Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far.…
Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far.…
July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday.…
As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training…
July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy…
July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling…
July 31: The country is under the influence of monsoon winds at…
July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air…
July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon.…
The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial…
July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's…
Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali…
The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular…
July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the…
July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest…
July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">August 1: Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Lack of monsoon rains and the inability of farmers to sow rice seeds on time, paddy cultivation has slumped, said Ramchandra Yadav, the chief of the Agricultural Knowledge Center in Mahottari.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The district has not received adequate rainfall though the month of July has passed by. Farmers have cultivated paddy in around 40% of the fields by using costly methods like deep tube wells, shallow tube well, and motor pumps.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Dr. Yadav mentioned that out of the total cultivable land of 45 thousand hectares in the district, only about 9 thousand nine hundred hectares have been cultivated so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Farmers have transplanted paddy using high costs methods. Unfortunately, paddy has started wilting and paddy fields have become parched and dry for lack of water, Bipendra Pandey said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Another farmer, Ramu Mandal, complained that his paddy saplings had wilted in the field due to lack of rainfall. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Upendra Yadav from Ekdara Rural Municipality Ward-4 said that paddy transplantation could not take place throughout the village and planted paddy had wilted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Pramod Mandal from Ramgopalpur Municipality Ward-5 complained about not being able to cultivate paddy due to the lack of monsoon rains. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Only around 21,000 hectares of the land has access to irrigation facility in Mahottari. Rest of the land relies on rainwater for paddy cultivation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Agriculture Knowledge Center has predicted a decline in rice production in this district this year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18339', 'image' => '20230801060608_collage (4).jpg', 'article_date' => '2023-08-01 06:03:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18609', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops for Five Consecutive Days after Issuance of Monetary Policy', 'sub_title' => '', 'summary' => 'July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. After falling for five successive days since the announcement, NEPSE index increased marginally on Monday. Until Sunday, NEPSE decreased by 5.69 percent (126.81 points) to 2100 points before increasing by 5.84 points on Monday. The monetary policy mentioned about reviewing the existing risk weightage of 150 percent in share mortgage loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors estimated that the risk weightage will decrease regardless of the amount of share mortgage loan they take, causing an increase in the market when the monetary policy was unveiled last Sunday. However, Governor Mahaprasad Adhikari, in a press conference held after the release of the monetary policy, made it clear that only 100 percent risk weightage will be maintained for share mortgage loans up to Rs 5 million per person, which resulted in the decline in the secondary market transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Some investors have been expressing through social media that they are not positive towards the idea.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Other investors argue that the monetary policy is good, but it is making investors suffer by spreading unnecessary confusion. On the day the monetary policy was announced, the NEPSE index rose 63 points to close at 2,227 points with Rs 4.37 billion worth shares transactions. After that, both NEPSE index and daily turnover declined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors had good expectations through monetary policy. Before the announcement of the monetary policy, there was news that the average risk weight will be revised. The governor had also expressed the same intention from time to time. Likewise, liquidity in the financial system had eased with credit-deposit ratio (CD ratio) at 82 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">When the monetary policy was announced, it was said that 150 percent of the risk weightage of share mortgage loans would be revised. However, it did not happen accordingly. That is why the market decreased. Another reason is that traders book profits in rising markets. After making profits, traders buy shares only when the market comes down again. This is also the reason why the market was affected. Nothing else has a negative impact on the stock market. Now the listed companies have started publishing their fourth quarterly financial statements. Mutual funds have started declaring dividends. The stock market is expected to gradually return to its own rhythm.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18338', 'image' => '20230731063910_1530530135-scaled.jpg', 'article_date' => '2023-07-31 18:38:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18608', 'article_category_id' => '1', 'title' => 'Country Reports 77 Percent Rice Transplantation till Last Week of July', 'sub_title' => '', 'summary' => 'As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 31: As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This marks a decrease compared to the corresponding period last year when 90 percent of rice cultivation had already been completed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Across the country, paddy has been planted in a total area of 1,053,404 hectares out of 1,357,816 hectares as of the last week of July. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Koshi Province, the rice cultivation rate is currently at 84 percent, which is a slight drop from 88 percent during the same period last year. Rice transplantation has taken place on 275,133 hectares of land in the province this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Rice has been cultivated in 209,086 hectares, accounting for 59 percent of the total 354,383 arable land in Madhes Province. This is lower than the figure reported during the same period last year, which was 83 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Bagmati Province, the rice cultivation rate currently stands at 72 percent, a significant decrease from 93 percent during the same period last year. The province has reported rice transplantation on 81,420 hectares out of the total 113,083 hectares of land suitable for rice cultivation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Out of the total 104,622 hectares of arable land, paddy transplantation has taken place in 85,790 hectares so far (82 percent) in Gandaki Province. This represents a decrease from 96 percent during the same period last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Lumbini Province, paddy cultivation has been completed in 243,318 hectares of the total 300,392 hectares (81 percent). This is a decrease from 85 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Karnali Province has reported the paddy transplantation in 32,918 hectares of the total 38,727 hectares (85 percent), showing an increase from 78 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Sudurpaschim Province, paddy plantation has been completed in 169,761 hectares out of a total of 171,476 hectares (99 percent). The same percentage of paddy cultivation took place during the same period last year, according to the Centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Overall, the country's rice transplantation progress is at 77 percent, with some provinces experiencing better results than others compared to the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Agriculture Information and Training Center is closely monitoring the situation as the rice cultivation season continues. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18337', 'image' => '20230731052041_collage (2).jpg', 'article_date' => '2023-07-31 17:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18606', 'article_category_id' => '1', 'title' => 'Arrival of Tourists in Off-Season Elates Tourism Entrepreneurs of Sauraha ', 'sub_title' => '', 'summary' => 'July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">July and August are considered off-season in terms of the inflow of tourists. Due to shrinking business in the rainy season, the hotel staff were also encouraged to stay on leave in previous years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the increasing flow of domestic and foreign tourists in the off-season this time has elated the tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chairperson of the Regional Hotel Association, Chitwan, Ganga Giri, 1000 to 1200 tourists are arriving in Sauraha on an average day in this season. Half of them are foreigners with dominant number of Chinese tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are 125 hotels in Sauraha having capacity to accommodate 6,200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing number of tourists in the off-season has excited tourism entrepreneurs here, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 100 tourists are enjoying elephant ride in Sauraha on a daily basis, informed chairperson of United Elephant Operators' Cooperative organization, Rishi Tiwari. Mostly the Chinese tourists are enjoying elephant ride, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of tourists in Sauraha is higher than it was in the previous years. Former chairperson of Regional Hotel Association, Suman Ghimire said the arrival of tourists is satisfactory despite bad condition of roads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has made entrepreneurs hopeful for the rebound of tourism industry in Nepal, Ghimire said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18335', 'image' => '20230731020930_20220909043430_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2023-07-31 14:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18605', 'article_category_id' => '1', 'title' => 'PAC Draws Parliament's Attention to Form High-Level Body to Probe 100 kg Gold Smuggling Case ', 'sub_title' => '', 'summary' => 'July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Sunday called for forming the high-powered committee to investigate the case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The committee has taken a decision to draw the attention of the parliament to form a high level committee for investigation," said Arjun Narsingh KC, who chairs the committee as its senior-most member. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting endorsed the 'Public Accounts Committee Operation Procedures, 2080'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee also drew the attention of the concerned authorities to the inability of planting paddy in the Tarai for want of irrigation, and water scarcity. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18334', 'image' => '20230731125034_goldee.jpg', 'article_date' => '2023-07-31 12:49:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18604', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms and Lightning Likely Today', 'sub_title' => '', 'summary' => 'July 31: The country is under the influence of monsoon winds at present. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The country is under the influence of monsoon winds at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division under the Department of Hydrology and Meteorology, there will be partial to general changes in weather across the country in the day time today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rainfall is taking place in some areas of the Gandaki and Lumbini provinces and one to two places of the Koshi, Bagmati and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a chance of light to moderate rainfall in some areas of mountainous region and limited areas of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is predicted that one to two areas of Koshi, Bagmati, Gandaki and Lumbini provinces will see heavy rain with thunderstorms and lightning later in the day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the night time, there is a chance of heavy rainfall with thunderstorms and lightning in one or two places of the Koshi, Bagmati, Gandaki and Lumbini provinces. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18333', 'image' => '20230731105714_rain.jpeg', 'article_date' => '2023-07-31 10:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18603', 'article_category_id' => '1', 'title' => 'SC Issues Interlocutory Order not to Implement VAT on Air Tickets ', 'sub_title' => '', 'summary' => 'July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC issued such an order in response to a writ petition filed by Nepal Association of Tours and Travels Agent (NATTA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Anil Kumar Sinha issued the order and also summoned the government side for discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA had moved the SC on July 17, seeking mandamus order with certiorari against the government’s decision to impose VAT on air tickets.</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 Prakash Sharan Mahat had announced to implement VAT on plane tickets during the budget announcement for the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism entrepreneurs had however argued that the VAT imposed on air tickets was not friendly to tourism entrepreneurs and would impact adversely on the tourism business. Travel companies and passengers would have to bear the brunt of VAT, NATTA had argued. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18332', 'image' => '20230731103836_Tourist.jpg', 'article_date' => '2023-07-31 10:37:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</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 policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</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"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</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 interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</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"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</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"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </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"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 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"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</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"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</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"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</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 Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</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 monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</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"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</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"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="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 new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <p><span style="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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="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 procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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 a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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 former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18610', 'article_category_id' => '1', 'title' => 'Mahottari Records Only 40 Percent Paddy Cultivation Due to Lack of Rainfall', 'sub_title' => '', 'summary' => 'Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">August 1: Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Lack of monsoon rains and the inability of farmers to sow rice seeds on time, paddy cultivation has slumped, said Ramchandra Yadav, the chief of the Agricultural Knowledge Center in Mahottari.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The district has not received adequate rainfall though the month of July has passed by. Farmers have cultivated paddy in around 40% of the fields by using costly methods like deep tube wells, shallow tube well, and motor pumps.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Dr. Yadav mentioned that out of the total cultivable land of 45 thousand hectares in the district, only about 9 thousand nine hundred hectares have been cultivated so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Farmers have transplanted paddy using high costs methods. Unfortunately, paddy has started wilting and paddy fields have become parched and dry for lack of water, Bipendra Pandey said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Another farmer, Ramu Mandal, complained that his paddy saplings had wilted in the field due to lack of rainfall. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Upendra Yadav from Ekdara Rural Municipality Ward-4 said that paddy transplantation could not take place throughout the village and planted paddy had wilted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Pramod Mandal from Ramgopalpur Municipality Ward-5 complained about not being able to cultivate paddy due to the lack of monsoon rains. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Only around 21,000 hectares of the land has access to irrigation facility in Mahottari. Rest of the land relies on rainwater for paddy cultivation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Agriculture Knowledge Center has predicted a decline in rice production in this district this year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18339', 'image' => '20230801060608_collage (4).jpg', 'article_date' => '2023-08-01 06:03:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18609', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops for Five Consecutive Days after Issuance of Monetary Policy', 'sub_title' => '', 'summary' => 'July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. After falling for five successive days since the announcement, NEPSE index increased marginally on Monday. Until Sunday, NEPSE decreased by 5.69 percent (126.81 points) to 2100 points before increasing by 5.84 points on Monday. The monetary policy mentioned about reviewing the existing risk weightage of 150 percent in share mortgage loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors estimated that the risk weightage will decrease regardless of the amount of share mortgage loan they take, causing an increase in the market when the monetary policy was unveiled last Sunday. However, Governor Mahaprasad Adhikari, in a press conference held after the release of the monetary policy, made it clear that only 100 percent risk weightage will be maintained for share mortgage loans up to Rs 5 million per person, which resulted in the decline in the secondary market transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Some investors have been expressing through social media that they are not positive towards the idea.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Other investors argue that the monetary policy is good, but it is making investors suffer by spreading unnecessary confusion. On the day the monetary policy was announced, the NEPSE index rose 63 points to close at 2,227 points with Rs 4.37 billion worth shares transactions. After that, both NEPSE index and daily turnover declined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors had good expectations through monetary policy. Before the announcement of the monetary policy, there was news that the average risk weight will be revised. The governor had also expressed the same intention from time to time. Likewise, liquidity in the financial system had eased with credit-deposit ratio (CD ratio) at 82 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">When the monetary policy was announced, it was said that 150 percent of the risk weightage of share mortgage loans would be revised. However, it did not happen accordingly. That is why the market decreased. Another reason is that traders book profits in rising markets. After making profits, traders buy shares only when the market comes down again. This is also the reason why the market was affected. Nothing else has a negative impact on the stock market. Now the listed companies have started publishing their fourth quarterly financial statements. Mutual funds have started declaring dividends. The stock market is expected to gradually return to its own rhythm.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18338', 'image' => '20230731063910_1530530135-scaled.jpg', 'article_date' => '2023-07-31 18:38:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18608', 'article_category_id' => '1', 'title' => 'Country Reports 77 Percent Rice Transplantation till Last Week of July', 'sub_title' => '', 'summary' => 'As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 31: As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This marks a decrease compared to the corresponding period last year when 90 percent of rice cultivation had already been completed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Across the country, paddy has been planted in a total area of 1,053,404 hectares out of 1,357,816 hectares as of the last week of July. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Koshi Province, the rice cultivation rate is currently at 84 percent, which is a slight drop from 88 percent during the same period last year. Rice transplantation has taken place on 275,133 hectares of land in the province this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Rice has been cultivated in 209,086 hectares, accounting for 59 percent of the total 354,383 arable land in Madhes Province. This is lower than the figure reported during the same period last year, which was 83 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Bagmati Province, the rice cultivation rate currently stands at 72 percent, a significant decrease from 93 percent during the same period last year. The province has reported rice transplantation on 81,420 hectares out of the total 113,083 hectares of land suitable for rice cultivation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Out of the total 104,622 hectares of arable land, paddy transplantation has taken place in 85,790 hectares so far (82 percent) in Gandaki Province. This represents a decrease from 96 percent during the same period last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Lumbini Province, paddy cultivation has been completed in 243,318 hectares of the total 300,392 hectares (81 percent). This is a decrease from 85 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Karnali Province has reported the paddy transplantation in 32,918 hectares of the total 38,727 hectares (85 percent), showing an increase from 78 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Sudurpaschim Province, paddy plantation has been completed in 169,761 hectares out of a total of 171,476 hectares (99 percent). The same percentage of paddy cultivation took place during the same period last year, according to the Centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Overall, the country's rice transplantation progress is at 77 percent, with some provinces experiencing better results than others compared to the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Agriculture Information and Training Center is closely monitoring the situation as the rice cultivation season continues. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18337', 'image' => '20230731052041_collage (2).jpg', 'article_date' => '2023-07-31 17:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18606', 'article_category_id' => '1', 'title' => 'Arrival of Tourists in Off-Season Elates Tourism Entrepreneurs of Sauraha ', 'sub_title' => '', 'summary' => 'July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">July and August are considered off-season in terms of the inflow of tourists. Due to shrinking business in the rainy season, the hotel staff were also encouraged to stay on leave in previous years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the increasing flow of domestic and foreign tourists in the off-season this time has elated the tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chairperson of the Regional Hotel Association, Chitwan, Ganga Giri, 1000 to 1200 tourists are arriving in Sauraha on an average day in this season. Half of them are foreigners with dominant number of Chinese tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are 125 hotels in Sauraha having capacity to accommodate 6,200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing number of tourists in the off-season has excited tourism entrepreneurs here, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 100 tourists are enjoying elephant ride in Sauraha on a daily basis, informed chairperson of United Elephant Operators' Cooperative organization, Rishi Tiwari. Mostly the Chinese tourists are enjoying elephant ride, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of tourists in Sauraha is higher than it was in the previous years. Former chairperson of Regional Hotel Association, Suman Ghimire said the arrival of tourists is satisfactory despite bad condition of roads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has made entrepreneurs hopeful for the rebound of tourism industry in Nepal, Ghimire said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18335', 'image' => '20230731020930_20220909043430_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2023-07-31 14:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18605', 'article_category_id' => '1', 'title' => 'PAC Draws Parliament's Attention to Form High-Level Body to Probe 100 kg Gold Smuggling Case ', 'sub_title' => '', 'summary' => 'July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Sunday called for forming the high-powered committee to investigate the case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The committee has taken a decision to draw the attention of the parliament to form a high level committee for investigation," said Arjun Narsingh KC, who chairs the committee as its senior-most member. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting endorsed the 'Public Accounts Committee Operation Procedures, 2080'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee also drew the attention of the concerned authorities to the inability of planting paddy in the Tarai for want of irrigation, and water scarcity. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18334', 'image' => '20230731125034_goldee.jpg', 'article_date' => '2023-07-31 12:49:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18604', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms and Lightning Likely Today', 'sub_title' => '', 'summary' => 'July 31: The country is under the influence of monsoon winds at present. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The country is under the influence of monsoon winds at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division under the Department of Hydrology and Meteorology, there will be partial to general changes in weather across the country in the day time today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rainfall is taking place in some areas of the Gandaki and Lumbini provinces and one to two places of the Koshi, Bagmati and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a chance of light to moderate rainfall in some areas of mountainous region and limited areas of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is predicted that one to two areas of Koshi, Bagmati, Gandaki and Lumbini provinces will see heavy rain with thunderstorms and lightning later in the day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the night time, there is a chance of heavy rainfall with thunderstorms and lightning in one or two places of the Koshi, Bagmati, Gandaki and Lumbini provinces. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18333', 'image' => '20230731105714_rain.jpeg', 'article_date' => '2023-07-31 10:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18603', 'article_category_id' => '1', 'title' => 'SC Issues Interlocutory Order not to Implement VAT on Air Tickets ', 'sub_title' => '', 'summary' => 'July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC issued such an order in response to a writ petition filed by Nepal Association of Tours and Travels Agent (NATTA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Anil Kumar Sinha issued the order and also summoned the government side for discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA had moved the SC on July 17, seeking mandamus order with certiorari against the government’s decision to impose VAT on air tickets.</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 Prakash Sharan Mahat had announced to implement VAT on plane tickets during the budget announcement for the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism entrepreneurs had however argued that the VAT imposed on air tickets was not friendly to tourism entrepreneurs and would impact adversely on the tourism business. Travel companies and passengers would have to bear the brunt of VAT, NATTA had argued. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18332', 'image' => '20230731103836_Tourist.jpg', 'article_date' => '2023-07-31 10:37:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</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 policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</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"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</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 interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</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"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</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"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </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"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 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"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</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"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</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"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</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 Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</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 monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</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"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</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"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="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 new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <p><span style="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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="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 procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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 a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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 former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18610', 'article_category_id' => '1', 'title' => 'Mahottari Records Only 40 Percent Paddy Cultivation Due to Lack of Rainfall', 'sub_title' => '', 'summary' => 'Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">August 1: Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Lack of monsoon rains and the inability of farmers to sow rice seeds on time, paddy cultivation has slumped, said Ramchandra Yadav, the chief of the Agricultural Knowledge Center in Mahottari.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The district has not received adequate rainfall though the month of July has passed by. Farmers have cultivated paddy in around 40% of the fields by using costly methods like deep tube wells, shallow tube well, and motor pumps.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Dr. Yadav mentioned that out of the total cultivable land of 45 thousand hectares in the district, only about 9 thousand nine hundred hectares have been cultivated so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Farmers have transplanted paddy using high costs methods. Unfortunately, paddy has started wilting and paddy fields have become parched and dry for lack of water, Bipendra Pandey said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Another farmer, Ramu Mandal, complained that his paddy saplings had wilted in the field due to lack of rainfall. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Upendra Yadav from Ekdara Rural Municipality Ward-4 said that paddy transplantation could not take place throughout the village and planted paddy had wilted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Pramod Mandal from Ramgopalpur Municipality Ward-5 complained about not being able to cultivate paddy due to the lack of monsoon rains. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Only around 21,000 hectares of the land has access to irrigation facility in Mahottari. Rest of the land relies on rainwater for paddy cultivation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Agriculture Knowledge Center has predicted a decline in rice production in this district this year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18339', 'image' => '20230801060608_collage (4).jpg', 'article_date' => '2023-08-01 06:03:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18609', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops for Five Consecutive Days after Issuance of Monetary Policy', 'sub_title' => '', 'summary' => 'July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. After falling for five successive days since the announcement, NEPSE index increased marginally on Monday. Until Sunday, NEPSE decreased by 5.69 percent (126.81 points) to 2100 points before increasing by 5.84 points on Monday. The monetary policy mentioned about reviewing the existing risk weightage of 150 percent in share mortgage loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors estimated that the risk weightage will decrease regardless of the amount of share mortgage loan they take, causing an increase in the market when the monetary policy was unveiled last Sunday. However, Governor Mahaprasad Adhikari, in a press conference held after the release of the monetary policy, made it clear that only 100 percent risk weightage will be maintained for share mortgage loans up to Rs 5 million per person, which resulted in the decline in the secondary market transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Some investors have been expressing through social media that they are not positive towards the idea.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Other investors argue that the monetary policy is good, but it is making investors suffer by spreading unnecessary confusion. On the day the monetary policy was announced, the NEPSE index rose 63 points to close at 2,227 points with Rs 4.37 billion worth shares transactions. After that, both NEPSE index and daily turnover declined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors had good expectations through monetary policy. Before the announcement of the monetary policy, there was news that the average risk weight will be revised. The governor had also expressed the same intention from time to time. Likewise, liquidity in the financial system had eased with credit-deposit ratio (CD ratio) at 82 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">When the monetary policy was announced, it was said that 150 percent of the risk weightage of share mortgage loans would be revised. However, it did not happen accordingly. That is why the market decreased. Another reason is that traders book profits in rising markets. After making profits, traders buy shares only when the market comes down again. This is also the reason why the market was affected. Nothing else has a negative impact on the stock market. Now the listed companies have started publishing their fourth quarterly financial statements. Mutual funds have started declaring dividends. The stock market is expected to gradually return to its own rhythm.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18338', 'image' => '20230731063910_1530530135-scaled.jpg', 'article_date' => '2023-07-31 18:38:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18608', 'article_category_id' => '1', 'title' => 'Country Reports 77 Percent Rice Transplantation till Last Week of July', 'sub_title' => '', 'summary' => 'As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 31: As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This marks a decrease compared to the corresponding period last year when 90 percent of rice cultivation had already been completed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Across the country, paddy has been planted in a total area of 1,053,404 hectares out of 1,357,816 hectares as of the last week of July. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Koshi Province, the rice cultivation rate is currently at 84 percent, which is a slight drop from 88 percent during the same period last year. Rice transplantation has taken place on 275,133 hectares of land in the province this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Rice has been cultivated in 209,086 hectares, accounting for 59 percent of the total 354,383 arable land in Madhes Province. This is lower than the figure reported during the same period last year, which was 83 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Bagmati Province, the rice cultivation rate currently stands at 72 percent, a significant decrease from 93 percent during the same period last year. The province has reported rice transplantation on 81,420 hectares out of the total 113,083 hectares of land suitable for rice cultivation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Out of the total 104,622 hectares of arable land, paddy transplantation has taken place in 85,790 hectares so far (82 percent) in Gandaki Province. This represents a decrease from 96 percent during the same period last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Lumbini Province, paddy cultivation has been completed in 243,318 hectares of the total 300,392 hectares (81 percent). This is a decrease from 85 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Karnali Province has reported the paddy transplantation in 32,918 hectares of the total 38,727 hectares (85 percent), showing an increase from 78 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Sudurpaschim Province, paddy plantation has been completed in 169,761 hectares out of a total of 171,476 hectares (99 percent). The same percentage of paddy cultivation took place during the same period last year, according to the Centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Overall, the country's rice transplantation progress is at 77 percent, with some provinces experiencing better results than others compared to the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Agriculture Information and Training Center is closely monitoring the situation as the rice cultivation season continues. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18337', 'image' => '20230731052041_collage (2).jpg', 'article_date' => '2023-07-31 17:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18606', 'article_category_id' => '1', 'title' => 'Arrival of Tourists in Off-Season Elates Tourism Entrepreneurs of Sauraha ', 'sub_title' => '', 'summary' => 'July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">July and August are considered off-season in terms of the inflow of tourists. Due to shrinking business in the rainy season, the hotel staff were also encouraged to stay on leave in previous years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the increasing flow of domestic and foreign tourists in the off-season this time has elated the tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chairperson of the Regional Hotel Association, Chitwan, Ganga Giri, 1000 to 1200 tourists are arriving in Sauraha on an average day in this season. Half of them are foreigners with dominant number of Chinese tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are 125 hotels in Sauraha having capacity to accommodate 6,200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing number of tourists in the off-season has excited tourism entrepreneurs here, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 100 tourists are enjoying elephant ride in Sauraha on a daily basis, informed chairperson of United Elephant Operators' Cooperative organization, Rishi Tiwari. Mostly the Chinese tourists are enjoying elephant ride, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of tourists in Sauraha is higher than it was in the previous years. Former chairperson of Regional Hotel Association, Suman Ghimire said the arrival of tourists is satisfactory despite bad condition of roads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has made entrepreneurs hopeful for the rebound of tourism industry in Nepal, Ghimire said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18335', 'image' => '20230731020930_20220909043430_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2023-07-31 14:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18605', 'article_category_id' => '1', 'title' => 'PAC Draws Parliament's Attention to Form High-Level Body to Probe 100 kg Gold Smuggling Case ', 'sub_title' => '', 'summary' => 'July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Sunday called for forming the high-powered committee to investigate the case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The committee has taken a decision to draw the attention of the parliament to form a high level committee for investigation," said Arjun Narsingh KC, who chairs the committee as its senior-most member. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting endorsed the 'Public Accounts Committee Operation Procedures, 2080'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee also drew the attention of the concerned authorities to the inability of planting paddy in the Tarai for want of irrigation, and water scarcity. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18334', 'image' => '20230731125034_goldee.jpg', 'article_date' => '2023-07-31 12:49:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18604', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms and Lightning Likely Today', 'sub_title' => '', 'summary' => 'July 31: The country is under the influence of monsoon winds at present. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The country is under the influence of monsoon winds at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division under the Department of Hydrology and Meteorology, there will be partial to general changes in weather across the country in the day time today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rainfall is taking place in some areas of the Gandaki and Lumbini provinces and one to two places of the Koshi, Bagmati and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a chance of light to moderate rainfall in some areas of mountainous region and limited areas of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is predicted that one to two areas of Koshi, Bagmati, Gandaki and Lumbini provinces will see heavy rain with thunderstorms and lightning later in the day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the night time, there is a chance of heavy rainfall with thunderstorms and lightning in one or two places of the Koshi, Bagmati, Gandaki and Lumbini provinces. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18333', 'image' => '20230731105714_rain.jpeg', 'article_date' => '2023-07-31 10:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18603', 'article_category_id' => '1', 'title' => 'SC Issues Interlocutory Order not to Implement VAT on Air Tickets ', 'sub_title' => '', 'summary' => 'July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC issued such an order in response to a writ petition filed by Nepal Association of Tours and Travels Agent (NATTA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Anil Kumar Sinha issued the order and also summoned the government side for discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA had moved the SC on July 17, seeking mandamus order with certiorari against the government’s decision to impose VAT on air tickets.</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 Prakash Sharan Mahat had announced to implement VAT on plane tickets during the budget announcement for the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism entrepreneurs had however argued that the VAT imposed on air tickets was not friendly to tourism entrepreneurs and would impact adversely on the tourism business. Travel companies and passengers would have to bear the brunt of VAT, NATTA had argued. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18332', 'image' => '20230731103836_Tourist.jpg', 'article_date' => '2023-07-31 10:37:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</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 policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</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"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</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 interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</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"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</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"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </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"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 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"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</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"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</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"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</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 Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</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 monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</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"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</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"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="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 new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <p><span style="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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="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 procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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 a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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 former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18610', 'article_category_id' => '1', 'title' => 'Mahottari Records Only 40 Percent Paddy Cultivation Due to Lack of Rainfall', 'sub_title' => '', 'summary' => 'Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">August 1: Due to lack of timely rainfall, only about 40% of the paddy transplantation has taken place in Mahottari district so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Lack of monsoon rains and the inability of farmers to sow rice seeds on time, paddy cultivation has slumped, said Ramchandra Yadav, the chief of the Agricultural Knowledge Center in Mahottari.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The district has not received adequate rainfall though the month of July has passed by. Farmers have cultivated paddy in around 40% of the fields by using costly methods like deep tube wells, shallow tube well, and motor pumps.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Dr. Yadav mentioned that out of the total cultivable land of 45 thousand hectares in the district, only about 9 thousand nine hundred hectares have been cultivated so far. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Farmers have transplanted paddy using high costs methods. Unfortunately, paddy has started wilting and paddy fields have become parched and dry for lack of water, Bipendra Pandey said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Another farmer, Ramu Mandal, complained that his paddy saplings had wilted in the field due to lack of rainfall. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Upendra Yadav from Ekdara Rural Municipality Ward-4 said that paddy transplantation could not take place throughout the village and planted paddy had wilted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Pramod Mandal from Ramgopalpur Municipality Ward-5 complained about not being able to cultivate paddy due to the lack of monsoon rains. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Only around 21,000 hectares of the land has access to irrigation facility in Mahottari. Rest of the land relies on rainwater for paddy cultivation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Agriculture Knowledge Center has predicted a decline in rice production in this district this year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18339', 'image' => '20230801060608_collage (4).jpg', 'article_date' => '2023-08-01 06:03:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18609', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops for Five Consecutive Days after Issuance of Monetary Policy', 'sub_title' => '', 'summary' => 'July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: Since Nepal Rastra Bank announced the monetary policy for the current fiscal year (FY 2023/24), Nepal Stock Exchange (NEPSE) index has been falling on a daily basis except for Monday. After falling for five successive days since the announcement, NEPSE index increased marginally on Monday. Until Sunday, NEPSE decreased by 5.69 percent (126.81 points) to 2100 points before increasing by 5.84 points on Monday. The monetary policy mentioned about reviewing the existing risk weightage of 150 percent in share mortgage loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors estimated that the risk weightage will decrease regardless of the amount of share mortgage loan they take, causing an increase in the market when the monetary policy was unveiled last Sunday. However, Governor Mahaprasad Adhikari, in a press conference held after the release of the monetary policy, made it clear that only 100 percent risk weightage will be maintained for share mortgage loans up to Rs 5 million per person, which resulted in the decline in the secondary market transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Some investors have been expressing through social media that they are not positive towards the idea.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Other investors argue that the monetary policy is good, but it is making investors suffer by spreading unnecessary confusion. On the day the monetary policy was announced, the NEPSE index rose 63 points to close at 2,227 points with Rs 4.37 billion worth shares transactions. After that, both NEPSE index and daily turnover declined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Investors had good expectations through monetary policy. Before the announcement of the monetary policy, there was news that the average risk weight will be revised. The governor had also expressed the same intention from time to time. Likewise, liquidity in the financial system had eased with credit-deposit ratio (CD ratio) at 82 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">When the monetary policy was announced, it was said that 150 percent of the risk weightage of share mortgage loans would be revised. However, it did not happen accordingly. That is why the market decreased. Another reason is that traders book profits in rising markets. After making profits, traders buy shares only when the market comes down again. This is also the reason why the market was affected. Nothing else has a negative impact on the stock market. Now the listed companies have started publishing their fourth quarterly financial statements. Mutual funds have started declaring dividends. The stock market is expected to gradually return to its own rhythm.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18338', 'image' => '20230731063910_1530530135-scaled.jpg', 'article_date' => '2023-07-31 18:38:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18608', 'article_category_id' => '1', 'title' => 'Country Reports 77 Percent Rice Transplantation till Last Week of July', 'sub_title' => '', 'summary' => 'As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 31: As of July 28, the rice transplantation rate in the country stands at 77 percent, according to the Agriculture Information and Training Center.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This marks a decrease compared to the corresponding period last year when 90 percent of rice cultivation had already been completed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Across the country, paddy has been planted in a total area of 1,053,404 hectares out of 1,357,816 hectares as of the last week of July. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Koshi Province, the rice cultivation rate is currently at 84 percent, which is a slight drop from 88 percent during the same period last year. Rice transplantation has taken place on 275,133 hectares of land in the province this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Rice has been cultivated in 209,086 hectares, accounting for 59 percent of the total 354,383 arable land in Madhes Province. This is lower than the figure reported during the same period last year, which was 83 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Bagmati Province, the rice cultivation rate currently stands at 72 percent, a significant decrease from 93 percent during the same period last year. The province has reported rice transplantation on 81,420 hectares out of the total 113,083 hectares of land suitable for rice cultivation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Out of the total 104,622 hectares of arable land, paddy transplantation has taken place in 85,790 hectares so far (82 percent) in Gandaki Province. This represents a decrease from 96 percent during the same period last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Lumbini Province, paddy cultivation has been completed in 243,318 hectares of the total 300,392 hectares (81 percent). This is a decrease from 85 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Karnali Province has reported the paddy transplantation in 32,918 hectares of the total 38,727 hectares (85 percent), showing an increase from 78 percent last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In Sudurpaschim Province, paddy plantation has been completed in 169,761 hectares out of a total of 171,476 hectares (99 percent). The same percentage of paddy cultivation took place during the same period last year, according to the Centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Overall, the country's rice transplantation progress is at 77 percent, with some provinces experiencing better results than others compared to the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Agriculture Information and Training Center is closely monitoring the situation as the rice cultivation season continues. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18337', 'image' => '20230731052041_collage (2).jpg', 'article_date' => '2023-07-31 17:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18606', 'article_category_id' => '1', 'title' => 'Arrival of Tourists in Off-Season Elates Tourism Entrepreneurs of Sauraha ', 'sub_title' => '', 'summary' => 'July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Hotel entrepreneurs of Sauraha are elated with the rising inflow of tourists in the district despite increasing risks in the travel during the rainy season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">July and August are considered off-season in terms of the inflow of tourists. Due to shrinking business in the rainy season, the hotel staff were also encouraged to stay on leave in previous years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the increasing flow of domestic and foreign tourists in the off-season this time has elated the tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chairperson of the Regional Hotel Association, Chitwan, Ganga Giri, 1000 to 1200 tourists are arriving in Sauraha on an average day in this season. Half of them are foreigners with dominant number of Chinese tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are 125 hotels in Sauraha having capacity to accommodate 6,200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing number of tourists in the off-season has excited tourism entrepreneurs here, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 100 tourists are enjoying elephant ride in Sauraha on a daily basis, informed chairperson of United Elephant Operators' Cooperative organization, Rishi Tiwari. Mostly the Chinese tourists are enjoying elephant ride, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The number of tourists in Sauraha is higher than it was in the previous years. Former chairperson of Regional Hotel Association, Suman Ghimire said the arrival of tourists is satisfactory despite bad condition of roads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has made entrepreneurs hopeful for the rebound of tourism industry in Nepal, Ghimire said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18335', 'image' => '20230731020930_20220909043430_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2023-07-31 14:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18605', 'article_category_id' => '1', 'title' => 'PAC Draws Parliament's Attention to Form High-Level Body to Probe 100 kg Gold Smuggling Case ', 'sub_title' => '', 'summary' => 'July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Public Accounts Committee (PAC) has drawn the attention of the parliament to form a high-level committee to probe the 100 kg gold smuggling case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Sunday called for forming the high-powered committee to investigate the case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The committee has taken a decision to draw the attention of the parliament to form a high level committee for investigation," said Arjun Narsingh KC, who chairs the committee as its senior-most member. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting endorsed the 'Public Accounts Committee Operation Procedures, 2080'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee also drew the attention of the concerned authorities to the inability of planting paddy in the Tarai for want of irrigation, and water scarcity. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18334', 'image' => '20230731125034_goldee.jpg', 'article_date' => '2023-07-31 12:49:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18604', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms and Lightning Likely Today', 'sub_title' => '', 'summary' => 'July 31: The country is under the influence of monsoon winds at present. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The country is under the influence of monsoon winds at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division under the Department of Hydrology and Meteorology, there will be partial to general changes in weather across the country in the day time today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rainfall is taking place in some areas of the Gandaki and Lumbini provinces and one to two places of the Koshi, Bagmati and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a chance of light to moderate rainfall in some areas of mountainous region and limited areas of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is predicted that one to two areas of Koshi, Bagmati, Gandaki and Lumbini provinces will see heavy rain with thunderstorms and lightning later in the day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the night time, there is a chance of heavy rainfall with thunderstorms and lightning in one or two places of the Koshi, Bagmati, Gandaki and Lumbini provinces. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18333', 'image' => '20230731105714_rain.jpeg', 'article_date' => '2023-07-31 10:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18603', 'article_category_id' => '1', 'title' => 'SC Issues Interlocutory Order not to Implement VAT on Air Tickets ', 'sub_title' => '', 'summary' => 'July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The Supreme Court on Sunday issued an interlocutory order asking the government to not implement value added tax (VAT) on air tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC issued such an order in response to a writ petition filed by Nepal Association of Tours and Travels Agent (NATTA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Anil Kumar Sinha issued the order and also summoned the government side for discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA had moved the SC on July 17, seeking mandamus order with certiorari against the government’s decision to impose VAT on air tickets.</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 Prakash Sharan Mahat had announced to implement VAT on plane tickets during the budget announcement for the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism entrepreneurs had however argued that the VAT imposed on air tickets was not friendly to tourism entrepreneurs and would impact adversely on the tourism business. Travel companies and passengers would have to bear the brunt of VAT, NATTA had argued. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18332', 'image' => '20230731103836_Tourist.jpg', 'article_date' => '2023-07-31 10:37:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</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 policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</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"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</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 interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</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"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</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"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </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"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 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"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</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"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</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"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</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 Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</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 monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</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"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</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"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="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 new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <p><span style="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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="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 procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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 a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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 former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
