KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs…
KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs…
The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on…
KATHMANDU: The Republic of Iceland has inaugurated its new consulate in…
KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus…
DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on…
KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local…
KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority…
KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor…
NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial…
KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS…
KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal…
The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on…
KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY)…
KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup…
KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the price of the precious yellow metal had set an all-time high record of Rs 142,200 per tola (11.66 grams) in the domestic market on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold is being traded at Rs 142,700 per tola against Rs 141,000 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the federation has fixed the price of worked gold at Rs 142,000 per tola. It was traded at Rs 140,000 on Monday. </span><br /> The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</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"">Likewise, the price of silver has gone up by Rs 25 per tola and has been fixed at Rs 1,860 on Tuesday against Rs 1,835 the previous day. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20907', 'image' => '20240604064715_20240531012532_gold newwww.jpg', 'article_date' => '2024-06-04 18:46:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21179', 'article_category_id' => '1', 'title' => 'NEPSE Gains 6.22 Points, Settles at 2085.30', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 4: The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 315 scrips were traded on the NEPSE through 53,999 transactions. A total of 8,305,786 units of shares changed hands, resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with a total transaction of Rs 20 crore. Global IME Laghubitta Bittiya Sanstha Limited (GILB) gained 10% and hit the positive circuit for the day. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) faced the maximum loss of 5.51%, closing at a market price of Rs 635 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in green territory except for the Hydropower Index, Mutual Fund Index, and Others Index. The Trading Index gained the most at 2.70%, while the Hydropower Index incurred the biggest loss of 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20906', 'image' => '20240604045224_collage (6).jpg', 'article_date' => '2024-06-04 16:50:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21178', 'article_category_id' => '1', 'title' => 'Iceland Marks Inauguration of New Consulate in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Issuing a statement on Tuesday, the consulate said that an event was held at the Hotel Yak and Yeti to mark the inauguration as well as the appointment of Vidushi Rana as the new honorary consul of the Republic of Iceland.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">According to the statement, the event was graced by distinguished personalities and dignitaries from various sectors, “reflecting the importance of this diplomatic milestone”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Minister for Industry, Commerce, and Supplies, Damodar Bhandari, was the chief guest of the event. Iceland’s ambassador to Nepal Gudni Bragason also attended the event as a special guest, underscoring the strengthening bilateral relations between Nepal and Iceland, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event was also attended by several Members of Parliament as well as foreign ambassadors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Vidushi Rana, in her capacity as the new honorary consul, expressed her gratitude and commitment to fostering stronger relations between Nepal and Iceland. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">She highlighted the mutual benefits of enhanced diplomatic and economic ties and looked forward to her role in promoting cultural and commercial exchanges between the two nations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">“The inauguration of the new consulate premises in Kathmandu signifies a new chapter in Nepal-Iceland relations, aimed at facilitating smoother diplomatic interactions and promoting bilateral cooperation,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event concluded with a reception, allowing guests to network and discuss future collaborative opportunities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Rana was appointed as the honorary consul of Iceland on January 4.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20905', 'image' => '20240604043158_Inauguration- 8.jpg', 'article_date' => '2024-06-04 16:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21177', 'article_category_id' => '1', 'title' => 'Settlement of Coronavirus Insurance Claims worth Rs 11.5 Billion becomes Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance. However, it is still not certain whether the insured will get paid due to confusion regarding who shall pay the amount promised by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The people in general infected with the novel corona virus (Covid-19) are liable to receive about Rs 11.5 billion in insurance claims. However, the process of settling the claims has become uncertain as the OAG in its report pointed out that it is not appropriate for the government to pay such a large amount on the basis of a secretary-level decision.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to the report prepared by the Office of the Auditor General, as of mid-June 2079, the government has released Rs 6.10 billion for coronavirus insurance while it is yet to settle claims worth Rs 11.34 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The report has also instructed the Nepal Insurance Authority to get the payment done by the insurance companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Surya Prasad Silwal, chairman of the authority, said that the government cannot shy away from its responsibility. He argued that the coronavirus insurance policy was issued with the consent of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">"I have not read what the Office of the Auditor General has written in its report," he said, "But the government cannot get away from the responsibility to bear the cost of coronavirus insurance."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The government has not yet made a formal decision not to bear the responsibility of settling the claims of coronavirus insurance. Last October, the government has released Rs 1 billion for settling the claims. After that, no additional amount has been released.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The Office of the Auditor General has mentioned in its audit report of the last fiscal year that the decision of the Government of Nepal to bear the unlimited liability of coronavirus insurance is not appropriate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Insurance companies have also prepared to file a case against the government for the delay in releasing the payments as promised. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Immediately after the start of the Covid-19 pandemic, the then Insurance Board (currently Nepal Insurance Authority) issued instructions to the insurance companies to sell coronavirus insurance in March 2076. Following the instruction, the non-life insurance companies started selling insurance policies for which the government has promised to reimburse the amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As the number of infected people increased, the companies tried to stop issuing the insurance policy within three months. However, since the Ministry of Finance assured the insurers by announcing that that the government would provide the insurance amount through the budget, the insurance companies gave continuity to the scheme. However, the government has been dilly-dallying in releasing the pledged amount.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20904', 'image' => '20240604022815_20200525021952_Adobegermumbrella.jpg', 'article_date' => '2024-06-04 14:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21175', 'article_category_id' => '1', 'title' => 'Airline Passengers, Revenues to Hit Record Highs in 2024 ', 'sub_title' => '', 'summary' => 'DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. </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"">IATA also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expected profit "is a great achievement considering the recent deep pandemic losses", IATA director general Willie Walsh told the trade body's annual general meeting in Dubai. "Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important," he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airline industry's total revenues are expected to rise nearly 10 percent to $996 billion this year, another record high, IATA said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The industry body, which includes more than 300 airlines accounting for 83 percent of global traffic, is holding its 80th AGM in the United Arab Emirates financial hub. </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"">Despite the strong figures, airlines are also facing a sharp rise in costs due to shortages of parts and labour and challenges related to climate change. </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"">Their total expenses are also expected to hit a record high this year, climbing 9.4 percent to $936 billion, IATA said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20903', 'image' => '20240604125617_airlines-1137400812.jpg', 'article_date' => '2024-06-04 12:55:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21176', 'article_category_id' => '1', 'title' => 'Car Rally to Dapcha to Promote Heritage Site', 'sub_title' => '', 'summary' => 'KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.</span></p> <p><span style="font-size:18px">Issuing a recent statement, the association said that the rally that started from Kathmandu on Friday ended at Dapcha via Banepa, Panauti, and Namobuddha.</span></p> <p><span style="font-size:18px">“The rally started from Lazimpat-based Dusit Princess after having a wonderful breakfast hosted by the hotel. The main host of the rally was Hotel Dusit Thani Himalayan Resort, Dhulikhel where all the participants were accommodated with lunch and dinner,” the statement reads.</span></p> <p><span style="font-size:18px">According to the statement, the rally was attended by 36 participants (Skal members) using 25 vehicles.</span></p> <p><span style="font-size:18px">The main objective of the car rally is to showcase the historical and medieval town of Dapcha to help preserve its dying heritage, added the statement.</span></p> <p><span style="font-size:18px">An interaction program was also organized at Dusit Thani Himalayan resort, said the organisers.</span></p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20902', 'image' => '20240604011658_Pic 7.jpg', 'article_date' => '2024-06-04 13:16:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21174', 'article_category_id' => '1', 'title' => 'Over 1.8 Million People Likely to be Affected in Monsoon this Year ', 'sub_title' => '', 'summary' => 'KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the details released by the NDRRMA on Monday, more than 1.8 million people might be affected during this year's monsoon following the expectation of more rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA Spokesperson Dr Disan Bhattarai shared that more than 1.8 million people of 412,000 households would likely be affected in different ways during the monsoon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A situation might surface where 83,000 families would be directly affected and 18,000 households need to be rescued and provided with relief, NDRRMA said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last year, it was estimated that 1.2 million people would be affected by the monsoon while more than two million people were affected. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Meteorology and Hydrology has already forecast that there is possibility of 35-55 per cent more rainfall than average rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Bhattarai mentioned that all the responsible agencies have already been directed to carry out necessary preparations considering higher risk this time. The preparedness work is being done in accordance with the monsoon preparedness and response national action plan developed by the Home Ministry. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20901', 'image' => '20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-04 11:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21173', 'article_category_id' => '1', 'title' => 'KMC Arranges 374 Beds for Helpless at 52 Hospitals ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private hospitals are obliged to allocate a minimum of 10 percent beds for free treatment to the helpless people as per KMC's edict. </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"">Public health inspector at the health department of KMC, Dhanendra Shrestha, informed that 70 patients have so far benefitted from the scheme launched in February. Most of those receiving the service are from out of the capital city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the private hospitals flouted legal provisions, the KMC introduced a free treatment work procedure, 2080 and enforced its strict implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has also arranged a system where the availability of beds, treatment services and other schemes at private hospitals can be checked online. </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"">Shrestha further informed that most of the patients receiving treatment under this scheme are suffering from ear, nose and throat (ENT) problems, and kidney disease, while some are having respiratory and eye problems. </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"">One can dial KMC’s hotline number 1180 to receive information about the treatment or for the service. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20900', 'image' => '20240604105140_20230830033211_Hospital.jpg', 'article_date' => '2024-06-04 10:51:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21172', 'article_category_id' => '1', 'title' => 'NIC Asia Bank Receives ‘Infosys Finacle Innovation Awards 2024’', 'sub_title' => '', 'summary' => 'NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 4: NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank received the ‘Channel Innovation Platinum’ award for 2024, an accolade given annually by the international service provider ‘Infosys Finacle’.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NIC Asia Bank won this award in the innovation category, competing against 200 applicants across 10 categories. The award was given in recognition of its innovative and outstanding product, iServe, which enhances Nepal's digital banking services and provides international-level online banking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">iServe is the top digital platform introduced by the bank in Nepal. It offers the convenience of using digital banking services from home or office, eliminating the need to visit the bank’s branch office physically.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank believes that this recognition will help further refine its digital services and reach more customers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20899', 'image' => '20240604083825_collage (21).jpg', 'article_date' => '2024-06-04 08:36:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21171', 'article_category_id' => '1', 'title' => 'Upper House Members Air Mixed Views on Budget ', 'sub_title' => '', 'summary' => 'KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Airing their views during the general deliberations on the estimations of the government's income and expenditure for the upcoming fiscal year on Monday, Kamala Panta said the implementation of the budget is challenging when it is warranted to revive the economy finding ways to address the economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Questioning over the exclusion of the matters about observing the year 2024 as a tourism year, the lawmaker said she wanted to be clear whether the government moved back from its commitments regarding the celebrations of the tourism year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maya Prasad Sharma said the budget suggests a realistic approach. "The policies, programmes, and the budget speech for the upcoming fiscal year are capable of building a vibrant atmosphere," hoping for effective implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharada Devi Bhatta said the budget to some extent is balanced and suggests vibrancy. "Budget should be civic-centered," she said, welcoming the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayantidevi Rai said the budget is principally seen as highly positive, but the implementation side is challenging. Announcements to promote investment in agriculture and domestic production are encouraging, she said. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Budget ambitious, challenges in implementation </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upper house member Puja Chaudhary termed the budget an ambitious one. "The budget is much more ambitious," she said drawing the government to increase employees' payroll as well bearing in mind the increasing price rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Tul Prasad Bishwakarma said the budget this time has been able to raise hope among the people more than the previous one. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the government's announcement to observe the upcoming decade as the decade for investment in the agricultural sector, the budget size for the agricultural sector in the next fiscal year reduced, he said. He was of the opinion that the budget should gradually minimize the size of foreign debt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anjan Shakya said the budget is overall balanced and realistic. Questioning about potential sources for managing capital for the private sector, Shakya said banks and financial institutions are unable to expand loan facilities for the private sector due to various policy-level issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nar Bahadur Bist called for implementing the commitments to promoting cannabis farming for medicinal use with the help of a law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Bahadur Pariyar said that overall the budget has addressed all sectors while Sonam Geljen Sherpa and Gomadevi Timilsina said though the budget is people-centered, challenges for its implementation loom large. -- RSS</span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20898', 'image' => '20240603064444_20240514115805_Parliament.jpg', 'article_date' => '2024-06-03 18:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21170', 'article_category_id' => '1', 'title' => 'Budget Receives Mixed Reactions from Lawmakers', 'sub_title' => '', 'summary' => 'KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Taking part in general deliberations on the estimations of the government's income and expenditure for the fiscal year 2024-25 in a meeting of the House of Representatives on Monday, Ashok Kumar Chaudhary of Rastriya Swatantra Party said the budget is not realistic. Accusing the government of overlooking the sports sector in the budget speech, he also demanded a substantive approach to promote the agricultural sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to Sher Bahadur Kunwar of the CPN (Unified Socialist), the budget, introduced amid an economic slowdown, is expected to encounter implementation challenges. "On the one hand, the capital deficit persists, while on the other, the capital flight looms large. Our primary focus should be on managing the capital crisis."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Gyan Bahadur Shahi of Rastriya Prajatantra Party said the budget is expected to focus more on job creation and the development of the agriculture sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">He proposed to implement a separate provision for the development of the mountain region as only two months Baisakh (mid-April to mid-May) and Jestha (mid- May to mid-June June) are favorable for undertaking development endeavors in the region. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20897', 'image' => '20240603062956_KRB-KTM-21image_123650291(1)copy.JPG', 'article_date' => '2024-06-03 18:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21169', 'article_category_id' => '1', 'title' => 'NEPSE Sheds Minimal 3.97 Points, Closes at 2079.07', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px">May 3: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.</span></p> <p><span style="font-size:20px">During today’s trading session, 316 scrips were traded on the NEPSE through 59,295 transactions. A total of 8,820,125 units of shares changed hands, resulting in a total turnover of Rs 4 billion.</span></p> <p><span style="font-size:20px">NRN Infrastructure and Development Limited (NRN) led the turnover amount with total transactions worth Rs 14 crores. Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the highest gain of 9.66%, closing at a market price of Rs 670 per share.</span></p> <p><span style="font-size:20px">Conversely, NIBL Stable Fund (NIBLSTF) witnessed the highest loss of 10% and hit the negative circuit for the day.</span></p> <p><span style="font-size:20px">In terms of sector indices, all sectors closed in negative territory except the Microfinance Index, while the Finance Index remained unchanged. The Microfinance Index gained the most at 2.43%, while the Manufacturing and Processing Index lost the most at 1.05%.</span><br /> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20896', 'image' => '20240603033450_collage (20).jpg', 'article_date' => '2024-06-03 15:17:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21168', 'article_category_id' => '1', 'title' => 'Local-Level Representatives Protest Federal Government’s Decision to Cut Grants', 'sub_title' => '', 'summary' => 'KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the federal government reduced the fiscal equalization grant due to low revenue collection and resource crunch, local-level representatives staged a protest in front of the Ministry of Finance on Sunday. The Council of Ministers meeting on February 8 had decided to reduce the fiscal equalization grant for the last installment of the current year by 25.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives stated that the reduction of the equalization grant has affected development and construction work in the rural municipalities as they have limited resources. Most of the municipalities rely heavily on resources provided by the central government for their budgets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives demanded the federal government to reverse the grant cut, calling it unconstitutional, and correct this decision within one week. Representatives from the National Association of Rural Municipalities in Nepal and the Municipal Association of Nepal, who participated in the demonstration outside the Ministry of Finance, warned that if they do not receive the grant within the specified period, they will shut down the local governments across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to them, projects have been affected due to the lack of disbursement of Rs 24.48 billion under equalization grant this year. On May 20, a joint meeting of both the associations decided to meet with the Prime Minister, Minister of Finance, and Chief Whips of all political parties to demand the immediate disbursement of the stalled equalization grant. Consequently, the local level united in protest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhim Prasad Dhungana, president of the Municipal Association of Nepal, said that the federal government has not sent the full amount of the fiscal equalization grant due for the last installment and has made further cuts in the new budget. "We feel that the government has cheated us," he told New Business Age. "We want to have a meaningful conversation with the federal government. Now we will not stay silent."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite calling for the correction of the decision made some months ago, Dhungana stated that they had to resort to protest as they did not receive any response from the federal government. Last year, the federal government also cut the subsidy but had to back down after strong protests. Dhungana noted that the same unconstitutional attitude is being displayed by the central government now, and they will not back down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Laxmi Devi Pandey, president of the National Association of Rural Municipalities in Nepal, said that since the grant supposed to be sent to the villages was not sent, she had to come to Kathmandu. "We are meeting the finance minister and the prime minister," she said. "The federal government's decision to cut the grant amount is not acceptable."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government sends four types of grants to the local levels: Equalization, Conditional, Special, and Supplementary. People's representatives said that most municipalities rely on subsidies, so cutting the budget will affect municipal operations. The Ministry of Finance stated that the fiscal equalization grant has been reduced due to resource crunch resulting from low revenue collection this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite pressure from local-level representatives, Uttar Kumar Khatri, Joint Secretary and Head of the Planning Division at the Ministry of Finance, stated that resources cannot be provided as demanded. "The government was unable to raise resources according to the target, so it had to cut the fiscal equalization grant to the local level," Khatri said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government has allocated Rs 567 billion for the upcoming fiscal year to the state and local levels under various headings, which is less than the current year. The revenue to be transferred to state and local levels will be less next year compared to the current year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20895', 'image' => '20240603032027_20230227084256_Grants-April-2019.jpg', 'article_date' => '2024-06-03 15:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21167', 'article_category_id' => '1', 'title' => 'Demand for Concessional Loans for Startup Enterprises Exceeds Allocated Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs. However, the total investment requested by startup projects seeking loans exceeds the government's budget allocation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To assist aspiring startup entrepreneurs, the government introduced a plan to provide loans at a 3 percent interest rate with project mortgages. According to the plan, the estimated investment for 335 selected projects is Rs 36 million. Umesh Kumar Gupta, Executive Director of the Industrial Enterprise Development Institute, confirmed that the investment projects have been selected for the loans. The IEDI invited interested startup entrepreneurs to submit projects by February 2. Within 21 days, 1,658 projects were registered for loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Although the number of proposals was significant, only a few projects were shortlisted for loans. Initially, 394 projects were selected. The IEDI arranged for these shortlisted entrepreneurs to present their business plans from May 3 to 16. Out of them, 335 entrepreneurs presented their business plans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Gupta stated that the IEDI has forwarded these plans to the Rastriya Banijya Bank for credit appraisal. During this process, the bank evaluates the startup's current business state, its ability to repay the loan, and other financial conditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entrepreneurs who scored more than 50 points in various categories during the presentation will receive loans from the Rastriya Banijya Bank. Gupta mentioned that the final list of approved projects would be completed in 2-3 days, after which it will be submitted to the bank for loan recommendations. He also noted that the loans would be disbursed from the Rastriya Banijya Bank's branch offices in the respective districts, making it more convenient for the beneficiaries. The loans are expected to be disbursed starting mid-June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Current data indicates that about 220 projects have scored more than 50 points. Gupta emphasized that the total budget for this program is Rs 25 million. A list of entrepreneurs will be prepared within this budget, and loans will be provided to the projects scoring more than 50 points.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, some projects require loans up to Rs 2.5 million. The government policy allows for concessional loans up to a maximum of Rs 2.5 million per startup enterprise. The disbursement of this amount will be based on the project's needs and demands and will be provided in installments. The second and third installments will be given only after verifying the utilization of the previous installment by visiting the project site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government will provide these loans according to the 'Startup Enterprise Loan Operation Procedure-2080' issued on January 25. The IEDI has designated 16 different areas for these loans, and entrepreneurs whose businesses were registered less than 7 years are eligible. Eligible sectors include agriculture and forestry, tourism promotion and entertainment, hospitality, science and technology, information and communication, human health services, education, transportation services, automobiles, renewable energy, climate change mitigation, and more.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Projects for such loans have been submitted from various districts, including Sankhuwasabha, Kathmandu, Bhaktapur, Lalitpur, Kavrepalanchok, Dhading, Chitwan, Nuwakot, Rasuwa, Morang, Sunsari, Kailali, Lamjung, Gorkha, Arghakhanchi, Kaski, Bara, Achham, Dang, Bajura, Baitadi, Jhapa, Banke, Makwanpur, Humla, Darchula, Kalikot, Salyan, Panchthar, Gulmi, Saptari, and Pyuthan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20894', 'image' => '20240603030232_startup.jpg', 'article_date' => '2024-06-03 15:01:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21166', 'article_category_id' => '1', 'title' => 'Former Finance Minister Mahat Calls for Ramping up Investment in Productive Sector ', 'sub_title' => '', 'summary' => 'KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the annual estimations of revenues and expenditures for the fiscal year 2024-25 in the lower house of the Federal Parliament on Sunday, Mahat said that the failure to invest in the productive sector will impede the nation's economic growth.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Production and employment cannot be increased, nor can revenue, if loans are not used to invest in productive sectors. As a result, the state's debt burden increases, leading to a cycle of taking more loans to repay existing ones,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat expressed his objections to the budget, saying that the budgetary appropriations for the next fiscal year in it were 'scattered'. He argued that the budget should be pro-people than party-oriented and the allocated budget should be spend on the basis of prioritization. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said although the size of the budget has increased, the country's economic development cannot be achieved if it is not spent in a systematic manner. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">“The government is struggling to generate revenue because financial resources are not spent in productive sectors, and this has also failed to create jobs. The budget allocations for the next fiscal year have not been prioritized or apportioned based on need,” he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating the budget allocated for the Ministry of Industry and Supplies is inadequate, he criticized the budget because the allocations have been made in such a way that they will be spent in unproductive sectors than in the productive ones. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former finance minister stressed on being sensitive on the topic of mobilization and spending of financial resources. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The budget for the upcoming fiscal year has not been able to navigate a concrete direction. Investment has been made, we have been collecting taxes, but the production has not increased. It is necessary to find a solution to these problems," he pointed out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the state's foreign debt has been going up and the debt burden of loans taken from the private sector is accumulating, he said that the government has not been able to generate revenue as expected revenue and this has led to a decline in the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat said the depositors of cooperatives have been facing problem in recent days due to the fraud cases and demanded taking stern legal action against individuals who spent the savings of the cooperatives against the cooperatives laws. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20893', 'image' => '20240603015648_20230705054200_collage (14).jpg', 'article_date' => '2024-06-03 13:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21180', 'article_category_id' => '1', 'title' => 'Price of Gold Soars by Rs 1,700 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the price of the precious yellow metal had set an all-time high record of Rs 142,200 per tola (11.66 grams) in the domestic market on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold is being traded at Rs 142,700 per tola against Rs 141,000 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the federation has fixed the price of worked gold at Rs 142,000 per tola. It was traded at Rs 140,000 on Monday. </span><br /> The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</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"">Likewise, the price of silver has gone up by Rs 25 per tola and has been fixed at Rs 1,860 on Tuesday against Rs 1,835 the previous day. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20907', 'image' => '20240604064715_20240531012532_gold newwww.jpg', 'article_date' => '2024-06-04 18:46:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21179', 'article_category_id' => '1', 'title' => 'NEPSE Gains 6.22 Points, Settles at 2085.30', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 4: The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 315 scrips were traded on the NEPSE through 53,999 transactions. A total of 8,305,786 units of shares changed hands, resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with a total transaction of Rs 20 crore. Global IME Laghubitta Bittiya Sanstha Limited (GILB) gained 10% and hit the positive circuit for the day. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) faced the maximum loss of 5.51%, closing at a market price of Rs 635 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in green territory except for the Hydropower Index, Mutual Fund Index, and Others Index. The Trading Index gained the most at 2.70%, while the Hydropower Index incurred the biggest loss of 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20906', 'image' => '20240604045224_collage (6).jpg', 'article_date' => '2024-06-04 16:50:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21178', 'article_category_id' => '1', 'title' => 'Iceland Marks Inauguration of New Consulate in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Issuing a statement on Tuesday, the consulate said that an event was held at the Hotel Yak and Yeti to mark the inauguration as well as the appointment of Vidushi Rana as the new honorary consul of the Republic of Iceland.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">According to the statement, the event was graced by distinguished personalities and dignitaries from various sectors, “reflecting the importance of this diplomatic milestone”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Minister for Industry, Commerce, and Supplies, Damodar Bhandari, was the chief guest of the event. Iceland’s ambassador to Nepal Gudni Bragason also attended the event as a special guest, underscoring the strengthening bilateral relations between Nepal and Iceland, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event was also attended by several Members of Parliament as well as foreign ambassadors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Vidushi Rana, in her capacity as the new honorary consul, expressed her gratitude and commitment to fostering stronger relations between Nepal and Iceland. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">She highlighted the mutual benefits of enhanced diplomatic and economic ties and looked forward to her role in promoting cultural and commercial exchanges between the two nations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">“The inauguration of the new consulate premises in Kathmandu signifies a new chapter in Nepal-Iceland relations, aimed at facilitating smoother diplomatic interactions and promoting bilateral cooperation,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event concluded with a reception, allowing guests to network and discuss future collaborative opportunities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Rana was appointed as the honorary consul of Iceland on January 4.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20905', 'image' => '20240604043158_Inauguration- 8.jpg', 'article_date' => '2024-06-04 16:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21177', 'article_category_id' => '1', 'title' => 'Settlement of Coronavirus Insurance Claims worth Rs 11.5 Billion becomes Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance. However, it is still not certain whether the insured will get paid due to confusion regarding who shall pay the amount promised by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The people in general infected with the novel corona virus (Covid-19) are liable to receive about Rs 11.5 billion in insurance claims. However, the process of settling the claims has become uncertain as the OAG in its report pointed out that it is not appropriate for the government to pay such a large amount on the basis of a secretary-level decision.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to the report prepared by the Office of the Auditor General, as of mid-June 2079, the government has released Rs 6.10 billion for coronavirus insurance while it is yet to settle claims worth Rs 11.34 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The report has also instructed the Nepal Insurance Authority to get the payment done by the insurance companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Surya Prasad Silwal, chairman of the authority, said that the government cannot shy away from its responsibility. He argued that the coronavirus insurance policy was issued with the consent of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">"I have not read what the Office of the Auditor General has written in its report," he said, "But the government cannot get away from the responsibility to bear the cost of coronavirus insurance."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The government has not yet made a formal decision not to bear the responsibility of settling the claims of coronavirus insurance. Last October, the government has released Rs 1 billion for settling the claims. After that, no additional amount has been released.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The Office of the Auditor General has mentioned in its audit report of the last fiscal year that the decision of the Government of Nepal to bear the unlimited liability of coronavirus insurance is not appropriate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Insurance companies have also prepared to file a case against the government for the delay in releasing the payments as promised. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Immediately after the start of the Covid-19 pandemic, the then Insurance Board (currently Nepal Insurance Authority) issued instructions to the insurance companies to sell coronavirus insurance in March 2076. Following the instruction, the non-life insurance companies started selling insurance policies for which the government has promised to reimburse the amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As the number of infected people increased, the companies tried to stop issuing the insurance policy within three months. However, since the Ministry of Finance assured the insurers by announcing that that the government would provide the insurance amount through the budget, the insurance companies gave continuity to the scheme. However, the government has been dilly-dallying in releasing the pledged amount.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20904', 'image' => '20240604022815_20200525021952_Adobegermumbrella.jpg', 'article_date' => '2024-06-04 14:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21175', 'article_category_id' => '1', 'title' => 'Airline Passengers, Revenues to Hit Record Highs in 2024 ', 'sub_title' => '', 'summary' => 'DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. </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"">IATA also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expected profit "is a great achievement considering the recent deep pandemic losses", IATA director general Willie Walsh told the trade body's annual general meeting in Dubai. "Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important," he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airline industry's total revenues are expected to rise nearly 10 percent to $996 billion this year, another record high, IATA said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The industry body, which includes more than 300 airlines accounting for 83 percent of global traffic, is holding its 80th AGM in the United Arab Emirates financial hub. </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"">Despite the strong figures, airlines are also facing a sharp rise in costs due to shortages of parts and labour and challenges related to climate change. </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"">Their total expenses are also expected to hit a record high this year, climbing 9.4 percent to $936 billion, IATA said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20903', 'image' => '20240604125617_airlines-1137400812.jpg', 'article_date' => '2024-06-04 12:55:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21176', 'article_category_id' => '1', 'title' => 'Car Rally to Dapcha to Promote Heritage Site', 'sub_title' => '', 'summary' => 'KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.</span></p> <p><span style="font-size:18px">Issuing a recent statement, the association said that the rally that started from Kathmandu on Friday ended at Dapcha via Banepa, Panauti, and Namobuddha.</span></p> <p><span style="font-size:18px">“The rally started from Lazimpat-based Dusit Princess after having a wonderful breakfast hosted by the hotel. The main host of the rally was Hotel Dusit Thani Himalayan Resort, Dhulikhel where all the participants were accommodated with lunch and dinner,” the statement reads.</span></p> <p><span style="font-size:18px">According to the statement, the rally was attended by 36 participants (Skal members) using 25 vehicles.</span></p> <p><span style="font-size:18px">The main objective of the car rally is to showcase the historical and medieval town of Dapcha to help preserve its dying heritage, added the statement.</span></p> <p><span style="font-size:18px">An interaction program was also organized at Dusit Thani Himalayan resort, said the organisers.</span></p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20902', 'image' => '20240604011658_Pic 7.jpg', 'article_date' => '2024-06-04 13:16:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21174', 'article_category_id' => '1', 'title' => 'Over 1.8 Million People Likely to be Affected in Monsoon this Year ', 'sub_title' => '', 'summary' => 'KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the details released by the NDRRMA on Monday, more than 1.8 million people might be affected during this year's monsoon following the expectation of more rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA Spokesperson Dr Disan Bhattarai shared that more than 1.8 million people of 412,000 households would likely be affected in different ways during the monsoon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A situation might surface where 83,000 families would be directly affected and 18,000 households need to be rescued and provided with relief, NDRRMA said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last year, it was estimated that 1.2 million people would be affected by the monsoon while more than two million people were affected. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Meteorology and Hydrology has already forecast that there is possibility of 35-55 per cent more rainfall than average rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Bhattarai mentioned that all the responsible agencies have already been directed to carry out necessary preparations considering higher risk this time. The preparedness work is being done in accordance with the monsoon preparedness and response national action plan developed by the Home Ministry. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20901', 'image' => '20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-04 11:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21173', 'article_category_id' => '1', 'title' => 'KMC Arranges 374 Beds for Helpless at 52 Hospitals ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private hospitals are obliged to allocate a minimum of 10 percent beds for free treatment to the helpless people as per KMC's edict. </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"">Public health inspector at the health department of KMC, Dhanendra Shrestha, informed that 70 patients have so far benefitted from the scheme launched in February. Most of those receiving the service are from out of the capital city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the private hospitals flouted legal provisions, the KMC introduced a free treatment work procedure, 2080 and enforced its strict implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has also arranged a system where the availability of beds, treatment services and other schemes at private hospitals can be checked online. </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"">Shrestha further informed that most of the patients receiving treatment under this scheme are suffering from ear, nose and throat (ENT) problems, and kidney disease, while some are having respiratory and eye problems. </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"">One can dial KMC’s hotline number 1180 to receive information about the treatment or for the service. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20900', 'image' => '20240604105140_20230830033211_Hospital.jpg', 'article_date' => '2024-06-04 10:51:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21172', 'article_category_id' => '1', 'title' => 'NIC Asia Bank Receives ‘Infosys Finacle Innovation Awards 2024’', 'sub_title' => '', 'summary' => 'NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 4: NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank received the ‘Channel Innovation Platinum’ award for 2024, an accolade given annually by the international service provider ‘Infosys Finacle’.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NIC Asia Bank won this award in the innovation category, competing against 200 applicants across 10 categories. The award was given in recognition of its innovative and outstanding product, iServe, which enhances Nepal's digital banking services and provides international-level online banking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">iServe is the top digital platform introduced by the bank in Nepal. It offers the convenience of using digital banking services from home or office, eliminating the need to visit the bank’s branch office physically.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank believes that this recognition will help further refine its digital services and reach more customers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20899', 'image' => '20240604083825_collage (21).jpg', 'article_date' => '2024-06-04 08:36:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21171', 'article_category_id' => '1', 'title' => 'Upper House Members Air Mixed Views on Budget ', 'sub_title' => '', 'summary' => 'KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Airing their views during the general deliberations on the estimations of the government's income and expenditure for the upcoming fiscal year on Monday, Kamala Panta said the implementation of the budget is challenging when it is warranted to revive the economy finding ways to address the economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Questioning over the exclusion of the matters about observing the year 2024 as a tourism year, the lawmaker said she wanted to be clear whether the government moved back from its commitments regarding the celebrations of the tourism year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maya Prasad Sharma said the budget suggests a realistic approach. "The policies, programmes, and the budget speech for the upcoming fiscal year are capable of building a vibrant atmosphere," hoping for effective implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharada Devi Bhatta said the budget to some extent is balanced and suggests vibrancy. "Budget should be civic-centered," she said, welcoming the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayantidevi Rai said the budget is principally seen as highly positive, but the implementation side is challenging. Announcements to promote investment in agriculture and domestic production are encouraging, she said. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Budget ambitious, challenges in implementation </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upper house member Puja Chaudhary termed the budget an ambitious one. "The budget is much more ambitious," she said drawing the government to increase employees' payroll as well bearing in mind the increasing price rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Tul Prasad Bishwakarma said the budget this time has been able to raise hope among the people more than the previous one. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the government's announcement to observe the upcoming decade as the decade for investment in the agricultural sector, the budget size for the agricultural sector in the next fiscal year reduced, he said. He was of the opinion that the budget should gradually minimize the size of foreign debt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anjan Shakya said the budget is overall balanced and realistic. Questioning about potential sources for managing capital for the private sector, Shakya said banks and financial institutions are unable to expand loan facilities for the private sector due to various policy-level issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nar Bahadur Bist called for implementing the commitments to promoting cannabis farming for medicinal use with the help of a law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Bahadur Pariyar said that overall the budget has addressed all sectors while Sonam Geljen Sherpa and Gomadevi Timilsina said though the budget is people-centered, challenges for its implementation loom large. -- RSS</span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20898', 'image' => '20240603064444_20240514115805_Parliament.jpg', 'article_date' => '2024-06-03 18:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21170', 'article_category_id' => '1', 'title' => 'Budget Receives Mixed Reactions from Lawmakers', 'sub_title' => '', 'summary' => 'KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Taking part in general deliberations on the estimations of the government's income and expenditure for the fiscal year 2024-25 in a meeting of the House of Representatives on Monday, Ashok Kumar Chaudhary of Rastriya Swatantra Party said the budget is not realistic. Accusing the government of overlooking the sports sector in the budget speech, he also demanded a substantive approach to promote the agricultural sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to Sher Bahadur Kunwar of the CPN (Unified Socialist), the budget, introduced amid an economic slowdown, is expected to encounter implementation challenges. "On the one hand, the capital deficit persists, while on the other, the capital flight looms large. Our primary focus should be on managing the capital crisis."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Gyan Bahadur Shahi of Rastriya Prajatantra Party said the budget is expected to focus more on job creation and the development of the agriculture sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">He proposed to implement a separate provision for the development of the mountain region as only two months Baisakh (mid-April to mid-May) and Jestha (mid- May to mid-June June) are favorable for undertaking development endeavors in the region. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20897', 'image' => '20240603062956_KRB-KTM-21image_123650291(1)copy.JPG', 'article_date' => '2024-06-03 18:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21169', 'article_category_id' => '1', 'title' => 'NEPSE Sheds Minimal 3.97 Points, Closes at 2079.07', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px">May 3: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.</span></p> <p><span style="font-size:20px">During today’s trading session, 316 scrips were traded on the NEPSE through 59,295 transactions. A total of 8,820,125 units of shares changed hands, resulting in a total turnover of Rs 4 billion.</span></p> <p><span style="font-size:20px">NRN Infrastructure and Development Limited (NRN) led the turnover amount with total transactions worth Rs 14 crores. Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the highest gain of 9.66%, closing at a market price of Rs 670 per share.</span></p> <p><span style="font-size:20px">Conversely, NIBL Stable Fund (NIBLSTF) witnessed the highest loss of 10% and hit the negative circuit for the day.</span></p> <p><span style="font-size:20px">In terms of sector indices, all sectors closed in negative territory except the Microfinance Index, while the Finance Index remained unchanged. The Microfinance Index gained the most at 2.43%, while the Manufacturing and Processing Index lost the most at 1.05%.</span><br /> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20896', 'image' => '20240603033450_collage (20).jpg', 'article_date' => '2024-06-03 15:17:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21168', 'article_category_id' => '1', 'title' => 'Local-Level Representatives Protest Federal Government’s Decision to Cut Grants', 'sub_title' => '', 'summary' => 'KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the federal government reduced the fiscal equalization grant due to low revenue collection and resource crunch, local-level representatives staged a protest in front of the Ministry of Finance on Sunday. The Council of Ministers meeting on February 8 had decided to reduce the fiscal equalization grant for the last installment of the current year by 25.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives stated that the reduction of the equalization grant has affected development and construction work in the rural municipalities as they have limited resources. Most of the municipalities rely heavily on resources provided by the central government for their budgets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives demanded the federal government to reverse the grant cut, calling it unconstitutional, and correct this decision within one week. Representatives from the National Association of Rural Municipalities in Nepal and the Municipal Association of Nepal, who participated in the demonstration outside the Ministry of Finance, warned that if they do not receive the grant within the specified period, they will shut down the local governments across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to them, projects have been affected due to the lack of disbursement of Rs 24.48 billion under equalization grant this year. On May 20, a joint meeting of both the associations decided to meet with the Prime Minister, Minister of Finance, and Chief Whips of all political parties to demand the immediate disbursement of the stalled equalization grant. Consequently, the local level united in protest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhim Prasad Dhungana, president of the Municipal Association of Nepal, said that the federal government has not sent the full amount of the fiscal equalization grant due for the last installment and has made further cuts in the new budget. "We feel that the government has cheated us," he told New Business Age. "We want to have a meaningful conversation with the federal government. Now we will not stay silent."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite calling for the correction of the decision made some months ago, Dhungana stated that they had to resort to protest as they did not receive any response from the federal government. Last year, the federal government also cut the subsidy but had to back down after strong protests. Dhungana noted that the same unconstitutional attitude is being displayed by the central government now, and they will not back down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Laxmi Devi Pandey, president of the National Association of Rural Municipalities in Nepal, said that since the grant supposed to be sent to the villages was not sent, she had to come to Kathmandu. "We are meeting the finance minister and the prime minister," she said. "The federal government's decision to cut the grant amount is not acceptable."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government sends four types of grants to the local levels: Equalization, Conditional, Special, and Supplementary. People's representatives said that most municipalities rely on subsidies, so cutting the budget will affect municipal operations. The Ministry of Finance stated that the fiscal equalization grant has been reduced due to resource crunch resulting from low revenue collection this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite pressure from local-level representatives, Uttar Kumar Khatri, Joint Secretary and Head of the Planning Division at the Ministry of Finance, stated that resources cannot be provided as demanded. "The government was unable to raise resources according to the target, so it had to cut the fiscal equalization grant to the local level," Khatri said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government has allocated Rs 567 billion for the upcoming fiscal year to the state and local levels under various headings, which is less than the current year. The revenue to be transferred to state and local levels will be less next year compared to the current year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20895', 'image' => '20240603032027_20230227084256_Grants-April-2019.jpg', 'article_date' => '2024-06-03 15:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21167', 'article_category_id' => '1', 'title' => 'Demand for Concessional Loans for Startup Enterprises Exceeds Allocated Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs. However, the total investment requested by startup projects seeking loans exceeds the government's budget allocation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To assist aspiring startup entrepreneurs, the government introduced a plan to provide loans at a 3 percent interest rate with project mortgages. According to the plan, the estimated investment for 335 selected projects is Rs 36 million. Umesh Kumar Gupta, Executive Director of the Industrial Enterprise Development Institute, confirmed that the investment projects have been selected for the loans. The IEDI invited interested startup entrepreneurs to submit projects by February 2. Within 21 days, 1,658 projects were registered for loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Although the number of proposals was significant, only a few projects were shortlisted for loans. Initially, 394 projects were selected. The IEDI arranged for these shortlisted entrepreneurs to present their business plans from May 3 to 16. Out of them, 335 entrepreneurs presented their business plans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Gupta stated that the IEDI has forwarded these plans to the Rastriya Banijya Bank for credit appraisal. During this process, the bank evaluates the startup's current business state, its ability to repay the loan, and other financial conditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entrepreneurs who scored more than 50 points in various categories during the presentation will receive loans from the Rastriya Banijya Bank. Gupta mentioned that the final list of approved projects would be completed in 2-3 days, after which it will be submitted to the bank for loan recommendations. He also noted that the loans would be disbursed from the Rastriya Banijya Bank's branch offices in the respective districts, making it more convenient for the beneficiaries. The loans are expected to be disbursed starting mid-June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Current data indicates that about 220 projects have scored more than 50 points. Gupta emphasized that the total budget for this program is Rs 25 million. A list of entrepreneurs will be prepared within this budget, and loans will be provided to the projects scoring more than 50 points.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, some projects require loans up to Rs 2.5 million. The government policy allows for concessional loans up to a maximum of Rs 2.5 million per startup enterprise. The disbursement of this amount will be based on the project's needs and demands and will be provided in installments. The second and third installments will be given only after verifying the utilization of the previous installment by visiting the project site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government will provide these loans according to the 'Startup Enterprise Loan Operation Procedure-2080' issued on January 25. The IEDI has designated 16 different areas for these loans, and entrepreneurs whose businesses were registered less than 7 years are eligible. Eligible sectors include agriculture and forestry, tourism promotion and entertainment, hospitality, science and technology, information and communication, human health services, education, transportation services, automobiles, renewable energy, climate change mitigation, and more.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Projects for such loans have been submitted from various districts, including Sankhuwasabha, Kathmandu, Bhaktapur, Lalitpur, Kavrepalanchok, Dhading, Chitwan, Nuwakot, Rasuwa, Morang, Sunsari, Kailali, Lamjung, Gorkha, Arghakhanchi, Kaski, Bara, Achham, Dang, Bajura, Baitadi, Jhapa, Banke, Makwanpur, Humla, Darchula, Kalikot, Salyan, Panchthar, Gulmi, Saptari, and Pyuthan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20894', 'image' => '20240603030232_startup.jpg', 'article_date' => '2024-06-03 15:01:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21166', 'article_category_id' => '1', 'title' => 'Former Finance Minister Mahat Calls for Ramping up Investment in Productive Sector ', 'sub_title' => '', 'summary' => 'KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the annual estimations of revenues and expenditures for the fiscal year 2024-25 in the lower house of the Federal Parliament on Sunday, Mahat said that the failure to invest in the productive sector will impede the nation's economic growth.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Production and employment cannot be increased, nor can revenue, if loans are not used to invest in productive sectors. As a result, the state's debt burden increases, leading to a cycle of taking more loans to repay existing ones,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat expressed his objections to the budget, saying that the budgetary appropriations for the next fiscal year in it were 'scattered'. He argued that the budget should be pro-people than party-oriented and the allocated budget should be spend on the basis of prioritization. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said although the size of the budget has increased, the country's economic development cannot be achieved if it is not spent in a systematic manner. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">“The government is struggling to generate revenue because financial resources are not spent in productive sectors, and this has also failed to create jobs. The budget allocations for the next fiscal year have not been prioritized or apportioned based on need,” he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating the budget allocated for the Ministry of Industry and Supplies is inadequate, he criticized the budget because the allocations have been made in such a way that they will be spent in unproductive sectors than in the productive ones. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former finance minister stressed on being sensitive on the topic of mobilization and spending of financial resources. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The budget for the upcoming fiscal year has not been able to navigate a concrete direction. Investment has been made, we have been collecting taxes, but the production has not increased. It is necessary to find a solution to these problems," he pointed out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the state's foreign debt has been going up and the debt burden of loans taken from the private sector is accumulating, he said that the government has not been able to generate revenue as expected revenue and this has led to a decline in the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat said the depositors of cooperatives have been facing problem in recent days due to the fraud cases and demanded taking stern legal action against individuals who spent the savings of the cooperatives against the cooperatives laws. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20893', 'image' => '20240603015648_20230705054200_collage (14).jpg', 'article_date' => '2024-06-03 13:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21180', 'article_category_id' => '1', 'title' => 'Price of Gold Soars by Rs 1,700 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the price of the precious yellow metal had set an all-time high record of Rs 142,200 per tola (11.66 grams) in the domestic market on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold is being traded at Rs 142,700 per tola against Rs 141,000 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the federation has fixed the price of worked gold at Rs 142,000 per tola. It was traded at Rs 140,000 on Monday. </span><br /> The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</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"">Likewise, the price of silver has gone up by Rs 25 per tola and has been fixed at Rs 1,860 on Tuesday against Rs 1,835 the previous day. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20907', 'image' => '20240604064715_20240531012532_gold newwww.jpg', 'article_date' => '2024-06-04 18:46:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21179', 'article_category_id' => '1', 'title' => 'NEPSE Gains 6.22 Points, Settles at 2085.30', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 4: The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 315 scrips were traded on the NEPSE through 53,999 transactions. A total of 8,305,786 units of shares changed hands, resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with a total transaction of Rs 20 crore. Global IME Laghubitta Bittiya Sanstha Limited (GILB) gained 10% and hit the positive circuit for the day. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) faced the maximum loss of 5.51%, closing at a market price of Rs 635 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in green territory except for the Hydropower Index, Mutual Fund Index, and Others Index. The Trading Index gained the most at 2.70%, while the Hydropower Index incurred the biggest loss of 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20906', 'image' => '20240604045224_collage (6).jpg', 'article_date' => '2024-06-04 16:50:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21178', 'article_category_id' => '1', 'title' => 'Iceland Marks Inauguration of New Consulate in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Issuing a statement on Tuesday, the consulate said that an event was held at the Hotel Yak and Yeti to mark the inauguration as well as the appointment of Vidushi Rana as the new honorary consul of the Republic of Iceland.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">According to the statement, the event was graced by distinguished personalities and dignitaries from various sectors, “reflecting the importance of this diplomatic milestone”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Minister for Industry, Commerce, and Supplies, Damodar Bhandari, was the chief guest of the event. Iceland’s ambassador to Nepal Gudni Bragason also attended the event as a special guest, underscoring the strengthening bilateral relations between Nepal and Iceland, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event was also attended by several Members of Parliament as well as foreign ambassadors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Vidushi Rana, in her capacity as the new honorary consul, expressed her gratitude and commitment to fostering stronger relations between Nepal and Iceland. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">She highlighted the mutual benefits of enhanced diplomatic and economic ties and looked forward to her role in promoting cultural and commercial exchanges between the two nations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">“The inauguration of the new consulate premises in Kathmandu signifies a new chapter in Nepal-Iceland relations, aimed at facilitating smoother diplomatic interactions and promoting bilateral cooperation,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event concluded with a reception, allowing guests to network and discuss future collaborative opportunities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Rana was appointed as the honorary consul of Iceland on January 4.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20905', 'image' => '20240604043158_Inauguration- 8.jpg', 'article_date' => '2024-06-04 16:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21177', 'article_category_id' => '1', 'title' => 'Settlement of Coronavirus Insurance Claims worth Rs 11.5 Billion becomes Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance. However, it is still not certain whether the insured will get paid due to confusion regarding who shall pay the amount promised by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The people in general infected with the novel corona virus (Covid-19) are liable to receive about Rs 11.5 billion in insurance claims. However, the process of settling the claims has become uncertain as the OAG in its report pointed out that it is not appropriate for the government to pay such a large amount on the basis of a secretary-level decision.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to the report prepared by the Office of the Auditor General, as of mid-June 2079, the government has released Rs 6.10 billion for coronavirus insurance while it is yet to settle claims worth Rs 11.34 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The report has also instructed the Nepal Insurance Authority to get the payment done by the insurance companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Surya Prasad Silwal, chairman of the authority, said that the government cannot shy away from its responsibility. He argued that the coronavirus insurance policy was issued with the consent of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">"I have not read what the Office of the Auditor General has written in its report," he said, "But the government cannot get away from the responsibility to bear the cost of coronavirus insurance."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The government has not yet made a formal decision not to bear the responsibility of settling the claims of coronavirus insurance. Last October, the government has released Rs 1 billion for settling the claims. After that, no additional amount has been released.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The Office of the Auditor General has mentioned in its audit report of the last fiscal year that the decision of the Government of Nepal to bear the unlimited liability of coronavirus insurance is not appropriate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Insurance companies have also prepared to file a case against the government for the delay in releasing the payments as promised. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Immediately after the start of the Covid-19 pandemic, the then Insurance Board (currently Nepal Insurance Authority) issued instructions to the insurance companies to sell coronavirus insurance in March 2076. Following the instruction, the non-life insurance companies started selling insurance policies for which the government has promised to reimburse the amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As the number of infected people increased, the companies tried to stop issuing the insurance policy within three months. However, since the Ministry of Finance assured the insurers by announcing that that the government would provide the insurance amount through the budget, the insurance companies gave continuity to the scheme. However, the government has been dilly-dallying in releasing the pledged amount.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20904', 'image' => '20240604022815_20200525021952_Adobegermumbrella.jpg', 'article_date' => '2024-06-04 14:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21175', 'article_category_id' => '1', 'title' => 'Airline Passengers, Revenues to Hit Record Highs in 2024 ', 'sub_title' => '', 'summary' => 'DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. </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"">IATA also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expected profit "is a great achievement considering the recent deep pandemic losses", IATA director general Willie Walsh told the trade body's annual general meeting in Dubai. "Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important," he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airline industry's total revenues are expected to rise nearly 10 percent to $996 billion this year, another record high, IATA said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The industry body, which includes more than 300 airlines accounting for 83 percent of global traffic, is holding its 80th AGM in the United Arab Emirates financial hub. </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"">Despite the strong figures, airlines are also facing a sharp rise in costs due to shortages of parts and labour and challenges related to climate change. </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"">Their total expenses are also expected to hit a record high this year, climbing 9.4 percent to $936 billion, IATA said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20903', 'image' => '20240604125617_airlines-1137400812.jpg', 'article_date' => '2024-06-04 12:55:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21176', 'article_category_id' => '1', 'title' => 'Car Rally to Dapcha to Promote Heritage Site', 'sub_title' => '', 'summary' => 'KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.</span></p> <p><span style="font-size:18px">Issuing a recent statement, the association said that the rally that started from Kathmandu on Friday ended at Dapcha via Banepa, Panauti, and Namobuddha.</span></p> <p><span style="font-size:18px">“The rally started from Lazimpat-based Dusit Princess after having a wonderful breakfast hosted by the hotel. The main host of the rally was Hotel Dusit Thani Himalayan Resort, Dhulikhel where all the participants were accommodated with lunch and dinner,” the statement reads.</span></p> <p><span style="font-size:18px">According to the statement, the rally was attended by 36 participants (Skal members) using 25 vehicles.</span></p> <p><span style="font-size:18px">The main objective of the car rally is to showcase the historical and medieval town of Dapcha to help preserve its dying heritage, added the statement.</span></p> <p><span style="font-size:18px">An interaction program was also organized at Dusit Thani Himalayan resort, said the organisers.</span></p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20902', 'image' => '20240604011658_Pic 7.jpg', 'article_date' => '2024-06-04 13:16:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21174', 'article_category_id' => '1', 'title' => 'Over 1.8 Million People Likely to be Affected in Monsoon this Year ', 'sub_title' => '', 'summary' => 'KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the details released by the NDRRMA on Monday, more than 1.8 million people might be affected during this year's monsoon following the expectation of more rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA Spokesperson Dr Disan Bhattarai shared that more than 1.8 million people of 412,000 households would likely be affected in different ways during the monsoon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A situation might surface where 83,000 families would be directly affected and 18,000 households need to be rescued and provided with relief, NDRRMA said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last year, it was estimated that 1.2 million people would be affected by the monsoon while more than two million people were affected. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Meteorology and Hydrology has already forecast that there is possibility of 35-55 per cent more rainfall than average rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Bhattarai mentioned that all the responsible agencies have already been directed to carry out necessary preparations considering higher risk this time. The preparedness work is being done in accordance with the monsoon preparedness and response national action plan developed by the Home Ministry. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20901', 'image' => '20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-04 11:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21173', 'article_category_id' => '1', 'title' => 'KMC Arranges 374 Beds for Helpless at 52 Hospitals ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private hospitals are obliged to allocate a minimum of 10 percent beds for free treatment to the helpless people as per KMC's edict. </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"">Public health inspector at the health department of KMC, Dhanendra Shrestha, informed that 70 patients have so far benefitted from the scheme launched in February. Most of those receiving the service are from out of the capital city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the private hospitals flouted legal provisions, the KMC introduced a free treatment work procedure, 2080 and enforced its strict implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has also arranged a system where the availability of beds, treatment services and other schemes at private hospitals can be checked online. </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"">Shrestha further informed that most of the patients receiving treatment under this scheme are suffering from ear, nose and throat (ENT) problems, and kidney disease, while some are having respiratory and eye problems. </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"">One can dial KMC’s hotline number 1180 to receive information about the treatment or for the service. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20900', 'image' => '20240604105140_20230830033211_Hospital.jpg', 'article_date' => '2024-06-04 10:51:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21172', 'article_category_id' => '1', 'title' => 'NIC Asia Bank Receives ‘Infosys Finacle Innovation Awards 2024’', 'sub_title' => '', 'summary' => 'NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 4: NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank received the ‘Channel Innovation Platinum’ award for 2024, an accolade given annually by the international service provider ‘Infosys Finacle’.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NIC Asia Bank won this award in the innovation category, competing against 200 applicants across 10 categories. The award was given in recognition of its innovative and outstanding product, iServe, which enhances Nepal's digital banking services and provides international-level online banking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">iServe is the top digital platform introduced by the bank in Nepal. It offers the convenience of using digital banking services from home or office, eliminating the need to visit the bank’s branch office physically.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank believes that this recognition will help further refine its digital services and reach more customers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20899', 'image' => '20240604083825_collage (21).jpg', 'article_date' => '2024-06-04 08:36:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21171', 'article_category_id' => '1', 'title' => 'Upper House Members Air Mixed Views on Budget ', 'sub_title' => '', 'summary' => 'KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Airing their views during the general deliberations on the estimations of the government's income and expenditure for the upcoming fiscal year on Monday, Kamala Panta said the implementation of the budget is challenging when it is warranted to revive the economy finding ways to address the economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Questioning over the exclusion of the matters about observing the year 2024 as a tourism year, the lawmaker said she wanted to be clear whether the government moved back from its commitments regarding the celebrations of the tourism year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maya Prasad Sharma said the budget suggests a realistic approach. "The policies, programmes, and the budget speech for the upcoming fiscal year are capable of building a vibrant atmosphere," hoping for effective implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharada Devi Bhatta said the budget to some extent is balanced and suggests vibrancy. "Budget should be civic-centered," she said, welcoming the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayantidevi Rai said the budget is principally seen as highly positive, but the implementation side is challenging. Announcements to promote investment in agriculture and domestic production are encouraging, she said. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Budget ambitious, challenges in implementation </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upper house member Puja Chaudhary termed the budget an ambitious one. "The budget is much more ambitious," she said drawing the government to increase employees' payroll as well bearing in mind the increasing price rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Tul Prasad Bishwakarma said the budget this time has been able to raise hope among the people more than the previous one. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the government's announcement to observe the upcoming decade as the decade for investment in the agricultural sector, the budget size for the agricultural sector in the next fiscal year reduced, he said. He was of the opinion that the budget should gradually minimize the size of foreign debt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anjan Shakya said the budget is overall balanced and realistic. Questioning about potential sources for managing capital for the private sector, Shakya said banks and financial institutions are unable to expand loan facilities for the private sector due to various policy-level issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nar Bahadur Bist called for implementing the commitments to promoting cannabis farming for medicinal use with the help of a law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Bahadur Pariyar said that overall the budget has addressed all sectors while Sonam Geljen Sherpa and Gomadevi Timilsina said though the budget is people-centered, challenges for its implementation loom large. -- RSS</span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20898', 'image' => '20240603064444_20240514115805_Parliament.jpg', 'article_date' => '2024-06-03 18:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21170', 'article_category_id' => '1', 'title' => 'Budget Receives Mixed Reactions from Lawmakers', 'sub_title' => '', 'summary' => 'KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Taking part in general deliberations on the estimations of the government's income and expenditure for the fiscal year 2024-25 in a meeting of the House of Representatives on Monday, Ashok Kumar Chaudhary of Rastriya Swatantra Party said the budget is not realistic. Accusing the government of overlooking the sports sector in the budget speech, he also demanded a substantive approach to promote the agricultural sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to Sher Bahadur Kunwar of the CPN (Unified Socialist), the budget, introduced amid an economic slowdown, is expected to encounter implementation challenges. "On the one hand, the capital deficit persists, while on the other, the capital flight looms large. Our primary focus should be on managing the capital crisis."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Gyan Bahadur Shahi of Rastriya Prajatantra Party said the budget is expected to focus more on job creation and the development of the agriculture sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">He proposed to implement a separate provision for the development of the mountain region as only two months Baisakh (mid-April to mid-May) and Jestha (mid- May to mid-June June) are favorable for undertaking development endeavors in the region. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20897', 'image' => '20240603062956_KRB-KTM-21image_123650291(1)copy.JPG', 'article_date' => '2024-06-03 18:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21169', 'article_category_id' => '1', 'title' => 'NEPSE Sheds Minimal 3.97 Points, Closes at 2079.07', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px">May 3: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.</span></p> <p><span style="font-size:20px">During today’s trading session, 316 scrips were traded on the NEPSE through 59,295 transactions. A total of 8,820,125 units of shares changed hands, resulting in a total turnover of Rs 4 billion.</span></p> <p><span style="font-size:20px">NRN Infrastructure and Development Limited (NRN) led the turnover amount with total transactions worth Rs 14 crores. Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the highest gain of 9.66%, closing at a market price of Rs 670 per share.</span></p> <p><span style="font-size:20px">Conversely, NIBL Stable Fund (NIBLSTF) witnessed the highest loss of 10% and hit the negative circuit for the day.</span></p> <p><span style="font-size:20px">In terms of sector indices, all sectors closed in negative territory except the Microfinance Index, while the Finance Index remained unchanged. The Microfinance Index gained the most at 2.43%, while the Manufacturing and Processing Index lost the most at 1.05%.</span><br /> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20896', 'image' => '20240603033450_collage (20).jpg', 'article_date' => '2024-06-03 15:17:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21168', 'article_category_id' => '1', 'title' => 'Local-Level Representatives Protest Federal Government’s Decision to Cut Grants', 'sub_title' => '', 'summary' => 'KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the federal government reduced the fiscal equalization grant due to low revenue collection and resource crunch, local-level representatives staged a protest in front of the Ministry of Finance on Sunday. The Council of Ministers meeting on February 8 had decided to reduce the fiscal equalization grant for the last installment of the current year by 25.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives stated that the reduction of the equalization grant has affected development and construction work in the rural municipalities as they have limited resources. Most of the municipalities rely heavily on resources provided by the central government for their budgets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives demanded the federal government to reverse the grant cut, calling it unconstitutional, and correct this decision within one week. Representatives from the National Association of Rural Municipalities in Nepal and the Municipal Association of Nepal, who participated in the demonstration outside the Ministry of Finance, warned that if they do not receive the grant within the specified period, they will shut down the local governments across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to them, projects have been affected due to the lack of disbursement of Rs 24.48 billion under equalization grant this year. On May 20, a joint meeting of both the associations decided to meet with the Prime Minister, Minister of Finance, and Chief Whips of all political parties to demand the immediate disbursement of the stalled equalization grant. Consequently, the local level united in protest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhim Prasad Dhungana, president of the Municipal Association of Nepal, said that the federal government has not sent the full amount of the fiscal equalization grant due for the last installment and has made further cuts in the new budget. "We feel that the government has cheated us," he told New Business Age. "We want to have a meaningful conversation with the federal government. Now we will not stay silent."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite calling for the correction of the decision made some months ago, Dhungana stated that they had to resort to protest as they did not receive any response from the federal government. Last year, the federal government also cut the subsidy but had to back down after strong protests. Dhungana noted that the same unconstitutional attitude is being displayed by the central government now, and they will not back down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Laxmi Devi Pandey, president of the National Association of Rural Municipalities in Nepal, said that since the grant supposed to be sent to the villages was not sent, she had to come to Kathmandu. "We are meeting the finance minister and the prime minister," she said. "The federal government's decision to cut the grant amount is not acceptable."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government sends four types of grants to the local levels: Equalization, Conditional, Special, and Supplementary. People's representatives said that most municipalities rely on subsidies, so cutting the budget will affect municipal operations. The Ministry of Finance stated that the fiscal equalization grant has been reduced due to resource crunch resulting from low revenue collection this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite pressure from local-level representatives, Uttar Kumar Khatri, Joint Secretary and Head of the Planning Division at the Ministry of Finance, stated that resources cannot be provided as demanded. "The government was unable to raise resources according to the target, so it had to cut the fiscal equalization grant to the local level," Khatri said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government has allocated Rs 567 billion for the upcoming fiscal year to the state and local levels under various headings, which is less than the current year. The revenue to be transferred to state and local levels will be less next year compared to the current year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20895', 'image' => '20240603032027_20230227084256_Grants-April-2019.jpg', 'article_date' => '2024-06-03 15:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21167', 'article_category_id' => '1', 'title' => 'Demand for Concessional Loans for Startup Enterprises Exceeds Allocated Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs. However, the total investment requested by startup projects seeking loans exceeds the government's budget allocation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To assist aspiring startup entrepreneurs, the government introduced a plan to provide loans at a 3 percent interest rate with project mortgages. According to the plan, the estimated investment for 335 selected projects is Rs 36 million. Umesh Kumar Gupta, Executive Director of the Industrial Enterprise Development Institute, confirmed that the investment projects have been selected for the loans. The IEDI invited interested startup entrepreneurs to submit projects by February 2. Within 21 days, 1,658 projects were registered for loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Although the number of proposals was significant, only a few projects were shortlisted for loans. Initially, 394 projects were selected. The IEDI arranged for these shortlisted entrepreneurs to present their business plans from May 3 to 16. Out of them, 335 entrepreneurs presented their business plans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Gupta stated that the IEDI has forwarded these plans to the Rastriya Banijya Bank for credit appraisal. During this process, the bank evaluates the startup's current business state, its ability to repay the loan, and other financial conditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entrepreneurs who scored more than 50 points in various categories during the presentation will receive loans from the Rastriya Banijya Bank. Gupta mentioned that the final list of approved projects would be completed in 2-3 days, after which it will be submitted to the bank for loan recommendations. He also noted that the loans would be disbursed from the Rastriya Banijya Bank's branch offices in the respective districts, making it more convenient for the beneficiaries. The loans are expected to be disbursed starting mid-June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Current data indicates that about 220 projects have scored more than 50 points. Gupta emphasized that the total budget for this program is Rs 25 million. A list of entrepreneurs will be prepared within this budget, and loans will be provided to the projects scoring more than 50 points.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, some projects require loans up to Rs 2.5 million. The government policy allows for concessional loans up to a maximum of Rs 2.5 million per startup enterprise. The disbursement of this amount will be based on the project's needs and demands and will be provided in installments. The second and third installments will be given only after verifying the utilization of the previous installment by visiting the project site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government will provide these loans according to the 'Startup Enterprise Loan Operation Procedure-2080' issued on January 25. The IEDI has designated 16 different areas for these loans, and entrepreneurs whose businesses were registered less than 7 years are eligible. Eligible sectors include agriculture and forestry, tourism promotion and entertainment, hospitality, science and technology, information and communication, human health services, education, transportation services, automobiles, renewable energy, climate change mitigation, and more.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Projects for such loans have been submitted from various districts, including Sankhuwasabha, Kathmandu, Bhaktapur, Lalitpur, Kavrepalanchok, Dhading, Chitwan, Nuwakot, Rasuwa, Morang, Sunsari, Kailali, Lamjung, Gorkha, Arghakhanchi, Kaski, Bara, Achham, Dang, Bajura, Baitadi, Jhapa, Banke, Makwanpur, Humla, Darchula, Kalikot, Salyan, Panchthar, Gulmi, Saptari, and Pyuthan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20894', 'image' => '20240603030232_startup.jpg', 'article_date' => '2024-06-03 15:01:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21166', 'article_category_id' => '1', 'title' => 'Former Finance Minister Mahat Calls for Ramping up Investment in Productive Sector ', 'sub_title' => '', 'summary' => 'KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the annual estimations of revenues and expenditures for the fiscal year 2024-25 in the lower house of the Federal Parliament on Sunday, Mahat said that the failure to invest in the productive sector will impede the nation's economic growth.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Production and employment cannot be increased, nor can revenue, if loans are not used to invest in productive sectors. As a result, the state's debt burden increases, leading to a cycle of taking more loans to repay existing ones,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat expressed his objections to the budget, saying that the budgetary appropriations for the next fiscal year in it were 'scattered'. He argued that the budget should be pro-people than party-oriented and the allocated budget should be spend on the basis of prioritization. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said although the size of the budget has increased, the country's economic development cannot be achieved if it is not spent in a systematic manner. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">“The government is struggling to generate revenue because financial resources are not spent in productive sectors, and this has also failed to create jobs. The budget allocations for the next fiscal year have not been prioritized or apportioned based on need,” he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating the budget allocated for the Ministry of Industry and Supplies is inadequate, he criticized the budget because the allocations have been made in such a way that they will be spent in unproductive sectors than in the productive ones. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former finance minister stressed on being sensitive on the topic of mobilization and spending of financial resources. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The budget for the upcoming fiscal year has not been able to navigate a concrete direction. Investment has been made, we have been collecting taxes, but the production has not increased. It is necessary to find a solution to these problems," he pointed out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the state's foreign debt has been going up and the debt burden of loans taken from the private sector is accumulating, he said that the government has not been able to generate revenue as expected revenue and this has led to a decline in the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat said the depositors of cooperatives have been facing problem in recent days due to the fraud cases and demanded taking stern legal action against individuals who spent the savings of the cooperatives against the cooperatives laws. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20893', 'image' => '20240603015648_20230705054200_collage (14).jpg', 'article_date' => '2024-06-03 13:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21180', 'article_category_id' => '1', 'title' => 'Price of Gold Soars by Rs 1,700 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The price of gold increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Tuesday to reach an all-time high of Rs 142,700. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the price of the precious yellow metal had set an all-time high record of Rs 142,200 per tola (11.66 grams) in the domestic market on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold is being traded at Rs 142,700 per tola against Rs 141,000 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the federation has fixed the price of worked gold at Rs 142,000 per tola. It was traded at Rs 140,000 on Monday. </span><br /> The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</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"">Likewise, the price of silver has gone up by Rs 25 per tola and has been fixed at Rs 1,860 on Tuesday against Rs 1,835 the previous day. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20907', 'image' => '20240604064715_20240531012532_gold newwww.jpg', 'article_date' => '2024-06-04 18:46:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21179', 'article_category_id' => '1', 'title' => 'NEPSE Gains 6.22 Points, Settles at 2085.30', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 4: The Nepal Stock Exchange (NEPSE) index witnessed a growth of 6.22 points, or 0.29%, closing at 2,085.30 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 315 scrips were traded on the NEPSE through 53,999 transactions. A total of 8,305,786 units of shares changed hands, resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with a total transaction of Rs 20 crore. Global IME Laghubitta Bittiya Sanstha Limited (GILB) gained 10% and hit the positive circuit for the day. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) faced the maximum loss of 5.51%, closing at a market price of Rs 635 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in green territory except for the Hydropower Index, Mutual Fund Index, and Others Index. The Trading Index gained the most at 2.70%, while the Hydropower Index incurred the biggest loss of 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20906', 'image' => '20240604045224_collage (6).jpg', 'article_date' => '2024-06-04 16:50:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21178', 'article_category_id' => '1', 'title' => 'Iceland Marks Inauguration of New Consulate in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">KATHMANDU: The Republic of Iceland has inaugurated its new consulate in Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Issuing a statement on Tuesday, the consulate said that an event was held at the Hotel Yak and Yeti to mark the inauguration as well as the appointment of Vidushi Rana as the new honorary consul of the Republic of Iceland.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">According to the statement, the event was graced by distinguished personalities and dignitaries from various sectors, “reflecting the importance of this diplomatic milestone”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Minister for Industry, Commerce, and Supplies, Damodar Bhandari, was the chief guest of the event. Iceland’s ambassador to Nepal Gudni Bragason also attended the event as a special guest, underscoring the strengthening bilateral relations between Nepal and Iceland, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event was also attended by several Members of Parliament as well as foreign ambassadors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Vidushi Rana, in her capacity as the new honorary consul, expressed her gratitude and commitment to fostering stronger relations between Nepal and Iceland. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">She highlighted the mutual benefits of enhanced diplomatic and economic ties and looked forward to her role in promoting cultural and commercial exchanges between the two nations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">“The inauguration of the new consulate premises in Kathmandu signifies a new chapter in Nepal-Iceland relations, aimed at facilitating smoother diplomatic interactions and promoting bilateral cooperation,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">The event concluded with a reception, allowing guests to network and discuss future collaborative opportunities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Arial,"sans-serif"">Rana was appointed as the honorary consul of Iceland on January 4.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20905', 'image' => '20240604043158_Inauguration- 8.jpg', 'article_date' => '2024-06-04 16:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21177', 'article_category_id' => '1', 'title' => 'Settlement of Coronavirus Insurance Claims worth Rs 11.5 Billion becomes Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">KATHMANDU: The Office of the Auditor General, an organization that audits the transactions of government agencies, has been repeatedly saying that it is the responsibility of the insurance companies to settle the claims of coronavirus insurance. However, it is still not certain whether the insured will get paid due to confusion regarding who shall pay the amount promised by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The people in general infected with the novel corona virus (Covid-19) are liable to receive about Rs 11.5 billion in insurance claims. However, the process of settling the claims has become uncertain as the OAG in its report pointed out that it is not appropriate for the government to pay such a large amount on the basis of a secretary-level decision.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to the report prepared by the Office of the Auditor General, as of mid-June 2079, the government has released Rs 6.10 billion for coronavirus insurance while it is yet to settle claims worth Rs 11.34 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The report has also instructed the Nepal Insurance Authority to get the payment done by the insurance companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Surya Prasad Silwal, chairman of the authority, said that the government cannot shy away from its responsibility. He argued that the coronavirus insurance policy was issued with the consent of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">"I have not read what the Office of the Auditor General has written in its report," he said, "But the government cannot get away from the responsibility to bear the cost of coronavirus insurance."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The government has not yet made a formal decision not to bear the responsibility of settling the claims of coronavirus insurance. Last October, the government has released Rs 1 billion for settling the claims. After that, no additional amount has been released.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The Office of the Auditor General has mentioned in its audit report of the last fiscal year that the decision of the Government of Nepal to bear the unlimited liability of coronavirus insurance is not appropriate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Insurance companies have also prepared to file a case against the government for the delay in releasing the payments as promised. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">Immediately after the start of the Covid-19 pandemic, the then Insurance Board (currently Nepal Insurance Authority) issued instructions to the insurance companies to sell coronavirus insurance in March 2076. Following the instruction, the non-life insurance companies started selling insurance policies for which the government has promised to reimburse the amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As the number of infected people increased, the companies tried to stop issuing the insurance policy within three months. However, since the Ministry of Finance assured the insurers by announcing that that the government would provide the insurance amount through the budget, the insurance companies gave continuity to the scheme. However, the government has been dilly-dallying in releasing the pledged amount.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20904', 'image' => '20240604022815_20200525021952_Adobegermumbrella.jpg', 'article_date' => '2024-06-04 14:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21175', 'article_category_id' => '1', 'title' => 'Airline Passengers, Revenues to Hit Record Highs in 2024 ', 'sub_title' => '', 'summary' => 'DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">DUBAI: Airlines are expecting to fly nearly five billion passengers in 2024, a new record beating the pre-Covid pandemic high, trade industry association IATA said on Monday. </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"">IATA also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expected profit "is a great achievement considering the recent deep pandemic losses", IATA director general Willie Walsh told the trade body's annual general meeting in Dubai. "Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important," he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airline industry's total revenues are expected to rise nearly 10 percent to $996 billion this year, another record high, IATA said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The industry body, which includes more than 300 airlines accounting for 83 percent of global traffic, is holding its 80th AGM in the United Arab Emirates financial hub. </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"">Despite the strong figures, airlines are also facing a sharp rise in costs due to shortages of parts and labour and challenges related to climate change. </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"">Their total expenses are also expected to hit a record high this year, climbing 9.4 percent to $936 billion, IATA said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20903', 'image' => '20240604125617_airlines-1137400812.jpg', 'article_date' => '2024-06-04 12:55:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21176', 'article_category_id' => '1', 'title' => 'Car Rally to Dapcha to Promote Heritage Site', 'sub_title' => '', 'summary' => 'KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Skal International Nepal, an association of travel and tourism professionals that encourages and creates a network of contacts around the world, organized a car rally from Kathmandu to Dapcha in Kavre last weekend with the objective of promoting the local heritage.</span></p> <p><span style="font-size:18px">Issuing a recent statement, the association said that the rally that started from Kathmandu on Friday ended at Dapcha via Banepa, Panauti, and Namobuddha.</span></p> <p><span style="font-size:18px">“The rally started from Lazimpat-based Dusit Princess after having a wonderful breakfast hosted by the hotel. The main host of the rally was Hotel Dusit Thani Himalayan Resort, Dhulikhel where all the participants were accommodated with lunch and dinner,” the statement reads.</span></p> <p><span style="font-size:18px">According to the statement, the rally was attended by 36 participants (Skal members) using 25 vehicles.</span></p> <p><span style="font-size:18px">The main objective of the car rally is to showcase the historical and medieval town of Dapcha to help preserve its dying heritage, added the statement.</span></p> <p><span style="font-size:18px">An interaction program was also organized at Dusit Thani Himalayan resort, said the organisers.</span></p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20902', 'image' => '20240604011658_Pic 7.jpg', 'article_date' => '2024-06-04 13:16:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21174', 'article_category_id' => '1', 'title' => 'Over 1.8 Million People Likely to be Affected in Monsoon this Year ', 'sub_title' => '', 'summary' => 'KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: More than 1.8 million people are likely to be affected by the monsoon this year, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the details released by the NDRRMA on Monday, more than 1.8 million people might be affected during this year's monsoon following the expectation of more rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA Spokesperson Dr Disan Bhattarai shared that more than 1.8 million people of 412,000 households would likely be affected in different ways during the monsoon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A situation might surface where 83,000 families would be directly affected and 18,000 households need to be rescued and provided with relief, NDRRMA said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last year, it was estimated that 1.2 million people would be affected by the monsoon while more than two million people were affected. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Meteorology and Hydrology has already forecast that there is possibility of 35-55 per cent more rainfall than average rainfall this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Bhattarai mentioned that all the responsible agencies have already been directed to carry out necessary preparations considering higher risk this time. The preparedness work is being done in accordance with the monsoon preparedness and response national action plan developed by the Home Ministry. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20901', 'image' => '20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-04 11:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21173', 'article_category_id' => '1', 'title' => 'KMC Arranges 374 Beds for Helpless at 52 Hospitals ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Kathmandu Metropolitan City (KMC) has arranged 374 beds at 52 hospitals for free treatment to helpless and poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private hospitals are obliged to allocate a minimum of 10 percent beds for free treatment to the helpless people as per KMC's edict. </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"">Public health inspector at the health department of KMC, Dhanendra Shrestha, informed that 70 patients have so far benefitted from the scheme launched in February. Most of those receiving the service are from out of the capital city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the private hospitals flouted legal provisions, the KMC introduced a free treatment work procedure, 2080 and enforced its strict implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has also arranged a system where the availability of beds, treatment services and other schemes at private hospitals can be checked online. </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"">Shrestha further informed that most of the patients receiving treatment under this scheme are suffering from ear, nose and throat (ENT) problems, and kidney disease, while some are having respiratory and eye problems. </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"">One can dial KMC’s hotline number 1180 to receive information about the treatment or for the service. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20900', 'image' => '20240604105140_20230830033211_Hospital.jpg', 'article_date' => '2024-06-04 10:51:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21172', 'article_category_id' => '1', 'title' => 'NIC Asia Bank Receives ‘Infosys Finacle Innovation Awards 2024’', 'sub_title' => '', 'summary' => 'NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 4: NIC Asia Bank Limited was honored with the prestigious ‘Infosys Finacle Innovation Awards 2024’ for its exceptional digital products in the country's banking and financial sector.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank received the ‘Channel Innovation Platinum’ award for 2024, an accolade given annually by the international service provider ‘Infosys Finacle’.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NIC Asia Bank won this award in the innovation category, competing against 200 applicants across 10 categories. The award was given in recognition of its innovative and outstanding product, iServe, which enhances Nepal's digital banking services and provides international-level online banking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">iServe is the top digital platform introduced by the bank in Nepal. It offers the convenience of using digital banking services from home or office, eliminating the need to visit the bank’s branch office physically.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank believes that this recognition will help further refine its digital services and reach more customers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-04', 'modified' => '2024-06-04', 'keywords' => '', 'description' => '', 'sortorder' => '20899', 'image' => '20240604083825_collage (21).jpg', 'article_date' => '2024-06-04 08:36:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21171', 'article_category_id' => '1', 'title' => 'Upper House Members Air Mixed Views on Budget ', 'sub_title' => '', 'summary' => 'KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: members of the National Assembly (NA) have insisted on an effective implementation of the budget for the fiscal year 2081-82 BS (2024-25). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Airing their views during the general deliberations on the estimations of the government's income and expenditure for the upcoming fiscal year on Monday, Kamala Panta said the implementation of the budget is challenging when it is warranted to revive the economy finding ways to address the economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Questioning over the exclusion of the matters about observing the year 2024 as a tourism year, the lawmaker said she wanted to be clear whether the government moved back from its commitments regarding the celebrations of the tourism year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maya Prasad Sharma said the budget suggests a realistic approach. "The policies, programmes, and the budget speech for the upcoming fiscal year are capable of building a vibrant atmosphere," hoping for effective implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharada Devi Bhatta said the budget to some extent is balanced and suggests vibrancy. "Budget should be civic-centered," she said, welcoming the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayantidevi Rai said the budget is principally seen as highly positive, but the implementation side is challenging. Announcements to promote investment in agriculture and domestic production are encouraging, she said. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Budget ambitious, challenges in implementation </span></strong><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upper house member Puja Chaudhary termed the budget an ambitious one. "The budget is much more ambitious," she said drawing the government to increase employees' payroll as well bearing in mind the increasing price rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Tul Prasad Bishwakarma said the budget this time has been able to raise hope among the people more than the previous one. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the government's announcement to observe the upcoming decade as the decade for investment in the agricultural sector, the budget size for the agricultural sector in the next fiscal year reduced, he said. He was of the opinion that the budget should gradually minimize the size of foreign debt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Anjan Shakya said the budget is overall balanced and realistic. Questioning about potential sources for managing capital for the private sector, Shakya said banks and financial institutions are unable to expand loan facilities for the private sector due to various policy-level issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nar Bahadur Bist called for implementing the commitments to promoting cannabis farming for medicinal use with the help of a law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Bahadur Pariyar said that overall the budget has addressed all sectors while Sonam Geljen Sherpa and Gomadevi Timilsina said though the budget is people-centered, challenges for its implementation loom large. -- RSS</span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20898', 'image' => '20240603064444_20240514115805_Parliament.jpg', 'article_date' => '2024-06-03 18:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21170', 'article_category_id' => '1', 'title' => 'Budget Receives Mixed Reactions from Lawmakers', 'sub_title' => '', 'summary' => 'KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Lawmakers have expressed mixed reactions to the budget announced for the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Taking part in general deliberations on the estimations of the government's income and expenditure for the fiscal year 2024-25 in a meeting of the House of Representatives on Monday, Ashok Kumar Chaudhary of Rastriya Swatantra Party said the budget is not realistic. Accusing the government of overlooking the sports sector in the budget speech, he also demanded a substantive approach to promote the agricultural sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to Sher Bahadur Kunwar of the CPN (Unified Socialist), the budget, introduced amid an economic slowdown, is expected to encounter implementation challenges. "On the one hand, the capital deficit persists, while on the other, the capital flight looms large. Our primary focus should be on managing the capital crisis."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Gyan Bahadur Shahi of Rastriya Prajatantra Party said the budget is expected to focus more on job creation and the development of the agriculture sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">He proposed to implement a separate provision for the development of the mountain region as only two months Baisakh (mid-April to mid-May) and Jestha (mid- May to mid-June June) are favorable for undertaking development endeavors in the region. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20897', 'image' => '20240603062956_KRB-KTM-21image_123650291(1)copy.JPG', 'article_date' => '2024-06-03 18:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21169', 'article_category_id' => '1', 'title' => 'NEPSE Sheds Minimal 3.97 Points, Closes at 2079.07', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px">May 3: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal loss of 3.97 points or 0.19%, closing at 2079.07 on the second trading day of the week on Monday.</span></p> <p><span style="font-size:20px">During today’s trading session, 316 scrips were traded on the NEPSE through 59,295 transactions. A total of 8,820,125 units of shares changed hands, resulting in a total turnover of Rs 4 billion.</span></p> <p><span style="font-size:20px">NRN Infrastructure and Development Limited (NRN) led the turnover amount with total transactions worth Rs 14 crores. Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the highest gain of 9.66%, closing at a market price of Rs 670 per share.</span></p> <p><span style="font-size:20px">Conversely, NIBL Stable Fund (NIBLSTF) witnessed the highest loss of 10% and hit the negative circuit for the day.</span></p> <p><span style="font-size:20px">In terms of sector indices, all sectors closed in negative territory except the Microfinance Index, while the Finance Index remained unchanged. The Microfinance Index gained the most at 2.43%, while the Manufacturing and Processing Index lost the most at 1.05%.</span><br /> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20896', 'image' => '20240603033450_collage (20).jpg', 'article_date' => '2024-06-03 15:17:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21168', 'article_category_id' => '1', 'title' => 'Local-Level Representatives Protest Federal Government’s Decision to Cut Grants', 'sub_title' => '', 'summary' => 'KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Local-level representatives are united against the federal government's decision to cut the fiscal equalization grant by 25 percent for the last installment of the current fiscal year (FY) 2080/81.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the federal government reduced the fiscal equalization grant due to low revenue collection and resource crunch, local-level representatives staged a protest in front of the Ministry of Finance on Sunday. The Council of Ministers meeting on February 8 had decided to reduce the fiscal equalization grant for the last installment of the current year by 25.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives stated that the reduction of the equalization grant has affected development and construction work in the rural municipalities as they have limited resources. Most of the municipalities rely heavily on resources provided by the central government for their budgets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Local representatives demanded the federal government to reverse the grant cut, calling it unconstitutional, and correct this decision within one week. Representatives from the National Association of Rural Municipalities in Nepal and the Municipal Association of Nepal, who participated in the demonstration outside the Ministry of Finance, warned that if they do not receive the grant within the specified period, they will shut down the local governments across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to them, projects have been affected due to the lack of disbursement of Rs 24.48 billion under equalization grant this year. On May 20, a joint meeting of both the associations decided to meet with the Prime Minister, Minister of Finance, and Chief Whips of all political parties to demand the immediate disbursement of the stalled equalization grant. Consequently, the local level united in protest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhim Prasad Dhungana, president of the Municipal Association of Nepal, said that the federal government has not sent the full amount of the fiscal equalization grant due for the last installment and has made further cuts in the new budget. "We feel that the government has cheated us," he told New Business Age. "We want to have a meaningful conversation with the federal government. Now we will not stay silent."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite calling for the correction of the decision made some months ago, Dhungana stated that they had to resort to protest as they did not receive any response from the federal government. Last year, the federal government also cut the subsidy but had to back down after strong protests. Dhungana noted that the same unconstitutional attitude is being displayed by the central government now, and they will not back down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Laxmi Devi Pandey, president of the National Association of Rural Municipalities in Nepal, said that since the grant supposed to be sent to the villages was not sent, she had to come to Kathmandu. "We are meeting the finance minister and the prime minister," she said. "The federal government's decision to cut the grant amount is not acceptable."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government sends four types of grants to the local levels: Equalization, Conditional, Special, and Supplementary. People's representatives said that most municipalities rely on subsidies, so cutting the budget will affect municipal operations. The Ministry of Finance stated that the fiscal equalization grant has been reduced due to resource crunch resulting from low revenue collection this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite pressure from local-level representatives, Uttar Kumar Khatri, Joint Secretary and Head of the Planning Division at the Ministry of Finance, stated that resources cannot be provided as demanded. "The government was unable to raise resources according to the target, so it had to cut the fiscal equalization grant to the local level," Khatri said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federal government has allocated Rs 567 billion for the upcoming fiscal year to the state and local levels under various headings, which is less than the current year. The revenue to be transferred to state and local levels will be less next year compared to the current year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20895', 'image' => '20240603032027_20230227084256_Grants-April-2019.jpg', 'article_date' => '2024-06-03 15:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21167', 'article_category_id' => '1', 'title' => 'Demand for Concessional Loans for Startup Enterprises Exceeds Allocated Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government has allocated Rs 25 million in the budget for the current fiscal year 2080/81 to support startup entrepreneurs. However, the total investment requested by startup projects seeking loans exceeds the government's budget allocation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To assist aspiring startup entrepreneurs, the government introduced a plan to provide loans at a 3 percent interest rate with project mortgages. According to the plan, the estimated investment for 335 selected projects is Rs 36 million. Umesh Kumar Gupta, Executive Director of the Industrial Enterprise Development Institute, confirmed that the investment projects have been selected for the loans. The IEDI invited interested startup entrepreneurs to submit projects by February 2. Within 21 days, 1,658 projects were registered for loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Although the number of proposals was significant, only a few projects were shortlisted for loans. Initially, 394 projects were selected. The IEDI arranged for these shortlisted entrepreneurs to present their business plans from May 3 to 16. Out of them, 335 entrepreneurs presented their business plans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Gupta stated that the IEDI has forwarded these plans to the Rastriya Banijya Bank for credit appraisal. During this process, the bank evaluates the startup's current business state, its ability to repay the loan, and other financial conditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Entrepreneurs who scored more than 50 points in various categories during the presentation will receive loans from the Rastriya Banijya Bank. Gupta mentioned that the final list of approved projects would be completed in 2-3 days, after which it will be submitted to the bank for loan recommendations. He also noted that the loans would be disbursed from the Rastriya Banijya Bank's branch offices in the respective districts, making it more convenient for the beneficiaries. The loans are expected to be disbursed starting mid-June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Current data indicates that about 220 projects have scored more than 50 points. Gupta emphasized that the total budget for this program is Rs 25 million. A list of entrepreneurs will be prepared within this budget, and loans will be provided to the projects scoring more than 50 points.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, some projects require loans up to Rs 2.5 million. The government policy allows for concessional loans up to a maximum of Rs 2.5 million per startup enterprise. The disbursement of this amount will be based on the project's needs and demands and will be provided in installments. The second and third installments will be given only after verifying the utilization of the previous installment by visiting the project site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government will provide these loans according to the 'Startup Enterprise Loan Operation Procedure-2080' issued on January 25. The IEDI has designated 16 different areas for these loans, and entrepreneurs whose businesses were registered less than 7 years are eligible. Eligible sectors include agriculture and forestry, tourism promotion and entertainment, hospitality, science and technology, information and communication, human health services, education, transportation services, automobiles, renewable energy, climate change mitigation, and more.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Projects for such loans have been submitted from various districts, including Sankhuwasabha, Kathmandu, Bhaktapur, Lalitpur, Kavrepalanchok, Dhading, Chitwan, Nuwakot, Rasuwa, Morang, Sunsari, Kailali, Lamjung, Gorkha, Arghakhanchi, Kaski, Bara, Achham, Dang, Bajura, Baitadi, Jhapa, Banke, Makwanpur, Humla, Darchula, Kalikot, Salyan, Panchthar, Gulmi, Saptari, and Pyuthan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20894', 'image' => '20240603030232_startup.jpg', 'article_date' => '2024-06-03 15:01:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21166', 'article_category_id' => '1', 'title' => 'Former Finance Minister Mahat Calls for Ramping up Investment in Productive Sector ', 'sub_title' => '', 'summary' => 'KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Member of the House of Representatives (HoR) and former Finance Minister, Dr Prakash Sharan Mahat, urged the government to increase investment in the productive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the annual estimations of revenues and expenditures for the fiscal year 2024-25 in the lower house of the Federal Parliament on Sunday, Mahat said that the failure to invest in the productive sector will impede the nation's economic growth.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Production and employment cannot be increased, nor can revenue, if loans are not used to invest in productive sectors. As a result, the state's debt burden increases, leading to a cycle of taking more loans to repay existing ones,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat expressed his objections to the budget, saying that the budgetary appropriations for the next fiscal year in it were 'scattered'. He argued that the budget should be pro-people than party-oriented and the allocated budget should be spend on the basis of prioritization. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said although the size of the budget has increased, the country's economic development cannot be achieved if it is not spent in a systematic manner. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">“The government is struggling to generate revenue because financial resources are not spent in productive sectors, and this has also failed to create jobs. The budget allocations for the next fiscal year have not been prioritized or apportioned based on need,” he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating the budget allocated for the Ministry of Industry and Supplies is inadequate, he criticized the budget because the allocations have been made in such a way that they will be spent in unproductive sectors than in the productive ones. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former finance minister stressed on being sensitive on the topic of mobilization and spending of financial resources. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The budget for the upcoming fiscal year has not been able to navigate a concrete direction. Investment has been made, we have been collecting taxes, but the production has not increased. It is necessary to find a solution to these problems," he pointed out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the state's foreign debt has been going up and the debt burden of loans taken from the private sector is accumulating, he said that the government has not been able to generate revenue as expected revenue and this has led to a decline in the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Mahat said the depositors of cooperatives have been facing problem in recent days due to the fraud cases and demanded taking stern legal action against individuals who spent the savings of the cooperatives against the cooperatives laws. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-03', 'modified' => '2024-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '20893', 'image' => '20240603015648_20230705054200_collage (14).jpg', 'article_date' => '2024-06-03 13:56:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
