May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry.…
May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry.…
May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade…
May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to…
May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May).…
May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee…
May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath…
Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and…
Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District…
May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its…
With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of…
May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale…
May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers.…
May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local…
May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating…
May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry. NADA said its attention has been drawn to the decision taken by the government for the upcoming fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA recalled that the government arranged various exemptions and facilities for the establishment of the vehicle assembling industry considering the demands placed by NADA. According to NADA, some of the vehicle manufacturing and assembling industries in Nepal are in operation and some are in the process of being established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per NADA, when a vehicle assembling industry is established in Nepal itself, the general public will get vehicles at a cheaper price, more jobs will be created and foreign technology will also be transferred to Nepal, which will greatly help in the development of Nepali technicians.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA expressed its concerns because many other industries are dependent on vehicle assembling plant. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“If the government comes up with a policy to curtail facilities while underestimating such facts, not only will the investment of industrialists investing in such assembling industries sink, but the industrialization of Nepal will definitely lag behind.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA has requested the government to adopt a policy to further encourage the vehicle assembling industry while formulating the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17708', 'image' => '20230525032755_20210112010154_Clipboard0111.jpg', 'article_date' => '2023-05-25 15:26:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17974', 'article_category_id' => '1', 'title' => 'All Should Play Role to Reduce Trade Deficit: Minister Rijal ', 'sub_title' => '', 'summary' => 'May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said so in a meeting held to discuss the action plan and implementation of trade deficit reduction under the Nepal Trade Integrated Strategy organised at the ministry on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that policies are formulated in the country, but implemented less while the implemented policies too have not got the desired results, he pointed out that support of all sectors was necessary for the reduction of trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said, "Success will be achieved in export trade promotion, trade deficit reduction and current situation of earning foreign exchange by running targeted activities with required resources as per the Nepal Trade Integrated Strategy, 2080." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Action Plan related to Trade Deficit Reduction was passed by cabinet on April 11 to address the increasing trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a cabinet meeting held on May 9 had passed Nepal Trade Integrated Strategy, 2080. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17705', 'image' => '20230525122537_trade_imbalance.jpg', 'article_date' => '2023-05-25 12:24:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17973', 'article_category_id' => '1', 'title' => 'Cash Circulation Rising in the Market ', 'sub_title' => '', 'summary' => 'May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase. According to the data published by Nepal Rastra Bank (NRB), it has been found that the cash in circulation in the market has increased in the month of Baishak (mid-April to mid-May).</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"">According to NRB, by the end of Baishak (mid-May) of the current fiscal year (FY), the market had a cash circulation of Rs 623 billion. At the end of the last fiscal year (mid-July 2022), Rs 612.2 billion were in circulation, but in mid-May 2023, it increased by Rs 11.87 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"">The cash in circulation had been continuously decreasing since the start of the current fiscal year. The circulation of cash in the market started to decrease with the decline in economic activities due to the outbreak of Covid-19 and the Russia-Ukraine war. </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 first month of the current FY (mid-July to mid-August), Rs 599 billion in cash was in circulation. After the government and NRB tightened the import and issued a tight monetary policy, the economic indicators improved. In Baisakh, the liquidity of banks and financial institutions in Nepal also increased.</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 Ashar 2079 (last July), the deposits of banks were Rs 188 billion, and by the end of Baishak (mid-May), it climbed up to Rs 212 billion. Since the current year, the NRB has increased the mandatory cash reserve ratio (CRR), causing the deposits to increase.</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"">According to the NRB’s latest Current Macroeconomic and Financial Situation Report, the country's balance sheet, foreign exchange reserves, reserve adequacy and other indicators have reached a comfortable level in Baishak.</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"">Along with this, the bank's base rate and interest rate, which had reached a high point, have started to decrease, while there has been an improvement in deposit collection and loan disbursement, NRB said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Along with the decrease in imports, the increase in remittances has also increased the foreign exchange reserves. In Ashar, NRB had a total of Rs 114.4 billion in foreign currency reserves, which increased to Rs 149 billion at the end of Baishak.</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"">Due to the strict provisions of the monetary policy, the interest rate which has been continuously rising has started to decrease. Similarly, bank deposits and credit flow of banks have also started to increase.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB has reduced the bank rate by 1.5 percentage points to 8.5 per cent through the review of monetary policy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17704', 'image' => '20230525122359_banknotes.jpg', 'article_date' => '2023-05-25 12:23:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17972', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Securities Market Declines by Almost Rs 40 Million in Baisakh', 'sub_title' => '', 'summary' => 'May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). The tax was collected from individual and institutional investors who sold securities bond at a profit.</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"">According to CDS and Clearing Limited (CDSC), there has been a decrease in tax collection in the same period this year due to the decline in turnover and share price in the secondary market of securities. According to CDSC spokesperson Suresh Neupane, capital gains tax collected from the securities market is less by Rs 37.3 million in the review period compared to the previous month (mid-March to mid-April). Previously, more than Rs 172.8 million was collected as capital gains tax.</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"">From mid-April to mid-May, CGT of more than Rs 61.2 million was collected from short-term investors and Rs 59.99 million from long-term investors. According to Neupane, more than Rs 14.3 million of such tax was collected from institutional investors.</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"">From mid-March to mid-April, more than Rs 75.6 million of CGT was collected from short-term investors and Rs 84.7 million from long-term investors. Neupane said that more than Rs 12 million capital gains tax was collected from institutional investors.</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"">Investors of the securities market have paid more than Rs 10 billion in taxes to the government in the past one year. According to CDSC, the government collected more than Rs 10.35 billion capital gains tax from securities traders in the fiscal year 2021/22. </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"">Investors say that government income can be increased by further developing and expanding the securities market amid current economic crisis. Tara Prasad Fullel, acting president of the Stock Brokers Association of Nepal (SBAN), says that tax collection from this sector should be prioritized by operating two stock exchanges. He said that as the income of the government declined along with the share price and turnover, attention should be paid to the expansion of this sector.</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"">Fullel said that the capital gains tax for individual investors should be at most 5 percent. He said that 5 percent of short-term and 3 percent of long-term capital gains tax should be exempted for individuals.</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"">Securities traders have to pay capital gains tax up to 10 percent on profits. Institutional investors are charged 10 percent and individuals are charged a maximum of 7.5 percent capital gains tax. There are two types of capital gains tax on individuals. Those who hold shares for more than 1 year and sell them are considered long-term investors and those who sell them in less than 1 year are considered short-term investors. Short-term investors have to pay 7.5 percent capital gains tax and long-term investors have to pay 5 percent capital gains tax. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17703', 'image' => '20230525113508_taxxxxx.jpg', 'article_date' => '2023-05-25 11:34:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17971', 'article_category_id' => '1', 'title' => 'No Involvement of IGP in Fake Bhutanese Refugees Scam: Nepal Police ', 'sub_title' => '', 'summary' => 'May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Wednesday, Spokesperson for the Nepal Police, Kuber Kadayat, made it clear that IGP Basanta Kunwar was not involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement reads, "The news disseminated on the sensitive issue like crime investigation without basis, fact and evidence will create confusion among the people and the Nepal Police Headquarters fully disagrees with the news that defames the credibility, image and chain of command of the police organization." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is highly condemnable to drag the IGP in controversy based on conversation of two people accusing the police chief of taking financial benefit from the accused of fake Bhutanese refugees scam, which the police says is an attempt to establish exaggerated facts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal Police is aware and committed to stand by the constitution, laws and the organisation's values and to ensure that no innocent is implicated and no guilty is left scot-free," added the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the IGP had played a role to protect the accused of the fake Bhutanese refugees scam, lawmakers in Wednesday’s meeting of the House of Representatives had drawn the attention of the home minister to carryout investigation by suspending him. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17702', 'image' => '20230525103352_police logo - Copy.jpg', 'article_date' => '2023-05-25 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17970', 'article_category_id' => '1', 'title' => 'Public Holiday in Kathmandu Valley Today ', 'sub_title' => '', 'summary' => 'May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. </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"">Today, the bhoto (a customary vest-like attire) of Rato Machhindranath will be exhibited to the public.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs announced the public holiday in three districts of the valley – Kathmandu, Lalitpur and Bhaktapur on the occasion. The ministry informed about this through a public notice on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The legendary vest is exhibited at Jawalakhel of Lalitpur each year during the festival</span>. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17701', 'image' => '20230525095621_bhoto.jpg', 'article_date' => '2023-05-25 09:55:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17969', 'article_category_id' => '1', 'title' => 'Nepal Airlines Corporation to Commence Flights to Sydney from June 21', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays. Following the receipt of flight approval from Sydney Airport, NAC has submitted the necessary documentation to the Australian Civil Aviation Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Ganesh Kumar Ghimire, the Assistant Spokesperson of NAC, stated that initially, the flights to Sydney will include a 'technical landing' in Singapore. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He mentioned that the necessary procedures to commence flights from June 21 are being actively pursued. NAC has already initiated the selection process for an aviation fuel provider in Singapore and Sydney, and they have chosen an MRO (maintenance, repair, and operation) company for both Singapore and Sydney airports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">NAC is fully prepared to operate direct flights to Sydney, Australia, utilizing the wide-body Airbus 'A' 330 aircraft, as per the corporation's plans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> Additionally, NAC will begin regular flights to Gautam Buddha International Airport from Malaysia starting on June 12. The promotional airfare from Malaysia to Gautam Buddha International Airport is incredibly affordable at just Rs 11,461.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"We are delighted to offer tickets for the Malaysia-Bhairahawa-Kathmandu route at a highly competitive price," added Ghimire. Furthermore, the airfare for the Malaysia-Bhairahawa-Kathmandu route has been fixed at Rs 12,346. -----RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17700', 'image' => '20230525064255_Nepal-Airlines-1-3.jpg', 'article_date' => '2023-05-25 06:41:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17968', 'article_category_id' => '1', 'title' => '30 Individuals Sued in Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Out of the accused, 16 have been apprehended, while 14 others remain at large. District Attorney Mahesh Khatri said that arrest warrants would be issued for the absconding individuals, and their assets and properties would be frozen pending investigation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused individuals are Keshav Prasad Dulal, Sanu Bhandari, Sagar Rai, Sandesh Sharma, Tankakumar Gurung, Indrajit Rai, Top Bahadur Rayamajhi, Sandeep Rayamajhi, Tekanarayan Pandey, Narendra KC, Bikram also known as Govindakumar Chaudhary, Ramsharan KC, and Balkrishna Khan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Other accused include Angtawa Sherpa, Shamsher Miya, Tekanath Rijal, Keshav Tuladhar, Laxmi Maharjan, Bhakta Maharjan, Ashok Pokharel, Dhiren Rai, Deepa Humagai, Niraj Rai, Rajesh Aryal, Mohanraj Rai, Ashish Budathoki, Binita Savden Limbu, Niranjankumar Kharel, Sunil Budathoki, and Pratik Thapa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the registration of the charge sheet, the court proceedings have begun, with statements being recorded and pleas being heard to determine whether the arrested individuals should be remanded in custody for further investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused face charges for their alleged involvement in fraud, document forgery, organised crime and treason. Those holding public positions will also face charges under anti-corruption and money laundering laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">District Attorney Khatri disclosed that the sued individuals are being pursued for the recovery of over Rs 270 million. The charges of fraud and forgery carry a maximum sentence of seven years, while involvement in crimes against the state may result in up to five years of imprisonment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, appropriate legal provisions will be applied to those implicated in organized crime.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17699', 'image' => '20230525061401_collage (9).jpg', 'article_date' => '2023-05-25 06:12:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17967', 'article_category_id' => '1', 'title' => 'Panchakunda, a Glacial Lake in Narchyang, Beckons Nature Lovers', 'sub_title' => '', 'summary' => 'May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The application for the broker license was open from September 18 to October 17 last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Altogether 46 companies had submitted applications for the new broker licenses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</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"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - 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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' => '17977', 'article_category_id' => '1', 'title' => 'Facilities of Assembling Industries Should not be Curtailed: NADA', 'sub_title' => '', 'summary' => 'May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry. NADA said its attention has been drawn to the decision taken by the government for the upcoming fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA recalled that the government arranged various exemptions and facilities for the establishment of the vehicle assembling industry considering the demands placed by NADA. According to NADA, some of the vehicle manufacturing and assembling industries in Nepal are in operation and some are in the process of being established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per NADA, when a vehicle assembling industry is established in Nepal itself, the general public will get vehicles at a cheaper price, more jobs will be created and foreign technology will also be transferred to Nepal, which will greatly help in the development of Nepali technicians.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA expressed its concerns because many other industries are dependent on vehicle assembling plant. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“If the government comes up with a policy to curtail facilities while underestimating such facts, not only will the investment of industrialists investing in such assembling industries sink, but the industrialization of Nepal will definitely lag behind.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA has requested the government to adopt a policy to further encourage the vehicle assembling industry while formulating the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17708', 'image' => '20230525032755_20210112010154_Clipboard0111.jpg', 'article_date' => '2023-05-25 15:26:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17974', 'article_category_id' => '1', 'title' => 'All Should Play Role to Reduce Trade Deficit: Minister Rijal ', 'sub_title' => '', 'summary' => 'May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said so in a meeting held to discuss the action plan and implementation of trade deficit reduction under the Nepal Trade Integrated Strategy organised at the ministry on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that policies are formulated in the country, but implemented less while the implemented policies too have not got the desired results, he pointed out that support of all sectors was necessary for the reduction of trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said, "Success will be achieved in export trade promotion, trade deficit reduction and current situation of earning foreign exchange by running targeted activities with required resources as per the Nepal Trade Integrated Strategy, 2080." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Action Plan related to Trade Deficit Reduction was passed by cabinet on April 11 to address the increasing trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a cabinet meeting held on May 9 had passed Nepal Trade Integrated Strategy, 2080. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17705', 'image' => '20230525122537_trade_imbalance.jpg', 'article_date' => '2023-05-25 12:24:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17973', 'article_category_id' => '1', 'title' => 'Cash Circulation Rising in the Market ', 'sub_title' => '', 'summary' => 'May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase. According to the data published by Nepal Rastra Bank (NRB), it has been found that the cash in circulation in the market has increased in the month of Baishak (mid-April to mid-May).</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"">According to NRB, by the end of Baishak (mid-May) of the current fiscal year (FY), the market had a cash circulation of Rs 623 billion. At the end of the last fiscal year (mid-July 2022), Rs 612.2 billion were in circulation, but in mid-May 2023, it increased by Rs 11.87 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"">The cash in circulation had been continuously decreasing since the start of the current fiscal year. The circulation of cash in the market started to decrease with the decline in economic activities due to the outbreak of Covid-19 and the Russia-Ukraine war. </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 first month of the current FY (mid-July to mid-August), Rs 599 billion in cash was in circulation. After the government and NRB tightened the import and issued a tight monetary policy, the economic indicators improved. In Baisakh, the liquidity of banks and financial institutions in Nepal also increased.</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 Ashar 2079 (last July), the deposits of banks were Rs 188 billion, and by the end of Baishak (mid-May), it climbed up to Rs 212 billion. Since the current year, the NRB has increased the mandatory cash reserve ratio (CRR), causing the deposits to increase.</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"">According to the NRB’s latest Current Macroeconomic and Financial Situation Report, the country's balance sheet, foreign exchange reserves, reserve adequacy and other indicators have reached a comfortable level in Baishak.</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"">Along with this, the bank's base rate and interest rate, which had reached a high point, have started to decrease, while there has been an improvement in deposit collection and loan disbursement, NRB said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Along with the decrease in imports, the increase in remittances has also increased the foreign exchange reserves. In Ashar, NRB had a total of Rs 114.4 billion in foreign currency reserves, which increased to Rs 149 billion at the end of Baishak.</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"">Due to the strict provisions of the monetary policy, the interest rate which has been continuously rising has started to decrease. Similarly, bank deposits and credit flow of banks have also started to increase.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB has reduced the bank rate by 1.5 percentage points to 8.5 per cent through the review of monetary policy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17704', 'image' => '20230525122359_banknotes.jpg', 'article_date' => '2023-05-25 12:23:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17972', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Securities Market Declines by Almost Rs 40 Million in Baisakh', 'sub_title' => '', 'summary' => 'May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). The tax was collected from individual and institutional investors who sold securities bond at a profit.</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"">According to CDS and Clearing Limited (CDSC), there has been a decrease in tax collection in the same period this year due to the decline in turnover and share price in the secondary market of securities. According to CDSC spokesperson Suresh Neupane, capital gains tax collected from the securities market is less by Rs 37.3 million in the review period compared to the previous month (mid-March to mid-April). Previously, more than Rs 172.8 million was collected as capital gains tax.</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"">From mid-April to mid-May, CGT of more than Rs 61.2 million was collected from short-term investors and Rs 59.99 million from long-term investors. According to Neupane, more than Rs 14.3 million of such tax was collected from institutional investors.</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"">From mid-March to mid-April, more than Rs 75.6 million of CGT was collected from short-term investors and Rs 84.7 million from long-term investors. Neupane said that more than Rs 12 million capital gains tax was collected from institutional investors.</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"">Investors of the securities market have paid more than Rs 10 billion in taxes to the government in the past one year. According to CDSC, the government collected more than Rs 10.35 billion capital gains tax from securities traders in the fiscal year 2021/22. </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"">Investors say that government income can be increased by further developing and expanding the securities market amid current economic crisis. Tara Prasad Fullel, acting president of the Stock Brokers Association of Nepal (SBAN), says that tax collection from this sector should be prioritized by operating two stock exchanges. He said that as the income of the government declined along with the share price and turnover, attention should be paid to the expansion of this sector.</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"">Fullel said that the capital gains tax for individual investors should be at most 5 percent. He said that 5 percent of short-term and 3 percent of long-term capital gains tax should be exempted for individuals.</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"">Securities traders have to pay capital gains tax up to 10 percent on profits. Institutional investors are charged 10 percent and individuals are charged a maximum of 7.5 percent capital gains tax. There are two types of capital gains tax on individuals. Those who hold shares for more than 1 year and sell them are considered long-term investors and those who sell them in less than 1 year are considered short-term investors. Short-term investors have to pay 7.5 percent capital gains tax and long-term investors have to pay 5 percent capital gains tax. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17703', 'image' => '20230525113508_taxxxxx.jpg', 'article_date' => '2023-05-25 11:34:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17971', 'article_category_id' => '1', 'title' => 'No Involvement of IGP in Fake Bhutanese Refugees Scam: Nepal Police ', 'sub_title' => '', 'summary' => 'May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Wednesday, Spokesperson for the Nepal Police, Kuber Kadayat, made it clear that IGP Basanta Kunwar was not involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement reads, "The news disseminated on the sensitive issue like crime investigation without basis, fact and evidence will create confusion among the people and the Nepal Police Headquarters fully disagrees with the news that defames the credibility, image and chain of command of the police organization." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is highly condemnable to drag the IGP in controversy based on conversation of two people accusing the police chief of taking financial benefit from the accused of fake Bhutanese refugees scam, which the police says is an attempt to establish exaggerated facts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal Police is aware and committed to stand by the constitution, laws and the organisation's values and to ensure that no innocent is implicated and no guilty is left scot-free," added the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the IGP had played a role to protect the accused of the fake Bhutanese refugees scam, lawmakers in Wednesday’s meeting of the House of Representatives had drawn the attention of the home minister to carryout investigation by suspending him. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17702', 'image' => '20230525103352_police logo - Copy.jpg', 'article_date' => '2023-05-25 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17970', 'article_category_id' => '1', 'title' => 'Public Holiday in Kathmandu Valley Today ', 'sub_title' => '', 'summary' => 'May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. </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"">Today, the bhoto (a customary vest-like attire) of Rato Machhindranath will be exhibited to the public.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs announced the public holiday in three districts of the valley – Kathmandu, Lalitpur and Bhaktapur on the occasion. The ministry informed about this through a public notice on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The legendary vest is exhibited at Jawalakhel of Lalitpur each year during the festival</span>. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17701', 'image' => '20230525095621_bhoto.jpg', 'article_date' => '2023-05-25 09:55:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17969', 'article_category_id' => '1', 'title' => 'Nepal Airlines Corporation to Commence Flights to Sydney from June 21', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays. Following the receipt of flight approval from Sydney Airport, NAC has submitted the necessary documentation to the Australian Civil Aviation Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Ganesh Kumar Ghimire, the Assistant Spokesperson of NAC, stated that initially, the flights to Sydney will include a 'technical landing' in Singapore. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He mentioned that the necessary procedures to commence flights from June 21 are being actively pursued. NAC has already initiated the selection process for an aviation fuel provider in Singapore and Sydney, and they have chosen an MRO (maintenance, repair, and operation) company for both Singapore and Sydney airports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">NAC is fully prepared to operate direct flights to Sydney, Australia, utilizing the wide-body Airbus 'A' 330 aircraft, as per the corporation's plans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> Additionally, NAC will begin regular flights to Gautam Buddha International Airport from Malaysia starting on June 12. The promotional airfare from Malaysia to Gautam Buddha International Airport is incredibly affordable at just Rs 11,461.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"We are delighted to offer tickets for the Malaysia-Bhairahawa-Kathmandu route at a highly competitive price," added Ghimire. Furthermore, the airfare for the Malaysia-Bhairahawa-Kathmandu route has been fixed at Rs 12,346. -----RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17700', 'image' => '20230525064255_Nepal-Airlines-1-3.jpg', 'article_date' => '2023-05-25 06:41:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17968', 'article_category_id' => '1', 'title' => '30 Individuals Sued in Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Out of the accused, 16 have been apprehended, while 14 others remain at large. District Attorney Mahesh Khatri said that arrest warrants would be issued for the absconding individuals, and their assets and properties would be frozen pending investigation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused individuals are Keshav Prasad Dulal, Sanu Bhandari, Sagar Rai, Sandesh Sharma, Tankakumar Gurung, Indrajit Rai, Top Bahadur Rayamajhi, Sandeep Rayamajhi, Tekanarayan Pandey, Narendra KC, Bikram also known as Govindakumar Chaudhary, Ramsharan KC, and Balkrishna Khan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Other accused include Angtawa Sherpa, Shamsher Miya, Tekanath Rijal, Keshav Tuladhar, Laxmi Maharjan, Bhakta Maharjan, Ashok Pokharel, Dhiren Rai, Deepa Humagai, Niraj Rai, Rajesh Aryal, Mohanraj Rai, Ashish Budathoki, Binita Savden Limbu, Niranjankumar Kharel, Sunil Budathoki, and Pratik Thapa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the registration of the charge sheet, the court proceedings have begun, with statements being recorded and pleas being heard to determine whether the arrested individuals should be remanded in custody for further investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused face charges for their alleged involvement in fraud, document forgery, organised crime and treason. Those holding public positions will also face charges under anti-corruption and money laundering laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">District Attorney Khatri disclosed that the sued individuals are being pursued for the recovery of over Rs 270 million. The charges of fraud and forgery carry a maximum sentence of seven years, while involvement in crimes against the state may result in up to five years of imprisonment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, appropriate legal provisions will be applied to those implicated in organized crime.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17699', 'image' => '20230525061401_collage (9).jpg', 'article_date' => '2023-05-25 06:12:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17967', 'article_category_id' => '1', 'title' => 'Panchakunda, a Glacial Lake in Narchyang, Beckons Nature Lovers', 'sub_title' => '', 'summary' => 'May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The application for the broker license was open from September 18 to October 17 last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Altogether 46 companies had submitted applications for the new broker licenses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</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"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? 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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry. NADA said its attention has been drawn to the decision taken by the government for the upcoming fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA recalled that the government arranged various exemptions and facilities for the establishment of the vehicle assembling industry considering the demands placed by NADA. According to NADA, some of the vehicle manufacturing and assembling industries in Nepal are in operation and some are in the process of being established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per NADA, when a vehicle assembling industry is established in Nepal itself, the general public will get vehicles at a cheaper price, more jobs will be created and foreign technology will also be transferred to Nepal, which will greatly help in the development of Nepali technicians.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA expressed its concerns because many other industries are dependent on vehicle assembling plant. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“If the government comes up with a policy to curtail facilities while underestimating such facts, not only will the investment of industrialists investing in such assembling industries sink, but the industrialization of Nepal will definitely lag behind.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA has requested the government to adopt a policy to further encourage the vehicle assembling industry while formulating the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17708', 'image' => '20230525032755_20210112010154_Clipboard0111.jpg', 'article_date' => '2023-05-25 15:26:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17974', 'article_category_id' => '1', 'title' => 'All Should Play Role to Reduce Trade Deficit: Minister Rijal ', 'sub_title' => '', 'summary' => 'May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said so in a meeting held to discuss the action plan and implementation of trade deficit reduction under the Nepal Trade Integrated Strategy organised at the ministry on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that policies are formulated in the country, but implemented less while the implemented policies too have not got the desired results, he pointed out that support of all sectors was necessary for the reduction of trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said, "Success will be achieved in export trade promotion, trade deficit reduction and current situation of earning foreign exchange by running targeted activities with required resources as per the Nepal Trade Integrated Strategy, 2080." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Action Plan related to Trade Deficit Reduction was passed by cabinet on April 11 to address the increasing trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a cabinet meeting held on May 9 had passed Nepal Trade Integrated Strategy, 2080. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17705', 'image' => '20230525122537_trade_imbalance.jpg', 'article_date' => '2023-05-25 12:24:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17973', 'article_category_id' => '1', 'title' => 'Cash Circulation Rising in the Market ', 'sub_title' => '', 'summary' => 'May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase. According to the data published by Nepal Rastra Bank (NRB), it has been found that the cash in circulation in the market has increased in the month of Baishak (mid-April to mid-May).</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"">According to NRB, by the end of Baishak (mid-May) of the current fiscal year (FY), the market had a cash circulation of Rs 623 billion. At the end of the last fiscal year (mid-July 2022), Rs 612.2 billion were in circulation, but in mid-May 2023, it increased by Rs 11.87 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"">The cash in circulation had been continuously decreasing since the start of the current fiscal year. The circulation of cash in the market started to decrease with the decline in economic activities due to the outbreak of Covid-19 and the Russia-Ukraine war. </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 first month of the current FY (mid-July to mid-August), Rs 599 billion in cash was in circulation. After the government and NRB tightened the import and issued a tight monetary policy, the economic indicators improved. In Baisakh, the liquidity of banks and financial institutions in Nepal also increased.</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 Ashar 2079 (last July), the deposits of banks were Rs 188 billion, and by the end of Baishak (mid-May), it climbed up to Rs 212 billion. Since the current year, the NRB has increased the mandatory cash reserve ratio (CRR), causing the deposits to increase.</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"">According to the NRB’s latest Current Macroeconomic and Financial Situation Report, the country's balance sheet, foreign exchange reserves, reserve adequacy and other indicators have reached a comfortable level in Baishak.</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"">Along with this, the bank's base rate and interest rate, which had reached a high point, have started to decrease, while there has been an improvement in deposit collection and loan disbursement, NRB said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Along with the decrease in imports, the increase in remittances has also increased the foreign exchange reserves. In Ashar, NRB had a total of Rs 114.4 billion in foreign currency reserves, which increased to Rs 149 billion at the end of Baishak.</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"">Due to the strict provisions of the monetary policy, the interest rate which has been continuously rising has started to decrease. Similarly, bank deposits and credit flow of banks have also started to increase.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB has reduced the bank rate by 1.5 percentage points to 8.5 per cent through the review of monetary policy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17704', 'image' => '20230525122359_banknotes.jpg', 'article_date' => '2023-05-25 12:23:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17972', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Securities Market Declines by Almost Rs 40 Million in Baisakh', 'sub_title' => '', 'summary' => 'May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). The tax was collected from individual and institutional investors who sold securities bond at a profit.</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"">According to CDS and Clearing Limited (CDSC), there has been a decrease in tax collection in the same period this year due to the decline in turnover and share price in the secondary market of securities. According to CDSC spokesperson Suresh Neupane, capital gains tax collected from the securities market is less by Rs 37.3 million in the review period compared to the previous month (mid-March to mid-April). Previously, more than Rs 172.8 million was collected as capital gains tax.</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"">From mid-April to mid-May, CGT of more than Rs 61.2 million was collected from short-term investors and Rs 59.99 million from long-term investors. According to Neupane, more than Rs 14.3 million of such tax was collected from institutional investors.</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"">From mid-March to mid-April, more than Rs 75.6 million of CGT was collected from short-term investors and Rs 84.7 million from long-term investors. Neupane said that more than Rs 12 million capital gains tax was collected from institutional investors.</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"">Investors of the securities market have paid more than Rs 10 billion in taxes to the government in the past one year. According to CDSC, the government collected more than Rs 10.35 billion capital gains tax from securities traders in the fiscal year 2021/22. </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"">Investors say that government income can be increased by further developing and expanding the securities market amid current economic crisis. Tara Prasad Fullel, acting president of the Stock Brokers Association of Nepal (SBAN), says that tax collection from this sector should be prioritized by operating two stock exchanges. He said that as the income of the government declined along with the share price and turnover, attention should be paid to the expansion of this sector.</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"">Fullel said that the capital gains tax for individual investors should be at most 5 percent. He said that 5 percent of short-term and 3 percent of long-term capital gains tax should be exempted for individuals.</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"">Securities traders have to pay capital gains tax up to 10 percent on profits. Institutional investors are charged 10 percent and individuals are charged a maximum of 7.5 percent capital gains tax. There are two types of capital gains tax on individuals. Those who hold shares for more than 1 year and sell them are considered long-term investors and those who sell them in less than 1 year are considered short-term investors. Short-term investors have to pay 7.5 percent capital gains tax and long-term investors have to pay 5 percent capital gains tax. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17703', 'image' => '20230525113508_taxxxxx.jpg', 'article_date' => '2023-05-25 11:34:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17971', 'article_category_id' => '1', 'title' => 'No Involvement of IGP in Fake Bhutanese Refugees Scam: Nepal Police ', 'sub_title' => '', 'summary' => 'May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Wednesday, Spokesperson for the Nepal Police, Kuber Kadayat, made it clear that IGP Basanta Kunwar was not involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement reads, "The news disseminated on the sensitive issue like crime investigation without basis, fact and evidence will create confusion among the people and the Nepal Police Headquarters fully disagrees with the news that defames the credibility, image and chain of command of the police organization." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is highly condemnable to drag the IGP in controversy based on conversation of two people accusing the police chief of taking financial benefit from the accused of fake Bhutanese refugees scam, which the police says is an attempt to establish exaggerated facts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal Police is aware and committed to stand by the constitution, laws and the organisation's values and to ensure that no innocent is implicated and no guilty is left scot-free," added the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the IGP had played a role to protect the accused of the fake Bhutanese refugees scam, lawmakers in Wednesday’s meeting of the House of Representatives had drawn the attention of the home minister to carryout investigation by suspending him. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17702', 'image' => '20230525103352_police logo - Copy.jpg', 'article_date' => '2023-05-25 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17970', 'article_category_id' => '1', 'title' => 'Public Holiday in Kathmandu Valley Today ', 'sub_title' => '', 'summary' => 'May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. </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"">Today, the bhoto (a customary vest-like attire) of Rato Machhindranath will be exhibited to the public.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs announced the public holiday in three districts of the valley – Kathmandu, Lalitpur and Bhaktapur on the occasion. The ministry informed about this through a public notice on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The legendary vest is exhibited at Jawalakhel of Lalitpur each year during the festival</span>. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17701', 'image' => '20230525095621_bhoto.jpg', 'article_date' => '2023-05-25 09:55:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17969', 'article_category_id' => '1', 'title' => 'Nepal Airlines Corporation to Commence Flights to Sydney from June 21', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays. Following the receipt of flight approval from Sydney Airport, NAC has submitted the necessary documentation to the Australian Civil Aviation Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Ganesh Kumar Ghimire, the Assistant Spokesperson of NAC, stated that initially, the flights to Sydney will include a 'technical landing' in Singapore. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He mentioned that the necessary procedures to commence flights from June 21 are being actively pursued. NAC has already initiated the selection process for an aviation fuel provider in Singapore and Sydney, and they have chosen an MRO (maintenance, repair, and operation) company for both Singapore and Sydney airports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">NAC is fully prepared to operate direct flights to Sydney, Australia, utilizing the wide-body Airbus 'A' 330 aircraft, as per the corporation's plans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> Additionally, NAC will begin regular flights to Gautam Buddha International Airport from Malaysia starting on June 12. The promotional airfare from Malaysia to Gautam Buddha International Airport is incredibly affordable at just Rs 11,461.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"We are delighted to offer tickets for the Malaysia-Bhairahawa-Kathmandu route at a highly competitive price," added Ghimire. Furthermore, the airfare for the Malaysia-Bhairahawa-Kathmandu route has been fixed at Rs 12,346. -----RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17700', 'image' => '20230525064255_Nepal-Airlines-1-3.jpg', 'article_date' => '2023-05-25 06:41:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17968', 'article_category_id' => '1', 'title' => '30 Individuals Sued in Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Out of the accused, 16 have been apprehended, while 14 others remain at large. District Attorney Mahesh Khatri said that arrest warrants would be issued for the absconding individuals, and their assets and properties would be frozen pending investigation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused individuals are Keshav Prasad Dulal, Sanu Bhandari, Sagar Rai, Sandesh Sharma, Tankakumar Gurung, Indrajit Rai, Top Bahadur Rayamajhi, Sandeep Rayamajhi, Tekanarayan Pandey, Narendra KC, Bikram also known as Govindakumar Chaudhary, Ramsharan KC, and Balkrishna Khan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Other accused include Angtawa Sherpa, Shamsher Miya, Tekanath Rijal, Keshav Tuladhar, Laxmi Maharjan, Bhakta Maharjan, Ashok Pokharel, Dhiren Rai, Deepa Humagai, Niraj Rai, Rajesh Aryal, Mohanraj Rai, Ashish Budathoki, Binita Savden Limbu, Niranjankumar Kharel, Sunil Budathoki, and Pratik Thapa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the registration of the charge sheet, the court proceedings have begun, with statements being recorded and pleas being heard to determine whether the arrested individuals should be remanded in custody for further investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused face charges for their alleged involvement in fraud, document forgery, organised crime and treason. Those holding public positions will also face charges under anti-corruption and money laundering laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">District Attorney Khatri disclosed that the sued individuals are being pursued for the recovery of over Rs 270 million. The charges of fraud and forgery carry a maximum sentence of seven years, while involvement in crimes against the state may result in up to five years of imprisonment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, appropriate legal provisions will be applied to those implicated in organized crime.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17699', 'image' => '20230525061401_collage (9).jpg', 'article_date' => '2023-05-25 06:12:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17967', 'article_category_id' => '1', 'title' => 'Panchakunda, a Glacial Lake in Narchyang, Beckons Nature Lovers', 'sub_title' => '', 'summary' => 'May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The application for the broker license was open from September 18 to October 17 last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Altogether 46 companies had submitted applications for the new broker licenses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</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"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - 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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 25: The NADA Automobiles Dealers Association has taken strong exception to the government’s decision to curtail facilities such as tax exemption and other facilities for vehicle assembling industry. NADA said its attention has been drawn to the decision taken by the government for the upcoming fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA recalled that the government arranged various exemptions and facilities for the establishment of the vehicle assembling industry considering the demands placed by NADA. According to NADA, some of the vehicle manufacturing and assembling industries in Nepal are in operation and some are in the process of being established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per NADA, when a vehicle assembling industry is established in Nepal itself, the general public will get vehicles at a cheaper price, more jobs will be created and foreign technology will also be transferred to Nepal, which will greatly help in the development of Nepali technicians.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA expressed its concerns because many other industries are dependent on vehicle assembling plant. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“If the government comes up with a policy to curtail facilities while underestimating such facts, not only will the investment of industrialists investing in such assembling industries sink, but the industrialization of Nepal will definitely lag behind.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NADA has requested the government to adopt a policy to further encourage the vehicle assembling industry while formulating the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17708', 'image' => '20230525032755_20210112010154_Clipboard0111.jpg', 'article_date' => '2023-05-25 15:26:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17974', 'article_category_id' => '1', 'title' => 'All Should Play Role to Reduce Trade Deficit: Minister Rijal ', 'sub_title' => '', 'summary' => 'May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: Minister for Industry, Commerce and Supplies, Ramesh Rijal, has urged all to play their part with honesty to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said so in a meeting held to discuss the action plan and implementation of trade deficit reduction under the Nepal Trade Integrated Strategy organised at the ministry on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that policies are formulated in the country, but implemented less while the implemented policies too have not got the desired results, he pointed out that support of all sectors was necessary for the reduction of trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal said, "Success will be achieved in export trade promotion, trade deficit reduction and current situation of earning foreign exchange by running targeted activities with required resources as per the Nepal Trade Integrated Strategy, 2080." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Action Plan related to Trade Deficit Reduction was passed by cabinet on April 11 to address the increasing trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, a cabinet meeting held on May 9 had passed Nepal Trade Integrated Strategy, 2080. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17705', 'image' => '20230525122537_trade_imbalance.jpg', 'article_date' => '2023-05-25 12:24:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17973', 'article_category_id' => '1', 'title' => 'Cash Circulation Rising in the Market ', 'sub_title' => '', 'summary' => 'May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: With the improvement in the external and internal sectors of the economy, cash transactions in the market have also started to increase. According to the data published by Nepal Rastra Bank (NRB), it has been found that the cash in circulation in the market has increased in the month of Baishak (mid-April to mid-May).</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"">According to NRB, by the end of Baishak (mid-May) of the current fiscal year (FY), the market had a cash circulation of Rs 623 billion. At the end of the last fiscal year (mid-July 2022), Rs 612.2 billion were in circulation, but in mid-May 2023, it increased by Rs 11.87 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"">The cash in circulation had been continuously decreasing since the start of the current fiscal year. The circulation of cash in the market started to decrease with the decline in economic activities due to the outbreak of Covid-19 and the Russia-Ukraine war. </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 first month of the current FY (mid-July to mid-August), Rs 599 billion in cash was in circulation. After the government and NRB tightened the import and issued a tight monetary policy, the economic indicators improved. In Baisakh, the liquidity of banks and financial institutions in Nepal also increased.</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 Ashar 2079 (last July), the deposits of banks were Rs 188 billion, and by the end of Baishak (mid-May), it climbed up to Rs 212 billion. Since the current year, the NRB has increased the mandatory cash reserve ratio (CRR), causing the deposits to increase.</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"">According to the NRB’s latest Current Macroeconomic and Financial Situation Report, the country's balance sheet, foreign exchange reserves, reserve adequacy and other indicators have reached a comfortable level in Baishak.</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"">Along with this, the bank's base rate and interest rate, which had reached a high point, have started to decrease, while there has been an improvement in deposit collection and loan disbursement, NRB said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Along with the decrease in imports, the increase in remittances has also increased the foreign exchange reserves. In Ashar, NRB had a total of Rs 114.4 billion in foreign currency reserves, which increased to Rs 149 billion at the end of Baishak.</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"">Due to the strict provisions of the monetary policy, the interest rate which has been continuously rising has started to decrease. Similarly, bank deposits and credit flow of banks have also started to increase.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB has reduced the bank rate by 1.5 percentage points to 8.5 per cent through the review of monetary policy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17704', 'image' => '20230525122359_banknotes.jpg', 'article_date' => '2023-05-25 12:23:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17972', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Securities Market Declines by Almost Rs 40 Million in Baisakh', 'sub_title' => '', 'summary' => 'May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 25: The government collected capital gains tax (CGT) of Rs 135.48 million in the month of Baishakh (mid-April to mid-May). The tax was collected from individual and institutional investors who sold securities bond at a profit.</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"">According to CDS and Clearing Limited (CDSC), there has been a decrease in tax collection in the same period this year due to the decline in turnover and share price in the secondary market of securities. According to CDSC spokesperson Suresh Neupane, capital gains tax collected from the securities market is less by Rs 37.3 million in the review period compared to the previous month (mid-March to mid-April). Previously, more than Rs 172.8 million was collected as capital gains tax.</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"">From mid-April to mid-May, CGT of more than Rs 61.2 million was collected from short-term investors and Rs 59.99 million from long-term investors. According to Neupane, more than Rs 14.3 million of such tax was collected from institutional investors.</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"">From mid-March to mid-April, more than Rs 75.6 million of CGT was collected from short-term investors and Rs 84.7 million from long-term investors. Neupane said that more than Rs 12 million capital gains tax was collected from institutional investors.</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"">Investors of the securities market have paid more than Rs 10 billion in taxes to the government in the past one year. According to CDSC, the government collected more than Rs 10.35 billion capital gains tax from securities traders in the fiscal year 2021/22. </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"">Investors say that government income can be increased by further developing and expanding the securities market amid current economic crisis. Tara Prasad Fullel, acting president of the Stock Brokers Association of Nepal (SBAN), says that tax collection from this sector should be prioritized by operating two stock exchanges. He said that as the income of the government declined along with the share price and turnover, attention should be paid to the expansion of this sector.</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"">Fullel said that the capital gains tax for individual investors should be at most 5 percent. He said that 5 percent of short-term and 3 percent of long-term capital gains tax should be exempted for individuals.</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"">Securities traders have to pay capital gains tax up to 10 percent on profits. Institutional investors are charged 10 percent and individuals are charged a maximum of 7.5 percent capital gains tax. There are two types of capital gains tax on individuals. Those who hold shares for more than 1 year and sell them are considered long-term investors and those who sell them in less than 1 year are considered short-term investors. Short-term investors have to pay 7.5 percent capital gains tax and long-term investors have to pay 5 percent capital gains tax. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17703', 'image' => '20230525113508_taxxxxx.jpg', 'article_date' => '2023-05-25 11:34:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17971', 'article_category_id' => '1', 'title' => 'No Involvement of IGP in Fake Bhutanese Refugees Scam: Nepal Police ', 'sub_title' => '', 'summary' => 'May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The Nepal Police has clarified that the Inspector General of Police is not involved in the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Wednesday, Spokesperson for the Nepal Police, Kuber Kadayat, made it clear that IGP Basanta Kunwar was not involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement reads, "The news disseminated on the sensitive issue like crime investigation without basis, fact and evidence will create confusion among the people and the Nepal Police Headquarters fully disagrees with the news that defames the credibility, image and chain of command of the police organization." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is highly condemnable to drag the IGP in controversy based on conversation of two people accusing the police chief of taking financial benefit from the accused of fake Bhutanese refugees scam, which the police says is an attempt to establish exaggerated facts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal Police is aware and committed to stand by the constitution, laws and the organisation's values and to ensure that no innocent is implicated and no guilty is left scot-free," added the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the IGP had played a role to protect the accused of the fake Bhutanese refugees scam, lawmakers in Wednesday’s meeting of the House of Representatives had drawn the attention of the home minister to carryout investigation by suspending him. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17702', 'image' => '20230525103352_police logo - Copy.jpg', 'article_date' => '2023-05-25 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17970', 'article_category_id' => '1', 'title' => 'Public Holiday in Kathmandu Valley Today ', 'sub_title' => '', 'summary' => 'May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 25: The government has announced a public holiday today (Thursday) in the Kathmandu Valley on the occasion of the Rato Machhindranath festival. </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"">Today, the bhoto (a customary vest-like attire) of Rato Machhindranath will be exhibited to the public.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs announced the public holiday in three districts of the valley – Kathmandu, Lalitpur and Bhaktapur on the occasion. The ministry informed about this through a public notice on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The legendary vest is exhibited at Jawalakhel of Lalitpur each year during the festival</span>. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17701', 'image' => '20230525095621_bhoto.jpg', 'article_date' => '2023-05-25 09:55:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17969', 'article_category_id' => '1', 'title' => 'Nepal Airlines Corporation to Commence Flights to Sydney from June 21', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Nepal Airlines Corporation (NAC), the national flag carrier, has secured slots at Sydney Airport in Australia. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Sydney Airport has granted permission and slots to NAC for two weekly flights on Thursdays and Saturdays. Following the receipt of flight approval from Sydney Airport, NAC has submitted the necessary documentation to the Australian Civil Aviation Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Ganesh Kumar Ghimire, the Assistant Spokesperson of NAC, stated that initially, the flights to Sydney will include a 'technical landing' in Singapore. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He mentioned that the necessary procedures to commence flights from June 21 are being actively pursued. NAC has already initiated the selection process for an aviation fuel provider in Singapore and Sydney, and they have chosen an MRO (maintenance, repair, and operation) company for both Singapore and Sydney airports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">NAC is fully prepared to operate direct flights to Sydney, Australia, utilizing the wide-body Airbus 'A' 330 aircraft, as per the corporation's plans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> Additionally, NAC will begin regular flights to Gautam Buddha International Airport from Malaysia starting on June 12. The promotional airfare from Malaysia to Gautam Buddha International Airport is incredibly affordable at just Rs 11,461.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"We are delighted to offer tickets for the Malaysia-Bhairahawa-Kathmandu route at a highly competitive price," added Ghimire. Furthermore, the airfare for the Malaysia-Bhairahawa-Kathmandu route has been fixed at Rs 12,346. -----RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17700', 'image' => '20230525064255_Nepal-Airlines-1-3.jpg', 'article_date' => '2023-05-25 06:41:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17968', 'article_category_id' => '1', 'title' => '30 Individuals Sued in Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 25: Kathmandu District Attorney Office has filed a charge sheet against 30 individuals in fake Bhutanese refugee scam at the District Court.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Out of the accused, 16 have been apprehended, while 14 others remain at large. District Attorney Mahesh Khatri said that arrest warrants would be issued for the absconding individuals, and their assets and properties would be frozen pending investigation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused individuals are Keshav Prasad Dulal, Sanu Bhandari, Sagar Rai, Sandesh Sharma, Tankakumar Gurung, Indrajit Rai, Top Bahadur Rayamajhi, Sandeep Rayamajhi, Tekanarayan Pandey, Narendra KC, Bikram also known as Govindakumar Chaudhary, Ramsharan KC, and Balkrishna Khan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Other accused include Angtawa Sherpa, Shamsher Miya, Tekanath Rijal, Keshav Tuladhar, Laxmi Maharjan, Bhakta Maharjan, Ashok Pokharel, Dhiren Rai, Deepa Humagai, Niraj Rai, Rajesh Aryal, Mohanraj Rai, Ashish Budathoki, Binita Savden Limbu, Niranjankumar Kharel, Sunil Budathoki, and Pratik Thapa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the registration of the charge sheet, the court proceedings have begun, with statements being recorded and pleas being heard to determine whether the arrested individuals should be remanded in custody for further investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The accused face charges for their alleged involvement in fraud, document forgery, organised crime and treason. Those holding public positions will also face charges under anti-corruption and money laundering laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">District Attorney Khatri disclosed that the sued individuals are being pursued for the recovery of over Rs 270 million. The charges of fraud and forgery carry a maximum sentence of seven years, while involvement in crimes against the state may result in up to five years of imprisonment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, appropriate legal provisions will be applied to those implicated in organized crime.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-25', 'modified' => '2023-05-25', 'keywords' => '', 'description' => '', 'sortorder' => '17699', 'image' => '20230525061401_collage (9).jpg', 'article_date' => '2023-05-25 06:12:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17967', 'article_category_id' => '1', 'title' => 'Panchakunda, a Glacial Lake in Narchyang, Beckons Nature Lovers', 'sub_title' => '', 'summary' => 'May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The application for the broker license was open from September 18 to October 17 last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Altogether 46 companies had submitted applications for the new broker licenses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</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"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? 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| 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
