Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and…
Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and…
The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the…
July 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship…
July 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal year.…
July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower…
July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi'…
July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19.…
July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street…
July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning.…
Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the…
July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider…
Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July…
July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu…
July 11: The government’s expenditure system is still full of…
July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal.…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '18445', 'article_category_id' => '1', 'title' => 'Bangladesh and India Commence Trade in Indian Rupee', 'sub_title' => '', 'summary' => 'Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">July 12: Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">For the first time, Bangladesh's bilateral trade with India was conducted in the Indian rupee in addition to the US dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Initially, the trade will be transacted in rupee and then gradually in Bangladeshi currency Taka upon the trade gap between the two countries decreasing, according to the central bank of Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The decision of doing trade in local currency has been taken as both neighboring countries face a dollar crisis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The local currency-based trade was inaugurated at an event held in the capital Dhaka jointly organized by Bangladesh Bank and the Indian High Commission in Dhaka.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Bangladesh Bank Governor Abdur Rouf Talukder and High Commissioner of India in Bangladesh Pranay Verma were present at the ceremony organized to launch the trade in India rupee. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The exchange rate will be determined in line with market demand and banks involved in the process, explained Amit Kumar, State Bank of India’s head of operation in Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">(Agencies)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18175', 'image' => '20230712053715_collage (75).jpg', 'article_date' => '2023-07-12 17:34:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18444', 'article_category_id' => '1', 'title' => 'NEPSE INDEX Gains 1.22% and Closes at 2097.55 Points', 'sub_title' => '', 'summary' => 'The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">July 12: The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The NEPSE index saw a rise of 1.22% or 25.31 points and closed at 2097.55 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">With the selling pressure of quarter end of the current fiscal year coming to a close, benchmark index has become positive. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">Buyers have been more active in the market, leading to an increase in trading volume during today’s trading session. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">On Wednesday, the sensitive index increased by 0.84 points, the float index increased by 1.17%, and the sensitive float index increased by 0.76 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">A total of 289 scrips traded hands via 59,539 transactions. A total of As many as 8,504,378 shares exchanged hands amounting to Rs. 3.18 billion in turnover amount.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">This is higher than the last trading day's turnover of Rs. 2.85 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 33.93 crores closing at a market price of Rs. 660 per share.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Five scrips hit the positive circuit for the day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">On the contrary, Rawa Energy Development Limited (RAWA) lost all 10% today.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Only two sector indices closed in the red zone.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">"Hydropower" gained the highest 4.41%, while "Finance" lost the highest 1.95% today.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18174', 'image' => '20230712045955_collage (74).jpg', 'article_date' => '2023-07-12 16:58:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18443', 'article_category_id' => '1', 'title' => 'Japan to Provide Scholarships worth Rs 385 Million to Civil Servants of Nepal', 'sub_title' => '', 'summary' => 'July 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).', '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 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Secretary Arjun Prasad Pokharel and Japanese Ambassador to Nepal Kikuta Yutaka signed the agreement amid a formal program held at the Ministry of Finance on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the Japanese government will provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">385</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">424</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million Japanese yen) as scholarships for civil servants in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant money will be used for postgraduate and PhD level scholarships for the civil servants. The Japanese government has been providing such assistance to Nepal since </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2015.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the JDS program, Japan has provided scholarships to </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""> civil servants in two phases from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2016</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the third phase of this scholarship program, </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"">civil servants will be able to study master's degree and two people will be able to study at the PhD level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shree Krishna Nepal, head of the International Economic Coordination Division under the Ministry of Finance, and Lizuka Kenichiro, a senior representative of the Japan International Cooperation Agency (JICA), were present during the signing ceremony.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18173', 'image' => '20230712040621_1689146427.Schoolship 1.jpg', 'article_date' => '2023-07-12 16:05:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18441', 'article_category_id' => '1', 'title' => 'Traffic Police Took Action against 876,000 Vehicles in Katmandu Valley this Year', 'sub_title' => '', 'summary' => 'July 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal 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 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal year. The teams deployed by the Kathmandu Valley Traffic Police Office took action against vehicles violating traffic rules in Kathmandu, Bhaktapur and Lalitpur in the current financial year (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"">Spokesperson for the traffic police office and Senior Superintendent of Police Rajendra Prasad Bhatt said 38,362 vehicles were fined for breaching lane discipline, 53,064 vehicles for driving under the influence of alcohol, 28,932 vehicles for driving while red lights were on.</span></span></span></span></p> <p><span style="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, action was taken against drivers of 56,524 vehicles for over-speeding, 136,039 vehicles for parking randomly, 736 for not using reservation seats, 14,447 blowing horns randomly, 148 people for driving vehicles under the influence of drugs and 16,485 people for overloading their vehicles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than 1,800 traffic police were mobilized from the Valley Traffic Police Office under the leadership of the Deputy Inspector General of Police (DIG) for the management of vehicles in the Kathmandu Valley. Currently, there are more than 3 million vehicles in operation across the country. Among them, only 1.2 million to 1.5 million vehicles are operating in Kathmandu Valley.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18171', 'image' => '20230712025957_1689151258.jpg', 'article_date' => '2023-07-12 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', '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' => '18445', 'article_category_id' => '1', 'title' => 'Bangladesh and India Commence Trade in Indian Rupee', 'sub_title' => '', 'summary' => 'Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">July 12: Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">For the first time, Bangladesh's bilateral trade with India was conducted in the Indian rupee in addition to the US dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Initially, the trade will be transacted in rupee and then gradually in Bangladeshi currency Taka upon the trade gap between the two countries decreasing, according to the central bank of Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The decision of doing trade in local currency has been taken as both neighboring countries face a dollar crisis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The local currency-based trade was inaugurated at an event held in the capital Dhaka jointly organized by Bangladesh Bank and the Indian High Commission in Dhaka.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Bangladesh Bank Governor Abdur Rouf Talukder and High Commissioner of India in Bangladesh Pranay Verma were present at the ceremony organized to launch the trade in India rupee. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The exchange rate will be determined in line with market demand and banks involved in the process, explained Amit Kumar, State Bank of India’s head of operation in Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">(Agencies)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18175', 'image' => '20230712053715_collage (75).jpg', 'article_date' => '2023-07-12 17:34:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18444', 'article_category_id' => '1', 'title' => 'NEPSE INDEX Gains 1.22% and Closes at 2097.55 Points', 'sub_title' => '', 'summary' => 'The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">July 12: The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The NEPSE index saw a rise of 1.22% or 25.31 points and closed at 2097.55 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">With the selling pressure of quarter end of the current fiscal year coming to a close, benchmark index has become positive. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">Buyers have been more active in the market, leading to an increase in trading volume during today’s trading session. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">On Wednesday, the sensitive index increased by 0.84 points, the float index increased by 1.17%, and the sensitive float index increased by 0.76 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">A total of 289 scrips traded hands via 59,539 transactions. A total of As many as 8,504,378 shares exchanged hands amounting to Rs. 3.18 billion in turnover amount.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">This is higher than the last trading day's turnover of Rs. 2.85 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 33.93 crores closing at a market price of Rs. 660 per share.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Five scrips hit the positive circuit for the day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">On the contrary, Rawa Energy Development Limited (RAWA) lost all 10% today.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Only two sector indices closed in the red zone.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">"Hydropower" gained the highest 4.41%, while "Finance" lost the highest 1.95% today.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18174', 'image' => '20230712045955_collage (74).jpg', 'article_date' => '2023-07-12 16:58:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18443', 'article_category_id' => '1', 'title' => 'Japan to Provide Scholarships worth Rs 385 Million to Civil Servants of Nepal', 'sub_title' => '', 'summary' => 'July 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).', '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 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Secretary Arjun Prasad Pokharel and Japanese Ambassador to Nepal Kikuta Yutaka signed the agreement amid a formal program held at the Ministry of Finance on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the Japanese government will provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">385</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">424</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million Japanese yen) as scholarships for civil servants in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant money will be used for postgraduate and PhD level scholarships for the civil servants. The Japanese government has been providing such assistance to Nepal since </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2015.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the JDS program, Japan has provided scholarships to </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""> civil servants in two phases from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2016</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the third phase of this scholarship program, </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"">civil servants will be able to study master's degree and two people will be able to study at the PhD level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shree Krishna Nepal, head of the International Economic Coordination Division under the Ministry of Finance, and Lizuka Kenichiro, a senior representative of the Japan International Cooperation Agency (JICA), were present during the signing ceremony.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18173', 'image' => '20230712040621_1689146427.Schoolship 1.jpg', 'article_date' => '2023-07-12 16:05:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18441', 'article_category_id' => '1', 'title' => 'Traffic Police Took Action against 876,000 Vehicles in Katmandu Valley this Year', 'sub_title' => '', 'summary' => 'July 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal 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 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal year. The teams deployed by the Kathmandu Valley Traffic Police Office took action against vehicles violating traffic rules in Kathmandu, Bhaktapur and Lalitpur in the current financial year (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"">Spokesperson for the traffic police office and Senior Superintendent of Police Rajendra Prasad Bhatt said 38,362 vehicles were fined for breaching lane discipline, 53,064 vehicles for driving under the influence of alcohol, 28,932 vehicles for driving while red lights were on.</span></span></span></span></p> <p><span style="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, action was taken against drivers of 56,524 vehicles for over-speeding, 136,039 vehicles for parking randomly, 736 for not using reservation seats, 14,447 blowing horns randomly, 148 people for driving vehicles under the influence of drugs and 16,485 people for overloading their vehicles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than 1,800 traffic police were mobilized from the Valley Traffic Police Office under the leadership of the Deputy Inspector General of Police (DIG) for the management of vehicles in the Kathmandu Valley. Currently, there are more than 3 million vehicles in operation across the country. Among them, only 1.2 million to 1.5 million vehicles are operating in Kathmandu Valley.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18171', 'image' => '20230712025957_1689151258.jpg', 'article_date' => '2023-07-12 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', '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' => '18445', 'article_category_id' => '1', 'title' => 'Bangladesh and India Commence Trade in Indian Rupee', 'sub_title' => '', 'summary' => 'Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">July 12: Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">For the first time, Bangladesh's bilateral trade with India was conducted in the Indian rupee in addition to the US dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Initially, the trade will be transacted in rupee and then gradually in Bangladeshi currency Taka upon the trade gap between the two countries decreasing, according to the central bank of Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The decision of doing trade in local currency has been taken as both neighboring countries face a dollar crisis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The local currency-based trade was inaugurated at an event held in the capital Dhaka jointly organized by Bangladesh Bank and the Indian High Commission in Dhaka.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Bangladesh Bank Governor Abdur Rouf Talukder and High Commissioner of India in Bangladesh Pranay Verma were present at the ceremony organized to launch the trade in India rupee. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The exchange rate will be determined in line with market demand and banks involved in the process, explained Amit Kumar, State Bank of India’s head of operation in Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">(Agencies)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18175', 'image' => '20230712053715_collage (75).jpg', 'article_date' => '2023-07-12 17:34:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18444', 'article_category_id' => '1', 'title' => 'NEPSE INDEX Gains 1.22% and Closes at 2097.55 Points', 'sub_title' => '', 'summary' => 'The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">July 12: The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The NEPSE index saw a rise of 1.22% or 25.31 points and closed at 2097.55 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">With the selling pressure of quarter end of the current fiscal year coming to a close, benchmark index has become positive. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">Buyers have been more active in the market, leading to an increase in trading volume during today’s trading session. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">On Wednesday, the sensitive index increased by 0.84 points, the float index increased by 1.17%, and the sensitive float index increased by 0.76 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">A total of 289 scrips traded hands via 59,539 transactions. A total of As many as 8,504,378 shares exchanged hands amounting to Rs. 3.18 billion in turnover amount.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">This is higher than the last trading day's turnover of Rs. 2.85 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 33.93 crores closing at a market price of Rs. 660 per share.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Five scrips hit the positive circuit for the day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">On the contrary, Rawa Energy Development Limited (RAWA) lost all 10% today.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Only two sector indices closed in the red zone.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">"Hydropower" gained the highest 4.41%, while "Finance" lost the highest 1.95% today.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18174', 'image' => '20230712045955_collage (74).jpg', 'article_date' => '2023-07-12 16:58:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18443', 'article_category_id' => '1', 'title' => 'Japan to Provide Scholarships worth Rs 385 Million to Civil Servants of Nepal', 'sub_title' => '', 'summary' => 'July 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).', '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 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Secretary Arjun Prasad Pokharel and Japanese Ambassador to Nepal Kikuta Yutaka signed the agreement amid a formal program held at the Ministry of Finance on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the Japanese government will provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">385</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">424</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million Japanese yen) as scholarships for civil servants in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant money will be used for postgraduate and PhD level scholarships for the civil servants. The Japanese government has been providing such assistance to Nepal since </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2015.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the JDS program, Japan has provided scholarships to </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""> civil servants in two phases from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2016</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the third phase of this scholarship program, </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"">civil servants will be able to study master's degree and two people will be able to study at the PhD level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shree Krishna Nepal, head of the International Economic Coordination Division under the Ministry of Finance, and Lizuka Kenichiro, a senior representative of the Japan International Cooperation Agency (JICA), were present during the signing ceremony.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18173', 'image' => '20230712040621_1689146427.Schoolship 1.jpg', 'article_date' => '2023-07-12 16:05:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18441', 'article_category_id' => '1', 'title' => 'Traffic Police Took Action against 876,000 Vehicles in Katmandu Valley this Year', 'sub_title' => '', 'summary' => 'July 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal 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 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal year. The teams deployed by the Kathmandu Valley Traffic Police Office took action against vehicles violating traffic rules in Kathmandu, Bhaktapur and Lalitpur in the current financial year (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"">Spokesperson for the traffic police office and Senior Superintendent of Police Rajendra Prasad Bhatt said 38,362 vehicles were fined for breaching lane discipline, 53,064 vehicles for driving under the influence of alcohol, 28,932 vehicles for driving while red lights were on.</span></span></span></span></p> <p><span style="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, action was taken against drivers of 56,524 vehicles for over-speeding, 136,039 vehicles for parking randomly, 736 for not using reservation seats, 14,447 blowing horns randomly, 148 people for driving vehicles under the influence of drugs and 16,485 people for overloading their vehicles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than 1,800 traffic police were mobilized from the Valley Traffic Police Office under the leadership of the Deputy Inspector General of Police (DIG) for the management of vehicles in the Kathmandu Valley. Currently, there are more than 3 million vehicles in operation across the country. Among them, only 1.2 million to 1.5 million vehicles are operating in Kathmandu Valley.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18171', 'image' => '20230712025957_1689151258.jpg', 'article_date' => '2023-07-12 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18445', 'article_category_id' => '1', 'title' => 'Bangladesh and India Commence Trade in Indian Rupee', 'sub_title' => '', 'summary' => 'Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">July 12: Bangladesh and India on Tuesday launched the trade transaction in Indian rupee in a bid to reduce their dependency on the US dollar and strengthen regional currency and trade.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">For the first time, Bangladesh's bilateral trade with India was conducted in the Indian rupee in addition to the US dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Initially, the trade will be transacted in rupee and then gradually in Bangladeshi currency Taka upon the trade gap between the two countries decreasing, according to the central bank of Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The decision of doing trade in local currency has been taken as both neighboring countries face a dollar crisis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The local currency-based trade was inaugurated at an event held in the capital Dhaka jointly organized by Bangladesh Bank and the Indian High Commission in Dhaka.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">Bangladesh Bank Governor Abdur Rouf Talukder and High Commissioner of India in Bangladesh Pranay Verma were present at the ceremony organized to launch the trade in India rupee. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">The exchange rate will be determined in line with market demand and banks involved in the process, explained Amit Kumar, State Bank of India’s head of operation in Bangladesh.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"GothamNarrow-Book",serif">(Agencies)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18175', 'image' => '20230712053715_collage (75).jpg', 'article_date' => '2023-07-12 17:34:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18444', 'article_category_id' => '1', 'title' => 'NEPSE INDEX Gains 1.22% and Closes at 2097.55 Points', 'sub_title' => '', 'summary' => 'The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">July 12: The Nepal Index witnessed an increase along with transaction amount on the fourth trading of the week-Wednesday. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The NEPSE index saw a rise of 1.22% or 25.31 points and closed at 2097.55 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">With the selling pressure of quarter end of the current fiscal year coming to a close, benchmark index has become positive. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">Buyers have been more active in the market, leading to an increase in trading volume during today’s trading session. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">On Wednesday, the sensitive index increased by 0.84 points, the float index increased by 1.17%, and the sensitive float index increased by 0.76 points. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">A total of 289 scrips traded hands via 59,539 transactions. A total of As many as 8,504,378 shares exchanged hands amounting to Rs. 3.18 billion in turnover amount.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">This is higher than the last trading day's turnover of Rs. 2.85 billion. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 33.93 crores closing at a market price of Rs. 660 per share.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Five scrips hit the positive circuit for the day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">On the contrary, Rawa Energy Development Limited (RAWA) lost all 10% today.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Only two sector indices closed in the red zone.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">"Hydropower" gained the highest 4.41%, while "Finance" lost the highest 1.95% today.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18174', 'image' => '20230712045955_collage (74).jpg', 'article_date' => '2023-07-12 16:58:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18443', 'article_category_id' => '1', 'title' => 'Japan to Provide Scholarships worth Rs 385 Million to Civil Servants of Nepal', 'sub_title' => '', 'summary' => 'July 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).', '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 12: The Government of Nepal and the Government of Japan have signed a grant agreement for the implementation of the third phase of the Project for Human Resource Development Scholarship (JDS).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Secretary Arjun Prasad Pokharel and Japanese Ambassador to Nepal Kikuta Yutaka signed the agreement amid a formal program held at the Ministry of Finance on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the Japanese government will provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">385</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">424</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million Japanese yen) as scholarships for civil servants in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant money will be used for postgraduate and PhD level scholarships for the civil servants. The Japanese government has been providing such assistance to Nepal since </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2015.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the JDS program, Japan has provided scholarships to </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""> civil servants in two phases from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2016</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Under the third phase of this scholarship program, </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"">civil servants will be able to study master's degree and two people will be able to study at the PhD level.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shree Krishna Nepal, head of the International Economic Coordination Division under the Ministry of Finance, and Lizuka Kenichiro, a senior representative of the Japan International Cooperation Agency (JICA), were present during the signing ceremony.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18173', 'image' => '20230712040621_1689146427.Schoolship 1.jpg', 'article_date' => '2023-07-12 16:05:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18441', 'article_category_id' => '1', 'title' => 'Traffic Police Took Action against 876,000 Vehicles in Katmandu Valley this Year', 'sub_title' => '', 'summary' => 'July 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal 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 12: The traffic police took action against 876,141 vehicles violating traffic rules in Kathmandu Valley in the current fiscal year. The teams deployed by the Kathmandu Valley Traffic Police Office took action against vehicles violating traffic rules in Kathmandu, Bhaktapur and Lalitpur in the current financial year (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"">Spokesperson for the traffic police office and Senior Superintendent of Police Rajendra Prasad Bhatt said 38,362 vehicles were fined for breaching lane discipline, 53,064 vehicles for driving under the influence of alcohol, 28,932 vehicles for driving while red lights were on.</span></span></span></span></p> <p><span style="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, action was taken against drivers of 56,524 vehicles for over-speeding, 136,039 vehicles for parking randomly, 736 for not using reservation seats, 14,447 blowing horns randomly, 148 people for driving vehicles under the influence of drugs and 16,485 people for overloading their vehicles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than 1,800 traffic police were mobilized from the Valley Traffic Police Office under the leadership of the Deputy Inspector General of Police (DIG) for the management of vehicles in the Kathmandu Valley. Currently, there are more than 3 million vehicles in operation across the country. Among them, only 1.2 million to 1.5 million vehicles are operating in Kathmandu Valley.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18171', 'image' => '20230712025957_1689151258.jpg', 'article_date' => '2023-07-12 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', '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
