion. “It is not good to stop the payments that farmers are liable to receive. We are taking the initiative to release the payment to the farmers as soon as possible,” added Chaudhary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Chaudhary, milk production usually increases from mid-September to February. However, this year, production had increased since May. Lately, the increase in milk production has started ahead of the usual time due to the farmers’ preference in rearing advanced breeds of cattle and the initiative shown by the local and provincial governments in milk production, says Chaudhary. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Dairy Association Prahlad Dahal also admitted that the private dairies are yet to pay about Rs 3 billion to the farmers. He said that they could not make the payment since the powdered milk and butter were not sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">General Secretary of Central Milk Cooperative Federation Ram Prasad Acharya said that the private dairies have reduced the purchase of milk by about 15 percent due to the decrease in the consumption of milk in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Dairies sell milk and other dairy products to consumers in cash, but do not pay farmers on time. Farmers are in a critical condition as they haven't received payment for the last three months,” said Acharya adding, “It has become difficult to feed the cattle because the farmers are not getting money even after selling milk.”</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19319', 'image' => '20231129022419_1700193855.1667860642.w.jpg', 'article_date' => '2023-11-29 14:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19588', 'article_category_id' => '1', 'title' => 'SEBON Takes Action against 88 Listed Companies for Delay in Submitting Financial Statements', 'sub_title' => '', 'summary' => 'November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs 5.3 million on 88 listed companies that did not submit financial statements within the stipulated time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> listed companies that did not submit financial statements within the stipulated time. The board slapped a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board on Tuesday published the names of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies that faced action</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies that faced action include four development banks, three from the hotel and tourism sector, three from the investment group, one each from commercial and other sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance companies, two life insurance companies, five non-life insurance companies, four companies from the production and processing sector, two finance companies and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hydropower companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the companies listed in the secondary market of securities, majority of those facing action were from the hydropower sector. The board fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies from this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the board of directors of SEBON held on November </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">had decided to impose a cash fine on those companies that did not submit their financial statements. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the board Ramesh Kumar Hamal informed New Business Age that such a large number of listed companies were fined for the first time in the history of SEBON.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal says that any company that defies the rules will be subjected to action. “SEBON will ensure that the rules are followed strictly,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal informed that the board has adopted a zero tolerance policy towards companies that do not publish financial statements within the specified period. He was of the view that the general investors should be able to view the financial statements of listed companies on time. He further said that even those companies that submitted the financial statement one day later than the specified date were also fined.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since the financial statements to be submitted by listed companies are very important for the securities market, the board has taken strict action against those who did not submit such statements on time," said Hamal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board imposed the fines as per Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to subsection </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, if any person knowingly or maliciously fails to submit the financial statements, details, reports, notices, information or any other similar document in time as required by the Act or the rules or regulations made under the Act, the Board shall impose a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last July, the board had issued a warning to the companies that it will take legal action if they do not follow the regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON clarified that it took action against those companies that ignored the warning of the board and did not submit the financial statements on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies registered with the board need to submit their financial details as mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the SEBON within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> days of the end of the quarterly period and publish such report in a national daily newspaper. Such organizations have to submit the annual report according to Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the board within five months from the end of each fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, the listed companies must include the audited report’s summary with the main points of the compliance report in the annual report in accordance with Sub-section (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Institutional Governance Guidelines, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, if there is any event or transaction mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which may affect the market value of the listed securities, there is a provision to submit such information to the Securities Board of Nepal within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19316', 'image' => '20231129014228_Sebon-update.jpg', 'article_date' => '2023-11-29 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19587', 'article_category_id' => '1', 'title' => 'Climate Change Already Reducing Global GDP: Report ', 'sub_title' => '', 'summary' => 'November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The figures reflect both direct consequences of climate change -- such as disruptions to agriculture and manufacturing, and reduced productivity from high heat -- as well as spill-over impacts on global trade and investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising of the University of Delaware. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope that this information can clarify the challenges that many countries already face today and the support they urgently need to address them," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">When calculated without taking into account impacts borne by the average person, the global GDP loss was 1.8 percent of GDP -- or about $1.5 trillion dollars -- in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The difference between those two numbers reflects the uneven distribution of impacts, which concentrate in low-income countries and tropical regions that typically have more population and less GDP," the authors said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Least developed countries experienced higher population-weighted GDP loss of 8.3 percent, with Southeast Asia and Southern Africa particularly affected -- losing 14.1 percent and 11.2 percent of their GDP respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, some developed countries benefited. Thanks to warmer winters Europe saw a nearly five percent net gain in GDP last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But such gains are "poised to erode" as hotter summers offset milder winters, warns the report. At last year's COP27 talks in Egypt, nations agreed to set up a dedicated fund to help vulnerable countries cope with "loss and damage" from climate disasters and extreme weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While some details were recently agreed, the fund -- and in particular who contributes to it and how much -- will be a key point of negotiation at this year's COP28 talks in Dubai, which begin on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for non-market losses and impacts. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19315', 'image' => '20231129123152_gdp climate.jpg', 'article_date' => '2023-11-29 12:31:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19585', 'article_category_id' => '1', 'title' => 'KMC to Impose Complete Ban on Sale of Tobacco Products from December 13 ', 'sub_title' => '', 'summary' => 'November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC’s Health Department Chief Ram Prasad Poudel said that selling, storage and use of tobacco products packed in plastics shall be fully prohibited in all the 32 wards of the metropolis from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, all tobacco products such as cigarettes, beedi, tamakhu, sulfa, kakkad, raw tobacco packaged in plastics, chewing tobacco, gutkha, paan parag and others will be strictly banned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel said that the KMC Police will seize such products if found sold in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have launched a campaign to make Kathmandu a healthy city. We have decided to ban the storage, sale and use of tobacco-based products that are harmful for the people's health and the environment, coinciding with the 29th KMC Day," said the KMC Health Department Chief Poudel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said this provision is included in Clause 42 of the Public Health Act which the KMC issued in 2080 BS. The provision in the Act is being strictly implemented in a bid to reduce the adverse effects tobacco products is having on public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tobacco control is the first condition for improving the public health and environment in the city. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19314', 'image' => '20231129110553_tobacco.jpg', 'article_date' => '2023-11-29 11:05:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19586', 'article_category_id' => '1', 'title' => 'NCC urges Japanese Industrialists to Invest in Nepal ', 'sub_title' => '', 'summary' => 'November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. NCC President Rajendra Malla suggested a visiting delegation of the International Cooperation Organisation for Small and Medium Enterprises in Asia (ICOSEA) from Japan on Tuesday to make investment and partnership in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he urged the Japanese entrepreneurs to invest in the hydropower, tourism, industrial and electric sectors in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal and Japan have high-level economic and diplomatic relations. Nepal is the best destination for investment. I urge the Japanese industrialists and businesspersons to invest in the hydropower, tourism, industry, among other sectors, in Nepal," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ICOSEA president Kurose Nabuhiro had inquired about the prospective sectors for investment in Nepal. He shared that the small and medium enterprises were the hardest-hit sectors after the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ICOSEA president expressed his commitment to move ahead partnering with NCC for joint investment in the potential sectors for investment, including hydroelectricity, tourism and others, in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19313', 'image' => '20231129113021_Flag-Pins-Nepal-Japan_600x600.jpg', 'article_date' => '2023-11-29 11:27:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ten Nepali students also lost their lives in the attack led by Hamas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19594', 'article_category_id' => '1', 'title' => 'NTA Seeks ISP Replies on TikTok Ban', 'sub_title' => '', 'summary' => 'The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 29: The Nepal Telecommunications Authority (NTA) has directed internet service providers to respond whether they have implemented the government decision to ban TikTok, the social media app. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a public notice today, the NTA has sought the submissions of replies within the next 24 hours, warning that failure to do so may result in the cancellation of their licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to NTA deputy-director and information officer, Surya Prasad Lamichhane, earlier too, a notice was issued to all internet and mobile service providers, requesting information about the status of the implementation of the government's decision to prohibit TikTok.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> However, as of now, the NTA has not received any updates on the matter. The government officially decided to ban the use of TikTok through the Cabinet meeting on November 13, citing its 'negative impact' on social harmony. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19322', 'image' => '20231129033155_collage (11).jpg', 'article_date' => '2023-11-29 15:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19593', 'article_category_id' => '1', 'title' => 'Kathmandu Police Requests People to be Cautious about Online Payment Frauds ', 'sub_title' => '', 'summary' => 'November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Police has requested the general public to be cautious about online payment as a group of fraudsters have been defrauding general people in the name of online delivery of goods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such fraudsters have robbed general public of thousands of rupees in the name of online delivery of goods, said the police. The general people should be cautious and not make online payments without the confirmation of the delivery of goods they order, said Deputy Inspector General of Police Kuber Kadayat, the police spokesperson. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lately, there has been a rise in complaints relating to frauds by advertising goods on social media and luring customers to make advance payments and blocking customers' accounts without delivery. Therefore, people should go ahead with online transaction only after checking whether or not the relevant page or account is official," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The police have also urged the people in general to report such frauds to the police at the Kathmandu Valley Crime Division, Minbhavan or the district police office. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19321', 'image' => '20231129023756_Online-Payment-Fraud-Prevention-1.jpg', 'article_date' => '2023-11-29 14:37:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19592', 'article_category_id' => '1', 'title' => '10 Commercial Banks Announce Dividends with Preference on Cash Dividends over Bonus Shares', 'sub_title' => '', 'summary' => 'November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 29: Out of the 19 commercial banks listed in Nepal Stock Exchange Limited (NEPSE), 10 have announced to distribute dividends from their profits made in the last fiscal year (FY) 2079/80.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia Bank, Everest Bank, Standard Chartered Bank, Sanima Bank, Machhapuchhre Bank, Nabil Bank, Nepal SBI Bank, Global IME Bank, Citizens Bank and Siddharth Bank have declared dividends from the accumulated profits of the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Compared to last year, some banks have emphasized on cash dividends rather than bonus shares this year. Nabil Bank distributed 18.5 percent bonus shares and 11.5 percent cash dividend last year and proposed to give only 11 percent cash dividend this year. Siddharth Bank is giving 4.21% cash dividend, Citizens Bank International 5.79% and Standard Chartered Bank is giving 19% cash dividend. Similarly, Global IME Bank proposed to distribute 1 percent bonus shares and 8 percent cash dividend. Nepal SBI Bank announced to distribute 6.80 percent cash dividend and 3.75 percent bonus shares to the shareholders. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Six out of 10 commercial banks that declared dividends have already received approval from the annual general meeting. NIC Asia Bank, Everest Bank, Sanima Bank, Machhapuchhre Bank, Citizens Bank and Siddharth Bank have passed the proposal from the AGM. These companies have already released the dividends to the shareholders bank accounts. Now, 9 commercial banks listed in the secondary market of securities are yet to declare dividends.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors are divided whether listed companies should give cash dividends or bonus shares. Some people think cash dividend is fair while others think bonus share is better. Advocate Jyoti Dahal, an expert in the securities market, says that bonus share will not give anything qualitative except to increase the paid-up capital of the company while it reduces the net worth and reserves and gives a quantitative increase in the share of the shareholders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The announcement of bonus shares will increase the price of the shares abnormally for a few days, the operational and resource utilization expenses will increase to maintain the income due to the capital, but there will be no return qualitatively,” said Dahal, adding, “The cash I invested is for dividends. It is the same when it comes to share price after bonus shares are given.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investor SP Chaulagain also says that looking at the international stock market, the market prefers cash dividends over bonus shares. However, he says that there is a trend of giving more priority to bonus shares in the Nepali stock market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In fact, cash dividends are good for the interests of investors and the long-term progress of the company. When the company gives cash dividend, the share price is not adjusted, investors get the dividend. And the net worth of the company remains good.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, listed companies in other countries emphasize on cash dividends rather than bonus shares. It is not considered good to distribute bonus shares there. By issuing bonus shares, the liability and paid-up capital of the company increases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that looking at the trend of the last few years, it seems that investors are making profits by short-term trading rather than from bonus shares. At various times, the regulatory bodies instructed the listed companies to increase the paid-up capital. As a result, companies are forced to raise capital through bonus shares and other means. For this reason, securities experts say that it is necessary to increase the reserve over the paid-up capital.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19320', 'image' => '20231129023610_Banks - Copy.jpg', 'article_date' => '2023-11-29 14:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19591', 'article_category_id' => '1', 'title' => 'Dairy Industries Halt Payment of Rs 5 Billion to Farmers', 'sub_title' => '', 'summary' => 'November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Dairy industry have halted the payment of Rs 5 billion to milk producing farmers, reasoning that the powdered milk and butter worth around Rs 9.5 billion are yet to be sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Executive Director of the National Dairy Development Board, Balak Chaudhary informed New Business Age that the farmers are yet to receive payments equal to Rs 5 billion from the state-owned Dairy Development Corporation (DDC) along with the private dairies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The DDC alone has to pay around Rs 2 billion while the dairies under the private sector Dairy Industry Association and Nepal Dairy Association are yet to pay the remaining due amount. Around 30 percent of the total milk in the domestic market is purchased by the DDC and the rest is bought by private dairies. Under normal conditions, about 7 million liters of milk is produced every day in Nepal out of which only 3.1 million liters reach the market daily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chaudhary said that the consumption of milk in the market has decreased due to the recession in the economy and therefore the dairy industries stopped the payment to the farmers stating that they have stocks of powdered milk and butter worth Rs 9.41 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data collected by the board, the DDC has powdered milk and butter worth Rs 400 million, Dairy Industry Association Rs 7.60 billion and Nepal Dairy Association Rs 1.41 billion. “It is not good to stop the payments that farmers are liable to receive. We are taking the initiative to release the payment to the farmers as soon as possible,” added Chaudhary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Chaudhary, milk production usually increases from mid-September to February. However, this year, production had increased since May. Lately, the increase in milk production has started ahead of the usual time due to the farmers’ preference in rearing advanced breeds of cattle and the initiative shown by the local and provincial governments in milk production, says Chaudhary. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Dairy Association Prahlad Dahal also admitted that the private dairies are yet to pay about Rs 3 billion to the farmers. He said that they could not make the payment since the powdered milk and butter were not sold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">General Secretary of Central Milk Cooperative Federation Ram Prasad Acharya said that the private dairies have reduced the purchase of milk by about 15 percent due to the decrease in the consumption of milk in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Dairies sell milk and other dairy products to consumers in cash, but do not pay farmers on time. Farmers are in a critical condition as they haven't received payment for the last three months,” said Acharya adding, “It has become difficult to feed the cattle because the farmers are not getting money even after selling milk.”</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19319', 'image' => '20231129022419_1700193855.1667860642.w.jpg', 'article_date' => '2023-11-29 14:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19588', 'article_category_id' => '1', 'title' => 'SEBON Takes Action against 88 Listed Companies for Delay in Submitting Financial Statements', 'sub_title' => '', 'summary' => 'November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs 5.3 million on 88 listed companies that did not submit financial statements within the stipulated time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 29: Securities Board of Nepal (SEBON) has imposed a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> listed companies that did not submit financial statements within the stipulated time. The board slapped a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board on Tuesday published the names of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies that faced action</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies that faced action include four development banks, three from the hotel and tourism sector, three from the investment group, one each from commercial and other sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance companies, two life insurance companies, five non-life insurance companies, four companies from the production and processing sector, two finance companies and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hydropower companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the companies listed in the secondary market of securities, majority of those facing action were from the hydropower sector. The board fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies from this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the board of directors of SEBON held on November </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">had decided to impose a cash fine on those companies that did not submit their financial statements. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the board Ramesh Kumar Hamal informed New Business Age that such a large number of listed companies were fined for the first time in the history of SEBON.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal says that any company that defies the rules will be subjected to action. “SEBON will ensure that the rules are followed strictly,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hamal informed that the board has adopted a zero tolerance policy towards companies that do not publish financial statements within the specified period. He was of the view that the general investors should be able to view the financial statements of listed companies on time. He further said that even those companies that submitted the financial statement one day later than the specified date were also fined.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since the financial statements to be submitted by listed companies are very important for the securities market, the board has taken strict action against those who did not submit such statements on time," said Hamal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The board imposed the fines as per Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to subsection </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Act, if any person knowingly or maliciously fails to submit the financial statements, details, reports, notices, information or any other similar document in time as required by the Act or the rules or regulations made under the Act, the Board shall impose a fine of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last July, the board had issued a warning to the companies that it will take legal action if they do not follow the regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON clarified that it took action against those companies that ignored the warning of the board and did not submit the financial statements on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The companies registered with the board need to submit their financial details as mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the SEBON within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> days of the end of the quarterly period and publish such report in a national daily newspaper. Such organizations have to submit the annual report according to Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to the board within five months from the end of each fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, the listed companies must include the audited report’s summary with the main points of the compliance report in the annual report in accordance with Sub-section (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of Section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Institutional Governance Guidelines, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, if there is any event or transaction mentioned in Schedule </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">of the Securities Registration and Issuance Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2073</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, which may affect the market value of the listed securities, there is a provision to submit such information to the Securities Board of Nepal within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19316', 'image' => '20231129014228_Sebon-update.jpg', 'article_date' => '2023-11-29 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19587', 'article_category_id' => '1', 'title' => 'Climate Change Already Reducing Global GDP: Report ', 'sub_title' => '', 'summary' => 'November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The figures reflect both direct consequences of climate change -- such as disruptions to agriculture and manufacturing, and reduced productivity from high heat -- as well as spill-over impacts on global trade and investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising of the University of Delaware. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope that this information can clarify the challenges that many countries already face today and the support they urgently need to address them," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">When calculated without taking into account impacts borne by the average person, the global GDP loss was 1.8 percent of GDP -- or about $1.5 trillion dollars -- in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The difference between those two numbers reflects the uneven distribution of impacts, which concentrate in low-income countries and tropical regions that typically have more population and less GDP," the authors said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Least developed countries experienced higher population-weighted GDP loss of 8.3 percent, with Southeast Asia and Southern Africa particularly affected -- losing 14.1 percent and 11.2 percent of their GDP respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, some developed countries benefited. Thanks to warmer winters Europe saw a nearly five percent net gain in GDP last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But such gains are "poised to erode" as hotter summers offset milder winters, warns the report. At last year's COP27 talks in Egypt, nations agreed to set up a dedicated fund to help vulnerable countries cope with "loss and damage" from climate disasters and extreme weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While some details were recently agreed, the fund -- and in particular who contributes to it and how much -- will be a key point of negotiation at this year's COP28 talks in Dubai, which begin on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for non-market losses and impacts. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19315', 'image' => '20231129123152_gdp climate.jpg', 'article_date' => '2023-11-29 12:31:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19585', 'article_category_id' => '1', 'title' => 'KMC to Impose Complete Ban on Sale of Tobacco Products from December 13 ', 'sub_title' => '', 'summary' => 'November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Kathmandu Metropolitan City (KMC) has decided to completely ban the sale of tobacco products in all of its 32 wards from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC’s Health Department Chief Ram Prasad Poudel said that selling, storage and use of tobacco products packed in plastics shall be fully prohibited in all the 32 wards of the metropolis from December 13. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, all tobacco products such as cigarettes, beedi, tamakhu, sulfa, kakkad, raw tobacco packaged in plastics, chewing tobacco, gutkha, paan parag and others will be strictly banned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel said that the KMC Police will seize such products if found sold in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We have launched a campaign to make Kathmandu a healthy city. We have decided to ban the storage, sale and use of tobacco-based products that are harmful for the people's health and the environment, coinciding with the 29th KMC Day," said the KMC Health Department Chief Poudel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said this provision is included in Clause 42 of the Public Health Act which the KMC issued in 2080 BS. The provision in the Act is being strictly implemented in a bid to reduce the adverse effects tobacco products is having on public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tobacco control is the first condition for improving the public health and environment in the city. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19314', 'image' => '20231129110553_tobacco.jpg', 'article_date' => '2023-11-29 11:05:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19586', 'article_category_id' => '1', 'title' => 'NCC urges Japanese Industrialists to Invest in Nepal ', 'sub_title' => '', 'summary' => 'November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Nepal Chamber of Commerce (NCC) has urged Japanese industrialists and businessmen to invest in Nepal. NCC President Rajendra Malla suggested a visiting delegation of the International Cooperation Organisation for Small and Medium Enterprises in Asia (ICOSEA) from Japan on Tuesday to make investment and partnership in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he urged the Japanese entrepreneurs to invest in the hydropower, tourism, industrial and electric sectors in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal and Japan have high-level economic and diplomatic relations. Nepal is the best destination for investment. I urge the Japanese industrialists and businesspersons to invest in the hydropower, tourism, industry, among other sectors, in Nepal," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ICOSEA president Kurose Nabuhiro had inquired about the prospective sectors for investment in Nepal. He shared that the small and medium enterprises were the hardest-hit sectors after the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ICOSEA president expressed his commitment to move ahead partnering with NCC for joint investment in the potential sectors for investment, including hydroelectricity, tourism and others, in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-29', 'modified' => '2023-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '19313', 'image' => '20231129113021_Flag-Pins-Nepal-Japan_600x600.jpg', 'article_date' => '2023-11-29 11:27:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ten Nepali students also lost their lives in the attack led by Hamas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
