October 8: Korean Air has been allowed to continue its flights to and from…
October 8: Korean Air has been allowed to continue its flights to and from…
October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit.…
October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a…
October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social…
October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to…
October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market.…
October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and…
The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the…
October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this…
October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in…
October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou,…
October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate…
October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its…
Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain…
October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of…
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The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</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:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </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:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</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:"Nirmala UI","sans-serif"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</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"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </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"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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"">October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</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"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</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"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</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"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</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"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</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"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</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"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk 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"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </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""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </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""> months to </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""> months are classified as sub-standard loans, loans that are overdue for </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""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</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"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier of Nepal.</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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</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"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</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 committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</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"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</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 say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</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"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</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 August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</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 government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire told New Business Age.</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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," 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"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," 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"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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:"Nirmala UI","sans-serif"">October 8: Korean Air has been allowed to continue its flights to and from Nepal.</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:"Nirmala UI","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</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:"Nirmala UI","sans-serif"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</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:"Nirmala UI","sans-serif"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</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:"Nirmala UI","sans-serif"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</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:"Nirmala UI","sans-serif"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </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:"Nirmala UI","sans-serif"">The authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </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:"Nirmala UI","sans-serif"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</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:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </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:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</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:"Nirmala UI","sans-serif"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</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"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </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"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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"">October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</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"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</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"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</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"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</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"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</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"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</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"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk 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"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </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""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </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""> months to </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""> months are classified as sub-standard loans, loans that are overdue for </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""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</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"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier of Nepal.</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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</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"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</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 committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</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"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</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 say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</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"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</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 August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</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 government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire told New Business Age.</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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," 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"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," 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"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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:"Nirmala UI","sans-serif"">October 8: Korean Air has been allowed to continue its flights to and from Nepal.</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:"Nirmala UI","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</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:"Nirmala UI","sans-serif"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</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:"Nirmala UI","sans-serif"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</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:"Nirmala UI","sans-serif"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</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:"Nirmala UI","sans-serif"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </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:"Nirmala UI","sans-serif"">The authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </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:"Nirmala UI","sans-serif"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</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:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </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:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</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:"Nirmala UI","sans-serif"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</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"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </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"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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"">October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</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"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</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"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</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"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</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"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</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"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</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"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk 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"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </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""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </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""> months to </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""> months are classified as sub-standard loans, loans that are overdue for </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""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</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"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier of Nepal.</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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</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"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</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 committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</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"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</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 say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</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"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</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 August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</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 government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire told New Business Age.</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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," 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"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," 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"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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:"Nirmala UI","sans-serif"">October 8: Korean Air has been allowed to continue its flights to and from Nepal.</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:"Nirmala UI","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</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:"Nirmala UI","sans-serif"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</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:"Nirmala UI","sans-serif"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</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:"Nirmala UI","sans-serif"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</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:"Nirmala UI","sans-serif"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </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:"Nirmala UI","sans-serif"">The authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </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:"Nirmala UI","sans-serif"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</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:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </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:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</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:"Nirmala UI","sans-serif"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</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"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </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"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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"">October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</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"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</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"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</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"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</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"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</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"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</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"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk 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"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </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""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </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""> months to </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""> months are classified as sub-standard loans, loans that are overdue for </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""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</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"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier of Nepal.</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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</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"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</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 committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</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"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</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 say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</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"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</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 August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</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 government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire told New Business Age.</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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," 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"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," 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"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
