May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years…
May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years…
May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate…
May 1: The situation of forest fires is getting worse across the…
May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record.…
May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this…
May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector.…
May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel…
May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on…
May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene.…
May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year.…
International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working…
April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in…
The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday.…
April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu.…
April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years.…
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The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', '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' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', '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' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', '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
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The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', '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
