NEWS

NRB study finds FDI-based cement industries more efficient, profitable than locally-owned producers

May 22, 2021 0 2 minutes 29 seconds to read

Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB)…

Demand for Cement Projected to Grow Double in the Next Five Years

May 23, 2021 0 1 minutes 44 seconds to read

May 23: Nepal Rastra Bank (NRB) has projected the country’s demand for cement go grow two folds in the next five years.…

Switzerland provides 30 tonnes of medical supplies worth $8 million to Nepal

May 22, 2021 0 1 minutes 40 seconds to read

…

President Dissolves House of Representatives Again

May 22, 2021 0 2 minutes 4 seconds to read

May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases.…

Oli and Deuba Stake Claim to the Post of Prime Minister

May 21, 2021 0 1 minutes 56 seconds to read

May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President’s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.…

PM Oli Gets Additional Portfolio of Seven Ministries

May 21, 2021 0 1 minutes 27 seconds to read

May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency…

Production of Sunsari-Morang Industrial Corridor Limited to 40%

May 21, 2021 0 3 minutes 16 seconds to read

May 21: Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down.…

Australia Announces $7 Million to Support Nepal’s COVID-19 Response

May 21, 2021 0 2 minutes 6 seconds to read

May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19.…

Seven Chartered Flights Operated in Last 10 Days

May 21, 2021 0 3 minutes 58 seconds to read

May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.…

MPs Given Deadline Until 5PM Today to Choose New Prime Minister

May 21, 2021 0 59 seconds to read

May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of…

CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus

May 21, 2021 0 1 minutes 48 seconds to read

May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of…

Five Companies Apply for License of Reinsurance Company

May 20, 2021 0 3 minutes 4 seconds to read

May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance…

SC Orders Government not to Fine Taxpayers during Lockdown

May 20, 2021 0 3 minutes 28 seconds to read

May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated…

NATTA urges Government to Facilitate Safe Return of Tourists

May 20, 2021 0 56 seconds to read

May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.…

Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia

May 19, 2021 0 56 seconds to read

May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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		'Article' => array(
			'id' => '13432',
			'article_category_id' => '1',
			'title' => 'NRB study finds FDI-based cement industries more efficient, profitable than locally-owned producers',
			'sub_title' => ' Govt advised to allow FDI in cement industries on condition that local investors also hold certain minimum percent equity',
			'summary' => 'Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found. ',
			'content' => '<p>May 22:&nbsp;Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found.&nbsp;</p>

<p>According to &lsquo;Foreign Direct Investment in Cement Industry in Nepal, A study on Socio-economic Impact&rsquo; by the NRB, the FDI-based cement industry uses 0.99 metric tons of limestone on average while the government-owned cement industry uses 1.45 metric tons to produce one ton of cement. Limestone is an important raw material used for cement manufacturing.&nbsp;</p>

<p>Another yardstick that the study used to compare the efficiency and profitability between FDI-based cement industries and locally owned cement industries is the production cost to the sales ratio. &nbsp;According to the finding, the production cost to the sales ratio of the FDI-based cement industry is about 46.63 percent compared to 48.95 percent and 82.18 percent of locally owned and government owned cement industry.&nbsp;<img alt="" src="/app/webroot/userfiles/images/FDI-based%20cement%20industries.JPG" style="float:right; height:344px; width:500px" /></p>

<p>&ldquo;The economies of scale owing to larger size and the superior technology of the FDI-based cement industries are the reasons behind their higher efficiency,&rdquo; read the report.&nbsp;</p>

<p>The study is based on a survey of seven out of 55 cement industries that are operational in Nepal. Three FDI-based, two government-owned and two locally owned cement industries were included in the survey. There are three FDI-based, two government owned and 50 locally and privately owned cement industries that are&nbsp;in operation in Nepal. &nbsp;Two FDI-based industries are currently under construction.&nbsp;</p>

<p>Though the financial and operational performances of the FDI-based industries have remained better compared to government and locally owned industries, their impact on social wellbeing and economic condition is mixed. &nbsp;&nbsp;</p>

<p>For example, around 57 percent of respondents in the survey agree that FDI-based cement industry has provided employment to local people compared to respondents for government owned (90 percent) and locally owned (60 percent), according to the study report. &nbsp;Similarly, respondents residing near cement industry who agree that the industry has contributed to infrastructure development are 37 percent for FDI based cement industry compared to 90 percent for the government-owned cement industry. In terms of air pollution under major negative externality which 92 percent of respondent agree with, FDI-based industries generate comparitively lower air pollution owing to their superior technology, according to the report.</p>

<p>The study report also recommended the government keep FDI in cement industries open, citing its role in bringing new technology into the country and promoting competition and&nbsp;forcing domestic industries to be more efficient.&nbsp;&ldquo;It is, however, better to allow FDI in cement industries only on condition that local investors also hold certain minimum percent equity in such industries.This would help in the transfer of both technical and managerial know-how from foreign investors to local stakeholders,&rdquo; the report added.&nbsp;</p>
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			'id' => '13433',
			'article_category_id' => '1',
			'title' => 'Demand for Cement Projected to Grow Double in the Next Five Years',
			'sub_title' => '',
			'summary' => 'May 23: Nepal Rastra Bank (NRB) has projected the country’s demand for cement go grow two folds in the next five years. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">May 23: Nepal Rastra Bank (NRB) has projected the country&rsquo;s demand for cement go grow two folds in the next five years. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Stating that big infrastructure projects are currently under-construction and new projects are also being implemented, the central bank has project the annual demand for cement in Nepal to rise to 25.8 million metric tons by 2025 AD.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Considering the Fiscal Year 2020/21 as the base year, the central bank has projected the demand for cement to grow continually in the next five years.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The annual demand for cement in the domestic market of Nepal is around 9 million metric tons at present. The production capacity of 55 cement industries of Nepal is said to be 15 million metric tons per year. However, all the cement industries are not operating in optimal capacity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Unveiling a report on Foreign Investment in Nepal&rsquo;s Cement Industry on May 21, the central bank said that the demand for cement is projected to grow as national pride projects such as the&nbsp; Gautam Buddha International Airport, Pokhara International Airport, are currently under construction and other big projects are also in the pipeline. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The study states that the demand for cement is expected to grow due to the projects that are in the offing such as Budhi Gandaki Hydropower Project, Upper Marshyangdi Hydropower Project (II), Kaligandaki George, among others. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The report also suggests opening more companies with foreign direct investment. It also suggests optimal use of limestone quarries of the country and to reduce import by bringing those quarries into operation. Another suggestion given by the report is export promotion.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2021-05-23',
			'modified' => '2021-05-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13177',
			'image' => '20210523113613_20150820120744_cn.jpg',
			'article_date' => '2021-05-23 11:35:29',
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		'Article' => array(
			'id' => '13431',
			'article_category_id' => '1',
			'title' => 'Switzerland provides 30 tonnes of medical supplies worth $8 million to Nepal ',
			'sub_title' => 'Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, according to Swiss Embassy in Nepal',
			'summary' => '',
			'content' => '<p>May 22:&nbsp;Switzerland has sent a consignment of essential medical supplies worth $8 million to Nepal in response to request from the Government of Nepal for the assistance in combatting the second wave of Covid-19.&nbsp;</p>

<p>Swiss Ambassador to Nepal Elisabeth von Capeller handed over medical supplies to Minister for Health and Population Hridayesh Tripathi on Saturday.</p>

<p>The 30-tonne&nbsp;shipment that arrived in Kathmandu on Saturday in a special cargo flight contains 40 ventilators, oxygen concentrators, 1.1 million rapid antigen tests and protective equipment (110&rsquo;000 KN95 masks, 50&rsquo;000 gloves and 15&rsquo;000 suits) medical assitance includes ventilators, oxygen concentrators and protective equipment, according to the Embassy of Switzerland in Nepal.&nbsp;</p>

<p>Issuing a statement, the Swiss Embassy said that the current shipment of essential medical supplies is part of Switzerland&rsquo;s comprehensive response to COVID-19 in Nepal, which started in April 2020.</p>

<p>Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, said the Embassy in its statement.&nbsp;</p>

<p>The ventilators, oxygen concentrators and protective equipment will reinforce the response of various hospitals in Nepal, whereas the antigen tests will allow for better monitoring and controlling of the spread of the virus, e.g. through rapid health screening, community level surveillance and early isolation of patients, according to the statement.&nbsp;</p>

<p>&nbsp;&ldquo;Switzerland stands in solidarity with Nepal and the Nepali people in the fight against the COVID-19 pandemic. These essential medical supplies will save lives and provide further support to the Government of Nepal to control and contain the pandemic&rdquo;, the statement quoted Elisabeth von Capeller, Swiss Ambassador to Nepal, as saying.</p>

<p>The Swiss Embassy has adapted its existing projects to ensure continuation of services during the COVID-19 pandemic and supported stranded migrants who lost their jobs in the destination countries with shelter, food, medical assistance, legal counselling and assistance for return, according to the statement.&nbsp;<br />
&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '13430',
			'article_category_id' => '1',
			'title' => 'President Dissolves House of Representatives Again',
			'sub_title' => 'Mid-term Elections Announced for November 12 and 19 ',
			'summary' => 'May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. President Bhandari took such decision upon the recommendation of the Council of Ministers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The elections have been announced for coming November 12 and 19, the state-owned national news agency RSS reported citing Minister for Communications and Information Technology Parbat Gurung. An emergency meeting of the cabinet was held after the President concluded that the claims made for formation of a new government as per Article 76 (5) of the Constitution did not fulfill the required criteria.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><br />
<span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Arial Unicode MS&quot;">Claims by Oli and Deuba not sufficient&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, President Bidya Devi Bhandari had concluded that the claims made by Prime Minister and CPN-UML Chair KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba to form the next government were not sufficient, RSS further reported. Prime Minister Oli had claimed support of 121 MPs of the ruling UML and 32 members of the Janata Samajbadi Party. However, 26 MPs of UML and 12 MPs of JSP backed NC President Deuba, according to a statement issued by the Office of the President.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">NC president Deuba had staked the claim over the new government leadership with signatures from 61 NC MPs, 49 CPN (Maoist Centre) MPs, 26 CPN-UML MPs and Janamorcha Nepal&#39;s Durga Poudel. However, chairs and parliamentary party leaders of UML and JSP had demanded that the signatures of their respective party MPs be rejected, adds the statement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As MPs were found repeated in the claims by the two leaders, and that MPs had supported one another going against the party&#39;s decision as claimed by the respective parties and considering Article 89 of the Constitution and Political Party Act, 2073, both did not show concrete ground to gain a vote of confidence, argues the statement issued by the President&rsquo;s Office for rejecting both the candidates.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
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			'article_date' => '2021-05-22 07:52:08',
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	(int) 4 => array(
		'Article' => array(
			'id' => '13429',
			'article_category_id' => '1',
			'title' => ' Oli and Deuba Stake Claim to the Post of Prime Minister ',
			'sub_title' => '',
			'summary' => 'May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President’s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President&rsquo;s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ruling party chair Oli has presented his claim for new prime minister with support from 153 members of the House of Representatives (HoR) while Nepali Congress (NC) President Deuba presented the claim for the country&rsquo;s highest executive position with the signatures of 149 HoR members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Incumbent Prime Minster Oli has claimed for the prime ministerial berth as per the Article 76(5) of the Constitution of Nepal with support from 153 HoR members including 121 of UML and 32 of Janata Samajwadi Party (JSP), his chief advisor Bishnu Rimal informed. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A letter of claim presented to this effect has been signed by Chairperson Mahantha Thakur and parliamentary party leader Rajendra Mahato on behalf of JSP and UML chair and parliamentary party leader Oli.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the other hand, Deuba registered his letter of claim with the signatures of 149 HoR members including 61 of NC, 49 of CPN (Maoist Center), 26 of CPN (UML) Madhav Nepal Group, 12 of Janata Samajwadi Party and one of Rastriya Janamorcha Nepal, informed NC chief whip Bal Krishna Khand.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deuba registered his claim for the new prime minster at the Office of the President on behalf of the opposition alliance as per the Article 76 (5) of the Constitution. The HoR has a total of 272 members. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that President Bidya Devi Bhandari had given the deadline up to 5.00 pm this evening (May 21) for the formation of a new government as per the Article 76 (5) of the Constitution. -- RSS&nbsp;&nbsp; </span></span></span></p>
',
			'published' => true,
			'created' => '2021-05-21',
			'modified' => '2021-05-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13174',
			'image' => '20210521084308_20160421102347_Clipboard07.jpg',
			'article_date' => '2021-05-21 20:42:28',
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	(int) 5 => array(
		'Article' => array(
			'id' => '13428',
			'article_category_id' => '1',
			'title' => ' PM Oli Gets Additional Portfolio of Seven Ministries ',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court on Thursday had issued an interim order that barred seven ministers who were not Members of Parliament (MPs) from performing their duties.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of Chief Justice Cholendra Shamsher Rana had also ruled the decision of Prime Minister Oli to retain those seven ministers in his cabinet as unconstitutional.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministers who were relived of their duties following the apex court order include Minister for Home Affairs Ram Bahadur Thapa, Minister for Energy, Water Resources and Irrigation Top Bahadur Rayamajhi, Minister for Industry, Commerce and Supplies Lekhraj Bhatta, Minister for Urban Development Prabhu Saha, Minister for Water Supply and Sanitation Mani Chandra Thapa, Minister for Labour, Employment and Social Security Gauri Shankar Chaudhary and the Minister for Youth and Sports Dawa Lama Tamang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The portfolio of those seven ministries has been assigned to Prime Minister Oli as per his recommendation, Assistant Spokesperson at the Office of the President, Keshav Prasad Ghimire, said in a press statement.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2021-05-21',
			'modified' => '2021-05-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13173',
			'image' => '20210521060344_20210509121210_1620516771.Clipboard12.jpg',
			'article_date' => '2021-05-21 18:03:01',
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	(int) 6 => array(
		'Article' => array(
			'id' => '13427',
			'article_category_id' => '1',
			'title' => 'Production of Sunsari-Morang Industrial Corridor Limited to 40%',
			'sub_title' => '',
			'summary' => 'May 21: Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:&quot;Times New Roman&quot;">Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. The restriction has been actively implementation since the past three weeks. Meanwhile, the production of the industries that are still operating has also declined by 40 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the production of industries that produce essential goods is 80 percent, other industries are producing a limited amount of products. Industrialists have claimed that if the government fails to address the problems of workers and market management, all of the industries would shut down within two weeks.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Sunasri-Morang Industrial Corridor comprises 500 industries of all scales. Fifty thousand workers are employed in these industries. Closing of 40 percent industries means complete closure of 200 industries. This means approximately 20 thousand workers have lost employment and are being compelled to stay at home without any source of income.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central member of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Rajendra Raut informed that the industries in operation have dropped their production to less than 50 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The industries requiring oxygen for operation are completely shut down while other industries as well have not been able to operate properly due to the closure of the market,&rdquo; said Raut.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In normal conditions, the industries of the corridor used to produce goods worth Rs 500 million on a daily basis..</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Altogether 50 industries including those that produce medicine, food grains and oxygen are still in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Export and import of the goods have also been greatly affected due to the closure of the industries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Suyash Pyakurel of Morang informed that less than 50 percent of industries are in operation in the Corridor. Due to the closure of the market, the consumption of manufactured goods has decreased and the existing industries are also cutting production by up to 60 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He also said that the state needs to take necessary measures to save the industry. He urged the government to bring a bigger relief package than the previous year as bank interest, salary of employees and other expenses will continue even if the industry is closed. According to the President of Morang Trade Association, Prakash Mundada, production and consumption have both declined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;The industry has cut production by 60 to 70 percent. As production declines, so does the employment of workers. He said that large industries in the corridor will also be closed within the next one week.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13426',
			'article_category_id' => '1',
			'title' => 'Australia Announces $7 Million to Support Nepal’s COVID-19 Response',
			'sub_title' => '',
			'summary' => 'May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s contribution will boost Nepal&rsquo;s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,&rdquo; read the statement issued on May 21.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,&rdquo; the statement quoted the Australian ambassador as saying.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '13171',
			'image' => '20210521023834_Flag-Pins-Ne.jpg',
			'article_date' => '2021-05-21 14:37:49',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13425',
			'article_category_id' => '1',
			'title' => 'Seven Chartered Flights Operated in Last 10 Days',
			'sub_title' => '',
			'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on&nbsp; 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, CAAN has approved three additional evacuation flights scheduled for &nbsp;May 22, 23, and 24.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Himalaya Airlines has expressed its concern over the allegation.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them,&quot; a press statement of the airlines reads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights,&quot; the statement further added.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '13424',
			'article_category_id' => '1',
			'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.',
			'content' => '<p><em>President Bidya Devi Bhandari.&nbsp; Photo Courtesy: Government of Nepal</em></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '13169',
			'image' => '20210521110826_Rt._Hon._President-819x1024.jpg',
			'article_date' => '2021-05-21 11:07:24',
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	(int) 10 => array(
		'Article' => array(
			'id' => '13423',
			'article_category_id' => '1',
			'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus',
			'sub_title' => '',
			'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '13168',
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			'article_date' => '2021-05-21 10:47:40',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13422',
			'article_category_id' => '1',
			'title' => 'Five Companies Apply for License of Reinsurance Company',
			'sub_title' => '',
			'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently only one state-owned &nbsp;reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;During the evaluation process, the company receiving the highest marks will get the license for operation,&quot; he added.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13421',
			'article_category_id' => '1',
			'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown    ',
			'sub_title' => '',
			'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown,&quot; the order states.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted,&quot;&nbsp; the order added.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19.&nbsp; However, the government has intensified tax collection, saying that it is in no hurry to make a decision.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any &nbsp;concern,&quot; said Malla.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>

<p>&nbsp;</p>
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			'image' => '20210520014546_20201127115547_20200417094838_CKC_ktm.jpg',
			'article_date' => '2021-05-20 13:45:06',
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			'id' => '13420',
			'article_category_id' => '1',
			'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists',
			'sub_title' => '',
			'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.     ',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19.&nbsp;&nbsp;&nbsp;&nbsp;<br />
NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp; </span></span></p>
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			'created' => '2021-05-20',
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			'sortorder' => '13165',
			'image' => '20210520114517_20200930115831_1601420205.89.jpg',
			'article_date' => '2021-05-20 11:44:13',
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			'id' => '13419',
			'article_category_id' => '1',
			'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia',
			'sub_title' => '',
			'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br />
Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal&rsquo;s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br />
The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br />
The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br />
The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br />
Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br />
It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2021-05-19 16:14:05',
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		'Article' => array(
			'id' => '13432',
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			'title' => 'NRB study finds FDI-based cement industries more efficient, profitable than locally-owned producers',
			'sub_title' => ' Govt advised to allow FDI in cement industries on condition that local investors also hold certain minimum percent equity',
			'summary' => 'Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found. ',
			'content' => '<p>May 22:&nbsp;Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found.&nbsp;</p>

<p>According to &lsquo;Foreign Direct Investment in Cement Industry in Nepal, A study on Socio-economic Impact&rsquo; by the NRB, the FDI-based cement industry uses 0.99 metric tons of limestone on average while the government-owned cement industry uses 1.45 metric tons to produce one ton of cement. Limestone is an important raw material used for cement manufacturing.&nbsp;</p>

<p>Another yardstick that the study used to compare the efficiency and profitability between FDI-based cement industries and locally owned cement industries is the production cost to the sales ratio. &nbsp;According to the finding, the production cost to the sales ratio of the FDI-based cement industry is about 46.63 percent compared to 48.95 percent and 82.18 percent of locally owned and government owned cement industry.&nbsp;<img alt="" src="/app/webroot/userfiles/images/FDI-based%20cement%20industries.JPG" style="float:right; height:344px; width:500px" /></p>

<p>&ldquo;The economies of scale owing to larger size and the superior technology of the FDI-based cement industries are the reasons behind their higher efficiency,&rdquo; read the report.&nbsp;</p>

<p>The study is based on a survey of seven out of 55 cement industries that are operational in Nepal. Three FDI-based, two government-owned and two locally owned cement industries were included in the survey. There are three FDI-based, two government owned and 50 locally and privately owned cement industries that are&nbsp;in operation in Nepal. &nbsp;Two FDI-based industries are currently under construction.&nbsp;</p>

<p>Though the financial and operational performances of the FDI-based industries have remained better compared to government and locally owned industries, their impact on social wellbeing and economic condition is mixed. &nbsp;&nbsp;</p>

<p>For example, around 57 percent of respondents in the survey agree that FDI-based cement industry has provided employment to local people compared to respondents for government owned (90 percent) and locally owned (60 percent), according to the study report. &nbsp;Similarly, respondents residing near cement industry who agree that the industry has contributed to infrastructure development are 37 percent for FDI based cement industry compared to 90 percent for the government-owned cement industry. In terms of air pollution under major negative externality which 92 percent of respondent agree with, FDI-based industries generate comparitively lower air pollution owing to their superior technology, according to the report.</p>

<p>The study report also recommended the government keep FDI in cement industries open, citing its role in bringing new technology into the country and promoting competition and&nbsp;forcing domestic industries to be more efficient.&nbsp;&ldquo;It is, however, better to allow FDI in cement industries only on condition that local investors also hold certain minimum percent equity in such industries.This would help in the transfer of both technical and managerial know-how from foreign investors to local stakeholders,&rdquo; the report added.&nbsp;</p>
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			'sortorder' => '13178',
			'image' => '20210522044854_Cement_FDI.jpg',
			'article_date' => '2021-05-22 16:46:45',
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			'id' => '13433',
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			'title' => 'Demand for Cement Projected to Grow Double in the Next Five Years',
			'sub_title' => '',
			'summary' => 'May 23: Nepal Rastra Bank (NRB) has projected the country’s demand for cement go grow two folds in the next five years. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">May 23: Nepal Rastra Bank (NRB) has projected the country&rsquo;s demand for cement go grow two folds in the next five years. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Stating that big infrastructure projects are currently under-construction and new projects are also being implemented, the central bank has project the annual demand for cement in Nepal to rise to 25.8 million metric tons by 2025 AD.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Considering the Fiscal Year 2020/21 as the base year, the central bank has projected the demand for cement to grow continually in the next five years.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The annual demand for cement in the domestic market of Nepal is around 9 million metric tons at present. The production capacity of 55 cement industries of Nepal is said to be 15 million metric tons per year. However, all the cement industries are not operating in optimal capacity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Unveiling a report on Foreign Investment in Nepal&rsquo;s Cement Industry on May 21, the central bank said that the demand for cement is projected to grow as national pride projects such as the&nbsp; Gautam Buddha International Airport, Pokhara International Airport, are currently under construction and other big projects are also in the pipeline. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The study states that the demand for cement is expected to grow due to the projects that are in the offing such as Budhi Gandaki Hydropower Project, Upper Marshyangdi Hydropower Project (II), Kaligandaki George, among others. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The report also suggests opening more companies with foreign direct investment. It also suggests optimal use of limestone quarries of the country and to reduce import by bringing those quarries into operation. Another suggestion given by the report is export promotion.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2021-05-23',
			'modified' => '2021-05-23',
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			'description' => '',
			'sortorder' => '13177',
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			'article_date' => '2021-05-23 11:35:29',
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		'Article' => array(
			'id' => '13431',
			'article_category_id' => '1',
			'title' => 'Switzerland provides 30 tonnes of medical supplies worth $8 million to Nepal ',
			'sub_title' => 'Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, according to Swiss Embassy in Nepal',
			'summary' => '',
			'content' => '<p>May 22:&nbsp;Switzerland has sent a consignment of essential medical supplies worth $8 million to Nepal in response to request from the Government of Nepal for the assistance in combatting the second wave of Covid-19.&nbsp;</p>

<p>Swiss Ambassador to Nepal Elisabeth von Capeller handed over medical supplies to Minister for Health and Population Hridayesh Tripathi on Saturday.</p>

<p>The 30-tonne&nbsp;shipment that arrived in Kathmandu on Saturday in a special cargo flight contains 40 ventilators, oxygen concentrators, 1.1 million rapid antigen tests and protective equipment (110&rsquo;000 KN95 masks, 50&rsquo;000 gloves and 15&rsquo;000 suits) medical assitance includes ventilators, oxygen concentrators and protective equipment, according to the Embassy of Switzerland in Nepal.&nbsp;</p>

<p>Issuing a statement, the Swiss Embassy said that the current shipment of essential medical supplies is part of Switzerland&rsquo;s comprehensive response to COVID-19 in Nepal, which started in April 2020.</p>

<p>Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, said the Embassy in its statement.&nbsp;</p>

<p>The ventilators, oxygen concentrators and protective equipment will reinforce the response of various hospitals in Nepal, whereas the antigen tests will allow for better monitoring and controlling of the spread of the virus, e.g. through rapid health screening, community level surveillance and early isolation of patients, according to the statement.&nbsp;</p>

<p>&nbsp;&ldquo;Switzerland stands in solidarity with Nepal and the Nepali people in the fight against the COVID-19 pandemic. These essential medical supplies will save lives and provide further support to the Government of Nepal to control and contain the pandemic&rdquo;, the statement quoted Elisabeth von Capeller, Swiss Ambassador to Nepal, as saying.</p>

<p>The Swiss Embassy has adapted its existing projects to ensure continuation of services during the COVID-19 pandemic and supported stranded migrants who lost their jobs in the destination countries with shelter, food, medical assistance, legal counselling and assistance for return, according to the statement.&nbsp;<br />
&nbsp;</p>
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			'sortorder' => '13176',
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		'Article' => array(
			'id' => '13430',
			'article_category_id' => '1',
			'title' => 'President Dissolves House of Representatives Again',
			'sub_title' => 'Mid-term Elections Announced for November 12 and 19 ',
			'summary' => 'May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. President Bhandari took such decision upon the recommendation of the Council of Ministers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The elections have been announced for coming November 12 and 19, the state-owned national news agency RSS reported citing Minister for Communications and Information Technology Parbat Gurung. An emergency meeting of the cabinet was held after the President concluded that the claims made for formation of a new government as per Article 76 (5) of the Constitution did not fulfill the required criteria.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><br />
<span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Arial Unicode MS&quot;">Claims by Oli and Deuba not sufficient&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, President Bidya Devi Bhandari had concluded that the claims made by Prime Minister and CPN-UML Chair KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba to form the next government were not sufficient, RSS further reported. Prime Minister Oli had claimed support of 121 MPs of the ruling UML and 32 members of the Janata Samajbadi Party. However, 26 MPs of UML and 12 MPs of JSP backed NC President Deuba, according to a statement issued by the Office of the President.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">NC president Deuba had staked the claim over the new government leadership with signatures from 61 NC MPs, 49 CPN (Maoist Centre) MPs, 26 CPN-UML MPs and Janamorcha Nepal&#39;s Durga Poudel. However, chairs and parliamentary party leaders of UML and JSP had demanded that the signatures of their respective party MPs be rejected, adds the statement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As MPs were found repeated in the claims by the two leaders, and that MPs had supported one another going against the party&#39;s decision as claimed by the respective parties and considering Article 89 of the Constitution and Political Party Act, 2073, both did not show concrete ground to gain a vote of confidence, argues the statement issued by the President&rsquo;s Office for rejecting both the candidates.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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			'id' => '13429',
			'article_category_id' => '1',
			'title' => ' Oli and Deuba Stake Claim to the Post of Prime Minister ',
			'sub_title' => '',
			'summary' => 'May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President’s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President&rsquo;s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ruling party chair Oli has presented his claim for new prime minister with support from 153 members of the House of Representatives (HoR) while Nepali Congress (NC) President Deuba presented the claim for the country&rsquo;s highest executive position with the signatures of 149 HoR members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Incumbent Prime Minster Oli has claimed for the prime ministerial berth as per the Article 76(5) of the Constitution of Nepal with support from 153 HoR members including 121 of UML and 32 of Janata Samajwadi Party (JSP), his chief advisor Bishnu Rimal informed. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A letter of claim presented to this effect has been signed by Chairperson Mahantha Thakur and parliamentary party leader Rajendra Mahato on behalf of JSP and UML chair and parliamentary party leader Oli.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the other hand, Deuba registered his letter of claim with the signatures of 149 HoR members including 61 of NC, 49 of CPN (Maoist Center), 26 of CPN (UML) Madhav Nepal Group, 12 of Janata Samajwadi Party and one of Rastriya Janamorcha Nepal, informed NC chief whip Bal Krishna Khand.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deuba registered his claim for the new prime minster at the Office of the President on behalf of the opposition alliance as per the Article 76 (5) of the Constitution. The HoR has a total of 272 members. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that President Bidya Devi Bhandari had given the deadline up to 5.00 pm this evening (May 21) for the formation of a new government as per the Article 76 (5) of the Constitution. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'sortorder' => '13174',
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			'id' => '13428',
			'article_category_id' => '1',
			'title' => ' PM Oli Gets Additional Portfolio of Seven Ministries ',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court on Thursday had issued an interim order that barred seven ministers who were not Members of Parliament (MPs) from performing their duties.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of Chief Justice Cholendra Shamsher Rana had also ruled the decision of Prime Minister Oli to retain those seven ministers in his cabinet as unconstitutional.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministers who were relived of their duties following the apex court order include Minister for Home Affairs Ram Bahadur Thapa, Minister for Energy, Water Resources and Irrigation Top Bahadur Rayamajhi, Minister for Industry, Commerce and Supplies Lekhraj Bhatta, Minister for Urban Development Prabhu Saha, Minister for Water Supply and Sanitation Mani Chandra Thapa, Minister for Labour, Employment and Social Security Gauri Shankar Chaudhary and the Minister for Youth and Sports Dawa Lama Tamang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The portfolio of those seven ministries has been assigned to Prime Minister Oli as per his recommendation, Assistant Spokesperson at the Office of the President, Keshav Prasad Ghimire, said in a press statement.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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			'article_date' => '2021-05-21 18:03:01',
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	(int) 6 => array(
		'Article' => array(
			'id' => '13427',
			'article_category_id' => '1',
			'title' => 'Production of Sunsari-Morang Industrial Corridor Limited to 40%',
			'sub_title' => '',
			'summary' => 'May 21: Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:&quot;Times New Roman&quot;">Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. The restriction has been actively implementation since the past three weeks. Meanwhile, the production of the industries that are still operating has also declined by 40 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the production of industries that produce essential goods is 80 percent, other industries are producing a limited amount of products. Industrialists have claimed that if the government fails to address the problems of workers and market management, all of the industries would shut down within two weeks.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Sunasri-Morang Industrial Corridor comprises 500 industries of all scales. Fifty thousand workers are employed in these industries. Closing of 40 percent industries means complete closure of 200 industries. This means approximately 20 thousand workers have lost employment and are being compelled to stay at home without any source of income.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central member of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Rajendra Raut informed that the industries in operation have dropped their production to less than 50 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The industries requiring oxygen for operation are completely shut down while other industries as well have not been able to operate properly due to the closure of the market,&rdquo; said Raut.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In normal conditions, the industries of the corridor used to produce goods worth Rs 500 million on a daily basis..</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Altogether 50 industries including those that produce medicine, food grains and oxygen are still in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Export and import of the goods have also been greatly affected due to the closure of the industries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Suyash Pyakurel of Morang informed that less than 50 percent of industries are in operation in the Corridor. Due to the closure of the market, the consumption of manufactured goods has decreased and the existing industries are also cutting production by up to 60 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He also said that the state needs to take necessary measures to save the industry. He urged the government to bring a bigger relief package than the previous year as bank interest, salary of employees and other expenses will continue even if the industry is closed. According to the President of Morang Trade Association, Prakash Mundada, production and consumption have both declined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;The industry has cut production by 60 to 70 percent. As production declines, so does the employment of workers. He said that large industries in the corridor will also be closed within the next one week.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '13172',
			'image' => '20210521025732_My Effect.jpg',
			'article_date' => '2021-05-21 14:56:53',
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	(int) 7 => array(
		'Article' => array(
			'id' => '13426',
			'article_category_id' => '1',
			'title' => 'Australia Announces $7 Million to Support Nepal’s COVID-19 Response',
			'sub_title' => '',
			'summary' => 'May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s contribution will boost Nepal&rsquo;s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,&rdquo; read the statement issued on May 21.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,&rdquo; the statement quoted the Australian ambassador as saying.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '13171',
			'image' => '20210521023834_Flag-Pins-Ne.jpg',
			'article_date' => '2021-05-21 14:37:49',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13425',
			'article_category_id' => '1',
			'title' => 'Seven Chartered Flights Operated in Last 10 Days',
			'sub_title' => '',
			'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on&nbsp; 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, CAAN has approved three additional evacuation flights scheduled for &nbsp;May 22, 23, and 24.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Himalaya Airlines has expressed its concern over the allegation.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them,&quot; a press statement of the airlines reads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights,&quot; the statement further added.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '13424',
			'article_category_id' => '1',
			'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.',
			'content' => '<p><em>President Bidya Devi Bhandari.&nbsp; Photo Courtesy: Government of Nepal</em></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p>
',
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			'created' => '2021-05-21',
			'modified' => '2021-05-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13169',
			'image' => '20210521110826_Rt._Hon._President-819x1024.jpg',
			'article_date' => '2021-05-21 11:07:24',
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	(int) 10 => array(
		'Article' => array(
			'id' => '13423',
			'article_category_id' => '1',
			'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus',
			'sub_title' => '',
			'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2021-05-21',
			'modified' => '2021-05-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13168',
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			'article_date' => '2021-05-21 10:47:40',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13422',
			'article_category_id' => '1',
			'title' => 'Five Companies Apply for License of Reinsurance Company',
			'sub_title' => '',
			'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently only one state-owned &nbsp;reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;During the evaluation process, the company receiving the highest marks will get the license for operation,&quot; he added.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2021-05-20',
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			'sortorder' => '13167',
			'image' => '20210520071206_20210315114314_20200630093335_Reinsurance.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13421',
			'article_category_id' => '1',
			'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown    ',
			'sub_title' => '',
			'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown,&quot; the order states.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted,&quot;&nbsp; the order added.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19.&nbsp; However, the government has intensified tax collection, saying that it is in no hurry to make a decision.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any &nbsp;concern,&quot; said Malla.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13420',
			'article_category_id' => '1',
			'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists',
			'sub_title' => '',
			'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.     ',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19.&nbsp;&nbsp;&nbsp;&nbsp;<br />
NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp; </span></span></p>
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			'article_date' => '2021-05-20 11:44:13',
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			'id' => '13419',
			'article_category_id' => '1',
			'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia',
			'sub_title' => '',
			'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br />
Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal&rsquo;s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br />
The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br />
The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br />
The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br />
Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br />
It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13432',
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			'title' => 'NRB study finds FDI-based cement industries more efficient, profitable than locally-owned producers',
			'sub_title' => ' Govt advised to allow FDI in cement industries on condition that local investors also hold certain minimum percent equity',
			'summary' => 'Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found. ',
			'content' => '<p>May 22:&nbsp;Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found.&nbsp;</p>

<p>According to &lsquo;Foreign Direct Investment in Cement Industry in Nepal, A study on Socio-economic Impact&rsquo; by the NRB, the FDI-based cement industry uses 0.99 metric tons of limestone on average while the government-owned cement industry uses 1.45 metric tons to produce one ton of cement. Limestone is an important raw material used for cement manufacturing.&nbsp;</p>

<p>Another yardstick that the study used to compare the efficiency and profitability between FDI-based cement industries and locally owned cement industries is the production cost to the sales ratio. &nbsp;According to the finding, the production cost to the sales ratio of the FDI-based cement industry is about 46.63 percent compared to 48.95 percent and 82.18 percent of locally owned and government owned cement industry.&nbsp;<img alt="" src="/app/webroot/userfiles/images/FDI-based%20cement%20industries.JPG" style="float:right; height:344px; width:500px" /></p>

<p>&ldquo;The economies of scale owing to larger size and the superior technology of the FDI-based cement industries are the reasons behind their higher efficiency,&rdquo; read the report.&nbsp;</p>

<p>The study is based on a survey of seven out of 55 cement industries that are operational in Nepal. Three FDI-based, two government-owned and two locally owned cement industries were included in the survey. There are three FDI-based, two government owned and 50 locally and privately owned cement industries that are&nbsp;in operation in Nepal. &nbsp;Two FDI-based industries are currently under construction.&nbsp;</p>

<p>Though the financial and operational performances of the FDI-based industries have remained better compared to government and locally owned industries, their impact on social wellbeing and economic condition is mixed. &nbsp;&nbsp;</p>

<p>For example, around 57 percent of respondents in the survey agree that FDI-based cement industry has provided employment to local people compared to respondents for government owned (90 percent) and locally owned (60 percent), according to the study report. &nbsp;Similarly, respondents residing near cement industry who agree that the industry has contributed to infrastructure development are 37 percent for FDI based cement industry compared to 90 percent for the government-owned cement industry. In terms of air pollution under major negative externality which 92 percent of respondent agree with, FDI-based industries generate comparitively lower air pollution owing to their superior technology, according to the report.</p>

<p>The study report also recommended the government keep FDI in cement industries open, citing its role in bringing new technology into the country and promoting competition and&nbsp;forcing domestic industries to be more efficient.&nbsp;&ldquo;It is, however, better to allow FDI in cement industries only on condition that local investors also hold certain minimum percent equity in such industries.This would help in the transfer of both technical and managerial know-how from foreign investors to local stakeholders,&rdquo; the report added.&nbsp;</p>
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			'title' => 'Demand for Cement Projected to Grow Double in the Next Five Years',
			'sub_title' => '',
			'summary' => 'May 23: Nepal Rastra Bank (NRB) has projected the country’s demand for cement go grow two folds in the next five years. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">May 23: Nepal Rastra Bank (NRB) has projected the country&rsquo;s demand for cement go grow two folds in the next five years. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Stating that big infrastructure projects are currently under-construction and new projects are also being implemented, the central bank has project the annual demand for cement in Nepal to rise to 25.8 million metric tons by 2025 AD.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Considering the Fiscal Year 2020/21 as the base year, the central bank has projected the demand for cement to grow continually in the next five years.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The annual demand for cement in the domestic market of Nepal is around 9 million metric tons at present. The production capacity of 55 cement industries of Nepal is said to be 15 million metric tons per year. However, all the cement industries are not operating in optimal capacity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Unveiling a report on Foreign Investment in Nepal&rsquo;s Cement Industry on May 21, the central bank said that the demand for cement is projected to grow as national pride projects such as the&nbsp; Gautam Buddha International Airport, Pokhara International Airport, are currently under construction and other big projects are also in the pipeline. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The study states that the demand for cement is expected to grow due to the projects that are in the offing such as Budhi Gandaki Hydropower Project, Upper Marshyangdi Hydropower Project (II), Kaligandaki George, among others. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The report also suggests opening more companies with foreign direct investment. It also suggests optimal use of limestone quarries of the country and to reduce import by bringing those quarries into operation. Another suggestion given by the report is export promotion.</span></span></p>

<p>&nbsp;</p>
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			'created' => '2021-05-23',
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			'sortorder' => '13177',
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		'Article' => array(
			'id' => '13431',
			'article_category_id' => '1',
			'title' => 'Switzerland provides 30 tonnes of medical supplies worth $8 million to Nepal ',
			'sub_title' => 'Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, according to Swiss Embassy in Nepal',
			'summary' => '',
			'content' => '<p>May 22:&nbsp;Switzerland has sent a consignment of essential medical supplies worth $8 million to Nepal in response to request from the Government of Nepal for the assistance in combatting the second wave of Covid-19.&nbsp;</p>

<p>Swiss Ambassador to Nepal Elisabeth von Capeller handed over medical supplies to Minister for Health and Population Hridayesh Tripathi on Saturday.</p>

<p>The 30-tonne&nbsp;shipment that arrived in Kathmandu on Saturday in a special cargo flight contains 40 ventilators, oxygen concentrators, 1.1 million rapid antigen tests and protective equipment (110&rsquo;000 KN95 masks, 50&rsquo;000 gloves and 15&rsquo;000 suits) medical assitance includes ventilators, oxygen concentrators and protective equipment, according to the Embassy of Switzerland in Nepal.&nbsp;</p>

<p>Issuing a statement, the Swiss Embassy said that the current shipment of essential medical supplies is part of Switzerland&rsquo;s comprehensive response to COVID-19 in Nepal, which started in April 2020.</p>

<p>Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, said the Embassy in its statement.&nbsp;</p>

<p>The ventilators, oxygen concentrators and protective equipment will reinforce the response of various hospitals in Nepal, whereas the antigen tests will allow for better monitoring and controlling of the spread of the virus, e.g. through rapid health screening, community level surveillance and early isolation of patients, according to the statement.&nbsp;</p>

<p>&nbsp;&ldquo;Switzerland stands in solidarity with Nepal and the Nepali people in the fight against the COVID-19 pandemic. These essential medical supplies will save lives and provide further support to the Government of Nepal to control and contain the pandemic&rdquo;, the statement quoted Elisabeth von Capeller, Swiss Ambassador to Nepal, as saying.</p>

<p>The Swiss Embassy has adapted its existing projects to ensure continuation of services during the COVID-19 pandemic and supported stranded migrants who lost their jobs in the destination countries with shelter, food, medical assistance, legal counselling and assistance for return, according to the statement.&nbsp;<br />
&nbsp;</p>
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			'id' => '13430',
			'article_category_id' => '1',
			'title' => 'President Dissolves House of Representatives Again',
			'sub_title' => 'Mid-term Elections Announced for November 12 and 19 ',
			'summary' => 'May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. President Bhandari took such decision upon the recommendation of the Council of Ministers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The elections have been announced for coming November 12 and 19, the state-owned national news agency RSS reported citing Minister for Communications and Information Technology Parbat Gurung. An emergency meeting of the cabinet was held after the President concluded that the claims made for formation of a new government as per Article 76 (5) of the Constitution did not fulfill the required criteria.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><br />
<span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Arial Unicode MS&quot;">Claims by Oli and Deuba not sufficient&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, President Bidya Devi Bhandari had concluded that the claims made by Prime Minister and CPN-UML Chair KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba to form the next government were not sufficient, RSS further reported. Prime Minister Oli had claimed support of 121 MPs of the ruling UML and 32 members of the Janata Samajbadi Party. However, 26 MPs of UML and 12 MPs of JSP backed NC President Deuba, according to a statement issued by the Office of the President.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">NC president Deuba had staked the claim over the new government leadership with signatures from 61 NC MPs, 49 CPN (Maoist Centre) MPs, 26 CPN-UML MPs and Janamorcha Nepal&#39;s Durga Poudel. However, chairs and parliamentary party leaders of UML and JSP had demanded that the signatures of their respective party MPs be rejected, adds the statement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As MPs were found repeated in the claims by the two leaders, and that MPs had supported one another going against the party&#39;s decision as claimed by the respective parties and considering Article 89 of the Constitution and Political Party Act, 2073, both did not show concrete ground to gain a vote of confidence, argues the statement issued by the President&rsquo;s Office for rejecting both the candidates.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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			'id' => '13429',
			'article_category_id' => '1',
			'title' => ' Oli and Deuba Stake Claim to the Post of Prime Minister ',
			'sub_title' => '',
			'summary' => 'May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President’s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President&rsquo;s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ruling party chair Oli has presented his claim for new prime minister with support from 153 members of the House of Representatives (HoR) while Nepali Congress (NC) President Deuba presented the claim for the country&rsquo;s highest executive position with the signatures of 149 HoR members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Incumbent Prime Minster Oli has claimed for the prime ministerial berth as per the Article 76(5) of the Constitution of Nepal with support from 153 HoR members including 121 of UML and 32 of Janata Samajwadi Party (JSP), his chief advisor Bishnu Rimal informed. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A letter of claim presented to this effect has been signed by Chairperson Mahantha Thakur and parliamentary party leader Rajendra Mahato on behalf of JSP and UML chair and parliamentary party leader Oli.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the other hand, Deuba registered his letter of claim with the signatures of 149 HoR members including 61 of NC, 49 of CPN (Maoist Center), 26 of CPN (UML) Madhav Nepal Group, 12 of Janata Samajwadi Party and one of Rastriya Janamorcha Nepal, informed NC chief whip Bal Krishna Khand.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deuba registered his claim for the new prime minster at the Office of the President on behalf of the opposition alliance as per the Article 76 (5) of the Constitution. The HoR has a total of 272 members. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that President Bidya Devi Bhandari had given the deadline up to 5.00 pm this evening (May 21) for the formation of a new government as per the Article 76 (5) of the Constitution. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '13428',
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			'title' => ' PM Oli Gets Additional Portfolio of Seven Ministries ',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court on Thursday had issued an interim order that barred seven ministers who were not Members of Parliament (MPs) from performing their duties.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of Chief Justice Cholendra Shamsher Rana had also ruled the decision of Prime Minister Oli to retain those seven ministers in his cabinet as unconstitutional.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministers who were relived of their duties following the apex court order include Minister for Home Affairs Ram Bahadur Thapa, Minister for Energy, Water Resources and Irrigation Top Bahadur Rayamajhi, Minister for Industry, Commerce and Supplies Lekhraj Bhatta, Minister for Urban Development Prabhu Saha, Minister for Water Supply and Sanitation Mani Chandra Thapa, Minister for Labour, Employment and Social Security Gauri Shankar Chaudhary and the Minister for Youth and Sports Dawa Lama Tamang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The portfolio of those seven ministries has been assigned to Prime Minister Oli as per his recommendation, Assistant Spokesperson at the Office of the President, Keshav Prasad Ghimire, said in a press statement.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13427',
			'article_category_id' => '1',
			'title' => 'Production of Sunsari-Morang Industrial Corridor Limited to 40%',
			'sub_title' => '',
			'summary' => 'May 21: Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:&quot;Times New Roman&quot;">Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. The restriction has been actively implementation since the past three weeks. Meanwhile, the production of the industries that are still operating has also declined by 40 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the production of industries that produce essential goods is 80 percent, other industries are producing a limited amount of products. Industrialists have claimed that if the government fails to address the problems of workers and market management, all of the industries would shut down within two weeks.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Sunasri-Morang Industrial Corridor comprises 500 industries of all scales. Fifty thousand workers are employed in these industries. Closing of 40 percent industries means complete closure of 200 industries. This means approximately 20 thousand workers have lost employment and are being compelled to stay at home without any source of income.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central member of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Rajendra Raut informed that the industries in operation have dropped their production to less than 50 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The industries requiring oxygen for operation are completely shut down while other industries as well have not been able to operate properly due to the closure of the market,&rdquo; said Raut.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In normal conditions, the industries of the corridor used to produce goods worth Rs 500 million on a daily basis..</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Altogether 50 industries including those that produce medicine, food grains and oxygen are still in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Export and import of the goods have also been greatly affected due to the closure of the industries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Suyash Pyakurel of Morang informed that less than 50 percent of industries are in operation in the Corridor. Due to the closure of the market, the consumption of manufactured goods has decreased and the existing industries are also cutting production by up to 60 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He also said that the state needs to take necessary measures to save the industry. He urged the government to bring a bigger relief package than the previous year as bank interest, salary of employees and other expenses will continue even if the industry is closed. According to the President of Morang Trade Association, Prakash Mundada, production and consumption have both declined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;The industry has cut production by 60 to 70 percent. As production declines, so does the employment of workers. He said that large industries in the corridor will also be closed within the next one week.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13426',
			'article_category_id' => '1',
			'title' => 'Australia Announces $7 Million to Support Nepal’s COVID-19 Response',
			'sub_title' => '',
			'summary' => 'May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s contribution will boost Nepal&rsquo;s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,&rdquo; read the statement issued on May 21.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,&rdquo; the statement quoted the Australian ambassador as saying.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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			'description' => '',
			'sortorder' => '13171',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13425',
			'article_category_id' => '1',
			'title' => 'Seven Chartered Flights Operated in Last 10 Days',
			'sub_title' => '',
			'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on&nbsp; 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, CAAN has approved three additional evacuation flights scheduled for &nbsp;May 22, 23, and 24.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Himalaya Airlines has expressed its concern over the allegation.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them,&quot; a press statement of the airlines reads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights,&quot; the statement further added.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13424',
			'article_category_id' => '1',
			'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.',
			'content' => '<p><em>President Bidya Devi Bhandari.&nbsp; Photo Courtesy: Government of Nepal</em></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p>
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			'description' => '',
			'sortorder' => '13169',
			'image' => '20210521110826_Rt._Hon._President-819x1024.jpg',
			'article_date' => '2021-05-21 11:07:24',
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	(int) 10 => array(
		'Article' => array(
			'id' => '13423',
			'article_category_id' => '1',
			'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus',
			'sub_title' => '',
			'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '13422',
			'article_category_id' => '1',
			'title' => 'Five Companies Apply for License of Reinsurance Company',
			'sub_title' => '',
			'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently only one state-owned &nbsp;reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;During the evaluation process, the company receiving the highest marks will get the license for operation,&quot; he added.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown    ',
			'sub_title' => '',
			'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown,&quot; the order states.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted,&quot;&nbsp; the order added.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19.&nbsp; However, the government has intensified tax collection, saying that it is in no hurry to make a decision.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any &nbsp;concern,&quot; said Malla.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13420',
			'article_category_id' => '1',
			'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists',
			'sub_title' => '',
			'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.     ',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19.&nbsp;&nbsp;&nbsp;&nbsp;<br />
NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp; </span></span></p>
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			'sortorder' => '13165',
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			'article_date' => '2021-05-20 11:44:13',
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			'id' => '13419',
			'article_category_id' => '1',
			'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia',
			'sub_title' => '',
			'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br />
Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal&rsquo;s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br />
The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br />
The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br />
The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br />
Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br />
It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13432',
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			'title' => 'NRB study finds FDI-based cement industries more efficient, profitable than locally-owned producers',
			'sub_title' => ' Govt advised to allow FDI in cement industries on condition that local investors also hold certain minimum percent equity',
			'summary' => 'Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found. ',
			'content' => '<p>May 22:&nbsp;Cement industries with foreign direct investment (FDI) are more efficient and profitable than government owned or locally owned cement industries in Nepal, a recent study report of Nepal Rastra Bank (NRB) found.&nbsp;</p>

<p>According to &lsquo;Foreign Direct Investment in Cement Industry in Nepal, A study on Socio-economic Impact&rsquo; by the NRB, the FDI-based cement industry uses 0.99 metric tons of limestone on average while the government-owned cement industry uses 1.45 metric tons to produce one ton of cement. Limestone is an important raw material used for cement manufacturing.&nbsp;</p>

<p>Another yardstick that the study used to compare the efficiency and profitability between FDI-based cement industries and locally owned cement industries is the production cost to the sales ratio. &nbsp;According to the finding, the production cost to the sales ratio of the FDI-based cement industry is about 46.63 percent compared to 48.95 percent and 82.18 percent of locally owned and government owned cement industry.&nbsp;<img alt="" src="/app/webroot/userfiles/images/FDI-based%20cement%20industries.JPG" style="float:right; height:344px; width:500px" /></p>

<p>&ldquo;The economies of scale owing to larger size and the superior technology of the FDI-based cement industries are the reasons behind their higher efficiency,&rdquo; read the report.&nbsp;</p>

<p>The study is based on a survey of seven out of 55 cement industries that are operational in Nepal. Three FDI-based, two government-owned and two locally owned cement industries were included in the survey. There are three FDI-based, two government owned and 50 locally and privately owned cement industries that are&nbsp;in operation in Nepal. &nbsp;Two FDI-based industries are currently under construction.&nbsp;</p>

<p>Though the financial and operational performances of the FDI-based industries have remained better compared to government and locally owned industries, their impact on social wellbeing and economic condition is mixed. &nbsp;&nbsp;</p>

<p>For example, around 57 percent of respondents in the survey agree that FDI-based cement industry has provided employment to local people compared to respondents for government owned (90 percent) and locally owned (60 percent), according to the study report. &nbsp;Similarly, respondents residing near cement industry who agree that the industry has contributed to infrastructure development are 37 percent for FDI based cement industry compared to 90 percent for the government-owned cement industry. In terms of air pollution under major negative externality which 92 percent of respondent agree with, FDI-based industries generate comparitively lower air pollution owing to their superior technology, according to the report.</p>

<p>The study report also recommended the government keep FDI in cement industries open, citing its role in bringing new technology into the country and promoting competition and&nbsp;forcing domestic industries to be more efficient.&nbsp;&ldquo;It is, however, better to allow FDI in cement industries only on condition that local investors also hold certain minimum percent equity in such industries.This would help in the transfer of both technical and managerial know-how from foreign investors to local stakeholders,&rdquo; the report added.&nbsp;</p>
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			'title' => 'Demand for Cement Projected to Grow Double in the Next Five Years',
			'sub_title' => '',
			'summary' => 'May 23: Nepal Rastra Bank (NRB) has projected the country’s demand for cement go grow two folds in the next five years. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">May 23: Nepal Rastra Bank (NRB) has projected the country&rsquo;s demand for cement go grow two folds in the next five years. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Stating that big infrastructure projects are currently under-construction and new projects are also being implemented, the central bank has project the annual demand for cement in Nepal to rise to 25.8 million metric tons by 2025 AD.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Considering the Fiscal Year 2020/21 as the base year, the central bank has projected the demand for cement to grow continually in the next five years.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The annual demand for cement in the domestic market of Nepal is around 9 million metric tons at present. The production capacity of 55 cement industries of Nepal is said to be 15 million metric tons per year. However, all the cement industries are not operating in optimal capacity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Unveiling a report on Foreign Investment in Nepal&rsquo;s Cement Industry on May 21, the central bank said that the demand for cement is projected to grow as national pride projects such as the&nbsp; Gautam Buddha International Airport, Pokhara International Airport, are currently under construction and other big projects are also in the pipeline. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The study states that the demand for cement is expected to grow due to the projects that are in the offing such as Budhi Gandaki Hydropower Project, Upper Marshyangdi Hydropower Project (II), Kaligandaki George, among others. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The report also suggests opening more companies with foreign direct investment. It also suggests optimal use of limestone quarries of the country and to reduce import by bringing those quarries into operation. Another suggestion given by the report is export promotion.</span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '13177',
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		'Article' => array(
			'id' => '13431',
			'article_category_id' => '1',
			'title' => 'Switzerland provides 30 tonnes of medical supplies worth $8 million to Nepal ',
			'sub_title' => 'Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, according to Swiss Embassy in Nepal',
			'summary' => '',
			'content' => '<p>May 22:&nbsp;Switzerland has sent a consignment of essential medical supplies worth $8 million to Nepal in response to request from the Government of Nepal for the assistance in combatting the second wave of Covid-19.&nbsp;</p>

<p>Swiss Ambassador to Nepal Elisabeth von Capeller handed over medical supplies to Minister for Health and Population Hridayesh Tripathi on Saturday.</p>

<p>The 30-tonne&nbsp;shipment that arrived in Kathmandu on Saturday in a special cargo flight contains 40 ventilators, oxygen concentrators, 1.1 million rapid antigen tests and protective equipment (110&rsquo;000 KN95 masks, 50&rsquo;000 gloves and 15&rsquo;000 suits) medical assitance includes ventilators, oxygen concentrators and protective equipment, according to the Embassy of Switzerland in Nepal.&nbsp;</p>

<p>Issuing a statement, the Swiss Embassy said that the current shipment of essential medical supplies is part of Switzerland&rsquo;s comprehensive response to COVID-19 in Nepal, which started in April 2020.</p>

<p>Till date, Switzerland has allocated a total of USD 20 million to the COVID-19 response in Nepal, said the Embassy in its statement.&nbsp;</p>

<p>The ventilators, oxygen concentrators and protective equipment will reinforce the response of various hospitals in Nepal, whereas the antigen tests will allow for better monitoring and controlling of the spread of the virus, e.g. through rapid health screening, community level surveillance and early isolation of patients, according to the statement.&nbsp;</p>

<p>&nbsp;&ldquo;Switzerland stands in solidarity with Nepal and the Nepali people in the fight against the COVID-19 pandemic. These essential medical supplies will save lives and provide further support to the Government of Nepal to control and contain the pandemic&rdquo;, the statement quoted Elisabeth von Capeller, Swiss Ambassador to Nepal, as saying.</p>

<p>The Swiss Embassy has adapted its existing projects to ensure continuation of services during the COVID-19 pandemic and supported stranded migrants who lost their jobs in the destination countries with shelter, food, medical assistance, legal counselling and assistance for return, according to the statement.&nbsp;<br />
&nbsp;</p>
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			'id' => '13430',
			'article_category_id' => '1',
			'title' => 'President Dissolves House of Representatives Again',
			'sub_title' => 'Mid-term Elections Announced for November 12 and 19 ',
			'summary' => 'May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 22: President Bidya Devi Bhandari has dissolved the House of Representatives and announced mid-term elections to be held in two phases. President Bhandari took such decision upon the recommendation of the Council of Ministers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The elections have been announced for coming November 12 and 19, the state-owned national news agency RSS reported citing Minister for Communications and Information Technology Parbat Gurung. An emergency meeting of the cabinet was held after the President concluded that the claims made for formation of a new government as per Article 76 (5) of the Constitution did not fulfill the required criteria.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><br />
<span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Arial Unicode MS&quot;">Claims by Oli and Deuba not sufficient&nbsp;&nbsp;&nbsp;&nbsp; </span></strong><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, President Bidya Devi Bhandari had concluded that the claims made by Prime Minister and CPN-UML Chair KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba to form the next government were not sufficient, RSS further reported. Prime Minister Oli had claimed support of 121 MPs of the ruling UML and 32 members of the Janata Samajbadi Party. However, 26 MPs of UML and 12 MPs of JSP backed NC President Deuba, according to a statement issued by the Office of the President.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">NC president Deuba had staked the claim over the new government leadership with signatures from 61 NC MPs, 49 CPN (Maoist Centre) MPs, 26 CPN-UML MPs and Janamorcha Nepal&#39;s Durga Poudel. However, chairs and parliamentary party leaders of UML and JSP had demanded that the signatures of their respective party MPs be rejected, adds the statement.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As MPs were found repeated in the claims by the two leaders, and that MPs had supported one another going against the party&#39;s decision as claimed by the respective parties and considering Article 89 of the Constitution and Political Party Act, 2073, both did not show concrete ground to gain a vote of confidence, argues the statement issued by the President&rsquo;s Office for rejecting both the candidates.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13429',
			'article_category_id' => '1',
			'title' => ' Oli and Deuba Stake Claim to the Post of Prime Minister ',
			'sub_title' => '',
			'summary' => 'May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President’s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: CPN-UML Chairperson KP Sharma Oli and main opposition party President Sher Bahadur Deuba have presented their claims at the President&rsquo;s Office for the post of the prime minister with support from required numbers of the House of Representatives (HoR) members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ruling party chair Oli has presented his claim for new prime minister with support from 153 members of the House of Representatives (HoR) while Nepali Congress (NC) President Deuba presented the claim for the country&rsquo;s highest executive position with the signatures of 149 HoR members.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Incumbent Prime Minster Oli has claimed for the prime ministerial berth as per the Article 76(5) of the Constitution of Nepal with support from 153 HoR members including 121 of UML and 32 of Janata Samajwadi Party (JSP), his chief advisor Bishnu Rimal informed. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A letter of claim presented to this effect has been signed by Chairperson Mahantha Thakur and parliamentary party leader Rajendra Mahato on behalf of JSP and UML chair and parliamentary party leader Oli.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the other hand, Deuba registered his letter of claim with the signatures of 149 HoR members including 61 of NC, 49 of CPN (Maoist Center), 26 of CPN (UML) Madhav Nepal Group, 12 of Janata Samajwadi Party and one of Rastriya Janamorcha Nepal, informed NC chief whip Bal Krishna Khand.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deuba registered his claim for the new prime minster at the Office of the President on behalf of the opposition alliance as per the Article 76 (5) of the Constitution. The HoR has a total of 272 members. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that President Bidya Devi Bhandari had given the deadline up to 5.00 pm this evening (May 21) for the formation of a new government as per the Article 76 (5) of the Constitution. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13428',
			'article_category_id' => '1',
			'title' => ' PM Oli Gets Additional Portfolio of Seven Ministries ',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has assigned Prime Minister KP Sharma Oli to look after the additional portfolio of seven ministries until further arrangements, according to the state-owned national news agency RSS.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court on Thursday had issued an interim order that barred seven ministers who were not Members of Parliament (MPs) from performing their duties.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of Chief Justice Cholendra Shamsher Rana had also ruled the decision of Prime Minister Oli to retain those seven ministers in his cabinet as unconstitutional.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministers who were relived of their duties following the apex court order include Minister for Home Affairs Ram Bahadur Thapa, Minister for Energy, Water Resources and Irrigation Top Bahadur Rayamajhi, Minister for Industry, Commerce and Supplies Lekhraj Bhatta, Minister for Urban Development Prabhu Saha, Minister for Water Supply and Sanitation Mani Chandra Thapa, Minister for Labour, Employment and Social Security Gauri Shankar Chaudhary and the Minister for Youth and Sports Dawa Lama Tamang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The portfolio of those seven ministries has been assigned to Prime Minister Oli as per his recommendation, Assistant Spokesperson at the Office of the President, Keshav Prasad Ghimire, said in a press statement.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13427',
			'article_category_id' => '1',
			'title' => 'Production of Sunsari-Morang Industrial Corridor Limited to 40%',
			'sub_title' => '',
			'summary' => 'May 21: Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:&quot;Times New Roman&quot;">Due to the implementation of prohibitory orders to curb Covid-19 infection, 40 percent of the industries in Sunsari-Morang Industrial Corridor have been shut down. The restriction has been actively implementation since the past three weeks. Meanwhile, the production of the industries that are still operating has also declined by 40 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the production of industries that produce essential goods is 80 percent, other industries are producing a limited amount of products. Industrialists have claimed that if the government fails to address the problems of workers and market management, all of the industries would shut down within two weeks.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Sunasri-Morang Industrial Corridor comprises 500 industries of all scales. Fifty thousand workers are employed in these industries. Closing of 40 percent industries means complete closure of 200 industries. This means approximately 20 thousand workers have lost employment and are being compelled to stay at home without any source of income.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central member of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Rajendra Raut informed that the industries in operation have dropped their production to less than 50 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The industries requiring oxygen for operation are completely shut down while other industries as well have not been able to operate properly due to the closure of the market,&rdquo; said Raut.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In normal conditions, the industries of the corridor used to produce goods worth Rs 500 million on a daily basis..</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Altogether 50 industries including those that produce medicine, food grains and oxygen are still in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Export and import of the goods have also been greatly affected due to the closure of the industries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Suyash Pyakurel of Morang informed that less than 50 percent of industries are in operation in the Corridor. Due to the closure of the market, the consumption of manufactured goods has decreased and the existing industries are also cutting production by up to 60 percent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He also said that the state needs to take necessary measures to save the industry. He urged the government to bring a bigger relief package than the previous year as bank interest, salary of employees and other expenses will continue even if the industry is closed. According to the President of Morang Trade Association, Prakash Mundada, production and consumption have both declined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;The industry has cut production by 60 to 70 percent. As production declines, so does the employment of workers. He said that large industries in the corridor will also be closed within the next one week.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13426',
			'article_category_id' => '1',
			'title' => 'Australia Announces $7 Million to Support Nepal’s COVID-19 Response',
			'sub_title' => '',
			'summary' => 'May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s contribution will boost Nepal&rsquo;s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,&rdquo; read the statement issued on May 21.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia&rsquo;s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,&rdquo; the statement quoted the Australian ambassador as saying.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13425',
			'article_category_id' => '1',
			'title' => 'Seven Chartered Flights Operated in Last 10 Days',
			'sub_title' => '',
			'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on&nbsp; 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, CAAN has approved three additional evacuation flights scheduled for &nbsp;May 22, 23, and 24.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Himalaya Airlines has expressed its concern over the allegation.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them,&quot; a press statement of the airlines reads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights,&quot; the statement further added.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13424',
			'article_category_id' => '1',
			'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister',
			'sub_title' => '',
			'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.',
			'content' => '<p><em>President Bidya Devi Bhandari.&nbsp; Photo Courtesy: Government of Nepal</em></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p>
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		'Article' => array(
			'id' => '13423',
			'article_category_id' => '1',
			'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus',
			'sub_title' => '',
			'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '13422',
			'article_category_id' => '1',
			'title' => 'Five Companies Apply for License of Reinsurance Company',
			'sub_title' => '',
			'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment.&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently only one state-owned &nbsp;reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;During the evaluation process, the company receiving the highest marks will get the license for operation,&quot; he added.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13421',
			'article_category_id' => '1',
			'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown    ',
			'sub_title' => '',
			'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown,&quot; the order states.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted,&quot;&nbsp; the order added.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19.&nbsp; However, the government has intensified tax collection, saying that it is in no hurry to make a decision.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any &nbsp;concern,&quot; said Malla.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><br />
<br />
<br />
<br />
&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13420',
			'article_category_id' => '1',
			'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists',
			'sub_title' => '',
			'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.     ',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal.&nbsp;&nbsp;&nbsp;&nbsp;<br />
According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19.&nbsp;&nbsp;&nbsp;&nbsp;<br />
NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp; </span></span></p>
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		'Article' => array(
			'id' => '13419',
			'article_category_id' => '1',
			'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia',
			'sub_title' => '',
			'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br />
Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal&rsquo;s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br />
The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br />
The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br />
The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br />
Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br />
It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00