July 6: Two private business entities have decided to join hands for economic stability.…
July 6: Two private business entities have decided to join hands for economic stability.…
Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality…
A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway…
The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22…
The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant…
July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday.…
July 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July…
July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank.…
July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on…
July 5: The country will see partial to general changes in weather today due to the influence of the monsoon…
July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on…
July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on…
Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation…
Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year…
With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased. The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 6: Two private business entities have decided to join hands for economic stability. Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) are determined to work together for economic stability and development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized in the federal capital on Wednesday, NCC Chairperson Rajendra Malla underscored the need of effective coordination for budget and monetary policies. </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"">"We need to cooperate with each other to get private sector' demands fulfilled and the country's economic activities elevated," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Malla rued over downcast morale of the private sector for long reasoning that investment atmosphere was not favourable due to high interest rate. Fiscal stability should be ensured via monetary policy, he said, urging all business entities to exert collective pressure on the government bodies to this end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CNI Chair Rajesh Kumar Agrawal said that cooperation among private sector stakeholders is essential for effective implementation of the monetary policy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18107', 'image' => '20230706110505_NCCC.jpg', 'article_date' => '2023-07-06 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18376', 'article_category_id' => '1', 'title' => 'Neco Insurance Provides Rs 1.1 Million to Hospital', 'sub_title' => '', 'summary' => 'Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Neco Insurance, which has been serving in the non- life insurance market of the country for the past 27 years, has extended its financial assistance as part of corporate social responsibility, according to the Neco Insurance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The building of the hospital was constructed with the support of the Indian Embassy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“The company provided the assistance to the hospital as it has been facing shortage of medical equipment, medicines, and other supplies,” the company’s press statement reads. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company believes that the financial aid will support for parturition and child care services in the Madhes. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an event organized at the hospital, Mr. Ashok Kumar Khadka, the Chief Executive Officer of the company, handed over the cheque to the hospital.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18106', 'image' => '20230706061419_collage (1).jpg', 'article_date' => '2023-07-06 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18375', 'article_category_id' => '1', 'title' => 'Dry landslide Blocks Prithvi Highway', 'sub_title' => '', 'summary' => 'A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mohan Bahadur Khand, Deputy Superintendent of Police at the District Police Office in Tanahu, has confirmed that a collaborative effort is underway to remove the debris caused by the landslide. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The joint operation involves the Chinese contractor company, local authorities, and community members, all working together to restore traffic flow on the affected road.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate the inconvenience faced by travelers, the police have implemented a temporary diversion plan for small and mid-size vehicles traveling towards Pokhara via Tanahu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These vehicles are being rerouted through Polyang, taking the path from Damauli Bhirletarchowk via Kolesti. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18105', 'image' => '20230706055652_collage.jpg', 'article_date' => '2023-07-06 05:55:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18374', 'article_category_id' => '1', 'title' => '22 Films Participating in 11th NAFFF', 'sub_title' => '', 'summary' => ' The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Festival, organized by the College of Journalism and Mass Communications (CJMC) and supported by the Film Development Board and Bilakshan Creation, will serve as a dynamic platform for fostering cultural exchanges between Nepal and Africa, according to Festival and CJMC Director Manju Mishra.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We try to connect the two different continents by the means of films," she said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ten African movies and 12 Nepali films and documentaries will be screened in the event. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to director Dabbu Chhetri, a day-long acting workshop themed 'National and International Market for Short Nepali Movies' has been scheduled during the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event will be held at local Rastriya Nachghar in Jamal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18104', 'image' => '20230705062355_collage (71).jpg', 'article_date' => '2023-07-05 18:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18373', 'article_category_id' => '1', 'title' => 'Around 750,000 Nepalis Acquire Labour Permits in Eleven and Half Months', 'sub_title' => '', 'summary' => 'The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 5: The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Department of Foreign Employment has disclosed that approximately 750,000 Nepali citizens secured labour permits as of July 1, marking the culmination of the current fiscal year 2022/23, which concludes on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This figure represents a notable increase compared to the roughly 650,000 permits granted during the previous year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Gurudatta Subedi, the Director and Information Officer of the Department, shared that out of the 750,000 labour permits issued, 740,000 were acquired by individuals seeking overseas employment opportunities. The majority of these hopeful job seekers aspire to work in Gulf countries and Malaysia.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Additionally, other destinations include Croatia, Cyprus, France, Poland, and Romania.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Highlighting the scale of this trend, Subedi mentioned that Nepal is witnessing a daily exodus of over 60,000 youths seeking job prospects abroad.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In the Nepali month of Falgun alone, 61,845 Nepali individuals embarked on foreign employment ventures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Furthermore, the Department of Labour and Occupational Safety's Technical Director and Spokesperson, Maninath Gope, revealed that within the last two months, 1,396 foreign citizens acquired labour permits to work in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, 458 foreign nationals had their labour permits renewed during the same period. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18103', 'image' => '20230705045056_collage (70).jpg', 'article_date' => '2023-07-05 16:49:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18372', 'article_category_id' => '1', 'title' => 'NRB to Issue Development Bonds worth Rs 10 Billion on Thursday ', 'sub_title' => '', 'summary' => 'July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. The central bank is planning to issue the 'Development Bond 2086' on July 6 with a maturity period of six years, the central bank said in a notice published on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that the government uses development bonds as a tool to raise public debt. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks and finance companies, non-bank and financial institutions, insurance companies and organised institutions as well as common people can purchase the development bonds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The coupon rate of the development bonds will be determined in an auction through online bidding, according to the NRB. Interested parties can bid for the development bonds through NRB’s Online Bidding System Software at https:// obss.nrb.org.np/pd from 3 pm onwards on July 6. The notice states that the clearance of the interest will take place on a half-yearly basis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The bonds can be kept as collateral for taking loans. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18102', 'image' => '20230705033919_1688464286.revenue 1.jpg', 'article_date' => '2023-07-05 15:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18370', 'article_category_id' => '1', 'title' => 'Finance Ministry Faces Uphill Battle to Collect Revenue of Rs 500 Billion in Current FY', 'sub_title' => '', 'summary' => 'July 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.', '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 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.</span></span></span></span></p> <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"">According to the Ministry of Finance, this is about 64 percent of the revenue collection target. In order to collect the revenue as per the target of the current year, it is necessary to collect about Rs 500 billion in the current fiscal year which ends on July 16.</span></span></span></span></p> <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 finance ministry admitted that the revenue collection has slumped due to the decrease in the revenue collection from the customs following a decline in imports. Officials of the ministry also say that the tight monetary policy and weak investment in the private sector have caused problems in achieving the expected success in infrastructure development during this period. </span></span></span></span></p> <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"">According to the ministry, the trade deficit on the other hand has decreased due to the decline in imports, improvement in inflow of remittances and increase in arrival of tourists during the review period.</span></span></span></span></p> <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"">While the revenue collection target from customs was set at Rs 609.54 billion, only Rs 384.18 billion has been collected as of mid-June. This is only 61.29 percent of the target.</span></span></span></span></p> <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"">While the revenue collection target of Rs 524.34 billion has been set for the Inland Revenue Department, it has only collected Rs 410.82 billion so far. This is 70.15 percent of the target.</span></span></span></span></p> <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"">According to the ministry, domestic production and trade have decreased and domestic revenue has not increased as expected.</span></span></span></span></p> <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"">In terms of non-tax collection, the government has collected Rs 77.75 billion which is 11.88 percent more than the previous year.</span></span></span></span></p> <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"">During this period, the expenditure of the federal government has been Rs 1254 billion.</span></span></span></span></p> <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"">According to the ministry, the government has spent Rs 929 billion have been spent on current expenses, Rs 168 billion on capital expenditure, and Rs 155 billion on financial management. </span></span></span></span></p> <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"">In the current fiscal year, the government intends to raise the budget through revenue collection of Rs 1240 billion, foreign loan of Rs 242 billion and internal debt of Rs 256 billion.</span></span></span></span></p> <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 total budget announced for the current fiscal year was Rs 1793 billion, including the current expenditure of Rs 1183 billion, capital expenses of Rs 380 billion and financial management of Rs 230 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18100', 'image' => '20230705020743_finminnnn.jpg', 'article_date' => '2023-07-05 14:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18369', 'article_category_id' => '1', 'title' => 'Applications for Reverse Repo Exceed Demand', 'sub_title' => '', 'summary' => 'July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. NRB issued bids for reverse repo on Tuesday to mop excess liquidity from the market. NRB received application worth Rs 28.80 billion for reverse repo worth Rs 20 billion.</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 Tuesday's reverse repo, 11 banks and financial institutions submitted 61 bids in which the maximum interest rate was 5.37 percent, the minimum interest rate was 4.49 percent interest rate, and the average interest rate has been maintained at 5.05 percent.</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"">This is the third reverse repo issued in the current fiscal year. NRB had issed reverse repo worth Rs 5 billion in the month of Magh (mid-January to mid-February) of the current fiscal year, and Rs 23.10 billion on June 22 and June 25.</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 monetary policy, there is a provision to issue repo/reverse repo if the average interest rate of interbank transactions is more than 2 percentage points lower than the policy rate. Currently, the policy rate is set at 7 percent.</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"">With high liquidity in the financial system, the interest rate of interbank transactions fell to 3.42 percent on Sunday. Until Sunday, banks and financial institutions have collected Rs 561.3 billion deposits and have invested Rs 4862 billion loans. </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"">The average credit-to-deposit ratio (CD ratio) of banks has also fallen to 83.47 percent due to lack of credit flow compared to the increase in deposit collection.</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"">Banks have the ability to provide loans of more than Rs 350 billion according to the provision of the central bank under which they can extend loans by maintaining a CD ratio of up to 90 percent. Lately, despite the ease in liquidity in banks, they have not been able to extend credit, so they are focusing on short-term investments, including government bonds. As a result, short-term interest rates, including that of treasury bills and interbank transactions are decreasing. The interest rate of government bonds and treasury bills has fallen below 5 percent.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18099', 'image' => '20230705014144_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-05 13:40:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18368', 'article_category_id' => '1', 'title' => 'CNI Delegation Seeks Government's Role in Improving Economic Activities ', 'sub_title' => '', 'summary' => 'July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the separate meetings, the confederation team led by newly-elected President Rajesh Kumar Agrawal exchanged views on the nation's economy, labour and transport issues and so on with the ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The confederation demanded the government to help promote economic activities and the private sector. They said that the private sector has been affected the economic slowdown and the government's efforts are necessary to revive it. The government was also urged to increase minimum remunerations of the employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the ministers congratulated the newly elected executive committee of the confederation, wishing them a successful tenure. They assured of the government’s support to the private sector, the confederation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18098', 'image' => '20230705010615_cni.jpg', 'article_date' => '2023-07-05 13:05:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18367', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorm Predicted for Today ', 'sub_title' => '', 'summary' => 'July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rainfall with thunderstorm and lightning is predicted in some parts of the country including Madhes, Lumbini and Sudurpaschim provinces. There is also a chance of storm in a few plain areas of Lumbini and Sudurapschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, light to moderate rainfall is likely to take place in some parts of the country this afternoon. </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"">Now light to moderate rainfall is taking place in some places of Koshi, Madhes and Lumbini provinces due to minor to complete changes in weather across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is likelihood of light to moderate rain in some areas in the night due to partial to general changes across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division shared the possibility of heavy rain with thunderstorm and lightning in some places of Lumbini and Sudurpaschim provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18097', 'image' => '20230705122904_rain.jpeg', 'article_date' => '2023-07-05 12:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18366', 'article_category_id' => '1', 'title' => 'Finance Bill and Bill to Raise National Debt Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National Assembly secretary Dr Surendra Aryal tabled the two bills along with the message received from the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deliberations on the Appropriation Bill continued in the National Assembly meeting on Tuesday. In this connection, the upper house discussed the budget allotted to the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Physical Infrastructure and Transport, the Ministry of Federal Affairs and General Administration and the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proposals for reduction in the budget apportioned to these ministries in the Appropriation Bill were also been presented in the National Assembly meeting. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18096', 'image' => '20230705115343_RS-KTM-Meetingb.jpg', 'article_date' => '2023-07-05 11:53:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18365', 'article_category_id' => '1', 'title' => 'Rock Singer Robin Tamang No More', 'sub_title' => '', 'summary' => 'July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday. He was 60. Tamang breathed his last in his own residence at Budhanilakantha, informed his sister Bhagawati Tamang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police Inspector at the Budhanilaknatha Police Circle, Deependra Chand said the police received a phone call on Tuesday evening after singer Tamang did not pick up phone calls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chand informed the state-owned RSS that singer Tamang was found dead on his bed side when a police team reached his room. Reason behind his death will be identified after post-mortem, police said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tamang, a vocalist of the Robin and the Revolution Band, was also active in cinema acting. Lately he was featured in a film 'Chhadke-2'. Tamang had substantial contributions to enrichment of the Nepal rock style songs and music. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali music practitioners have expressed grief over the passing away of Tamang through social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the popular songs of Tamang are 'Nepal', 'Ekata', 'Chiso Chiso Hawama', 'Maila Bhai', 'Jati Maya Laye Pani', 'Dam Maro Dam' and 'Bhul Ma Bhulyo'. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18095', 'image' => '20230705111845_robin.jpg', 'article_date' => '2023-07-05 11:17:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18364', 'article_category_id' => '1', 'title' => 'Six International Companies Including Google, and Facebook Registered in Nepal's Taxation System ', 'sub_title' => '', 'summary' => 'Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government introduced the Digital Service Tax provision under the Financial Act to ensure that foreign companies providing electronic services are subject to taxation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sadhuram Pudasaini, Tax Officer at the Large Taxpayers' Office, confirmed the registration of these companies in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, three companies with offices in Singapore (Google Asia Pacific Private Limited, Microsoft Regional Sales - Private Limited, and LinkedIn Singapore Private Limited) and three others (NCS Pearson Inc, EBSCO, and Meta Platforms Ireland Ltd) have been registered.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This registration includes popular social networking sites such as Instagram, WhatsApp, and LinkedIn. However, due to flaws in the provision, many companies in the IT sector remain outside the taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there are provisions for taking action against foreign companies that fail to pay taxes, there is no clear mention of the actions to be taken against unregistered companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, numerous companies in the information technology sector are currently operating outside the taxation system in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A government study has revealed a significant revenue loss resulting from the absence of taxation for companies engaged in digital transactions and operating social networking sites in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to a report by the Revenue Consultation Committee, citing data from www.datareportal.com, Nepal had over 13.3 million Facebook users in 2022. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Based on statistics, Facebook alone earns over Rs 60 billion annually through advertisements viewed by Nepali users.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(Hemanta Joshi, RSS) </span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18094', 'image' => '20230705055850_collage (15).jpg', 'article_date' => '2023-07-05 05:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18363', 'article_category_id' => '1', 'title' => 'Green Signals for Vibrant Economy Observed: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaking at a meeting of the Finance Committee of the House of Representatives, the Minister stated that the economy is poised for an upward trend, putting pressure on the government to accelerate progress towards its goals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Minister emphasized the need for collective efforts and commitments to drive economic expansion. The government is committed to increasing revenue collection and capital expenditure while discouraging general expenditures, he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the overall outlook is positive, the Minister acknowledged that challenges are inevitable in any economy, requiring effective solutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the meeting, Revenue Secretary Dr. Ram Prasad Ghimire highlighted the challenges posed by increasing responsibilities for pension, social security, and remuneration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government must manage additional resources of approximately Rs 25 billion by July 10 to meet its mandatory obligations in the current fiscal year. In light of the current resource collection situation, reducing expenditures has become necessary, said Secretary Ghimire. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee members expressed concerns about the shortfall in revenue collection, which hampers efforts to address economic slowdown and promote investment in the industrial sector. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They also raised questions regarding the potential challenges and alternatives in managing fluctuations in remittance inflows, emphasizing the significant role of remittances in the national economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, they inquired about the lack of allocated budget for the management of chemical fertilizer, the agricultural sector, and strategic roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The members queried whether there are other sources for managing the foreign exchange reserve apart from remittances, stating their opinion that achieving budget goals may be challenging due to scattered budgets across small projects. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18093', 'image' => '20230705054200_collage (14).jpg', 'article_date' => '2023-07-05 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18362', 'article_category_id' => '1', 'title' => 'CAAN Slashes Airfares for Domestic Flights', 'sub_title' => '', 'summary' => 'With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased. The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 4: With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the authority, the airfare for domestic flights has been reduced from a minimum of Rs 60 to a maximum of Rs 750.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the Biratnagar-Nepalgunj route, per ticket price has been slashed by Rs 750. Similarly, the Kathmandu-Dhangadhi route has seen a decrease of Rs 615 in fares. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the fares for Kathmandu-Bhadrapur are now down by Rs 420, Kathmandu-Biratnagar by Rs 335, Kathmandu-Janakpur by Rs 180.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, airfare for Kathmandu-Bharatpur is down by Rs 150, Kathmandu-Pokhara by Rs 225, and Kathmandu-Bhairahawa by Rs 285. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Air ticket for Kathmandu-Nepalgunj route has decreased by Rs 455, and Kathmandu-Simara by Rs 125.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-04', 'modified' => '2023-07-04', 'keywords' => '', 'description' => '', 'sortorder' => '18092', 'image' => '20230704051530_collage (68).jpg', 'article_date' => '2023-07-04 17:14:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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' => '18378', 'article_category_id' => '1', 'title' => 'Business Entities to Cooperate for Economic Stability ', 'sub_title' => '', 'summary' => 'July 6: Two private business entities have decided to join hands for economic stability. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 6: Two private business entities have decided to join hands for economic stability. Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) are determined to work together for economic stability and development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized in the federal capital on Wednesday, NCC Chairperson Rajendra Malla underscored the need of effective coordination for budget and monetary policies. </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"">"We need to cooperate with each other to get private sector' demands fulfilled and the country's economic activities elevated," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Malla rued over downcast morale of the private sector for long reasoning that investment atmosphere was not favourable due to high interest rate. Fiscal stability should be ensured via monetary policy, he said, urging all business entities to exert collective pressure on the government bodies to this end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CNI Chair Rajesh Kumar Agrawal said that cooperation among private sector stakeholders is essential for effective implementation of the monetary policy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18107', 'image' => '20230706110505_NCCC.jpg', 'article_date' => '2023-07-06 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18376', 'article_category_id' => '1', 'title' => 'Neco Insurance Provides Rs 1.1 Million to Hospital', 'sub_title' => '', 'summary' => 'Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Neco Insurance, which has been serving in the non- life insurance market of the country for the past 27 years, has extended its financial assistance as part of corporate social responsibility, according to the Neco Insurance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The building of the hospital was constructed with the support of the Indian Embassy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“The company provided the assistance to the hospital as it has been facing shortage of medical equipment, medicines, and other supplies,” the company’s press statement reads. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company believes that the financial aid will support for parturition and child care services in the Madhes. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an event organized at the hospital, Mr. Ashok Kumar Khadka, the Chief Executive Officer of the company, handed over the cheque to the hospital.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18106', 'image' => '20230706061419_collage (1).jpg', 'article_date' => '2023-07-06 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18375', 'article_category_id' => '1', 'title' => 'Dry landslide Blocks Prithvi Highway', 'sub_title' => '', 'summary' => 'A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mohan Bahadur Khand, Deputy Superintendent of Police at the District Police Office in Tanahu, has confirmed that a collaborative effort is underway to remove the debris caused by the landslide. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The joint operation involves the Chinese contractor company, local authorities, and community members, all working together to restore traffic flow on the affected road.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate the inconvenience faced by travelers, the police have implemented a temporary diversion plan for small and mid-size vehicles traveling towards Pokhara via Tanahu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These vehicles are being rerouted through Polyang, taking the path from Damauli Bhirletarchowk via Kolesti. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18105', 'image' => '20230706055652_collage.jpg', 'article_date' => '2023-07-06 05:55:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18374', 'article_category_id' => '1', 'title' => '22 Films Participating in 11th NAFFF', 'sub_title' => '', 'summary' => ' The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Festival, organized by the College of Journalism and Mass Communications (CJMC) and supported by the Film Development Board and Bilakshan Creation, will serve as a dynamic platform for fostering cultural exchanges between Nepal and Africa, according to Festival and CJMC Director Manju Mishra.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We try to connect the two different continents by the means of films," she said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ten African movies and 12 Nepali films and documentaries will be screened in the event. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to director Dabbu Chhetri, a day-long acting workshop themed 'National and International Market for Short Nepali Movies' has been scheduled during the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event will be held at local Rastriya Nachghar in Jamal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18104', 'image' => '20230705062355_collage (71).jpg', 'article_date' => '2023-07-05 18:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18373', 'article_category_id' => '1', 'title' => 'Around 750,000 Nepalis Acquire Labour Permits in Eleven and Half Months', 'sub_title' => '', 'summary' => 'The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 5: The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Department of Foreign Employment has disclosed that approximately 750,000 Nepali citizens secured labour permits as of July 1, marking the culmination of the current fiscal year 2022/23, which concludes on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This figure represents a notable increase compared to the roughly 650,000 permits granted during the previous year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Gurudatta Subedi, the Director and Information Officer of the Department, shared that out of the 750,000 labour permits issued, 740,000 were acquired by individuals seeking overseas employment opportunities. The majority of these hopeful job seekers aspire to work in Gulf countries and Malaysia.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Additionally, other destinations include Croatia, Cyprus, France, Poland, and Romania.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Highlighting the scale of this trend, Subedi mentioned that Nepal is witnessing a daily exodus of over 60,000 youths seeking job prospects abroad.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In the Nepali month of Falgun alone, 61,845 Nepali individuals embarked on foreign employment ventures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Furthermore, the Department of Labour and Occupational Safety's Technical Director and Spokesperson, Maninath Gope, revealed that within the last two months, 1,396 foreign citizens acquired labour permits to work in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, 458 foreign nationals had their labour permits renewed during the same period. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18103', 'image' => '20230705045056_collage (70).jpg', 'article_date' => '2023-07-05 16:49:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18372', 'article_category_id' => '1', 'title' => 'NRB to Issue Development Bonds worth Rs 10 Billion on Thursday ', 'sub_title' => '', 'summary' => 'July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. The central bank is planning to issue the 'Development Bond 2086' on July 6 with a maturity period of six years, the central bank said in a notice published on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that the government uses development bonds as a tool to raise public debt. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks and finance companies, non-bank and financial institutions, insurance companies and organised institutions as well as common people can purchase the development bonds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The coupon rate of the development bonds will be determined in an auction through online bidding, according to the NRB. Interested parties can bid for the development bonds through NRB’s Online Bidding System Software at https:// obss.nrb.org.np/pd from 3 pm onwards on July 6. The notice states that the clearance of the interest will take place on a half-yearly basis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The bonds can be kept as collateral for taking loans. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18102', 'image' => '20230705033919_1688464286.revenue 1.jpg', 'article_date' => '2023-07-05 15:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18370', 'article_category_id' => '1', 'title' => 'Finance Ministry Faces Uphill Battle to Collect Revenue of Rs 500 Billion in Current FY', 'sub_title' => '', 'summary' => 'July 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.', '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 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.</span></span></span></span></p> <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"">According to the Ministry of Finance, this is about 64 percent of the revenue collection target. In order to collect the revenue as per the target of the current year, it is necessary to collect about Rs 500 billion in the current fiscal year which ends on July 16.</span></span></span></span></p> <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 finance ministry admitted that the revenue collection has slumped due to the decrease in the revenue collection from the customs following a decline in imports. Officials of the ministry also say that the tight monetary policy and weak investment in the private sector have caused problems in achieving the expected success in infrastructure development during this period. </span></span></span></span></p> <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"">According to the ministry, the trade deficit on the other hand has decreased due to the decline in imports, improvement in inflow of remittances and increase in arrival of tourists during the review period.</span></span></span></span></p> <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"">While the revenue collection target from customs was set at Rs 609.54 billion, only Rs 384.18 billion has been collected as of mid-June. This is only 61.29 percent of the target.</span></span></span></span></p> <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"">While the revenue collection target of Rs 524.34 billion has been set for the Inland Revenue Department, it has only collected Rs 410.82 billion so far. This is 70.15 percent of the target.</span></span></span></span></p> <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"">According to the ministry, domestic production and trade have decreased and domestic revenue has not increased as expected.</span></span></span></span></p> <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"">In terms of non-tax collection, the government has collected Rs 77.75 billion which is 11.88 percent more than the previous year.</span></span></span></span></p> <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"">During this period, the expenditure of the federal government has been Rs 1254 billion.</span></span></span></span></p> <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"">According to the ministry, the government has spent Rs 929 billion have been spent on current expenses, Rs 168 billion on capital expenditure, and Rs 155 billion on financial management. </span></span></span></span></p> <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"">In the current fiscal year, the government intends to raise the budget through revenue collection of Rs 1240 billion, foreign loan of Rs 242 billion and internal debt of Rs 256 billion.</span></span></span></span></p> <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 total budget announced for the current fiscal year was Rs 1793 billion, including the current expenditure of Rs 1183 billion, capital expenses of Rs 380 billion and financial management of Rs 230 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18100', 'image' => '20230705020743_finminnnn.jpg', 'article_date' => '2023-07-05 14:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18369', 'article_category_id' => '1', 'title' => 'Applications for Reverse Repo Exceed Demand', 'sub_title' => '', 'summary' => 'July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. NRB issued bids for reverse repo on Tuesday to mop excess liquidity from the market. NRB received application worth Rs 28.80 billion for reverse repo worth Rs 20 billion.</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 Tuesday's reverse repo, 11 banks and financial institutions submitted 61 bids in which the maximum interest rate was 5.37 percent, the minimum interest rate was 4.49 percent interest rate, and the average interest rate has been maintained at 5.05 percent.</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"">This is the third reverse repo issued in the current fiscal year. NRB had issed reverse repo worth Rs 5 billion in the month of Magh (mid-January to mid-February) of the current fiscal year, and Rs 23.10 billion on June 22 and June 25.</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 monetary policy, there is a provision to issue repo/reverse repo if the average interest rate of interbank transactions is more than 2 percentage points lower than the policy rate. Currently, the policy rate is set at 7 percent.</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"">With high liquidity in the financial system, the interest rate of interbank transactions fell to 3.42 percent on Sunday. Until Sunday, banks and financial institutions have collected Rs 561.3 billion deposits and have invested Rs 4862 billion loans. </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"">The average credit-to-deposit ratio (CD ratio) of banks has also fallen to 83.47 percent due to lack of credit flow compared to the increase in deposit collection.</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"">Banks have the ability to provide loans of more than Rs 350 billion according to the provision of the central bank under which they can extend loans by maintaining a CD ratio of up to 90 percent. Lately, despite the ease in liquidity in banks, they have not been able to extend credit, so they are focusing on short-term investments, including government bonds. As a result, short-term interest rates, including that of treasury bills and interbank transactions are decreasing. The interest rate of government bonds and treasury bills has fallen below 5 percent.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18099', 'image' => '20230705014144_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-05 13:40:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18368', 'article_category_id' => '1', 'title' => 'CNI Delegation Seeks Government's Role in Improving Economic Activities ', 'sub_title' => '', 'summary' => 'July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the separate meetings, the confederation team led by newly-elected President Rajesh Kumar Agrawal exchanged views on the nation's economy, labour and transport issues and so on with the ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The confederation demanded the government to help promote economic activities and the private sector. They said that the private sector has been affected the economic slowdown and the government's efforts are necessary to revive it. The government was also urged to increase minimum remunerations of the employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the ministers congratulated the newly elected executive committee of the confederation, wishing them a successful tenure. They assured of the government’s support to the private sector, the confederation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18098', 'image' => '20230705010615_cni.jpg', 'article_date' => '2023-07-05 13:05:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18367', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorm Predicted for Today ', 'sub_title' => '', 'summary' => 'July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rainfall with thunderstorm and lightning is predicted in some parts of the country including Madhes, Lumbini and Sudurpaschim provinces. There is also a chance of storm in a few plain areas of Lumbini and Sudurapschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, light to moderate rainfall is likely to take place in some parts of the country this afternoon. </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"">Now light to moderate rainfall is taking place in some places of Koshi, Madhes and Lumbini provinces due to minor to complete changes in weather across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is likelihood of light to moderate rain in some areas in the night due to partial to general changes across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division shared the possibility of heavy rain with thunderstorm and lightning in some places of Lumbini and Sudurpaschim provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18097', 'image' => '20230705122904_rain.jpeg', 'article_date' => '2023-07-05 12:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18366', 'article_category_id' => '1', 'title' => 'Finance Bill and Bill to Raise National Debt Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National Assembly secretary Dr Surendra Aryal tabled the two bills along with the message received from the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deliberations on the Appropriation Bill continued in the National Assembly meeting on Tuesday. In this connection, the upper house discussed the budget allotted to the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Physical Infrastructure and Transport, the Ministry of Federal Affairs and General Administration and the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proposals for reduction in the budget apportioned to these ministries in the Appropriation Bill were also been presented in the National Assembly meeting. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18096', 'image' => '20230705115343_RS-KTM-Meetingb.jpg', 'article_date' => '2023-07-05 11:53:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18365', 'article_category_id' => '1', 'title' => 'Rock Singer Robin Tamang No More', 'sub_title' => '', 'summary' => 'July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday. He was 60. Tamang breathed his last in his own residence at Budhanilakantha, informed his sister Bhagawati Tamang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police Inspector at the Budhanilaknatha Police Circle, Deependra Chand said the police received a phone call on Tuesday evening after singer Tamang did not pick up phone calls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chand informed the state-owned RSS that singer Tamang was found dead on his bed side when a police team reached his room. Reason behind his death will be identified after post-mortem, police said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tamang, a vocalist of the Robin and the Revolution Band, was also active in cinema acting. Lately he was featured in a film 'Chhadke-2'. Tamang had substantial contributions to enrichment of the Nepal rock style songs and music. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali music practitioners have expressed grief over the passing away of Tamang through social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the popular songs of Tamang are 'Nepal', 'Ekata', 'Chiso Chiso Hawama', 'Maila Bhai', 'Jati Maya Laye Pani', 'Dam Maro Dam' and 'Bhul Ma Bhulyo'. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18095', 'image' => '20230705111845_robin.jpg', 'article_date' => '2023-07-05 11:17:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18364', 'article_category_id' => '1', 'title' => 'Six International Companies Including Google, and Facebook Registered in Nepal's Taxation System ', 'sub_title' => '', 'summary' => 'Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government introduced the Digital Service Tax provision under the Financial Act to ensure that foreign companies providing electronic services are subject to taxation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sadhuram Pudasaini, Tax Officer at the Large Taxpayers' Office, confirmed the registration of these companies in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, three companies with offices in Singapore (Google Asia Pacific Private Limited, Microsoft Regional Sales - Private Limited, and LinkedIn Singapore Private Limited) and three others (NCS Pearson Inc, EBSCO, and Meta Platforms Ireland Ltd) have been registered.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This registration includes popular social networking sites such as Instagram, WhatsApp, and LinkedIn. However, due to flaws in the provision, many companies in the IT sector remain outside the taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there are provisions for taking action against foreign companies that fail to pay taxes, there is no clear mention of the actions to be taken against unregistered companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, numerous companies in the information technology sector are currently operating outside the taxation system in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A government study has revealed a significant revenue loss resulting from the absence of taxation for companies engaged in digital transactions and operating social networking sites in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to a report by the Revenue Consultation Committee, citing data from www.datareportal.com, Nepal had over 13.3 million Facebook users in 2022. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Based on statistics, Facebook alone earns over Rs 60 billion annually through advertisements viewed by Nepali users.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(Hemanta Joshi, RSS) </span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18094', 'image' => '20230705055850_collage (15).jpg', 'article_date' => '2023-07-05 05:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18363', 'article_category_id' => '1', 'title' => 'Green Signals for Vibrant Economy Observed: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaking at a meeting of the Finance Committee of the House of Representatives, the Minister stated that the economy is poised for an upward trend, putting pressure on the government to accelerate progress towards its goals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Minister emphasized the need for collective efforts and commitments to drive economic expansion. The government is committed to increasing revenue collection and capital expenditure while discouraging general expenditures, he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the overall outlook is positive, the Minister acknowledged that challenges are inevitable in any economy, requiring effective solutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the meeting, Revenue Secretary Dr. Ram Prasad Ghimire highlighted the challenges posed by increasing responsibilities for pension, social security, and remuneration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government must manage additional resources of approximately Rs 25 billion by July 10 to meet its mandatory obligations in the current fiscal year. In light of the current resource collection situation, reducing expenditures has become necessary, said Secretary Ghimire. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee members expressed concerns about the shortfall in revenue collection, which hampers efforts to address economic slowdown and promote investment in the industrial sector. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They also raised questions regarding the potential challenges and alternatives in managing fluctuations in remittance inflows, emphasizing the significant role of remittances in the national economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, they inquired about the lack of allocated budget for the management of chemical fertilizer, the agricultural sector, and strategic roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The members queried whether there are other sources for managing the foreign exchange reserve apart from remittances, stating their opinion that achieving budget goals may be challenging due to scattered budgets across small projects. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18093', 'image' => '20230705054200_collage (14).jpg', 'article_date' => '2023-07-05 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18362', 'article_category_id' => '1', 'title' => 'CAAN Slashes Airfares for Domestic Flights', 'sub_title' => '', 'summary' => 'With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased. The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 4: With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the authority, the airfare for domestic flights has been reduced from a minimum of Rs 60 to a maximum of Rs 750.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the Biratnagar-Nepalgunj route, per ticket price has been slashed by Rs 750. Similarly, the Kathmandu-Dhangadhi route has seen a decrease of Rs 615 in fares. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the fares for Kathmandu-Bhadrapur are now down by Rs 420, Kathmandu-Biratnagar by Rs 335, Kathmandu-Janakpur by Rs 180.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, airfare for Kathmandu-Bharatpur is down by Rs 150, Kathmandu-Pokhara by Rs 225, and Kathmandu-Bhairahawa by Rs 285. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Air ticket for Kathmandu-Nepalgunj route has decreased by Rs 455, and Kathmandu-Simara by Rs 125.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-04', 'modified' => '2023-07-04', 'keywords' => '', 'description' => '', 'sortorder' => '18092', 'image' => '20230704051530_collage (68).jpg', 'article_date' => '2023-07-04 17:14:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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' => '18378', 'article_category_id' => '1', 'title' => 'Business Entities to Cooperate for Economic Stability ', 'sub_title' => '', 'summary' => 'July 6: Two private business entities have decided to join hands for economic stability. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 6: Two private business entities have decided to join hands for economic stability. Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) are determined to work together for economic stability and development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized in the federal capital on Wednesday, NCC Chairperson Rajendra Malla underscored the need of effective coordination for budget and monetary policies. </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"">"We need to cooperate with each other to get private sector' demands fulfilled and the country's economic activities elevated," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Malla rued over downcast morale of the private sector for long reasoning that investment atmosphere was not favourable due to high interest rate. Fiscal stability should be ensured via monetary policy, he said, urging all business entities to exert collective pressure on the government bodies to this end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CNI Chair Rajesh Kumar Agrawal said that cooperation among private sector stakeholders is essential for effective implementation of the monetary policy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18107', 'image' => '20230706110505_NCCC.jpg', 'article_date' => '2023-07-06 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18376', 'article_category_id' => '1', 'title' => 'Neco Insurance Provides Rs 1.1 Million to Hospital', 'sub_title' => '', 'summary' => 'Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Neco Insurance, which has been serving in the non- life insurance market of the country for the past 27 years, has extended its financial assistance as part of corporate social responsibility, according to the Neco Insurance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The building of the hospital was constructed with the support of the Indian Embassy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“The company provided the assistance to the hospital as it has been facing shortage of medical equipment, medicines, and other supplies,” the company’s press statement reads. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company believes that the financial aid will support for parturition and child care services in the Madhes. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an event organized at the hospital, Mr. Ashok Kumar Khadka, the Chief Executive Officer of the company, handed over the cheque to the hospital.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18106', 'image' => '20230706061419_collage (1).jpg', 'article_date' => '2023-07-06 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18375', 'article_category_id' => '1', 'title' => 'Dry landslide Blocks Prithvi Highway', 'sub_title' => '', 'summary' => 'A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mohan Bahadur Khand, Deputy Superintendent of Police at the District Police Office in Tanahu, has confirmed that a collaborative effort is underway to remove the debris caused by the landslide. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The joint operation involves the Chinese contractor company, local authorities, and community members, all working together to restore traffic flow on the affected road.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate the inconvenience faced by travelers, the police have implemented a temporary diversion plan for small and mid-size vehicles traveling towards Pokhara via Tanahu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These vehicles are being rerouted through Polyang, taking the path from Damauli Bhirletarchowk via Kolesti. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18105', 'image' => '20230706055652_collage.jpg', 'article_date' => '2023-07-06 05:55:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18374', 'article_category_id' => '1', 'title' => '22 Films Participating in 11th NAFFF', 'sub_title' => '', 'summary' => ' The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Festival, organized by the College of Journalism and Mass Communications (CJMC) and supported by the Film Development Board and Bilakshan Creation, will serve as a dynamic platform for fostering cultural exchanges between Nepal and Africa, according to Festival and CJMC Director Manju Mishra.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We try to connect the two different continents by the means of films," she said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ten African movies and 12 Nepali films and documentaries will be screened in the event. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to director Dabbu Chhetri, a day-long acting workshop themed 'National and International Market for Short Nepali Movies' has been scheduled during the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event will be held at local Rastriya Nachghar in Jamal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18104', 'image' => '20230705062355_collage (71).jpg', 'article_date' => '2023-07-05 18:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18373', 'article_category_id' => '1', 'title' => 'Around 750,000 Nepalis Acquire Labour Permits in Eleven and Half Months', 'sub_title' => '', 'summary' => 'The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 5: The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Department of Foreign Employment has disclosed that approximately 750,000 Nepali citizens secured labour permits as of July 1, marking the culmination of the current fiscal year 2022/23, which concludes on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This figure represents a notable increase compared to the roughly 650,000 permits granted during the previous year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Gurudatta Subedi, the Director and Information Officer of the Department, shared that out of the 750,000 labour permits issued, 740,000 were acquired by individuals seeking overseas employment opportunities. The majority of these hopeful job seekers aspire to work in Gulf countries and Malaysia.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Additionally, other destinations include Croatia, Cyprus, France, Poland, and Romania.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Highlighting the scale of this trend, Subedi mentioned that Nepal is witnessing a daily exodus of over 60,000 youths seeking job prospects abroad.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In the Nepali month of Falgun alone, 61,845 Nepali individuals embarked on foreign employment ventures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Furthermore, the Department of Labour and Occupational Safety's Technical Director and Spokesperson, Maninath Gope, revealed that within the last two months, 1,396 foreign citizens acquired labour permits to work in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, 458 foreign nationals had their labour permits renewed during the same period. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18103', 'image' => '20230705045056_collage (70).jpg', 'article_date' => '2023-07-05 16:49:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18372', 'article_category_id' => '1', 'title' => 'NRB to Issue Development Bonds worth Rs 10 Billion on Thursday ', 'sub_title' => '', 'summary' => 'July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. The central bank is planning to issue the 'Development Bond 2086' on July 6 with a maturity period of six years, the central bank said in a notice published on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that the government uses development bonds as a tool to raise public debt. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks and finance companies, non-bank and financial institutions, insurance companies and organised institutions as well as common people can purchase the development bonds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The coupon rate of the development bonds will be determined in an auction through online bidding, according to the NRB. Interested parties can bid for the development bonds through NRB’s Online Bidding System Software at https:// obss.nrb.org.np/pd from 3 pm onwards on July 6. The notice states that the clearance of the interest will take place on a half-yearly basis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The bonds can be kept as collateral for taking loans. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18102', 'image' => '20230705033919_1688464286.revenue 1.jpg', 'article_date' => '2023-07-05 15:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18370', 'article_category_id' => '1', 'title' => 'Finance Ministry Faces Uphill Battle to Collect Revenue of Rs 500 Billion in Current FY', 'sub_title' => '', 'summary' => 'July 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.', '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 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.</span></span></span></span></p> <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"">According to the Ministry of Finance, this is about 64 percent of the revenue collection target. In order to collect the revenue as per the target of the current year, it is necessary to collect about Rs 500 billion in the current fiscal year which ends on July 16.</span></span></span></span></p> <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 finance ministry admitted that the revenue collection has slumped due to the decrease in the revenue collection from the customs following a decline in imports. Officials of the ministry also say that the tight monetary policy and weak investment in the private sector have caused problems in achieving the expected success in infrastructure development during this period. </span></span></span></span></p> <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"">According to the ministry, the trade deficit on the other hand has decreased due to the decline in imports, improvement in inflow of remittances and increase in arrival of tourists during the review period.</span></span></span></span></p> <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"">While the revenue collection target from customs was set at Rs 609.54 billion, only Rs 384.18 billion has been collected as of mid-June. This is only 61.29 percent of the target.</span></span></span></span></p> <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"">While the revenue collection target of Rs 524.34 billion has been set for the Inland Revenue Department, it has only collected Rs 410.82 billion so far. This is 70.15 percent of the target.</span></span></span></span></p> <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"">According to the ministry, domestic production and trade have decreased and domestic revenue has not increased as expected.</span></span></span></span></p> <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"">In terms of non-tax collection, the government has collected Rs 77.75 billion which is 11.88 percent more than the previous year.</span></span></span></span></p> <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"">During this period, the expenditure of the federal government has been Rs 1254 billion.</span></span></span></span></p> <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"">According to the ministry, the government has spent Rs 929 billion have been spent on current expenses, Rs 168 billion on capital expenditure, and Rs 155 billion on financial management. </span></span></span></span></p> <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"">In the current fiscal year, the government intends to raise the budget through revenue collection of Rs 1240 billion, foreign loan of Rs 242 billion and internal debt of Rs 256 billion.</span></span></span></span></p> <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 total budget announced for the current fiscal year was Rs 1793 billion, including the current expenditure of Rs 1183 billion, capital expenses of Rs 380 billion and financial management of Rs 230 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18100', 'image' => '20230705020743_finminnnn.jpg', 'article_date' => '2023-07-05 14:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18369', 'article_category_id' => '1', 'title' => 'Applications for Reverse Repo Exceed Demand', 'sub_title' => '', 'summary' => 'July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. NRB issued bids for reverse repo on Tuesday to mop excess liquidity from the market. NRB received application worth Rs 28.80 billion for reverse repo worth Rs 20 billion.</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 Tuesday's reverse repo, 11 banks and financial institutions submitted 61 bids in which the maximum interest rate was 5.37 percent, the minimum interest rate was 4.49 percent interest rate, and the average interest rate has been maintained at 5.05 percent.</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"">This is the third reverse repo issued in the current fiscal year. NRB had issed reverse repo worth Rs 5 billion in the month of Magh (mid-January to mid-February) of the current fiscal year, and Rs 23.10 billion on June 22 and June 25.</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 monetary policy, there is a provision to issue repo/reverse repo if the average interest rate of interbank transactions is more than 2 percentage points lower than the policy rate. Currently, the policy rate is set at 7 percent.</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"">With high liquidity in the financial system, the interest rate of interbank transactions fell to 3.42 percent on Sunday. Until Sunday, banks and financial institutions have collected Rs 561.3 billion deposits and have invested Rs 4862 billion loans. </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"">The average credit-to-deposit ratio (CD ratio) of banks has also fallen to 83.47 percent due to lack of credit flow compared to the increase in deposit collection.</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"">Banks have the ability to provide loans of more than Rs 350 billion according to the provision of the central bank under which they can extend loans by maintaining a CD ratio of up to 90 percent. Lately, despite the ease in liquidity in banks, they have not been able to extend credit, so they are focusing on short-term investments, including government bonds. As a result, short-term interest rates, including that of treasury bills and interbank transactions are decreasing. The interest rate of government bonds and treasury bills has fallen below 5 percent.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18099', 'image' => '20230705014144_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-05 13:40:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18368', 'article_category_id' => '1', 'title' => 'CNI Delegation Seeks Government's Role in Improving Economic Activities ', 'sub_title' => '', 'summary' => 'July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the separate meetings, the confederation team led by newly-elected President Rajesh Kumar Agrawal exchanged views on the nation's economy, labour and transport issues and so on with the ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The confederation demanded the government to help promote economic activities and the private sector. They said that the private sector has been affected the economic slowdown and the government's efforts are necessary to revive it. The government was also urged to increase minimum remunerations of the employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the ministers congratulated the newly elected executive committee of the confederation, wishing them a successful tenure. They assured of the government’s support to the private sector, the confederation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18098', 'image' => '20230705010615_cni.jpg', 'article_date' => '2023-07-05 13:05:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18367', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorm Predicted for Today ', 'sub_title' => '', 'summary' => 'July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rainfall with thunderstorm and lightning is predicted in some parts of the country including Madhes, Lumbini and Sudurpaschim provinces. There is also a chance of storm in a few plain areas of Lumbini and Sudurapschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, light to moderate rainfall is likely to take place in some parts of the country this afternoon. </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"">Now light to moderate rainfall is taking place in some places of Koshi, Madhes and Lumbini provinces due to minor to complete changes in weather across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is likelihood of light to moderate rain in some areas in the night due to partial to general changes across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division shared the possibility of heavy rain with thunderstorm and lightning in some places of Lumbini and Sudurpaschim provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18097', 'image' => '20230705122904_rain.jpeg', 'article_date' => '2023-07-05 12:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18366', 'article_category_id' => '1', 'title' => 'Finance Bill and Bill to Raise National Debt Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National Assembly secretary Dr Surendra Aryal tabled the two bills along with the message received from the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deliberations on the Appropriation Bill continued in the National Assembly meeting on Tuesday. In this connection, the upper house discussed the budget allotted to the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Physical Infrastructure and Transport, the Ministry of Federal Affairs and General Administration and the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proposals for reduction in the budget apportioned to these ministries in the Appropriation Bill were also been presented in the National Assembly meeting. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18096', 'image' => '20230705115343_RS-KTM-Meetingb.jpg', 'article_date' => '2023-07-05 11:53:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18365', 'article_category_id' => '1', 'title' => 'Rock Singer Robin Tamang No More', 'sub_title' => '', 'summary' => 'July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday. He was 60. Tamang breathed his last in his own residence at Budhanilakantha, informed his sister Bhagawati Tamang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police Inspector at the Budhanilaknatha Police Circle, Deependra Chand said the police received a phone call on Tuesday evening after singer Tamang did not pick up phone calls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chand informed the state-owned RSS that singer Tamang was found dead on his bed side when a police team reached his room. Reason behind his death will be identified after post-mortem, police said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tamang, a vocalist of the Robin and the Revolution Band, was also active in cinema acting. Lately he was featured in a film 'Chhadke-2'. Tamang had substantial contributions to enrichment of the Nepal rock style songs and music. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali music practitioners have expressed grief over the passing away of Tamang through social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the popular songs of Tamang are 'Nepal', 'Ekata', 'Chiso Chiso Hawama', 'Maila Bhai', 'Jati Maya Laye Pani', 'Dam Maro Dam' and 'Bhul Ma Bhulyo'. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18095', 'image' => '20230705111845_robin.jpg', 'article_date' => '2023-07-05 11:17:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18364', 'article_category_id' => '1', 'title' => 'Six International Companies Including Google, and Facebook Registered in Nepal's Taxation System ', 'sub_title' => '', 'summary' => 'Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government introduced the Digital Service Tax provision under the Financial Act to ensure that foreign companies providing electronic services are subject to taxation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sadhuram Pudasaini, Tax Officer at the Large Taxpayers' Office, confirmed the registration of these companies in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, three companies with offices in Singapore (Google Asia Pacific Private Limited, Microsoft Regional Sales - Private Limited, and LinkedIn Singapore Private Limited) and three others (NCS Pearson Inc, EBSCO, and Meta Platforms Ireland Ltd) have been registered.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This registration includes popular social networking sites such as Instagram, WhatsApp, and LinkedIn. However, due to flaws in the provision, many companies in the IT sector remain outside the taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there are provisions for taking action against foreign companies that fail to pay taxes, there is no clear mention of the actions to be taken against unregistered companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, numerous companies in the information technology sector are currently operating outside the taxation system in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A government study has revealed a significant revenue loss resulting from the absence of taxation for companies engaged in digital transactions and operating social networking sites in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to a report by the Revenue Consultation Committee, citing data from www.datareportal.com, Nepal had over 13.3 million Facebook users in 2022. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Based on statistics, Facebook alone earns over Rs 60 billion annually through advertisements viewed by Nepali users.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(Hemanta Joshi, RSS) </span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18094', 'image' => '20230705055850_collage (15).jpg', 'article_date' => '2023-07-05 05:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18363', 'article_category_id' => '1', 'title' => 'Green Signals for Vibrant Economy Observed: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaking at a meeting of the Finance Committee of the House of Representatives, the Minister stated that the economy is poised for an upward trend, putting pressure on the government to accelerate progress towards its goals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Minister emphasized the need for collective efforts and commitments to drive economic expansion. The government is committed to increasing revenue collection and capital expenditure while discouraging general expenditures, he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the overall outlook is positive, the Minister acknowledged that challenges are inevitable in any economy, requiring effective solutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the meeting, Revenue Secretary Dr. Ram Prasad Ghimire highlighted the challenges posed by increasing responsibilities for pension, social security, and remuneration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government must manage additional resources of approximately Rs 25 billion by July 10 to meet its mandatory obligations in the current fiscal year. In light of the current resource collection situation, reducing expenditures has become necessary, said Secretary Ghimire. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee members expressed concerns about the shortfall in revenue collection, which hampers efforts to address economic slowdown and promote investment in the industrial sector. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They also raised questions regarding the potential challenges and alternatives in managing fluctuations in remittance inflows, emphasizing the significant role of remittances in the national economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, they inquired about the lack of allocated budget for the management of chemical fertilizer, the agricultural sector, and strategic roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The members queried whether there are other sources for managing the foreign exchange reserve apart from remittances, stating their opinion that achieving budget goals may be challenging due to scattered budgets across small projects. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18093', 'image' => '20230705054200_collage (14).jpg', 'article_date' => '2023-07-05 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18362', 'article_category_id' => '1', 'title' => 'CAAN Slashes Airfares for Domestic Flights', 'sub_title' => '', 'summary' => 'With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased. The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 4: With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the authority, the airfare for domestic flights has been reduced from a minimum of Rs 60 to a maximum of Rs 750.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the Biratnagar-Nepalgunj route, per ticket price has been slashed by Rs 750. Similarly, the Kathmandu-Dhangadhi route has seen a decrease of Rs 615 in fares. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the fares for Kathmandu-Bhadrapur are now down by Rs 420, Kathmandu-Biratnagar by Rs 335, Kathmandu-Janakpur by Rs 180.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, airfare for Kathmandu-Bharatpur is down by Rs 150, Kathmandu-Pokhara by Rs 225, and Kathmandu-Bhairahawa by Rs 285. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Air ticket for Kathmandu-Nepalgunj route has decreased by Rs 455, and Kathmandu-Simara by Rs 125.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-04', 'modified' => '2023-07-04', 'keywords' => '', 'description' => '', 'sortorder' => '18092', 'image' => '20230704051530_collage (68).jpg', 'article_date' => '2023-07-04 17:14:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 6: Two private business entities have decided to join hands for economic stability. Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) are determined to work together for economic stability and development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized in the federal capital on Wednesday, NCC Chairperson Rajendra Malla underscored the need of effective coordination for budget and monetary policies. </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"">"We need to cooperate with each other to get private sector' demands fulfilled and the country's economic activities elevated," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Malla rued over downcast morale of the private sector for long reasoning that investment atmosphere was not favourable due to high interest rate. Fiscal stability should be ensured via monetary policy, he said, urging all business entities to exert collective pressure on the government bodies to this end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CNI Chair Rajesh Kumar Agrawal said that cooperation among private sector stakeholders is essential for effective implementation of the monetary policy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18107', 'image' => '20230706110505_NCCC.jpg', 'article_date' => '2023-07-06 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18376', 'article_category_id' => '1', 'title' => 'Neco Insurance Provides Rs 1.1 Million to Hospital', 'sub_title' => '', 'summary' => 'Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: Neco Insurance Limited has provided financial assistance of Rs 1.1 million rupees to Mahendra Genai Memorial Maternity and and Child Welfare Hospital at Chhaparadi, Dhangadhimai Municipality Siraha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Neco Insurance, which has been serving in the non- life insurance market of the country for the past 27 years, has extended its financial assistance as part of corporate social responsibility, according to the Neco Insurance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The building of the hospital was constructed with the support of the Indian Embassy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“The company provided the assistance to the hospital as it has been facing shortage of medical equipment, medicines, and other supplies,” the company’s press statement reads. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company believes that the financial aid will support for parturition and child care services in the Madhes. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an event organized at the hospital, Mr. Ashok Kumar Khadka, the Chief Executive Officer of the company, handed over the cheque to the hospital.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18106', 'image' => '20230706061419_collage (1).jpg', 'article_date' => '2023-07-06 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18375', 'article_category_id' => '1', 'title' => 'Dry landslide Blocks Prithvi Highway', 'sub_title' => '', 'summary' => 'A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 6: A dry landslide has brought the Prithvi Highway to a complete halt between Mauri Bazaar and Turture Bazaar, Tanahun, on Wednesday evening. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The obstruction, originating 100 meters above the road, has rendered vehicular movement along this crucial highway impossible.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mohan Bahadur Khand, Deputy Superintendent of Police at the District Police Office in Tanahu, has confirmed that a collaborative effort is underway to remove the debris caused by the landslide. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The joint operation involves the Chinese contractor company, local authorities, and community members, all working together to restore traffic flow on the affected road.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate the inconvenience faced by travelers, the police have implemented a temporary diversion plan for small and mid-size vehicles traveling towards Pokhara via Tanahu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These vehicles are being rerouted through Polyang, taking the path from Damauli Bhirletarchowk via Kolesti. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-06', 'modified' => '2023-07-06', 'keywords' => '', 'description' => '', 'sortorder' => '18105', 'image' => '20230706055652_collage.jpg', 'article_date' => '2023-07-06 05:55:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18374', 'article_category_id' => '1', 'title' => '22 Films Participating in 11th NAFFF', 'sub_title' => '', 'summary' => ' The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: The 11th 'Nepal Africa Film Festival (NAFF)-2023' is set to commence on July 8. The three-day event will witness the participation of 12 nations, showcasing a total of 22 films.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Festival, organized by the College of Journalism and Mass Communications (CJMC) and supported by the Film Development Board and Bilakshan Creation, will serve as a dynamic platform for fostering cultural exchanges between Nepal and Africa, according to Festival and CJMC Director Manju Mishra.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We try to connect the two different continents by the means of films," she said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ten African movies and 12 Nepali films and documentaries will be screened in the event. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to director Dabbu Chhetri, a day-long acting workshop themed 'National and International Market for Short Nepali Movies' has been scheduled during the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event will be held at local Rastriya Nachghar in Jamal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18104', 'image' => '20230705062355_collage (71).jpg', 'article_date' => '2023-07-05 18:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18373', 'article_category_id' => '1', 'title' => 'Around 750,000 Nepalis Acquire Labour Permits in Eleven and Half Months', 'sub_title' => '', 'summary' => 'The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">July 5: The number of Nepali individuals obtaining labour permits for foreign employment has witnessed a significant rise. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Department of Foreign Employment has disclosed that approximately 750,000 Nepali citizens secured labour permits as of July 1, marking the culmination of the current fiscal year 2022/23, which concludes on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This figure represents a notable increase compared to the roughly 650,000 permits granted during the previous year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Gurudatta Subedi, the Director and Information Officer of the Department, shared that out of the 750,000 labour permits issued, 740,000 were acquired by individuals seeking overseas employment opportunities. The majority of these hopeful job seekers aspire to work in Gulf countries and Malaysia.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> Additionally, other destinations include Croatia, Cyprus, France, Poland, and Romania.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Highlighting the scale of this trend, Subedi mentioned that Nepal is witnessing a daily exodus of over 60,000 youths seeking job prospects abroad.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In the Nepali month of Falgun alone, 61,845 Nepali individuals embarked on foreign employment ventures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Furthermore, the Department of Labour and Occupational Safety's Technical Director and Spokesperson, Maninath Gope, revealed that within the last two months, 1,396 foreign citizens acquired labour permits to work in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, 458 foreign nationals had their labour permits renewed during the same period. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18103', 'image' => '20230705045056_collage (70).jpg', 'article_date' => '2023-07-05 16:49:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18372', 'article_category_id' => '1', 'title' => 'NRB to Issue Development Bonds worth Rs 10 Billion on Thursday ', 'sub_title' => '', 'summary' => 'July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 5: The Nepal Rastra Bank (NRB) is all set to issue development bonds worth Rs 10 billion on Thursday. The central bank is planning to issue the 'Development Bond 2086' on July 6 with a maturity period of six years, the central bank said in a notice published on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that the government uses development bonds as a tool to raise public debt. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks and finance companies, non-bank and financial institutions, insurance companies and organised institutions as well as common people can purchase the development bonds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The coupon rate of the development bonds will be determined in an auction through online bidding, according to the NRB. Interested parties can bid for the development bonds through NRB’s Online Bidding System Software at https:// obss.nrb.org.np/pd from 3 pm onwards on July 6. The notice states that the clearance of the interest will take place on a half-yearly basis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The bonds can be kept as collateral for taking loans. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18102', 'image' => '20230705033919_1688464286.revenue 1.jpg', 'article_date' => '2023-07-05 15:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18370', 'article_category_id' => '1', 'title' => 'Finance Ministry Faces Uphill Battle to Collect Revenue of Rs 500 Billion in Current FY', 'sub_title' => '', 'summary' => 'July 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.', '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 5: The government had set a target of collecting revenue of Rs 1403.14 billion in the current fiscal year. However, the government has been able to collect only Rs 899 billion as of July 3.</span></span></span></span></p> <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"">According to the Ministry of Finance, this is about 64 percent of the revenue collection target. In order to collect the revenue as per the target of the current year, it is necessary to collect about Rs 500 billion in the current fiscal year which ends on July 16.</span></span></span></span></p> <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 finance ministry admitted that the revenue collection has slumped due to the decrease in the revenue collection from the customs following a decline in imports. Officials of the ministry also say that the tight monetary policy and weak investment in the private sector have caused problems in achieving the expected success in infrastructure development during this period. </span></span></span></span></p> <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"">According to the ministry, the trade deficit on the other hand has decreased due to the decline in imports, improvement in inflow of remittances and increase in arrival of tourists during the review period.</span></span></span></span></p> <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"">While the revenue collection target from customs was set at Rs 609.54 billion, only Rs 384.18 billion has been collected as of mid-June. This is only 61.29 percent of the target.</span></span></span></span></p> <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"">While the revenue collection target of Rs 524.34 billion has been set for the Inland Revenue Department, it has only collected Rs 410.82 billion so far. This is 70.15 percent of the target.</span></span></span></span></p> <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"">According to the ministry, domestic production and trade have decreased and domestic revenue has not increased as expected.</span></span></span></span></p> <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"">In terms of non-tax collection, the government has collected Rs 77.75 billion which is 11.88 percent more than the previous year.</span></span></span></span></p> <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"">During this period, the expenditure of the federal government has been Rs 1254 billion.</span></span></span></span></p> <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"">According to the ministry, the government has spent Rs 929 billion have been spent on current expenses, Rs 168 billion on capital expenditure, and Rs 155 billion on financial management. </span></span></span></span></p> <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"">In the current fiscal year, the government intends to raise the budget through revenue collection of Rs 1240 billion, foreign loan of Rs 242 billion and internal debt of Rs 256 billion.</span></span></span></span></p> <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 total budget announced for the current fiscal year was Rs 1793 billion, including the current expenditure of Rs 1183 billion, capital expenses of Rs 380 billion and financial management of Rs 230 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18100', 'image' => '20230705020743_finminnnn.jpg', 'article_date' => '2023-07-05 14:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18369', 'article_category_id' => '1', 'title' => 'Applications for Reverse Repo Exceed Demand', 'sub_title' => '', 'summary' => 'July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 5: The reverse repo issued by Nepal Rastra Bank (NRB) has received more applications than the demand put forth by the central bank. NRB issued bids for reverse repo on Tuesday to mop excess liquidity from the market. NRB received application worth Rs 28.80 billion for reverse repo worth Rs 20 billion.</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 Tuesday's reverse repo, 11 banks and financial institutions submitted 61 bids in which the maximum interest rate was 5.37 percent, the minimum interest rate was 4.49 percent interest rate, and the average interest rate has been maintained at 5.05 percent.</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"">This is the third reverse repo issued in the current fiscal year. NRB had issed reverse repo worth Rs 5 billion in the month of Magh (mid-January to mid-February) of the current fiscal year, and Rs 23.10 billion on June 22 and June 25.</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 monetary policy, there is a provision to issue repo/reverse repo if the average interest rate of interbank transactions is more than 2 percentage points lower than the policy rate. Currently, the policy rate is set at 7 percent.</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"">With high liquidity in the financial system, the interest rate of interbank transactions fell to 3.42 percent on Sunday. Until Sunday, banks and financial institutions have collected Rs 561.3 billion deposits and have invested Rs 4862 billion loans. </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"">The average credit-to-deposit ratio (CD ratio) of banks has also fallen to 83.47 percent due to lack of credit flow compared to the increase in deposit collection.</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"">Banks have the ability to provide loans of more than Rs 350 billion according to the provision of the central bank under which they can extend loans by maintaining a CD ratio of up to 90 percent. Lately, despite the ease in liquidity in banks, they have not been able to extend credit, so they are focusing on short-term investments, including government bonds. As a result, short-term interest rates, including that of treasury bills and interbank transactions are decreasing. The interest rate of government bonds and treasury bills has fallen below 5 percent.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18099', 'image' => '20230705014144_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-05 13:40:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18368', 'article_category_id' => '1', 'title' => 'CNI Delegation Seeks Government's Role in Improving Economic Activities ', 'sub_title' => '', 'summary' => 'July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: A delegation of the Confederation of Nepalese Industries (CNI) called on Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and the Minister for Federal Affairs and General Administration, Aman Lal Modi on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the separate meetings, the confederation team led by newly-elected President Rajesh Kumar Agrawal exchanged views on the nation's economy, labour and transport issues and so on with the ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The confederation demanded the government to help promote economic activities and the private sector. They said that the private sector has been affected the economic slowdown and the government's efforts are necessary to revive it. The government was also urged to increase minimum remunerations of the employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the ministers congratulated the newly elected executive committee of the confederation, wishing them a successful tenure. They assured of the government’s support to the private sector, the confederation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18098', 'image' => '20230705010615_cni.jpg', 'article_date' => '2023-07-05 13:05:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18367', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorm Predicted for Today ', 'sub_title' => '', 'summary' => 'July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The country will see partial to general changes in weather today due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rainfall with thunderstorm and lightning is predicted in some parts of the country including Madhes, Lumbini and Sudurpaschim provinces. There is also a chance of storm in a few plain areas of Lumbini and Sudurapschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, light to moderate rainfall is likely to take place in some parts of the country this afternoon. </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"">Now light to moderate rainfall is taking place in some places of Koshi, Madhes and Lumbini provinces due to minor to complete changes in weather across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is likelihood of light to moderate rain in some areas in the night due to partial to general changes across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division shared the possibility of heavy rain with thunderstorm and lightning in some places of Lumbini and Sudurpaschim provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18097', 'image' => '20230705122904_rain.jpeg', 'article_date' => '2023-07-05 12:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18366', 'article_category_id' => '1', 'title' => 'Finance Bill and Bill to Raise National Debt Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: The Finance Bill, 2080 BS and the Bill to Raise National Debt, 2080 BS have been tabled in a session of the National Assembly, the upper house of the Federal Parliament, on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National Assembly secretary Dr Surendra Aryal tabled the two bills along with the message received from the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deliberations on the Appropriation Bill continued in the National Assembly meeting on Tuesday. In this connection, the upper house discussed the budget allotted to the Ministry of Land Management, Cooperatives and Poverty Alleviation, the Ministry of Physical Infrastructure and Transport, the Ministry of Federal Affairs and General Administration and the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proposals for reduction in the budget apportioned to these ministries in the Appropriation Bill were also been presented in the National Assembly meeting. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18096', 'image' => '20230705115343_RS-KTM-Meetingb.jpg', 'article_date' => '2023-07-05 11:53:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18365', 'article_category_id' => '1', 'title' => 'Rock Singer Robin Tamang No More', 'sub_title' => '', 'summary' => 'July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 5: Popular rock singer of the Nepali music industry, Robin Tamang, passed away on Tuesday. He was 60. Tamang breathed his last in his own residence at Budhanilakantha, informed his sister Bhagawati Tamang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police Inspector at the Budhanilaknatha Police Circle, Deependra Chand said the police received a phone call on Tuesday evening after singer Tamang did not pick up phone calls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chand informed the state-owned RSS that singer Tamang was found dead on his bed side when a police team reached his room. Reason behind his death will be identified after post-mortem, police said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tamang, a vocalist of the Robin and the Revolution Band, was also active in cinema acting. Lately he was featured in a film 'Chhadke-2'. Tamang had substantial contributions to enrichment of the Nepal rock style songs and music. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali music practitioners have expressed grief over the passing away of Tamang through social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the popular songs of Tamang are 'Nepal', 'Ekata', 'Chiso Chiso Hawama', 'Maila Bhai', 'Jati Maya Laye Pani', 'Dam Maro Dam' and 'Bhul Ma Bhulyo'. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18095', 'image' => '20230705111845_robin.jpg', 'article_date' => '2023-07-05 11:17:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18364', 'article_category_id' => '1', 'title' => 'Six International Companies Including Google, and Facebook Registered in Nepal's Taxation System ', 'sub_title' => '', 'summary' => 'Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Six international companies working in the field of information technology and rendering digital services, including Google, Facebook, and Microsoft, have been registered in Nepal's taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government introduced the Digital Service Tax provision under the Financial Act to ensure that foreign companies providing electronic services are subject to taxation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sadhuram Pudasaini, Tax Officer at the Large Taxpayers' Office, confirmed the registration of these companies in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, three companies with offices in Singapore (Google Asia Pacific Private Limited, Microsoft Regional Sales - Private Limited, and LinkedIn Singapore Private Limited) and three others (NCS Pearson Inc, EBSCO, and Meta Platforms Ireland Ltd) have been registered.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This registration includes popular social networking sites such as Instagram, WhatsApp, and LinkedIn. However, due to flaws in the provision, many companies in the IT sector remain outside the taxation system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there are provisions for taking action against foreign companies that fail to pay taxes, there is no clear mention of the actions to be taken against unregistered companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, numerous companies in the information technology sector are currently operating outside the taxation system in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A government study has revealed a significant revenue loss resulting from the absence of taxation for companies engaged in digital transactions and operating social networking sites in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to a report by the Revenue Consultation Committee, citing data from www.datareportal.com, Nepal had over 13.3 million Facebook users in 2022. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Based on statistics, Facebook alone earns over Rs 60 billion annually through advertisements viewed by Nepali users.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(Hemanta Joshi, RSS) </span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18094', 'image' => '20230705055850_collage (15).jpg', 'article_date' => '2023-07-05 05:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18363', 'article_category_id' => '1', 'title' => 'Green Signals for Vibrant Economy Observed: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 5: Finance Minister Dr. Prakash Sharan Mahat said that positive indications are seen for country’s vibrant economy as the new fiscal year approaches.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaking at a meeting of the Finance Committee of the House of Representatives, the Minister stated that the economy is poised for an upward trend, putting pressure on the government to accelerate progress towards its goals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Minister emphasized the need for collective efforts and commitments to drive economic expansion. The government is committed to increasing revenue collection and capital expenditure while discouraging general expenditures, he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the overall outlook is positive, the Minister acknowledged that challenges are inevitable in any economy, requiring effective solutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the meeting, Revenue Secretary Dr. Ram Prasad Ghimire highlighted the challenges posed by increasing responsibilities for pension, social security, and remuneration. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The government must manage additional resources of approximately Rs 25 billion by July 10 to meet its mandatory obligations in the current fiscal year. In light of the current resource collection situation, reducing expenditures has become necessary, said Secretary Ghimire. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee members expressed concerns about the shortfall in revenue collection, which hampers efforts to address economic slowdown and promote investment in the industrial sector. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They also raised questions regarding the potential challenges and alternatives in managing fluctuations in remittance inflows, emphasizing the significant role of remittances in the national economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, they inquired about the lack of allocated budget for the management of chemical fertilizer, the agricultural sector, and strategic roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The members queried whether there are other sources for managing the foreign exchange reserve apart from remittances, stating their opinion that achieving budget goals may be challenging due to scattered budgets across small projects. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-05', 'modified' => '2023-07-05', 'keywords' => '', 'description' => '', 'sortorder' => '18093', 'image' => '20230705054200_collage (14).jpg', 'article_date' => '2023-07-05 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18362', 'article_category_id' => '1', 'title' => 'CAAN Slashes Airfares for Domestic Flights', 'sub_title' => '', 'summary' => 'With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased. The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 4: With the reduction in aviation fuel prices by the Nepal Oil Corporation, airfares have also decreased.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Civil Aviation Authority of Nepal(CAAN) has implemented the new fare rates starting from Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the authority, the airfare for domestic flights has been reduced from a minimum of Rs 60 to a maximum of Rs 750.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the Biratnagar-Nepalgunj route, per ticket price has been slashed by Rs 750. Similarly, the Kathmandu-Dhangadhi route has seen a decrease of Rs 615 in fares. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the fares for Kathmandu-Bhadrapur are now down by Rs 420, Kathmandu-Biratnagar by Rs 335, Kathmandu-Janakpur by Rs 180.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, airfare for Kathmandu-Bharatpur is down by Rs 150, Kathmandu-Pokhara by Rs 225, and Kathmandu-Bhairahawa by Rs 285. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Air ticket for Kathmandu-Nepalgunj route has decreased by Rs 455, and Kathmandu-Simara by Rs 125.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-04', 'modified' => '2023-07-04', 'keywords' => '', 'description' => '', 'sortorder' => '18092', 'image' => '20230704051530_collage (68).jpg', 'article_date' => '2023-07-04 17:14:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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
