September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian…
September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian…
September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary…
September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other…
September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on…
September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies.…
September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like…
September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes…
The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive…
September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on…
September 26: The export of sanitary pads from Nepal has increased by 582…
September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to…
September 26: The government has waived the fee for company registration and capital increment effective from…
September 26: Although the festive season is just around the corner, there is no excitement in the…
September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur…
September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou,…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian Games. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They bludgeoned 314-3 in their 20 overs in Hangzhou, beating the previous highest of 278-3 by Afghanistan against Ireland in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla, batting number three, led the way by crashing the fastest T20 international century, off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla beat the previous quickest, by South African David Miller in 35 balls against Bangladesh in 2017, and went on to finish on 137 not out off just 50 balls. He smacked 12 sixes and eight fours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's batsmen were rampant on a sunny morning at the Zhejiang University for Technology Pingfeng Cricket Field, captain Rohit Paudel creaming 61 off 27 balls with six sixes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But it was Dipendra Singh Airee who finished the innings in ridiculous fashion against the hapless Mongolian bowlers, hitting a scarcely believable eight sixes in an unbeaten 52 off 10 balls. He reached his fifty off nine balls, another world record, beating India's Yuvraj Singh's 2007 effort against England which took 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's 26 sixes in the innings was also a record, beating Afghanistan's 22 against Ireland. Mongolia, whose women's team were bowled out for just 15 last week in the Asian Games, were dismissed for just 41. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's winning margin of 273 runs was the biggest in terms of runs ever in a T20 international. It beat the Czech Republic's 257-run margin against Turkey in 2019. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18836', 'image' => '20230927064505_Cricket Phot (2).jpg', 'article_date' => '2023-09-27 18:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19107', 'article_category_id' => '1', 'title' => 'NRB under Pressure from Government as Interbank Interest Rate Drops Below the Monetary Policy Target', 'sub_title' => '', 'summary' => 'September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While issuing the monetary policy for the current fiscal year, Nepal Rastra Bank had set a target to maintain the average interbank interest rate higher than the bank rate and lower than the deposit collection rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The upper limit of the interest rate corridor at present is the bank rate of 7.5 percent and the lower limit of the deposit collection rate is 4.5 percent. In order to maintain the interest rate within this limit, there is a provision for the central bank to use various monetary instruments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the interbank interest rate has fallen below the monetary policy target in the last two weeks, the central bank has not mopped excess liquidity from the market. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened. However, since September 13, the interbank interest rate has been consistently lower than the target. Even on Monday, the average interbank interest rate remained at 2.54 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the liquidity in the market increased and the interest rate fell below the target, the central bank collected Rs 20 billion through deposit collection tools on July 13. The deposit has matured on July 20 and has been returned to the market. Similarly, the reverse repo of Rs 20 billion with maturity period of 14 days, which was issued on July 12, also matured on July 26.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, the average interbank interest rate had fallen below 1 percent. Since then, the central bank has not mopped liquidity from the market. Currently, banks and financial institutions have more than Rs 400 billion of liquidity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have not been able to invest new loans due to the slowdown in economic activities. The investment of banks, that are unable to expand credit flow, is now limited to the internal debts of the government.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, the government is raising internal debt aggressively. The central bank has not even implemented the announcement of the monetary policy in order to help the government raise debt at a low cost, according to Rashtra Bank sources. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a representation of the Ministry of Finance in the open market transaction committee," said a director of the Nepal Rastra Bank, "Therefore, rather than implementing monetary policy, the market is being operated in such a way as to support the government."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources claimed that even though the main goal of the central bank is to maintain the interest rate within the limits, even the monetary policy has not been implemented under the pressure of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Taking advantage of the interbank interest rate which is below the target, the government is raising domestic debt at a cheap rate. Only on Monday, the government renewed the treasury bills at an interest rate of 3.441 percent. In July last year, the interest rate of treasury bills had exceeded 12 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, which announced that it will collect domestic debt equal to Rs 240 billion in the current year, started collecting the debt from late July. In the current year, the central bank has already raised Rs 59.21 billion loans for the government through the issuance of development bonds. Similarly, Rs 5 billion has been raised through treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank’s Deputy Spokesperson Dr Dilliram Pokharel says that the central bank did not mop liquidity from the market because current interbank interest rate is of short-term. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The inter-bank interest rate has fallen below the target after the government allowed the accumulated amount of the local level to be counted as deposits," he said, "Monetary instruments have not been issued because the liquidity is high and there is no long-term interest rate reduction." </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18835', 'image' => '20230927031503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-27 15:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19106', 'article_category_id' => '1', 'title' => '‘Cities of Nepal have Turned into Dumping Sites for Low-Quality Foreign Goods’', 'sub_title' => '', 'summary' => 'September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a conversation with New Business Age, Thapa said, “Nepal's cities are not financial hubs or production centers, they are just the dumping sites of poor-quality goods from India, China, and beyond. There is neither local nor domestic production here.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Thapa, there should be a linkage between production in villages and consumption in cities, but the consumption of big cities of Nepal have linkage with Indian villages.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government has failed in systematic urbanization while protecting agricultural land and the policy of land classification has failed. He concluded that the government is to blame for this.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The government made a plan and started classifying land, but the work did not go according to the plan. It was entrusted to the local level, they did not understand its importance," said Thapa, "The goal was to prevent fragmentation of the arable land. However, most of the local levels classified the agricultural land as residential land.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that Nepali politicians do not understand that food security is also related to the country’s sovereignty. "No matter how strong the country is in other areas, if there is no food security and if the country is dependent on food, it cannot be considered a sovereign country," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the main reason for this is that the value of residential land is higher than that of agriculture, and there is a compulsion to take loans from the government and financial institutions to acquire such high-value land. He thinks that the government's policy has failed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa argues that industrialization in other countries took place through agriculture and urbanization, but in Nepal, urbanization went directly from agriculture to disorganization. Looking at the global environment, 54 percent of the population lives in cities. However, our settlements have turned into unorganised urbanization because the government did not give proper instructions, argues Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the government report says that 66 percent of the population lives in cities, that figure is wrong, argues Thapa. He says that this figure is only for those who live within the declared urban area, but the population living in the actual city is only 25 to 30 percent. He said that the cities of Nepal were built by the private sector and not by the government, and the cities that were built at the individual level were tailored to their small needs. According to Thapa, if the government creates policies and infrastructure, the private sector will create residential and commercial areas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He pointed out the need to revise the urban policy formulated in 2064. According to Thapa, the systematic urbanization in each development area and corridor mentioned in the said policy should now be done at the state level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the population, which should be decentralized due to federalism, is more concentrated in the capital in Nepal and the main reasons for this include convenience and employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that wherever big plans are made, there will be an increase in economic activities and gradual urbanization, but in Nepal, it is like a city without a plan. People will be attracted to the city for better opportunities, employment, services and facilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government aims to raise taxes to cover the expenses of political parties and local governments. He said that many rural municipalities were declared as municipalities with the hope that the budget received after declaring them as cities would increase and services and facilities would be provided.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, services and opportunities were not ready even when the agriculture-based lifestyle was displaced in the hill areas. Settlements increased in the Terai due to lack of opportunities and means of survival in the hill areas. Thapa said that this has led to disaster.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the hill population can be stopped from out-bound migration, but for that the government has to come up with a policy. Thapa suggested that besides providing services, the government should build big plans, well-equipped hospitals, quality schools, universities and industries in the hill areas. This will bring employment opportunities and facilities there and the settlement will gradually return. “For this, the government should work by making a policy," he said, "Providing land to private hospitals and schools and giving tax exemptions can be a good start." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa concluded that no one raised such matters because politics is concentrated where there is large population in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized that the local and state governments should work together to manage the city in a strategic manner. Urban poverty is increasing in our cities. If it is not managed in time, there may be rebellion, warned Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There have been many such incidents. The city is not only for the rich, but also for the poor. If the government does not look after them, who will look after them?'' he said, adding, “What has happened in Kathmandu is wrong. Management is not restriction.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggested that the citizens should also be aware and cooperate with the government. He added, "While talking about rights, civic duty should not be forgotten.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to a study, 70 percent of the world's carbon emissions come from urban areas. Also, 58 percent of the emission is done by the construction sector. According to Thapa, transportation is the second major cause of carbon emission followed by industries. Referring to the fact that Bhutan has started calling itself 'carbon neutral', he said that we can become neutral in carbon emissions by 2045 if we go ahead with the plan now. He suggested that we should make the best use of our own forest for this. Thapa said it was wrong to say that the environment is damaged by cutting trees. He was of the view that old trees should be cut down while planting new ones.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He connected the Kagbeni flood and the inundation in Kathmandu with the climate change that was discussed among scientists a few years ago. However, he complains that this issue has not been raised in the forum of political parties. According to him, this is a topic that should be discussed at each and every home.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18834', 'image' => '20230927024211_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-09-27 14:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19105', 'article_category_id' => '1', 'title' => 'Nepal Thrashes Mongolia in 19th Asian Games as Cricket Records Tumble', 'sub_title' => '', 'summary' => 'September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated Magnolia by 273 runs in the match held at Zhejiang University of Technology’s Pingfeng cricket ground in China. This is so far the biggest-margin win in the men's cricket history of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Invited to bat first after losing the toss, Nepal scored 314 runs at the loss of three wickets in the allotted 20 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing the mammoth target, Mongolia was all-out for just 41 runs in 13.1 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's bowlers, Karan KC, Avinas Bohora and Sandeep Lamichhane took two wickets each and Sompal Kami, Kushal Bhurtel and Deependra Singh Airi sent one player each to the pavilion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, Nepali batsmen Kushal Bhurtel and Deependra Singh Airi made record runs. A Kushal Malla set a new record by smashing a maiden century off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He broke the fastest-century records of David Miller (South Africa), Sudesh Bikramashekhar (Czech Republic) and Rohit Sharma (India). All three batsmen had a record of smashing century off 35 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Deependra Singh Airi made another world record by smashing half a century in nine balls. Earlier, there was a world record in the name of Indian batsman Yubraj Singh who stroke half century off 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla was unbeaten on 137 runs off 50 balls while Airi hit 52 runs off 10 balls to steer Nepal to the record win. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla stoke 12 sixes and eight fours. Likewise, Captain Rohit Kumar Poudel made 61 runs off 27 balls, Kushal Bhurtel 19 off 23 balls and Sheikh 16 runs off 17 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will play next match against the Maldives. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18833', 'image' => '20230927014907_cric.jpg', 'article_date' => '2023-09-27 13:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19104', 'article_category_id' => '1', 'title' => 'SEBON Tightens the Noose on IPO Issuance of Hydropower Companies', 'sub_title' => '', 'summary' => 'September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. After a discussion between SEBON and the officials of Independent Power Producers Association, Nepal (IPPAN), a new arrangement has been decided regarding the securities of hydropower sector companies, SEBON sources informed New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the information provided by SEBON spokesperson Mukti Shrestha, a new system is going to be implemented regarding the transactions after the lock-in period of the initial public offering (IPO), rights shares and promoter shares of the hydropower company. According to him, the new system will not apply to companies that are currently in the process of IPO and rights share issuance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that SEBON is going to add some new provisions to make the securities transactions of hydropower companies transparent due to complaints from the general investors regarding the trading of the promoter shares of the listed hydropower company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the lock-in period, the hydropower companies can issue promoter shares only after starting commercial production of electricity, as per the new regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON said that the hydropower companies must mandatorily publish the information related to the opening of the lock-in period of promoter as well as general shareholders in a national daily newspaper and the company’s website and also provided the information to the SEBON and the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The company can start the share trading only after 15 business days after publishing the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, the number of companies issuing rights shares has increased as the Electricity Regulatory Commission, the regulator of hydropower companies, has allowed the issuance of rights shares to pay the loans taken by hydropower companies for the construction of the projects. Most of them are preparing to issue rights shares for loan repayment purposes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18832', 'image' => '20230927125148_hydro.jpg', 'article_date' => '2023-09-27 12:50:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19103', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Requests AIIB for Subsidized Financial Assistance ', 'sub_title' => '', 'summary' => 'September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Mahat made the appeal during the 8th annual meeting of the Asian Infrastructure Investment Bank (AIIB) held in Sharm El-Sheikh, Egypt. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, he further called on all member states to accept Nepal's proposal for placing a separate mechanism in providing subsidized financial aid to the least developed countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Mahat said some of the major challenges that have emerged worldwide include global economic instability, accelerated journey towards Green House Gas emissions, lackluster economic development of low and middle income countries and difficulty in access to financial resources for poverty alleviation to maintain quality life of citizens, RSS further reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The role of multilateral development banks, including AIIB is crucial to avert such crises, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Mahat said the low income countries also needed support for economic recovery and development, employment generation, green infrastructure development, expansion of access to financial instruments, technical and institutional capacity development, climate change-induced disaster management and other social safety nets. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat argued that the existing financial assistance mechanism and instruments are not adequate in the context when huge financial resource needed particularly for the least developed and developing countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, he also urged the AIIB to utilize innovative and creative finances, including public private partnership, green investment and combined finance to avoid the shortage of financial instruments in the countries having weak economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister stressed on the need for the enhancement of climate finance and related facilities for Nepal and other countries that have been facing negative effects of climate change despite negligible role in carbon emission. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister also drew the attention of all participants towards reviewing and determining appropriate carbon trade. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal, a founding member of the AIIB established on the initiative of China, is yet to get any concessional loans from Asian Infrastructure Investment Bank (AIIB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In every annual meeting of AIIB, the finance ministry of Nepal submits proposals for concessional loans from the multilateral donor organisation but the AIIB turns down the proposals every time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As many as 86 countries attended the high-level AIIB meeting that concluded on Tuesday. Finance Minister Dr Mahat is returning home today. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18831', 'image' => '20230927114306_20230924020450_AIIB_20221212_Press-Release_ESS-Communications_1129X620px.jpg', 'article_date' => '2023-09-27 11:42:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19102', 'article_category_id' => '1', 'title' => 'World Tourism Day being Observed Today ', 'sub_title' => '', 'summary' => 'September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board, Department of Tourism and leading organizations of tourism sector are celebrating the day with several activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that the World Tourism Day is being observed in Nepal with the slogan 'Tourism and Green Investment'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to mark the day in a grand manner, the government has formed the 44th World Tourism Day Main Function Committee under the chairmanship of Minister for Tourism Sudan Kiranti. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry Spokesperson Rajendra Kumar KC, the Tourism Minister welcomed foreign tourists who arrived at the Tribhuvan International Airport through the first flight at 6.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a morning procession was held from Patan Dhoka, Lalitpur to Mangalbazaar at 7.30 am today. A formal programme is being organized in Patan Durbar area on the occasion jointly by the Ministry of Tourism and Lalitpur Metropolis. Organizations earning higher foreign currency and individuals and institutions making contributions to the tourism sector will be honoured today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Tourism Day is being marked on September 27 every year with the slogan 'Promoting Accessible Tourism for All'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18830', 'image' => '20230927105651_20180723035031_mangal bazar tourist.jpg', 'article_date' => '2023-09-27 10:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19101', 'article_category_id' => '1', 'title' => 'Festivals-centered Fair Price Shops to Run from October 8', 'sub_title' => '', 'summary' => 'The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 27: The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The outlets are expected to control unwanted price rise, maintain market quality and ensure the smooth supplies of food at reasonable rates during festivals.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government each year operates the fair price shops to prevent the monopoly of private sector in the market during festivals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Food Management and Trade Company Limited (FMTCL) and Salt Trading Corporation under the Ministry of Industry, Commerce and Supplies and Dairy Development Corporation under the Ministry of Agriculture and Livestock Development will collaborate to operate these shops. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Different varieties of rice, pulses, wheat flour, edible oil and beaten rice will be available in such outlets at relatively lower prices than in the regular market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, discount of Rs 10 has been offered in per kg beans and other grains produced in Karnali and live goats, and mountain goats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government has allocated Rs 23.22 million for Food Management and Trade Company to run fair price shops this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the government has allocated Rs 10 million to provide discount on food stuffs to be sold through Salt Trading Corporation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Salt Trading Corporation will sell sugar at Rs 97 per kg while it will provide Rs 2 discount on per kg salt and Rs 7 in per kg beaten rice.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Dairy Development Corporation will provide Rs 20 discount on per kg ghee and Rs 20 on per 200 gram paneer and Rs 50 on per 500 gram paneer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stalls will be put in 35 places including eight selling centre and three mobile shops of Food Management and Trade Company and Salt Trading Corporation located in Kathmandu Valley.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Besides this, the FMTCL will run fair-price shops in Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Kathmandu, Lalitpur, Bhaktapur, Kaski, Tanahun, Gorkha, Manang, Mustang, Rupandehi, Banke, Dang, Bardiya, Rukum East and Rukum West.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, FMTCL will have concessional stocks at 48 places of 42 districts, including Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Mahendranagar. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Such fair-price shops can also be operated in additional districts and places as per the need, the Ministry stated. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fixed discount can be accessed through free online home delivery, mobile service, cooperatives and dealers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A monitoring committee has also been formed to check whether the operated fair-price shops are effective or not. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Ministry, market monitoring would be further intensified throughout the festival period. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the case of Kathmandu Valley, the Ministry will form the team and carry out monitoring throughout the period the fair-price shops are operated. The corporations concerned shall also do the same. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Commerce, Supplies Management and Consumer Protection will also form additional team other than the regular monitoring and intensify the monitoring. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In case of other districts, the monitoring teams shall be constituted under the convenorship of the Chief District Officer or the Assistant Chief District Officer for carrying out a thorough monitoring, according to the Ministry. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18829', 'image' => '20230927055429_collage (6).jpg', 'article_date' => '2023-09-27 05:51:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19100', 'article_category_id' => '1', 'title' => 'Haughey Fires Paris Olympic Warning as China Tops Medal Tally', 'sub_title' => '', 'summary' => 'September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, audiences of overwhelmingly young spectators packed out the 4,500-capacity Hangzhou Esports Center in the hope of catching one of their heroes, especially South Korea's Lee "Faker" Sang-hyeok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Medals are up for grabs in seven gaming titles, with China grabbing the first gold when they defeated Malaysia in the final of smartphone game Arena of Valor. Malaysia took home silver and Thailand bronze.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the French news agency, China's place in the Games record books helped the home nation increase their overall tally of golds to 53 at the end of three days of action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They are way ahead of South Korea (14 golds), Japan (eight) and Uzbekistan and Hong Kong (both five).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey fires warning</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the 2024 Paris Olympics just 10 months away, Haughey won her second gold of the Games in another impressive performance in the pool which will make her rivals sit up and take notice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She shattered her own Asian record to add the Games 100m freestyle title to her Olympic and world silver medals, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The 25-year-old produced an exceptional swim on Monday to crush the pack by nearly two seconds and take out the 200m crown, smashing an Asian Games record that had stood since 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She was fired up again over the shorter distance in blasting a 52.17sec to send a warning to Australian freestylers Mollie O'Callaghan and Emma McKeon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey previously set an Asian record of 52.27 when she came second to McKeon at the Tokyo Olympics. Only world champion O'Callaghan has gone faster in 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, China again bossed the Hangzhou pool, taking four of the six golds on the night. The other went to Tomoru Honda, who stunned exhausted Japanese team-mate Daiya Seto in the 400m medley.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China rack up more golds</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On another day of dominance, China's all-powerful table tennis squad swept past rivals Japan 3-0 in the women's team final. They also claimed men's team gold over South Korea by the same scoreline.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In artistic gymnastics, Zhang Boheng won gold in the men's all-around final.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But China were dethroned by Japan in the men's team sprint at the Chun'an Jieshou Sports Centre Velodrome on the first day of action on the cycling track.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's women made no mistake in their team sprint final, beating South Korea to the title.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18828', 'image' => '20230926093931_976372-01-02.jpg', 'article_date' => '2023-09-26 21:38:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19099', 'article_category_id' => '1', 'title' => 'Sanitary Pad Industry Shutting Down', 'sub_title' => '', 'summary' => 'September 26: The export of sanitary pads from Nepal has increased by 582 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: The export of sanitary pads from Nepal has increased by 582 percent. Despite this encouraging trend, businessmen say that the industries that produce sanitary pads are shutting down in the country one after another. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Nepal Sanitary Pad Manufacturers Association, 42 percent of the pad manufacturing companies operating in Nepal have shut their factories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, Nepal exported 22.24 million sanitary pads worth Rs 56.88 million in just two months of the current fiscal year. In the same period last year, Nepal exported 2.78 million sanitary pads worth Rs 8.4 million.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sanitary pads are exported from Nepal to the United States of America and India. According to the Department of Customs, pads were exported mostly to India in the current year. In the last two months, 22 million pads worth Rs 56.87 million were exported to India alone. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dolraj Adhikari, president of the Nepal Sanitary Pad Manufacturers Association, says that despite the increase in exports, pad industries are shutting down. According to him, out of 35 industries operating in Nepal, about 15 have been closed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“The pad industry is in trouble now mainly due to the economic recession and also because it does not fall in the priority list of the government. Therefore, to encourage the pad industry and to be completely self-sufficient in pads, it is necessary to change the difference between the customs duty on the import of ready-made goods and raw materials to of 10 percent, which is 2 percent at present.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, in the two months of this year, Nepal imported 29.1 million sanitary pads worth Rs 186.8 million from abroad, according to the data of the Department of Customs. Last year, during the same period, 31.7 million sanitary pads worth Rs 245.2 million were imported.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Compared to last year, the import of sanitary pads decreased this year. Nepal imports pads from Australia, Bangladesh, China, India, Korea, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America and other countries.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18827', 'image' => '20230926042050_1695714812.jpeg', 'article_date' => '2023-09-26 16:20:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19097', 'article_category_id' => '1', 'title' => 'Nepal, China Issue Joint Statement Promising Cooperation in Railway, Connectivity and More', 'sub_title' => '', 'summary' => 'September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China. The joint statement issued on Tuesday states that the Chinese side is ready to help Nepal train railway professionals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The two sides expressed satisfaction over the progress of the feasibility study of the Jilong/Keyrung-Kathmandu Cross-Border Railway, and planned to hold the 8th Working Meeting on China-Nepal Railway Cooperation as early as possible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Acknowledging the signing of the MoU between the Government of Nepal and the Government of the People’s Republic of China on bilateral cooperation under the framework of the Belt and Road Initiative on 12 May 2017, both the countries expressed their commitment to accelerate the consultations to finalize the text on the BRI Implementation Plan at an early date. They expressed readiness to exchange experiences on their development strategies, deepen practical cooperation in such fields as infrastructure connectivity, trade, tourism, production capacity and investment, and further deepen and solidify Belt and Road cooperation to deliver greater benefits to their peoples.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Chinese side also expressed its commitment to extend its support to improve the facilities on the Nepali side of the Lizi-Nechung port at the earliest possible date. The Chinese side agreed to work for the early reopening of eligible traditional China-Nepal border trade points. The two sides also agreed to maintain communication for the opening of Chentang-Kimathanka, Riwu-Olangchungola ports at an early date. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Considering the needs of Nepal, China has agreed to carry out the fourth phase of the Araniko highway maintenance project and to quickly carry out the Syafrubesi-Rasuwagadhi highway maintenance work, mentions the joint statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, China has agreed to speed up the feasibility study of the Tokha-Chhare tunnel project and the second phase of the Kathmandu Ring Road project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In order to transform Nepal from a landlocked country to a land-linked country, both sides have agreed to continue the implementation of the documents signed in the past regarding China's transportation and highway use.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nepal and China welcomed the consensus reached between the civil aviation authorities of the two countries on expanding the air rights arrangements, and expressed satisfaction over the completion and operation of the Pokhara International Airport. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The two sides support and encourage their airlines to resume and open more flights and air routes, including ones connecting Pokhara, in accordance with bilateral air rights arrangements and in light of market needs, so as to facilitate trade and economic interactions and people-to-people exchanges,” reads the statement. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18826', 'image' => '20230926035708_1695708697.collage (1).jpg', 'article_date' => '2023-09-26 15:56:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19098', 'article_category_id' => '1', 'title' => 'Government Waives Fee for Company Registration and Capital Increment', 'sub_title' => '', 'summary' => 'September 26: The government has waived the fee for company registration and capital increment effective from Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 26: The government has waived the fee for company registration and capital increment effective from Monday. This new provision has come into effect after the government published a notice in this regard in the Nepal Gazette.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made such arrangements in line with the announcement made in the budget for the current fiscal year to make company registration free of cost.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice published in the Nepal Gazette by the Ministry of Industry, Commerce and Supplies mentions that the fees that were previously charged during company registration and capital increment have been waived.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"No fee will be charged while registering a private limited company and a public limited company or for increasing the capital of a registered company according to section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Companies Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">," reads the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, arrangements have been made to waive the fee for registration of foreign companies provided that they do not register branch offices and contact office and pledge not to distribute profits.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18825', 'image' => '20230926040950_20230720113533_company registration.jpg', 'article_date' => '2023-09-26 16:09:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19096', 'article_category_id' => '1', 'title' => 'Private Sector not Ready to Accept Government’s Claim that Economic Indicators have Improved', 'sub_title' => 'Industrialists Running Industry not to Make Profit, but to Reduce Losses', 'summary' => 'September 26: Although the festive season is just around the corner, there is no excitement in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: Although the festive season is just around the corner, there is no excitement in the market. The market is still struggling due to the slowdown caused by Covid-19 pandemic. On top of that, the import control policy adopted by the government and the current capital loan guidelines implemented by the central bank have further weakened the market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As the foreign exchange reserves began to decrease, the panicked government adopted a policy of tightening imports. However, this policy could not work effectively. Except for few items that were restricted, all others were easily available in the market through illegal channels, resulting in skyrocketing of prices. As the revenue loss from unauthorized imports increased, the government lifted the ban on imports.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Even this step could not bring the market back to the rhythm. Entrepreneurs say that now the production of industries has fallen to less than a quarter of their full capacity. While the government is claiming that the economic indicators have improved, the private sector is not ready to accept this.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The private sector believes that the market is going into recession. Hari Gautam, senior vice president of Birgunj Industry and Commerce says, “There are no signs of improvement in the market. Positive statistics alone is not enough. The market should feel the impact accordingly.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Currently, the consumption of construction materials, clothes and daily consumables has decreased. Businessmen say that the halt in works of the construction industry has had a ripple effect in demand and production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Industrialists say that the demand for the products of large industries like cement and iron has decreased heavily.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong><span style="font-family:"Arial","sans-serif"">Consumption of medicine also decreased</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to Prabhat Rungta, treasurer of Nepal Pharmaceutical Producers Association, the consumption of even essential medicines has decreased. Businessmen say that the demand for medicines has decreased due to the increase in health awareness since the onset of the Covid-19 pandemic and cheap medicines available in the market and health insurance schemes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rungta said that since the government has been supplying medicines provided under health insurance through global tenders, domestic manufacturers have not been able to compete in the market. Producers estimate that the consumption of domestically-produced medicines has decreased by 25 to 30 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">How to solve?</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The lack of investable funds (liquidity) seen in the banking system is one of the main reasons for the contraction in business of the private sector. Due to the high interest rate, the construction works have stopped and there is lack of new investment. Businessmen say that the overall demand has decreased due to its cyclical effect.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under FNCCI, suggests that the government should increase its public spending capacity to make the market vibrant. Gupta says, “If the government fails to cut unnecessary expenses and increase capital expenditure, there may be a serious economic crisis. The government has not been serious about it yet,”</span> said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The business community believes that if investment is increased in the market to create demand, the economy will return to normalcy. Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI, says that the provision of current capital loan guidelines should be suspended for now and the market should be made operational.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Businessmen say that a long-term solution to the lack of liquidity should be sought. Senior Vice President Gautam says, “There should be a clear policy arrangement to keep the interest rate under control.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18824', 'image' => '20230926021413_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-09-26 14:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19095', 'article_category_id' => '1', 'title' => 'Indra Jatra Begins Today with the Setting up of Wooden Pole', 'sub_title' => '', 'summary' => 'September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The eight-day festival, having religious and cultural significance, is observed with much fanfare especially among the Newar communities in the Kathmandu Valley. It is also marked in districts such as Kavrepalanchowk and Dolakha. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indra Jatra, the main day of the festival, falls on the Bhadra Shukla Chathurdashi, the fourth day of the waxing moon in the month of Bhadra as per the lunar calendar. September 28 is the main day of the festival this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It begins from Bhadra Shukla Dwadashi and on that day a towering wooden pole (lingo) signifying the Lord of Rain-Indra- is installed in every town of Bhaktapur city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the tradition, erecting a lingo (a wooden pole) began at 10:37 am on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the festival, the wooden pole is brought from Bhaktapur to Kathmandu and installed on the chariot at Hanumandhoka in Basatapur Durbar Square. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of ceremonies are organized during the eight-day festival including Lakhe naach and Pulu Kisi procession. The chariot procession, a major part of the festival, involves pulling of a big chariot of the living Goddess Kumari and two smaller chariots of Lord Ganesh and Lord Bhairab along the thoroughfares of the city. It will take place on September 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the tradition, the Head of State visits and worships the living Goddess Kumari, Ganesh and Bhairav during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cultural expert and historian Prof Dr Purusottam Lochan Shrestha shared that although the Indra Jatra has been celebrated since Dwapar era (during the time of Mahabharata), King Jagat Prakash Malla of Bhaktapur in the 17th century collected Vedic scriptures and other holy texts such as the Puranas and imitated scenes based on the stories narrated in those scriptures and brought the culture and tradition of festivities. Historian Shrestha added that the festival is celebrated with the aim of maintain peace and order, fostering prosperity and to ward off natural calamities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that the locals believe that observing the festival will also prevent famine, epidemic, excessive rains and eradicate enmity among people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Kathmandu Metropolitan City (KMC), with the aim of promoting the dignity of Indra Jatra at the international level, has invited guests from various municipalities of foreign countries with which it has established sister relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC shared in a press meet on Monday that as many as 22 guests from the USA and China will visit Nepal to partake in the celebration of Indra Jatra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival will come to an end on October 2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18823', 'image' => '20230926112431_20220909091416_20180920035728_indra jatra.jpg', 'article_date' => '2023-09-26 11:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19093', 'article_category_id' => '1', 'title' => 'China Leads 19th Asian Games, Nepal Nil', 'sub_title' => '', 'summary' => 'September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China. But, Nepal is still unable to secure any medal till now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 45 countries participating in the Games, players from 25 countries have bagged medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Monday, China bagged 39 gold medals, 21 silver and nine bronze medals to top the medals tally. Similarly, South Korea is a distant second with 10 gold and silver medals each and 13 bronze medals, followed by Japan in the third position with five gold, 14 silver and 14 bronze medals, while Uzbekistan is trailing in the fourth position with four gold, six silver and bronze medals each. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance off the mark </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance in the ongoing Asian Games is off the mark. The players have disappointed the sports revelers. All Nepali players were defeated in tennis on Monday. Nepal lost in all four competitions. Pradip Khadka who won the first round match under men’s singles category lost to a Japanese player in straight sets in the second round. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Abhisek Bastola under men’s singles category was defeated by a Hong Kong player. The group of Avilasha Bista and Mahima Rana lost to South Korean team in women’s doubles. In the mixed doubles, Abhisek Bastola and Avilasha Bista lost to an Indonesian team. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal also lost in fencing, rugby, cycling, basketball, taekwondo, judo, and swimming. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Rabin Thapa who defeated an Indonesian player in 51-kg category in boxing 4-1 is playing with Korean players in the pre-quarter final. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18822', 'image' => '20230926105642_XxjpseE009233_20230925_PEPFN1A001 - Copy.JPG', 'article_date' => '2023-09-26 10:56:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian Games. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They bludgeoned 314-3 in their 20 overs in Hangzhou, beating the previous highest of 278-3 by Afghanistan against Ireland in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla, batting number three, led the way by crashing the fastest T20 international century, off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla beat the previous quickest, by South African David Miller in 35 balls against Bangladesh in 2017, and went on to finish on 137 not out off just 50 balls. He smacked 12 sixes and eight fours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's batsmen were rampant on a sunny morning at the Zhejiang University for Technology Pingfeng Cricket Field, captain Rohit Paudel creaming 61 off 27 balls with six sixes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But it was Dipendra Singh Airee who finished the innings in ridiculous fashion against the hapless Mongolian bowlers, hitting a scarcely believable eight sixes in an unbeaten 52 off 10 balls. He reached his fifty off nine balls, another world record, beating India's Yuvraj Singh's 2007 effort against England which took 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's 26 sixes in the innings was also a record, beating Afghanistan's 22 against Ireland. Mongolia, whose women's team were bowled out for just 15 last week in the Asian Games, were dismissed for just 41. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's winning margin of 273 runs was the biggest in terms of runs ever in a T20 international. It beat the Czech Republic's 257-run margin against Turkey in 2019. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18836', 'image' => '20230927064505_Cricket Phot (2).jpg', 'article_date' => '2023-09-27 18:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19107', 'article_category_id' => '1', 'title' => 'NRB under Pressure from Government as Interbank Interest Rate Drops Below the Monetary Policy Target', 'sub_title' => '', 'summary' => 'September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While issuing the monetary policy for the current fiscal year, Nepal Rastra Bank had set a target to maintain the average interbank interest rate higher than the bank rate and lower than the deposit collection rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The upper limit of the interest rate corridor at present is the bank rate of 7.5 percent and the lower limit of the deposit collection rate is 4.5 percent. In order to maintain the interest rate within this limit, there is a provision for the central bank to use various monetary instruments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the interbank interest rate has fallen below the monetary policy target in the last two weeks, the central bank has not mopped excess liquidity from the market. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened. However, since September 13, the interbank interest rate has been consistently lower than the target. Even on Monday, the average interbank interest rate remained at 2.54 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the liquidity in the market increased and the interest rate fell below the target, the central bank collected Rs 20 billion through deposit collection tools on July 13. The deposit has matured on July 20 and has been returned to the market. Similarly, the reverse repo of Rs 20 billion with maturity period of 14 days, which was issued on July 12, also matured on July 26.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, the average interbank interest rate had fallen below 1 percent. Since then, the central bank has not mopped liquidity from the market. Currently, banks and financial institutions have more than Rs 400 billion of liquidity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have not been able to invest new loans due to the slowdown in economic activities. The investment of banks, that are unable to expand credit flow, is now limited to the internal debts of the government.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, the government is raising internal debt aggressively. The central bank has not even implemented the announcement of the monetary policy in order to help the government raise debt at a low cost, according to Rashtra Bank sources. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a representation of the Ministry of Finance in the open market transaction committee," said a director of the Nepal Rastra Bank, "Therefore, rather than implementing monetary policy, the market is being operated in such a way as to support the government."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources claimed that even though the main goal of the central bank is to maintain the interest rate within the limits, even the monetary policy has not been implemented under the pressure of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Taking advantage of the interbank interest rate which is below the target, the government is raising domestic debt at a cheap rate. Only on Monday, the government renewed the treasury bills at an interest rate of 3.441 percent. In July last year, the interest rate of treasury bills had exceeded 12 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, which announced that it will collect domestic debt equal to Rs 240 billion in the current year, started collecting the debt from late July. In the current year, the central bank has already raised Rs 59.21 billion loans for the government through the issuance of development bonds. Similarly, Rs 5 billion has been raised through treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank’s Deputy Spokesperson Dr Dilliram Pokharel says that the central bank did not mop liquidity from the market because current interbank interest rate is of short-term. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The inter-bank interest rate has fallen below the target after the government allowed the accumulated amount of the local level to be counted as deposits," he said, "Monetary instruments have not been issued because the liquidity is high and there is no long-term interest rate reduction." </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18835', 'image' => '20230927031503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-27 15:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19106', 'article_category_id' => '1', 'title' => '‘Cities of Nepal have Turned into Dumping Sites for Low-Quality Foreign Goods’', 'sub_title' => '', 'summary' => 'September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a conversation with New Business Age, Thapa said, “Nepal's cities are not financial hubs or production centers, they are just the dumping sites of poor-quality goods from India, China, and beyond. There is neither local nor domestic production here.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Thapa, there should be a linkage between production in villages and consumption in cities, but the consumption of big cities of Nepal have linkage with Indian villages.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government has failed in systematic urbanization while protecting agricultural land and the policy of land classification has failed. He concluded that the government is to blame for this.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The government made a plan and started classifying land, but the work did not go according to the plan. It was entrusted to the local level, they did not understand its importance," said Thapa, "The goal was to prevent fragmentation of the arable land. However, most of the local levels classified the agricultural land as residential land.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that Nepali politicians do not understand that food security is also related to the country’s sovereignty. "No matter how strong the country is in other areas, if there is no food security and if the country is dependent on food, it cannot be considered a sovereign country," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the main reason for this is that the value of residential land is higher than that of agriculture, and there is a compulsion to take loans from the government and financial institutions to acquire such high-value land. He thinks that the government's policy has failed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa argues that industrialization in other countries took place through agriculture and urbanization, but in Nepal, urbanization went directly from agriculture to disorganization. Looking at the global environment, 54 percent of the population lives in cities. However, our settlements have turned into unorganised urbanization because the government did not give proper instructions, argues Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the government report says that 66 percent of the population lives in cities, that figure is wrong, argues Thapa. He says that this figure is only for those who live within the declared urban area, but the population living in the actual city is only 25 to 30 percent. He said that the cities of Nepal were built by the private sector and not by the government, and the cities that were built at the individual level were tailored to their small needs. According to Thapa, if the government creates policies and infrastructure, the private sector will create residential and commercial areas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He pointed out the need to revise the urban policy formulated in 2064. According to Thapa, the systematic urbanization in each development area and corridor mentioned in the said policy should now be done at the state level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the population, which should be decentralized due to federalism, is more concentrated in the capital in Nepal and the main reasons for this include convenience and employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that wherever big plans are made, there will be an increase in economic activities and gradual urbanization, but in Nepal, it is like a city without a plan. People will be attracted to the city for better opportunities, employment, services and facilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government aims to raise taxes to cover the expenses of political parties and local governments. He said that many rural municipalities were declared as municipalities with the hope that the budget received after declaring them as cities would increase and services and facilities would be provided.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, services and opportunities were not ready even when the agriculture-based lifestyle was displaced in the hill areas. Settlements increased in the Terai due to lack of opportunities and means of survival in the hill areas. Thapa said that this has led to disaster.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the hill population can be stopped from out-bound migration, but for that the government has to come up with a policy. Thapa suggested that besides providing services, the government should build big plans, well-equipped hospitals, quality schools, universities and industries in the hill areas. This will bring employment opportunities and facilities there and the settlement will gradually return. “For this, the government should work by making a policy," he said, "Providing land to private hospitals and schools and giving tax exemptions can be a good start." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa concluded that no one raised such matters because politics is concentrated where there is large population in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized that the local and state governments should work together to manage the city in a strategic manner. Urban poverty is increasing in our cities. If it is not managed in time, there may be rebellion, warned Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There have been many such incidents. The city is not only for the rich, but also for the poor. If the government does not look after them, who will look after them?'' he said, adding, “What has happened in Kathmandu is wrong. Management is not restriction.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggested that the citizens should also be aware and cooperate with the government. He added, "While talking about rights, civic duty should not be forgotten.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to a study, 70 percent of the world's carbon emissions come from urban areas. Also, 58 percent of the emission is done by the construction sector. According to Thapa, transportation is the second major cause of carbon emission followed by industries. Referring to the fact that Bhutan has started calling itself 'carbon neutral', he said that we can become neutral in carbon emissions by 2045 if we go ahead with the plan now. He suggested that we should make the best use of our own forest for this. Thapa said it was wrong to say that the environment is damaged by cutting trees. He was of the view that old trees should be cut down while planting new ones.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He connected the Kagbeni flood and the inundation in Kathmandu with the climate change that was discussed among scientists a few years ago. However, he complains that this issue has not been raised in the forum of political parties. According to him, this is a topic that should be discussed at each and every home.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18834', 'image' => '20230927024211_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-09-27 14:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19105', 'article_category_id' => '1', 'title' => 'Nepal Thrashes Mongolia in 19th Asian Games as Cricket Records Tumble', 'sub_title' => '', 'summary' => 'September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated Magnolia by 273 runs in the match held at Zhejiang University of Technology’s Pingfeng cricket ground in China. This is so far the biggest-margin win in the men's cricket history of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Invited to bat first after losing the toss, Nepal scored 314 runs at the loss of three wickets in the allotted 20 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing the mammoth target, Mongolia was all-out for just 41 runs in 13.1 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's bowlers, Karan KC, Avinas Bohora and Sandeep Lamichhane took two wickets each and Sompal Kami, Kushal Bhurtel and Deependra Singh Airi sent one player each to the pavilion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, Nepali batsmen Kushal Bhurtel and Deependra Singh Airi made record runs. A Kushal Malla set a new record by smashing a maiden century off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He broke the fastest-century records of David Miller (South Africa), Sudesh Bikramashekhar (Czech Republic) and Rohit Sharma (India). All three batsmen had a record of smashing century off 35 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Deependra Singh Airi made another world record by smashing half a century in nine balls. Earlier, there was a world record in the name of Indian batsman Yubraj Singh who stroke half century off 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla was unbeaten on 137 runs off 50 balls while Airi hit 52 runs off 10 balls to steer Nepal to the record win. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla stoke 12 sixes and eight fours. Likewise, Captain Rohit Kumar Poudel made 61 runs off 27 balls, Kushal Bhurtel 19 off 23 balls and Sheikh 16 runs off 17 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will play next match against the Maldives. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18833', 'image' => '20230927014907_cric.jpg', 'article_date' => '2023-09-27 13:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19104', 'article_category_id' => '1', 'title' => 'SEBON Tightens the Noose on IPO Issuance of Hydropower Companies', 'sub_title' => '', 'summary' => 'September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. After a discussion between SEBON and the officials of Independent Power Producers Association, Nepal (IPPAN), a new arrangement has been decided regarding the securities of hydropower sector companies, SEBON sources informed New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the information provided by SEBON spokesperson Mukti Shrestha, a new system is going to be implemented regarding the transactions after the lock-in period of the initial public offering (IPO), rights shares and promoter shares of the hydropower company. According to him, the new system will not apply to companies that are currently in the process of IPO and rights share issuance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that SEBON is going to add some new provisions to make the securities transactions of hydropower companies transparent due to complaints from the general investors regarding the trading of the promoter shares of the listed hydropower company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the lock-in period, the hydropower companies can issue promoter shares only after starting commercial production of electricity, as per the new regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON said that the hydropower companies must mandatorily publish the information related to the opening of the lock-in period of promoter as well as general shareholders in a national daily newspaper and the company’s website and also provided the information to the SEBON and the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The company can start the share trading only after 15 business days after publishing the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, the number of companies issuing rights shares has increased as the Electricity Regulatory Commission, the regulator of hydropower companies, has allowed the issuance of rights shares to pay the loans taken by hydropower companies for the construction of the projects. Most of them are preparing to issue rights shares for loan repayment purposes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18832', 'image' => '20230927125148_hydro.jpg', 'article_date' => '2023-09-27 12:50:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19103', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Requests AIIB for Subsidized Financial Assistance ', 'sub_title' => '', 'summary' => 'September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Mahat made the appeal during the 8th annual meeting of the Asian Infrastructure Investment Bank (AIIB) held in Sharm El-Sheikh, Egypt. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, he further called on all member states to accept Nepal's proposal for placing a separate mechanism in providing subsidized financial aid to the least developed countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Mahat said some of the major challenges that have emerged worldwide include global economic instability, accelerated journey towards Green House Gas emissions, lackluster economic development of low and middle income countries and difficulty in access to financial resources for poverty alleviation to maintain quality life of citizens, RSS further reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The role of multilateral development banks, including AIIB is crucial to avert such crises, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Mahat said the low income countries also needed support for economic recovery and development, employment generation, green infrastructure development, expansion of access to financial instruments, technical and institutional capacity development, climate change-induced disaster management and other social safety nets. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat argued that the existing financial assistance mechanism and instruments are not adequate in the context when huge financial resource needed particularly for the least developed and developing countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, he also urged the AIIB to utilize innovative and creative finances, including public private partnership, green investment and combined finance to avoid the shortage of financial instruments in the countries having weak economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister stressed on the need for the enhancement of climate finance and related facilities for Nepal and other countries that have been facing negative effects of climate change despite negligible role in carbon emission. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister also drew the attention of all participants towards reviewing and determining appropriate carbon trade. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal, a founding member of the AIIB established on the initiative of China, is yet to get any concessional loans from Asian Infrastructure Investment Bank (AIIB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In every annual meeting of AIIB, the finance ministry of Nepal submits proposals for concessional loans from the multilateral donor organisation but the AIIB turns down the proposals every time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As many as 86 countries attended the high-level AIIB meeting that concluded on Tuesday. Finance Minister Dr Mahat is returning home today. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18831', 'image' => '20230927114306_20230924020450_AIIB_20221212_Press-Release_ESS-Communications_1129X620px.jpg', 'article_date' => '2023-09-27 11:42:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19102', 'article_category_id' => '1', 'title' => 'World Tourism Day being Observed Today ', 'sub_title' => '', 'summary' => 'September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board, Department of Tourism and leading organizations of tourism sector are celebrating the day with several activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that the World Tourism Day is being observed in Nepal with the slogan 'Tourism and Green Investment'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to mark the day in a grand manner, the government has formed the 44th World Tourism Day Main Function Committee under the chairmanship of Minister for Tourism Sudan Kiranti. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry Spokesperson Rajendra Kumar KC, the Tourism Minister welcomed foreign tourists who arrived at the Tribhuvan International Airport through the first flight at 6.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a morning procession was held from Patan Dhoka, Lalitpur to Mangalbazaar at 7.30 am today. A formal programme is being organized in Patan Durbar area on the occasion jointly by the Ministry of Tourism and Lalitpur Metropolis. Organizations earning higher foreign currency and individuals and institutions making contributions to the tourism sector will be honoured today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Tourism Day is being marked on September 27 every year with the slogan 'Promoting Accessible Tourism for All'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18830', 'image' => '20230927105651_20180723035031_mangal bazar tourist.jpg', 'article_date' => '2023-09-27 10:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19101', 'article_category_id' => '1', 'title' => 'Festivals-centered Fair Price Shops to Run from October 8', 'sub_title' => '', 'summary' => 'The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 27: The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The outlets are expected to control unwanted price rise, maintain market quality and ensure the smooth supplies of food at reasonable rates during festivals.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government each year operates the fair price shops to prevent the monopoly of private sector in the market during festivals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Food Management and Trade Company Limited (FMTCL) and Salt Trading Corporation under the Ministry of Industry, Commerce and Supplies and Dairy Development Corporation under the Ministry of Agriculture and Livestock Development will collaborate to operate these shops. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Different varieties of rice, pulses, wheat flour, edible oil and beaten rice will be available in such outlets at relatively lower prices than in the regular market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, discount of Rs 10 has been offered in per kg beans and other grains produced in Karnali and live goats, and mountain goats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government has allocated Rs 23.22 million for Food Management and Trade Company to run fair price shops this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the government has allocated Rs 10 million to provide discount on food stuffs to be sold through Salt Trading Corporation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Salt Trading Corporation will sell sugar at Rs 97 per kg while it will provide Rs 2 discount on per kg salt and Rs 7 in per kg beaten rice.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Dairy Development Corporation will provide Rs 20 discount on per kg ghee and Rs 20 on per 200 gram paneer and Rs 50 on per 500 gram paneer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stalls will be put in 35 places including eight selling centre and three mobile shops of Food Management and Trade Company and Salt Trading Corporation located in Kathmandu Valley.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Besides this, the FMTCL will run fair-price shops in Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Kathmandu, Lalitpur, Bhaktapur, Kaski, Tanahun, Gorkha, Manang, Mustang, Rupandehi, Banke, Dang, Bardiya, Rukum East and Rukum West.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, FMTCL will have concessional stocks at 48 places of 42 districts, including Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Mahendranagar. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Such fair-price shops can also be operated in additional districts and places as per the need, the Ministry stated. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fixed discount can be accessed through free online home delivery, mobile service, cooperatives and dealers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A monitoring committee has also been formed to check whether the operated fair-price shops are effective or not. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Ministry, market monitoring would be further intensified throughout the festival period. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the case of Kathmandu Valley, the Ministry will form the team and carry out monitoring throughout the period the fair-price shops are operated. The corporations concerned shall also do the same. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Commerce, Supplies Management and Consumer Protection will also form additional team other than the regular monitoring and intensify the monitoring. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In case of other districts, the monitoring teams shall be constituted under the convenorship of the Chief District Officer or the Assistant Chief District Officer for carrying out a thorough monitoring, according to the Ministry. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18829', 'image' => '20230927055429_collage (6).jpg', 'article_date' => '2023-09-27 05:51:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19100', 'article_category_id' => '1', 'title' => 'Haughey Fires Paris Olympic Warning as China Tops Medal Tally', 'sub_title' => '', 'summary' => 'September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, audiences of overwhelmingly young spectators packed out the 4,500-capacity Hangzhou Esports Center in the hope of catching one of their heroes, especially South Korea's Lee "Faker" Sang-hyeok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Medals are up for grabs in seven gaming titles, with China grabbing the first gold when they defeated Malaysia in the final of smartphone game Arena of Valor. Malaysia took home silver and Thailand bronze.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the French news agency, China's place in the Games record books helped the home nation increase their overall tally of golds to 53 at the end of three days of action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They are way ahead of South Korea (14 golds), Japan (eight) and Uzbekistan and Hong Kong (both five).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey fires warning</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the 2024 Paris Olympics just 10 months away, Haughey won her second gold of the Games in another impressive performance in the pool which will make her rivals sit up and take notice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She shattered her own Asian record to add the Games 100m freestyle title to her Olympic and world silver medals, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The 25-year-old produced an exceptional swim on Monday to crush the pack by nearly two seconds and take out the 200m crown, smashing an Asian Games record that had stood since 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She was fired up again over the shorter distance in blasting a 52.17sec to send a warning to Australian freestylers Mollie O'Callaghan and Emma McKeon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey previously set an Asian record of 52.27 when she came second to McKeon at the Tokyo Olympics. Only world champion O'Callaghan has gone faster in 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, China again bossed the Hangzhou pool, taking four of the six golds on the night. The other went to Tomoru Honda, who stunned exhausted Japanese team-mate Daiya Seto in the 400m medley.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China rack up more golds</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On another day of dominance, China's all-powerful table tennis squad swept past rivals Japan 3-0 in the women's team final. They also claimed men's team gold over South Korea by the same scoreline.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In artistic gymnastics, Zhang Boheng won gold in the men's all-around final.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But China were dethroned by Japan in the men's team sprint at the Chun'an Jieshou Sports Centre Velodrome on the first day of action on the cycling track.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's women made no mistake in their team sprint final, beating South Korea to the title.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18828', 'image' => '20230926093931_976372-01-02.jpg', 'article_date' => '2023-09-26 21:38:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19099', 'article_category_id' => '1', 'title' => 'Sanitary Pad Industry Shutting Down', 'sub_title' => '', 'summary' => 'September 26: The export of sanitary pads from Nepal has increased by 582 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: The export of sanitary pads from Nepal has increased by 582 percent. Despite this encouraging trend, businessmen say that the industries that produce sanitary pads are shutting down in the country one after another. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Nepal Sanitary Pad Manufacturers Association, 42 percent of the pad manufacturing companies operating in Nepal have shut their factories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, Nepal exported 22.24 million sanitary pads worth Rs 56.88 million in just two months of the current fiscal year. In the same period last year, Nepal exported 2.78 million sanitary pads worth Rs 8.4 million.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sanitary pads are exported from Nepal to the United States of America and India. According to the Department of Customs, pads were exported mostly to India in the current year. In the last two months, 22 million pads worth Rs 56.87 million were exported to India alone. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dolraj Adhikari, president of the Nepal Sanitary Pad Manufacturers Association, says that despite the increase in exports, pad industries are shutting down. According to him, out of 35 industries operating in Nepal, about 15 have been closed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“The pad industry is in trouble now mainly due to the economic recession and also because it does not fall in the priority list of the government. Therefore, to encourage the pad industry and to be completely self-sufficient in pads, it is necessary to change the difference between the customs duty on the import of ready-made goods and raw materials to of 10 percent, which is 2 percent at present.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, in the two months of this year, Nepal imported 29.1 million sanitary pads worth Rs 186.8 million from abroad, according to the data of the Department of Customs. Last year, during the same period, 31.7 million sanitary pads worth Rs 245.2 million were imported.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Compared to last year, the import of sanitary pads decreased this year. Nepal imports pads from Australia, Bangladesh, China, India, Korea, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America and other countries.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18827', 'image' => '20230926042050_1695714812.jpeg', 'article_date' => '2023-09-26 16:20:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19097', 'article_category_id' => '1', 'title' => 'Nepal, China Issue Joint Statement Promising Cooperation in Railway, Connectivity and More', 'sub_title' => '', 'summary' => 'September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China. The joint statement issued on Tuesday states that the Chinese side is ready to help Nepal train railway professionals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The two sides expressed satisfaction over the progress of the feasibility study of the Jilong/Keyrung-Kathmandu Cross-Border Railway, and planned to hold the 8th Working Meeting on China-Nepal Railway Cooperation as early as possible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Acknowledging the signing of the MoU between the Government of Nepal and the Government of the People’s Republic of China on bilateral cooperation under the framework of the Belt and Road Initiative on 12 May 2017, both the countries expressed their commitment to accelerate the consultations to finalize the text on the BRI Implementation Plan at an early date. They expressed readiness to exchange experiences on their development strategies, deepen practical cooperation in such fields as infrastructure connectivity, trade, tourism, production capacity and investment, and further deepen and solidify Belt and Road cooperation to deliver greater benefits to their peoples.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Chinese side also expressed its commitment to extend its support to improve the facilities on the Nepali side of the Lizi-Nechung port at the earliest possible date. The Chinese side agreed to work for the early reopening of eligible traditional China-Nepal border trade points. The two sides also agreed to maintain communication for the opening of Chentang-Kimathanka, Riwu-Olangchungola ports at an early date. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Considering the needs of Nepal, China has agreed to carry out the fourth phase of the Araniko highway maintenance project and to quickly carry out the Syafrubesi-Rasuwagadhi highway maintenance work, mentions the joint statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, China has agreed to speed up the feasibility study of the Tokha-Chhare tunnel project and the second phase of the Kathmandu Ring Road project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In order to transform Nepal from a landlocked country to a land-linked country, both sides have agreed to continue the implementation of the documents signed in the past regarding China's transportation and highway use.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nepal and China welcomed the consensus reached between the civil aviation authorities of the two countries on expanding the air rights arrangements, and expressed satisfaction over the completion and operation of the Pokhara International Airport. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The two sides support and encourage their airlines to resume and open more flights and air routes, including ones connecting Pokhara, in accordance with bilateral air rights arrangements and in light of market needs, so as to facilitate trade and economic interactions and people-to-people exchanges,” reads the statement. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18826', 'image' => '20230926035708_1695708697.collage (1).jpg', 'article_date' => '2023-09-26 15:56:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19098', 'article_category_id' => '1', 'title' => 'Government Waives Fee for Company Registration and Capital Increment', 'sub_title' => '', 'summary' => 'September 26: The government has waived the fee for company registration and capital increment effective from Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 26: The government has waived the fee for company registration and capital increment effective from Monday. This new provision has come into effect after the government published a notice in this regard in the Nepal Gazette.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made such arrangements in line with the announcement made in the budget for the current fiscal year to make company registration free of cost.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice published in the Nepal Gazette by the Ministry of Industry, Commerce and Supplies mentions that the fees that were previously charged during company registration and capital increment have been waived.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"No fee will be charged while registering a private limited company and a public limited company or for increasing the capital of a registered company according to section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Companies Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">," reads the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, arrangements have been made to waive the fee for registration of foreign companies provided that they do not register branch offices and contact office and pledge not to distribute profits.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18825', 'image' => '20230926040950_20230720113533_company registration.jpg', 'article_date' => '2023-09-26 16:09:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19096', 'article_category_id' => '1', 'title' => 'Private Sector not Ready to Accept Government’s Claim that Economic Indicators have Improved', 'sub_title' => 'Industrialists Running Industry not to Make Profit, but to Reduce Losses', 'summary' => 'September 26: Although the festive season is just around the corner, there is no excitement in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: Although the festive season is just around the corner, there is no excitement in the market. The market is still struggling due to the slowdown caused by Covid-19 pandemic. On top of that, the import control policy adopted by the government and the current capital loan guidelines implemented by the central bank have further weakened the market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As the foreign exchange reserves began to decrease, the panicked government adopted a policy of tightening imports. However, this policy could not work effectively. Except for few items that were restricted, all others were easily available in the market through illegal channels, resulting in skyrocketing of prices. As the revenue loss from unauthorized imports increased, the government lifted the ban on imports.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Even this step could not bring the market back to the rhythm. Entrepreneurs say that now the production of industries has fallen to less than a quarter of their full capacity. While the government is claiming that the economic indicators have improved, the private sector is not ready to accept this.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The private sector believes that the market is going into recession. Hari Gautam, senior vice president of Birgunj Industry and Commerce says, “There are no signs of improvement in the market. Positive statistics alone is not enough. The market should feel the impact accordingly.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Currently, the consumption of construction materials, clothes and daily consumables has decreased. Businessmen say that the halt in works of the construction industry has had a ripple effect in demand and production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Industrialists say that the demand for the products of large industries like cement and iron has decreased heavily.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong><span style="font-family:"Arial","sans-serif"">Consumption of medicine also decreased</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to Prabhat Rungta, treasurer of Nepal Pharmaceutical Producers Association, the consumption of even essential medicines has decreased. Businessmen say that the demand for medicines has decreased due to the increase in health awareness since the onset of the Covid-19 pandemic and cheap medicines available in the market and health insurance schemes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rungta said that since the government has been supplying medicines provided under health insurance through global tenders, domestic manufacturers have not been able to compete in the market. Producers estimate that the consumption of domestically-produced medicines has decreased by 25 to 30 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">How to solve?</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The lack of investable funds (liquidity) seen in the banking system is one of the main reasons for the contraction in business of the private sector. Due to the high interest rate, the construction works have stopped and there is lack of new investment. Businessmen say that the overall demand has decreased due to its cyclical effect.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under FNCCI, suggests that the government should increase its public spending capacity to make the market vibrant. Gupta says, “If the government fails to cut unnecessary expenses and increase capital expenditure, there may be a serious economic crisis. The government has not been serious about it yet,”</span> said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The business community believes that if investment is increased in the market to create demand, the economy will return to normalcy. Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI, says that the provision of current capital loan guidelines should be suspended for now and the market should be made operational.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Businessmen say that a long-term solution to the lack of liquidity should be sought. Senior Vice President Gautam says, “There should be a clear policy arrangement to keep the interest rate under control.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18824', 'image' => '20230926021413_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-09-26 14:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19095', 'article_category_id' => '1', 'title' => 'Indra Jatra Begins Today with the Setting up of Wooden Pole', 'sub_title' => '', 'summary' => 'September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The eight-day festival, having religious and cultural significance, is observed with much fanfare especially among the Newar communities in the Kathmandu Valley. It is also marked in districts such as Kavrepalanchowk and Dolakha. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indra Jatra, the main day of the festival, falls on the Bhadra Shukla Chathurdashi, the fourth day of the waxing moon in the month of Bhadra as per the lunar calendar. September 28 is the main day of the festival this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It begins from Bhadra Shukla Dwadashi and on that day a towering wooden pole (lingo) signifying the Lord of Rain-Indra- is installed in every town of Bhaktapur city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the tradition, erecting a lingo (a wooden pole) began at 10:37 am on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the festival, the wooden pole is brought from Bhaktapur to Kathmandu and installed on the chariot at Hanumandhoka in Basatapur Durbar Square. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of ceremonies are organized during the eight-day festival including Lakhe naach and Pulu Kisi procession. The chariot procession, a major part of the festival, involves pulling of a big chariot of the living Goddess Kumari and two smaller chariots of Lord Ganesh and Lord Bhairab along the thoroughfares of the city. It will take place on September 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the tradition, the Head of State visits and worships the living Goddess Kumari, Ganesh and Bhairav during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cultural expert and historian Prof Dr Purusottam Lochan Shrestha shared that although the Indra Jatra has been celebrated since Dwapar era (during the time of Mahabharata), King Jagat Prakash Malla of Bhaktapur in the 17th century collected Vedic scriptures and other holy texts such as the Puranas and imitated scenes based on the stories narrated in those scriptures and brought the culture and tradition of festivities. Historian Shrestha added that the festival is celebrated with the aim of maintain peace and order, fostering prosperity and to ward off natural calamities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that the locals believe that observing the festival will also prevent famine, epidemic, excessive rains and eradicate enmity among people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Kathmandu Metropolitan City (KMC), with the aim of promoting the dignity of Indra Jatra at the international level, has invited guests from various municipalities of foreign countries with which it has established sister relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC shared in a press meet on Monday that as many as 22 guests from the USA and China will visit Nepal to partake in the celebration of Indra Jatra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival will come to an end on October 2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18823', 'image' => '20230926112431_20220909091416_20180920035728_indra jatra.jpg', 'article_date' => '2023-09-26 11:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19093', 'article_category_id' => '1', 'title' => 'China Leads 19th Asian Games, Nepal Nil', 'sub_title' => '', 'summary' => 'September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China. But, Nepal is still unable to secure any medal till now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 45 countries participating in the Games, players from 25 countries have bagged medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Monday, China bagged 39 gold medals, 21 silver and nine bronze medals to top the medals tally. Similarly, South Korea is a distant second with 10 gold and silver medals each and 13 bronze medals, followed by Japan in the third position with five gold, 14 silver and 14 bronze medals, while Uzbekistan is trailing in the fourth position with four gold, six silver and bronze medals each. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance off the mark </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance in the ongoing Asian Games is off the mark. The players have disappointed the sports revelers. All Nepali players were defeated in tennis on Monday. Nepal lost in all four competitions. Pradip Khadka who won the first round match under men’s singles category lost to a Japanese player in straight sets in the second round. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Abhisek Bastola under men’s singles category was defeated by a Hong Kong player. The group of Avilasha Bista and Mahima Rana lost to South Korean team in women’s doubles. In the mixed doubles, Abhisek Bastola and Avilasha Bista lost to an Indonesian team. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal also lost in fencing, rugby, cycling, basketball, taekwondo, judo, and swimming. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Rabin Thapa who defeated an Indonesian player in 51-kg category in boxing 4-1 is playing with Korean players in the pre-quarter final. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18822', 'image' => '20230926105642_XxjpseE009233_20230925_PEPFN1A001 - Copy.JPG', 'article_date' => '2023-09-26 10:56:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian Games. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They bludgeoned 314-3 in their 20 overs in Hangzhou, beating the previous highest of 278-3 by Afghanistan against Ireland in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla, batting number three, led the way by crashing the fastest T20 international century, off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla beat the previous quickest, by South African David Miller in 35 balls against Bangladesh in 2017, and went on to finish on 137 not out off just 50 balls. He smacked 12 sixes and eight fours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's batsmen were rampant on a sunny morning at the Zhejiang University for Technology Pingfeng Cricket Field, captain Rohit Paudel creaming 61 off 27 balls with six sixes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But it was Dipendra Singh Airee who finished the innings in ridiculous fashion against the hapless Mongolian bowlers, hitting a scarcely believable eight sixes in an unbeaten 52 off 10 balls. He reached his fifty off nine balls, another world record, beating India's Yuvraj Singh's 2007 effort against England which took 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's 26 sixes in the innings was also a record, beating Afghanistan's 22 against Ireland. Mongolia, whose women's team were bowled out for just 15 last week in the Asian Games, were dismissed for just 41. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's winning margin of 273 runs was the biggest in terms of runs ever in a T20 international. It beat the Czech Republic's 257-run margin against Turkey in 2019. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18836', 'image' => '20230927064505_Cricket Phot (2).jpg', 'article_date' => '2023-09-27 18:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19107', 'article_category_id' => '1', 'title' => 'NRB under Pressure from Government as Interbank Interest Rate Drops Below the Monetary Policy Target', 'sub_title' => '', 'summary' => 'September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While issuing the monetary policy for the current fiscal year, Nepal Rastra Bank had set a target to maintain the average interbank interest rate higher than the bank rate and lower than the deposit collection rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The upper limit of the interest rate corridor at present is the bank rate of 7.5 percent and the lower limit of the deposit collection rate is 4.5 percent. In order to maintain the interest rate within this limit, there is a provision for the central bank to use various monetary instruments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the interbank interest rate has fallen below the monetary policy target in the last two weeks, the central bank has not mopped excess liquidity from the market. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened. However, since September 13, the interbank interest rate has been consistently lower than the target. Even on Monday, the average interbank interest rate remained at 2.54 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the liquidity in the market increased and the interest rate fell below the target, the central bank collected Rs 20 billion through deposit collection tools on July 13. The deposit has matured on July 20 and has been returned to the market. Similarly, the reverse repo of Rs 20 billion with maturity period of 14 days, which was issued on July 12, also matured on July 26.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, the average interbank interest rate had fallen below 1 percent. Since then, the central bank has not mopped liquidity from the market. Currently, banks and financial institutions have more than Rs 400 billion of liquidity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have not been able to invest new loans due to the slowdown in economic activities. The investment of banks, that are unable to expand credit flow, is now limited to the internal debts of the government.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, the government is raising internal debt aggressively. The central bank has not even implemented the announcement of the monetary policy in order to help the government raise debt at a low cost, according to Rashtra Bank sources. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a representation of the Ministry of Finance in the open market transaction committee," said a director of the Nepal Rastra Bank, "Therefore, rather than implementing monetary policy, the market is being operated in such a way as to support the government."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources claimed that even though the main goal of the central bank is to maintain the interest rate within the limits, even the monetary policy has not been implemented under the pressure of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Taking advantage of the interbank interest rate which is below the target, the government is raising domestic debt at a cheap rate. Only on Monday, the government renewed the treasury bills at an interest rate of 3.441 percent. In July last year, the interest rate of treasury bills had exceeded 12 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, which announced that it will collect domestic debt equal to Rs 240 billion in the current year, started collecting the debt from late July. In the current year, the central bank has already raised Rs 59.21 billion loans for the government through the issuance of development bonds. Similarly, Rs 5 billion has been raised through treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank’s Deputy Spokesperson Dr Dilliram Pokharel says that the central bank did not mop liquidity from the market because current interbank interest rate is of short-term. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The inter-bank interest rate has fallen below the target after the government allowed the accumulated amount of the local level to be counted as deposits," he said, "Monetary instruments have not been issued because the liquidity is high and there is no long-term interest rate reduction." </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18835', 'image' => '20230927031503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-27 15:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19106', 'article_category_id' => '1', 'title' => '‘Cities of Nepal have Turned into Dumping Sites for Low-Quality Foreign Goods’', 'sub_title' => '', 'summary' => 'September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a conversation with New Business Age, Thapa said, “Nepal's cities are not financial hubs or production centers, they are just the dumping sites of poor-quality goods from India, China, and beyond. There is neither local nor domestic production here.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Thapa, there should be a linkage between production in villages and consumption in cities, but the consumption of big cities of Nepal have linkage with Indian villages.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government has failed in systematic urbanization while protecting agricultural land and the policy of land classification has failed. He concluded that the government is to blame for this.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The government made a plan and started classifying land, but the work did not go according to the plan. It was entrusted to the local level, they did not understand its importance," said Thapa, "The goal was to prevent fragmentation of the arable land. However, most of the local levels classified the agricultural land as residential land.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that Nepali politicians do not understand that food security is also related to the country’s sovereignty. "No matter how strong the country is in other areas, if there is no food security and if the country is dependent on food, it cannot be considered a sovereign country," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the main reason for this is that the value of residential land is higher than that of agriculture, and there is a compulsion to take loans from the government and financial institutions to acquire such high-value land. He thinks that the government's policy has failed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa argues that industrialization in other countries took place through agriculture and urbanization, but in Nepal, urbanization went directly from agriculture to disorganization. Looking at the global environment, 54 percent of the population lives in cities. However, our settlements have turned into unorganised urbanization because the government did not give proper instructions, argues Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the government report says that 66 percent of the population lives in cities, that figure is wrong, argues Thapa. He says that this figure is only for those who live within the declared urban area, but the population living in the actual city is only 25 to 30 percent. He said that the cities of Nepal were built by the private sector and not by the government, and the cities that were built at the individual level were tailored to their small needs. According to Thapa, if the government creates policies and infrastructure, the private sector will create residential and commercial areas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He pointed out the need to revise the urban policy formulated in 2064. According to Thapa, the systematic urbanization in each development area and corridor mentioned in the said policy should now be done at the state level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the population, which should be decentralized due to federalism, is more concentrated in the capital in Nepal and the main reasons for this include convenience and employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that wherever big plans are made, there will be an increase in economic activities and gradual urbanization, but in Nepal, it is like a city without a plan. People will be attracted to the city for better opportunities, employment, services and facilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government aims to raise taxes to cover the expenses of political parties and local governments. He said that many rural municipalities were declared as municipalities with the hope that the budget received after declaring them as cities would increase and services and facilities would be provided.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, services and opportunities were not ready even when the agriculture-based lifestyle was displaced in the hill areas. Settlements increased in the Terai due to lack of opportunities and means of survival in the hill areas. Thapa said that this has led to disaster.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the hill population can be stopped from out-bound migration, but for that the government has to come up with a policy. Thapa suggested that besides providing services, the government should build big plans, well-equipped hospitals, quality schools, universities and industries in the hill areas. This will bring employment opportunities and facilities there and the settlement will gradually return. “For this, the government should work by making a policy," he said, "Providing land to private hospitals and schools and giving tax exemptions can be a good start." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa concluded that no one raised such matters because politics is concentrated where there is large population in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized that the local and state governments should work together to manage the city in a strategic manner. Urban poverty is increasing in our cities. If it is not managed in time, there may be rebellion, warned Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There have been many such incidents. The city is not only for the rich, but also for the poor. If the government does not look after them, who will look after them?'' he said, adding, “What has happened in Kathmandu is wrong. Management is not restriction.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggested that the citizens should also be aware and cooperate with the government. He added, "While talking about rights, civic duty should not be forgotten.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to a study, 70 percent of the world's carbon emissions come from urban areas. Also, 58 percent of the emission is done by the construction sector. According to Thapa, transportation is the second major cause of carbon emission followed by industries. Referring to the fact that Bhutan has started calling itself 'carbon neutral', he said that we can become neutral in carbon emissions by 2045 if we go ahead with the plan now. He suggested that we should make the best use of our own forest for this. Thapa said it was wrong to say that the environment is damaged by cutting trees. He was of the view that old trees should be cut down while planting new ones.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He connected the Kagbeni flood and the inundation in Kathmandu with the climate change that was discussed among scientists a few years ago. However, he complains that this issue has not been raised in the forum of political parties. According to him, this is a topic that should be discussed at each and every home.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18834', 'image' => '20230927024211_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-09-27 14:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19105', 'article_category_id' => '1', 'title' => 'Nepal Thrashes Mongolia in 19th Asian Games as Cricket Records Tumble', 'sub_title' => '', 'summary' => 'September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated Magnolia by 273 runs in the match held at Zhejiang University of Technology’s Pingfeng cricket ground in China. This is so far the biggest-margin win in the men's cricket history of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Invited to bat first after losing the toss, Nepal scored 314 runs at the loss of three wickets in the allotted 20 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing the mammoth target, Mongolia was all-out for just 41 runs in 13.1 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's bowlers, Karan KC, Avinas Bohora and Sandeep Lamichhane took two wickets each and Sompal Kami, Kushal Bhurtel and Deependra Singh Airi sent one player each to the pavilion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, Nepali batsmen Kushal Bhurtel and Deependra Singh Airi made record runs. A Kushal Malla set a new record by smashing a maiden century off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He broke the fastest-century records of David Miller (South Africa), Sudesh Bikramashekhar (Czech Republic) and Rohit Sharma (India). All three batsmen had a record of smashing century off 35 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Deependra Singh Airi made another world record by smashing half a century in nine balls. Earlier, there was a world record in the name of Indian batsman Yubraj Singh who stroke half century off 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla was unbeaten on 137 runs off 50 balls while Airi hit 52 runs off 10 balls to steer Nepal to the record win. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla stoke 12 sixes and eight fours. Likewise, Captain Rohit Kumar Poudel made 61 runs off 27 balls, Kushal Bhurtel 19 off 23 balls and Sheikh 16 runs off 17 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will play next match against the Maldives. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18833', 'image' => '20230927014907_cric.jpg', 'article_date' => '2023-09-27 13:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19104', 'article_category_id' => '1', 'title' => 'SEBON Tightens the Noose on IPO Issuance of Hydropower Companies', 'sub_title' => '', 'summary' => 'September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. After a discussion between SEBON and the officials of Independent Power Producers Association, Nepal (IPPAN), a new arrangement has been decided regarding the securities of hydropower sector companies, SEBON sources informed New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the information provided by SEBON spokesperson Mukti Shrestha, a new system is going to be implemented regarding the transactions after the lock-in period of the initial public offering (IPO), rights shares and promoter shares of the hydropower company. According to him, the new system will not apply to companies that are currently in the process of IPO and rights share issuance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that SEBON is going to add some new provisions to make the securities transactions of hydropower companies transparent due to complaints from the general investors regarding the trading of the promoter shares of the listed hydropower company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the lock-in period, the hydropower companies can issue promoter shares only after starting commercial production of electricity, as per the new regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON said that the hydropower companies must mandatorily publish the information related to the opening of the lock-in period of promoter as well as general shareholders in a national daily newspaper and the company’s website and also provided the information to the SEBON and the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The company can start the share trading only after 15 business days after publishing the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, the number of companies issuing rights shares has increased as the Electricity Regulatory Commission, the regulator of hydropower companies, has allowed the issuance of rights shares to pay the loans taken by hydropower companies for the construction of the projects. Most of them are preparing to issue rights shares for loan repayment purposes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18832', 'image' => '20230927125148_hydro.jpg', 'article_date' => '2023-09-27 12:50:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19103', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Requests AIIB for Subsidized Financial Assistance ', 'sub_title' => '', 'summary' => 'September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Mahat made the appeal during the 8th annual meeting of the Asian Infrastructure Investment Bank (AIIB) held in Sharm El-Sheikh, Egypt. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, he further called on all member states to accept Nepal's proposal for placing a separate mechanism in providing subsidized financial aid to the least developed countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Mahat said some of the major challenges that have emerged worldwide include global economic instability, accelerated journey towards Green House Gas emissions, lackluster economic development of low and middle income countries and difficulty in access to financial resources for poverty alleviation to maintain quality life of citizens, RSS further reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The role of multilateral development banks, including AIIB is crucial to avert such crises, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Mahat said the low income countries also needed support for economic recovery and development, employment generation, green infrastructure development, expansion of access to financial instruments, technical and institutional capacity development, climate change-induced disaster management and other social safety nets. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat argued that the existing financial assistance mechanism and instruments are not adequate in the context when huge financial resource needed particularly for the least developed and developing countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, he also urged the AIIB to utilize innovative and creative finances, including public private partnership, green investment and combined finance to avoid the shortage of financial instruments in the countries having weak economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister stressed on the need for the enhancement of climate finance and related facilities for Nepal and other countries that have been facing negative effects of climate change despite negligible role in carbon emission. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister also drew the attention of all participants towards reviewing and determining appropriate carbon trade. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal, a founding member of the AIIB established on the initiative of China, is yet to get any concessional loans from Asian Infrastructure Investment Bank (AIIB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In every annual meeting of AIIB, the finance ministry of Nepal submits proposals for concessional loans from the multilateral donor organisation but the AIIB turns down the proposals every time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As many as 86 countries attended the high-level AIIB meeting that concluded on Tuesday. Finance Minister Dr Mahat is returning home today. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18831', 'image' => '20230927114306_20230924020450_AIIB_20221212_Press-Release_ESS-Communications_1129X620px.jpg', 'article_date' => '2023-09-27 11:42:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19102', 'article_category_id' => '1', 'title' => 'World Tourism Day being Observed Today ', 'sub_title' => '', 'summary' => 'September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board, Department of Tourism and leading organizations of tourism sector are celebrating the day with several activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that the World Tourism Day is being observed in Nepal with the slogan 'Tourism and Green Investment'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to mark the day in a grand manner, the government has formed the 44th World Tourism Day Main Function Committee under the chairmanship of Minister for Tourism Sudan Kiranti. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry Spokesperson Rajendra Kumar KC, the Tourism Minister welcomed foreign tourists who arrived at the Tribhuvan International Airport through the first flight at 6.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a morning procession was held from Patan Dhoka, Lalitpur to Mangalbazaar at 7.30 am today. A formal programme is being organized in Patan Durbar area on the occasion jointly by the Ministry of Tourism and Lalitpur Metropolis. Organizations earning higher foreign currency and individuals and institutions making contributions to the tourism sector will be honoured today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Tourism Day is being marked on September 27 every year with the slogan 'Promoting Accessible Tourism for All'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18830', 'image' => '20230927105651_20180723035031_mangal bazar tourist.jpg', 'article_date' => '2023-09-27 10:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19101', 'article_category_id' => '1', 'title' => 'Festivals-centered Fair Price Shops to Run from October 8', 'sub_title' => '', 'summary' => 'The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 27: The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The outlets are expected to control unwanted price rise, maintain market quality and ensure the smooth supplies of food at reasonable rates during festivals.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government each year operates the fair price shops to prevent the monopoly of private sector in the market during festivals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Food Management and Trade Company Limited (FMTCL) and Salt Trading Corporation under the Ministry of Industry, Commerce and Supplies and Dairy Development Corporation under the Ministry of Agriculture and Livestock Development will collaborate to operate these shops. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Different varieties of rice, pulses, wheat flour, edible oil and beaten rice will be available in such outlets at relatively lower prices than in the regular market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, discount of Rs 10 has been offered in per kg beans and other grains produced in Karnali and live goats, and mountain goats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government has allocated Rs 23.22 million for Food Management and Trade Company to run fair price shops this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the government has allocated Rs 10 million to provide discount on food stuffs to be sold through Salt Trading Corporation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Salt Trading Corporation will sell sugar at Rs 97 per kg while it will provide Rs 2 discount on per kg salt and Rs 7 in per kg beaten rice.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Dairy Development Corporation will provide Rs 20 discount on per kg ghee and Rs 20 on per 200 gram paneer and Rs 50 on per 500 gram paneer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stalls will be put in 35 places including eight selling centre and three mobile shops of Food Management and Trade Company and Salt Trading Corporation located in Kathmandu Valley.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Besides this, the FMTCL will run fair-price shops in Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Kathmandu, Lalitpur, Bhaktapur, Kaski, Tanahun, Gorkha, Manang, Mustang, Rupandehi, Banke, Dang, Bardiya, Rukum East and Rukum West.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, FMTCL will have concessional stocks at 48 places of 42 districts, including Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Mahendranagar. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Such fair-price shops can also be operated in additional districts and places as per the need, the Ministry stated. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fixed discount can be accessed through free online home delivery, mobile service, cooperatives and dealers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A monitoring committee has also been formed to check whether the operated fair-price shops are effective or not. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Ministry, market monitoring would be further intensified throughout the festival period. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the case of Kathmandu Valley, the Ministry will form the team and carry out monitoring throughout the period the fair-price shops are operated. The corporations concerned shall also do the same. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Commerce, Supplies Management and Consumer Protection will also form additional team other than the regular monitoring and intensify the monitoring. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In case of other districts, the monitoring teams shall be constituted under the convenorship of the Chief District Officer or the Assistant Chief District Officer for carrying out a thorough monitoring, according to the Ministry. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18829', 'image' => '20230927055429_collage (6).jpg', 'article_date' => '2023-09-27 05:51:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19100', 'article_category_id' => '1', 'title' => 'Haughey Fires Paris Olympic Warning as China Tops Medal Tally', 'sub_title' => '', 'summary' => 'September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, audiences of overwhelmingly young spectators packed out the 4,500-capacity Hangzhou Esports Center in the hope of catching one of their heroes, especially South Korea's Lee "Faker" Sang-hyeok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Medals are up for grabs in seven gaming titles, with China grabbing the first gold when they defeated Malaysia in the final of smartphone game Arena of Valor. Malaysia took home silver and Thailand bronze.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the French news agency, China's place in the Games record books helped the home nation increase their overall tally of golds to 53 at the end of three days of action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They are way ahead of South Korea (14 golds), Japan (eight) and Uzbekistan and Hong Kong (both five).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey fires warning</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the 2024 Paris Olympics just 10 months away, Haughey won her second gold of the Games in another impressive performance in the pool which will make her rivals sit up and take notice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She shattered her own Asian record to add the Games 100m freestyle title to her Olympic and world silver medals, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The 25-year-old produced an exceptional swim on Monday to crush the pack by nearly two seconds and take out the 200m crown, smashing an Asian Games record that had stood since 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She was fired up again over the shorter distance in blasting a 52.17sec to send a warning to Australian freestylers Mollie O'Callaghan and Emma McKeon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey previously set an Asian record of 52.27 when she came second to McKeon at the Tokyo Olympics. Only world champion O'Callaghan has gone faster in 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, China again bossed the Hangzhou pool, taking four of the six golds on the night. The other went to Tomoru Honda, who stunned exhausted Japanese team-mate Daiya Seto in the 400m medley.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China rack up more golds</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On another day of dominance, China's all-powerful table tennis squad swept past rivals Japan 3-0 in the women's team final. They also claimed men's team gold over South Korea by the same scoreline.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In artistic gymnastics, Zhang Boheng won gold in the men's all-around final.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But China were dethroned by Japan in the men's team sprint at the Chun'an Jieshou Sports Centre Velodrome on the first day of action on the cycling track.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's women made no mistake in their team sprint final, beating South Korea to the title.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18828', 'image' => '20230926093931_976372-01-02.jpg', 'article_date' => '2023-09-26 21:38:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19099', 'article_category_id' => '1', 'title' => 'Sanitary Pad Industry Shutting Down', 'sub_title' => '', 'summary' => 'September 26: The export of sanitary pads from Nepal has increased by 582 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: The export of sanitary pads from Nepal has increased by 582 percent. Despite this encouraging trend, businessmen say that the industries that produce sanitary pads are shutting down in the country one after another. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Nepal Sanitary Pad Manufacturers Association, 42 percent of the pad manufacturing companies operating in Nepal have shut their factories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, Nepal exported 22.24 million sanitary pads worth Rs 56.88 million in just two months of the current fiscal year. In the same period last year, Nepal exported 2.78 million sanitary pads worth Rs 8.4 million.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sanitary pads are exported from Nepal to the United States of America and India. According to the Department of Customs, pads were exported mostly to India in the current year. In the last two months, 22 million pads worth Rs 56.87 million were exported to India alone. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dolraj Adhikari, president of the Nepal Sanitary Pad Manufacturers Association, says that despite the increase in exports, pad industries are shutting down. According to him, out of 35 industries operating in Nepal, about 15 have been closed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“The pad industry is in trouble now mainly due to the economic recession and also because it does not fall in the priority list of the government. Therefore, to encourage the pad industry and to be completely self-sufficient in pads, it is necessary to change the difference between the customs duty on the import of ready-made goods and raw materials to of 10 percent, which is 2 percent at present.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, in the two months of this year, Nepal imported 29.1 million sanitary pads worth Rs 186.8 million from abroad, according to the data of the Department of Customs. Last year, during the same period, 31.7 million sanitary pads worth Rs 245.2 million were imported.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Compared to last year, the import of sanitary pads decreased this year. Nepal imports pads from Australia, Bangladesh, China, India, Korea, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America and other countries.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18827', 'image' => '20230926042050_1695714812.jpeg', 'article_date' => '2023-09-26 16:20:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19097', 'article_category_id' => '1', 'title' => 'Nepal, China Issue Joint Statement Promising Cooperation in Railway, Connectivity and More', 'sub_title' => '', 'summary' => 'September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China. The joint statement issued on Tuesday states that the Chinese side is ready to help Nepal train railway professionals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The two sides expressed satisfaction over the progress of the feasibility study of the Jilong/Keyrung-Kathmandu Cross-Border Railway, and planned to hold the 8th Working Meeting on China-Nepal Railway Cooperation as early as possible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Acknowledging the signing of the MoU between the Government of Nepal and the Government of the People’s Republic of China on bilateral cooperation under the framework of the Belt and Road Initiative on 12 May 2017, both the countries expressed their commitment to accelerate the consultations to finalize the text on the BRI Implementation Plan at an early date. They expressed readiness to exchange experiences on their development strategies, deepen practical cooperation in such fields as infrastructure connectivity, trade, tourism, production capacity and investment, and further deepen and solidify Belt and Road cooperation to deliver greater benefits to their peoples.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Chinese side also expressed its commitment to extend its support to improve the facilities on the Nepali side of the Lizi-Nechung port at the earliest possible date. The Chinese side agreed to work for the early reopening of eligible traditional China-Nepal border trade points. The two sides also agreed to maintain communication for the opening of Chentang-Kimathanka, Riwu-Olangchungola ports at an early date. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Considering the needs of Nepal, China has agreed to carry out the fourth phase of the Araniko highway maintenance project and to quickly carry out the Syafrubesi-Rasuwagadhi highway maintenance work, mentions the joint statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, China has agreed to speed up the feasibility study of the Tokha-Chhare tunnel project and the second phase of the Kathmandu Ring Road project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In order to transform Nepal from a landlocked country to a land-linked country, both sides have agreed to continue the implementation of the documents signed in the past regarding China's transportation and highway use.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nepal and China welcomed the consensus reached between the civil aviation authorities of the two countries on expanding the air rights arrangements, and expressed satisfaction over the completion and operation of the Pokhara International Airport. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The two sides support and encourage their airlines to resume and open more flights and air routes, including ones connecting Pokhara, in accordance with bilateral air rights arrangements and in light of market needs, so as to facilitate trade and economic interactions and people-to-people exchanges,” reads the statement. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18826', 'image' => '20230926035708_1695708697.collage (1).jpg', 'article_date' => '2023-09-26 15:56:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19098', 'article_category_id' => '1', 'title' => 'Government Waives Fee for Company Registration and Capital Increment', 'sub_title' => '', 'summary' => 'September 26: The government has waived the fee for company registration and capital increment effective from Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 26: The government has waived the fee for company registration and capital increment effective from Monday. This new provision has come into effect after the government published a notice in this regard in the Nepal Gazette.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made such arrangements in line with the announcement made in the budget for the current fiscal year to make company registration free of cost.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice published in the Nepal Gazette by the Ministry of Industry, Commerce and Supplies mentions that the fees that were previously charged during company registration and capital increment have been waived.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"No fee will be charged while registering a private limited company and a public limited company or for increasing the capital of a registered company according to section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Companies Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">," reads the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, arrangements have been made to waive the fee for registration of foreign companies provided that they do not register branch offices and contact office and pledge not to distribute profits.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18825', 'image' => '20230926040950_20230720113533_company registration.jpg', 'article_date' => '2023-09-26 16:09:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19096', 'article_category_id' => '1', 'title' => 'Private Sector not Ready to Accept Government’s Claim that Economic Indicators have Improved', 'sub_title' => 'Industrialists Running Industry not to Make Profit, but to Reduce Losses', 'summary' => 'September 26: Although the festive season is just around the corner, there is no excitement in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: Although the festive season is just around the corner, there is no excitement in the market. The market is still struggling due to the slowdown caused by Covid-19 pandemic. On top of that, the import control policy adopted by the government and the current capital loan guidelines implemented by the central bank have further weakened the market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As the foreign exchange reserves began to decrease, the panicked government adopted a policy of tightening imports. However, this policy could not work effectively. Except for few items that were restricted, all others were easily available in the market through illegal channels, resulting in skyrocketing of prices. As the revenue loss from unauthorized imports increased, the government lifted the ban on imports.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Even this step could not bring the market back to the rhythm. Entrepreneurs say that now the production of industries has fallen to less than a quarter of their full capacity. While the government is claiming that the economic indicators have improved, the private sector is not ready to accept this.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The private sector believes that the market is going into recession. Hari Gautam, senior vice president of Birgunj Industry and Commerce says, “There are no signs of improvement in the market. Positive statistics alone is not enough. The market should feel the impact accordingly.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Currently, the consumption of construction materials, clothes and daily consumables has decreased. Businessmen say that the halt in works of the construction industry has had a ripple effect in demand and production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Industrialists say that the demand for the products of large industries like cement and iron has decreased heavily.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong><span style="font-family:"Arial","sans-serif"">Consumption of medicine also decreased</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to Prabhat Rungta, treasurer of Nepal Pharmaceutical Producers Association, the consumption of even essential medicines has decreased. Businessmen say that the demand for medicines has decreased due to the increase in health awareness since the onset of the Covid-19 pandemic and cheap medicines available in the market and health insurance schemes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rungta said that since the government has been supplying medicines provided under health insurance through global tenders, domestic manufacturers have not been able to compete in the market. Producers estimate that the consumption of domestically-produced medicines has decreased by 25 to 30 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">How to solve?</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The lack of investable funds (liquidity) seen in the banking system is one of the main reasons for the contraction in business of the private sector. Due to the high interest rate, the construction works have stopped and there is lack of new investment. Businessmen say that the overall demand has decreased due to its cyclical effect.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under FNCCI, suggests that the government should increase its public spending capacity to make the market vibrant. Gupta says, “If the government fails to cut unnecessary expenses and increase capital expenditure, there may be a serious economic crisis. The government has not been serious about it yet,”</span> said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The business community believes that if investment is increased in the market to create demand, the economy will return to normalcy. Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI, says that the provision of current capital loan guidelines should be suspended for now and the market should be made operational.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Businessmen say that a long-term solution to the lack of liquidity should be sought. Senior Vice President Gautam says, “There should be a clear policy arrangement to keep the interest rate under control.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18824', 'image' => '20230926021413_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-09-26 14:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19095', 'article_category_id' => '1', 'title' => 'Indra Jatra Begins Today with the Setting up of Wooden Pole', 'sub_title' => '', 'summary' => 'September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The eight-day festival, having religious and cultural significance, is observed with much fanfare especially among the Newar communities in the Kathmandu Valley. It is also marked in districts such as Kavrepalanchowk and Dolakha. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indra Jatra, the main day of the festival, falls on the Bhadra Shukla Chathurdashi, the fourth day of the waxing moon in the month of Bhadra as per the lunar calendar. September 28 is the main day of the festival this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It begins from Bhadra Shukla Dwadashi and on that day a towering wooden pole (lingo) signifying the Lord of Rain-Indra- is installed in every town of Bhaktapur city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the tradition, erecting a lingo (a wooden pole) began at 10:37 am on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the festival, the wooden pole is brought from Bhaktapur to Kathmandu and installed on the chariot at Hanumandhoka in Basatapur Durbar Square. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of ceremonies are organized during the eight-day festival including Lakhe naach and Pulu Kisi procession. The chariot procession, a major part of the festival, involves pulling of a big chariot of the living Goddess Kumari and two smaller chariots of Lord Ganesh and Lord Bhairab along the thoroughfares of the city. It will take place on September 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the tradition, the Head of State visits and worships the living Goddess Kumari, Ganesh and Bhairav during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cultural expert and historian Prof Dr Purusottam Lochan Shrestha shared that although the Indra Jatra has been celebrated since Dwapar era (during the time of Mahabharata), King Jagat Prakash Malla of Bhaktapur in the 17th century collected Vedic scriptures and other holy texts such as the Puranas and imitated scenes based on the stories narrated in those scriptures and brought the culture and tradition of festivities. Historian Shrestha added that the festival is celebrated with the aim of maintain peace and order, fostering prosperity and to ward off natural calamities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that the locals believe that observing the festival will also prevent famine, epidemic, excessive rains and eradicate enmity among people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Kathmandu Metropolitan City (KMC), with the aim of promoting the dignity of Indra Jatra at the international level, has invited guests from various municipalities of foreign countries with which it has established sister relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC shared in a press meet on Monday that as many as 22 guests from the USA and China will visit Nepal to partake in the celebration of Indra Jatra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival will come to an end on October 2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18823', 'image' => '20230926112431_20220909091416_20180920035728_indra jatra.jpg', 'article_date' => '2023-09-26 11:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19093', 'article_category_id' => '1', 'title' => 'China Leads 19th Asian Games, Nepal Nil', 'sub_title' => '', 'summary' => 'September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China. But, Nepal is still unable to secure any medal till now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 45 countries participating in the Games, players from 25 countries have bagged medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Monday, China bagged 39 gold medals, 21 silver and nine bronze medals to top the medals tally. Similarly, South Korea is a distant second with 10 gold and silver medals each and 13 bronze medals, followed by Japan in the third position with five gold, 14 silver and 14 bronze medals, while Uzbekistan is trailing in the fourth position with four gold, six silver and bronze medals each. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance off the mark </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance in the ongoing Asian Games is off the mark. The players have disappointed the sports revelers. All Nepali players were defeated in tennis on Monday. Nepal lost in all four competitions. Pradip Khadka who won the first round match under men’s singles category lost to a Japanese player in straight sets in the second round. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Abhisek Bastola under men’s singles category was defeated by a Hong Kong player. The group of Avilasha Bista and Mahima Rana lost to South Korean team in women’s doubles. In the mixed doubles, Abhisek Bastola and Avilasha Bista lost to an Indonesian team. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal also lost in fencing, rugby, cycling, basketball, taekwondo, judo, and swimming. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Rabin Thapa who defeated an Indonesian player in 51-kg category in boxing 4-1 is playing with Korean players in the pre-quarter final. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18822', 'image' => '20230926105642_XxjpseE009233_20230925_PEPFN1A001 - Copy.JPG', 'article_date' => '2023-09-26 10:56:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal became the first men's team in history to score more than 300 runs in T20 international cricket on Wednesday as they rewrote the record books against Mongolia at the Asian Games. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They bludgeoned 314-3 in their 20 overs in Hangzhou, beating the previous highest of 278-3 by Afghanistan against Ireland in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla, batting number three, led the way by crashing the fastest T20 international century, off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla beat the previous quickest, by South African David Miller in 35 balls against Bangladesh in 2017, and went on to finish on 137 not out off just 50 balls. He smacked 12 sixes and eight fours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's batsmen were rampant on a sunny morning at the Zhejiang University for Technology Pingfeng Cricket Field, captain Rohit Paudel creaming 61 off 27 balls with six sixes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But it was Dipendra Singh Airee who finished the innings in ridiculous fashion against the hapless Mongolian bowlers, hitting a scarcely believable eight sixes in an unbeaten 52 off 10 balls. He reached his fifty off nine balls, another world record, beating India's Yuvraj Singh's 2007 effort against England which took 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's 26 sixes in the innings was also a record, beating Afghanistan's 22 against Ireland. Mongolia, whose women's team were bowled out for just 15 last week in the Asian Games, were dismissed for just 41. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's winning margin of 273 runs was the biggest in terms of runs ever in a T20 international. It beat the Czech Republic's 257-run margin against Turkey in 2019. – AFP/RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18836', 'image' => '20230927064505_Cricket Phot (2).jpg', 'article_date' => '2023-09-27 18:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19107', 'article_category_id' => '1', 'title' => 'NRB under Pressure from Government as Interbank Interest Rate Drops Below the Monetary Policy Target', 'sub_title' => '', 'summary' => 'September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Amid criticism that the Nepal Rastra Bank has not been supportive in making the economy vibrant, it has been found that the central bank has fixed the inter-bank rate lower than the target set in the monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While issuing the monetary policy for the current fiscal year, Nepal Rastra Bank had set a target to maintain the average interbank interest rate higher than the bank rate and lower than the deposit collection rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The upper limit of the interest rate corridor at present is the bank rate of 7.5 percent and the lower limit of the deposit collection rate is 4.5 percent. In order to maintain the interest rate within this limit, there is a provision for the central bank to use various monetary instruments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the interbank interest rate has fallen below the monetary policy target in the last two weeks, the central bank has not mopped excess liquidity from the market. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened. However, since September 13, the interbank interest rate has been consistently lower than the target. Even on Monday, the average interbank interest rate remained at 2.54 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the liquidity in the market increased and the interest rate fell below the target, the central bank collected Rs 20 billion through deposit collection tools on July 13. The deposit has matured on July 20 and has been returned to the market. Similarly, the reverse repo of Rs 20 billion with maturity period of 14 days, which was issued on July 12, also matured on July 26.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, the average interbank interest rate had fallen below 1 percent. Since then, the central bank has not mopped liquidity from the market. Currently, banks and financial institutions have more than Rs 400 billion of liquidity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have not been able to invest new loans due to the slowdown in economic activities. The investment of banks, that are unable to expand credit flow, is now limited to the internal debts of the government.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, the government is raising internal debt aggressively. The central bank has not even implemented the announcement of the monetary policy in order to help the government raise debt at a low cost, according to Rashtra Bank sources. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a representation of the Ministry of Finance in the open market transaction committee," said a director of the Nepal Rastra Bank, "Therefore, rather than implementing monetary policy, the market is being operated in such a way as to support the government."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources claimed that even though the main goal of the central bank is to maintain the interest rate within the limits, even the monetary policy has not been implemented under the pressure of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Taking advantage of the interbank interest rate which is below the target, the government is raising domestic debt at a cheap rate. Only on Monday, the government renewed the treasury bills at an interest rate of 3.441 percent. In July last year, the interest rate of treasury bills had exceeded 12 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, which announced that it will collect domestic debt equal to Rs 240 billion in the current year, started collecting the debt from late July. In the current year, the central bank has already raised Rs 59.21 billion loans for the government through the issuance of development bonds. Similarly, Rs 5 billion has been raised through treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank’s Deputy Spokesperson Dr Dilliram Pokharel says that the central bank did not mop liquidity from the market because current interbank interest rate is of short-term. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The inter-bank interest rate has fallen below the target after the government allowed the accumulated amount of the local level to be counted as deposits," he said, "Monetary instruments have not been issued because the liquidity is high and there is no long-term interest rate reduction." </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18835', 'image' => '20230927031503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-27 15:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19106', 'article_category_id' => '1', 'title' => '‘Cities of Nepal have Turned into Dumping Sites for Low-Quality Foreign Goods’', 'sub_title' => '', 'summary' => 'September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: Kishore Thapa, an urban development expert and former government secretary, has said that Nepal's cities have turned into a dumping ground for low-quality goods produced in India, China and other countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a conversation with New Business Age, Thapa said, “Nepal's cities are not financial hubs or production centers, they are just the dumping sites of poor-quality goods from India, China, and beyond. There is neither local nor domestic production here.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Thapa, there should be a linkage between production in villages and consumption in cities, but the consumption of big cities of Nepal have linkage with Indian villages.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government has failed in systematic urbanization while protecting agricultural land and the policy of land classification has failed. He concluded that the government is to blame for this.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The government made a plan and started classifying land, but the work did not go according to the plan. It was entrusted to the local level, they did not understand its importance," said Thapa, "The goal was to prevent fragmentation of the arable land. However, most of the local levels classified the agricultural land as residential land.''</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that Nepali politicians do not understand that food security is also related to the country’s sovereignty. "No matter how strong the country is in other areas, if there is no food security and if the country is dependent on food, it cannot be considered a sovereign country," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the main reason for this is that the value of residential land is higher than that of agriculture, and there is a compulsion to take loans from the government and financial institutions to acquire such high-value land. He thinks that the government's policy has failed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa argues that industrialization in other countries took place through agriculture and urbanization, but in Nepal, urbanization went directly from agriculture to disorganization. Looking at the global environment, 54 percent of the population lives in cities. However, our settlements have turned into unorganised urbanization because the government did not give proper instructions, argues Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the government report says that 66 percent of the population lives in cities, that figure is wrong, argues Thapa. He says that this figure is only for those who live within the declared urban area, but the population living in the actual city is only 25 to 30 percent. He said that the cities of Nepal were built by the private sector and not by the government, and the cities that were built at the individual level were tailored to their small needs. According to Thapa, if the government creates policies and infrastructure, the private sector will create residential and commercial areas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He pointed out the need to revise the urban policy formulated in 2064. According to Thapa, the systematic urbanization in each development area and corridor mentioned in the said policy should now be done at the state level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the population, which should be decentralized due to federalism, is more concentrated in the capital in Nepal and the main reasons for this include convenience and employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that wherever big plans are made, there will be an increase in economic activities and gradual urbanization, but in Nepal, it is like a city without a plan. People will be attracted to the city for better opportunities, employment, services and facilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government aims to raise taxes to cover the expenses of political parties and local governments. He said that many rural municipalities were declared as municipalities with the hope that the budget received after declaring them as cities would increase and services and facilities would be provided.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, services and opportunities were not ready even when the agriculture-based lifestyle was displaced in the hill areas. Settlements increased in the Terai due to lack of opportunities and means of survival in the hill areas. Thapa said that this has led to disaster.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the hill population can be stopped from out-bound migration, but for that the government has to come up with a policy. Thapa suggested that besides providing services, the government should build big plans, well-equipped hospitals, quality schools, universities and industries in the hill areas. This will bring employment opportunities and facilities there and the settlement will gradually return. “For this, the government should work by making a policy," he said, "Providing land to private hospitals and schools and giving tax exemptions can be a good start." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa concluded that no one raised such matters because politics is concentrated where there is large population in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized that the local and state governments should work together to manage the city in a strategic manner. Urban poverty is increasing in our cities. If it is not managed in time, there may be rebellion, warned Thapa. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There have been many such incidents. The city is not only for the rich, but also for the poor. If the government does not look after them, who will look after them?'' he said, adding, “What has happened in Kathmandu is wrong. Management is not restriction.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggested that the citizens should also be aware and cooperate with the government. He added, "While talking about rights, civic duty should not be forgotten.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to a study, 70 percent of the world's carbon emissions come from urban areas. Also, 58 percent of the emission is done by the construction sector. According to Thapa, transportation is the second major cause of carbon emission followed by industries. Referring to the fact that Bhutan has started calling itself 'carbon neutral', he said that we can become neutral in carbon emissions by 2045 if we go ahead with the plan now. He suggested that we should make the best use of our own forest for this. Thapa said it was wrong to say that the environment is damaged by cutting trees. He was of the view that old trees should be cut down while planting new ones.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He connected the Kagbeni flood and the inundation in Kathmandu with the climate change that was discussed among scientists a few years ago. However, he complains that this issue has not been raised in the forum of political parties. According to him, this is a topic that should be discussed at each and every home.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18834', 'image' => '20230927024211_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-09-27 14:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19105', 'article_category_id' => '1', 'title' => 'Nepal Thrashes Mongolia in 19th Asian Games as Cricket Records Tumble', 'sub_title' => '', 'summary' => 'September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: Nepal registered a record win against Mongolia in its first match in men's cricket tournament under the 19th Asian Games on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated Magnolia by 273 runs in the match held at Zhejiang University of Technology’s Pingfeng cricket ground in China. This is so far the biggest-margin win in the men's cricket history of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Invited to bat first after losing the toss, Nepal scored 314 runs at the loss of three wickets in the allotted 20 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing the mammoth target, Mongolia was all-out for just 41 runs in 13.1 overs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's bowlers, Karan KC, Avinas Bohora and Sandeep Lamichhane took two wickets each and Sompal Kami, Kushal Bhurtel and Deependra Singh Airi sent one player each to the pavilion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, Nepali batsmen Kushal Bhurtel and Deependra Singh Airi made record runs. A Kushal Malla set a new record by smashing a maiden century off 34 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He broke the fastest-century records of David Miller (South Africa), Sudesh Bikramashekhar (Czech Republic) and Rohit Sharma (India). All three batsmen had a record of smashing century off 35 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Deependra Singh Airi made another world record by smashing half a century in nine balls. Earlier, there was a world record in the name of Indian batsman Yubraj Singh who stroke half century off 12 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kushal Malla was unbeaten on 137 runs off 50 balls while Airi hit 52 runs off 10 balls to steer Nepal to the record win. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malla stoke 12 sixes and eight fours. Likewise, Captain Rohit Kumar Poudel made 61 runs off 27 balls, Kushal Bhurtel 19 off 23 balls and Sheikh 16 runs off 17 balls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will play next match against the Maldives. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18833', 'image' => '20230927014907_cric.jpg', 'article_date' => '2023-09-27 13:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19104', 'article_category_id' => '1', 'title' => 'SEBON Tightens the Noose on IPO Issuance of Hydropower Companies', 'sub_title' => '', 'summary' => 'September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 27: The Securities Board of Nepal (SEBON) is preparing to implement new regulations regarding the share issuance and trading of hydropower companies. After a discussion between SEBON and the officials of Independent Power Producers Association, Nepal (IPPAN), a new arrangement has been decided regarding the securities of hydropower sector companies, SEBON sources informed New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the information provided by SEBON spokesperson Mukti Shrestha, a new system is going to be implemented regarding the transactions after the lock-in period of the initial public offering (IPO), rights shares and promoter shares of the hydropower company. According to him, the new system will not apply to companies that are currently in the process of IPO and rights share issuance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that SEBON is going to add some new provisions to make the securities transactions of hydropower companies transparent due to complaints from the general investors regarding the trading of the promoter shares of the listed hydropower company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the lock-in period, the hydropower companies can issue promoter shares only after starting commercial production of electricity, as per the new regulations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">SEBON said that the hydropower companies must mandatorily publish the information related to the opening of the lock-in period of promoter as well as general shareholders in a national daily newspaper and the company’s website and also provided the information to the SEBON and the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The company can start the share trading only after 15 business days after publishing the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, the number of companies issuing rights shares has increased as the Electricity Regulatory Commission, the regulator of hydropower companies, has allowed the issuance of rights shares to pay the loans taken by hydropower companies for the construction of the projects. Most of them are preparing to issue rights shares for loan repayment purposes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18832', 'image' => '20230927125148_hydro.jpg', 'article_date' => '2023-09-27 12:50:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19103', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Requests AIIB for Subsidized Financial Assistance ', 'sub_title' => '', 'summary' => 'September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Minister for Finance Dr Prakash Sharan Mahat has urged for concessional financial aid for the development of least developed countries like Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Mahat made the appeal during the 8th annual meeting of the Asian Infrastructure Investment Bank (AIIB) held in Sharm El-Sheikh, Egypt. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, he further called on all member states to accept Nepal's proposal for placing a separate mechanism in providing subsidized financial aid to the least developed countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Mahat said some of the major challenges that have emerged worldwide include global economic instability, accelerated journey towards Green House Gas emissions, lackluster economic development of low and middle income countries and difficulty in access to financial resources for poverty alleviation to maintain quality life of citizens, RSS further reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The role of multilateral development banks, including AIIB is crucial to avert such crises, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Mahat said the low income countries also needed support for economic recovery and development, employment generation, green infrastructure development, expansion of access to financial instruments, technical and institutional capacity development, climate change-induced disaster management and other social safety nets. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat argued that the existing financial assistance mechanism and instruments are not adequate in the context when huge financial resource needed particularly for the least developed and developing countries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, he also urged the AIIB to utilize innovative and creative finances, including public private partnership, green investment and combined finance to avoid the shortage of financial instruments in the countries having weak economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister stressed on the need for the enhancement of climate finance and related facilities for Nepal and other countries that have been facing negative effects of climate change despite negligible role in carbon emission. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister also drew the attention of all participants towards reviewing and determining appropriate carbon trade. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal, a founding member of the AIIB established on the initiative of China, is yet to get any concessional loans from Asian Infrastructure Investment Bank (AIIB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In every annual meeting of AIIB, the finance ministry of Nepal submits proposals for concessional loans from the multilateral donor organisation but the AIIB turns down the proposals every time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As many as 86 countries attended the high-level AIIB meeting that concluded on Tuesday. Finance Minister Dr Mahat is returning home today. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18831', 'image' => '20230927114306_20230924020450_AIIB_20221212_Press-Release_ESS-Communications_1129X620px.jpg', 'article_date' => '2023-09-27 11:42:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19102', 'article_category_id' => '1', 'title' => 'World Tourism Day being Observed Today ', 'sub_title' => '', 'summary' => 'September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 27: The 44th World Tourism Day is being observed in Nepal by organizing various programmes today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board, Department of Tourism and leading organizations of tourism sector are celebrating the day with several activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that the World Tourism Day is being observed in Nepal with the slogan 'Tourism and Green Investment'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to mark the day in a grand manner, the government has formed the 44th World Tourism Day Main Function Committee under the chairmanship of Minister for Tourism Sudan Kiranti. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry Spokesperson Rajendra Kumar KC, the Tourism Minister welcomed foreign tourists who arrived at the Tribhuvan International Airport through the first flight at 6.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a morning procession was held from Patan Dhoka, Lalitpur to Mangalbazaar at 7.30 am today. A formal programme is being organized in Patan Durbar area on the occasion jointly by the Ministry of Tourism and Lalitpur Metropolis. Organizations earning higher foreign currency and individuals and institutions making contributions to the tourism sector will be honoured today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Tourism Day is being marked on September 27 every year with the slogan 'Promoting Accessible Tourism for All'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18830', 'image' => '20230927105651_20180723035031_mangal bazar tourist.jpg', 'article_date' => '2023-09-27 10:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19101', 'article_category_id' => '1', 'title' => 'Festivals-centered Fair Price Shops to Run from October 8', 'sub_title' => '', 'summary' => 'The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 27: The government has decided to launch the fair-price shops in view of the upcoming festivals from October 8 to November 19. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Spokesperson for the Ministry of Industry and Supplies, Gajendra Kumar Thakur, fair-price shops are aimed to serve the interests of consumers during the festive season. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The outlets are expected to control unwanted price rise, maintain market quality and ensure the smooth supplies of food at reasonable rates during festivals.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government each year operates the fair price shops to prevent the monopoly of private sector in the market during festivals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Food Management and Trade Company Limited (FMTCL) and Salt Trading Corporation under the Ministry of Industry, Commerce and Supplies and Dairy Development Corporation under the Ministry of Agriculture and Livestock Development will collaborate to operate these shops. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Different varieties of rice, pulses, wheat flour, edible oil and beaten rice will be available in such outlets at relatively lower prices than in the regular market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, discount of Rs 10 has been offered in per kg beans and other grains produced in Karnali and live goats, and mountain goats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government has allocated Rs 23.22 million for Food Management and Trade Company to run fair price shops this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the government has allocated Rs 10 million to provide discount on food stuffs to be sold through Salt Trading Corporation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Salt Trading Corporation will sell sugar at Rs 97 per kg while it will provide Rs 2 discount on per kg salt and Rs 7 in per kg beaten rice.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Dairy Development Corporation will provide Rs 20 discount on per kg ghee and Rs 20 on per 200 gram paneer and Rs 50 on per 500 gram paneer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stalls will be put in 35 places including eight selling centre and three mobile shops of Food Management and Trade Company and Salt Trading Corporation located in Kathmandu Valley.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Besides this, the FMTCL will run fair-price shops in Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Kathmandu, Lalitpur, Bhaktapur, Kaski, Tanahun, Gorkha, Manang, Mustang, Rupandehi, Banke, Dang, Bardiya, Rukum East and Rukum West.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, FMTCL will have concessional stocks at 48 places of 42 districts, including Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Mahendranagar. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Such fair-price shops can also be operated in additional districts and places as per the need, the Ministry stated. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fixed discount can be accessed through free online home delivery, mobile service, cooperatives and dealers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A monitoring committee has also been formed to check whether the operated fair-price shops are effective or not. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Ministry, market monitoring would be further intensified throughout the festival period. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the case of Kathmandu Valley, the Ministry will form the team and carry out monitoring throughout the period the fair-price shops are operated. The corporations concerned shall also do the same. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Commerce, Supplies Management and Consumer Protection will also form additional team other than the regular monitoring and intensify the monitoring. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In case of other districts, the monitoring teams shall be constituted under the convenorship of the Chief District Officer or the Assistant Chief District Officer for carrying out a thorough monitoring, according to the Ministry. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-27', 'modified' => '2023-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '18829', 'image' => '20230927055429_collage (6).jpg', 'article_date' => '2023-09-27 05:51:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19100', 'article_category_id' => '1', 'title' => 'Haughey Fires Paris Olympic Warning as China Tops Medal Tally', 'sub_title' => '', 'summary' => 'September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 26: Hong Kong swimmer Siobhan Haughey issued another warning for next year's Paris Olympics as hosts China won the first eSports gold medal in the 72-year history of the Asian Games on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, audiences of overwhelmingly young spectators packed out the 4,500-capacity Hangzhou Esports Center in the hope of catching one of their heroes, especially South Korea's Lee "Faker" Sang-hyeok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Medals are up for grabs in seven gaming titles, with China grabbing the first gold when they defeated Malaysia in the final of smartphone game Arena of Valor. Malaysia took home silver and Thailand bronze.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the French news agency, China's place in the Games record books helped the home nation increase their overall tally of golds to 53 at the end of three days of action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They are way ahead of South Korea (14 golds), Japan (eight) and Uzbekistan and Hong Kong (both five).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey fires warning</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the 2024 Paris Olympics just 10 months away, Haughey won her second gold of the Games in another impressive performance in the pool which will make her rivals sit up and take notice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She shattered her own Asian record to add the Games 100m freestyle title to her Olympic and world silver medals, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The 25-year-old produced an exceptional swim on Monday to crush the pack by nearly two seconds and take out the 200m crown, smashing an Asian Games record that had stood since 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She was fired up again over the shorter distance in blasting a 52.17sec to send a warning to Australian freestylers Mollie O'Callaghan and Emma McKeon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Haughey previously set an Asian record of 52.27 when she came second to McKeon at the Tokyo Olympics. Only world champion O'Callaghan has gone faster in 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, China again bossed the Hangzhou pool, taking four of the six golds on the night. The other went to Tomoru Honda, who stunned exhausted Japanese team-mate Daiya Seto in the 400m medley.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China rack up more golds</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On another day of dominance, China's all-powerful table tennis squad swept past rivals Japan 3-0 in the women's team final. They also claimed men's team gold over South Korea by the same scoreline.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In artistic gymnastics, Zhang Boheng won gold in the men's all-around final.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But China were dethroned by Japan in the men's team sprint at the Chun'an Jieshou Sports Centre Velodrome on the first day of action on the cycling track.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's women made no mistake in their team sprint final, beating South Korea to the title.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18828', 'image' => '20230926093931_976372-01-02.jpg', 'article_date' => '2023-09-26 21:38:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19099', 'article_category_id' => '1', 'title' => 'Sanitary Pad Industry Shutting Down', 'sub_title' => '', 'summary' => 'September 26: The export of sanitary pads from Nepal has increased by 582 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: The export of sanitary pads from Nepal has increased by 582 percent. Despite this encouraging trend, businessmen say that the industries that produce sanitary pads are shutting down in the country one after another. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Nepal Sanitary Pad Manufacturers Association, 42 percent of the pad manufacturing companies operating in Nepal have shut their factories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, Nepal exported 22.24 million sanitary pads worth Rs 56.88 million in just two months of the current fiscal year. In the same period last year, Nepal exported 2.78 million sanitary pads worth Rs 8.4 million.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sanitary pads are exported from Nepal to the United States of America and India. According to the Department of Customs, pads were exported mostly to India in the current year. In the last two months, 22 million pads worth Rs 56.87 million were exported to India alone. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dolraj Adhikari, president of the Nepal Sanitary Pad Manufacturers Association, says that despite the increase in exports, pad industries are shutting down. According to him, out of 35 industries operating in Nepal, about 15 have been closed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“The pad industry is in trouble now mainly due to the economic recession and also because it does not fall in the priority list of the government. Therefore, to encourage the pad industry and to be completely self-sufficient in pads, it is necessary to change the difference between the customs duty on the import of ready-made goods and raw materials to of 10 percent, which is 2 percent at present.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, in the two months of this year, Nepal imported 29.1 million sanitary pads worth Rs 186.8 million from abroad, according to the data of the Department of Customs. Last year, during the same period, 31.7 million sanitary pads worth Rs 245.2 million were imported.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Compared to last year, the import of sanitary pads decreased this year. Nepal imports pads from Australia, Bangladesh, China, India, Korea, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America and other countries.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18827', 'image' => '20230926042050_1695714812.jpeg', 'article_date' => '2023-09-26 16:20:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19097', 'article_category_id' => '1', 'title' => 'Nepal, China Issue Joint Statement Promising Cooperation in Railway, Connectivity and More', 'sub_title' => '', 'summary' => 'September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">September 26: Nepal and China have issued a joint statement during the ongoing visit of Prime Minister Pushpa Kamal Dahal to China. The joint statement issued on Tuesday states that the Chinese side is ready to help Nepal train railway professionals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The two sides expressed satisfaction over the progress of the feasibility study of the Jilong/Keyrung-Kathmandu Cross-Border Railway, and planned to hold the 8th Working Meeting on China-Nepal Railway Cooperation as early as possible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Acknowledging the signing of the MoU between the Government of Nepal and the Government of the People’s Republic of China on bilateral cooperation under the framework of the Belt and Road Initiative on 12 May 2017, both the countries expressed their commitment to accelerate the consultations to finalize the text on the BRI Implementation Plan at an early date. They expressed readiness to exchange experiences on their development strategies, deepen practical cooperation in such fields as infrastructure connectivity, trade, tourism, production capacity and investment, and further deepen and solidify Belt and Road cooperation to deliver greater benefits to their peoples.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Chinese side also expressed its commitment to extend its support to improve the facilities on the Nepali side of the Lizi-Nechung port at the earliest possible date. The Chinese side agreed to work for the early reopening of eligible traditional China-Nepal border trade points. The two sides also agreed to maintain communication for the opening of Chentang-Kimathanka, Riwu-Olangchungola ports at an early date. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Considering the needs of Nepal, China has agreed to carry out the fourth phase of the Araniko highway maintenance project and to quickly carry out the Syafrubesi-Rasuwagadhi highway maintenance work, mentions the joint statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, China has agreed to speed up the feasibility study of the Tokha-Chhare tunnel project and the second phase of the Kathmandu Ring Road project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In order to transform Nepal from a landlocked country to a land-linked country, both sides have agreed to continue the implementation of the documents signed in the past regarding China's transportation and highway use.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nepal and China welcomed the consensus reached between the civil aviation authorities of the two countries on expanding the air rights arrangements, and expressed satisfaction over the completion and operation of the Pokhara International Airport. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The two sides support and encourage their airlines to resume and open more flights and air routes, including ones connecting Pokhara, in accordance with bilateral air rights arrangements and in light of market needs, so as to facilitate trade and economic interactions and people-to-people exchanges,” reads the statement. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18826', 'image' => '20230926035708_1695708697.collage (1).jpg', 'article_date' => '2023-09-26 15:56:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19098', 'article_category_id' => '1', 'title' => 'Government Waives Fee for Company Registration and Capital Increment', 'sub_title' => '', 'summary' => 'September 26: The government has waived the fee for company registration and capital increment effective from Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 26: The government has waived the fee for company registration and capital increment effective from Monday. This new provision has come into effect after the government published a notice in this regard in the Nepal Gazette.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made such arrangements in line with the announcement made in the budget for the current fiscal year to make company registration free of cost.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice published in the Nepal Gazette by the Ministry of Industry, Commerce and Supplies mentions that the fees that were previously charged during company registration and capital increment have been waived.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"No fee will be charged while registering a private limited company and a public limited company or for increasing the capital of a registered company according to section </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> of the Companies Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2063</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">," reads the notice.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, arrangements have been made to waive the fee for registration of foreign companies provided that they do not register branch offices and contact office and pledge not to distribute profits.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18825', 'image' => '20230926040950_20230720113533_company registration.jpg', 'article_date' => '2023-09-26 16:09:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19096', 'article_category_id' => '1', 'title' => 'Private Sector not Ready to Accept Government’s Claim that Economic Indicators have Improved', 'sub_title' => 'Industrialists Running Industry not to Make Profit, but to Reduce Losses', 'summary' => 'September 26: Although the festive season is just around the corner, there is no excitement in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 26: Although the festive season is just around the corner, there is no excitement in the market. The market is still struggling due to the slowdown caused by Covid-19 pandemic. On top of that, the import control policy adopted by the government and the current capital loan guidelines implemented by the central bank have further weakened the market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As the foreign exchange reserves began to decrease, the panicked government adopted a policy of tightening imports. However, this policy could not work effectively. Except for few items that were restricted, all others were easily available in the market through illegal channels, resulting in skyrocketing of prices. As the revenue loss from unauthorized imports increased, the government lifted the ban on imports.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Even this step could not bring the market back to the rhythm. Entrepreneurs say that now the production of industries has fallen to less than a quarter of their full capacity. While the government is claiming that the economic indicators have improved, the private sector is not ready to accept this.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The private sector believes that the market is going into recession. Hari Gautam, senior vice president of Birgunj Industry and Commerce says, “There are no signs of improvement in the market. Positive statistics alone is not enough. The market should feel the impact accordingly.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Currently, the consumption of construction materials, clothes and daily consumables has decreased. Businessmen say that the halt in works of the construction industry has had a ripple effect in demand and production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Industrialists say that the demand for the products of large industries like cement and iron has decreased heavily.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong><span style="font-family:"Arial","sans-serif"">Consumption of medicine also decreased</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to Prabhat Rungta, treasurer of Nepal Pharmaceutical Producers Association, the consumption of even essential medicines has decreased. Businessmen say that the demand for medicines has decreased due to the increase in health awareness since the onset of the Covid-19 pandemic and cheap medicines available in the market and health insurance schemes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rungta said that since the government has been supplying medicines provided under health insurance through global tenders, domestic manufacturers have not been able to compete in the market. Producers estimate that the consumption of domestically-produced medicines has decreased by 25 to 30 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">How to solve?</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The lack of investable funds (liquidity) seen in the banking system is one of the main reasons for the contraction in business of the private sector. Due to the high interest rate, the construction works have stopped and there is lack of new investment. Businessmen say that the overall demand has decreased due to its cyclical effect.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under FNCCI, suggests that the government should increase its public spending capacity to make the market vibrant. Gupta says, “If the government fails to cut unnecessary expenses and increase capital expenditure, there may be a serious economic crisis. The government has not been serious about it yet,”</span> said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The business community believes that if investment is increased in the market to create demand, the economy will return to normalcy. Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI, says that the provision of current capital loan guidelines should be suspended for now and the market should be made operational.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Businessmen say that a long-term solution to the lack of liquidity should be sought. Senior Vice President Gautam says, “There should be a clear policy arrangement to keep the interest rate under control.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18824', 'image' => '20230926021413_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-09-26 14:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19095', 'article_category_id' => '1', 'title' => 'Indra Jatra Begins Today with the Setting up of Wooden Pole', 'sub_title' => '', 'summary' => 'September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 25: Indra Jatra, the festival of rain and good harvest, began Tuesday in Bhaktapur district. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The eight-day festival, having religious and cultural significance, is observed with much fanfare especially among the Newar communities in the Kathmandu Valley. It is also marked in districts such as Kavrepalanchowk and Dolakha. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indra Jatra, the main day of the festival, falls on the Bhadra Shukla Chathurdashi, the fourth day of the waxing moon in the month of Bhadra as per the lunar calendar. September 28 is the main day of the festival this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It begins from Bhadra Shukla Dwadashi and on that day a towering wooden pole (lingo) signifying the Lord of Rain-Indra- is installed in every town of Bhaktapur city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the tradition, erecting a lingo (a wooden pole) began at 10:37 am on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the festival, the wooden pole is brought from Bhaktapur to Kathmandu and installed on the chariot at Hanumandhoka in Basatapur Durbar Square. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of ceremonies are organized during the eight-day festival including Lakhe naach and Pulu Kisi procession. The chariot procession, a major part of the festival, involves pulling of a big chariot of the living Goddess Kumari and two smaller chariots of Lord Ganesh and Lord Bhairab along the thoroughfares of the city. It will take place on September 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the tradition, the Head of State visits and worships the living Goddess Kumari, Ganesh and Bhairav during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cultural expert and historian Prof Dr Purusottam Lochan Shrestha shared that although the Indra Jatra has been celebrated since Dwapar era (during the time of Mahabharata), King Jagat Prakash Malla of Bhaktapur in the 17th century collected Vedic scriptures and other holy texts such as the Puranas and imitated scenes based on the stories narrated in those scriptures and brought the culture and tradition of festivities. Historian Shrestha added that the festival is celebrated with the aim of maintain peace and order, fostering prosperity and to ward off natural calamities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that the locals believe that observing the festival will also prevent famine, epidemic, excessive rains and eradicate enmity among people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Kathmandu Metropolitan City (KMC), with the aim of promoting the dignity of Indra Jatra at the international level, has invited guests from various municipalities of foreign countries with which it has established sister relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC shared in a press meet on Monday that as many as 22 guests from the USA and China will visit Nepal to partake in the celebration of Indra Jatra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival will come to an end on October 2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18823', 'image' => '20230926112431_20220909091416_20180920035728_indra jatra.jpg', 'article_date' => '2023-09-26 11:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19093', 'article_category_id' => '1', 'title' => 'China Leads 19th Asian Games, Nepal Nil', 'sub_title' => '', 'summary' => 'September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 26: Players from different countries have secured a total of 228 medals so far in the ongoing 19th Asian Games in Hangzhou, China. But, Nepal is still unable to secure any medal till now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 45 countries participating in the Games, players from 25 countries have bagged medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Monday, China bagged 39 gold medals, 21 silver and nine bronze medals to top the medals tally. Similarly, South Korea is a distant second with 10 gold and silver medals each and 13 bronze medals, followed by Japan in the third position with five gold, 14 silver and 14 bronze medals, while Uzbekistan is trailing in the fourth position with four gold, six silver and bronze medals each. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance off the mark </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's performance in the ongoing Asian Games is off the mark. The players have disappointed the sports revelers. All Nepali players were defeated in tennis on Monday. Nepal lost in all four competitions. Pradip Khadka who won the first round match under men’s singles category lost to a Japanese player in straight sets in the second round. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Abhisek Bastola under men’s singles category was defeated by a Hong Kong player. The group of Avilasha Bista and Mahima Rana lost to South Korean team in women’s doubles. In the mixed doubles, Abhisek Bastola and Avilasha Bista lost to an Indonesian team. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal also lost in fencing, rugby, cycling, basketball, taekwondo, judo, and swimming. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Rabin Thapa who defeated an Indonesian player in 51-kg category in boxing 4-1 is playing with Korean players in the pre-quarter final. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-26', 'modified' => '2023-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '18822', 'image' => '20230926105642_XxjpseE009233_20230925_PEPFN1A001 - Copy.JPG', 'article_date' => '2023-09-26 10:56:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
