NEWS

IPO Issuance Droped by Rs 12 Billion Last Year

Jul 19, 2024 0 1 minutes 41 seconds to read

KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year.…

Birgunj Customs Office Misses Revenue Collection Target

Jul 19, 2024 0 1 minutes 19 seconds to read

The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign…

Prominent Female Entrepreneur Ambica Shrestha Passes Away

Jul 18, 2024 0 1 minutes 59 seconds to read

Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika's Hotel, has passed…

NEPSE Surges by 59.68 Points; Turnover Crosses Rs 15 Billion

Jul 18, 2024 0 1 minutes 13 seconds to read

The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week. This significant rise was largely driven by a substantial increase in the Banking…

Tripartite Agreement to Sell Electricity to Bangladesh on July 28

Jul 18, 2024 0 2 minutes 52 seconds to read

KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July…

IMF Report Highlights Post-Pandemic Credit Challenges and Fiscal Pressure in Nepal

Jul 18, 2024 0 3 minutes 55 seconds to read

KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal's credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector…

Monsoon-Induced Disaster Affects 163 Highways

Jul 18, 2024 0 1 minutes 3 seconds to read

KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36…

Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola

Jul 17, 2024 0 1 minutes 23 seconds to read

KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day.…

NEPSE Daily Turnover Hits Nearly Three-Year High

Jul 17, 2024 0 2 minutes 52 seconds to read

…

Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption

Jul 17, 2024 0 4 minutes 11 seconds to read

KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by…

IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill

Jul 17, 2024 0 2 minutes 26 seconds to read

KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be…

Nepali Embassies in Beijing and Muscat Promote Investment Opportunities

Jul 17, 2024 0 1 minutes 15 seconds to read

KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in…

Bankers Discuss Challenges of the Banking Sector with New Finance Minister

Jul 17, 2024 0 1 minutes 19 seconds to read

KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday.…

Formation of New Government Raises Hope for Economic Boom: FNCCI President

Jul 17, 2024 0 1 minutes 13 seconds to read

KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the…

Earthquake Jolts Mugu this Morning

Jul 17, 2024 0 39 seconds to read

KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM…

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NEPSE

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			'id' => '21585',
			'article_category_id' => '1',
			'title' => 'IPO Issuance Droped by Rs 12 Billion Last Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. This approval covered more than 404.5 million shares. However, this represents a significant decrease compared to the previous fiscal year, when the board had approved IPOs worth over Rs 22.37 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statistics reveal a drop of Rs 11.62 billion in IPO issuance permissions. The number of companies receiving approval also fell sharply, from 42 in the previous year to just 9 in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The approval process for IPOs was stalled for about six months, which contributed to the reduced number of approvals. During his tenure, SEBON Chairman Ramesh Kumar Hamal prioritized IPO approvals to increase the number of companies listed in the secondary market. However, his term ended on January 5, and the board has yet to appoint a new chairman.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From January 4 to June 28, the IPO approval process was halted. Currently, in the absence of a chairman, the board is operating under the leadership of a representative from the Ministry of Finance. Although the IPO issuance process resumed on June 28 with the approval of Reliance Spinning Mills, the company has been barred from issuing further approvals for the time being due to the controversy over its dues to the Nepal Electricity Authority.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '21584',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Office Misses Revenue Collection Target',
			'sub_title' => '',
			'summary' => 'The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 18 : The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The customs office had set a revenue target of Rs 245.88 billion for the last fiscal year but managed to collect only Rs 157.40 billion, according to Birgunj Customs Information Officer Raghulal Karna. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This amount is approximately 36% less than the target, with the office achieving only 64.16% of the set goal. However, this is an improvement compared to the previous fiscal year 2079/80, when the office collected 60% of its revenue target, amounting to Rs 157.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Chief Customs Administrator Dilaram Panthi noted that foreign trade has seen a comparative improvement recently. Despite this improvement in trade in recent months, there remains a lack of &#39;confidence&#39; in the market, he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Birgunj checkpoint primarily handles the import of vehicles, petroleum products, and industrial raw materials. </span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Export items include juice, refined oil, textiles, and yarn products. Customs reported a decline in both the import and export of these goods.</span></span></p>

<p>&nbsp;</p>
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			'id' => '21583',
			'article_category_id' => '1',
			'title' => 'Prominent Female Entrepreneur Ambica Shrestha Passes Away',
			'sub_title' => '',
			'summary' => 'Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika's Hotel, has passed away.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika&#39;s Hotel, has passed away. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 91-year-old Shrestha passed away this morning while undergoing treatment at Medicity Hospital in Lalitpur, according to Binayak Shah, President of Hotel Association Nepal (HAN).</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Expressing sorrow over the news of her passing, Shah stated that her death is an irreplaceable loss to Nepal&#39;s tourism sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;She played a significant role and made numerous contributions in introducing Nepali tourism and boutique/heritage hotels to the world,&quot; Shah said, &quot;Her demise is an irreplaceable loss to tourism sector.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ambica Shrestha was one of Nepal&#39;s successful female entrepreneurs. She was currently serving as the chairperson of Dwarika&#39;s Hotel. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Born on February 12, 1933, in Sikkim, India, Ambica studied at Loreto Convent School in Darjeeling. She completed her undergraduate studies in commerce at Patna University. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After marrying Dwarikadas Shrestha, a member of a prominent business family in Nepal, she moved to Kathmandu.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After the death of her husband, who was also the chairperson of Dwarika&#39;s Hotel, she assumed the role of chairperson.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a successful female entrepreneur, she received various national honors. She was also honored with the &#39;Lifetime Achievement in Business Leadership&#39; award at the sixth &#39;NewBiz Business Conclave and Awards-2019&#39;.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In recognition of her unparalleled contributions to the Nepali industry, Shrestha was presented with this honor.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She was the founding chairperson of Nepal&#39;s first boutique hotel, Dwarika&#39;s Hotel. Apart from this, she was involved with more than a dozen social organizations. </span></span></p>
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		'Article' => array(
			'id' => '21582',
			'article_category_id' => '1',
			'title' => 'NEPSE Surges by 59.68 Points; Turnover Crosses Rs 15 Billion',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week. This significant rise was largely driven by a substantial increase in the Banking Index.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This significant rise was largely driven by a substantial increase in the Banking Index.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, a total of 312 scrips were traded through 184,712 transactions on NEPSE. A total of 39,938,237 units of shares were exchanged, resulting in a turnover of Rs 15.54 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) led the turnover with transactions worth Rs 42 crore. Additionally, Nepal Investment Mega Bank Limited (NIMB), Nepal Finance Limited (NFS), Ankhu Khola Jalvidhyut Company Limited (AKJCL), Upakar Laghubitta Bittiya Sanstha Limited (ULBSL), and Three Star Hydropower Limited (TSHL) each gained 10%, hitting the positive circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Kumari Sabal Yojana (KSY) experienced the highest loss, dropping by 5.76%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regarding sector indices, all sectors closed in positive territory except for the Finance Index and Hydropower Index. The Banking Index saw the highest gain of 6.28%, while the Finance Index suffered a loss of 1.27%. </span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '21580',
			'article_category_id' => '1',
			'title' => 'Tripartite Agreement to Sell Electricity to Bangladesh on July 28',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal will be able to export electricity to a third country other than India for the first time after the agreement comes into force. Nepal has been exporting electricity in India&rsquo;s competitive market since 2021.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Spokesperson for the ministry, Nabin Raj Singh, told New Business Age, &ldquo;A tripartite agreement between the Nepal Electricity Authority (NEA), India&#39;s NTPC Vidyut Vyapar Nigam Limited (NVVN), and the Bangladesh Power Development Board (BPDB) is set to be signed on July 28.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh added, &ldquo;Since this is a historic moment, Energy Minister Deepak Khadka wrote a letter to the Indian and Bangladeshi energy ministers to participate in the agreement signing program.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The NEA had been waiting for the Bangladesh government&#39;s decision regarding electricity export from Nepal for a few months. Last week, BPDB wrote to NEA to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. The date of the tripartite signing was finalized based on coordination between the three sides.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the NEA, it will sell 40 megawatts of electricity to Bangladesh for six months of the rainy season (from June 15 to November 15 every year) for five years and will be paid in US dollars. The authority will receive 6.4 cents per unit by selling electricity to Bangladesh.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The ministry stated that 28,800 megawatt hours of electricity will be exported to Bangladesh per month. A total of 144,000 megawatt hours of electricity will be exported to Bangladesh in the next five months, earning Nepal Rs 1.23 billion.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Additionally, Singh mentioned that the bilateral high-level energy-related mechanism meeting between Nepal and Bangladesh is scheduled to be held on July 29 and 30 in Pokhara. The first day of the meeting will see joint secretary level joint working group meeting followed by secretary level joint steering committee meeting the next day.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh also noted that an agreement regarding the formation of a joint venture to build the Sunkoshi 3 hydropower project with a capacity of 683 megawatts may be signed at the bilateral mechanism meeting. He said, &ldquo;We have sent the draft of the memorandum to Bangladesh. If there is an agreement before the meeting, the contract will be signed. Otherwise, there will only be more discussion about it.&rdquo;</span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '21579',
			'article_category_id' => '1',
			'title' => 'IMF Report Highlights Post-Pandemic Credit Challenges and Fiscal Pressure in Nepal',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal's credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal&#39;s credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">A report prepared by the IMF following the Fourth Review of the Extended Credit Facility to Nepal states that the country experienced demand-driven credit growth before the COVID-19 pandemic, primarily fueling investment activities. This period saw robust economic expansion without significant inflation, supported by large remittance inflows and accommodative monetary policies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In stark contrast, the post-pandemic credit boom has been largely supply-driven, facilitated by broad-based financial regulation relaxations. This surge disproportionately favored households and non-tradable sectors, leading to excessive credit accumulation. The subsequent economic slowdown and deleveraging highlight the vulnerabilities of this approach, the IMF warned.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report also notes that revenue growth in FY2023/24 has remained subdued despite several tax measures introduced in the budget. By mid-May, tax revenue grew by only 9.1 percent year-on-year, broadly in line with the nominal GDP growth projection. The tax revenue-to-GDP ratio declined from the pre-pandemic average of 18.5 percent to 16.2 percent in FY2022/23, due to factors such as weaker imports, the transition to electric vehicles with lower import duties, increased informal trade, and restrictions on Indian exports.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In response to near-term fiscal pressures, the government has reduced expenditure. Despite lower-than-expected revenue collection, spending restraint through the mid-term budget review in January 2024 is expected to improve the primary balance by +0.7 percent of GDP in FY2023/24.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF report points out that Nepal&rsquo;s private sector credit has expanded significantly in recent years, driven by rapid credit growth and pandemic-related stimulus. The credit-to-GDP ratio now stands near 100 percent, suggesting financial deepening levels are excessive for Nepal&rsquo;s economic development stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyzing the credit-to-GDP gap reveals that recent credit expansion has been unprecedented. At its peak, the credit gap exceeded 10 percentage points (pp), far above historical norms. The subsequent correction has brought the gap down to around -5 pp, indicating a sharp reversal and raising concerns about future credit cycles.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report highlights increasing financial sector vulnerabilities as banks face mounting capital pressure. Following the post-pandemic credit boom, banks have adjusted lending practices, reclassifying loans and absorbing losses amid a challenging economic environment. Improvements in working capital loan guidelines in 2022 and asset classification regulation in 2023 have led to a healthy shift to term lending but also a reassessment of client relationships and an increase in gross non-performing loans (NPLs).</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB phased out forbearance on restructuring and rescheduling loans in mid-April, causing banks to face higher NPLs and retroactive taxation, which have hurt profitability, added the report. Although the banking system remains adequately provisioned with a coverage ratio of 70 percent, potential differentiation among individual institutions warrants close monitoring. A downturn in the real estate market has further complicated efforts by banks to sell seized collateral.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Historically, Nepal&rsquo;s business cycles led credit cycles, but this trend has reversed since the pandemic. Credit expansion now appears to drive economic activity, reversing the pre-pandemic relationship where economic output influenced credit growth, the IMF report further states</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF emphasizes the importance of understanding these credit dynamics to prevent future boom-bust cycles. It suggests that sustained regulatory adjustments by the Nepal Rastra Bank (NRB) can support sustainable, pro-growth credit allocation, and help stabilize the financial sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">By detecting early financial imbalances through measures like the credit-to-GDP gap, authorities can take proactive steps to mitigate risks and ensure financial stability. The IMF report underscores the need for continued vigilance and policy refinement to navigate the complexities of Nepal&rsquo;s evolving credit landscape.</span></span></p>

<p>&nbsp;</p>
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			'keywords' => 'IMF, report, Nepal, ECF, extended, credit, facility, pandemic, shift',
			'description' => '',
			'sortorder' => '21305',
			'image' => '20240718104814_20231006125525_20220426051733_imf.jpg',
			'article_date' => '2024-07-18 10:47:03',
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	(int) 6 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
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	(int) 7 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
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	(int) 8 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '21291',
			'image' => '20240717061338_20220725080819_960x0.jpg',
			'article_date' => '2024-07-17 18:12:34',
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	(int) 9 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '21289',
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	(int) 10 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20240717114645_IPPAN-Independent-Power-Producers-Association-Nepal.jpg',
			'article_date' => '2024-07-17 11:45:45',
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	(int) 11 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
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			'created' => '2024-07-17',
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			'sortorder' => '21286',
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			'article_date' => '2024-07-17 11:16:15',
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	(int) 12 => array(
		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21284',
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			'article_date' => '2024-07-17 09:59:42',
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		'Article' => array(
			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2024-07-17 09:39:19',
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	(int) 0 => array(
		'Article' => array(
			'id' => '21585',
			'article_category_id' => '1',
			'title' => 'IPO Issuance Droped by Rs 12 Billion Last Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. This approval covered more than 404.5 million shares. However, this represents a significant decrease compared to the previous fiscal year, when the board had approved IPOs worth over Rs 22.37 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statistics reveal a drop of Rs 11.62 billion in IPO issuance permissions. The number of companies receiving approval also fell sharply, from 42 in the previous year to just 9 in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The approval process for IPOs was stalled for about six months, which contributed to the reduced number of approvals. During his tenure, SEBON Chairman Ramesh Kumar Hamal prioritized IPO approvals to increase the number of companies listed in the secondary market. However, his term ended on January 5, and the board has yet to appoint a new chairman.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From January 4 to June 28, the IPO approval process was halted. Currently, in the absence of a chairman, the board is operating under the leadership of a representative from the Ministry of Finance. Although the IPO issuance process resumed on June 28 with the approval of Reliance Spinning Mills, the company has been barred from issuing further approvals for the time being due to the controversy over its dues to the Nepal Electricity Authority.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21311',
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			'id' => '21584',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Office Misses Revenue Collection Target',
			'sub_title' => '',
			'summary' => 'The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 18 : The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The customs office had set a revenue target of Rs 245.88 billion for the last fiscal year but managed to collect only Rs 157.40 billion, according to Birgunj Customs Information Officer Raghulal Karna. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This amount is approximately 36% less than the target, with the office achieving only 64.16% of the set goal. However, this is an improvement compared to the previous fiscal year 2079/80, when the office collected 60% of its revenue target, amounting to Rs 157.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Chief Customs Administrator Dilaram Panthi noted that foreign trade has seen a comparative improvement recently. Despite this improvement in trade in recent months, there remains a lack of &#39;confidence&#39; in the market, he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Birgunj checkpoint primarily handles the import of vehicles, petroleum products, and industrial raw materials. </span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Export items include juice, refined oil, textiles, and yarn products. Customs reported a decline in both the import and export of these goods.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-19',
			'modified' => '2024-07-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21310',
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			'article_date' => '2024-07-19 05:46:55',
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			'id' => '21583',
			'article_category_id' => '1',
			'title' => 'Prominent Female Entrepreneur Ambica Shrestha Passes Away',
			'sub_title' => '',
			'summary' => 'Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika's Hotel, has passed away.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika&#39;s Hotel, has passed away. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 91-year-old Shrestha passed away this morning while undergoing treatment at Medicity Hospital in Lalitpur, according to Binayak Shah, President of Hotel Association Nepal (HAN).</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Expressing sorrow over the news of her passing, Shah stated that her death is an irreplaceable loss to Nepal&#39;s tourism sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;She played a significant role and made numerous contributions in introducing Nepali tourism and boutique/heritage hotels to the world,&quot; Shah said, &quot;Her demise is an irreplaceable loss to tourism sector.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ambica Shrestha was one of Nepal&#39;s successful female entrepreneurs. She was currently serving as the chairperson of Dwarika&#39;s Hotel. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Born on February 12, 1933, in Sikkim, India, Ambica studied at Loreto Convent School in Darjeeling. She completed her undergraduate studies in commerce at Patna University. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After marrying Dwarikadas Shrestha, a member of a prominent business family in Nepal, she moved to Kathmandu.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After the death of her husband, who was also the chairperson of Dwarika&#39;s Hotel, she assumed the role of chairperson.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a successful female entrepreneur, she received various national honors. She was also honored with the &#39;Lifetime Achievement in Business Leadership&#39; award at the sixth &#39;NewBiz Business Conclave and Awards-2019&#39;.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In recognition of her unparalleled contributions to the Nepali industry, Shrestha was presented with this honor.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She was the founding chairperson of Nepal&#39;s first boutique hotel, Dwarika&#39;s Hotel. Apart from this, she was involved with more than a dozen social organizations. </span></span></p>
',
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			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21309',
			'image' => '20240718040335_collage (1).jpg',
			'article_date' => '2024-07-18 16:02:13',
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	(int) 3 => array(
		'Article' => array(
			'id' => '21582',
			'article_category_id' => '1',
			'title' => 'NEPSE Surges by 59.68 Points; Turnover Crosses Rs 15 Billion',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week. This significant rise was largely driven by a substantial increase in the Banking Index.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This significant rise was largely driven by a substantial increase in the Banking Index.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, a total of 312 scrips were traded through 184,712 transactions on NEPSE. A total of 39,938,237 units of shares were exchanged, resulting in a turnover of Rs 15.54 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) led the turnover with transactions worth Rs 42 crore. Additionally, Nepal Investment Mega Bank Limited (NIMB), Nepal Finance Limited (NFS), Ankhu Khola Jalvidhyut Company Limited (AKJCL), Upakar Laghubitta Bittiya Sanstha Limited (ULBSL), and Three Star Hydropower Limited (TSHL) each gained 10%, hitting the positive circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Kumari Sabal Yojana (KSY) experienced the highest loss, dropping by 5.76%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regarding sector indices, all sectors closed in positive territory except for the Finance Index and Hydropower Index. The Banking Index saw the highest gain of 6.28%, while the Finance Index suffered a loss of 1.27%. </span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21308',
			'image' => '20240718032803_collage.jpg',
			'article_date' => '2024-07-18 15:26:26',
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		'Article' => array(
			'id' => '21580',
			'article_category_id' => '1',
			'title' => 'Tripartite Agreement to Sell Electricity to Bangladesh on July 28',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal will be able to export electricity to a third country other than India for the first time after the agreement comes into force. Nepal has been exporting electricity in India&rsquo;s competitive market since 2021.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Spokesperson for the ministry, Nabin Raj Singh, told New Business Age, &ldquo;A tripartite agreement between the Nepal Electricity Authority (NEA), India&#39;s NTPC Vidyut Vyapar Nigam Limited (NVVN), and the Bangladesh Power Development Board (BPDB) is set to be signed on July 28.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh added, &ldquo;Since this is a historic moment, Energy Minister Deepak Khadka wrote a letter to the Indian and Bangladeshi energy ministers to participate in the agreement signing program.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The NEA had been waiting for the Bangladesh government&#39;s decision regarding electricity export from Nepal for a few months. Last week, BPDB wrote to NEA to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. The date of the tripartite signing was finalized based on coordination between the three sides.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the NEA, it will sell 40 megawatts of electricity to Bangladesh for six months of the rainy season (from June 15 to November 15 every year) for five years and will be paid in US dollars. The authority will receive 6.4 cents per unit by selling electricity to Bangladesh.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The ministry stated that 28,800 megawatt hours of electricity will be exported to Bangladesh per month. A total of 144,000 megawatt hours of electricity will be exported to Bangladesh in the next five months, earning Nepal Rs 1.23 billion.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Additionally, Singh mentioned that the bilateral high-level energy-related mechanism meeting between Nepal and Bangladesh is scheduled to be held on July 29 and 30 in Pokhara. The first day of the meeting will see joint secretary level joint working group meeting followed by secretary level joint steering committee meeting the next day.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh also noted that an agreement regarding the formation of a joint venture to build the Sunkoshi 3 hydropower project with a capacity of 683 megawatts may be signed at the bilateral mechanism meeting. He said, &ldquo;We have sent the draft of the memorandum to Bangladesh. If there is an agreement before the meeting, the contract will be signed. Otherwise, there will only be more discussion about it.&rdquo;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21579',
			'article_category_id' => '1',
			'title' => 'IMF Report Highlights Post-Pandemic Credit Challenges and Fiscal Pressure in Nepal',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal's credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal&#39;s credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">A report prepared by the IMF following the Fourth Review of the Extended Credit Facility to Nepal states that the country experienced demand-driven credit growth before the COVID-19 pandemic, primarily fueling investment activities. This period saw robust economic expansion without significant inflation, supported by large remittance inflows and accommodative monetary policies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In stark contrast, the post-pandemic credit boom has been largely supply-driven, facilitated by broad-based financial regulation relaxations. This surge disproportionately favored households and non-tradable sectors, leading to excessive credit accumulation. The subsequent economic slowdown and deleveraging highlight the vulnerabilities of this approach, the IMF warned.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report also notes that revenue growth in FY2023/24 has remained subdued despite several tax measures introduced in the budget. By mid-May, tax revenue grew by only 9.1 percent year-on-year, broadly in line with the nominal GDP growth projection. The tax revenue-to-GDP ratio declined from the pre-pandemic average of 18.5 percent to 16.2 percent in FY2022/23, due to factors such as weaker imports, the transition to electric vehicles with lower import duties, increased informal trade, and restrictions on Indian exports.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In response to near-term fiscal pressures, the government has reduced expenditure. Despite lower-than-expected revenue collection, spending restraint through the mid-term budget review in January 2024 is expected to improve the primary balance by +0.7 percent of GDP in FY2023/24.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF report points out that Nepal&rsquo;s private sector credit has expanded significantly in recent years, driven by rapid credit growth and pandemic-related stimulus. The credit-to-GDP ratio now stands near 100 percent, suggesting financial deepening levels are excessive for Nepal&rsquo;s economic development stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyzing the credit-to-GDP gap reveals that recent credit expansion has been unprecedented. At its peak, the credit gap exceeded 10 percentage points (pp), far above historical norms. The subsequent correction has brought the gap down to around -5 pp, indicating a sharp reversal and raising concerns about future credit cycles.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report highlights increasing financial sector vulnerabilities as banks face mounting capital pressure. Following the post-pandemic credit boom, banks have adjusted lending practices, reclassifying loans and absorbing losses amid a challenging economic environment. Improvements in working capital loan guidelines in 2022 and asset classification regulation in 2023 have led to a healthy shift to term lending but also a reassessment of client relationships and an increase in gross non-performing loans (NPLs).</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB phased out forbearance on restructuring and rescheduling loans in mid-April, causing banks to face higher NPLs and retroactive taxation, which have hurt profitability, added the report. Although the banking system remains adequately provisioned with a coverage ratio of 70 percent, potential differentiation among individual institutions warrants close monitoring. A downturn in the real estate market has further complicated efforts by banks to sell seized collateral.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Historically, Nepal&rsquo;s business cycles led credit cycles, but this trend has reversed since the pandemic. Credit expansion now appears to drive economic activity, reversing the pre-pandemic relationship where economic output influenced credit growth, the IMF report further states</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF emphasizes the importance of understanding these credit dynamics to prevent future boom-bust cycles. It suggests that sustained regulatory adjustments by the Nepal Rastra Bank (NRB) can support sustainable, pro-growth credit allocation, and help stabilize the financial sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">By detecting early financial imbalances through measures like the credit-to-GDP gap, authorities can take proactive steps to mitigate risks and ensure financial stability. The IMF report underscores the need for continued vigilance and policy refinement to navigate the complexities of Nepal&rsquo;s evolving credit landscape.</span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '21305',
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	(int) 6 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
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			'created' => '2024-07-18',
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			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
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	(int) 7 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
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	(int) 8 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'description' => '',
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			'article_date' => '2024-07-17 18:12:34',
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	(int) 9 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2024-07-17 11:16:15',
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		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
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			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '21284',
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			'article_date' => '2024-07-17 09:59:42',
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			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2024-07-17 09:39:19',
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		'Article' => array(
			'id' => '21585',
			'article_category_id' => '1',
			'title' => 'IPO Issuance Droped by Rs 12 Billion Last Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. This approval covered more than 404.5 million shares. However, this represents a significant decrease compared to the previous fiscal year, when the board had approved IPOs worth over Rs 22.37 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statistics reveal a drop of Rs 11.62 billion in IPO issuance permissions. The number of companies receiving approval also fell sharply, from 42 in the previous year to just 9 in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The approval process for IPOs was stalled for about six months, which contributed to the reduced number of approvals. During his tenure, SEBON Chairman Ramesh Kumar Hamal prioritized IPO approvals to increase the number of companies listed in the secondary market. However, his term ended on January 5, and the board has yet to appoint a new chairman.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From January 4 to June 28, the IPO approval process was halted. Currently, in the absence of a chairman, the board is operating under the leadership of a representative from the Ministry of Finance. Although the IPO issuance process resumed on June 28 with the approval of Reliance Spinning Mills, the company has been barred from issuing further approvals for the time being due to the controversy over its dues to the Nepal Electricity Authority.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '21584',
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			'title' => 'Birgunj Customs Office Misses Revenue Collection Target',
			'sub_title' => '',
			'summary' => 'The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 18 : The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The customs office had set a revenue target of Rs 245.88 billion for the last fiscal year but managed to collect only Rs 157.40 billion, according to Birgunj Customs Information Officer Raghulal Karna. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This amount is approximately 36% less than the target, with the office achieving only 64.16% of the set goal. However, this is an improvement compared to the previous fiscal year 2079/80, when the office collected 60% of its revenue target, amounting to Rs 157.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Chief Customs Administrator Dilaram Panthi noted that foreign trade has seen a comparative improvement recently. Despite this improvement in trade in recent months, there remains a lack of &#39;confidence&#39; in the market, he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Birgunj checkpoint primarily handles the import of vehicles, petroleum products, and industrial raw materials. </span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Export items include juice, refined oil, textiles, and yarn products. Customs reported a decline in both the import and export of these goods.</span></span></p>

<p>&nbsp;</p>
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			'id' => '21583',
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			'title' => 'Prominent Female Entrepreneur Ambica Shrestha Passes Away',
			'sub_title' => '',
			'summary' => 'Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika's Hotel, has passed away.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika&#39;s Hotel, has passed away. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 91-year-old Shrestha passed away this morning while undergoing treatment at Medicity Hospital in Lalitpur, according to Binayak Shah, President of Hotel Association Nepal (HAN).</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Expressing sorrow over the news of her passing, Shah stated that her death is an irreplaceable loss to Nepal&#39;s tourism sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;She played a significant role and made numerous contributions in introducing Nepali tourism and boutique/heritage hotels to the world,&quot; Shah said, &quot;Her demise is an irreplaceable loss to tourism sector.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ambica Shrestha was one of Nepal&#39;s successful female entrepreneurs. She was currently serving as the chairperson of Dwarika&#39;s Hotel. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Born on February 12, 1933, in Sikkim, India, Ambica studied at Loreto Convent School in Darjeeling. She completed her undergraduate studies in commerce at Patna University. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After marrying Dwarikadas Shrestha, a member of a prominent business family in Nepal, she moved to Kathmandu.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After the death of her husband, who was also the chairperson of Dwarika&#39;s Hotel, she assumed the role of chairperson.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a successful female entrepreneur, she received various national honors. She was also honored with the &#39;Lifetime Achievement in Business Leadership&#39; award at the sixth &#39;NewBiz Business Conclave and Awards-2019&#39;.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In recognition of her unparalleled contributions to the Nepali industry, Shrestha was presented with this honor.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She was the founding chairperson of Nepal&#39;s first boutique hotel, Dwarika&#39;s Hotel. Apart from this, she was involved with more than a dozen social organizations. </span></span></p>
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			'sortorder' => '21309',
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			'article_date' => '2024-07-18 16:02:13',
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		'Article' => array(
			'id' => '21582',
			'article_category_id' => '1',
			'title' => 'NEPSE Surges by 59.68 Points; Turnover Crosses Rs 15 Billion',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week. This significant rise was largely driven by a substantial increase in the Banking Index.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This significant rise was largely driven by a substantial increase in the Banking Index.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, a total of 312 scrips were traded through 184,712 transactions on NEPSE. A total of 39,938,237 units of shares were exchanged, resulting in a turnover of Rs 15.54 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) led the turnover with transactions worth Rs 42 crore. Additionally, Nepal Investment Mega Bank Limited (NIMB), Nepal Finance Limited (NFS), Ankhu Khola Jalvidhyut Company Limited (AKJCL), Upakar Laghubitta Bittiya Sanstha Limited (ULBSL), and Three Star Hydropower Limited (TSHL) each gained 10%, hitting the positive circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Kumari Sabal Yojana (KSY) experienced the highest loss, dropping by 5.76%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regarding sector indices, all sectors closed in positive territory except for the Finance Index and Hydropower Index. The Banking Index saw the highest gain of 6.28%, while the Finance Index suffered a loss of 1.27%. </span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21308',
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			'id' => '21580',
			'article_category_id' => '1',
			'title' => 'Tripartite Agreement to Sell Electricity to Bangladesh on July 28',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal will be able to export electricity to a third country other than India for the first time after the agreement comes into force. Nepal has been exporting electricity in India&rsquo;s competitive market since 2021.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Spokesperson for the ministry, Nabin Raj Singh, told New Business Age, &ldquo;A tripartite agreement between the Nepal Electricity Authority (NEA), India&#39;s NTPC Vidyut Vyapar Nigam Limited (NVVN), and the Bangladesh Power Development Board (BPDB) is set to be signed on July 28.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh added, &ldquo;Since this is a historic moment, Energy Minister Deepak Khadka wrote a letter to the Indian and Bangladeshi energy ministers to participate in the agreement signing program.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The NEA had been waiting for the Bangladesh government&#39;s decision regarding electricity export from Nepal for a few months. Last week, BPDB wrote to NEA to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. The date of the tripartite signing was finalized based on coordination between the three sides.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the NEA, it will sell 40 megawatts of electricity to Bangladesh for six months of the rainy season (from June 15 to November 15 every year) for five years and will be paid in US dollars. The authority will receive 6.4 cents per unit by selling electricity to Bangladesh.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The ministry stated that 28,800 megawatt hours of electricity will be exported to Bangladesh per month. A total of 144,000 megawatt hours of electricity will be exported to Bangladesh in the next five months, earning Nepal Rs 1.23 billion.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Additionally, Singh mentioned that the bilateral high-level energy-related mechanism meeting between Nepal and Bangladesh is scheduled to be held on July 29 and 30 in Pokhara. The first day of the meeting will see joint secretary level joint working group meeting followed by secretary level joint steering committee meeting the next day.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh also noted that an agreement regarding the formation of a joint venture to build the Sunkoshi 3 hydropower project with a capacity of 683 megawatts may be signed at the bilateral mechanism meeting. He said, &ldquo;We have sent the draft of the memorandum to Bangladesh. If there is an agreement before the meeting, the contract will be signed. Otherwise, there will only be more discussion about it.&rdquo;</span></span></p>

<p>&nbsp;</p>
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			'id' => '21579',
			'article_category_id' => '1',
			'title' => 'IMF Report Highlights Post-Pandemic Credit Challenges and Fiscal Pressure in Nepal',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal's credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal&#39;s credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">A report prepared by the IMF following the Fourth Review of the Extended Credit Facility to Nepal states that the country experienced demand-driven credit growth before the COVID-19 pandemic, primarily fueling investment activities. This period saw robust economic expansion without significant inflation, supported by large remittance inflows and accommodative monetary policies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In stark contrast, the post-pandemic credit boom has been largely supply-driven, facilitated by broad-based financial regulation relaxations. This surge disproportionately favored households and non-tradable sectors, leading to excessive credit accumulation. The subsequent economic slowdown and deleveraging highlight the vulnerabilities of this approach, the IMF warned.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report also notes that revenue growth in FY2023/24 has remained subdued despite several tax measures introduced in the budget. By mid-May, tax revenue grew by only 9.1 percent year-on-year, broadly in line with the nominal GDP growth projection. The tax revenue-to-GDP ratio declined from the pre-pandemic average of 18.5 percent to 16.2 percent in FY2022/23, due to factors such as weaker imports, the transition to electric vehicles with lower import duties, increased informal trade, and restrictions on Indian exports.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In response to near-term fiscal pressures, the government has reduced expenditure. Despite lower-than-expected revenue collection, spending restraint through the mid-term budget review in January 2024 is expected to improve the primary balance by +0.7 percent of GDP in FY2023/24.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF report points out that Nepal&rsquo;s private sector credit has expanded significantly in recent years, driven by rapid credit growth and pandemic-related stimulus. The credit-to-GDP ratio now stands near 100 percent, suggesting financial deepening levels are excessive for Nepal&rsquo;s economic development stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyzing the credit-to-GDP gap reveals that recent credit expansion has been unprecedented. At its peak, the credit gap exceeded 10 percentage points (pp), far above historical norms. The subsequent correction has brought the gap down to around -5 pp, indicating a sharp reversal and raising concerns about future credit cycles.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report highlights increasing financial sector vulnerabilities as banks face mounting capital pressure. Following the post-pandemic credit boom, banks have adjusted lending practices, reclassifying loans and absorbing losses amid a challenging economic environment. Improvements in working capital loan guidelines in 2022 and asset classification regulation in 2023 have led to a healthy shift to term lending but also a reassessment of client relationships and an increase in gross non-performing loans (NPLs).</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB phased out forbearance on restructuring and rescheduling loans in mid-April, causing banks to face higher NPLs and retroactive taxation, which have hurt profitability, added the report. Although the banking system remains adequately provisioned with a coverage ratio of 70 percent, potential differentiation among individual institutions warrants close monitoring. A downturn in the real estate market has further complicated efforts by banks to sell seized collateral.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Historically, Nepal&rsquo;s business cycles led credit cycles, but this trend has reversed since the pandemic. Credit expansion now appears to drive economic activity, reversing the pre-pandemic relationship where economic output influenced credit growth, the IMF report further states</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF emphasizes the importance of understanding these credit dynamics to prevent future boom-bust cycles. It suggests that sustained regulatory adjustments by the Nepal Rastra Bank (NRB) can support sustainable, pro-growth credit allocation, and help stabilize the financial sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">By detecting early financial imbalances through measures like the credit-to-GDP gap, authorities can take proactive steps to mitigate risks and ensure financial stability. The IMF report underscores the need for continued vigilance and policy refinement to navigate the complexities of Nepal&rsquo;s evolving credit landscape.</span></span></p>

<p>&nbsp;</p>
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			'keywords' => 'IMF, report, Nepal, ECF, extended, credit, facility, pandemic, shift',
			'description' => '',
			'sortorder' => '21305',
			'image' => '20240718104814_20231006125525_20220426051733_imf.jpg',
			'article_date' => '2024-07-18 10:47:03',
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	(int) 6 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-18',
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			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
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	(int) 7 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
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	(int) 8 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '21291',
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			'article_date' => '2024-07-17 18:12:34',
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	(int) 9 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '21559',
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			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21285',
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			'article_date' => '2024-07-17 10:40:50',
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			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21284',
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			'article_date' => '2024-07-17 09:59:42',
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			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2024-07-17 09:39:19',
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		'Article' => array(
			'id' => '21585',
			'article_category_id' => '1',
			'title' => 'IPO Issuance Droped by Rs 12 Billion Last Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: The Securities Board of Nepal (Sebon) approved the issuance of ordinary shares (IPOs) worth Rs 10.75 billion in the last fiscal year. This approval covered more than 404.5 million shares. However, this represents a significant decrease compared to the previous fiscal year, when the board had approved IPOs worth over Rs 22.37 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statistics reveal a drop of Rs 11.62 billion in IPO issuance permissions. The number of companies receiving approval also fell sharply, from 42 in the previous year to just 9 in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The approval process for IPOs was stalled for about six months, which contributed to the reduced number of approvals. During his tenure, SEBON Chairman Ramesh Kumar Hamal prioritized IPO approvals to increase the number of companies listed in the secondary market. However, his term ended on January 5, and the board has yet to appoint a new chairman.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">From January 4 to June 28, the IPO approval process was halted. Currently, in the absence of a chairman, the board is operating under the leadership of a representative from the Ministry of Finance. Although the IPO issuance process resumed on June 28 with the approval of Reliance Spinning Mills, the company has been barred from issuing further approvals for the time being due to the controversy over its dues to the Nepal Electricity Authority.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '21584',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Office Misses Revenue Collection Target',
			'sub_title' => '',
			'summary' => 'The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 18 : The Birgunj Customs Office, a key checkpoint for import and export trade, failed to meet its revenue target for the fiscal year 2080/81 due to a decrease in foreign trade. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The customs office had set a revenue target of Rs 245.88 billion for the last fiscal year but managed to collect only Rs 157.40 billion, according to Birgunj Customs Information Officer Raghulal Karna. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This amount is approximately 36% less than the target, with the office achieving only 64.16% of the set goal. However, this is an improvement compared to the previous fiscal year 2079/80, when the office collected 60% of its revenue target, amounting to Rs 157.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Chief Customs Administrator Dilaram Panthi noted that foreign trade has seen a comparative improvement recently. Despite this improvement in trade in recent months, there remains a lack of &#39;confidence&#39; in the market, he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Birgunj checkpoint primarily handles the import of vehicles, petroleum products, and industrial raw materials. </span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Export items include juice, refined oil, textiles, and yarn products. Customs reported a decline in both the import and export of these goods.</span></span></p>

<p>&nbsp;</p>
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			'id' => '21583',
			'article_category_id' => '1',
			'title' => 'Prominent Female Entrepreneur Ambica Shrestha Passes Away',
			'sub_title' => '',
			'summary' => 'Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika's Hotel, has passed away.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: Ambica Shrestha, a renowned female entrepreneur, tourism businessperson, and chairperson of Dwarika&#39;s Hotel, has passed away. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 91-year-old Shrestha passed away this morning while undergoing treatment at Medicity Hospital in Lalitpur, according to Binayak Shah, President of Hotel Association Nepal (HAN).</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Expressing sorrow over the news of her passing, Shah stated that her death is an irreplaceable loss to Nepal&#39;s tourism sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;She played a significant role and made numerous contributions in introducing Nepali tourism and boutique/heritage hotels to the world,&quot; Shah said, &quot;Her demise is an irreplaceable loss to tourism sector.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ambica Shrestha was one of Nepal&#39;s successful female entrepreneurs. She was currently serving as the chairperson of Dwarika&#39;s Hotel. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Born on February 12, 1933, in Sikkim, India, Ambica studied at Loreto Convent School in Darjeeling. She completed her undergraduate studies in commerce at Patna University. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After marrying Dwarikadas Shrestha, a member of a prominent business family in Nepal, she moved to Kathmandu.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After the death of her husband, who was also the chairperson of Dwarika&#39;s Hotel, she assumed the role of chairperson.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a successful female entrepreneur, she received various national honors. She was also honored with the &#39;Lifetime Achievement in Business Leadership&#39; award at the sixth &#39;NewBiz Business Conclave and Awards-2019&#39;.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In recognition of her unparalleled contributions to the Nepali industry, Shrestha was presented with this honor.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She was the founding chairperson of Nepal&#39;s first boutique hotel, Dwarika&#39;s Hotel. Apart from this, she was involved with more than a dozen social organizations. </span></span></p>
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			'sortorder' => '21309',
			'image' => '20240718040335_collage (1).jpg',
			'article_date' => '2024-07-18 16:02:13',
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		'Article' => array(
			'id' => '21582',
			'article_category_id' => '1',
			'title' => 'NEPSE Surges by 59.68 Points; Turnover Crosses Rs 15 Billion',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week. This significant rise was largely driven by a substantial increase in the Banking Index.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 18: The Nepal Stock Exchange (NEPSE) Index continued its upward trend, gaining 59.68 points or 2.52%, to close at 2,424.32 on Thursday, the last trading day of the week.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This significant rise was largely driven by a substantial increase in the Banking Index.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, a total of 312 scrips were traded through 184,712 transactions on NEPSE. A total of 39,938,237 units of shares were exchanged, resulting in a turnover of Rs 15.54 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) led the turnover with transactions worth Rs 42 crore. Additionally, Nepal Investment Mega Bank Limited (NIMB), Nepal Finance Limited (NFS), Ankhu Khola Jalvidhyut Company Limited (AKJCL), Upakar Laghubitta Bittiya Sanstha Limited (ULBSL), and Three Star Hydropower Limited (TSHL) each gained 10%, hitting the positive circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Kumari Sabal Yojana (KSY) experienced the highest loss, dropping by 5.76%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regarding sector indices, all sectors closed in positive territory except for the Finance Index and Hydropower Index. The Banking Index saw the highest gain of 6.28%, while the Finance Index suffered a loss of 1.27%. </span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21308',
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			'id' => '21580',
			'article_category_id' => '1',
			'title' => 'Tripartite Agreement to Sell Electricity to Bangladesh on July 28',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The Ministry of Energy, Water Resources and Irrigation has said that a tripartite agreement to export electricity to Bangladesh from Nepal via India will be signed on July 28.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal will be able to export electricity to a third country other than India for the first time after the agreement comes into force. Nepal has been exporting electricity in India&rsquo;s competitive market since 2021.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Spokesperson for the ministry, Nabin Raj Singh, told New Business Age, &ldquo;A tripartite agreement between the Nepal Electricity Authority (NEA), India&#39;s NTPC Vidyut Vyapar Nigam Limited (NVVN), and the Bangladesh Power Development Board (BPDB) is set to be signed on July 28.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh added, &ldquo;Since this is a historic moment, Energy Minister Deepak Khadka wrote a letter to the Indian and Bangladeshi energy ministers to participate in the agreement signing program.&rdquo;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The NEA had been waiting for the Bangladesh government&#39;s decision regarding electricity export from Nepal for a few months. Last week, BPDB wrote to NEA to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. The date of the tripartite signing was finalized based on coordination between the three sides.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the NEA, it will sell 40 megawatts of electricity to Bangladesh for six months of the rainy season (from June 15 to November 15 every year) for five years and will be paid in US dollars. The authority will receive 6.4 cents per unit by selling electricity to Bangladesh.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The ministry stated that 28,800 megawatt hours of electricity will be exported to Bangladesh per month. A total of 144,000 megawatt hours of electricity will be exported to Bangladesh in the next five months, earning Nepal Rs 1.23 billion.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Additionally, Singh mentioned that the bilateral high-level energy-related mechanism meeting between Nepal and Bangladesh is scheduled to be held on July 29 and 30 in Pokhara. The first day of the meeting will see joint secretary level joint working group meeting followed by secretary level joint steering committee meeting the next day.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Singh also noted that an agreement regarding the formation of a joint venture to build the Sunkoshi 3 hydropower project with a capacity of 683 megawatts may be signed at the bilateral mechanism meeting. He said, &ldquo;We have sent the draft of the memorandum to Bangladesh. If there is an agreement before the meeting, the contract will be signed. Otherwise, there will only be more discussion about it.&rdquo;</span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '21579',
			'article_category_id' => '1',
			'title' => 'IMF Report Highlights Post-Pandemic Credit Challenges and Fiscal Pressure in Nepal',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal's credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The International Monetary Fund (IMF) has released a comprehensive report highlighting significant shifts in Nepal&#39;s credit growth patterns post-pandemic, contrasting with previous stable credit cycles, and addressing fiscal pressures and financial sector vulnerabilities.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">A report prepared by the IMF following the Fourth Review of the Extended Credit Facility to Nepal states that the country experienced demand-driven credit growth before the COVID-19 pandemic, primarily fueling investment activities. This period saw robust economic expansion without significant inflation, supported by large remittance inflows and accommodative monetary policies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In stark contrast, the post-pandemic credit boom has been largely supply-driven, facilitated by broad-based financial regulation relaxations. This surge disproportionately favored households and non-tradable sectors, leading to excessive credit accumulation. The subsequent economic slowdown and deleveraging highlight the vulnerabilities of this approach, the IMF warned.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report also notes that revenue growth in FY2023/24 has remained subdued despite several tax measures introduced in the budget. By mid-May, tax revenue grew by only 9.1 percent year-on-year, broadly in line with the nominal GDP growth projection. The tax revenue-to-GDP ratio declined from the pre-pandemic average of 18.5 percent to 16.2 percent in FY2022/23, due to factors such as weaker imports, the transition to electric vehicles with lower import duties, increased informal trade, and restrictions on Indian exports.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">In response to near-term fiscal pressures, the government has reduced expenditure. Despite lower-than-expected revenue collection, spending restraint through the mid-term budget review in January 2024 is expected to improve the primary balance by +0.7 percent of GDP in FY2023/24.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF report points out that Nepal&rsquo;s private sector credit has expanded significantly in recent years, driven by rapid credit growth and pandemic-related stimulus. The credit-to-GDP ratio now stands near 100 percent, suggesting financial deepening levels are excessive for Nepal&rsquo;s economic development stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyzing the credit-to-GDP gap reveals that recent credit expansion has been unprecedented. At its peak, the credit gap exceeded 10 percentage points (pp), far above historical norms. The subsequent correction has brought the gap down to around -5 pp, indicating a sharp reversal and raising concerns about future credit cycles.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report highlights increasing financial sector vulnerabilities as banks face mounting capital pressure. Following the post-pandemic credit boom, banks have adjusted lending practices, reclassifying loans and absorbing losses amid a challenging economic environment. Improvements in working capital loan guidelines in 2022 and asset classification regulation in 2023 have led to a healthy shift to term lending but also a reassessment of client relationships and an increase in gross non-performing loans (NPLs).</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB phased out forbearance on restructuring and rescheduling loans in mid-April, causing banks to face higher NPLs and retroactive taxation, which have hurt profitability, added the report. Although the banking system remains adequately provisioned with a coverage ratio of 70 percent, potential differentiation among individual institutions warrants close monitoring. A downturn in the real estate market has further complicated efforts by banks to sell seized collateral.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Historically, Nepal&rsquo;s business cycles led credit cycles, but this trend has reversed since the pandemic. Credit expansion now appears to drive economic activity, reversing the pre-pandemic relationship where economic output influenced credit growth, the IMF report further states</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">The IMF emphasizes the importance of understanding these credit dynamics to prevent future boom-bust cycles. It suggests that sustained regulatory adjustments by the Nepal Rastra Bank (NRB) can support sustainable, pro-growth credit allocation, and help stabilize the financial sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">By detecting early financial imbalances through measures like the credit-to-GDP gap, authorities can take proactive steps to mitigate risks and ensure financial stability. The IMF report underscores the need for continued vigilance and policy refinement to navigate the complexities of Nepal&rsquo;s evolving credit landscape.</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-07-18',
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			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
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	(int) 7 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
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	(int) 8 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '21285',
			'image' => '20240717104126_bb31ab81.jpeg',
			'article_date' => '2024-07-17 10:40:50',
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		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2024-07-17 09:59:42',
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			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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