July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data…
July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data…
July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British…
July 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous…
July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started…
July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic…
July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last…
Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by…
Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food…
The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093…
July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July…
The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue…
July 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities…
July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest…
July 24: The Honorary Consular Corps - Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new…
July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Kathmandu District Police Range, the cases of banking fraud and other economic offences have significantly soared here in recent times. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the fiscal year 2020/21, a total of 5,662 cases of crimes were registered in Kathmandu and this number increased to 8,977 in the following year and further rose to 13,464 in the fiscal year 2022/23. Notably, more than half of these cases, specifically 7,101 cases, were related to banking fraud. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 2,894 were related to abuse, 647 involved theft, 414 were associated with swindling, 368 were related drug abuse and smuggling, 357 were related to suicide incidents, and 326 were related to women and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 189 cases were related to traffic accidents and injuries, 27 cases were about murder, and 1,141 cases were related to other forms of offences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Superintendent of Police, Dan Bahadur Karki, said the data presents the escalating trend of banking fraud and other economic offences in Kathmandu lately. This includes banking fraud, bounced checks, swindling through lottery scams, and deceptive promises of lucrative employment opportunities abroad. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18288', 'image' => '20230725045808_Kathmandu Valley.jpg', 'article_date' => '2023-07-25 16:53:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18558', 'article_category_id' => '1', 'title' => 'British Council Launches IELTS Ready: Premium', 'sub_title' => '', 'summary' => 'July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the British Council, the new platform will provide personalised IELTS resources to British Council test takers according to their progress. It includes 40 IELTS mock tests, and recorded classes and will be fully supported by native English-speaking IELTS experts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers can perfect their IELTS preparation with practice tests in both timed and untimed formats, with all answers analysed to inform the most useful exercises for test-takers to practice, reads a press statement issued by the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The IELTS Ready: Premium platform is powered by Guided e-Learning (GEL), a leading provider of digital learning in English Language Teaching based in London.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers will also be able to access writing practice with model answers to show what examiners are looking for to achieve the required scores. Likewise, they will also be able to get feedback from IELTS experts on every reading and listening question. Tailored support to target areas where test takers need to improve and familiarisation videos so test takers are prepared for their test are also accessible, added the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers receive unlimited free access to IELTS Ready: Premium from the time they register for IELTS with the British Council up to their test.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During a successful pilot period, the platform achieved high levels of user satisfaction and engagement amongst test takers. According to the British Council, 97 percent of users said it helped them achieve their desired score and 98 percent said they would recommend the service to others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Maxim Raimann, General Manager at the British Council Nepal, said that the institute wanted to give IELTS test takers every tool to achieve their ambitions of living, working or studying overseas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We are therefore excited to launch IELTS Ready: Premium, to help them feel fully prepared and have the best chance to fulfil those dreams,” he added. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18287', 'image' => '20230725040215_IELTS.jpg', 'article_date' => '2023-07-25 16:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18557', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Shrinks while Trade Deficit Stands at Rs 1454 Billion', 'sub_title' => '', 'summary' => 'July 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year.', '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 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year. Last year, imports decreased by Rs 308.71 billion and exports decreased by Rs 42.89 billion, the Department of Customs announced on Monday.</span></span></span></span></p> <p><span style="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 total foreign trade, which exceeded Rs 2120.47 billion in the year 2021/22, decreased to Rs 1768.87 billion in FY 2022/23. Last year, imports decreased by 16.08 and exports by 21.44 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The size of the foreign trade shrunk due to the government's policy of discouraging imports, which contributes more than 90 percent to the total foreign trade. The government had imposed a ban on the import of some luxury items for almost half of the last fiscal year due to the decrease in foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government had announced incentives for exports, there was a decline in items sent overseas from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Exports from Nepal decreased mainly after India reduced the customs duty imposed on the import of raw materials required for making edible oil. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepali businessmen used to bring unrefined oil from abroad, process it and export it to India when India had imposed a 40 percent duty on the import of edible oil raw materials from countries other than the South Asian Free Trade Area (SAFTA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While exporting edible oil from Nepal to India, only 5 percent duty was paid under the SAFTA facility. Later, after India reduced the duty on crude oil export to 2.5 percent, the export from Nepal was negatively affected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Trade deficit with 132 countries</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year 2021/22, the country traded with 170 countries of the world and had a trade deficit with 132 countries. There was profit in trade with 38 countries only. Experts say that the trade deficit is increasing due to the lack of domestic products for export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal’s trade deficit with India was the highest of all while it made profit in foreign trade with Denmark the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Governor of Nepal Rastra Bank Chiranjeevi Nepal says that the trade deficit will not reduce unless Nepal encourages domestic production. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't have internal production at all. We have only been importing," says former governor Nepal. "To reduce the trade deficit, the government should designate special areas and promote domestic production."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is a practice of importing unnecessary goods in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Nepali nationals have been making good income through remittance. Therefore, there is a tendency to import unnecessary goods,'' he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the government should promote exports by encouraging the production of goods that have potential in the international market. If that is done, the trade deficit with the partner countries can be gradually reduced.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18286', 'image' => '20230725032424_trade_imbalance.jpg', 'article_date' => '2023-07-25 15:23:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18556', 'article_category_id' => '1', 'title' => 'Dusit Thani Himalayan Resort Starts Operation ', 'sub_title' => '', 'summary' => 'July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Managed by Dusit International, one of Thailand’s leading hotel and property development companies, the resort combines Dusit’s unique brand of Thai-inspired gracious hospitality with local culture and traditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Dusit Thani literally means ‘Town in Heaven’. Our resort is just over an hour's drive from Tribhuvan International Airport and</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">25km from Bhaktapur Durbar Square, a UNESCO World Heritage Site,” shares Alina Shakya, marketing staff of the resort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort greets guests with a personal butler – a first-of-its-kind experience in Nepal – ensuring impeccable service and a truly unique experience throughout their stay. The resort also aims to redefine hospitality by offering an unrivalled wellness experience that resonates with guests and the local community.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of its initial opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, offers 28</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">exquisitely designed rooms including four junior suites and 18 luxurious residences managed by Dusit at affordable rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The opening of Dusit Thani Himalayan Resort Dhulikhel, Nepal marks the beginning of</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">an exciting chapter in Dhulikhel’s hospitality landscape, says Kris Panya, general manager of Dusit Thani Himalayan Resort Dhulikhel, Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are thrilled to unveil this magnificent haven that reflects our core values of care and commitment. We aspire to treat every guest as a cherished member of our own family and ensure an unparalleled level of personalized service and attention while also promoting</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">the local community around," he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy sweeping views of the valley and the awe-inspiring 180-degree Himalayan vista from their private balconies, guaranteeing a serene retreat that provides a taste of the luxurious offerings to come, Shakya added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The second phase of the resort, slated to open at the end of the year, will feature an additional 44 rooms, bringing the total number of rooms to 72.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">At Dusit Thani Himalayan Resort Dhulikhel, Nepal, wellness takes centre stage. Dusit’s signature Devarana Wellness offers an array of tailored wellness activities and experiences that cater to individual preferences and needs, the resort said in a statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Whether indulging in a rejuvenating spa treatment that blends ancient Thai and traditional Himalayan healing therapies, practising yoga amidst nature's embrace, or exploring the surrounding trails</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">for a soul-soothing hike, guests will discover a sanctuary that fosters holistic well-being.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy the stunning views of the Himalayas and valleys from the infinity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">swimming pool and outdoor jacuzzi, and also take advantage of the steam, sauna, and fitness centre facilities for a complete wellness experience, says Shakya.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In line with Dusit’s commitment to creating extraordinary moments for guests, dining at the resort is another exceptional experience. Led by Executive Chef Bhavi Khanal, winner of The Best International Executive Chef category at the Galaxy Excellence Awards, the resort’s enticing dining options include Thaan, a versatile multi-cuisine destination, and Bela, a lively poolside bar with a welcoming ambience. Locally sourced ingredients and expertly crafted menus and cocktails combine to deliver a culinary adventure that delights all the senses, the resort operators said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort also provides ample space for memorable meetings and events, catering to intimate gatherings and large-scale celebrations. Designed with versatility in mind, the grand ballroom expands to 226 sq m and has the remarkable capacity to comfortably host up to 350 guests, creating an ideal setting for grand weddings and other noteworthy occasions.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Thani Himalayan Resort Dhulikhel, Nepal, also offers the unique advantage of combining the grand ballroom with a meticulously manicured lawn spanning an expansive 540 sq m. This seamless fusion of indoor and outdoor spaces enables the resort to cater to events with extensive guest lists. Operators of Dusit Thani claimed that it is the only resort in the vicinity to provide such comprehensive services.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"From the inception of this project, I have envisioned a sanctuary nestled amidst the awe-inspiring beauty of the Himalayas, where guests could immerse themselves in a world of bespoke luxury and authentic local experiences. So, when your passion and dreams come true, it’s a completely different feeling. And today, I am overwhelmed with joy and pride as we open our doors to the world," Marvendra Mor, principal partner of Omstone Asia Capital Nepal Pvt Ltd, the company which owns Dusit Thani Himalayan Resort Dhulikhel, Nepal said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Babita Hamal, Managing Director of Omstone Asia Capital Nepal Pvt. Ltd said that her team is delighted to invite the world to experience the unparalleled grandeur of the luxury resort. "We look forward to promoting Dhulikhel as a premier tourist destination in Nepal,” she added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, is offering a special New Himalayan Hideaway room package, including daily breakfast at Thaan, complimentary afternoon tea at Bela Bar, a complimentary 30-minute neck and shoulder massage at Devarana Wellness for two, a 15% discount on F&B and spa treatments, a complimentary guided visit to Namo Buddha, and more exclusive benefits.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18285', 'image' => '20230725044755_470727500.jpg', 'article_date' => '2023-07-25 14:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18555', 'article_category_id' => '1', 'title' => 'Monetary Policy Issued by Central Bank cannot Resolve Economic Crisis: Private Sector', 'sub_title' => '', 'summary' => 'July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reacting to the monetary policy issued by the central bank on Sunday, the private sector stakeholders said in a joint statement on Monday that the monetary policy does not meet the expectations of addressing the challenges of the economy, including high-interest rates, low demand, cash flow problems, low production and job cuts, declining morale of the private sector and postponement of new investment plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"The policy taken by the central bank through monetary policy does not seem to help in lifting the economy out of recession," said the joint statement. The statement added that even if the central bank's monetary policy has been carefully and flexibly drafted to keep the economy running, the provisions in the policy prove otherwise.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year's monetary policy fixed the credit flow to the private sector at 12.6 per cent, but for the current year, the target has been reduced to 11.5 per cent. According to the private sector, it will be difficult to achieve the economic growth rate of 6 per cent taken by the government through the budget when the credit going to the private sector is reduced. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private sector was expecting the central bank to take initiatives to control the increase in high-interest rates through monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“NRB has reduced the policy rate by 0.5 per cent while keeping the bank rate unchanged. It does not seem to help in reducing the interest rate. It is necessary to use all the tools to reduce the base rate of the banks," the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organisations argue that the economy will not be sustainable unless the monetary policy addresses the suggestions of the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">One of the major demands of the private sector is the borrowers should be provide facilities for refinancing.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18284', 'image' => '20230725010849_economic crisis.jpg', 'article_date' => '2023-07-25 13:08:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18554', 'article_category_id' => '1', 'title' => 'Heavy Rain Lashes Lumbini Province, Authorities Call for Alert', 'sub_title' => '', 'summary' => 'July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night. Heavy precipitation has been recorded in Rupandehi, Palpa, Nawalparasi, Pyuthan and surrounding places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The risk of flooding has increased in settlements close to the bank of Tinau River which has become swollen following the heavy rainfall. The Tinau Flood Measurement Centre Butwal stated that the water level in the Tinau River has crossed the danger mark and it continues to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People living in settlements near the river bank and at low-lying areas have been notified to evacuate to safe places by today afternoon considering the risk of flooding in the areas. The Meteorological Forecasting Division has issued alert to residents of low-lying areas and settlements close to the river banks, and those preparing for travel to take precaution. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Main roads obstructed due to heavy rainfall</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, roads have been blocked by landslides triggered by incessant rainfall at various places in Palpa, Arghakhanchi, Pyuthan, among the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Highway Security and Traffic Management Office Butwal said the Butwal-Palpa, Gorusinge-Sandhikharka and Bhaluwang-Pyuthan roads have been obstructed by landslides at different places. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18282', 'image' => '20230725120800_Capture2023-07-04-10-44-08 - Copy.jpeg', 'article_date' => '2023-07-25 12:07:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18552', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Receives National Excellent Annual Report Award 2022', 'sub_title' => '', 'summary' => 'Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 25: Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank received the 'Bronze Award' in the banking sector. ICAN awarded the bank for the publication of its outstanding financial report in the banking sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a program held in Kathmandu recently, Finance Minister Dr. Prakash Sharan Mahat handed over the award to the bank's Deputy Chief Executive Officer and Chief Financial Officer, Mohammad Rizwan Alam. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank currently provides services through 93 branches, 22 extension counters, 7 provincial offices, and one corporate office, and 128 ATMs across the country. </span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18281', 'image' => '20230725060118_collage (3).jpg', 'article_date' => '2023-07-25 05:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18551', 'article_category_id' => '1', 'title' => 'More Import Tax to Become Self-reliant, Says Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 25: Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At a programme organized in Bhairahawa, Minister Mahat explained that taxes were increased on the imports of essential commodities with an objective to reduce reliance on such commodities and thereby increase self-increase.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Bemoaning that there was no adequate agricultural production although Nepal is an agricultural country, Mahat said that Value Added Tax(VAT) was imposed in the essential commodities to encourage domestic production of agrarian commodities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">"We are about to gaining self-sufficiency in potato and onion production. This might have brought cheer to those producing agriculture products," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">When asked about party leader Bal Krishna Khand, who is currently in police custody due to his alleged involvement in the fake Bhutanese refugee scam, Mahat clarified that violators of law are never protected by his party. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Mahat clarified that his party will not take action against Khand just on the basis of allegation. “An impartial investigation should be launched into the case rather than making it a vendetta," the Minister said, adding that the culprit should not be spared while the innocent should not be convicted. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18280', 'image' => '20230725054527_collage (2).jpg', 'article_date' => '2023-07-25 05:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18550', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2221 Billion', 'sub_title' => '', 'summary' => 'The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">July 24: The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">The public debt witnessed a significant increase of over Rs 200 billion in the last fiscal year alone. At the end of the previous year, the total public debt stood at Rs 2,012 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">However, during the last fiscal year, the internal debt rose by Rs 140 billion, while the external loan surged by Rs 675 billion, as reported by the Public Debt Management Office.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Notably, the principal and interest obligations for the public debt have become almost equal to the country's capital expenditure. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">In the fiscal year 2022-23, Nepal's capital expenditure amounted to Rs 233 billion and 690 million. During the same period, the government paid a substantial amount of Rs 222 billion 742 million and 100 thousand to service the principal and interest for the public debt.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Out of this sum, Rs 179 billion 725 million and 300 thousand were utilized to service the principal and interest of internal loans, while Rs 43 billion 16 million and 800 thousand were spent on servicing the principal and interest of external loans. (RSS)</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18279', 'image' => '20230724061708_collage (2).jpg', 'article_date' => '2023-07-24 18:15:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18549', 'article_category_id' => '1', 'title' => 'Dusit Chain makes Debut in Nepal with the Opening of Hotel Dusit Princess', 'sub_title' => 'The 5-star franchise of Dusit International has an investment of Rs 250 crores', 'summary' => 'July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu is located in the vibrant Lazimpat neighbourhood and is a short-distance walk from the Narayanhiti Palace Museum and just 18 minutes by car from the Tribhuvan International Airport. The hotel is designed to appeal to business and leisure travellers who appreciate comfort, value, and convenience, shared Khando Gurung, marketing chief of the hotel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thoughtfully designed to reflect local culture and architecture, the hotel property offers an oasis for relaxation amidst the buzz of the city. The hotel has 107 comfortable and well-furnished guest rooms ranging from 28 to 62 sq meters, along with a presidential suite covering 159 sq meters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the hotel boasts a specialty Thai restaurant Soi; a Dusit Gourmet outlet featuring freshly baked pastries, artisanal sandwiches, and ‘deli bites’; and a rooftop Kibu Sky lounge with panoramic city view. Likewise, the Rooftop Blue Bar at the hotel has the city’s highest infinity pool.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We promise to exceed your expectations and provide an experience that will leave</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">you with cherished memories for years to come,” said Tenzin Zoepa Lama, chairman of Dusit Princess Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reflecting Dusit’s group-wide focus on wellness, Dusit Princess Kathmandu said it will soon open a Crest spa offering a wide range of Thai-inspired massage therapies and beauty treatments. The spa will have a steam room, sauna, and fully equipped Crest club along with a gym available for guests seeking to pause, refresh, and reinvigorate themselves to their utmost comfort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Through this endeavour, I am committed to supporting the country's tourism growth, creating opportunities for local communities, and showcasing the richness of our cultural heritage,” he added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu also offers a selection of versatile meeting spaces. Among them is the stunning rooftop venue, ‘Vista,’ featuring floor-to-ceiling windows and panoramic city views for up to 35 guests.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The elegant Princess Ballroom is available to host larger gatherings for up to 250 attendees, Lumbini 1 and Lumbini 2 halls are available for meetings and small gatherings for up to 35-40 people. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dorje Lama, managing director of Dusit Princess Kathmandu, shared that the hotel aspires to be a symbol of Nepal's excellence in hospitality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are unwaveringly dedicated to exceptional service, attention to detail, and commitment to sustainability which will ensure that the guests have an extraordinary and authentic experience throughout their stay,” he expressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Princess Kathmandu is offering a special opening offer starting at only NPR 16,500 (USD 125) per night for a superior room with breakfast for two and set dinner at specialty Thai restaurant SOI, valid until September 17, 2023.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18278', 'image' => '20230724050128_1023456324.jpg', 'article_date' => '2023-07-24 17:00:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18548', 'article_category_id' => '1', 'title' => 'BPKIHS Launches 30-Bed Dengue Ward Amidst Soaring Dengue Fever Cases', 'sub_title' => '', 'summary' => 'The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 24: The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The dedicated ward commenced its operations on Sunday in response to the escalating dengue outbreak in Dharan sub-metropolis, Sunsari, and its neighboring regions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the relentless surge in dengue cases in Sunsari and surrounding areas, the existing medical facilities at BPKIHS, including the 'central emergency' and the 'dengue clinic,' have become insufficient to cope with the situation, according to BPKIHS acting vice-chancellor Prof Dr. Prahlad Karki.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 50-bed 'observation ward' has been overwhelmingly occupied by dengue patients in the past two days. Currently, an alarming 85% of the ward's beds are filled with dengue patients. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the hospital's emergency ward has been inundated with 60 to 75 dengue cases daily.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18277', 'image' => '20230724044303_collage (1).jpg', 'article_date' => '2023-07-24 16:41:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18546', 'article_category_id' => '1', 'title' => 'New Monetary Policy is ‘Cautiously Flexible’', 'sub_title' => '', 'summary' => 'July 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.', '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"">Yadav Humagain</span></span></span></span></p> <p><span style="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 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.</span></span></span></span></p> <p><span style="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 central bank has made some changes in the monetary policy and included some flexible provisions after the increase in the net savings, comfortable foreign exchange reserves and taming of inflation within the limits. In addition to reducing the bank rate through the policy, the NRB has announced that it will review the existing risk weighting arrangements for share mortgages, real estate and hire purchase loans and also review the current capital loan guidelines. It has indicated that it is trying to address the demands of the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the central bank has indicated that the policy rate will be set based on the ability of the foreign exchange reserves to support imports and the annual target inflation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a press conference held after announcing the monetary policy, NRB Governor Maha Prasad Adhikari said that the central bank has become flexible to keep domestic economic activities running while being aware of the state of the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Tight monetary policy is still in place in the big economies around the world while there is a pressure on inflation," he said, "We have become somewhat flexible to make the internal economy run. The policy will be revised in the future depending on the situation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Efforts to reduce interest rates</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has tried to reduce the interest rate which had reached a high point due to the previous monetary policy. The policy rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent through the monetary policy of the last fiscal year (FY), has been reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> base points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the current fiscal year. Similarly, the deposit collection rate has also been reduced from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The bank rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent last year, was reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent from the third quarter review of the monetary policy during last FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank said that when the policy rate decreases, the cost of liquidity management of banks will be reduced and the interest rate of loans will be cheaper. However, the ability of banks to extend credit has not increased as the central bank has not changed the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, in the monetary policy, the central bank has indicated that the policy rate will be set based on the capacity of the foreign exchange reserves to support imports and the annual target inflation, and has also indicated that it will be tightened at any time based on external sector pressure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Relief for real estate, shares and auto loans</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Through monetary policy, the central bank has tried to provide relief to the loans for the housing, real estate, share mortgage and automobile sectors.</span></span></span></span></p> <p><span style="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 monetary policy mentions that the first residential home loan limit will be increased from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million. Similarly, the NRB has announced to review the existing risk weighting arrangements for share mortgage, real estate and hire purchase loans. In the press conference, the central bank officials said that the risk burden of share mortgage loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million, new real estate loans and auto loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million will be reduced and maintained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, there is a provision that the risk weight of loans flowing through share securities should be kept at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of more than that amount. Similarly, in real estate and auto loans, the risk weight is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks have been reluctant to extend loans in these areas due to the high risk burden. Likewise, the central bank has tried to address the demands of businessmen by stating that the current capital loan guidelines will also be reviewed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Reduction of microfinance, facilitation of cooperatives</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past years, the central bank had adopted a policy of reducing the number of banks and financial institutions, but in the current fiscal year, it has announced that it will reduce the number of microfinance institutions. In the monetary policy, it has been mentioned that mergers and acquisitions of microfinance institutions will be encouraged so that existing facilities will be available if integrated transactions are conducted by the end of the current fiscal year (mid-July 2024)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="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, NRB announced that the recommendations of the report prepared by the study committee on the problems of microfinance companies will be implemented gradually. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid growing demand for the central bank to monitor cooperatives, the NRB said it will facilitate to create a separate institution for monitoring the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As mentioned in the current year's budget, the monetary policy states that necessary facilitation will be done to establish a separate specialized regulatory body for effective regulation and supervision of savings and credit cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rs </span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562</span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion loan for economic growth</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to achieve the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent economic growth target set by the government in the budget of the current fiscal year, the central bank has set a target of extending loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Stating that the priority is to flow financial resources to the productive sector in order to help achieve economic growth, the loan from banks and financial institutions to the private sector in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is expected to grow by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The goal of the monetary policy is to manage the monetary system so as not to put pressure on the prices from the monetary expansion and to maintain inflation within 6.5 percent and to maintain the foreign exchange reserves to meet the import of goods and services for at least 7 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has imposed a 5 percent tax to discourage Nepalis from going on foreign trips, the central bank has increased the foreign facility for passport holders. It is mentioned in the monetary policy that Nepalese citizens visiting countries other than India will be provided with facilities exchange for up to US$ 1,500 twice in a year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Large debtors under surveillance</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has announced that it will monitor the big borrowers through monetary policy. The NRB mentioned that a separate guidelines will be issued to make the supervision of large borrowers effective. </span></span></span></span></p> <p><span style="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, the NRB said that the existing Banking Offenses Act, 2064 will be amended in order to assist in controlling non-commercial and disorderly activities that affect the stability of the financial sector. Reforms have also been announced in the monetary policy, including issuing a 'Stress Loan Resolution Framework' to restructure the credit of troubled borrowers, implementing a system for national level development banks to maintain capital in accordance with the Capital Adequacy Framework, reviewing credit investment systems in designated areas, and central customer identification systems based on national identity cards.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18275', 'image' => '20230724024424_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-24 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18545', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Announce Series of Protest Programmes', 'sub_title' => '', 'summary' => 'July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation announced the protest program demanding the release of payments of all construction projects in lump sum and the extension of the deadline of all the projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government has already extended the deadline of infrastructure projects by publishing a notice in the Nepal Gazette as per the request of the construction entrepreneurs. However, the contractors say that their demands have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The contractors announced the protest programmes on Sunday following a national meet of more than 400 construction entrepreneurs from all across the nation held in the capital on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Organising a press conference, the federation stated that the government has withdrawn from its commitments and therefore the contractors decided to hold the protest. FCAN argued that the government is yet to fulfill their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation, said that the government should adjust prices to address the excessive and unexpected price hike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, other demands put forward by the federation include termination of stalled and problematic projects that have not shown any progress due to lack of budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They have also demanded that cheque bounce and confiscation of bank guarantees should be stopped, the increase in the premium rate of insurance should be cancelled, the remaining arrears of income tax and value-added tax (VAT) deducted at source should be submitted to the revenue department on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation has also demanded that the provision of construction by the consumer committee should be abolished and that the public procurement act and rules related to infrastructure should be business-friendly. Singh said that more than 24,000 construction workers across the country have been affected because the government is not business-friendly. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Singh made it clear that if the government fulfils the demands of the federation, all the protest programs will be withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Yaksha Dhwaj Karki, advisor and former president of the federation, said that the problems in the construction industry have increased due to the non-inclusion of construction professionals while amending the laws and regulations related to public procurement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of the program of the movement, the federation will submit a memorandum with an ultimatum to the prime minister on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On Tuesday, seven state federations will submit a memorandum with an ultimatum to the chief minister and 77 district federations to the district administration offices. From July 26 to 30, there is a program to inform the presidents of various political parties, concerned federal government agencies, and the state federation about their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, on July 30, the federation has announced a one-hour protest at the Public Procurement Monitoring Office from 10:00 am to 11:00 am, and from the same day, a 1-hour protest will be held at the offices of the chief ministers of all seven provinces and district administration offices. The federation said that they will hold a sit-in protest for one hour in front of the prime minister's residence on July 31 and will hold a strong demonstration in the federal capital with construction equipment<strong> </strong>and tools until their demands are met.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18274', 'image' => '20230724020921_20220418055544_fcan-building.jpg', 'article_date' => '2023-07-24 14:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18544', 'article_category_id' => '1', 'title' => 'Honorary Consular Corps Nepal Nominates Vishnu Agrawal as its New Dean', 'sub_title' => '', 'summary' => 'July 24: The Honorary Consular Corps - Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 24: The Honorary Consular-Corps Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agrawal is the immediate past president of the Confederation of Nepalese Industries (CNI). He is also the honorary consul general of the Czech Republic since 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to HCC-N, Agrawal was appointed the honorary consul of the Czech Republic in 2010 and was promoted to the post of honorary consul general in 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a statement on Sunday, HCC-N confirmed that the 16<sup>th</sup> Annual General Meeting of the organization nominated Agrawal as the new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The AGM was attended by Vice President Ram Sahay Yadav and Minister for Foreign Affairs NP Saud, added the statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at the inauguration of the AGM, Vice President Yadav expressed his gratitude for the immense contributions made by the honorary consul generals of 59 countries with whom Nepal has established diplomatic relations but does not have permanent residential envoys.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The need of the present day is to maintain cordial relations with all the nations of the world to support Nepal’s goal of attain economic prosperity. I am expecting a constructive role from HCC-N in this regard,” said Vice President Yadav.</span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18273', 'image' => '20230724011342_HCCN AGM.JPG', 'article_date' => '2023-07-24 13:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18543', 'article_category_id' => '1', 'title' => 'Six More Arrested Including Customs Officials in Connection to Gold Smuggling ', 'sub_title' => '', 'summary' => 'July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer of DRI Nabaraj Adhikari said that the arrested are Customs Officer Santosh Chand, X-ray Operator Saroj Shrestha and Customs Invigilator Kumar Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, customs agents Sudarshan Gautam, Rukmini Subba and Yadav Parajuli were also arrested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 16 individuals have been arrested in this case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had seized the illegally imported gold from Tribhuvan International Airport area that had passed the customs undetected on Wednesday. The gold was brought from Hong Kong. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18272', 'image' => '20230724122702_goldee.jpg', 'article_date' => '2023-07-24 12:26:19', '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' => '18559', 'article_category_id' => '1', 'title' => 'Kathmandu Reports Steady Rise in Crime', 'sub_title' => 'More than Half of the Crimes Reported were Related to Banking Fraud ', 'summary' => 'July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Kathmandu District Police Range, the cases of banking fraud and other economic offences have significantly soared here in recent times. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the fiscal year 2020/21, a total of 5,662 cases of crimes were registered in Kathmandu and this number increased to 8,977 in the following year and further rose to 13,464 in the fiscal year 2022/23. Notably, more than half of these cases, specifically 7,101 cases, were related to banking fraud. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 2,894 were related to abuse, 647 involved theft, 414 were associated with swindling, 368 were related drug abuse and smuggling, 357 were related to suicide incidents, and 326 were related to women and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 189 cases were related to traffic accidents and injuries, 27 cases were about murder, and 1,141 cases were related to other forms of offences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Superintendent of Police, Dan Bahadur Karki, said the data presents the escalating trend of banking fraud and other economic offences in Kathmandu lately. This includes banking fraud, bounced checks, swindling through lottery scams, and deceptive promises of lucrative employment opportunities abroad. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18288', 'image' => '20230725045808_Kathmandu Valley.jpg', 'article_date' => '2023-07-25 16:53:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18558', 'article_category_id' => '1', 'title' => 'British Council Launches IELTS Ready: Premium', 'sub_title' => '', 'summary' => 'July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the British Council, the new platform will provide personalised IELTS resources to British Council test takers according to their progress. It includes 40 IELTS mock tests, and recorded classes and will be fully supported by native English-speaking IELTS experts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers can perfect their IELTS preparation with practice tests in both timed and untimed formats, with all answers analysed to inform the most useful exercises for test-takers to practice, reads a press statement issued by the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The IELTS Ready: Premium platform is powered by Guided e-Learning (GEL), a leading provider of digital learning in English Language Teaching based in London.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers will also be able to access writing practice with model answers to show what examiners are looking for to achieve the required scores. Likewise, they will also be able to get feedback from IELTS experts on every reading and listening question. Tailored support to target areas where test takers need to improve and familiarisation videos so test takers are prepared for their test are also accessible, added the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers receive unlimited free access to IELTS Ready: Premium from the time they register for IELTS with the British Council up to their test.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During a successful pilot period, the platform achieved high levels of user satisfaction and engagement amongst test takers. According to the British Council, 97 percent of users said it helped them achieve their desired score and 98 percent said they would recommend the service to others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Maxim Raimann, General Manager at the British Council Nepal, said that the institute wanted to give IELTS test takers every tool to achieve their ambitions of living, working or studying overseas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We are therefore excited to launch IELTS Ready: Premium, to help them feel fully prepared and have the best chance to fulfil those dreams,” he added. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18287', 'image' => '20230725040215_IELTS.jpg', 'article_date' => '2023-07-25 16:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18557', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Shrinks while Trade Deficit Stands at Rs 1454 Billion', 'sub_title' => '', 'summary' => 'July 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year.', '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 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year. Last year, imports decreased by Rs 308.71 billion and exports decreased by Rs 42.89 billion, the Department of Customs announced on Monday.</span></span></span></span></p> <p><span style="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 total foreign trade, which exceeded Rs 2120.47 billion in the year 2021/22, decreased to Rs 1768.87 billion in FY 2022/23. Last year, imports decreased by 16.08 and exports by 21.44 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The size of the foreign trade shrunk due to the government's policy of discouraging imports, which contributes more than 90 percent to the total foreign trade. The government had imposed a ban on the import of some luxury items for almost half of the last fiscal year due to the decrease in foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government had announced incentives for exports, there was a decline in items sent overseas from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Exports from Nepal decreased mainly after India reduced the customs duty imposed on the import of raw materials required for making edible oil. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepali businessmen used to bring unrefined oil from abroad, process it and export it to India when India had imposed a 40 percent duty on the import of edible oil raw materials from countries other than the South Asian Free Trade Area (SAFTA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While exporting edible oil from Nepal to India, only 5 percent duty was paid under the SAFTA facility. Later, after India reduced the duty on crude oil export to 2.5 percent, the export from Nepal was negatively affected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Trade deficit with 132 countries</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year 2021/22, the country traded with 170 countries of the world and had a trade deficit with 132 countries. There was profit in trade with 38 countries only. Experts say that the trade deficit is increasing due to the lack of domestic products for export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal’s trade deficit with India was the highest of all while it made profit in foreign trade with Denmark the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Governor of Nepal Rastra Bank Chiranjeevi Nepal says that the trade deficit will not reduce unless Nepal encourages domestic production. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't have internal production at all. We have only been importing," says former governor Nepal. "To reduce the trade deficit, the government should designate special areas and promote domestic production."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is a practice of importing unnecessary goods in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Nepali nationals have been making good income through remittance. Therefore, there is a tendency to import unnecessary goods,'' he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the government should promote exports by encouraging the production of goods that have potential in the international market. If that is done, the trade deficit with the partner countries can be gradually reduced.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18286', 'image' => '20230725032424_trade_imbalance.jpg', 'article_date' => '2023-07-25 15:23:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18556', 'article_category_id' => '1', 'title' => 'Dusit Thani Himalayan Resort Starts Operation ', 'sub_title' => '', 'summary' => 'July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Managed by Dusit International, one of Thailand’s leading hotel and property development companies, the resort combines Dusit’s unique brand of Thai-inspired gracious hospitality with local culture and traditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Dusit Thani literally means ‘Town in Heaven’. Our resort is just over an hour's drive from Tribhuvan International Airport and</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">25km from Bhaktapur Durbar Square, a UNESCO World Heritage Site,” shares Alina Shakya, marketing staff of the resort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort greets guests with a personal butler – a first-of-its-kind experience in Nepal – ensuring impeccable service and a truly unique experience throughout their stay. The resort also aims to redefine hospitality by offering an unrivalled wellness experience that resonates with guests and the local community.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of its initial opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, offers 28</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">exquisitely designed rooms including four junior suites and 18 luxurious residences managed by Dusit at affordable rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The opening of Dusit Thani Himalayan Resort Dhulikhel, Nepal marks the beginning of</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">an exciting chapter in Dhulikhel’s hospitality landscape, says Kris Panya, general manager of Dusit Thani Himalayan Resort Dhulikhel, Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are thrilled to unveil this magnificent haven that reflects our core values of care and commitment. We aspire to treat every guest as a cherished member of our own family and ensure an unparalleled level of personalized service and attention while also promoting</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">the local community around," he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy sweeping views of the valley and the awe-inspiring 180-degree Himalayan vista from their private balconies, guaranteeing a serene retreat that provides a taste of the luxurious offerings to come, Shakya added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The second phase of the resort, slated to open at the end of the year, will feature an additional 44 rooms, bringing the total number of rooms to 72.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">At Dusit Thani Himalayan Resort Dhulikhel, Nepal, wellness takes centre stage. Dusit’s signature Devarana Wellness offers an array of tailored wellness activities and experiences that cater to individual preferences and needs, the resort said in a statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Whether indulging in a rejuvenating spa treatment that blends ancient Thai and traditional Himalayan healing therapies, practising yoga amidst nature's embrace, or exploring the surrounding trails</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">for a soul-soothing hike, guests will discover a sanctuary that fosters holistic well-being.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy the stunning views of the Himalayas and valleys from the infinity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">swimming pool and outdoor jacuzzi, and also take advantage of the steam, sauna, and fitness centre facilities for a complete wellness experience, says Shakya.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In line with Dusit’s commitment to creating extraordinary moments for guests, dining at the resort is another exceptional experience. Led by Executive Chef Bhavi Khanal, winner of The Best International Executive Chef category at the Galaxy Excellence Awards, the resort’s enticing dining options include Thaan, a versatile multi-cuisine destination, and Bela, a lively poolside bar with a welcoming ambience. Locally sourced ingredients and expertly crafted menus and cocktails combine to deliver a culinary adventure that delights all the senses, the resort operators said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort also provides ample space for memorable meetings and events, catering to intimate gatherings and large-scale celebrations. Designed with versatility in mind, the grand ballroom expands to 226 sq m and has the remarkable capacity to comfortably host up to 350 guests, creating an ideal setting for grand weddings and other noteworthy occasions.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Thani Himalayan Resort Dhulikhel, Nepal, also offers the unique advantage of combining the grand ballroom with a meticulously manicured lawn spanning an expansive 540 sq m. This seamless fusion of indoor and outdoor spaces enables the resort to cater to events with extensive guest lists. Operators of Dusit Thani claimed that it is the only resort in the vicinity to provide such comprehensive services.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"From the inception of this project, I have envisioned a sanctuary nestled amidst the awe-inspiring beauty of the Himalayas, where guests could immerse themselves in a world of bespoke luxury and authentic local experiences. So, when your passion and dreams come true, it’s a completely different feeling. And today, I am overwhelmed with joy and pride as we open our doors to the world," Marvendra Mor, principal partner of Omstone Asia Capital Nepal Pvt Ltd, the company which owns Dusit Thani Himalayan Resort Dhulikhel, Nepal said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Babita Hamal, Managing Director of Omstone Asia Capital Nepal Pvt. Ltd said that her team is delighted to invite the world to experience the unparalleled grandeur of the luxury resort. "We look forward to promoting Dhulikhel as a premier tourist destination in Nepal,” she added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, is offering a special New Himalayan Hideaway room package, including daily breakfast at Thaan, complimentary afternoon tea at Bela Bar, a complimentary 30-minute neck and shoulder massage at Devarana Wellness for two, a 15% discount on F&B and spa treatments, a complimentary guided visit to Namo Buddha, and more exclusive benefits.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18285', 'image' => '20230725044755_470727500.jpg', 'article_date' => '2023-07-25 14:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18555', 'article_category_id' => '1', 'title' => 'Monetary Policy Issued by Central Bank cannot Resolve Economic Crisis: Private Sector', 'sub_title' => '', 'summary' => 'July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reacting to the monetary policy issued by the central bank on Sunday, the private sector stakeholders said in a joint statement on Monday that the monetary policy does not meet the expectations of addressing the challenges of the economy, including high-interest rates, low demand, cash flow problems, low production and job cuts, declining morale of the private sector and postponement of new investment plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"The policy taken by the central bank through monetary policy does not seem to help in lifting the economy out of recession," said the joint statement. The statement added that even if the central bank's monetary policy has been carefully and flexibly drafted to keep the economy running, the provisions in the policy prove otherwise.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year's monetary policy fixed the credit flow to the private sector at 12.6 per cent, but for the current year, the target has been reduced to 11.5 per cent. According to the private sector, it will be difficult to achieve the economic growth rate of 6 per cent taken by the government through the budget when the credit going to the private sector is reduced. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private sector was expecting the central bank to take initiatives to control the increase in high-interest rates through monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“NRB has reduced the policy rate by 0.5 per cent while keeping the bank rate unchanged. It does not seem to help in reducing the interest rate. It is necessary to use all the tools to reduce the base rate of the banks," the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organisations argue that the economy will not be sustainable unless the monetary policy addresses the suggestions of the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">One of the major demands of the private sector is the borrowers should be provide facilities for refinancing.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18284', 'image' => '20230725010849_economic crisis.jpg', 'article_date' => '2023-07-25 13:08:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18554', 'article_category_id' => '1', 'title' => 'Heavy Rain Lashes Lumbini Province, Authorities Call for Alert', 'sub_title' => '', 'summary' => 'July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night. Heavy precipitation has been recorded in Rupandehi, Palpa, Nawalparasi, Pyuthan and surrounding places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The risk of flooding has increased in settlements close to the bank of Tinau River which has become swollen following the heavy rainfall. The Tinau Flood Measurement Centre Butwal stated that the water level in the Tinau River has crossed the danger mark and it continues to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People living in settlements near the river bank and at low-lying areas have been notified to evacuate to safe places by today afternoon considering the risk of flooding in the areas. The Meteorological Forecasting Division has issued alert to residents of low-lying areas and settlements close to the river banks, and those preparing for travel to take precaution. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Main roads obstructed due to heavy rainfall</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, roads have been blocked by landslides triggered by incessant rainfall at various places in Palpa, Arghakhanchi, Pyuthan, among the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Highway Security and Traffic Management Office Butwal said the Butwal-Palpa, Gorusinge-Sandhikharka and Bhaluwang-Pyuthan roads have been obstructed by landslides at different places. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18282', 'image' => '20230725120800_Capture2023-07-04-10-44-08 - Copy.jpeg', 'article_date' => '2023-07-25 12:07:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18552', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Receives National Excellent Annual Report Award 2022', 'sub_title' => '', 'summary' => 'Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 25: Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank received the 'Bronze Award' in the banking sector. ICAN awarded the bank for the publication of its outstanding financial report in the banking sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a program held in Kathmandu recently, Finance Minister Dr. Prakash Sharan Mahat handed over the award to the bank's Deputy Chief Executive Officer and Chief Financial Officer, Mohammad Rizwan Alam. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank currently provides services through 93 branches, 22 extension counters, 7 provincial offices, and one corporate office, and 128 ATMs across the country. </span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18281', 'image' => '20230725060118_collage (3).jpg', 'article_date' => '2023-07-25 05:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18551', 'article_category_id' => '1', 'title' => 'More Import Tax to Become Self-reliant, Says Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 25: Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At a programme organized in Bhairahawa, Minister Mahat explained that taxes were increased on the imports of essential commodities with an objective to reduce reliance on such commodities and thereby increase self-increase.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Bemoaning that there was no adequate agricultural production although Nepal is an agricultural country, Mahat said that Value Added Tax(VAT) was imposed in the essential commodities to encourage domestic production of agrarian commodities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">"We are about to gaining self-sufficiency in potato and onion production. This might have brought cheer to those producing agriculture products," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">When asked about party leader Bal Krishna Khand, who is currently in police custody due to his alleged involvement in the fake Bhutanese refugee scam, Mahat clarified that violators of law are never protected by his party. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Mahat clarified that his party will not take action against Khand just on the basis of allegation. “An impartial investigation should be launched into the case rather than making it a vendetta," the Minister said, adding that the culprit should not be spared while the innocent should not be convicted. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18280', 'image' => '20230725054527_collage (2).jpg', 'article_date' => '2023-07-25 05:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18550', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2221 Billion', 'sub_title' => '', 'summary' => 'The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">July 24: The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">The public debt witnessed a significant increase of over Rs 200 billion in the last fiscal year alone. At the end of the previous year, the total public debt stood at Rs 2,012 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">However, during the last fiscal year, the internal debt rose by Rs 140 billion, while the external loan surged by Rs 675 billion, as reported by the Public Debt Management Office.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Notably, the principal and interest obligations for the public debt have become almost equal to the country's capital expenditure. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">In the fiscal year 2022-23, Nepal's capital expenditure amounted to Rs 233 billion and 690 million. During the same period, the government paid a substantial amount of Rs 222 billion 742 million and 100 thousand to service the principal and interest for the public debt.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Out of this sum, Rs 179 billion 725 million and 300 thousand were utilized to service the principal and interest of internal loans, while Rs 43 billion 16 million and 800 thousand were spent on servicing the principal and interest of external loans. (RSS)</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18279', 'image' => '20230724061708_collage (2).jpg', 'article_date' => '2023-07-24 18:15:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18549', 'article_category_id' => '1', 'title' => 'Dusit Chain makes Debut in Nepal with the Opening of Hotel Dusit Princess', 'sub_title' => 'The 5-star franchise of Dusit International has an investment of Rs 250 crores', 'summary' => 'July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu is located in the vibrant Lazimpat neighbourhood and is a short-distance walk from the Narayanhiti Palace Museum and just 18 minutes by car from the Tribhuvan International Airport. The hotel is designed to appeal to business and leisure travellers who appreciate comfort, value, and convenience, shared Khando Gurung, marketing chief of the hotel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thoughtfully designed to reflect local culture and architecture, the hotel property offers an oasis for relaxation amidst the buzz of the city. The hotel has 107 comfortable and well-furnished guest rooms ranging from 28 to 62 sq meters, along with a presidential suite covering 159 sq meters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the hotel boasts a specialty Thai restaurant Soi; a Dusit Gourmet outlet featuring freshly baked pastries, artisanal sandwiches, and ‘deli bites’; and a rooftop Kibu Sky lounge with panoramic city view. Likewise, the Rooftop Blue Bar at the hotel has the city’s highest infinity pool.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We promise to exceed your expectations and provide an experience that will leave</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">you with cherished memories for years to come,” said Tenzin Zoepa Lama, chairman of Dusit Princess Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reflecting Dusit’s group-wide focus on wellness, Dusit Princess Kathmandu said it will soon open a Crest spa offering a wide range of Thai-inspired massage therapies and beauty treatments. The spa will have a steam room, sauna, and fully equipped Crest club along with a gym available for guests seeking to pause, refresh, and reinvigorate themselves to their utmost comfort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Through this endeavour, I am committed to supporting the country's tourism growth, creating opportunities for local communities, and showcasing the richness of our cultural heritage,” he added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu also offers a selection of versatile meeting spaces. Among them is the stunning rooftop venue, ‘Vista,’ featuring floor-to-ceiling windows and panoramic city views for up to 35 guests.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The elegant Princess Ballroom is available to host larger gatherings for up to 250 attendees, Lumbini 1 and Lumbini 2 halls are available for meetings and small gatherings for up to 35-40 people. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dorje Lama, managing director of Dusit Princess Kathmandu, shared that the hotel aspires to be a symbol of Nepal's excellence in hospitality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are unwaveringly dedicated to exceptional service, attention to detail, and commitment to sustainability which will ensure that the guests have an extraordinary and authentic experience throughout their stay,” he expressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Princess Kathmandu is offering a special opening offer starting at only NPR 16,500 (USD 125) per night for a superior room with breakfast for two and set dinner at specialty Thai restaurant SOI, valid until September 17, 2023.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18278', 'image' => '20230724050128_1023456324.jpg', 'article_date' => '2023-07-24 17:00:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18548', 'article_category_id' => '1', 'title' => 'BPKIHS Launches 30-Bed Dengue Ward Amidst Soaring Dengue Fever Cases', 'sub_title' => '', 'summary' => 'The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 24: The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The dedicated ward commenced its operations on Sunday in response to the escalating dengue outbreak in Dharan sub-metropolis, Sunsari, and its neighboring regions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the relentless surge in dengue cases in Sunsari and surrounding areas, the existing medical facilities at BPKIHS, including the 'central emergency' and the 'dengue clinic,' have become insufficient to cope with the situation, according to BPKIHS acting vice-chancellor Prof Dr. Prahlad Karki.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 50-bed 'observation ward' has been overwhelmingly occupied by dengue patients in the past two days. Currently, an alarming 85% of the ward's beds are filled with dengue patients. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the hospital's emergency ward has been inundated with 60 to 75 dengue cases daily.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18277', 'image' => '20230724044303_collage (1).jpg', 'article_date' => '2023-07-24 16:41:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18546', 'article_category_id' => '1', 'title' => 'New Monetary Policy is ‘Cautiously Flexible’', 'sub_title' => '', 'summary' => 'July 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.', '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"">Yadav Humagain</span></span></span></span></p> <p><span style="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 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.</span></span></span></span></p> <p><span style="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 central bank has made some changes in the monetary policy and included some flexible provisions after the increase in the net savings, comfortable foreign exchange reserves and taming of inflation within the limits. In addition to reducing the bank rate through the policy, the NRB has announced that it will review the existing risk weighting arrangements for share mortgages, real estate and hire purchase loans and also review the current capital loan guidelines. It has indicated that it is trying to address the demands of the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the central bank has indicated that the policy rate will be set based on the ability of the foreign exchange reserves to support imports and the annual target inflation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a press conference held after announcing the monetary policy, NRB Governor Maha Prasad Adhikari said that the central bank has become flexible to keep domestic economic activities running while being aware of the state of the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Tight monetary policy is still in place in the big economies around the world while there is a pressure on inflation," he said, "We have become somewhat flexible to make the internal economy run. The policy will be revised in the future depending on the situation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Efforts to reduce interest rates</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has tried to reduce the interest rate which had reached a high point due to the previous monetary policy. The policy rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent through the monetary policy of the last fiscal year (FY), has been reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> base points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the current fiscal year. Similarly, the deposit collection rate has also been reduced from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The bank rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent last year, was reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent from the third quarter review of the monetary policy during last FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank said that when the policy rate decreases, the cost of liquidity management of banks will be reduced and the interest rate of loans will be cheaper. However, the ability of banks to extend credit has not increased as the central bank has not changed the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, in the monetary policy, the central bank has indicated that the policy rate will be set based on the capacity of the foreign exchange reserves to support imports and the annual target inflation, and has also indicated that it will be tightened at any time based on external sector pressure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Relief for real estate, shares and auto loans</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Through monetary policy, the central bank has tried to provide relief to the loans for the housing, real estate, share mortgage and automobile sectors.</span></span></span></span></p> <p><span style="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 monetary policy mentions that the first residential home loan limit will be increased from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million. Similarly, the NRB has announced to review the existing risk weighting arrangements for share mortgage, real estate and hire purchase loans. In the press conference, the central bank officials said that the risk burden of share mortgage loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million, new real estate loans and auto loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million will be reduced and maintained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, there is a provision that the risk weight of loans flowing through share securities should be kept at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of more than that amount. Similarly, in real estate and auto loans, the risk weight is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks have been reluctant to extend loans in these areas due to the high risk burden. Likewise, the central bank has tried to address the demands of businessmen by stating that the current capital loan guidelines will also be reviewed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Reduction of microfinance, facilitation of cooperatives</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past years, the central bank had adopted a policy of reducing the number of banks and financial institutions, but in the current fiscal year, it has announced that it will reduce the number of microfinance institutions. In the monetary policy, it has been mentioned that mergers and acquisitions of microfinance institutions will be encouraged so that existing facilities will be available if integrated transactions are conducted by the end of the current fiscal year (mid-July 2024)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="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, NRB announced that the recommendations of the report prepared by the study committee on the problems of microfinance companies will be implemented gradually. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid growing demand for the central bank to monitor cooperatives, the NRB said it will facilitate to create a separate institution for monitoring the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As mentioned in the current year's budget, the monetary policy states that necessary facilitation will be done to establish a separate specialized regulatory body for effective regulation and supervision of savings and credit cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rs </span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562</span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion loan for economic growth</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to achieve the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent economic growth target set by the government in the budget of the current fiscal year, the central bank has set a target of extending loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Stating that the priority is to flow financial resources to the productive sector in order to help achieve economic growth, the loan from banks and financial institutions to the private sector in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is expected to grow by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The goal of the monetary policy is to manage the monetary system so as not to put pressure on the prices from the monetary expansion and to maintain inflation within 6.5 percent and to maintain the foreign exchange reserves to meet the import of goods and services for at least 7 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has imposed a 5 percent tax to discourage Nepalis from going on foreign trips, the central bank has increased the foreign facility for passport holders. It is mentioned in the monetary policy that Nepalese citizens visiting countries other than India will be provided with facilities exchange for up to US$ 1,500 twice in a year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Large debtors under surveillance</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has announced that it will monitor the big borrowers through monetary policy. The NRB mentioned that a separate guidelines will be issued to make the supervision of large borrowers effective. </span></span></span></span></p> <p><span style="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, the NRB said that the existing Banking Offenses Act, 2064 will be amended in order to assist in controlling non-commercial and disorderly activities that affect the stability of the financial sector. Reforms have also been announced in the monetary policy, including issuing a 'Stress Loan Resolution Framework' to restructure the credit of troubled borrowers, implementing a system for national level development banks to maintain capital in accordance with the Capital Adequacy Framework, reviewing credit investment systems in designated areas, and central customer identification systems based on national identity cards.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18275', 'image' => '20230724024424_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-24 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18545', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Announce Series of Protest Programmes', 'sub_title' => '', 'summary' => 'July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation announced the protest program demanding the release of payments of all construction projects in lump sum and the extension of the deadline of all the projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government has already extended the deadline of infrastructure projects by publishing a notice in the Nepal Gazette as per the request of the construction entrepreneurs. However, the contractors say that their demands have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The contractors announced the protest programmes on Sunday following a national meet of more than 400 construction entrepreneurs from all across the nation held in the capital on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Organising a press conference, the federation stated that the government has withdrawn from its commitments and therefore the contractors decided to hold the protest. FCAN argued that the government is yet to fulfill their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation, said that the government should adjust prices to address the excessive and unexpected price hike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, other demands put forward by the federation include termination of stalled and problematic projects that have not shown any progress due to lack of budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They have also demanded that cheque bounce and confiscation of bank guarantees should be stopped, the increase in the premium rate of insurance should be cancelled, the remaining arrears of income tax and value-added tax (VAT) deducted at source should be submitted to the revenue department on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation has also demanded that the provision of construction by the consumer committee should be abolished and that the public procurement act and rules related to infrastructure should be business-friendly. Singh said that more than 24,000 construction workers across the country have been affected because the government is not business-friendly. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Singh made it clear that if the government fulfils the demands of the federation, all the protest programs will be withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Yaksha Dhwaj Karki, advisor and former president of the federation, said that the problems in the construction industry have increased due to the non-inclusion of construction professionals while amending the laws and regulations related to public procurement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of the program of the movement, the federation will submit a memorandum with an ultimatum to the prime minister on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On Tuesday, seven state federations will submit a memorandum with an ultimatum to the chief minister and 77 district federations to the district administration offices. From July 26 to 30, there is a program to inform the presidents of various political parties, concerned federal government agencies, and the state federation about their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, on July 30, the federation has announced a one-hour protest at the Public Procurement Monitoring Office from 10:00 am to 11:00 am, and from the same day, a 1-hour protest will be held at the offices of the chief ministers of all seven provinces and district administration offices. The federation said that they will hold a sit-in protest for one hour in front of the prime minister's residence on July 31 and will hold a strong demonstration in the federal capital with construction equipment<strong> </strong>and tools until their demands are met.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18274', 'image' => '20230724020921_20220418055544_fcan-building.jpg', 'article_date' => '2023-07-24 14:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18544', 'article_category_id' => '1', 'title' => 'Honorary Consular Corps Nepal Nominates Vishnu Agrawal as its New Dean', 'sub_title' => '', 'summary' => 'July 24: The Honorary Consular Corps - Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 24: The Honorary Consular-Corps Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agrawal is the immediate past president of the Confederation of Nepalese Industries (CNI). He is also the honorary consul general of the Czech Republic since 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to HCC-N, Agrawal was appointed the honorary consul of the Czech Republic in 2010 and was promoted to the post of honorary consul general in 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a statement on Sunday, HCC-N confirmed that the 16<sup>th</sup> Annual General Meeting of the organization nominated Agrawal as the new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The AGM was attended by Vice President Ram Sahay Yadav and Minister for Foreign Affairs NP Saud, added the statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at the inauguration of the AGM, Vice President Yadav expressed his gratitude for the immense contributions made by the honorary consul generals of 59 countries with whom Nepal has established diplomatic relations but does not have permanent residential envoys.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The need of the present day is to maintain cordial relations with all the nations of the world to support Nepal’s goal of attain economic prosperity. I am expecting a constructive role from HCC-N in this regard,” said Vice President Yadav.</span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18273', 'image' => '20230724011342_HCCN AGM.JPG', 'article_date' => '2023-07-24 13:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18543', 'article_category_id' => '1', 'title' => 'Six More Arrested Including Customs Officials in Connection to Gold Smuggling ', 'sub_title' => '', 'summary' => 'July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer of DRI Nabaraj Adhikari said that the arrested are Customs Officer Santosh Chand, X-ray Operator Saroj Shrestha and Customs Invigilator Kumar Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, customs agents Sudarshan Gautam, Rukmini Subba and Yadav Parajuli were also arrested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 16 individuals have been arrested in this case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had seized the illegally imported gold from Tribhuvan International Airport area that had passed the customs undetected on Wednesday. The gold was brought from Hong Kong. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18272', 'image' => '20230724122702_goldee.jpg', 'article_date' => '2023-07-24 12:26:19', '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' => '18559', 'article_category_id' => '1', 'title' => 'Kathmandu Reports Steady Rise in Crime', 'sub_title' => 'More than Half of the Crimes Reported were Related to Banking Fraud ', 'summary' => 'July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Kathmandu District Police Range, the cases of banking fraud and other economic offences have significantly soared here in recent times. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the fiscal year 2020/21, a total of 5,662 cases of crimes were registered in Kathmandu and this number increased to 8,977 in the following year and further rose to 13,464 in the fiscal year 2022/23. Notably, more than half of these cases, specifically 7,101 cases, were related to banking fraud. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 2,894 were related to abuse, 647 involved theft, 414 were associated with swindling, 368 were related drug abuse and smuggling, 357 were related to suicide incidents, and 326 were related to women and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 189 cases were related to traffic accidents and injuries, 27 cases were about murder, and 1,141 cases were related to other forms of offences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Superintendent of Police, Dan Bahadur Karki, said the data presents the escalating trend of banking fraud and other economic offences in Kathmandu lately. This includes banking fraud, bounced checks, swindling through lottery scams, and deceptive promises of lucrative employment opportunities abroad. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18288', 'image' => '20230725045808_Kathmandu Valley.jpg', 'article_date' => '2023-07-25 16:53:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18558', 'article_category_id' => '1', 'title' => 'British Council Launches IELTS Ready: Premium', 'sub_title' => '', 'summary' => 'July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the British Council, the new platform will provide personalised IELTS resources to British Council test takers according to their progress. It includes 40 IELTS mock tests, and recorded classes and will be fully supported by native English-speaking IELTS experts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers can perfect their IELTS preparation with practice tests in both timed and untimed formats, with all answers analysed to inform the most useful exercises for test-takers to practice, reads a press statement issued by the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The IELTS Ready: Premium platform is powered by Guided e-Learning (GEL), a leading provider of digital learning in English Language Teaching based in London.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers will also be able to access writing practice with model answers to show what examiners are looking for to achieve the required scores. Likewise, they will also be able to get feedback from IELTS experts on every reading and listening question. Tailored support to target areas where test takers need to improve and familiarisation videos so test takers are prepared for their test are also accessible, added the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers receive unlimited free access to IELTS Ready: Premium from the time they register for IELTS with the British Council up to their test.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During a successful pilot period, the platform achieved high levels of user satisfaction and engagement amongst test takers. According to the British Council, 97 percent of users said it helped them achieve their desired score and 98 percent said they would recommend the service to others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Maxim Raimann, General Manager at the British Council Nepal, said that the institute wanted to give IELTS test takers every tool to achieve their ambitions of living, working or studying overseas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We are therefore excited to launch IELTS Ready: Premium, to help them feel fully prepared and have the best chance to fulfil those dreams,” he added. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18287', 'image' => '20230725040215_IELTS.jpg', 'article_date' => '2023-07-25 16:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18557', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Shrinks while Trade Deficit Stands at Rs 1454 Billion', 'sub_title' => '', 'summary' => 'July 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year.', '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 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year. Last year, imports decreased by Rs 308.71 billion and exports decreased by Rs 42.89 billion, the Department of Customs announced on Monday.</span></span></span></span></p> <p><span style="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 total foreign trade, which exceeded Rs 2120.47 billion in the year 2021/22, decreased to Rs 1768.87 billion in FY 2022/23. Last year, imports decreased by 16.08 and exports by 21.44 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The size of the foreign trade shrunk due to the government's policy of discouraging imports, which contributes more than 90 percent to the total foreign trade. The government had imposed a ban on the import of some luxury items for almost half of the last fiscal year due to the decrease in foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government had announced incentives for exports, there was a decline in items sent overseas from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Exports from Nepal decreased mainly after India reduced the customs duty imposed on the import of raw materials required for making edible oil. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepali businessmen used to bring unrefined oil from abroad, process it and export it to India when India had imposed a 40 percent duty on the import of edible oil raw materials from countries other than the South Asian Free Trade Area (SAFTA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While exporting edible oil from Nepal to India, only 5 percent duty was paid under the SAFTA facility. Later, after India reduced the duty on crude oil export to 2.5 percent, the export from Nepal was negatively affected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Trade deficit with 132 countries</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year 2021/22, the country traded with 170 countries of the world and had a trade deficit with 132 countries. There was profit in trade with 38 countries only. Experts say that the trade deficit is increasing due to the lack of domestic products for export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal’s trade deficit with India was the highest of all while it made profit in foreign trade with Denmark the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Governor of Nepal Rastra Bank Chiranjeevi Nepal says that the trade deficit will not reduce unless Nepal encourages domestic production. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't have internal production at all. We have only been importing," says former governor Nepal. "To reduce the trade deficit, the government should designate special areas and promote domestic production."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is a practice of importing unnecessary goods in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Nepali nationals have been making good income through remittance. Therefore, there is a tendency to import unnecessary goods,'' he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the government should promote exports by encouraging the production of goods that have potential in the international market. If that is done, the trade deficit with the partner countries can be gradually reduced.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18286', 'image' => '20230725032424_trade_imbalance.jpg', 'article_date' => '2023-07-25 15:23:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18556', 'article_category_id' => '1', 'title' => 'Dusit Thani Himalayan Resort Starts Operation ', 'sub_title' => '', 'summary' => 'July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Managed by Dusit International, one of Thailand’s leading hotel and property development companies, the resort combines Dusit’s unique brand of Thai-inspired gracious hospitality with local culture and traditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Dusit Thani literally means ‘Town in Heaven’. Our resort is just over an hour's drive from Tribhuvan International Airport and</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">25km from Bhaktapur Durbar Square, a UNESCO World Heritage Site,” shares Alina Shakya, marketing staff of the resort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort greets guests with a personal butler – a first-of-its-kind experience in Nepal – ensuring impeccable service and a truly unique experience throughout their stay. The resort also aims to redefine hospitality by offering an unrivalled wellness experience that resonates with guests and the local community.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of its initial opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, offers 28</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">exquisitely designed rooms including four junior suites and 18 luxurious residences managed by Dusit at affordable rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The opening of Dusit Thani Himalayan Resort Dhulikhel, Nepal marks the beginning of</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">an exciting chapter in Dhulikhel’s hospitality landscape, says Kris Panya, general manager of Dusit Thani Himalayan Resort Dhulikhel, Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are thrilled to unveil this magnificent haven that reflects our core values of care and commitment. We aspire to treat every guest as a cherished member of our own family and ensure an unparalleled level of personalized service and attention while also promoting</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">the local community around," he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy sweeping views of the valley and the awe-inspiring 180-degree Himalayan vista from their private balconies, guaranteeing a serene retreat that provides a taste of the luxurious offerings to come, Shakya added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The second phase of the resort, slated to open at the end of the year, will feature an additional 44 rooms, bringing the total number of rooms to 72.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">At Dusit Thani Himalayan Resort Dhulikhel, Nepal, wellness takes centre stage. Dusit’s signature Devarana Wellness offers an array of tailored wellness activities and experiences that cater to individual preferences and needs, the resort said in a statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Whether indulging in a rejuvenating spa treatment that blends ancient Thai and traditional Himalayan healing therapies, practising yoga amidst nature's embrace, or exploring the surrounding trails</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">for a soul-soothing hike, guests will discover a sanctuary that fosters holistic well-being.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy the stunning views of the Himalayas and valleys from the infinity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">swimming pool and outdoor jacuzzi, and also take advantage of the steam, sauna, and fitness centre facilities for a complete wellness experience, says Shakya.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In line with Dusit’s commitment to creating extraordinary moments for guests, dining at the resort is another exceptional experience. Led by Executive Chef Bhavi Khanal, winner of The Best International Executive Chef category at the Galaxy Excellence Awards, the resort’s enticing dining options include Thaan, a versatile multi-cuisine destination, and Bela, a lively poolside bar with a welcoming ambience. Locally sourced ingredients and expertly crafted menus and cocktails combine to deliver a culinary adventure that delights all the senses, the resort operators said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort also provides ample space for memorable meetings and events, catering to intimate gatherings and large-scale celebrations. Designed with versatility in mind, the grand ballroom expands to 226 sq m and has the remarkable capacity to comfortably host up to 350 guests, creating an ideal setting for grand weddings and other noteworthy occasions.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Thani Himalayan Resort Dhulikhel, Nepal, also offers the unique advantage of combining the grand ballroom with a meticulously manicured lawn spanning an expansive 540 sq m. This seamless fusion of indoor and outdoor spaces enables the resort to cater to events with extensive guest lists. Operators of Dusit Thani claimed that it is the only resort in the vicinity to provide such comprehensive services.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"From the inception of this project, I have envisioned a sanctuary nestled amidst the awe-inspiring beauty of the Himalayas, where guests could immerse themselves in a world of bespoke luxury and authentic local experiences. So, when your passion and dreams come true, it’s a completely different feeling. And today, I am overwhelmed with joy and pride as we open our doors to the world," Marvendra Mor, principal partner of Omstone Asia Capital Nepal Pvt Ltd, the company which owns Dusit Thani Himalayan Resort Dhulikhel, Nepal said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Babita Hamal, Managing Director of Omstone Asia Capital Nepal Pvt. Ltd said that her team is delighted to invite the world to experience the unparalleled grandeur of the luxury resort. "We look forward to promoting Dhulikhel as a premier tourist destination in Nepal,” she added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, is offering a special New Himalayan Hideaway room package, including daily breakfast at Thaan, complimentary afternoon tea at Bela Bar, a complimentary 30-minute neck and shoulder massage at Devarana Wellness for two, a 15% discount on F&B and spa treatments, a complimentary guided visit to Namo Buddha, and more exclusive benefits.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18285', 'image' => '20230725044755_470727500.jpg', 'article_date' => '2023-07-25 14:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18555', 'article_category_id' => '1', 'title' => 'Monetary Policy Issued by Central Bank cannot Resolve Economic Crisis: Private Sector', 'sub_title' => '', 'summary' => 'July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reacting to the monetary policy issued by the central bank on Sunday, the private sector stakeholders said in a joint statement on Monday that the monetary policy does not meet the expectations of addressing the challenges of the economy, including high-interest rates, low demand, cash flow problems, low production and job cuts, declining morale of the private sector and postponement of new investment plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"The policy taken by the central bank through monetary policy does not seem to help in lifting the economy out of recession," said the joint statement. The statement added that even if the central bank's monetary policy has been carefully and flexibly drafted to keep the economy running, the provisions in the policy prove otherwise.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year's monetary policy fixed the credit flow to the private sector at 12.6 per cent, but for the current year, the target has been reduced to 11.5 per cent. According to the private sector, it will be difficult to achieve the economic growth rate of 6 per cent taken by the government through the budget when the credit going to the private sector is reduced. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private sector was expecting the central bank to take initiatives to control the increase in high-interest rates through monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“NRB has reduced the policy rate by 0.5 per cent while keeping the bank rate unchanged. It does not seem to help in reducing the interest rate. It is necessary to use all the tools to reduce the base rate of the banks," the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organisations argue that the economy will not be sustainable unless the monetary policy addresses the suggestions of the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">One of the major demands of the private sector is the borrowers should be provide facilities for refinancing.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18284', 'image' => '20230725010849_economic crisis.jpg', 'article_date' => '2023-07-25 13:08:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18554', 'article_category_id' => '1', 'title' => 'Heavy Rain Lashes Lumbini Province, Authorities Call for Alert', 'sub_title' => '', 'summary' => 'July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night. Heavy precipitation has been recorded in Rupandehi, Palpa, Nawalparasi, Pyuthan and surrounding places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The risk of flooding has increased in settlements close to the bank of Tinau River which has become swollen following the heavy rainfall. The Tinau Flood Measurement Centre Butwal stated that the water level in the Tinau River has crossed the danger mark and it continues to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People living in settlements near the river bank and at low-lying areas have been notified to evacuate to safe places by today afternoon considering the risk of flooding in the areas. The Meteorological Forecasting Division has issued alert to residents of low-lying areas and settlements close to the river banks, and those preparing for travel to take precaution. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Main roads obstructed due to heavy rainfall</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, roads have been blocked by landslides triggered by incessant rainfall at various places in Palpa, Arghakhanchi, Pyuthan, among the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Highway Security and Traffic Management Office Butwal said the Butwal-Palpa, Gorusinge-Sandhikharka and Bhaluwang-Pyuthan roads have been obstructed by landslides at different places. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18282', 'image' => '20230725120800_Capture2023-07-04-10-44-08 - Copy.jpeg', 'article_date' => '2023-07-25 12:07:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18552', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Receives National Excellent Annual Report Award 2022', 'sub_title' => '', 'summary' => 'Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 25: Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank received the 'Bronze Award' in the banking sector. ICAN awarded the bank for the publication of its outstanding financial report in the banking sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a program held in Kathmandu recently, Finance Minister Dr. Prakash Sharan Mahat handed over the award to the bank's Deputy Chief Executive Officer and Chief Financial Officer, Mohammad Rizwan Alam. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank currently provides services through 93 branches, 22 extension counters, 7 provincial offices, and one corporate office, and 128 ATMs across the country. </span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18281', 'image' => '20230725060118_collage (3).jpg', 'article_date' => '2023-07-25 05:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18551', 'article_category_id' => '1', 'title' => 'More Import Tax to Become Self-reliant, Says Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 25: Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At a programme organized in Bhairahawa, Minister Mahat explained that taxes were increased on the imports of essential commodities with an objective to reduce reliance on such commodities and thereby increase self-increase.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Bemoaning that there was no adequate agricultural production although Nepal is an agricultural country, Mahat said that Value Added Tax(VAT) was imposed in the essential commodities to encourage domestic production of agrarian commodities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">"We are about to gaining self-sufficiency in potato and onion production. This might have brought cheer to those producing agriculture products," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">When asked about party leader Bal Krishna Khand, who is currently in police custody due to his alleged involvement in the fake Bhutanese refugee scam, Mahat clarified that violators of law are never protected by his party. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Mahat clarified that his party will not take action against Khand just on the basis of allegation. “An impartial investigation should be launched into the case rather than making it a vendetta," the Minister said, adding that the culprit should not be spared while the innocent should not be convicted. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18280', 'image' => '20230725054527_collage (2).jpg', 'article_date' => '2023-07-25 05:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18550', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2221 Billion', 'sub_title' => '', 'summary' => 'The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">July 24: The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">The public debt witnessed a significant increase of over Rs 200 billion in the last fiscal year alone. At the end of the previous year, the total public debt stood at Rs 2,012 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">However, during the last fiscal year, the internal debt rose by Rs 140 billion, while the external loan surged by Rs 675 billion, as reported by the Public Debt Management Office.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Notably, the principal and interest obligations for the public debt have become almost equal to the country's capital expenditure. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">In the fiscal year 2022-23, Nepal's capital expenditure amounted to Rs 233 billion and 690 million. During the same period, the government paid a substantial amount of Rs 222 billion 742 million and 100 thousand to service the principal and interest for the public debt.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Out of this sum, Rs 179 billion 725 million and 300 thousand were utilized to service the principal and interest of internal loans, while Rs 43 billion 16 million and 800 thousand were spent on servicing the principal and interest of external loans. (RSS)</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18279', 'image' => '20230724061708_collage (2).jpg', 'article_date' => '2023-07-24 18:15:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18549', 'article_category_id' => '1', 'title' => 'Dusit Chain makes Debut in Nepal with the Opening of Hotel Dusit Princess', 'sub_title' => 'The 5-star franchise of Dusit International has an investment of Rs 250 crores', 'summary' => 'July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu is located in the vibrant Lazimpat neighbourhood and is a short-distance walk from the Narayanhiti Palace Museum and just 18 minutes by car from the Tribhuvan International Airport. The hotel is designed to appeal to business and leisure travellers who appreciate comfort, value, and convenience, shared Khando Gurung, marketing chief of the hotel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thoughtfully designed to reflect local culture and architecture, the hotel property offers an oasis for relaxation amidst the buzz of the city. The hotel has 107 comfortable and well-furnished guest rooms ranging from 28 to 62 sq meters, along with a presidential suite covering 159 sq meters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the hotel boasts a specialty Thai restaurant Soi; a Dusit Gourmet outlet featuring freshly baked pastries, artisanal sandwiches, and ‘deli bites’; and a rooftop Kibu Sky lounge with panoramic city view. Likewise, the Rooftop Blue Bar at the hotel has the city’s highest infinity pool.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We promise to exceed your expectations and provide an experience that will leave</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">you with cherished memories for years to come,” said Tenzin Zoepa Lama, chairman of Dusit Princess Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reflecting Dusit’s group-wide focus on wellness, Dusit Princess Kathmandu said it will soon open a Crest spa offering a wide range of Thai-inspired massage therapies and beauty treatments. The spa will have a steam room, sauna, and fully equipped Crest club along with a gym available for guests seeking to pause, refresh, and reinvigorate themselves to their utmost comfort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Through this endeavour, I am committed to supporting the country's tourism growth, creating opportunities for local communities, and showcasing the richness of our cultural heritage,” he added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu also offers a selection of versatile meeting spaces. Among them is the stunning rooftop venue, ‘Vista,’ featuring floor-to-ceiling windows and panoramic city views for up to 35 guests.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The elegant Princess Ballroom is available to host larger gatherings for up to 250 attendees, Lumbini 1 and Lumbini 2 halls are available for meetings and small gatherings for up to 35-40 people. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dorje Lama, managing director of Dusit Princess Kathmandu, shared that the hotel aspires to be a symbol of Nepal's excellence in hospitality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are unwaveringly dedicated to exceptional service, attention to detail, and commitment to sustainability which will ensure that the guests have an extraordinary and authentic experience throughout their stay,” he expressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Princess Kathmandu is offering a special opening offer starting at only NPR 16,500 (USD 125) per night for a superior room with breakfast for two and set dinner at specialty Thai restaurant SOI, valid until September 17, 2023.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18278', 'image' => '20230724050128_1023456324.jpg', 'article_date' => '2023-07-24 17:00:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18548', 'article_category_id' => '1', 'title' => 'BPKIHS Launches 30-Bed Dengue Ward Amidst Soaring Dengue Fever Cases', 'sub_title' => '', 'summary' => 'The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 24: The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The dedicated ward commenced its operations on Sunday in response to the escalating dengue outbreak in Dharan sub-metropolis, Sunsari, and its neighboring regions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the relentless surge in dengue cases in Sunsari and surrounding areas, the existing medical facilities at BPKIHS, including the 'central emergency' and the 'dengue clinic,' have become insufficient to cope with the situation, according to BPKIHS acting vice-chancellor Prof Dr. Prahlad Karki.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 50-bed 'observation ward' has been overwhelmingly occupied by dengue patients in the past two days. Currently, an alarming 85% of the ward's beds are filled with dengue patients. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the hospital's emergency ward has been inundated with 60 to 75 dengue cases daily.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18277', 'image' => '20230724044303_collage (1).jpg', 'article_date' => '2023-07-24 16:41:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18546', 'article_category_id' => '1', 'title' => 'New Monetary Policy is ‘Cautiously Flexible’', 'sub_title' => '', 'summary' => 'July 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.', '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"">Yadav Humagain</span></span></span></span></p> <p><span style="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 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.</span></span></span></span></p> <p><span style="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 central bank has made some changes in the monetary policy and included some flexible provisions after the increase in the net savings, comfortable foreign exchange reserves and taming of inflation within the limits. In addition to reducing the bank rate through the policy, the NRB has announced that it will review the existing risk weighting arrangements for share mortgages, real estate and hire purchase loans and also review the current capital loan guidelines. It has indicated that it is trying to address the demands of the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the central bank has indicated that the policy rate will be set based on the ability of the foreign exchange reserves to support imports and the annual target inflation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a press conference held after announcing the monetary policy, NRB Governor Maha Prasad Adhikari said that the central bank has become flexible to keep domestic economic activities running while being aware of the state of the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Tight monetary policy is still in place in the big economies around the world while there is a pressure on inflation," he said, "We have become somewhat flexible to make the internal economy run. The policy will be revised in the future depending on the situation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Efforts to reduce interest rates</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has tried to reduce the interest rate which had reached a high point due to the previous monetary policy. The policy rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent through the monetary policy of the last fiscal year (FY), has been reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> base points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the current fiscal year. Similarly, the deposit collection rate has also been reduced from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The bank rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent last year, was reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent from the third quarter review of the monetary policy during last FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank said that when the policy rate decreases, the cost of liquidity management of banks will be reduced and the interest rate of loans will be cheaper. However, the ability of banks to extend credit has not increased as the central bank has not changed the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, in the monetary policy, the central bank has indicated that the policy rate will be set based on the capacity of the foreign exchange reserves to support imports and the annual target inflation, and has also indicated that it will be tightened at any time based on external sector pressure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Relief for real estate, shares and auto loans</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Through monetary policy, the central bank has tried to provide relief to the loans for the housing, real estate, share mortgage and automobile sectors.</span></span></span></span></p> <p><span style="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 monetary policy mentions that the first residential home loan limit will be increased from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million. Similarly, the NRB has announced to review the existing risk weighting arrangements for share mortgage, real estate and hire purchase loans. In the press conference, the central bank officials said that the risk burden of share mortgage loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million, new real estate loans and auto loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million will be reduced and maintained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, there is a provision that the risk weight of loans flowing through share securities should be kept at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of more than that amount. Similarly, in real estate and auto loans, the risk weight is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks have been reluctant to extend loans in these areas due to the high risk burden. Likewise, the central bank has tried to address the demands of businessmen by stating that the current capital loan guidelines will also be reviewed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Reduction of microfinance, facilitation of cooperatives</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past years, the central bank had adopted a policy of reducing the number of banks and financial institutions, but in the current fiscal year, it has announced that it will reduce the number of microfinance institutions. In the monetary policy, it has been mentioned that mergers and acquisitions of microfinance institutions will be encouraged so that existing facilities will be available if integrated transactions are conducted by the end of the current fiscal year (mid-July 2024)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="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, NRB announced that the recommendations of the report prepared by the study committee on the problems of microfinance companies will be implemented gradually. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid growing demand for the central bank to monitor cooperatives, the NRB said it will facilitate to create a separate institution for monitoring the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As mentioned in the current year's budget, the monetary policy states that necessary facilitation will be done to establish a separate specialized regulatory body for effective regulation and supervision of savings and credit cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rs </span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562</span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion loan for economic growth</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to achieve the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent economic growth target set by the government in the budget of the current fiscal year, the central bank has set a target of extending loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Stating that the priority is to flow financial resources to the productive sector in order to help achieve economic growth, the loan from banks and financial institutions to the private sector in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is expected to grow by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The goal of the monetary policy is to manage the monetary system so as not to put pressure on the prices from the monetary expansion and to maintain inflation within 6.5 percent and to maintain the foreign exchange reserves to meet the import of goods and services for at least 7 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has imposed a 5 percent tax to discourage Nepalis from going on foreign trips, the central bank has increased the foreign facility for passport holders. It is mentioned in the monetary policy that Nepalese citizens visiting countries other than India will be provided with facilities exchange for up to US$ 1,500 twice in a year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Large debtors under surveillance</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has announced that it will monitor the big borrowers through monetary policy. The NRB mentioned that a separate guidelines will be issued to make the supervision of large borrowers effective. </span></span></span></span></p> <p><span style="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, the NRB said that the existing Banking Offenses Act, 2064 will be amended in order to assist in controlling non-commercial and disorderly activities that affect the stability of the financial sector. Reforms have also been announced in the monetary policy, including issuing a 'Stress Loan Resolution Framework' to restructure the credit of troubled borrowers, implementing a system for national level development banks to maintain capital in accordance with the Capital Adequacy Framework, reviewing credit investment systems in designated areas, and central customer identification systems based on national identity cards.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18275', 'image' => '20230724024424_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-24 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18545', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Announce Series of Protest Programmes', 'sub_title' => '', 'summary' => 'July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation announced the protest program demanding the release of payments of all construction projects in lump sum and the extension of the deadline of all the projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government has already extended the deadline of infrastructure projects by publishing a notice in the Nepal Gazette as per the request of the construction entrepreneurs. However, the contractors say that their demands have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The contractors announced the protest programmes on Sunday following a national meet of more than 400 construction entrepreneurs from all across the nation held in the capital on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Organising a press conference, the federation stated that the government has withdrawn from its commitments and therefore the contractors decided to hold the protest. FCAN argued that the government is yet to fulfill their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation, said that the government should adjust prices to address the excessive and unexpected price hike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, other demands put forward by the federation include termination of stalled and problematic projects that have not shown any progress due to lack of budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They have also demanded that cheque bounce and confiscation of bank guarantees should be stopped, the increase in the premium rate of insurance should be cancelled, the remaining arrears of income tax and value-added tax (VAT) deducted at source should be submitted to the revenue department on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation has also demanded that the provision of construction by the consumer committee should be abolished and that the public procurement act and rules related to infrastructure should be business-friendly. Singh said that more than 24,000 construction workers across the country have been affected because the government is not business-friendly. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Singh made it clear that if the government fulfils the demands of the federation, all the protest programs will be withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Yaksha Dhwaj Karki, advisor and former president of the federation, said that the problems in the construction industry have increased due to the non-inclusion of construction professionals while amending the laws and regulations related to public procurement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of the program of the movement, the federation will submit a memorandum with an ultimatum to the prime minister on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On Tuesday, seven state federations will submit a memorandum with an ultimatum to the chief minister and 77 district federations to the district administration offices. From July 26 to 30, there is a program to inform the presidents of various political parties, concerned federal government agencies, and the state federation about their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, on July 30, the federation has announced a one-hour protest at the Public Procurement Monitoring Office from 10:00 am to 11:00 am, and from the same day, a 1-hour protest will be held at the offices of the chief ministers of all seven provinces and district administration offices. The federation said that they will hold a sit-in protest for one hour in front of the prime minister's residence on July 31 and will hold a strong demonstration in the federal capital with construction equipment<strong> </strong>and tools until their demands are met.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18274', 'image' => '20230724020921_20220418055544_fcan-building.jpg', 'article_date' => '2023-07-24 14:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18544', 'article_category_id' => '1', 'title' => 'Honorary Consular Corps Nepal Nominates Vishnu Agrawal as its New Dean', 'sub_title' => '', 'summary' => 'July 24: The Honorary Consular Corps - Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 24: The Honorary Consular-Corps Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agrawal is the immediate past president of the Confederation of Nepalese Industries (CNI). He is also the honorary consul general of the Czech Republic since 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to HCC-N, Agrawal was appointed the honorary consul of the Czech Republic in 2010 and was promoted to the post of honorary consul general in 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a statement on Sunday, HCC-N confirmed that the 16<sup>th</sup> Annual General Meeting of the organization nominated Agrawal as the new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The AGM was attended by Vice President Ram Sahay Yadav and Minister for Foreign Affairs NP Saud, added the statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at the inauguration of the AGM, Vice President Yadav expressed his gratitude for the immense contributions made by the honorary consul generals of 59 countries with whom Nepal has established diplomatic relations but does not have permanent residential envoys.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The need of the present day is to maintain cordial relations with all the nations of the world to support Nepal’s goal of attain economic prosperity. I am expecting a constructive role from HCC-N in this regard,” said Vice President Yadav.</span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18273', 'image' => '20230724011342_HCCN AGM.JPG', 'article_date' => '2023-07-24 13:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18543', 'article_category_id' => '1', 'title' => 'Six More Arrested Including Customs Officials in Connection to Gold Smuggling ', 'sub_title' => '', 'summary' => 'July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer of DRI Nabaraj Adhikari said that the arrested are Customs Officer Santosh Chand, X-ray Operator Saroj Shrestha and Customs Invigilator Kumar Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, customs agents Sudarshan Gautam, Rukmini Subba and Yadav Parajuli were also arrested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 16 individuals have been arrested in this case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had seized the illegally imported gold from Tribhuvan International Airport area that had passed the customs undetected on Wednesday. The gold was brought from Hong Kong. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18272', 'image' => '20230724122702_goldee.jpg', 'article_date' => '2023-07-24 12:26:19', '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
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: The graph of crime has been increasing steadily in Kathmandu year by year, data shows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Kathmandu District Police Range, the cases of banking fraud and other economic offences have significantly soared here in recent times. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the fiscal year 2020/21, a total of 5,662 cases of crimes were registered in Kathmandu and this number increased to 8,977 in the following year and further rose to 13,464 in the fiscal year 2022/23. Notably, more than half of these cases, specifically 7,101 cases, were related to banking fraud. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 2,894 were related to abuse, 647 involved theft, 414 were associated with swindling, 368 were related drug abuse and smuggling, 357 were related to suicide incidents, and 326 were related to women and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 189 cases were related to traffic accidents and injuries, 27 cases were about murder, and 1,141 cases were related to other forms of offences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Superintendent of Police, Dan Bahadur Karki, said the data presents the escalating trend of banking fraud and other economic offences in Kathmandu lately. This includes banking fraud, bounced checks, swindling through lottery scams, and deceptive promises of lucrative employment opportunities abroad. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18288', 'image' => '20230725045808_Kathmandu Valley.jpg', 'article_date' => '2023-07-25 16:53:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18558', 'article_category_id' => '1', 'title' => 'British Council Launches IELTS Ready: Premium', 'sub_title' => '', 'summary' => 'July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The British Council in Nepal has launched a new service, IELTS Ready: Premium, with the objective of providing innovative support for those preparing to take an IELTS test with the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the British Council, the new platform will provide personalised IELTS resources to British Council test takers according to their progress. It includes 40 IELTS mock tests, and recorded classes and will be fully supported by native English-speaking IELTS experts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers can perfect their IELTS preparation with practice tests in both timed and untimed formats, with all answers analysed to inform the most useful exercises for test-takers to practice, reads a press statement issued by the British Council. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The IELTS Ready: Premium platform is powered by Guided e-Learning (GEL), a leading provider of digital learning in English Language Teaching based in London.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers will also be able to access writing practice with model answers to show what examiners are looking for to achieve the required scores. Likewise, they will also be able to get feedback from IELTS experts on every reading and listening question. Tailored support to target areas where test takers need to improve and familiarisation videos so test takers are prepared for their test are also accessible, added the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Test takers receive unlimited free access to IELTS Ready: Premium from the time they register for IELTS with the British Council up to their test.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During a successful pilot period, the platform achieved high levels of user satisfaction and engagement amongst test takers. According to the British Council, 97 percent of users said it helped them achieve their desired score and 98 percent said they would recommend the service to others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Maxim Raimann, General Manager at the British Council Nepal, said that the institute wanted to give IELTS test takers every tool to achieve their ambitions of living, working or studying overseas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We are therefore excited to launch IELTS Ready: Premium, to help them feel fully prepared and have the best chance to fulfil those dreams,” he added. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18287', 'image' => '20230725040215_IELTS.jpg', 'article_date' => '2023-07-25 16:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18557', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Shrinks while Trade Deficit Stands at Rs 1454 Billion', 'sub_title' => '', 'summary' => 'July 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year.', '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 25: Nepal’s foreign trade declined by 16.58 percent in the last fiscal year compared to the previous year. Last year, imports decreased by Rs 308.71 billion and exports decreased by Rs 42.89 billion, the Department of Customs announced on Monday.</span></span></span></span></p> <p><span style="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 total foreign trade, which exceeded Rs 2120.47 billion in the year 2021/22, decreased to Rs 1768.87 billion in FY 2022/23. Last year, imports decreased by 16.08 and exports by 21.44 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The size of the foreign trade shrunk due to the government's policy of discouraging imports, which contributes more than 90 percent to the total foreign trade. The government had imposed a ban on the import of some luxury items for almost half of the last fiscal year due to the decrease in foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government had announced incentives for exports, there was a decline in items sent overseas from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Exports from Nepal decreased mainly after India reduced the customs duty imposed on the import of raw materials required for making edible oil. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepali businessmen used to bring unrefined oil from abroad, process it and export it to India when India had imposed a 40 percent duty on the import of edible oil raw materials from countries other than the South Asian Free Trade Area (SAFTA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While exporting edible oil from Nepal to India, only 5 percent duty was paid under the SAFTA facility. Later, after India reduced the duty on crude oil export to 2.5 percent, the export from Nepal was negatively affected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Trade deficit with 132 countries</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year 2021/22, the country traded with 170 countries of the world and had a trade deficit with 132 countries. There was profit in trade with 38 countries only. Experts say that the trade deficit is increasing due to the lack of domestic products for export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal’s trade deficit with India was the highest of all while it made profit in foreign trade with Denmark the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Governor of Nepal Rastra Bank Chiranjeevi Nepal says that the trade deficit will not reduce unless Nepal encourages domestic production. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't have internal production at all. We have only been importing," says former governor Nepal. "To reduce the trade deficit, the government should designate special areas and promote domestic production."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is a practice of importing unnecessary goods in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Nepali nationals have been making good income through remittance. Therefore, there is a tendency to import unnecessary goods,'' he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the government should promote exports by encouraging the production of goods that have potential in the international market. If that is done, the trade deficit with the partner countries can be gradually reduced.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18286', 'image' => '20230725032424_trade_imbalance.jpg', 'article_date' => '2023-07-25 15:23:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18556', 'article_category_id' => '1', 'title' => 'Dusit Thani Himalayan Resort Starts Operation ', 'sub_title' => '', 'summary' => 'July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: Dusit Thani Himalayan Resort Dhulikhel, Nepal, the first luxury resort in Namo Buddha, Dhulikel, has started operation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Managed by Dusit International, one of Thailand’s leading hotel and property development companies, the resort combines Dusit’s unique brand of Thai-inspired gracious hospitality with local culture and traditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Dusit Thani literally means ‘Town in Heaven’. Our resort is just over an hour's drive from Tribhuvan International Airport and</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">25km from Bhaktapur Durbar Square, a UNESCO World Heritage Site,” shares Alina Shakya, marketing staff of the resort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort greets guests with a personal butler – a first-of-its-kind experience in Nepal – ensuring impeccable service and a truly unique experience throughout their stay. The resort also aims to redefine hospitality by offering an unrivalled wellness experience that resonates with guests and the local community.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of its initial opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, offers 28</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">exquisitely designed rooms including four junior suites and 18 luxurious residences managed by Dusit at affordable rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The opening of Dusit Thani Himalayan Resort Dhulikhel, Nepal marks the beginning of</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">an exciting chapter in Dhulikhel’s hospitality landscape, says Kris Panya, general manager of Dusit Thani Himalayan Resort Dhulikhel, Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are thrilled to unveil this magnificent haven that reflects our core values of care and commitment. We aspire to treat every guest as a cherished member of our own family and ensure an unparalleled level of personalized service and attention while also promoting</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">the local community around," he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy sweeping views of the valley and the awe-inspiring 180-degree Himalayan vista from their private balconies, guaranteeing a serene retreat that provides a taste of the luxurious offerings to come, Shakya added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The second phase of the resort, slated to open at the end of the year, will feature an additional 44 rooms, bringing the total number of rooms to 72.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">At Dusit Thani Himalayan Resort Dhulikhel, Nepal, wellness takes centre stage. Dusit’s signature Devarana Wellness offers an array of tailored wellness activities and experiences that cater to individual preferences and needs, the resort said in a statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Whether indulging in a rejuvenating spa treatment that blends ancient Thai and traditional Himalayan healing therapies, practising yoga amidst nature's embrace, or exploring the surrounding trails</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">for a soul-soothing hike, guests will discover a sanctuary that fosters holistic well-being.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Guests can enjoy the stunning views of the Himalayas and valleys from the infinity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">swimming pool and outdoor jacuzzi, and also take advantage of the steam, sauna, and fitness centre facilities for a complete wellness experience, says Shakya.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In line with Dusit’s commitment to creating extraordinary moments for guests, dining at the resort is another exceptional experience. Led by Executive Chef Bhavi Khanal, winner of The Best International Executive Chef category at the Galaxy Excellence Awards, the resort’s enticing dining options include Thaan, a versatile multi-cuisine destination, and Bela, a lively poolside bar with a welcoming ambience. Locally sourced ingredients and expertly crafted menus and cocktails combine to deliver a culinary adventure that delights all the senses, the resort operators said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The resort also provides ample space for memorable meetings and events, catering to intimate gatherings and large-scale celebrations. Designed with versatility in mind, the grand ballroom expands to 226 sq m and has the remarkable capacity to comfortably host up to 350 guests, creating an ideal setting for grand weddings and other noteworthy occasions.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Thani Himalayan Resort Dhulikhel, Nepal, also offers the unique advantage of combining the grand ballroom with a meticulously manicured lawn spanning an expansive 540 sq m. This seamless fusion of indoor and outdoor spaces enables the resort to cater to events with extensive guest lists. Operators of Dusit Thani claimed that it is the only resort in the vicinity to provide such comprehensive services.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"From the inception of this project, I have envisioned a sanctuary nestled amidst the awe-inspiring beauty of the Himalayas, where guests could immerse themselves in a world of bespoke luxury and authentic local experiences. So, when your passion and dreams come true, it’s a completely different feeling. And today, I am overwhelmed with joy and pride as we open our doors to the world," Marvendra Mor, principal partner of Omstone Asia Capital Nepal Pvt Ltd, the company which owns Dusit Thani Himalayan Resort Dhulikhel, Nepal said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Babita Hamal, Managing Director of Omstone Asia Capital Nepal Pvt. Ltd said that her team is delighted to invite the world to experience the unparalleled grandeur of the luxury resort. "We look forward to promoting Dhulikhel as a premier tourist destination in Nepal,” she added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Thani Himalayan Resort Dhulikhel, Nepal, is offering a special New Himalayan Hideaway room package, including daily breakfast at Thaan, complimentary afternoon tea at Bela Bar, a complimentary 30-minute neck and shoulder massage at Devarana Wellness for two, a 15% discount on F&B and spa treatments, a complimentary guided visit to Namo Buddha, and more exclusive benefits.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18285', 'image' => '20230725044755_470727500.jpg', 'article_date' => '2023-07-25 14:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18555', 'article_category_id' => '1', 'title' => 'Monetary Policy Issued by Central Bank cannot Resolve Economic Crisis: Private Sector', 'sub_title' => '', 'summary' => 'July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 25: The three largest umbrella associations of the private sector, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) have said that the monetary policy introduced by the Nepal Rastra Bank (NRB) for the current fiscal year (FY 2023/24) will not address the current economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reacting to the monetary policy issued by the central bank on Sunday, the private sector stakeholders said in a joint statement on Monday that the monetary policy does not meet the expectations of addressing the challenges of the economy, including high-interest rates, low demand, cash flow problems, low production and job cuts, declining morale of the private sector and postponement of new investment plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"The policy taken by the central bank through monetary policy does not seem to help in lifting the economy out of recession," said the joint statement. The statement added that even if the central bank's monetary policy has been carefully and flexibly drafted to keep the economy running, the provisions in the policy prove otherwise.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year's monetary policy fixed the credit flow to the private sector at 12.6 per cent, but for the current year, the target has been reduced to 11.5 per cent. According to the private sector, it will be difficult to achieve the economic growth rate of 6 per cent taken by the government through the budget when the credit going to the private sector is reduced. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private sector was expecting the central bank to take initiatives to control the increase in high-interest rates through monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“NRB has reduced the policy rate by 0.5 per cent while keeping the bank rate unchanged. It does not seem to help in reducing the interest rate. It is necessary to use all the tools to reduce the base rate of the banks," the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organisations argue that the economy will not be sustainable unless the monetary policy addresses the suggestions of the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">One of the major demands of the private sector is the borrowers should be provide facilities for refinancing.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18284', 'image' => '20230725010849_economic crisis.jpg', 'article_date' => '2023-07-25 13:08:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18554', 'article_category_id' => '1', 'title' => 'Heavy Rain Lashes Lumbini Province, Authorities Call for Alert', 'sub_title' => '', 'summary' => 'July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 25: Normal life has been affected due to the heavy rainfall taking place in various districts of Lumbini Province, including Rupandehi, since last night. Heavy precipitation has been recorded in Rupandehi, Palpa, Nawalparasi, Pyuthan and surrounding places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The risk of flooding has increased in settlements close to the bank of Tinau River which has become swollen following the heavy rainfall. The Tinau Flood Measurement Centre Butwal stated that the water level in the Tinau River has crossed the danger mark and it continues to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People living in settlements near the river bank and at low-lying areas have been notified to evacuate to safe places by today afternoon considering the risk of flooding in the areas. The Meteorological Forecasting Division has issued alert to residents of low-lying areas and settlements close to the river banks, and those preparing for travel to take precaution. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Main roads obstructed due to heavy rainfall</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, roads have been blocked by landslides triggered by incessant rainfall at various places in Palpa, Arghakhanchi, Pyuthan, among the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Highway Security and Traffic Management Office Butwal said the Butwal-Palpa, Gorusinge-Sandhikharka and Bhaluwang-Pyuthan roads have been obstructed by landslides at different places. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18282', 'image' => '20230725120800_Capture2023-07-04-10-44-08 - Copy.jpeg', 'article_date' => '2023-07-25 12:07:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18552', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Receives National Excellent Annual Report Award 2022', 'sub_title' => '', 'summary' => 'Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 25: Nepal SBI Bank has been honoured by the Institute of Chartered Accountants of Nepal (ICAN). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been felicitated with the 'National Excellent Annual Report Award 2022' conferred annually by ICAN. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank received the 'Bronze Award' in the banking sector. ICAN awarded the bank for the publication of its outstanding financial report in the banking sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a program held in Kathmandu recently, Finance Minister Dr. Prakash Sharan Mahat handed over the award to the bank's Deputy Chief Executive Officer and Chief Financial Officer, Mohammad Rizwan Alam. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank currently provides services through 93 branches, 22 extension counters, 7 provincial offices, and one corporate office, and 128 ATMs across the country. </span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18281', 'image' => '20230725060118_collage (3).jpg', 'article_date' => '2023-07-25 05:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18551', 'article_category_id' => '1', 'title' => 'More Import Tax to Become Self-reliant, Says Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 25: Minister for Finance Dr Prakash Sharan Mahat has said that taxes were increased on essential commodities such as potato and onion to promote self-reliance on the production of these food items. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At a programme organized in Bhairahawa, Minister Mahat explained that taxes were increased on the imports of essential commodities with an objective to reduce reliance on such commodities and thereby increase self-increase.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Bemoaning that there was no adequate agricultural production although Nepal is an agricultural country, Mahat said that Value Added Tax(VAT) was imposed in the essential commodities to encourage domestic production of agrarian commodities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">"We are about to gaining self-sufficiency in potato and onion production. This might have brought cheer to those producing agriculture products," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">When asked about party leader Bal Krishna Khand, who is currently in police custody due to his alleged involvement in the fake Bhutanese refugee scam, Mahat clarified that violators of law are never protected by his party. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Mahat clarified that his party will not take action against Khand just on the basis of allegation. “An impartial investigation should be launched into the case rather than making it a vendetta," the Minister said, adding that the culprit should not be spared while the innocent should not be convicted. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-25', 'modified' => '2023-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '18280', 'image' => '20230725054527_collage (2).jpg', 'article_date' => '2023-07-25 05:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18550', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2221 Billion', 'sub_title' => '', 'summary' => 'The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">July 24: The government’s public debt has exceeded over Rs 2221 billion. According to data released by the Public Debt Management Office, Nepal's public debt has surpassed Rs 2221 billion by the end of the fiscal year 2079/80 BS (2022-23). </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">This amount includes internal loans amounting to over Rs 1,100 billion and external loans worth Rs 1,093 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">The public debt witnessed a significant increase of over Rs 200 billion in the last fiscal year alone. At the end of the previous year, the total public debt stood at Rs 2,012 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">However, during the last fiscal year, the internal debt rose by Rs 140 billion, while the external loan surged by Rs 675 billion, as reported by the Public Debt Management Office.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Notably, the principal and interest obligations for the public debt have become almost equal to the country's capital expenditure. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">In the fiscal year 2022-23, Nepal's capital expenditure amounted to Rs 233 billion and 690 million. During the same period, the government paid a substantial amount of Rs 222 billion 742 million and 100 thousand to service the principal and interest for the public debt.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman",serif">Out of this sum, Rs 179 billion 725 million and 300 thousand were utilized to service the principal and interest of internal loans, while Rs 43 billion 16 million and 800 thousand were spent on servicing the principal and interest of external loans. (RSS)</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18279', 'image' => '20230724061708_collage (2).jpg', 'article_date' => '2023-07-24 18:15:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18549', 'article_category_id' => '1', 'title' => 'Dusit Chain makes Debut in Nepal with the Opening of Hotel Dusit Princess', 'sub_title' => 'The 5-star franchise of Dusit International has an investment of Rs 250 crores', 'summary' => 'July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, made its debut in Nepal this month with the opening of the Dusit Princess Kathmandu, which started welcoming guests on July 17.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu is located in the vibrant Lazimpat neighbourhood and is a short-distance walk from the Narayanhiti Palace Museum and just 18 minutes by car from the Tribhuvan International Airport. The hotel is designed to appeal to business and leisure travellers who appreciate comfort, value, and convenience, shared Khando Gurung, marketing chief of the hotel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thoughtfully designed to reflect local culture and architecture, the hotel property offers an oasis for relaxation amidst the buzz of the city. The hotel has 107 comfortable and well-furnished guest rooms ranging from 28 to 62 sq meters, along with a presidential suite covering 159 sq meters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the hotel boasts a specialty Thai restaurant Soi; a Dusit Gourmet outlet featuring freshly baked pastries, artisanal sandwiches, and ‘deli bites’; and a rooftop Kibu Sky lounge with panoramic city view. Likewise, the Rooftop Blue Bar at the hotel has the city’s highest infinity pool.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“We promise to exceed your expectations and provide an experience that will leave</span></span> <span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">you with cherished memories for years to come,” said Tenzin Zoepa Lama, chairman of Dusit Princess Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Reflecting Dusit’s group-wide focus on wellness, Dusit Princess Kathmandu said it will soon open a Crest spa offering a wide range of Thai-inspired massage therapies and beauty treatments. The spa will have a steam room, sauna, and fully equipped Crest club along with a gym available for guests seeking to pause, refresh, and reinvigorate themselves to their utmost comfort.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“Through this endeavour, I am committed to supporting the country's tourism growth, creating opportunities for local communities, and showcasing the richness of our cultural heritage,” he added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dusit Princess Kathmandu also offers a selection of versatile meeting spaces. Among them is the stunning rooftop venue, ‘Vista,’ featuring floor-to-ceiling windows and panoramic city views for up to 35 guests.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The elegant Princess Ballroom is available to host larger gatherings for up to 250 attendees, Lumbini 1 and Lumbini 2 halls are available for meetings and small gatherings for up to 35-40 people. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Dorje Lama, managing director of Dusit Princess Kathmandu, shared that the hotel aspires to be a symbol of Nepal's excellence in hospitality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"We are unwaveringly dedicated to exceptional service, attention to detail, and commitment to sustainability which will ensure that the guests have an extraordinary and authentic experience throughout their stay,” he expressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">To celebrate its opening, Dusit Princess Kathmandu is offering a special opening offer starting at only NPR 16,500 (USD 125) per night for a superior room with breakfast for two and set dinner at specialty Thai restaurant SOI, valid until September 17, 2023.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18278', 'image' => '20230724050128_1023456324.jpg', 'article_date' => '2023-07-24 17:00:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18548', 'article_category_id' => '1', 'title' => 'BPKIHS Launches 30-Bed Dengue Ward Amidst Soaring Dengue Fever Cases', 'sub_title' => '', 'summary' => 'The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 24: The BP Koirala Institute of Health Sciences (BPKIHS), Dharan, has set up a separate 30-bed dengue ward to combat the increasing cases of dengue fever.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The dedicated ward commenced its operations on Sunday in response to the escalating dengue outbreak in Dharan sub-metropolis, Sunsari, and its neighboring regions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the relentless surge in dengue cases in Sunsari and surrounding areas, the existing medical facilities at BPKIHS, including the 'central emergency' and the 'dengue clinic,' have become insufficient to cope with the situation, according to BPKIHS acting vice-chancellor Prof Dr. Prahlad Karki.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The 50-bed 'observation ward' has been overwhelmingly occupied by dengue patients in the past two days. Currently, an alarming 85% of the ward's beds are filled with dengue patients. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the hospital's emergency ward has been inundated with 60 to 75 dengue cases daily.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18277', 'image' => '20230724044303_collage (1).jpg', 'article_date' => '2023-07-24 16:41:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18546', 'article_category_id' => '1', 'title' => 'New Monetary Policy is ‘Cautiously Flexible’', 'sub_title' => '', 'summary' => 'July 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.', '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"">Yadav Humagain</span></span></span></span></p> <p><span style="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 24: Following an improvement in the external sector indicators of the economy due to the tight monetary policy last year, Nepal Rastra Bank (NRB) on Sunday issued a “cautiously flexible monetary policy” in order to keep the domestic economic activities afloat.</span></span></span></span></p> <p><span style="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 central bank has made some changes in the monetary policy and included some flexible provisions after the increase in the net savings, comfortable foreign exchange reserves and taming of inflation within the limits. In addition to reducing the bank rate through the policy, the NRB has announced that it will review the existing risk weighting arrangements for share mortgages, real estate and hire purchase loans and also review the current capital loan guidelines. It has indicated that it is trying to address the demands of the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the central bank has indicated that the policy rate will be set based on the ability of the foreign exchange reserves to support imports and the annual target inflation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a press conference held after announcing the monetary policy, NRB Governor Maha Prasad Adhikari said that the central bank has become flexible to keep domestic economic activities running while being aware of the state of the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Tight monetary policy is still in place in the big economies around the world while there is a pressure on inflation," he said, "We have become somewhat flexible to make the internal economy run. The policy will be revised in the future depending on the situation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Efforts to reduce interest rates</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has tried to reduce the interest rate which had reached a high point due to the previous monetary policy. The policy rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent through the monetary policy of the last fiscal year (FY), has been reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> base points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the current fiscal year. Similarly, the deposit collection rate has also been reduced from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The bank rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank rate, which was increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent last year, was reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent from the third quarter review of the monetary policy during last FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank said that when the policy rate decreases, the cost of liquidity management of banks will be reduced and the interest rate of loans will be cheaper. However, the ability of banks to extend credit has not increased as the central bank has not changed the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, in the monetary policy, the central bank has indicated that the policy rate will be set based on the capacity of the foreign exchange reserves to support imports and the annual target inflation, and has also indicated that it will be tightened at any time based on external sector pressure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Relief for real estate, shares and auto loans</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Through monetary policy, the central bank has tried to provide relief to the loans for the housing, real estate, share mortgage and automobile sectors.</span></span></span></span></p> <p><span style="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 monetary policy mentions that the first residential home loan limit will be increased from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million. Similarly, the NRB has announced to review the existing risk weighting arrangements for share mortgage, real estate and hire purchase loans. In the press conference, the central bank officials said that the risk burden of share mortgage loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million, new real estate loans and auto loans up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million will be reduced and maintained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At present, there is a provision that the risk weight of loans flowing through share securities should be kept at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in case of more than that amount. Similarly, in real estate and auto loans, the risk weight is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks have been reluctant to extend loans in these areas due to the high risk burden. Likewise, the central bank has tried to address the demands of businessmen by stating that the current capital loan guidelines will also be reviewed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Reduction of microfinance, facilitation of cooperatives</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past years, the central bank had adopted a policy of reducing the number of banks and financial institutions, but in the current fiscal year, it has announced that it will reduce the number of microfinance institutions. In the monetary policy, it has been mentioned that mergers and acquisitions of microfinance institutions will be encouraged so that existing facilities will be available if integrated transactions are conducted by the end of the current fiscal year (mid-July 2024)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="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, NRB announced that the recommendations of the report prepared by the study committee on the problems of microfinance companies will be implemented gradually. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid growing demand for the central bank to monitor cooperatives, the NRB said it will facilitate to create a separate institution for monitoring the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As mentioned in the current year's budget, the monetary policy states that necessary facilitation will be done to establish a separate specialized regulatory body for effective regulation and supervision of savings and credit cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rs </span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562</span></span></strong><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion loan for economic growth</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to achieve the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent economic growth target set by the government in the budget of the current fiscal year, the central bank has set a target of extending loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">562 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Stating that the priority is to flow financial resources to the productive sector in order to help achieve economic growth, the loan from banks and financial institutions to the private sector in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is expected to grow by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The goal of the monetary policy is to manage the monetary system so as not to put pressure on the prices from the monetary expansion and to maintain inflation within 6.5 percent and to maintain the foreign exchange reserves to meet the import of goods and services for at least 7 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has imposed a 5 percent tax to discourage Nepalis from going on foreign trips, the central bank has increased the foreign facility for passport holders. It is mentioned in the monetary policy that Nepalese citizens visiting countries other than India will be provided with facilities exchange for up to US$ 1,500 twice in a year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Large debtors under surveillance</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has announced that it will monitor the big borrowers through monetary policy. The NRB mentioned that a separate guidelines will be issued to make the supervision of large borrowers effective. </span></span></span></span></p> <p><span style="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, the NRB said that the existing Banking Offenses Act, 2064 will be amended in order to assist in controlling non-commercial and disorderly activities that affect the stability of the financial sector. Reforms have also been announced in the monetary policy, including issuing a 'Stress Loan Resolution Framework' to restructure the credit of troubled borrowers, implementing a system for national level development banks to maintain capital in accordance with the Capital Adequacy Framework, reviewing credit investment systems in designated areas, and central customer identification systems based on national identity cards.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18275', 'image' => '20230724024424_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-24 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18545', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Announce Series of Protest Programmes', 'sub_title' => '', 'summary' => 'July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 24: The Federation of Contractors Association of Nepal (FCAN) has put forward a nine-point demand with the government along with a series of protest programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation announced the protest program demanding the release of payments of all construction projects in lump sum and the extension of the deadline of all the projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government has already extended the deadline of infrastructure projects by publishing a notice in the Nepal Gazette as per the request of the construction entrepreneurs. However, the contractors say that their demands have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The contractors announced the protest programmes on Sunday following a national meet of more than 400 construction entrepreneurs from all across the nation held in the capital on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Organising a press conference, the federation stated that the government has withdrawn from its commitments and therefore the contractors decided to hold the protest. FCAN argued that the government is yet to fulfill their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation, said that the government should adjust prices to address the excessive and unexpected price hike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, other demands put forward by the federation include termination of stalled and problematic projects that have not shown any progress due to lack of budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They have also demanded that cheque bounce and confiscation of bank guarantees should be stopped, the increase in the premium rate of insurance should be cancelled, the remaining arrears of income tax and value-added tax (VAT) deducted at source should be submitted to the revenue department on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The federation has also demanded that the provision of construction by the consumer committee should be abolished and that the public procurement act and rules related to infrastructure should be business-friendly. Singh said that more than 24,000 construction workers across the country have been affected because the government is not business-friendly. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Singh made it clear that if the government fulfils the demands of the federation, all the protest programs will be withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Yaksha Dhwaj Karki, advisor and former president of the federation, said that the problems in the construction industry have increased due to the non-inclusion of construction professionals while amending the laws and regulations related to public procurement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As part of the program of the movement, the federation will submit a memorandum with an ultimatum to the prime minister on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On Tuesday, seven state federations will submit a memorandum with an ultimatum to the chief minister and 77 district federations to the district administration offices. From July 26 to 30, there is a program to inform the presidents of various political parties, concerned federal government agencies, and the state federation about their demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, on July 30, the federation has announced a one-hour protest at the Public Procurement Monitoring Office from 10:00 am to 11:00 am, and from the same day, a 1-hour protest will be held at the offices of the chief ministers of all seven provinces and district administration offices. The federation said that they will hold a sit-in protest for one hour in front of the prime minister's residence on July 31 and will hold a strong demonstration in the federal capital with construction equipment<strong> </strong>and tools until their demands are met.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18274', 'image' => '20230724020921_20220418055544_fcan-building.jpg', 'article_date' => '2023-07-24 14:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18544', 'article_category_id' => '1', 'title' => 'Honorary Consular Corps Nepal Nominates Vishnu Agrawal as its New Dean', 'sub_title' => '', 'summary' => 'July 24: The Honorary Consular Corps - Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 24: The Honorary Consular-Corps Nepal (HCC-N), an umbrella organization of non-residential consuls general, has nominated Vishnu Kumar Agrawal as its new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agrawal is the immediate past president of the Confederation of Nepalese Industries (CNI). He is also the honorary consul general of the Czech Republic since 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to HCC-N, Agrawal was appointed the honorary consul of the Czech Republic in 2010 and was promoted to the post of honorary consul general in 2015.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a statement on Sunday, HCC-N confirmed that the 16<sup>th</sup> Annual General Meeting of the organization nominated Agrawal as the new dean.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The AGM was attended by Vice President Ram Sahay Yadav and Minister for Foreign Affairs NP Saud, added the statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at the inauguration of the AGM, Vice President Yadav expressed his gratitude for the immense contributions made by the honorary consul generals of 59 countries with whom Nepal has established diplomatic relations but does not have permanent residential envoys.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The need of the present day is to maintain cordial relations with all the nations of the world to support Nepal’s goal of attain economic prosperity. I am expecting a constructive role from HCC-N in this regard,” said Vice President Yadav.</span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18273', 'image' => '20230724011342_HCCN AGM.JPG', 'article_date' => '2023-07-24 13:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18543', 'article_category_id' => '1', 'title' => 'Six More Arrested Including Customs Officials in Connection to Gold Smuggling ', 'sub_title' => '', 'summary' => 'July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 24: The Department of Revenue Investigation (DRI) on Sunday arrested six more persons including three government officials for their alleged involvement in smuggling 100 kilograms of gold last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer of DRI Nabaraj Adhikari said that the arrested are Customs Officer Santosh Chand, X-ray Operator Saroj Shrestha and Customs Invigilator Kumar Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, customs agents Sudarshan Gautam, Rukmini Subba and Yadav Parajuli were also arrested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 16 individuals have been arrested in this case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had seized the illegally imported gold from Tribhuvan International Airport area that had passed the customs undetected on Wednesday. The gold was brought from Hong Kong. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-24', 'modified' => '2023-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '18272', 'image' => '20230724122702_goldee.jpg', 'article_date' => '2023-07-24 12:26:19', '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
