Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year,…
Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year,…
May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of…
The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of…
May 8: When people hear the term 'New Economy', many still get confused, what it actually…
Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the…
May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of…
May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on…
May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu…
May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy.…
May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is…
May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee…
US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early…
May 7: The budget session of federal parliament kicked off on Sunday.…
Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company…
The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the…
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With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </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"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate 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 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </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"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </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"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate 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 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </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"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17799', 'article_category_id' => '1', 'title' => 'Government’s Efforts to Improve Economy Inadequate: Dr Swarnim Wagle', 'sub_title' => '', 'summary' => 'Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 9: Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle stated that these efforts were not enough and that the economy needs drastic measures rather than ritualistic ones, said Dr Wagle during a meeting of the House of Representatives on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite accommodating many things, the principles and priorities outlined in the bill have not met the expectations of the people, according to Dr Wagle. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He commented that it would be inappropriate to talk about economic growth and prosperity when the country's economy has lost its pace. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </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"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate 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 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </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"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </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"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate 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 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </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"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
