September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development…
September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development…
September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September…
September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli.…
September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every…
September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to…
September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020…
September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation…
September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21.…
September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months…
September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar…
September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist…
September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors.…
September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half.…
September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk.…
September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half.…
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The inflation forecast is revised down from 3.2% to 2.9% for 2020 and maintained at 2.3% for 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The threat of a prolonged COVID-19 pandemic and a return to more stringent containment measures is the main risk to the outlook. While economies in developing Asia remain resilient, continued policy support is needed to underpin recovery, the report further states.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Bangladesh, Bhutan, and Nepal managed to grow in their recently completed fiscal years because COVID-19 affected only their tail end, says the report. They are set to continue expanding in the current fiscal year, though only minimally for Bhutan and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Inflationary pressures have begun to intensify in South Asia, especially in India, as supply chain disruption pushed up food prices. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">The outlook says </span></span><span style="font-size:14.0pt">physical and mental health is vital to post-pandemic recovery. The report’s theme chapter explores wellness, or the pursuit of holistic health and well-being. It examines the state of wellness in Asia and the Pacific and its growing role in the region’s economy. It discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12225', 'image' => '20200916124331_1600206206.Clipboard08.jpg', 'article_date' => '2020-09-16 12:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12476', 'article_category_id' => '1', 'title' => 'Long-Distance Transportation and Air Service to Resume from Tomorrow', 'sub_title' => '', 'summary' => 'September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of Ministers recently decided to resume the services that were disrupted since lockdown was imposed on March 24. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, it was reported that the inter-district transportation service and domestic flight would resume next week starting from September 21. However, Foreign Minister Pradeep Gyawali, who is the new government spokesperson, confirmed that the services will be available from Thursday itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the latest decision, long route vehicles will come into operation from September 17 along with domestic air service. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has also decided to allow hotels, restaurants as well as trekking and travel agencies to reopen from Thursday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Long-route vehicles and other means of public transportation should however adopt safety measures amid coronavirus pandemic. Such vehicles will be allowed to keep only one passenger in a row and must maintain physical distance among them. Public vehicles will not be allowed to take in passengers beyond the seating capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">All the passengers and drivers as well as helpers must compulsorily wear masks and gloves while sanitizers must be available at the door of the vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, transport entrepreneurs also discussed about ways to ensure safety measures anticipating large number of people returning to their homes during the upcoming Dashain festival.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Public vehicles will be allowed to charge a maximum of 50 percent amount to the fares fixed by the government. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the cabinet has decided to extend the closure of international borders for a month. As per the cabinet decision, the border entry points will remain closed until October 16. People will not be allowed to enter into the country unless there is an emergency. The government has decided to open two more border entry points for emergency purpose. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to government officials, Ilam's Pashupatinagar and Darchula have been opened for emergency visit along with 10 other border points. Likewise, Rasuwagadhi border has also been opened especially for transport of goods that have been stranded there since months. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12224', 'image' => '20200916111237_1600205792.4.jpg', 'article_date' => '2020-09-16 11:11:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12477', 'article_category_id' => '1', 'title' => 'Yuba Raj Khatiwada Appointed Special Financial Advisor to PM Oli', 'sub_title' => '', 'summary' => 'September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Khatiwada, a former governor of Nepal Rastra Bank, was earlier appointed as finance minister by the Oli-led government after nominating him as a member of the National Assembly under the president’s quota. After his second term in upper house ended recently, Khatiwada resigned from the post of finance minister. Ten days after his resignation, he was appointed to a post where he enjoys all the privileges as a minister, informed Foreign Minister Pradeep Gyawali, who is the new spokesperson of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli was in favour of giving continuity to Khatiwada as finance minister. However, he was forced to choose Nepal Communist Party Vice Chairman Bamdev Gautam for the vacant post of upper house member under pressure from party leaders. Khatiwada could not be appointed finance minister for a third term after his tenure as upper house member ended on September 5. But he is expected to play a key role in decision making after being appointed PM Oli’s advisor, especially because Oli himself holds the portfolio of finance minister.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12223', 'image' => '20200916112550_1600175427.yubaraj-khatiwada.jpg', 'article_date' => '2020-09-16 11:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12475', 'article_category_id' => '1', 'title' => 'Nepali Students Spending Billions of Rupees for Education in India', 'sub_title' => '', 'summary' => 'September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The number of Nepali students in India is the highest among all foreign students, according to the records kept by the Human Resource Development Ministry of India. However, this fact is hardly talked about. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Indian educational institutions are being inclined towards Nepali students. On the other hand, policy makers in Nepal are hardly concerned about finding out the reason for thousands of Nepali students opting to study abroad. Neither are they concerned about retaining the students by giving better opportunities within the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">India has adopted a strategy of attracting foreign students. Nepali students fall in the top priority of India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The All India Survey on Higher Education 2018/19 made public by the Human Resource Development Ministry of India in 2019 shows that Nepali students top the list of foreign students studying in India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepali students constitute 26.88 percent of the total foreign students in India, states the survey report. During the review period, a total of 47,724 foreign students were enrolled in various educational institutions in India. Among them, there were around 13,000 students from Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Taking into consideration five years of average study in higher level, it is estimated that there are around 65,000 Nepali students in India. Nepali students spend billions of rupees on tuition fees, admission, food and accommodation as well as transportation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">In an average, one Nepali student spends around IRs 800,000 every year, according to the guardians who send their wards to India for higher education. Taking this into consideration, Nepali students spend around Rs 52 billion for studying in India every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The expenses would be much higher if the educational fees paid by countless other Nepali students pursuing education in convents of Dehradun, Nainital, Lucknow and Darjeeling are also taken into account.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Deepak Shakya says Nepali students have been pursuing education abroad due to the failure of the Government of Nepal to ensure proper infrastructure and educational system here in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s education policy itself is not stable. The main reason for students going abroad is lack of adequate infrastructure and opportunities,” says Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Shakya says that the government must instead focus on adopting a policy of attracting foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Informed sources say that the Indian government has been providing various facilities to the educational institutes to make education accessible at affordable rates. The Government of India has been spending millions of rupees to attract foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The government of India reportedly approved budget of IRs 1.5 billion for promotional programmes between 2018 to 2020.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Human Resource Development Ministry of India has set a target to attract more than 200,000 foreign students in the next five years. The Indian government has told reputed institutes of India to allocate 15,000 seats for foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepali students have been opting to study abroad due to uncertain academic calendar, says educationist Indu Shekhar Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“India still has three-year course for undergraduate level except for technical subjects. But we have four-year course here in Nepal. On top of that, the course does not get completed in time,” says Mishra. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12222', 'image' => '20200915040253_1600120553.45.jpg', 'article_date' => '2020-09-15 16:02:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12474', 'article_category_id' => '1', 'title' => 'Thousands of Workers Unemployed in Sunsari-Morang Industrial Corridor', 'sub_title' => '', 'summary' => 'September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Out of 50,000 workers employeed in 500 different industries in the corridor, 15,000 have already been unemployed while 14,000 are kept in reserve.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Large industries that normally operated in three shifts have reduced their production to two shifts causing massive unemployment. Similarly, small and medium enterprises have cut off 30 percent of their employees due to the reduction in production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industrialists at the Sunsari-Morang Industrial Corridor inform that they are currently facing challenges of raw materials, labor management and manufacturing goods. The industries producing jute, yarn, noodles, oil, rice, milk, soap, cookies, and grains are currently operating in the corridor but most of them are producing only 60 to 70 percent of their actual capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Arihant Multi-Fibres and Raghupati Jute Mill, which once used to have the highest number of workers in the corridor, used to run their industries in three shifts. However, both the industries currently are carrying their production in two shifts only. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Raj Kumar Golchha, operator of Arihant Multifibres and Raghupati Jute Mill informed that the reduction in number of shifts has left 30 percent of the workers unemployed. “We are employing workers in 15/15 days alternatively (15-day work and 15-day rest),” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12221', 'image' => '20200915020224_599687943.Clipboard05.jpg', 'article_date' => '2020-09-15 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12473', 'article_category_id' => '1', 'title' => 'Kathmandu Marriott Hotel Bags Award at Asia Pacific Hotel Awards 2020 -2021', 'sub_title' => '', 'summary' => 'September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The newly established hotel said in a statement that it also won Nepal’s Best Employer Brand Award 2019, the Best Hotel Launch of the Year, the Best Bar Award, the Best Event Venue Award and the award for the Most Preferred Spa of 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“This achievement was earned through hard work, shaped by the strength of the foundations we set within our very first year of operations. Our commitment to excellence was the overriding sentiment that drove every one of our associates on property to excel at their work,” the statement said.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Kathmandu Marriott Hotel, the award ceremony was hosted jointly by the Employer Branding Institute, Hotel Industry Leadership Award and World HRD Congress during a recent function.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also were delighted and humbled to know that Kathmandu Marriott Hotel was selected as Trip Advisor’s Traveler’s Choice Awards in 2020 placing us in the top 10% percentile of hotels in the world,” the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Kathmandu Marriott Hotel, located in the capital city of Kathmandu, said in the statement that it offers modern design, 5-star services and deluxe amenities. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12220', 'image' => '20200915010110_asdsfasd.jpg', 'article_date' => '2020-09-15 13:00:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12469', 'article_category_id' => '1', 'title' => 'Government Unable to Rescue Stranded Nepalis', 'sub_title' => '', 'summary' => 'September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.', 'content' => '<p><em>A sketch taken from the cover page of Nepal Labour Migration Report 2020. Photo Courtesy: MOLESS</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though the government had announced that it will rescue the stranded Nepalis by availing money from the Foreign Employment Welfare Fund, it has been able to bring back only a handful of stranded citizens considering the total number of Nepalis in need of rescue. The lack of flights has created difficulties to conduct the repatriation operation for the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Foreign Employment Board under the Ministry of Labor, Employment and Social Security, so far only 15 people have been brought from Malaysia by utilizing the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajan Shrestha, executive director of the Foreign Employment Board, informed that the government has not been able to bring the stranded workers from Bahrain, the UAE, Qatar, and other countries due to the lack of flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">"People willing to return back to Nepal on their expenses also aren’t able to return," Shrestha informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He urged the government to immediately make the flight operation convenient and rescue stranded Nepalis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Labor, around 50,000 Nepalis are willing to come to Nepal even by paying exorbitant airfare themselves. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12219', 'image' => '20200914021151_ffect.jpg', 'article_date' => '2020-09-14 14:09:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12472', 'article_category_id' => '1', 'title' => 'Domestic Flights and Long-Route Transportation Services to Resume from September 21', 'sub_title' => '', 'summary' => 'September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of ministers held at the prime minister's official residence in Baluwatar on Monday (September 14) decided to ease the restrictions across the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">After attending the cabinet meeting, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that the government has decided to lift the ban on long-route vehicles and domestic flights effective from upcoming Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The decision comes amid warning from the transport entrepreneurs that they would defy government order of the ban is not lifted by September 17.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the ministry had submitted a proposal to the Covid-19 Crisis Management Centre (CCMC) seeking approval to resume domestic flights from October 1. However, due to pressure from the domestic airline companies, the government decided to reopen air service 10 days before the proposed date.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been repeatedly delaying resumption of air and public transportation services due to increase in Covid-19 cases across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet meeting also decided to recommend the name of NCP Vice Chairman Bamdev Gautam as a member of the National Assembly to the President. There is a constitutional provision for the president to appoint three members of the upper house. Currently, one of the three posts is vacant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the cabinet could not decide about the appointment of the CEO of Nepal Electricity Authority in the vacant place after retirement of Kul Man Ghising, who has become a public figure for ending power cuts in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> Ghising, whose term ended on Sunday, was proposed for another term but Prime Minister KP Oli raised the issue of legal problems in reappointing him.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12218', 'image' => '20200915112131_20200805015856_nepali_flights.jpg', 'article_date' => '2020-09-15 11:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12471', 'article_category_id' => '1', 'title' => 'Ban on Import of Liquor Encourages Smuggling: Importers', 'sub_title' => '', 'summary' => 'September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government banned foreign liquor in line with its policy to ban the import of luxurious goods in late March.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Nepal used to import foreign liquor worth billions of rupees each year. However, with the ban in force, such imported liquor is running out of stock. With the festive season just around the corner, importers anticipate smuggling of liquor into the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The liquor market used to become vibrant during September for the upcoming Dashain festival. The production and sale of liquor used to skyrocket until November. However, the market is inactive this year due to the ban along with the measures to curb coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The intention of the government to ban luxurious goods including liquor is believed to improve the country’s balance of payments and foreign exchange reserve. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Dealers have urged the government to lift the ban on import of foreign liquor stating that the country’s balance of payments is in surplus and the foreign exchange reserve has not been affected by the fear of decline in remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">They argue that the ban on import of foreign liquor would only encourage smuggling of the same products, especially during the festive season. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12217', 'image' => '20200914041225_1305287472234.jpg', 'article_date' => '2020-09-14 16:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12468', 'article_category_id' => '1', 'title' => 'Production of 300 Tons of Sub-Standard Steel of Jagadamba Banned ', 'sub_title' => '', 'summary' => 'September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group. Stating that the steel produced by the company were of poor quality, the bureau banned the sale and distribution of 300 tons of steel rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The bureau informed that the sale and distribution of the company's TMT bar in Bara has been stopped after they found certain amount of carbon and sulfur in the sample of 16 mm rod collected for testing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Bishwa Babu Pudasaini, said they found the product was not as per the specified criteria. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He further informed that the sale was banned as the company could not give satisfactory explanation to the bureau regarding the excessive amount of carbon and sulphur in the product.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the department has also suspended the permission of the company to produce 16 mm rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The company will be allowed to produces 16 mm rods only of the product meets the criteria prescribed by the bureau. Nevertheless, the company will be able to produce other types of rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Although the department has set a maximum value of carbon at 0.30 percent for the production of iron rods, the company has kept the amount at 0.35 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Similarly, the value of sulfur used in rod production should be 0.055 percent but the company has used 0.060 percent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12216', 'image' => '20200914010519_1600032028.4.jpg', 'article_date' => '2020-09-14 13:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12467', 'article_category_id' => '1', 'title' => 'MCC Grant Agreement Risks Running Out of Time', 'sub_title' => '', 'summary' => 'September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, the cross-border transmission line project funded by the US government should have been implemented within five years of signing the agreement. However, there are high chances of losing this project due to the inordinate delay in endorsing the MCC grant agreement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to sources at the Finance Ministry, they have not been able to hold any discussions with the donor agency concerned after the term of Yuba Raj Khatiwada as finance minister ended recently. Officials at the ministry say that the government needs to seek a political solution to the problem because the issue was raised at the political level. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The finance ministry is ready to amend the agreement after the dispute at the political level is settled.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The term of the project expired on June 30. Authorities have been trying to extend the project citing crisis created by coronavirus pandemic but to no avail.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepali Congress and other fringe parties have been demanding immediate endorsement of the MCC grant agreement but the ruling NCP has been long wrangling with the issue. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12215', 'image' => '20200914112314_1600032154.2.jpg', 'article_date' => '2020-09-14 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12465', 'article_category_id' => '1', 'title' => 'Life Insurance Companies Investing in Real Estate ', 'sub_title' => '', 'summary' => 'September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Issuing the ‘Insurer’s Investment Guideline, 2075’, the Insurance Board has made arrangement to allow companies to make capital or loan investment in real estate business and construction of infrastructure such as agriculture, tourism and water resources. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There are currently 19 life insurance companies operating in Nepal. By the end of the last Fiscal Year (FY), they have invested Rs 284.67 billion in deposits of Bank and Financial Institution. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The life insurance companies can invest in various funds including life insurance funds. However, they must have enough money to pay immediately. According to the Insurance Board, as of last July, life insurance companies have invested Rs 362.4 million in real estate business. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Companies will be able to invest a maximum of 5 percent of their reserve capital in real estate. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the companies have invested Rs 7.66 billion in sectors like agriculture, tourism and water resources. There is an arrangement to invest maximum 20 percent of the reserve capital in the field of infrastructure construction. Earlier, only 5 percent of the maximum amount could be invested in such areas. The companies say that they are increasing their investment in the field of infrastructure construction after the limit has been increased. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the investment guideline, the insurance companies can invest in bank deposits, bank shares, ordinary shares of listed companies, debentures of public companies, government bonds, mutual funds, real estate, infrastructure construction and other sectors. Insurance companies have been open to invest in debentures since 2075. Since then, life insurance companies have invested Rs 5 billion in debentures. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12214', 'image' => '20200914103745_20200417105653_Beema-Samiti.jpg', 'article_date' => '2020-09-14 10:36:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12470', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12213', 'image' => '20200914021600_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 14:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12464', 'article_category_id' => '1', 'title' => 'Investments of BFIs Becoming Riskier', 'sub_title' => '', 'summary' => 'September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. Even though the loan collection was satisfactory until the month of Ashad (mid-June to mid-July) in the last fiscal year, investments have become riskier with the reduction in the loan collection since then. Bankers expressed that they have had to face the double problem of not having any alternative investment options and the subsequent increase in their liquidity.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Bankers said that all of the banks in Chitwan have no new investment as well as no new loans. Ishwori Nepane, the manager of Rastriya Banijya Bank, Bharatpur branch, said that the lack of new investments and loan collections has increased their risks. “While the old loans have stopped being collected, there have been no new investments either,” he said, adding, “The depositors need to keep being paid their interest instead.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that while the interest payments and service renewals were satisfactory until the end of Ashad, they have completely stopped now. He believes that this situation has arose because people have started to prioritize their health and daily living over new investments and payment of loans because of COVID-19.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Even though the investments in new industries, infrastructures and constructions had stopped, there used to be some investments in the agricultural sector. However, after the month of Shrawan (mid-July to mid-August), even this sector has been declining,” said Dinesh Babu Nepal, the manager of Agriculture Development Bank, Hakimchowk branch. “Even though new entrepreneurs had shown interest to invest in the agricultural sector during the first week after the lockdown was lifted, the process has now come to a standstill.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the debtors paying for old loans are very low now. There are even less new investors. “Investment in the agricultural sector has been affected as many agricultural products had previously been wasted because of the lack of proper market value,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Many bankers claimed that even their regular customers aren’t interested in getting new loans. “Every sector has been affected. We are dependent on the finance sector,” said Dinesh Gautam, the brank head of Sanima Bank, Narayangarh, “However, the situation isn’t bad enough for us to be scared.” He said that if the effects of COVID-19 prevail for a long time, the finance sector will shut down, which may lead to situations like late repayment of loans and in some cases, bad debts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The effects have not been that bad even with the lack of loan collection and increase in liquidity in banks. Financial institutions will need a few years to come back to their old condition even after the situation start getting back to normal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> Kapil Dev Subedi of Chitwan, who is currently getting his doctorate on ‘Corporate Investment and Financing’ explained that the effects of the current situation may not be visible at the moment but it will start to appear gradually in the future. “Higher the confusion amongst the investors and the debtors, higher the risk for the banks,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that sectors like tourism, automobile and real estate have become riskier, which then makes the investments in this area more at risk. “The banks that have diversified their investments have less risks,” he said, adding, “Banks that have invested more in one sector are facing higher risks.” He suggested that more investments should be made in sectors that have the potential to get debt relief and to attract refinancing investments.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, risks can be reduced if investments are increased for the hydropower, agricultural and pharmaceutical sectors. </span></span></p> ', 'published' => true, 'created' => '2020-09-13', 'modified' => '2020-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '12212', 'image' => '20200913053312_Danger_risk.jpg', 'article_date' => '2020-09-13 17:32:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12466', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12211', 'image' => '20200914104430_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 10:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12478', 'article_category_id' => '1', 'title' => 'Developing Asia Witnessing First Recession in 6 Decades: ADB', 'sub_title' => 'Asia’s GDP to Contract by 0.7 Percent', 'summary' => 'September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook 2020. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"> The report published by the Asian Development Bank on September 15 states that it </span><span style="font-size:14.0pt">is the region's first recession in nearly 6 decades.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, the GDP is projected to grow by 6.8% in 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“Excluding high-income newly industrialized economies, regional GDP is expected to contract by 0.5% this year before growing by 7.2% next year,” states the report. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Softening demand and subdued food prices will keep inflation benign. The inflation forecast is revised down from 3.2% to 2.9% for 2020 and maintained at 2.3% for 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The threat of a prolonged COVID-19 pandemic and a return to more stringent containment measures is the main risk to the outlook. While economies in developing Asia remain resilient, continued policy support is needed to underpin recovery, the report further states.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Bangladesh, Bhutan, and Nepal managed to grow in their recently completed fiscal years because COVID-19 affected only their tail end, says the report. They are set to continue expanding in the current fiscal year, though only minimally for Bhutan and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Inflationary pressures have begun to intensify in South Asia, especially in India, as supply chain disruption pushed up food prices. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">The outlook says </span></span><span style="font-size:14.0pt">physical and mental health is vital to post-pandemic recovery. The report’s theme chapter explores wellness, or the pursuit of holistic health and well-being. It examines the state of wellness in Asia and the Pacific and its growing role in the region’s economy. It discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12225', 'image' => '20200916124331_1600206206.Clipboard08.jpg', 'article_date' => '2020-09-16 12:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12476', 'article_category_id' => '1', 'title' => 'Long-Distance Transportation and Air Service to Resume from Tomorrow', 'sub_title' => '', 'summary' => 'September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of Ministers recently decided to resume the services that were disrupted since lockdown was imposed on March 24. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, it was reported that the inter-district transportation service and domestic flight would resume next week starting from September 21. However, Foreign Minister Pradeep Gyawali, who is the new government spokesperson, confirmed that the services will be available from Thursday itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the latest decision, long route vehicles will come into operation from September 17 along with domestic air service. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has also decided to allow hotels, restaurants as well as trekking and travel agencies to reopen from Thursday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Long-route vehicles and other means of public transportation should however adopt safety measures amid coronavirus pandemic. Such vehicles will be allowed to keep only one passenger in a row and must maintain physical distance among them. Public vehicles will not be allowed to take in passengers beyond the seating capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">All the passengers and drivers as well as helpers must compulsorily wear masks and gloves while sanitizers must be available at the door of the vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, transport entrepreneurs also discussed about ways to ensure safety measures anticipating large number of people returning to their homes during the upcoming Dashain festival.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Public vehicles will be allowed to charge a maximum of 50 percent amount to the fares fixed by the government. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the cabinet has decided to extend the closure of international borders for a month. As per the cabinet decision, the border entry points will remain closed until October 16. People will not be allowed to enter into the country unless there is an emergency. The government has decided to open two more border entry points for emergency purpose. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to government officials, Ilam's Pashupatinagar and Darchula have been opened for emergency visit along with 10 other border points. Likewise, Rasuwagadhi border has also been opened especially for transport of goods that have been stranded there since months. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12224', 'image' => '20200916111237_1600205792.4.jpg', 'article_date' => '2020-09-16 11:11:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12477', 'article_category_id' => '1', 'title' => 'Yuba Raj Khatiwada Appointed Special Financial Advisor to PM Oli', 'sub_title' => '', 'summary' => 'September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Khatiwada, a former governor of Nepal Rastra Bank, was earlier appointed as finance minister by the Oli-led government after nominating him as a member of the National Assembly under the president’s quota. After his second term in upper house ended recently, Khatiwada resigned from the post of finance minister. Ten days after his resignation, he was appointed to a post where he enjoys all the privileges as a minister, informed Foreign Minister Pradeep Gyawali, who is the new spokesperson of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli was in favour of giving continuity to Khatiwada as finance minister. However, he was forced to choose Nepal Communist Party Vice Chairman Bamdev Gautam for the vacant post of upper house member under pressure from party leaders. Khatiwada could not be appointed finance minister for a third term after his tenure as upper house member ended on September 5. But he is expected to play a key role in decision making after being appointed PM Oli’s advisor, especially because Oli himself holds the portfolio of finance minister.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12223', 'image' => '20200916112550_1600175427.yubaraj-khatiwada.jpg', 'article_date' => '2020-09-16 11:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12475', 'article_category_id' => '1', 'title' => 'Nepali Students Spending Billions of Rupees for Education in India', 'sub_title' => '', 'summary' => 'September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The number of Nepali students in India is the highest among all foreign students, according to the records kept by the Human Resource Development Ministry of India. However, this fact is hardly talked about. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Indian educational institutions are being inclined towards Nepali students. On the other hand, policy makers in Nepal are hardly concerned about finding out the reason for thousands of Nepali students opting to study abroad. Neither are they concerned about retaining the students by giving better opportunities within the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">India has adopted a strategy of attracting foreign students. Nepali students fall in the top priority of India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The All India Survey on Higher Education 2018/19 made public by the Human Resource Development Ministry of India in 2019 shows that Nepali students top the list of foreign students studying in India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepali students constitute 26.88 percent of the total foreign students in India, states the survey report. During the review period, a total of 47,724 foreign students were enrolled in various educational institutions in India. Among them, there were around 13,000 students from Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Taking into consideration five years of average study in higher level, it is estimated that there are around 65,000 Nepali students in India. Nepali students spend billions of rupees on tuition fees, admission, food and accommodation as well as transportation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">In an average, one Nepali student spends around IRs 800,000 every year, according to the guardians who send their wards to India for higher education. Taking this into consideration, Nepali students spend around Rs 52 billion for studying in India every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The expenses would be much higher if the educational fees paid by countless other Nepali students pursuing education in convents of Dehradun, Nainital, Lucknow and Darjeeling are also taken into account.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Deepak Shakya says Nepali students have been pursuing education abroad due to the failure of the Government of Nepal to ensure proper infrastructure and educational system here in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s education policy itself is not stable. The main reason for students going abroad is lack of adequate infrastructure and opportunities,” says Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Shakya says that the government must instead focus on adopting a policy of attracting foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Informed sources say that the Indian government has been providing various facilities to the educational institutes to make education accessible at affordable rates. The Government of India has been spending millions of rupees to attract foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The government of India reportedly approved budget of IRs 1.5 billion for promotional programmes between 2018 to 2020.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Human Resource Development Ministry of India has set a target to attract more than 200,000 foreign students in the next five years. The Indian government has told reputed institutes of India to allocate 15,000 seats for foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepali students have been opting to study abroad due to uncertain academic calendar, says educationist Indu Shekhar Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“India still has three-year course for undergraduate level except for technical subjects. But we have four-year course here in Nepal. On top of that, the course does not get completed in time,” says Mishra. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12222', 'image' => '20200915040253_1600120553.45.jpg', 'article_date' => '2020-09-15 16:02:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12474', 'article_category_id' => '1', 'title' => 'Thousands of Workers Unemployed in Sunsari-Morang Industrial Corridor', 'sub_title' => '', 'summary' => 'September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Out of 50,000 workers employeed in 500 different industries in the corridor, 15,000 have already been unemployed while 14,000 are kept in reserve.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Large industries that normally operated in three shifts have reduced their production to two shifts causing massive unemployment. Similarly, small and medium enterprises have cut off 30 percent of their employees due to the reduction in production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industrialists at the Sunsari-Morang Industrial Corridor inform that they are currently facing challenges of raw materials, labor management and manufacturing goods. The industries producing jute, yarn, noodles, oil, rice, milk, soap, cookies, and grains are currently operating in the corridor but most of them are producing only 60 to 70 percent of their actual capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Arihant Multi-Fibres and Raghupati Jute Mill, which once used to have the highest number of workers in the corridor, used to run their industries in three shifts. However, both the industries currently are carrying their production in two shifts only. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Raj Kumar Golchha, operator of Arihant Multifibres and Raghupati Jute Mill informed that the reduction in number of shifts has left 30 percent of the workers unemployed. “We are employing workers in 15/15 days alternatively (15-day work and 15-day rest),” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12221', 'image' => '20200915020224_599687943.Clipboard05.jpg', 'article_date' => '2020-09-15 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12473', 'article_category_id' => '1', 'title' => 'Kathmandu Marriott Hotel Bags Award at Asia Pacific Hotel Awards 2020 -2021', 'sub_title' => '', 'summary' => 'September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The newly established hotel said in a statement that it also won Nepal’s Best Employer Brand Award 2019, the Best Hotel Launch of the Year, the Best Bar Award, the Best Event Venue Award and the award for the Most Preferred Spa of 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“This achievement was earned through hard work, shaped by the strength of the foundations we set within our very first year of operations. Our commitment to excellence was the overriding sentiment that drove every one of our associates on property to excel at their work,” the statement said.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Kathmandu Marriott Hotel, the award ceremony was hosted jointly by the Employer Branding Institute, Hotel Industry Leadership Award and World HRD Congress during a recent function.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also were delighted and humbled to know that Kathmandu Marriott Hotel was selected as Trip Advisor’s Traveler’s Choice Awards in 2020 placing us in the top 10% percentile of hotels in the world,” the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Kathmandu Marriott Hotel, located in the capital city of Kathmandu, said in the statement that it offers modern design, 5-star services and deluxe amenities. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12220', 'image' => '20200915010110_asdsfasd.jpg', 'article_date' => '2020-09-15 13:00:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12469', 'article_category_id' => '1', 'title' => 'Government Unable to Rescue Stranded Nepalis', 'sub_title' => '', 'summary' => 'September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.', 'content' => '<p><em>A sketch taken from the cover page of Nepal Labour Migration Report 2020. Photo Courtesy: MOLESS</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though the government had announced that it will rescue the stranded Nepalis by availing money from the Foreign Employment Welfare Fund, it has been able to bring back only a handful of stranded citizens considering the total number of Nepalis in need of rescue. The lack of flights has created difficulties to conduct the repatriation operation for the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Foreign Employment Board under the Ministry of Labor, Employment and Social Security, so far only 15 people have been brought from Malaysia by utilizing the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajan Shrestha, executive director of the Foreign Employment Board, informed that the government has not been able to bring the stranded workers from Bahrain, the UAE, Qatar, and other countries due to the lack of flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">"People willing to return back to Nepal on their expenses also aren’t able to return," Shrestha informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He urged the government to immediately make the flight operation convenient and rescue stranded Nepalis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Labor, around 50,000 Nepalis are willing to come to Nepal even by paying exorbitant airfare themselves. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12219', 'image' => '20200914021151_ffect.jpg', 'article_date' => '2020-09-14 14:09:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12472', 'article_category_id' => '1', 'title' => 'Domestic Flights and Long-Route Transportation Services to Resume from September 21', 'sub_title' => '', 'summary' => 'September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of ministers held at the prime minister's official residence in Baluwatar on Monday (September 14) decided to ease the restrictions across the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">After attending the cabinet meeting, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that the government has decided to lift the ban on long-route vehicles and domestic flights effective from upcoming Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The decision comes amid warning from the transport entrepreneurs that they would defy government order of the ban is not lifted by September 17.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the ministry had submitted a proposal to the Covid-19 Crisis Management Centre (CCMC) seeking approval to resume domestic flights from October 1. However, due to pressure from the domestic airline companies, the government decided to reopen air service 10 days before the proposed date.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been repeatedly delaying resumption of air and public transportation services due to increase in Covid-19 cases across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet meeting also decided to recommend the name of NCP Vice Chairman Bamdev Gautam as a member of the National Assembly to the President. There is a constitutional provision for the president to appoint three members of the upper house. Currently, one of the three posts is vacant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the cabinet could not decide about the appointment of the CEO of Nepal Electricity Authority in the vacant place after retirement of Kul Man Ghising, who has become a public figure for ending power cuts in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> Ghising, whose term ended on Sunday, was proposed for another term but Prime Minister KP Oli raised the issue of legal problems in reappointing him.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12218', 'image' => '20200915112131_20200805015856_nepali_flights.jpg', 'article_date' => '2020-09-15 11:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12471', 'article_category_id' => '1', 'title' => 'Ban on Import of Liquor Encourages Smuggling: Importers', 'sub_title' => '', 'summary' => 'September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government banned foreign liquor in line with its policy to ban the import of luxurious goods in late March.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Nepal used to import foreign liquor worth billions of rupees each year. However, with the ban in force, such imported liquor is running out of stock. With the festive season just around the corner, importers anticipate smuggling of liquor into the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The liquor market used to become vibrant during September for the upcoming Dashain festival. The production and sale of liquor used to skyrocket until November. However, the market is inactive this year due to the ban along with the measures to curb coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The intention of the government to ban luxurious goods including liquor is believed to improve the country’s balance of payments and foreign exchange reserve. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Dealers have urged the government to lift the ban on import of foreign liquor stating that the country’s balance of payments is in surplus and the foreign exchange reserve has not been affected by the fear of decline in remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">They argue that the ban on import of foreign liquor would only encourage smuggling of the same products, especially during the festive season. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12217', 'image' => '20200914041225_1305287472234.jpg', 'article_date' => '2020-09-14 16:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12468', 'article_category_id' => '1', 'title' => 'Production of 300 Tons of Sub-Standard Steel of Jagadamba Banned ', 'sub_title' => '', 'summary' => 'September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group. Stating that the steel produced by the company were of poor quality, the bureau banned the sale and distribution of 300 tons of steel rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The bureau informed that the sale and distribution of the company's TMT bar in Bara has been stopped after they found certain amount of carbon and sulfur in the sample of 16 mm rod collected for testing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Bishwa Babu Pudasaini, said they found the product was not as per the specified criteria. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He further informed that the sale was banned as the company could not give satisfactory explanation to the bureau regarding the excessive amount of carbon and sulphur in the product.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the department has also suspended the permission of the company to produce 16 mm rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The company will be allowed to produces 16 mm rods only of the product meets the criteria prescribed by the bureau. Nevertheless, the company will be able to produce other types of rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Although the department has set a maximum value of carbon at 0.30 percent for the production of iron rods, the company has kept the amount at 0.35 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Similarly, the value of sulfur used in rod production should be 0.055 percent but the company has used 0.060 percent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12216', 'image' => '20200914010519_1600032028.4.jpg', 'article_date' => '2020-09-14 13:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12467', 'article_category_id' => '1', 'title' => 'MCC Grant Agreement Risks Running Out of Time', 'sub_title' => '', 'summary' => 'September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, the cross-border transmission line project funded by the US government should have been implemented within five years of signing the agreement. However, there are high chances of losing this project due to the inordinate delay in endorsing the MCC grant agreement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to sources at the Finance Ministry, they have not been able to hold any discussions with the donor agency concerned after the term of Yuba Raj Khatiwada as finance minister ended recently. Officials at the ministry say that the government needs to seek a political solution to the problem because the issue was raised at the political level. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The finance ministry is ready to amend the agreement after the dispute at the political level is settled.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The term of the project expired on June 30. Authorities have been trying to extend the project citing crisis created by coronavirus pandemic but to no avail.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepali Congress and other fringe parties have been demanding immediate endorsement of the MCC grant agreement but the ruling NCP has been long wrangling with the issue. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12215', 'image' => '20200914112314_1600032154.2.jpg', 'article_date' => '2020-09-14 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12465', 'article_category_id' => '1', 'title' => 'Life Insurance Companies Investing in Real Estate ', 'sub_title' => '', 'summary' => 'September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Issuing the ‘Insurer’s Investment Guideline, 2075’, the Insurance Board has made arrangement to allow companies to make capital or loan investment in real estate business and construction of infrastructure such as agriculture, tourism and water resources. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There are currently 19 life insurance companies operating in Nepal. By the end of the last Fiscal Year (FY), they have invested Rs 284.67 billion in deposits of Bank and Financial Institution. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The life insurance companies can invest in various funds including life insurance funds. However, they must have enough money to pay immediately. According to the Insurance Board, as of last July, life insurance companies have invested Rs 362.4 million in real estate business. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Companies will be able to invest a maximum of 5 percent of their reserve capital in real estate. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the companies have invested Rs 7.66 billion in sectors like agriculture, tourism and water resources. There is an arrangement to invest maximum 20 percent of the reserve capital in the field of infrastructure construction. Earlier, only 5 percent of the maximum amount could be invested in such areas. The companies say that they are increasing their investment in the field of infrastructure construction after the limit has been increased. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the investment guideline, the insurance companies can invest in bank deposits, bank shares, ordinary shares of listed companies, debentures of public companies, government bonds, mutual funds, real estate, infrastructure construction and other sectors. Insurance companies have been open to invest in debentures since 2075. Since then, life insurance companies have invested Rs 5 billion in debentures. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12214', 'image' => '20200914103745_20200417105653_Beema-Samiti.jpg', 'article_date' => '2020-09-14 10:36:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12470', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12213', 'image' => '20200914021600_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 14:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12464', 'article_category_id' => '1', 'title' => 'Investments of BFIs Becoming Riskier', 'sub_title' => '', 'summary' => 'September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. Even though the loan collection was satisfactory until the month of Ashad (mid-June to mid-July) in the last fiscal year, investments have become riskier with the reduction in the loan collection since then. Bankers expressed that they have had to face the double problem of not having any alternative investment options and the subsequent increase in their liquidity.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Bankers said that all of the banks in Chitwan have no new investment as well as no new loans. Ishwori Nepane, the manager of Rastriya Banijya Bank, Bharatpur branch, said that the lack of new investments and loan collections has increased their risks. “While the old loans have stopped being collected, there have been no new investments either,” he said, adding, “The depositors need to keep being paid their interest instead.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that while the interest payments and service renewals were satisfactory until the end of Ashad, they have completely stopped now. He believes that this situation has arose because people have started to prioritize their health and daily living over new investments and payment of loans because of COVID-19.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Even though the investments in new industries, infrastructures and constructions had stopped, there used to be some investments in the agricultural sector. However, after the month of Shrawan (mid-July to mid-August), even this sector has been declining,” said Dinesh Babu Nepal, the manager of Agriculture Development Bank, Hakimchowk branch. “Even though new entrepreneurs had shown interest to invest in the agricultural sector during the first week after the lockdown was lifted, the process has now come to a standstill.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the debtors paying for old loans are very low now. There are even less new investors. “Investment in the agricultural sector has been affected as many agricultural products had previously been wasted because of the lack of proper market value,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Many bankers claimed that even their regular customers aren’t interested in getting new loans. “Every sector has been affected. We are dependent on the finance sector,” said Dinesh Gautam, the brank head of Sanima Bank, Narayangarh, “However, the situation isn’t bad enough for us to be scared.” He said that if the effects of COVID-19 prevail for a long time, the finance sector will shut down, which may lead to situations like late repayment of loans and in some cases, bad debts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The effects have not been that bad even with the lack of loan collection and increase in liquidity in banks. Financial institutions will need a few years to come back to their old condition even after the situation start getting back to normal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> Kapil Dev Subedi of Chitwan, who is currently getting his doctorate on ‘Corporate Investment and Financing’ explained that the effects of the current situation may not be visible at the moment but it will start to appear gradually in the future. “Higher the confusion amongst the investors and the debtors, higher the risk for the banks,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that sectors like tourism, automobile and real estate have become riskier, which then makes the investments in this area more at risk. “The banks that have diversified their investments have less risks,” he said, adding, “Banks that have invested more in one sector are facing higher risks.” He suggested that more investments should be made in sectors that have the potential to get debt relief and to attract refinancing investments.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, risks can be reduced if investments are increased for the hydropower, agricultural and pharmaceutical sectors. </span></span></p> ', 'published' => true, 'created' => '2020-09-13', 'modified' => '2020-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '12212', 'image' => '20200913053312_Danger_risk.jpg', 'article_date' => '2020-09-13 17:32:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12466', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12211', 'image' => '20200914104430_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 10:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12478', 'article_category_id' => '1', 'title' => 'Developing Asia Witnessing First Recession in 6 Decades: ADB', 'sub_title' => 'Asia’s GDP to Contract by 0.7 Percent', 'summary' => 'September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook 2020. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"> The report published by the Asian Development Bank on September 15 states that it </span><span style="font-size:14.0pt">is the region's first recession in nearly 6 decades.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, the GDP is projected to grow by 6.8% in 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“Excluding high-income newly industrialized economies, regional GDP is expected to contract by 0.5% this year before growing by 7.2% next year,” states the report. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Softening demand and subdued food prices will keep inflation benign. The inflation forecast is revised down from 3.2% to 2.9% for 2020 and maintained at 2.3% for 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The threat of a prolonged COVID-19 pandemic and a return to more stringent containment measures is the main risk to the outlook. While economies in developing Asia remain resilient, continued policy support is needed to underpin recovery, the report further states.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Bangladesh, Bhutan, and Nepal managed to grow in their recently completed fiscal years because COVID-19 affected only their tail end, says the report. They are set to continue expanding in the current fiscal year, though only minimally for Bhutan and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Inflationary pressures have begun to intensify in South Asia, especially in India, as supply chain disruption pushed up food prices. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">The outlook says </span></span><span style="font-size:14.0pt">physical and mental health is vital to post-pandemic recovery. The report’s theme chapter explores wellness, or the pursuit of holistic health and well-being. It examines the state of wellness in Asia and the Pacific and its growing role in the region’s economy. It discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12225', 'image' => '20200916124331_1600206206.Clipboard08.jpg', 'article_date' => '2020-09-16 12:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12476', 'article_category_id' => '1', 'title' => 'Long-Distance Transportation and Air Service to Resume from Tomorrow', 'sub_title' => '', 'summary' => 'September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of Ministers recently decided to resume the services that were disrupted since lockdown was imposed on March 24. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, it was reported that the inter-district transportation service and domestic flight would resume next week starting from September 21. However, Foreign Minister Pradeep Gyawali, who is the new government spokesperson, confirmed that the services will be available from Thursday itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the latest decision, long route vehicles will come into operation from September 17 along with domestic air service. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has also decided to allow hotels, restaurants as well as trekking and travel agencies to reopen from Thursday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Long-route vehicles and other means of public transportation should however adopt safety measures amid coronavirus pandemic. Such vehicles will be allowed to keep only one passenger in a row and must maintain physical distance among them. Public vehicles will not be allowed to take in passengers beyond the seating capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">All the passengers and drivers as well as helpers must compulsorily wear masks and gloves while sanitizers must be available at the door of the vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, transport entrepreneurs also discussed about ways to ensure safety measures anticipating large number of people returning to their homes during the upcoming Dashain festival.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Public vehicles will be allowed to charge a maximum of 50 percent amount to the fares fixed by the government. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the cabinet has decided to extend the closure of international borders for a month. As per the cabinet decision, the border entry points will remain closed until October 16. People will not be allowed to enter into the country unless there is an emergency. The government has decided to open two more border entry points for emergency purpose. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to government officials, Ilam's Pashupatinagar and Darchula have been opened for emergency visit along with 10 other border points. Likewise, Rasuwagadhi border has also been opened especially for transport of goods that have been stranded there since months. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12224', 'image' => '20200916111237_1600205792.4.jpg', 'article_date' => '2020-09-16 11:11:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12477', 'article_category_id' => '1', 'title' => 'Yuba Raj Khatiwada Appointed Special Financial Advisor to PM Oli', 'sub_title' => '', 'summary' => 'September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Khatiwada, a former governor of Nepal Rastra Bank, was earlier appointed as finance minister by the Oli-led government after nominating him as a member of the National Assembly under the president’s quota. After his second term in upper house ended recently, Khatiwada resigned from the post of finance minister. Ten days after his resignation, he was appointed to a post where he enjoys all the privileges as a minister, informed Foreign Minister Pradeep Gyawali, who is the new spokesperson of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli was in favour of giving continuity to Khatiwada as finance minister. However, he was forced to choose Nepal Communist Party Vice Chairman Bamdev Gautam for the vacant post of upper house member under pressure from party leaders. Khatiwada could not be appointed finance minister for a third term after his tenure as upper house member ended on September 5. But he is expected to play a key role in decision making after being appointed PM Oli’s advisor, especially because Oli himself holds the portfolio of finance minister.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12223', 'image' => '20200916112550_1600175427.yubaraj-khatiwada.jpg', 'article_date' => '2020-09-16 11:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12475', 'article_category_id' => '1', 'title' => 'Nepali Students Spending Billions of Rupees for Education in India', 'sub_title' => '', 'summary' => 'September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The number of Nepali students in India is the highest among all foreign students, according to the records kept by the Human Resource Development Ministry of India. However, this fact is hardly talked about. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Indian educational institutions are being inclined towards Nepali students. On the other hand, policy makers in Nepal are hardly concerned about finding out the reason for thousands of Nepali students opting to study abroad. Neither are they concerned about retaining the students by giving better opportunities within the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">India has adopted a strategy of attracting foreign students. Nepali students fall in the top priority of India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The All India Survey on Higher Education 2018/19 made public by the Human Resource Development Ministry of India in 2019 shows that Nepali students top the list of foreign students studying in India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepali students constitute 26.88 percent of the total foreign students in India, states the survey report. During the review period, a total of 47,724 foreign students were enrolled in various educational institutions in India. Among them, there were around 13,000 students from Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Taking into consideration five years of average study in higher level, it is estimated that there are around 65,000 Nepali students in India. Nepali students spend billions of rupees on tuition fees, admission, food and accommodation as well as transportation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">In an average, one Nepali student spends around IRs 800,000 every year, according to the guardians who send their wards to India for higher education. Taking this into consideration, Nepali students spend around Rs 52 billion for studying in India every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The expenses would be much higher if the educational fees paid by countless other Nepali students pursuing education in convents of Dehradun, Nainital, Lucknow and Darjeeling are also taken into account.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Deepak Shakya says Nepali students have been pursuing education abroad due to the failure of the Government of Nepal to ensure proper infrastructure and educational system here in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s education policy itself is not stable. The main reason for students going abroad is lack of adequate infrastructure and opportunities,” says Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Shakya says that the government must instead focus on adopting a policy of attracting foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Informed sources say that the Indian government has been providing various facilities to the educational institutes to make education accessible at affordable rates. The Government of India has been spending millions of rupees to attract foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The government of India reportedly approved budget of IRs 1.5 billion for promotional programmes between 2018 to 2020.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Human Resource Development Ministry of India has set a target to attract more than 200,000 foreign students in the next five years. The Indian government has told reputed institutes of India to allocate 15,000 seats for foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepali students have been opting to study abroad due to uncertain academic calendar, says educationist Indu Shekhar Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“India still has three-year course for undergraduate level except for technical subjects. But we have four-year course here in Nepal. On top of that, the course does not get completed in time,” says Mishra. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12222', 'image' => '20200915040253_1600120553.45.jpg', 'article_date' => '2020-09-15 16:02:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12474', 'article_category_id' => '1', 'title' => 'Thousands of Workers Unemployed in Sunsari-Morang Industrial Corridor', 'sub_title' => '', 'summary' => 'September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Out of 50,000 workers employeed in 500 different industries in the corridor, 15,000 have already been unemployed while 14,000 are kept in reserve.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Large industries that normally operated in three shifts have reduced their production to two shifts causing massive unemployment. Similarly, small and medium enterprises have cut off 30 percent of their employees due to the reduction in production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industrialists at the Sunsari-Morang Industrial Corridor inform that they are currently facing challenges of raw materials, labor management and manufacturing goods. The industries producing jute, yarn, noodles, oil, rice, milk, soap, cookies, and grains are currently operating in the corridor but most of them are producing only 60 to 70 percent of their actual capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Arihant Multi-Fibres and Raghupati Jute Mill, which once used to have the highest number of workers in the corridor, used to run their industries in three shifts. However, both the industries currently are carrying their production in two shifts only. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Raj Kumar Golchha, operator of Arihant Multifibres and Raghupati Jute Mill informed that the reduction in number of shifts has left 30 percent of the workers unemployed. “We are employing workers in 15/15 days alternatively (15-day work and 15-day rest),” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12221', 'image' => '20200915020224_599687943.Clipboard05.jpg', 'article_date' => '2020-09-15 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12473', 'article_category_id' => '1', 'title' => 'Kathmandu Marriott Hotel Bags Award at Asia Pacific Hotel Awards 2020 -2021', 'sub_title' => '', 'summary' => 'September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The newly established hotel said in a statement that it also won Nepal’s Best Employer Brand Award 2019, the Best Hotel Launch of the Year, the Best Bar Award, the Best Event Venue Award and the award for the Most Preferred Spa of 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“This achievement was earned through hard work, shaped by the strength of the foundations we set within our very first year of operations. Our commitment to excellence was the overriding sentiment that drove every one of our associates on property to excel at their work,” the statement said.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Kathmandu Marriott Hotel, the award ceremony was hosted jointly by the Employer Branding Institute, Hotel Industry Leadership Award and World HRD Congress during a recent function.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also were delighted and humbled to know that Kathmandu Marriott Hotel was selected as Trip Advisor’s Traveler’s Choice Awards in 2020 placing us in the top 10% percentile of hotels in the world,” the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Kathmandu Marriott Hotel, located in the capital city of Kathmandu, said in the statement that it offers modern design, 5-star services and deluxe amenities. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12220', 'image' => '20200915010110_asdsfasd.jpg', 'article_date' => '2020-09-15 13:00:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12469', 'article_category_id' => '1', 'title' => 'Government Unable to Rescue Stranded Nepalis', 'sub_title' => '', 'summary' => 'September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.', 'content' => '<p><em>A sketch taken from the cover page of Nepal Labour Migration Report 2020. Photo Courtesy: MOLESS</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though the government had announced that it will rescue the stranded Nepalis by availing money from the Foreign Employment Welfare Fund, it has been able to bring back only a handful of stranded citizens considering the total number of Nepalis in need of rescue. The lack of flights has created difficulties to conduct the repatriation operation for the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Foreign Employment Board under the Ministry of Labor, Employment and Social Security, so far only 15 people have been brought from Malaysia by utilizing the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajan Shrestha, executive director of the Foreign Employment Board, informed that the government has not been able to bring the stranded workers from Bahrain, the UAE, Qatar, and other countries due to the lack of flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">"People willing to return back to Nepal on their expenses also aren’t able to return," Shrestha informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He urged the government to immediately make the flight operation convenient and rescue stranded Nepalis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Labor, around 50,000 Nepalis are willing to come to Nepal even by paying exorbitant airfare themselves. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12219', 'image' => '20200914021151_ffect.jpg', 'article_date' => '2020-09-14 14:09:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12472', 'article_category_id' => '1', 'title' => 'Domestic Flights and Long-Route Transportation Services to Resume from September 21', 'sub_title' => '', 'summary' => 'September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of ministers held at the prime minister's official residence in Baluwatar on Monday (September 14) decided to ease the restrictions across the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">After attending the cabinet meeting, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that the government has decided to lift the ban on long-route vehicles and domestic flights effective from upcoming Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The decision comes amid warning from the transport entrepreneurs that they would defy government order of the ban is not lifted by September 17.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the ministry had submitted a proposal to the Covid-19 Crisis Management Centre (CCMC) seeking approval to resume domestic flights from October 1. However, due to pressure from the domestic airline companies, the government decided to reopen air service 10 days before the proposed date.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been repeatedly delaying resumption of air and public transportation services due to increase in Covid-19 cases across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet meeting also decided to recommend the name of NCP Vice Chairman Bamdev Gautam as a member of the National Assembly to the President. There is a constitutional provision for the president to appoint three members of the upper house. Currently, one of the three posts is vacant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the cabinet could not decide about the appointment of the CEO of Nepal Electricity Authority in the vacant place after retirement of Kul Man Ghising, who has become a public figure for ending power cuts in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> Ghising, whose term ended on Sunday, was proposed for another term but Prime Minister KP Oli raised the issue of legal problems in reappointing him.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12218', 'image' => '20200915112131_20200805015856_nepali_flights.jpg', 'article_date' => '2020-09-15 11:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12471', 'article_category_id' => '1', 'title' => 'Ban on Import of Liquor Encourages Smuggling: Importers', 'sub_title' => '', 'summary' => 'September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government banned foreign liquor in line with its policy to ban the import of luxurious goods in late March.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Nepal used to import foreign liquor worth billions of rupees each year. However, with the ban in force, such imported liquor is running out of stock. With the festive season just around the corner, importers anticipate smuggling of liquor into the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The liquor market used to become vibrant during September for the upcoming Dashain festival. The production and sale of liquor used to skyrocket until November. However, the market is inactive this year due to the ban along with the measures to curb coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The intention of the government to ban luxurious goods including liquor is believed to improve the country’s balance of payments and foreign exchange reserve. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Dealers have urged the government to lift the ban on import of foreign liquor stating that the country’s balance of payments is in surplus and the foreign exchange reserve has not been affected by the fear of decline in remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">They argue that the ban on import of foreign liquor would only encourage smuggling of the same products, especially during the festive season. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12217', 'image' => '20200914041225_1305287472234.jpg', 'article_date' => '2020-09-14 16:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12468', 'article_category_id' => '1', 'title' => 'Production of 300 Tons of Sub-Standard Steel of Jagadamba Banned ', 'sub_title' => '', 'summary' => 'September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group. Stating that the steel produced by the company were of poor quality, the bureau banned the sale and distribution of 300 tons of steel rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The bureau informed that the sale and distribution of the company's TMT bar in Bara has been stopped after they found certain amount of carbon and sulfur in the sample of 16 mm rod collected for testing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Bishwa Babu Pudasaini, said they found the product was not as per the specified criteria. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He further informed that the sale was banned as the company could not give satisfactory explanation to the bureau regarding the excessive amount of carbon and sulphur in the product.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the department has also suspended the permission of the company to produce 16 mm rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The company will be allowed to produces 16 mm rods only of the product meets the criteria prescribed by the bureau. Nevertheless, the company will be able to produce other types of rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Although the department has set a maximum value of carbon at 0.30 percent for the production of iron rods, the company has kept the amount at 0.35 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Similarly, the value of sulfur used in rod production should be 0.055 percent but the company has used 0.060 percent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12216', 'image' => '20200914010519_1600032028.4.jpg', 'article_date' => '2020-09-14 13:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12467', 'article_category_id' => '1', 'title' => 'MCC Grant Agreement Risks Running Out of Time', 'sub_title' => '', 'summary' => 'September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, the cross-border transmission line project funded by the US government should have been implemented within five years of signing the agreement. However, there are high chances of losing this project due to the inordinate delay in endorsing the MCC grant agreement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to sources at the Finance Ministry, they have not been able to hold any discussions with the donor agency concerned after the term of Yuba Raj Khatiwada as finance minister ended recently. Officials at the ministry say that the government needs to seek a political solution to the problem because the issue was raised at the political level. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The finance ministry is ready to amend the agreement after the dispute at the political level is settled.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The term of the project expired on June 30. Authorities have been trying to extend the project citing crisis created by coronavirus pandemic but to no avail.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepali Congress and other fringe parties have been demanding immediate endorsement of the MCC grant agreement but the ruling NCP has been long wrangling with the issue. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12215', 'image' => '20200914112314_1600032154.2.jpg', 'article_date' => '2020-09-14 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12465', 'article_category_id' => '1', 'title' => 'Life Insurance Companies Investing in Real Estate ', 'sub_title' => '', 'summary' => 'September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Issuing the ‘Insurer’s Investment Guideline, 2075’, the Insurance Board has made arrangement to allow companies to make capital or loan investment in real estate business and construction of infrastructure such as agriculture, tourism and water resources. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There are currently 19 life insurance companies operating in Nepal. By the end of the last Fiscal Year (FY), they have invested Rs 284.67 billion in deposits of Bank and Financial Institution. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The life insurance companies can invest in various funds including life insurance funds. However, they must have enough money to pay immediately. According to the Insurance Board, as of last July, life insurance companies have invested Rs 362.4 million in real estate business. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Companies will be able to invest a maximum of 5 percent of their reserve capital in real estate. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the companies have invested Rs 7.66 billion in sectors like agriculture, tourism and water resources. There is an arrangement to invest maximum 20 percent of the reserve capital in the field of infrastructure construction. Earlier, only 5 percent of the maximum amount could be invested in such areas. The companies say that they are increasing their investment in the field of infrastructure construction after the limit has been increased. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the investment guideline, the insurance companies can invest in bank deposits, bank shares, ordinary shares of listed companies, debentures of public companies, government bonds, mutual funds, real estate, infrastructure construction and other sectors. Insurance companies have been open to invest in debentures since 2075. Since then, life insurance companies have invested Rs 5 billion in debentures. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12214', 'image' => '20200914103745_20200417105653_Beema-Samiti.jpg', 'article_date' => '2020-09-14 10:36:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12470', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12213', 'image' => '20200914021600_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 14:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12464', 'article_category_id' => '1', 'title' => 'Investments of BFIs Becoming Riskier', 'sub_title' => '', 'summary' => 'September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. Even though the loan collection was satisfactory until the month of Ashad (mid-June to mid-July) in the last fiscal year, investments have become riskier with the reduction in the loan collection since then. Bankers expressed that they have had to face the double problem of not having any alternative investment options and the subsequent increase in their liquidity.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Bankers said that all of the banks in Chitwan have no new investment as well as no new loans. Ishwori Nepane, the manager of Rastriya Banijya Bank, Bharatpur branch, said that the lack of new investments and loan collections has increased their risks. “While the old loans have stopped being collected, there have been no new investments either,” he said, adding, “The depositors need to keep being paid their interest instead.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that while the interest payments and service renewals were satisfactory until the end of Ashad, they have completely stopped now. He believes that this situation has arose because people have started to prioritize their health and daily living over new investments and payment of loans because of COVID-19.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Even though the investments in new industries, infrastructures and constructions had stopped, there used to be some investments in the agricultural sector. However, after the month of Shrawan (mid-July to mid-August), even this sector has been declining,” said Dinesh Babu Nepal, the manager of Agriculture Development Bank, Hakimchowk branch. “Even though new entrepreneurs had shown interest to invest in the agricultural sector during the first week after the lockdown was lifted, the process has now come to a standstill.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the debtors paying for old loans are very low now. There are even less new investors. “Investment in the agricultural sector has been affected as many agricultural products had previously been wasted because of the lack of proper market value,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Many bankers claimed that even their regular customers aren’t interested in getting new loans. “Every sector has been affected. We are dependent on the finance sector,” said Dinesh Gautam, the brank head of Sanima Bank, Narayangarh, “However, the situation isn’t bad enough for us to be scared.” He said that if the effects of COVID-19 prevail for a long time, the finance sector will shut down, which may lead to situations like late repayment of loans and in some cases, bad debts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The effects have not been that bad even with the lack of loan collection and increase in liquidity in banks. Financial institutions will need a few years to come back to their old condition even after the situation start getting back to normal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> Kapil Dev Subedi of Chitwan, who is currently getting his doctorate on ‘Corporate Investment and Financing’ explained that the effects of the current situation may not be visible at the moment but it will start to appear gradually in the future. “Higher the confusion amongst the investors and the debtors, higher the risk for the banks,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that sectors like tourism, automobile and real estate have become riskier, which then makes the investments in this area more at risk. “The banks that have diversified their investments have less risks,” he said, adding, “Banks that have invested more in one sector are facing higher risks.” He suggested that more investments should be made in sectors that have the potential to get debt relief and to attract refinancing investments.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, risks can be reduced if investments are increased for the hydropower, agricultural and pharmaceutical sectors. </span></span></p> ', 'published' => true, 'created' => '2020-09-13', 'modified' => '2020-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '12212', 'image' => '20200913053312_Danger_risk.jpg', 'article_date' => '2020-09-13 17:32:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12466', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12211', 'image' => '20200914104430_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 10:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12478', 'article_category_id' => '1', 'title' => 'Developing Asia Witnessing First Recession in 6 Decades: ADB', 'sub_title' => 'Asia’s GDP to Contract by 0.7 Percent', 'summary' => 'September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 16: As the COVID-19 pandemic continues to disrupt global economic activity, developing Asia's gross domestic product (GDP) is now expected to contract by 0.7% in 2020, according to the Asian Development Outlook 2020. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"> The report published by the Asian Development Bank on September 15 states that it </span><span style="font-size:14.0pt">is the region's first recession in nearly 6 decades.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, the GDP is projected to grow by 6.8% in 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“Excluding high-income newly industrialized economies, regional GDP is expected to contract by 0.5% this year before growing by 7.2% next year,” states the report. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Softening demand and subdued food prices will keep inflation benign. The inflation forecast is revised down from 3.2% to 2.9% for 2020 and maintained at 2.3% for 2021.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The threat of a prolonged COVID-19 pandemic and a return to more stringent containment measures is the main risk to the outlook. While economies in developing Asia remain resilient, continued policy support is needed to underpin recovery, the report further states.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Bangladesh, Bhutan, and Nepal managed to grow in their recently completed fiscal years because COVID-19 affected only their tail end, says the report. They are set to continue expanding in the current fiscal year, though only minimally for Bhutan and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Inflationary pressures have begun to intensify in South Asia, especially in India, as supply chain disruption pushed up food prices. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">The outlook says </span></span><span style="font-size:14.0pt">physical and mental health is vital to post-pandemic recovery. The report’s theme chapter explores wellness, or the pursuit of holistic health and well-being. It examines the state of wellness in Asia and the Pacific and its growing role in the region’s economy. It discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12225', 'image' => '20200916124331_1600206206.Clipboard08.jpg', 'article_date' => '2020-09-16 12:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12476', 'article_category_id' => '1', 'title' => 'Long-Distance Transportation and Air Service to Resume from Tomorrow', 'sub_title' => '', 'summary' => 'September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The government has decided to resume long-distance transportation service as well as domestic flights from coming Thursday (September 17) instead of September 21.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of Ministers recently decided to resume the services that were disrupted since lockdown was imposed on March 24. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, it was reported that the inter-district transportation service and domestic flight would resume next week starting from September 21. However, Foreign Minister Pradeep Gyawali, who is the new government spokesperson, confirmed that the services will be available from Thursday itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the latest decision, long route vehicles will come into operation from September 17 along with domestic air service. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has also decided to allow hotels, restaurants as well as trekking and travel agencies to reopen from Thursday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Long-route vehicles and other means of public transportation should however adopt safety measures amid coronavirus pandemic. Such vehicles will be allowed to keep only one passenger in a row and must maintain physical distance among them. Public vehicles will not be allowed to take in passengers beyond the seating capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">All the passengers and drivers as well as helpers must compulsorily wear masks and gloves while sanitizers must be available at the door of the vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, transport entrepreneurs also discussed about ways to ensure safety measures anticipating large number of people returning to their homes during the upcoming Dashain festival.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Public vehicles will be allowed to charge a maximum of 50 percent amount to the fares fixed by the government. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the cabinet has decided to extend the closure of international borders for a month. As per the cabinet decision, the border entry points will remain closed until October 16. People will not be allowed to enter into the country unless there is an emergency. The government has decided to open two more border entry points for emergency purpose. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to government officials, Ilam's Pashupatinagar and Darchula have been opened for emergency visit along with 10 other border points. Likewise, Rasuwagadhi border has also been opened especially for transport of goods that have been stranded there since months. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12224', 'image' => '20200916111237_1600205792.4.jpg', 'article_date' => '2020-09-16 11:11:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12477', 'article_category_id' => '1', 'title' => 'Yuba Raj Khatiwada Appointed Special Financial Advisor to PM Oli', 'sub_title' => '', 'summary' => 'September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 16: The Council of Ministers has appointed former finance minister Yuba Raj Khatiwada as the special financial advisor to Prime Minsiter KP Oli. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Khatiwada, a former governor of Nepal Rastra Bank, was earlier appointed as finance minister by the Oli-led government after nominating him as a member of the National Assembly under the president’s quota. After his second term in upper house ended recently, Khatiwada resigned from the post of finance minister. Ten days after his resignation, he was appointed to a post where he enjoys all the privileges as a minister, informed Foreign Minister Pradeep Gyawali, who is the new spokesperson of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli was in favour of giving continuity to Khatiwada as finance minister. However, he was forced to choose Nepal Communist Party Vice Chairman Bamdev Gautam for the vacant post of upper house member under pressure from party leaders. Khatiwada could not be appointed finance minister for a third term after his tenure as upper house member ended on September 5. But he is expected to play a key role in decision making after being appointed PM Oli’s advisor, especially because Oli himself holds the portfolio of finance minister.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-16', 'modified' => '2020-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '12223', 'image' => '20200916112550_1600175427.yubaraj-khatiwada.jpg', 'article_date' => '2020-09-16 11:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12475', 'article_category_id' => '1', 'title' => 'Nepali Students Spending Billions of Rupees for Education in India', 'sub_title' => '', 'summary' => 'September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">September 15: India’s economy is getting richer by billions of rupees collected as educational fees from Nepali students every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The number of Nepali students in India is the highest among all foreign students, according to the records kept by the Human Resource Development Ministry of India. However, this fact is hardly talked about. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Indian educational institutions are being inclined towards Nepali students. On the other hand, policy makers in Nepal are hardly concerned about finding out the reason for thousands of Nepali students opting to study abroad. Neither are they concerned about retaining the students by giving better opportunities within the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">India has adopted a strategy of attracting foreign students. Nepali students fall in the top priority of India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The All India Survey on Higher Education 2018/19 made public by the Human Resource Development Ministry of India in 2019 shows that Nepali students top the list of foreign students studying in India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepali students constitute 26.88 percent of the total foreign students in India, states the survey report. During the review period, a total of 47,724 foreign students were enrolled in various educational institutions in India. Among them, there were around 13,000 students from Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Taking into consideration five years of average study in higher level, it is estimated that there are around 65,000 Nepali students in India. Nepali students spend billions of rupees on tuition fees, admission, food and accommodation as well as transportation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">In an average, one Nepali student spends around IRs 800,000 every year, according to the guardians who send their wards to India for higher education. Taking this into consideration, Nepali students spend around Rs 52 billion for studying in India every year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The expenses would be much higher if the educational fees paid by countless other Nepali students pursuing education in convents of Dehradun, Nainital, Lucknow and Darjeeling are also taken into account.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Deepak Shakya says Nepali students have been pursuing education abroad due to the failure of the Government of Nepal to ensure proper infrastructure and educational system here in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s education policy itself is not stable. The main reason for students going abroad is lack of adequate infrastructure and opportunities,” says Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Professor Dr Shakya says that the government must instead focus on adopting a policy of attracting foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Informed sources say that the Indian government has been providing various facilities to the educational institutes to make education accessible at affordable rates. The Government of India has been spending millions of rupees to attract foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The government of India reportedly approved budget of IRs 1.5 billion for promotional programmes between 2018 to 2020.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Human Resource Development Ministry of India has set a target to attract more than 200,000 foreign students in the next five years. The Indian government has told reputed institutes of India to allocate 15,000 seats for foreign students.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepali students have been opting to study abroad due to uncertain academic calendar, says educationist Indu Shekhar Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">“India still has three-year course for undergraduate level except for technical subjects. But we have four-year course here in Nepal. On top of that, the course does not get completed in time,” says Mishra. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12222', 'image' => '20200915040253_1600120553.45.jpg', 'article_date' => '2020-09-15 16:02:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12474', 'article_category_id' => '1', 'title' => 'Thousands of Workers Unemployed in Sunsari-Morang Industrial Corridor', 'sub_title' => '', 'summary' => 'September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 15: Thousands of workers have lost their jobs in the Sunsari-Morang Industrial Corridor within the last six months due to Covid-19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Out of 50,000 workers employeed in 500 different industries in the corridor, 15,000 have already been unemployed while 14,000 are kept in reserve.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Large industries that normally operated in three shifts have reduced their production to two shifts causing massive unemployment. Similarly, small and medium enterprises have cut off 30 percent of their employees due to the reduction in production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industrialists at the Sunsari-Morang Industrial Corridor inform that they are currently facing challenges of raw materials, labor management and manufacturing goods. The industries producing jute, yarn, noodles, oil, rice, milk, soap, cookies, and grains are currently operating in the corridor but most of them are producing only 60 to 70 percent of their actual capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Arihant Multi-Fibres and Raghupati Jute Mill, which once used to have the highest number of workers in the corridor, used to run their industries in three shifts. However, both the industries currently are carrying their production in two shifts only. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Raj Kumar Golchha, operator of Arihant Multifibres and Raghupati Jute Mill informed that the reduction in number of shifts has left 30 percent of the workers unemployed. “We are employing workers in 15/15 days alternatively (15-day work and 15-day rest),” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12221', 'image' => '20200915020224_599687943.Clipboard05.jpg', 'article_date' => '2020-09-15 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12473', 'article_category_id' => '1', 'title' => 'Kathmandu Marriott Hotel Bags Award at Asia Pacific Hotel Awards 2020 -2021', 'sub_title' => '', 'summary' => 'September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">September 15: Kathmandu Marriott Hotel has won the award for the Best Luxury Hotel of Nepal at the Asia Pacific Hotel Award 2020 -2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The newly established hotel said in a statement that it also won Nepal’s Best Employer Brand Award 2019, the Best Hotel Launch of the Year, the Best Bar Award, the Best Event Venue Award and the award for the Most Preferred Spa of 2019.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“This achievement was earned through hard work, shaped by the strength of the foundations we set within our very first year of operations. Our commitment to excellence was the overriding sentiment that drove every one of our associates on property to excel at their work,” the statement said.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Kathmandu Marriott Hotel, the award ceremony was hosted jointly by the Employer Branding Institute, Hotel Industry Leadership Award and World HRD Congress during a recent function.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also were delighted and humbled to know that Kathmandu Marriott Hotel was selected as Trip Advisor’s Traveler’s Choice Awards in 2020 placing us in the top 10% percentile of hotels in the world,” the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Kathmandu Marriott Hotel, located in the capital city of Kathmandu, said in the statement that it offers modern design, 5-star services and deluxe amenities. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12220', 'image' => '20200915010110_asdsfasd.jpg', 'article_date' => '2020-09-15 13:00:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12469', 'article_category_id' => '1', 'title' => 'Government Unable to Rescue Stranded Nepalis', 'sub_title' => '', 'summary' => 'September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.', 'content' => '<p><em>A sketch taken from the cover page of Nepal Labour Migration Report 2020. Photo Courtesy: MOLESS</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Nepali citizens stranded abroad after losing their jobs due to the coronavirus pandemic have not been able to come back to Nepal due to the lack of sufficient repatriation flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though the government had announced that it will rescue the stranded Nepalis by availing money from the Foreign Employment Welfare Fund, it has been able to bring back only a handful of stranded citizens considering the total number of Nepalis in need of rescue. The lack of flights has created difficulties to conduct the repatriation operation for the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Foreign Employment Board under the Ministry of Labor, Employment and Social Security, so far only 15 people have been brought from Malaysia by utilizing the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajan Shrestha, executive director of the Foreign Employment Board, informed that the government has not been able to bring the stranded workers from Bahrain, the UAE, Qatar, and other countries due to the lack of flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">"People willing to return back to Nepal on their expenses also aren’t able to return," Shrestha informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He urged the government to immediately make the flight operation convenient and rescue stranded Nepalis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Labor, around 50,000 Nepalis are willing to come to Nepal even by paying exorbitant airfare themselves. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12219', 'image' => '20200914021151_ffect.jpg', 'article_date' => '2020-09-14 14:09:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12472', 'article_category_id' => '1', 'title' => 'Domestic Flights and Long-Route Transportation Services to Resume from September 21', 'sub_title' => '', 'summary' => 'September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 15: The government has decided to resume domestic flights and long-distance transportation service from September 21. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Council of ministers held at the prime minister's official residence in Baluwatar on Monday (September 14) decided to ease the restrictions across the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">After attending the cabinet meeting, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that the government has decided to lift the ban on long-route vehicles and domestic flights effective from upcoming Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The decision comes amid warning from the transport entrepreneurs that they would defy government order of the ban is not lifted by September 17.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the ministry had submitted a proposal to the Covid-19 Crisis Management Centre (CCMC) seeking approval to resume domestic flights from October 1. However, due to pressure from the domestic airline companies, the government decided to reopen air service 10 days before the proposed date.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been repeatedly delaying resumption of air and public transportation services due to increase in Covid-19 cases across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet meeting also decided to recommend the name of NCP Vice Chairman Bamdev Gautam as a member of the National Assembly to the President. There is a constitutional provision for the president to appoint three members of the upper house. Currently, one of the three posts is vacant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the cabinet could not decide about the appointment of the CEO of Nepal Electricity Authority in the vacant place after retirement of Kul Man Ghising, who has become a public figure for ending power cuts in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> Ghising, whose term ended on Sunday, was proposed for another term but Prime Minister KP Oli raised the issue of legal problems in reappointing him.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-15', 'modified' => '2020-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '12218', 'image' => '20200915112131_20200805015856_nepali_flights.jpg', 'article_date' => '2020-09-15 11:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12471', 'article_category_id' => '1', 'title' => 'Ban on Import of Liquor Encourages Smuggling: Importers', 'sub_title' => '', 'summary' => 'September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 14: Imported liquor is running out of stock in the country due to the ban imposed by the government some five and a half months ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government banned foreign liquor in line with its policy to ban the import of luxurious goods in late March.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Nepal used to import foreign liquor worth billions of rupees each year. However, with the ban in force, such imported liquor is running out of stock. With the festive season just around the corner, importers anticipate smuggling of liquor into the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The liquor market used to become vibrant during September for the upcoming Dashain festival. The production and sale of liquor used to skyrocket until November. However, the market is inactive this year due to the ban along with the measures to curb coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The intention of the government to ban luxurious goods including liquor is believed to improve the country’s balance of payments and foreign exchange reserve. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Dealers have urged the government to lift the ban on import of foreign liquor stating that the country’s balance of payments is in surplus and the foreign exchange reserve has not been affected by the fear of decline in remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">They argue that the ban on import of foreign liquor would only encourage smuggling of the same products, especially during the festive season. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12217', 'image' => '20200914041225_1305287472234.jpg', 'article_date' => '2020-09-14 16:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12468', 'article_category_id' => '1', 'title' => 'Production of 300 Tons of Sub-Standard Steel of Jagadamba Banned ', 'sub_title' => '', 'summary' => 'September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 14: Nepal Bureau of Standards and Metrology has banned the sale and distribution of Jagdamba Steels, the main product of Shankar Group. Stating that the steel produced by the company were of poor quality, the bureau banned the sale and distribution of 300 tons of steel rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The bureau informed that the sale and distribution of the company's TMT bar in Bara has been stopped after they found certain amount of carbon and sulfur in the sample of 16 mm rod collected for testing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Bishwa Babu Pudasaini, said they found the product was not as per the specified criteria. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He further informed that the sale was banned as the company could not give satisfactory explanation to the bureau regarding the excessive amount of carbon and sulphur in the product.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the department has also suspended the permission of the company to produce 16 mm rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The company will be allowed to produces 16 mm rods only of the product meets the criteria prescribed by the bureau. Nevertheless, the company will be able to produce other types of rods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Although the department has set a maximum value of carbon at 0.30 percent for the production of iron rods, the company has kept the amount at 0.35 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Similarly, the value of sulfur used in rod production should be 0.055 percent but the company has used 0.060 percent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12216', 'image' => '20200914010519_1600032028.4.jpg', 'article_date' => '2020-09-14 13:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12467', 'article_category_id' => '1', 'title' => 'MCC Grant Agreement Risks Running Out of Time', 'sub_title' => '', 'summary' => 'September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 14: The government has not been able to present the Millennium Challenge Corporation (MCC) grant agreement for endorsement due to the demand for amending the agreement from various quarters including the ruling Nepal Communist Party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, the cross-border transmission line project funded by the US government should have been implemented within five years of signing the agreement. However, there are high chances of losing this project due to the inordinate delay in endorsing the MCC grant agreement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to sources at the Finance Ministry, they have not been able to hold any discussions with the donor agency concerned after the term of Yuba Raj Khatiwada as finance minister ended recently. Officials at the ministry say that the government needs to seek a political solution to the problem because the issue was raised at the political level. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The finance ministry is ready to amend the agreement after the dispute at the political level is settled.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The term of the project expired on June 30. Authorities have been trying to extend the project citing crisis created by coronavirus pandemic but to no avail.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepali Congress and other fringe parties have been demanding immediate endorsement of the MCC grant agreement but the ruling NCP has been long wrangling with the issue. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12215', 'image' => '20200914112314_1600032154.2.jpg', 'article_date' => '2020-09-14 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12465', 'article_category_id' => '1', 'title' => 'Life Insurance Companies Investing in Real Estate ', 'sub_title' => '', 'summary' => 'September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">September 14: Life insurance companies have started investing in real estate business and infrastructure soon after they were given permission to invest in these sectors. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Issuing the ‘Insurer’s Investment Guideline, 2075’, the Insurance Board has made arrangement to allow companies to make capital or loan investment in real estate business and construction of infrastructure such as agriculture, tourism and water resources. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There are currently 19 life insurance companies operating in Nepal. By the end of the last Fiscal Year (FY), they have invested Rs 284.67 billion in deposits of Bank and Financial Institution. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The life insurance companies can invest in various funds including life insurance funds. However, they must have enough money to pay immediately. According to the Insurance Board, as of last July, life insurance companies have invested Rs 362.4 million in real estate business. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Companies will be able to invest a maximum of 5 percent of their reserve capital in real estate. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the companies have invested Rs 7.66 billion in sectors like agriculture, tourism and water resources. There is an arrangement to invest maximum 20 percent of the reserve capital in the field of infrastructure construction. Earlier, only 5 percent of the maximum amount could be invested in such areas. The companies say that they are increasing their investment in the field of infrastructure construction after the limit has been increased. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the investment guideline, the insurance companies can invest in bank deposits, bank shares, ordinary shares of listed companies, debentures of public companies, government bonds, mutual funds, real estate, infrastructure construction and other sectors. Insurance companies have been open to invest in debentures since 2075. Since then, life insurance companies have invested Rs 5 billion in debentures. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12214', 'image' => '20200914103745_20200417105653_Beema-Samiti.jpg', 'article_date' => '2020-09-14 10:36:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12470', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12213', 'image' => '20200914021600_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 14:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12464', 'article_category_id' => '1', 'title' => 'Investments of BFIs Becoming Riskier', 'sub_title' => '', 'summary' => 'September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 13: The lockdown and prohibitory order enforced by the government in the country to control the spread of coronavirus has become an impediment in loan collection of banks, which has put their investments at risk. Even though the loan collection was satisfactory until the month of Ashad (mid-June to mid-July) in the last fiscal year, investments have become riskier with the reduction in the loan collection since then. Bankers expressed that they have had to face the double problem of not having any alternative investment options and the subsequent increase in their liquidity.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Bankers said that all of the banks in Chitwan have no new investment as well as no new loans. Ishwori Nepane, the manager of Rastriya Banijya Bank, Bharatpur branch, said that the lack of new investments and loan collections has increased their risks. “While the old loans have stopped being collected, there have been no new investments either,” he said, adding, “The depositors need to keep being paid their interest instead.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that while the interest payments and service renewals were satisfactory until the end of Ashad, they have completely stopped now. He believes that this situation has arose because people have started to prioritize their health and daily living over new investments and payment of loans because of COVID-19.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Even though the investments in new industries, infrastructures and constructions had stopped, there used to be some investments in the agricultural sector. However, after the month of Shrawan (mid-July to mid-August), even this sector has been declining,” said Dinesh Babu Nepal, the manager of Agriculture Development Bank, Hakimchowk branch. “Even though new entrepreneurs had shown interest to invest in the agricultural sector during the first week after the lockdown was lifted, the process has now come to a standstill.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the debtors paying for old loans are very low now. There are even less new investors. “Investment in the agricultural sector has been affected as many agricultural products had previously been wasted because of the lack of proper market value,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Many bankers claimed that even their regular customers aren’t interested in getting new loans. “Every sector has been affected. We are dependent on the finance sector,” said Dinesh Gautam, the brank head of Sanima Bank, Narayangarh, “However, the situation isn’t bad enough for us to be scared.” He said that if the effects of COVID-19 prevail for a long time, the finance sector will shut down, which may lead to situations like late repayment of loans and in some cases, bad debts.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The effects have not been that bad even with the lack of loan collection and increase in liquidity in banks. Financial institutions will need a few years to come back to their old condition even after the situation start getting back to normal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> Kapil Dev Subedi of Chitwan, who is currently getting his doctorate on ‘Corporate Investment and Financing’ explained that the effects of the current situation may not be visible at the moment but it will start to appear gradually in the future. “Higher the confusion amongst the investors and the debtors, higher the risk for the banks,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He said that sectors like tourism, automobile and real estate have become riskier, which then makes the investments in this area more at risk. “The banks that have diversified their investments have less risks,” he said, adding, “Banks that have invested more in one sector are facing higher risks.” He suggested that more investments should be made in sectors that have the potential to get debt relief and to attract refinancing investments.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, risks can be reduced if investments are increased for the hydropower, agricultural and pharmaceutical sectors. </span></span></p> ', 'published' => true, 'created' => '2020-09-13', 'modified' => '2020-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '12212', 'image' => '20200913053312_Danger_risk.jpg', 'article_date' => '2020-09-13 17:32:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12466', 'article_category_id' => '1', 'title' => 'Lockdown and Restriction Bring Industries down to their Knees', 'sub_title' => '', 'summary' => 'September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 14: Industries in the Bara-Parsa Industrial Corridor, which has been under a four-month-long shutdown, have been badly affected by the recent prohibitory order imposed since a month-and-a-half. Production in most of the industries has declined significantly as the government has recently tightened restrictions to control the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">High vigilance was adopted in Birgunj since last week of July with a soon surge in number of infections among the workers. A ban was imposed in Birgunj and surrounding areas from July 25. Production in the corridor was affected soon after the local administration issued a restraining order in the neighboring Bara district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Subodh Gupta, senior vice-president of the Birgunj Chamber of Commerce and Industry informed that the production has been badly affected due to the recent increase in the number of coronavirus infection and tight regulation in public movement imposed by the local administration. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Gupta, who is also the president of the Nepal Rice Oil and Pulses Industries Association, informed that the production has decreased due to the panic among the workers. "Industrialists and workers alike are afraid to enter the industry,” he informed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-14', 'modified' => '2020-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '12211', 'image' => '20200914104430_20200910030746_1599687943.Clipboard05.jpg', 'article_date' => '2020-09-14 10:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
