NEWS

Nepal Bankers’ Association urges Customers to Promote Digital Banking

Aug 18, 2020 0 1 minutes 27 seconds to read

August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of…

realme Launches 4 New AIoT Devices

Aug 18, 2020 0 5 minutes 41 seconds to read

August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market.…

Local Products Get Good Market after Closure of Nepal-India Border

Aug 18, 2020 0 2 minutes 46 seconds to read

August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of…

Demand for Drugs Declines in Nepal

Aug 18, 2020 0 1 minutes 53 seconds to read

August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection.…

NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights

Aug 18, 2020 0 3 minutes 1 seconds to read

August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of…

DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’

Aug 17, 2020 0 2 minutes 10 seconds to read

August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19…

Profit and Premium Collection of Life Insurance Companies Decline

Aug 17, 2020 0 4 minutes 51 seconds to read

August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector.…

High Court Clears Way for Bhatta to Assume office at IBN

Aug 17, 2020 0 1 minutes 28 seconds to read

August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his…

Government Working to Release Edible Goods Stuck at Birgunj Dry port

Aug 17, 2020 0 1 minutes 43 seconds to read

August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port.…

Fertilizer Shortage to Ease After 20 Days

Aug 17, 2020 0 1 minutes 41 seconds to read

August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of…

NOC Hikes Price of Petroleum Products

Aug 17, 2020 0 1 minutes 5 seconds to read

August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16) midnight.…

Bilateral Trade with China Declines due to Covid-19

Aug 16, 2020 0 2 minutes 2 seconds to read

August 16: Nepal’s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic.…

Dividend Capacity of Commercial Banks Decline

Aug 16, 2020 0 5 minutes 14 seconds to read

August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus…

Shangri~La Village Resort Bags ‘Special Awards’

Aug 16, 2020 0 1 minutes 28 seconds to read

August 16: Shangri~La Village Resort, Pokhara has been awarded with two special…

East-West Electric Railway in Dispute

Aug 16, 2020 0 2 minutes 35 seconds to read

August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition.…

< previous561562563564565566567568569next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers&rsquo; Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers&rsquo; Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'realme Launches 4 New AIoT Devices ',
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			'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p>

<p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme&rsquo;s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. &ldquo;Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual&rsquo;s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,&rdquo; the company stated.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. &ldquo;With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,&rdquo; said the company. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;It&rsquo;s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,&rdquo; reads the statement. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme&rsquo;s iconic yellow.&nbsp; </span></span></p>

<p>&nbsp;</p>

<table cellspacing="0" style="border-collapse:collapse">
	<tbody>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">Products&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colour Options&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme watch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 7,799&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme band &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 2,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 6,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black, White, Yellow&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p>&nbsp;</p>
			</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ',
			'sub_title' => '',
			'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prior to the lockdown, customers from Nepal used to spend an average of&nbsp; Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,&rdquo; he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12340',
			'article_category_id' => '1',
			'title' => 'Demand for Drugs Declines in Nepal ',
			'sub_title' => '',
			'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor&#39;s prescription have dropped dramatically.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,&rdquo; informed Ghimire. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the business plan has strategies to reinforce NAC&rsquo;s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,&rdquo; says Ghimire, adding, &ldquo;But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12338',
			'article_category_id' => '1',
			'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’',
			'sub_title' => '',
			'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether nine companies had filed application to supply the medicine out of which the department selected three companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
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			'description' => '',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12337',
			'article_category_id' => '1',
			'title' => 'Profit and Premium Collection of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Met Life&rsquo;s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time.&nbsp; Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,&rdquo; he said, &ldquo;However, that didn&rsquo;t happen.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers&rsquo; Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. &ldquo;There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Insurance agents have to physically visit the customers&rsquo; residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;Insurance agents have to go from residence to residence to get clients,&rdquo; he said, &ldquo;But it is not possible to do this because of the virus. This has affected the business.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. &ldquo;Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,&rdquo; he said, &ldquo;It will be very challenging for us to earn profits in the future due to this situation.&rdquo;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12336',
			'article_category_id' => '1',
			'title' => 'High Court Clears Way for Bhatta to Assume office at IBN',
			'sub_title' => '',
			'summary' => 'August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">After a preliminary hearing on Sunday (August 16), a division bench of high court judges Thakur Prasad Sharma and Ishwar Raj Acharya decided not to give continuity to interim order issued earlier to bar Bhatta from assuming office in capacity of the CEO of Investment Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Bhatta can now start regular work at the board. He was appointed CEO of the board on August 5.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Information Officer at the high court, Dhruva Subedi, informed that high court judges Sharma and Acharya decided not to give continuity to the interim order issued by a single bench of chief judge Nahakul Subedi ordering the government not to implement its decision to appoint Bhatta as CEO of the board until the next hearing on August 16. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Advocate Jaya Bahadur Bhujel had filed a writ petition on August 10 challenging the appointment of Bhatta as the CEO of Investment Board. Bhujel argued that Bhatta lacks the experience required to be appointed as the CEO of investment board. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12083',
			'image' => '20200817031036_20200812104902_1597201344.Sushil_bhatta.jpg',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12335',
			'article_category_id' => '1',
			'title' => 'Government Working to Release Edible Goods Stuck at Birgunj Dry port',
			'sub_title' => '',
			'summary' => 'August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. Those goods, including peas, pepper, dates and beetle nuts were being &nbsp;imported without the prior approval from the Department of Food Technology and Quality Control (DFTQC).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The government has finally decided to back off from its stance to hold the food items.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&nbsp;The Customs Department had sought the opinion of the Ministry of Industry, Commerce and Supplies regarding the customs clearance of goods stopped at the port.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">An official from the Ministry of Industry, Commerce and Supplies informed New Business Age that the ministry is preparing to allow the import of the goods with the approval from the Ministry of Agriculture and Livestock Development. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&quot;If the Ministry of Agriculture decides to allow the import, our ministry will take a one off decision to allow the entry of those goods. We have already initiated the homework for this,&quot; a senior official at the Ministry of Industry, Commerce and Supplies informed NBA.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, customs officials are also in favour if allowing the entry of goods that have already arrived.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Industry, Commerce and Supplies is preparing to take the proposal to release the goods to the cabinet if the&nbsp; agriculture ministry gives approval.</span></span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12334',
			'article_category_id' => '1',
			'title' => 'Fertilizer Shortage to Ease After 20 Days',
			'sub_title' => '',
			'summary' => 'August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India. The fertilizers, which are being imported by the agriculture ministry, were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks ago. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Out of 21,500 metric tons of urea purchased by the ministry, only 250 metric tons is arriving in Birgunj on Monday (August 17). The country is currently reeling under acute shortage of urea, which is essential for good harvest. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons but the ministry has a stock of very little urea left.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior agriculture expert Sishir Pun told New Business Age that the Nepal-bound urea will take at least 20 more days to arrive here from Kolkata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. The goods got stranded in Gujrat due to the lockdown imposed by the governments of both India and Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12333',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Price of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16) midnight. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16)<strong> </strong>midnight<strong>. </strong></span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the new price adjustment, petrol will now be sold for 105 rupees per liter and diesel and kerosene for 91 rupees per liter each.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices of cooking gas and aviation turbine fuel however remain unchanged.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">NOC said it decided to increase the price of petroleum products due to the increase in price of fuel in the international market, informed NOC spokesperson Binit Mani Upadhyaya. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices have been revised as per the new price list sent from Indian Oil Corporation. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12332',
			'article_category_id' => '1',
			'title' => 'Bilateral Trade with China Declines due to Covid-19 ',
			'sub_title' => '',
			'summary' => 'August 16: Nepal’s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 16: Nepal&rsquo;s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. Nepal&rsquo;s bilateral trade with China was not an exception. Both import and export to China declined in the review period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s bilateral trade with China was affected much before the government imposed lockdown on March 24. The border between the two countries was closed in late January after the deadly disease surfaced in Wuhan city of China. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data maintained by the Trade and Export Promotion Centre (TPEC), Nepal&rsquo;s export to China in fiscal year 2019/20 declined by 54 percent compared to the previous year. Nepal exported goods worth Rs 1.11 billion to China during the review period against the export of goods worth Rs 2.11 billion in the preceding year (FY 2018/19). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s export to China had been declining although the two countries had signed a transshipment agreement three years ago. However, the major reason for the decline last year has been attributed to the closure of border to contain the spread of coronavirus. Nepal&rsquo;s trade with China is almost nil in the last six months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s two main transit points in the northern border &ndash; Rasuwagadhi and Tatopani &ndash; has remained closed after coronavirus started spreading in China. Although the two customs points reopened after five months, the situation is yet to normalize.</span></span></span></span></p>

<p><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Landslides have caused additional problem in cross-border movement of cargo vehicles. Many containers have been stranded across the border due to road obstruction caused by natural disasters.</span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12331',
			'article_category_id' => '1',
			'title' => 'Dividend Capacity of Commercial Banks Decline',
			'sub_title' => '',
			'summary' => 'August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic. It is evident from the unaudited financial statements of the commercials banks towards the end of last fiscal year that there has been a decline in the dividends to be distributed to the shareholders.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The financial statements published by the banks show that the twenty-six commercial banks may distribute a dividend of 11.14 per cent on average. This rate is approximately 7.75 per cent less than the previous year. Twenty-eight commercial banks had distributed dividend on an average of 18.92 per cent from the profits of the fiscal year 2075/76. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nabil Bank has the potential for distributing the highest dividend. Nabil Bank had a distributable profit of 3.4 billion in the last fiscal year. The bank has a potential dividend rate of 30.13 per cent. Nabil had the capability of giving 35.34 per cent dividend in the previous fiscal year.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank has the potential of distributing 19.66 per cent dividend. The financial statements of Nepal Bank show that it can distribute 19.59 per cent dividend from the profits of the last fiscal year. The bank&rsquo;s statements show that the company has a distributable profit of Rs 2.21 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the financial statements of the previous year, Standard Chartered has the capacity to pay 18.92 per cent dividend, NIC Asia Bank 14.83 per cent and Himalayan Bank 13.97 per cent.&nbsp;Similarly, Prime, Lakshmi, and Nepal SBI Bank&#39;s ability to pay dividends is around 11 per cent. The government-owned Banijya bank has the capacity of distributing 11.50 &nbsp;per cent dividend.&nbsp;&nbsp;Similarly, the dividend capacity of Machhapuchhe, Prabhu, Bank of Kathmandu and NMB Bank is around 10 per cent. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the Chief Executive Officer (CEO) of Sanima Bank that has a capacity of a potential dividend of 12.72 per cent, said that they had already expected the decline in the bank&rsquo;s profit and distributable profit after the deterioration of the bank&rsquo;s condition in the fourth quarter due to the coronavirus pandemic. Dahal, who is also the chairman of Nepal Bankers&rsquo; Association, said that the bank was not able to do expected businesses due to the pandemic. According to him, the condition of the banks is deteriorating even after the exemption given by Nepal Rastra Bank on loan classification and loan-loss management. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The bank&rsquo;s condition worsened even after receiving the exemption on loan classification and loss management. The conditions would be much worse if we hadn&rsquo;t received the exemption,&rdquo; Dahal told New Business Age, adding, &ldquo;Many people used to comment on banks&rsquo; earning a lot. They must know about the reduction in profits and distributable profits now.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Sunil KC, the CEO of NMB Bank, believes that the dividend they are distributing is fine. He said that the profit and distributable profit of the bank decreased because they had done provisioning (loss management) more than what was required by Nepal Rastra Bank in this condition.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The CEO of Prabhu Bank Ashok Sherchan pointed that the allowances provided by the government to the debtor has reduced the interest income of banks, which ultimately reduced the profit and the dividend. According to him, the financial statements were affected by a reduction of 10 per cent on interest to borrowers and reduction of 2 per cent on interest on loan. &ldquo;The interest income of a single bank was reduced by about 40 to 45 per cent due to the discount on the interest on loan from Chaitra (mid-March/mid-April) to Ashad (mid-June/mid-July). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The income of overall commercial banks declined by around Rs 10 billion because of this. The income of banks, despite their performance, declined due to the monetary policy and the directives of the central bank,&rdquo; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The dividend rate of Global IME Bank, which had merged with Janata Bank, has come down to a single digit. Gobal IME Bank was successful in making a distributable profit of Rs 1.73 billion. &nbsp;Chandra Dhakal, the CEO of Global IME Bank, said that the bank has the potential of distributing a dividend of 9.13 per cent. He also added that all of the sectors have been affected by this pandemic. &ldquo;Banks are facing a situation where they need to save other businesses as well as themselves. This is also why the profits and the dividends of all banks have decreased,&rdquo; he stated. He believed that the income of banks are still dependent on how long the coronavirus affects the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Civil Bank has the lowest potential for dividends as of now. The bank has a dividend capacity of only 3.15 per cent. The distributable profit of Civil Bank is Rs 252.1 million.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has directed all of the banks to allocate 20 per cent from their net profit to their reserves and 1 per cent to the social security fund before separating the remaining fund as the distributable profit. The banks can then distribute dividends from the distributable profit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12330',
			'article_category_id' => '1',
			'title' => 'Shangri~La Village Resort Bags ‘Special Awards’',
			'sub_title' => '',
			'summary' => 'August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards.',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/TC_2020_LL_GREEN_BG_CMYK-mm.jpg" style="height:384px; width:364px" /></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards. The resort made the announcement in a recent press statement.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the resort, it has been awarded the 2020 Travellers&rsquo; Choice Award by Tripadvisor and the 2020 Customer Service Awards by Agoda based on ratings by its guests. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The resort has also expressed its gratitude to its customers for the &ldquo;wonderful support&rdquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;With this (achievement) our entire team is overwhelmed with the support we have received and feel more initiated to serve our guests. We are all set to welcome our guests again with the new hygiene standards and safety protocols,&rdquo; the statement reads.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shangri~La Village Resort is a resort located at Gharipatan that offers magnificent view of snow peaks and is just 5 minutes&#39; drive from Pokhara Airport and a 7-minute drive from Phewa Lake.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12329',
			'article_category_id' => '1',
			'title' => 'East-West Electric Railway in Dispute ',
			'sub_title' => '',
			'summary' => 'August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. The Department of Railway has signed a multi-year contract of Rs 28 billion for the construction of track bed of Kakadvitta-Inaruwa section of the electric railway in collusion with construction entrepreneurs by violating the existing rules.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Public Procurement Regulation-2064, a multi-year contract can be signed only after completing the basic works. However, the Ministry of Finance and the National Planning Commission have turned a blind eye to this provision for the construction of 106 km track bed of Kakadvitta-Inaruwa section. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">To move forward the multiyear contract, the MoF must ensure resources and the NPC must agree in principle that it is a &lsquo;National Pride Project&rsquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department had called for tender for the construction of the 106km long track bed on June 28 and July 1, where only domestic construction companies could participate. The government announced the tender notice of more than Rs 25 billion at a time when the coronavirus pandemic and lockdown has been weakening the economy and causing severe shortage of resources. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the dispute over this tender has reached the Patan High Court. A contractor says that an average of 2.5km will be divided among each construction company after the tender is divided into 54 packages. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Tej Kumar Kurumbang had filed a case at the High Court on August 2 seeking the court intervention to scrap the tender bid alleging that it had participated only limited construction companies. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Balram Mishra, director general of the department, said that the legal problem has been resolved after the court ordered the railway department to move ahead with the work on August 10. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Following the court order, the bidding process has already started,&quot; Mishra said, &quot;More than 125 construction companies have applied for the tender.&rdquo; </span></span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '12342',
			'article_category_id' => '1',
			'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers&rsquo; Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers&rsquo; Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12343',
			'article_category_id' => '1',
			'title' => 'realme Launches 4 New AIoT Devices ',
			'sub_title' => '',
			'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p>

<p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme&rsquo;s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. &ldquo;Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual&rsquo;s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,&rdquo; the company stated.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. &ldquo;With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,&rdquo; said the company. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;It&rsquo;s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,&rdquo; reads the statement. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme&rsquo;s iconic yellow.&nbsp; </span></span></p>

<p>&nbsp;</p>

<table cellspacing="0" style="border-collapse:collapse">
	<tbody>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">Products&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colour Options&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme watch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 7,799&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme band &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 2,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 6,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black, White, Yellow&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p>&nbsp;</p>
			</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12341',
			'article_category_id' => '1',
			'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ',
			'sub_title' => '',
			'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prior to the lockdown, customers from Nepal used to spend an average of&nbsp; Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,&rdquo; he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
			'modified' => '2020-08-18',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12340',
			'article_category_id' => '1',
			'title' => 'Demand for Drugs Declines in Nepal ',
			'sub_title' => '',
			'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor&#39;s prescription have dropped dramatically.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,&rdquo; informed Ghimire. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12087',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12339',
			'article_category_id' => '1',
			'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the business plan has strategies to reinforce NAC&rsquo;s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,&rdquo; says Ghimire, adding, &ldquo;But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
			'modified' => '2020-08-18',
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			'sortorder' => '12086',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12338',
			'article_category_id' => '1',
			'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’',
			'sub_title' => '',
			'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether nine companies had filed application to supply the medicine out of which the department selected three companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p>
',
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			'created' => '2020-08-17',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12337',
			'article_category_id' => '1',
			'title' => 'Profit and Premium Collection of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Met Life&rsquo;s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time.&nbsp; Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,&rdquo; he said, &ldquo;However, that didn&rsquo;t happen.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers&rsquo; Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. &ldquo;There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Insurance agents have to physically visit the customers&rsquo; residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;Insurance agents have to go from residence to residence to get clients,&rdquo; he said, &ldquo;But it is not possible to do this because of the virus. This has affected the business.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. &ldquo;Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,&rdquo; he said, &ldquo;It will be very challenging for us to earn profits in the future due to this situation.&rdquo;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12336',
			'article_category_id' => '1',
			'title' => 'High Court Clears Way for Bhatta to Assume office at IBN',
			'sub_title' => '',
			'summary' => 'August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">After a preliminary hearing on Sunday (August 16), a division bench of high court judges Thakur Prasad Sharma and Ishwar Raj Acharya decided not to give continuity to interim order issued earlier to bar Bhatta from assuming office in capacity of the CEO of Investment Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Bhatta can now start regular work at the board. He was appointed CEO of the board on August 5.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Information Officer at the high court, Dhruva Subedi, informed that high court judges Sharma and Acharya decided not to give continuity to the interim order issued by a single bench of chief judge Nahakul Subedi ordering the government not to implement its decision to appoint Bhatta as CEO of the board until the next hearing on August 16. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Advocate Jaya Bahadur Bhujel had filed a writ petition on August 10 challenging the appointment of Bhatta as the CEO of Investment Board. Bhujel argued that Bhatta lacks the experience required to be appointed as the CEO of investment board. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12083',
			'image' => '20200817031036_20200812104902_1597201344.Sushil_bhatta.jpg',
			'article_date' => '2020-08-17 15:10:05',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12335',
			'article_category_id' => '1',
			'title' => 'Government Working to Release Edible Goods Stuck at Birgunj Dry port',
			'sub_title' => '',
			'summary' => 'August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. Those goods, including peas, pepper, dates and beetle nuts were being &nbsp;imported without the prior approval from the Department of Food Technology and Quality Control (DFTQC).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The government has finally decided to back off from its stance to hold the food items.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&nbsp;The Customs Department had sought the opinion of the Ministry of Industry, Commerce and Supplies regarding the customs clearance of goods stopped at the port.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">An official from the Ministry of Industry, Commerce and Supplies informed New Business Age that the ministry is preparing to allow the import of the goods with the approval from the Ministry of Agriculture and Livestock Development. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&quot;If the Ministry of Agriculture decides to allow the import, our ministry will take a one off decision to allow the entry of those goods. We have already initiated the homework for this,&quot; a senior official at the Ministry of Industry, Commerce and Supplies informed NBA.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, customs officials are also in favour if allowing the entry of goods that have already arrived.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Industry, Commerce and Supplies is preparing to take the proposal to release the goods to the cabinet if the&nbsp; agriculture ministry gives approval.</span></span></span></p>
',
			'published' => true,
			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12082',
			'image' => '20200817022208_1597613433.4.jpg',
			'article_date' => '2020-08-17 14:21:28',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12334',
			'article_category_id' => '1',
			'title' => 'Fertilizer Shortage to Ease After 20 Days',
			'sub_title' => '',
			'summary' => 'August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India. The fertilizers, which are being imported by the agriculture ministry, were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks ago. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Out of 21,500 metric tons of urea purchased by the ministry, only 250 metric tons is arriving in Birgunj on Monday (August 17). The country is currently reeling under acute shortage of urea, which is essential for good harvest. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons but the ministry has a stock of very little urea left.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior agriculture expert Sishir Pun told New Business Age that the Nepal-bound urea will take at least 20 more days to arrive here from Kolkata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. The goods got stranded in Gujrat due to the lockdown imposed by the governments of both India and Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12081',
			'image' => '20200817122726_1597613093.Clipboard02.jpg',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12333',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Price of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16) midnight. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16)<strong> </strong>midnight<strong>. </strong></span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the new price adjustment, petrol will now be sold for 105 rupees per liter and diesel and kerosene for 91 rupees per liter each.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices of cooking gas and aviation turbine fuel however remain unchanged.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">NOC said it decided to increase the price of petroleum products due to the increase in price of fuel in the international market, informed NOC spokesperson Binit Mani Upadhyaya. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices have been revised as per the new price list sent from Indian Oil Corporation. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12080',
			'image' => '20200817103943_petrol_diesel_.jpg',
			'article_date' => '2020-08-17 10:39:11',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12332',
			'article_category_id' => '1',
			'title' => 'Bilateral Trade with China Declines due to Covid-19 ',
			'sub_title' => '',
			'summary' => 'August 16: Nepal’s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 16: Nepal&rsquo;s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. Nepal&rsquo;s bilateral trade with China was not an exception. Both import and export to China declined in the review period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s bilateral trade with China was affected much before the government imposed lockdown on March 24. The border between the two countries was closed in late January after the deadly disease surfaced in Wuhan city of China. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data maintained by the Trade and Export Promotion Centre (TPEC), Nepal&rsquo;s export to China in fiscal year 2019/20 declined by 54 percent compared to the previous year. Nepal exported goods worth Rs 1.11 billion to China during the review period against the export of goods worth Rs 2.11 billion in the preceding year (FY 2018/19). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s export to China had been declining although the two countries had signed a transshipment agreement three years ago. However, the major reason for the decline last year has been attributed to the closure of border to contain the spread of coronavirus. Nepal&rsquo;s trade with China is almost nil in the last six months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s two main transit points in the northern border &ndash; Rasuwagadhi and Tatopani &ndash; has remained closed after coronavirus started spreading in China. Although the two customs points reopened after five months, the situation is yet to normalize.</span></span></span></span></p>

<p><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Landslides have caused additional problem in cross-border movement of cargo vehicles. Many containers have been stranded across the border due to road obstruction caused by natural disasters.</span></span></p>
',
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			'created' => '2020-08-16',
			'modified' => '2020-08-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12079',
			'image' => '20200816062909_1597524482.4.jpg',
			'article_date' => '2020-08-16 18:28:37',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12331',
			'article_category_id' => '1',
			'title' => 'Dividend Capacity of Commercial Banks Decline',
			'sub_title' => '',
			'summary' => 'August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic. It is evident from the unaudited financial statements of the commercials banks towards the end of last fiscal year that there has been a decline in the dividends to be distributed to the shareholders.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The financial statements published by the banks show that the twenty-six commercial banks may distribute a dividend of 11.14 per cent on average. This rate is approximately 7.75 per cent less than the previous year. Twenty-eight commercial banks had distributed dividend on an average of 18.92 per cent from the profits of the fiscal year 2075/76. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nabil Bank has the potential for distributing the highest dividend. Nabil Bank had a distributable profit of 3.4 billion in the last fiscal year. The bank has a potential dividend rate of 30.13 per cent. Nabil had the capability of giving 35.34 per cent dividend in the previous fiscal year.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank has the potential of distributing 19.66 per cent dividend. The financial statements of Nepal Bank show that it can distribute 19.59 per cent dividend from the profits of the last fiscal year. The bank&rsquo;s statements show that the company has a distributable profit of Rs 2.21 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the financial statements of the previous year, Standard Chartered has the capacity to pay 18.92 per cent dividend, NIC Asia Bank 14.83 per cent and Himalayan Bank 13.97 per cent.&nbsp;Similarly, Prime, Lakshmi, and Nepal SBI Bank&#39;s ability to pay dividends is around 11 per cent. The government-owned Banijya bank has the capacity of distributing 11.50 &nbsp;per cent dividend.&nbsp;&nbsp;Similarly, the dividend capacity of Machhapuchhe, Prabhu, Bank of Kathmandu and NMB Bank is around 10 per cent. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the Chief Executive Officer (CEO) of Sanima Bank that has a capacity of a potential dividend of 12.72 per cent, said that they had already expected the decline in the bank&rsquo;s profit and distributable profit after the deterioration of the bank&rsquo;s condition in the fourth quarter due to the coronavirus pandemic. Dahal, who is also the chairman of Nepal Bankers&rsquo; Association, said that the bank was not able to do expected businesses due to the pandemic. According to him, the condition of the banks is deteriorating even after the exemption given by Nepal Rastra Bank on loan classification and loan-loss management. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The bank&rsquo;s condition worsened even after receiving the exemption on loan classification and loss management. The conditions would be much worse if we hadn&rsquo;t received the exemption,&rdquo; Dahal told New Business Age, adding, &ldquo;Many people used to comment on banks&rsquo; earning a lot. They must know about the reduction in profits and distributable profits now.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Sunil KC, the CEO of NMB Bank, believes that the dividend they are distributing is fine. He said that the profit and distributable profit of the bank decreased because they had done provisioning (loss management) more than what was required by Nepal Rastra Bank in this condition.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The CEO of Prabhu Bank Ashok Sherchan pointed that the allowances provided by the government to the debtor has reduced the interest income of banks, which ultimately reduced the profit and the dividend. According to him, the financial statements were affected by a reduction of 10 per cent on interest to borrowers and reduction of 2 per cent on interest on loan. &ldquo;The interest income of a single bank was reduced by about 40 to 45 per cent due to the discount on the interest on loan from Chaitra (mid-March/mid-April) to Ashad (mid-June/mid-July). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The income of overall commercial banks declined by around Rs 10 billion because of this. The income of banks, despite their performance, declined due to the monetary policy and the directives of the central bank,&rdquo; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The dividend rate of Global IME Bank, which had merged with Janata Bank, has come down to a single digit. Gobal IME Bank was successful in making a distributable profit of Rs 1.73 billion. &nbsp;Chandra Dhakal, the CEO of Global IME Bank, said that the bank has the potential of distributing a dividend of 9.13 per cent. He also added that all of the sectors have been affected by this pandemic. &ldquo;Banks are facing a situation where they need to save other businesses as well as themselves. This is also why the profits and the dividends of all banks have decreased,&rdquo; he stated. He believed that the income of banks are still dependent on how long the coronavirus affects the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Civil Bank has the lowest potential for dividends as of now. The bank has a dividend capacity of only 3.15 per cent. The distributable profit of Civil Bank is Rs 252.1 million.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has directed all of the banks to allocate 20 per cent from their net profit to their reserves and 1 per cent to the social security fund before separating the remaining fund as the distributable profit. The banks can then distribute dividends from the distributable profit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12330',
			'article_category_id' => '1',
			'title' => 'Shangri~La Village Resort Bags ‘Special Awards’',
			'sub_title' => '',
			'summary' => 'August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards.',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/TC_2020_LL_GREEN_BG_CMYK-mm.jpg" style="height:384px; width:364px" /></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards. The resort made the announcement in a recent press statement.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the resort, it has been awarded the 2020 Travellers&rsquo; Choice Award by Tripadvisor and the 2020 Customer Service Awards by Agoda based on ratings by its guests. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The resort has also expressed its gratitude to its customers for the &ldquo;wonderful support&rdquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;With this (achievement) our entire team is overwhelmed with the support we have received and feel more initiated to serve our guests. We are all set to welcome our guests again with the new hygiene standards and safety protocols,&rdquo; the statement reads.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shangri~La Village Resort is a resort located at Gharipatan that offers magnificent view of snow peaks and is just 5 minutes&#39; drive from Pokhara Airport and a 7-minute drive from Phewa Lake.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12329',
			'article_category_id' => '1',
			'title' => 'East-West Electric Railway in Dispute ',
			'sub_title' => '',
			'summary' => 'August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. The Department of Railway has signed a multi-year contract of Rs 28 billion for the construction of track bed of Kakadvitta-Inaruwa section of the electric railway in collusion with construction entrepreneurs by violating the existing rules.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Public Procurement Regulation-2064, a multi-year contract can be signed only after completing the basic works. However, the Ministry of Finance and the National Planning Commission have turned a blind eye to this provision for the construction of 106 km track bed of Kakadvitta-Inaruwa section. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">To move forward the multiyear contract, the MoF must ensure resources and the NPC must agree in principle that it is a &lsquo;National Pride Project&rsquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department had called for tender for the construction of the 106km long track bed on June 28 and July 1, where only domestic construction companies could participate. The government announced the tender notice of more than Rs 25 billion at a time when the coronavirus pandemic and lockdown has been weakening the economy and causing severe shortage of resources. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the dispute over this tender has reached the Patan High Court. A contractor says that an average of 2.5km will be divided among each construction company after the tender is divided into 54 packages. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Tej Kumar Kurumbang had filed a case at the High Court on August 2 seeking the court intervention to scrap the tender bid alleging that it had participated only limited construction companies. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Balram Mishra, director general of the department, said that the legal problem has been resolved after the court ordered the railway department to move ahead with the work on August 10. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Following the court order, the bidding process has already started,&quot; Mishra said, &quot;More than 125 construction companies have applied for the tender.&rdquo; </span></span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '12342',
			'article_category_id' => '1',
			'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers&rsquo; Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers&rsquo; Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12343',
			'article_category_id' => '1',
			'title' => 'realme Launches 4 New AIoT Devices ',
			'sub_title' => '',
			'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p>

<p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme&rsquo;s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. &ldquo;Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual&rsquo;s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,&rdquo; the company stated.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. &ldquo;With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,&rdquo; said the company. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;It&rsquo;s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,&rdquo; reads the statement. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme&rsquo;s iconic yellow.&nbsp; </span></span></p>

<p>&nbsp;</p>

<table cellspacing="0" style="border-collapse:collapse">
	<tbody>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">Products&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colour Options&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme watch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 7,799&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme band &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 2,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 6,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black, White, Yellow&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p>&nbsp;</p>
			</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12341',
			'article_category_id' => '1',
			'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ',
			'sub_title' => '',
			'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prior to the lockdown, customers from Nepal used to spend an average of&nbsp; Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,&rdquo; he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Demand for Drugs Declines in Nepal ',
			'sub_title' => '',
			'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor&#39;s prescription have dropped dramatically.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,&rdquo; informed Ghimire. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12339',
			'article_category_id' => '1',
			'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the business plan has strategies to reinforce NAC&rsquo;s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,&rdquo; says Ghimire, adding, &ldquo;But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
			'modified' => '2020-08-18',
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			'description' => '',
			'sortorder' => '12086',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12338',
			'article_category_id' => '1',
			'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’',
			'sub_title' => '',
			'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether nine companies had filed application to supply the medicine out of which the department selected three companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
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			'description' => '',
			'sortorder' => '12085',
			'image' => '20200817052454_1597613342.Clipboard04.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12337',
			'article_category_id' => '1',
			'title' => 'Profit and Premium Collection of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Met Life&rsquo;s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time.&nbsp; Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,&rdquo; he said, &ldquo;However, that didn&rsquo;t happen.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers&rsquo; Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. &ldquo;There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Insurance agents have to physically visit the customers&rsquo; residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;Insurance agents have to go from residence to residence to get clients,&rdquo; he said, &ldquo;But it is not possible to do this because of the virus. This has affected the business.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. &ldquo;Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,&rdquo; he said, &ldquo;It will be very challenging for us to earn profits in the future due to this situation.&rdquo;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12336',
			'article_category_id' => '1',
			'title' => 'High Court Clears Way for Bhatta to Assume office at IBN',
			'sub_title' => '',
			'summary' => 'August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">After a preliminary hearing on Sunday (August 16), a division bench of high court judges Thakur Prasad Sharma and Ishwar Raj Acharya decided not to give continuity to interim order issued earlier to bar Bhatta from assuming office in capacity of the CEO of Investment Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Bhatta can now start regular work at the board. He was appointed CEO of the board on August 5.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Information Officer at the high court, Dhruva Subedi, informed that high court judges Sharma and Acharya decided not to give continuity to the interim order issued by a single bench of chief judge Nahakul Subedi ordering the government not to implement its decision to appoint Bhatta as CEO of the board until the next hearing on August 16. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Advocate Jaya Bahadur Bhujel had filed a writ petition on August 10 challenging the appointment of Bhatta as the CEO of Investment Board. Bhujel argued that Bhatta lacks the experience required to be appointed as the CEO of investment board. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12083',
			'image' => '20200817031036_20200812104902_1597201344.Sushil_bhatta.jpg',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12335',
			'article_category_id' => '1',
			'title' => 'Government Working to Release Edible Goods Stuck at Birgunj Dry port',
			'sub_title' => '',
			'summary' => 'August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. Those goods, including peas, pepper, dates and beetle nuts were being &nbsp;imported without the prior approval from the Department of Food Technology and Quality Control (DFTQC).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The government has finally decided to back off from its stance to hold the food items.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&nbsp;The Customs Department had sought the opinion of the Ministry of Industry, Commerce and Supplies regarding the customs clearance of goods stopped at the port.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">An official from the Ministry of Industry, Commerce and Supplies informed New Business Age that the ministry is preparing to allow the import of the goods with the approval from the Ministry of Agriculture and Livestock Development. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&quot;If the Ministry of Agriculture decides to allow the import, our ministry will take a one off decision to allow the entry of those goods. We have already initiated the homework for this,&quot; a senior official at the Ministry of Industry, Commerce and Supplies informed NBA.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, customs officials are also in favour if allowing the entry of goods that have already arrived.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Industry, Commerce and Supplies is preparing to take the proposal to release the goods to the cabinet if the&nbsp; agriculture ministry gives approval.</span></span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12334',
			'article_category_id' => '1',
			'title' => 'Fertilizer Shortage to Ease After 20 Days',
			'sub_title' => '',
			'summary' => 'August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India. The fertilizers, which are being imported by the agriculture ministry, were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks ago. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Out of 21,500 metric tons of urea purchased by the ministry, only 250 metric tons is arriving in Birgunj on Monday (August 17). The country is currently reeling under acute shortage of urea, which is essential for good harvest. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons but the ministry has a stock of very little urea left.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior agriculture expert Sishir Pun told New Business Age that the Nepal-bound urea will take at least 20 more days to arrive here from Kolkata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. The goods got stranded in Gujrat due to the lockdown imposed by the governments of both India and Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12333',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Price of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16) midnight. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16)<strong> </strong>midnight<strong>. </strong></span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the new price adjustment, petrol will now be sold for 105 rupees per liter and diesel and kerosene for 91 rupees per liter each.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices of cooking gas and aviation turbine fuel however remain unchanged.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">NOC said it decided to increase the price of petroleum products due to the increase in price of fuel in the international market, informed NOC spokesperson Binit Mani Upadhyaya. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices have been revised as per the new price list sent from Indian Oil Corporation. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12332',
			'article_category_id' => '1',
			'title' => 'Bilateral Trade with China Declines due to Covid-19 ',
			'sub_title' => '',
			'summary' => 'August 16: Nepal’s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 16: Nepal&rsquo;s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. Nepal&rsquo;s bilateral trade with China was not an exception. Both import and export to China declined in the review period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s bilateral trade with China was affected much before the government imposed lockdown on March 24. The border between the two countries was closed in late January after the deadly disease surfaced in Wuhan city of China. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data maintained by the Trade and Export Promotion Centre (TPEC), Nepal&rsquo;s export to China in fiscal year 2019/20 declined by 54 percent compared to the previous year. Nepal exported goods worth Rs 1.11 billion to China during the review period against the export of goods worth Rs 2.11 billion in the preceding year (FY 2018/19). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s export to China had been declining although the two countries had signed a transshipment agreement three years ago. However, the major reason for the decline last year has been attributed to the closure of border to contain the spread of coronavirus. Nepal&rsquo;s trade with China is almost nil in the last six months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s two main transit points in the northern border &ndash; Rasuwagadhi and Tatopani &ndash; has remained closed after coronavirus started spreading in China. Although the two customs points reopened after five months, the situation is yet to normalize.</span></span></span></span></p>

<p><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Landslides have caused additional problem in cross-border movement of cargo vehicles. Many containers have been stranded across the border due to road obstruction caused by natural disasters.</span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12331',
			'article_category_id' => '1',
			'title' => 'Dividend Capacity of Commercial Banks Decline',
			'sub_title' => '',
			'summary' => 'August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic. It is evident from the unaudited financial statements of the commercials banks towards the end of last fiscal year that there has been a decline in the dividends to be distributed to the shareholders.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The financial statements published by the banks show that the twenty-six commercial banks may distribute a dividend of 11.14 per cent on average. This rate is approximately 7.75 per cent less than the previous year. Twenty-eight commercial banks had distributed dividend on an average of 18.92 per cent from the profits of the fiscal year 2075/76. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nabil Bank has the potential for distributing the highest dividend. Nabil Bank had a distributable profit of 3.4 billion in the last fiscal year. The bank has a potential dividend rate of 30.13 per cent. Nabil had the capability of giving 35.34 per cent dividend in the previous fiscal year.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank has the potential of distributing 19.66 per cent dividend. The financial statements of Nepal Bank show that it can distribute 19.59 per cent dividend from the profits of the last fiscal year. The bank&rsquo;s statements show that the company has a distributable profit of Rs 2.21 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the financial statements of the previous year, Standard Chartered has the capacity to pay 18.92 per cent dividend, NIC Asia Bank 14.83 per cent and Himalayan Bank 13.97 per cent.&nbsp;Similarly, Prime, Lakshmi, and Nepal SBI Bank&#39;s ability to pay dividends is around 11 per cent. The government-owned Banijya bank has the capacity of distributing 11.50 &nbsp;per cent dividend.&nbsp;&nbsp;Similarly, the dividend capacity of Machhapuchhe, Prabhu, Bank of Kathmandu and NMB Bank is around 10 per cent. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the Chief Executive Officer (CEO) of Sanima Bank that has a capacity of a potential dividend of 12.72 per cent, said that they had already expected the decline in the bank&rsquo;s profit and distributable profit after the deterioration of the bank&rsquo;s condition in the fourth quarter due to the coronavirus pandemic. Dahal, who is also the chairman of Nepal Bankers&rsquo; Association, said that the bank was not able to do expected businesses due to the pandemic. According to him, the condition of the banks is deteriorating even after the exemption given by Nepal Rastra Bank on loan classification and loan-loss management. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The bank&rsquo;s condition worsened even after receiving the exemption on loan classification and loss management. The conditions would be much worse if we hadn&rsquo;t received the exemption,&rdquo; Dahal told New Business Age, adding, &ldquo;Many people used to comment on banks&rsquo; earning a lot. They must know about the reduction in profits and distributable profits now.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Sunil KC, the CEO of NMB Bank, believes that the dividend they are distributing is fine. He said that the profit and distributable profit of the bank decreased because they had done provisioning (loss management) more than what was required by Nepal Rastra Bank in this condition.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The CEO of Prabhu Bank Ashok Sherchan pointed that the allowances provided by the government to the debtor has reduced the interest income of banks, which ultimately reduced the profit and the dividend. According to him, the financial statements were affected by a reduction of 10 per cent on interest to borrowers and reduction of 2 per cent on interest on loan. &ldquo;The interest income of a single bank was reduced by about 40 to 45 per cent due to the discount on the interest on loan from Chaitra (mid-March/mid-April) to Ashad (mid-June/mid-July). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The income of overall commercial banks declined by around Rs 10 billion because of this. The income of banks, despite their performance, declined due to the monetary policy and the directives of the central bank,&rdquo; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The dividend rate of Global IME Bank, which had merged with Janata Bank, has come down to a single digit. Gobal IME Bank was successful in making a distributable profit of Rs 1.73 billion. &nbsp;Chandra Dhakal, the CEO of Global IME Bank, said that the bank has the potential of distributing a dividend of 9.13 per cent. He also added that all of the sectors have been affected by this pandemic. &ldquo;Banks are facing a situation where they need to save other businesses as well as themselves. This is also why the profits and the dividends of all banks have decreased,&rdquo; he stated. He believed that the income of banks are still dependent on how long the coronavirus affects the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Civil Bank has the lowest potential for dividends as of now. The bank has a dividend capacity of only 3.15 per cent. The distributable profit of Civil Bank is Rs 252.1 million.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has directed all of the banks to allocate 20 per cent from their net profit to their reserves and 1 per cent to the social security fund before separating the remaining fund as the distributable profit. The banks can then distribute dividends from the distributable profit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12330',
			'article_category_id' => '1',
			'title' => 'Shangri~La Village Resort Bags ‘Special Awards’',
			'sub_title' => '',
			'summary' => 'August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards.',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/TC_2020_LL_GREEN_BG_CMYK-mm.jpg" style="height:384px; width:364px" /></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards. The resort made the announcement in a recent press statement.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the resort, it has been awarded the 2020 Travellers&rsquo; Choice Award by Tripadvisor and the 2020 Customer Service Awards by Agoda based on ratings by its guests. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The resort has also expressed its gratitude to its customers for the &ldquo;wonderful support&rdquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;With this (achievement) our entire team is overwhelmed with the support we have received and feel more initiated to serve our guests. We are all set to welcome our guests again with the new hygiene standards and safety protocols,&rdquo; the statement reads.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shangri~La Village Resort is a resort located at Gharipatan that offers magnificent view of snow peaks and is just 5 minutes&#39; drive from Pokhara Airport and a 7-minute drive from Phewa Lake.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12329',
			'article_category_id' => '1',
			'title' => 'East-West Electric Railway in Dispute ',
			'sub_title' => '',
			'summary' => 'August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. The Department of Railway has signed a multi-year contract of Rs 28 billion for the construction of track bed of Kakadvitta-Inaruwa section of the electric railway in collusion with construction entrepreneurs by violating the existing rules.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Public Procurement Regulation-2064, a multi-year contract can be signed only after completing the basic works. However, the Ministry of Finance and the National Planning Commission have turned a blind eye to this provision for the construction of 106 km track bed of Kakadvitta-Inaruwa section. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">To move forward the multiyear contract, the MoF must ensure resources and the NPC must agree in principle that it is a &lsquo;National Pride Project&rsquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department had called for tender for the construction of the 106km long track bed on June 28 and July 1, where only domestic construction companies could participate. The government announced the tender notice of more than Rs 25 billion at a time when the coronavirus pandemic and lockdown has been weakening the economy and causing severe shortage of resources. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the dispute over this tender has reached the Patan High Court. A contractor says that an average of 2.5km will be divided among each construction company after the tender is divided into 54 packages. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Tej Kumar Kurumbang had filed a case at the High Court on August 2 seeking the court intervention to scrap the tender bid alleging that it had participated only limited construction companies. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Balram Mishra, director general of the department, said that the legal problem has been resolved after the court ordered the railway department to move ahead with the work on August 10. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Following the court order, the bidding process has already started,&quot; Mishra said, &quot;More than 125 construction companies have applied for the tender.&rdquo; </span></span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '12342',
			'article_category_id' => '1',
			'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers&rsquo; Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers&rsquo; Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12343',
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			'title' => 'realme Launches 4 New AIoT Devices ',
			'sub_title' => '',
			'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p>

<p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme&rsquo;s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. &ldquo;Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual&rsquo;s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,&rdquo; the company stated.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. &ldquo;With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,&rdquo; said the company. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;It&rsquo;s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,&rdquo; reads the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p>

<p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p>

<p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">&ldquo;Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,&rdquo; reads the statement. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme&rsquo;s iconic yellow.&nbsp; </span></span></p>

<p>&nbsp;</p>

<table cellspacing="0" style="border-collapse:collapse">
	<tbody>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">Products&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colour Options&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme watch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 7,799&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme band &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 2,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black&nbsp;&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rs 6,999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black, White, Yellow&nbsp; </span></span></p>
			</td>
		</tr>
		<tr>
			<td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px">
			<p>&nbsp;</p>
			</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12341',
			'article_category_id' => '1',
			'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ',
			'sub_title' => '',
			'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prior to the lockdown, customers from Nepal used to spend an average of&nbsp; Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,&rdquo; he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12340',
			'article_category_id' => '1',
			'title' => 'Demand for Drugs Declines in Nepal ',
			'sub_title' => '',
			'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor&#39;s prescription have dropped dramatically.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,&rdquo; informed Ghimire. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12339',
			'article_category_id' => '1',
			'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights',
			'sub_title' => '',
			'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the business plan has strategies to reinforce NAC&rsquo;s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,&rdquo; says Ghimire, adding, &ldquo;But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-18',
			'modified' => '2020-08-18',
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			'sortorder' => '12086',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12338',
			'article_category_id' => '1',
			'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’',
			'sub_title' => '',
			'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether nine companies had filed application to supply the medicine out of which the department selected three companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p>
',
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			'created' => '2020-08-17',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12337',
			'article_category_id' => '1',
			'title' => 'Profit and Premium Collection of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Met Life&rsquo;s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time.&nbsp; Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,&rdquo; he said, &ldquo;However, that didn&rsquo;t happen.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers&rsquo; Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. &ldquo;There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,&rdquo; he said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Insurance agents have to physically visit the customers&rsquo; residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;Insurance agents have to go from residence to residence to get clients,&rdquo; he said, &ldquo;But it is not possible to do this because of the virus. This has affected the business.&rdquo;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. &ldquo;Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,&rdquo; he said, &ldquo;It will be very challenging for us to earn profits in the future due to this situation.&rdquo;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12336',
			'article_category_id' => '1',
			'title' => 'High Court Clears Way for Bhatta to Assume office at IBN',
			'sub_title' => '',
			'summary' => 'August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Patan High Court has cleared the hurdle for newly-appointed CEO of Investment Board Nepal (IBN), Sushil Bhatta, to assume his responsibilities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">After a preliminary hearing on Sunday (August 16), a division bench of high court judges Thakur Prasad Sharma and Ishwar Raj Acharya decided not to give continuity to interim order issued earlier to bar Bhatta from assuming office in capacity of the CEO of Investment Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Bhatta can now start regular work at the board. He was appointed CEO of the board on August 5.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Information Officer at the high court, Dhruva Subedi, informed that high court judges Sharma and Acharya decided not to give continuity to the interim order issued by a single bench of chief judge Nahakul Subedi ordering the government not to implement its decision to appoint Bhatta as CEO of the board until the next hearing on August 16. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Advocate Jaya Bahadur Bhujel had filed a writ petition on August 10 challenging the appointment of Bhatta as the CEO of Investment Board. Bhujel argued that Bhatta lacks the experience required to be appointed as the CEO of investment board. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12083',
			'image' => '20200817031036_20200812104902_1597201344.Sushil_bhatta.jpg',
			'article_date' => '2020-08-17 15:10:05',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12335',
			'article_category_id' => '1',
			'title' => 'Government Working to Release Edible Goods Stuck at Birgunj Dry port',
			'sub_title' => '',
			'summary' => 'August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 17: The Ministry of Industry, Commerce and Supplies has initiated the process to release all the edible goods that are currently held at Birgunj Dry Port. Those goods, including peas, pepper, dates and beetle nuts were being &nbsp;imported without the prior approval from the Department of Food Technology and Quality Control (DFTQC).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The government has finally decided to back off from its stance to hold the food items.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&nbsp;The Customs Department had sought the opinion of the Ministry of Industry, Commerce and Supplies regarding the customs clearance of goods stopped at the port.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">An official from the Ministry of Industry, Commerce and Supplies informed New Business Age that the ministry is preparing to allow the import of the goods with the approval from the Ministry of Agriculture and Livestock Development. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">&quot;If the Ministry of Agriculture decides to allow the import, our ministry will take a one off decision to allow the entry of those goods. We have already initiated the homework for this,&quot; a senior official at the Ministry of Industry, Commerce and Supplies informed NBA.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, customs officials are also in favour if allowing the entry of goods that have already arrived.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Industry, Commerce and Supplies is preparing to take the proposal to release the goods to the cabinet if the&nbsp; agriculture ministry gives approval.</span></span></span></p>
',
			'published' => true,
			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12082',
			'image' => '20200817022208_1597613433.4.jpg',
			'article_date' => '2020-08-17 14:21:28',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12334',
			'article_category_id' => '1',
			'title' => 'Fertilizer Shortage to Ease After 20 Days',
			'sub_title' => '',
			'summary' => 'August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 17: It will take another 20 days for the full consignment of Nepal-bound urea fertilizers to enter the country due to the delay in ports of India. The fertilizers, which are being imported by the agriculture ministry, were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks ago. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Out of 21,500 metric tons of urea purchased by the ministry, only 250 metric tons is arriving in Birgunj on Monday (August 17). The country is currently reeling under acute shortage of urea, which is essential for good harvest. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons but the ministry has a stock of very little urea left.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior agriculture expert Sishir Pun told New Business Age that the Nepal-bound urea will take at least 20 more days to arrive here from Kolkata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. The goods got stranded in Gujrat due to the lockdown imposed by the governments of both India and Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>
',
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			'created' => '2020-08-17',
			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12081',
			'image' => '20200817122726_1597613093.Clipboard02.jpg',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12333',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Price of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16) midnight. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 17: Nepal Oil Corporation (NOC) has increased the price of petroleum product effective from Sunday (August 16)<strong> </strong>midnight<strong>. </strong></span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">As per the new price adjustment, petrol will now be sold for 105 rupees per liter and diesel and kerosene for 91 rupees per liter each.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices of cooking gas and aviation turbine fuel however remain unchanged.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">NOC said it decided to increase the price of petroleum products due to the increase in price of fuel in the international market, informed NOC spokesperson Binit Mani Upadhyaya. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The prices have been revised as per the new price list sent from Indian Oil Corporation. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'modified' => '2020-08-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12080',
			'image' => '20200817103943_petrol_diesel_.jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12332',
			'article_category_id' => '1',
			'title' => 'Bilateral Trade with China Declines due to Covid-19 ',
			'sub_title' => '',
			'summary' => 'August 16: Nepal’s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 16: Nepal&rsquo;s overall foreign trade declined during last fiscal year due to the impact of Covid-19 pandemic. Nepal&rsquo;s bilateral trade with China was not an exception. Both import and export to China declined in the review period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s bilateral trade with China was affected much before the government imposed lockdown on March 24. The border between the two countries was closed in late January after the deadly disease surfaced in Wuhan city of China. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data maintained by the Trade and Export Promotion Centre (TPEC), Nepal&rsquo;s export to China in fiscal year 2019/20 declined by 54 percent compared to the previous year. Nepal exported goods worth Rs 1.11 billion to China during the review period against the export of goods worth Rs 2.11 billion in the preceding year (FY 2018/19). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s export to China had been declining although the two countries had signed a transshipment agreement three years ago. However, the major reason for the decline last year has been attributed to the closure of border to contain the spread of coronavirus. Nepal&rsquo;s trade with China is almost nil in the last six months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s two main transit points in the northern border &ndash; Rasuwagadhi and Tatopani &ndash; has remained closed after coronavirus started spreading in China. Although the two customs points reopened after five months, the situation is yet to normalize.</span></span></span></span></p>

<p><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Landslides have caused additional problem in cross-border movement of cargo vehicles. Many containers have been stranded across the border due to road obstruction caused by natural disasters.</span></span></p>
',
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			'created' => '2020-08-16',
			'modified' => '2020-08-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12079',
			'image' => '20200816062909_1597524482.4.jpg',
			'article_date' => '2020-08-16 18:28:37',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12331',
			'article_category_id' => '1',
			'title' => 'Dividend Capacity of Commercial Banks Decline',
			'sub_title' => '',
			'summary' => 'August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 16: The profit and dividend capacity of all commercial banks have declined in the last fiscal year due to the crisis caused by the coronavirus pandemic. It is evident from the unaudited financial statements of the commercials banks towards the end of last fiscal year that there has been a decline in the dividends to be distributed to the shareholders.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The financial statements published by the banks show that the twenty-six commercial banks may distribute a dividend of 11.14 per cent on average. This rate is approximately 7.75 per cent less than the previous year. Twenty-eight commercial banks had distributed dividend on an average of 18.92 per cent from the profits of the fiscal year 2075/76. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nabil Bank has the potential for distributing the highest dividend. Nabil Bank had a distributable profit of 3.4 billion in the last fiscal year. The bank has a potential dividend rate of 30.13 per cent. Nabil had the capability of giving 35.34 per cent dividend in the previous fiscal year.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank has the potential of distributing 19.66 per cent dividend. The financial statements of Nepal Bank show that it can distribute 19.59 per cent dividend from the profits of the last fiscal year. The bank&rsquo;s statements show that the company has a distributable profit of Rs 2.21 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the financial statements of the previous year, Standard Chartered has the capacity to pay 18.92 per cent dividend, NIC Asia Bank 14.83 per cent and Himalayan Bank 13.97 per cent.&nbsp;Similarly, Prime, Lakshmi, and Nepal SBI Bank&#39;s ability to pay dividends is around 11 per cent. The government-owned Banijya bank has the capacity of distributing 11.50 &nbsp;per cent dividend.&nbsp;&nbsp;Similarly, the dividend capacity of Machhapuchhe, Prabhu, Bank of Kathmandu and NMB Bank is around 10 per cent. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the Chief Executive Officer (CEO) of Sanima Bank that has a capacity of a potential dividend of 12.72 per cent, said that they had already expected the decline in the bank&rsquo;s profit and distributable profit after the deterioration of the bank&rsquo;s condition in the fourth quarter due to the coronavirus pandemic. Dahal, who is also the chairman of Nepal Bankers&rsquo; Association, said that the bank was not able to do expected businesses due to the pandemic. According to him, the condition of the banks is deteriorating even after the exemption given by Nepal Rastra Bank on loan classification and loan-loss management. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The bank&rsquo;s condition worsened even after receiving the exemption on loan classification and loss management. The conditions would be much worse if we hadn&rsquo;t received the exemption,&rdquo; Dahal told New Business Age, adding, &ldquo;Many people used to comment on banks&rsquo; earning a lot. They must know about the reduction in profits and distributable profits now.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Sunil KC, the CEO of NMB Bank, believes that the dividend they are distributing is fine. He said that the profit and distributable profit of the bank decreased because they had done provisioning (loss management) more than what was required by Nepal Rastra Bank in this condition.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The CEO of Prabhu Bank Ashok Sherchan pointed that the allowances provided by the government to the debtor has reduced the interest income of banks, which ultimately reduced the profit and the dividend. According to him, the financial statements were affected by a reduction of 10 per cent on interest to borrowers and reduction of 2 per cent on interest on loan. &ldquo;The interest income of a single bank was reduced by about 40 to 45 per cent due to the discount on the interest on loan from Chaitra (mid-March/mid-April) to Ashad (mid-June/mid-July). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The income of overall commercial banks declined by around Rs 10 billion because of this. The income of banks, despite their performance, declined due to the monetary policy and the directives of the central bank,&rdquo; he said.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The dividend rate of Global IME Bank, which had merged with Janata Bank, has come down to a single digit. Gobal IME Bank was successful in making a distributable profit of Rs 1.73 billion. &nbsp;Chandra Dhakal, the CEO of Global IME Bank, said that the bank has the potential of distributing a dividend of 9.13 per cent. He also added that all of the sectors have been affected by this pandemic. &ldquo;Banks are facing a situation where they need to save other businesses as well as themselves. This is also why the profits and the dividends of all banks have decreased,&rdquo; he stated. He believed that the income of banks are still dependent on how long the coronavirus affects the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Civil Bank has the lowest potential for dividends as of now. The bank has a dividend capacity of only 3.15 per cent. The distributable profit of Civil Bank is Rs 252.1 million.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has directed all of the banks to allocate 20 per cent from their net profit to their reserves and 1 per cent to the social security fund before separating the remaining fund as the distributable profit. The banks can then distribute dividends from the distributable profit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12330',
			'article_category_id' => '1',
			'title' => 'Shangri~La Village Resort Bags ‘Special Awards’',
			'sub_title' => '',
			'summary' => 'August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards.',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/TC_2020_LL_GREEN_BG_CMYK-mm.jpg" style="height:384px; width:364px" /></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: Shangri~La Village Resort, Pokhara has been awarded with two special awards. The resort made the announcement in a recent press statement.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the resort, it has been awarded the 2020 Travellers&rsquo; Choice Award by Tripadvisor and the 2020 Customer Service Awards by Agoda based on ratings by its guests. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The resort has also expressed its gratitude to its customers for the &ldquo;wonderful support&rdquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;With this (achievement) our entire team is overwhelmed with the support we have received and feel more initiated to serve our guests. We are all set to welcome our guests again with the new hygiene standards and safety protocols,&rdquo; the statement reads.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shangri~La Village Resort is a resort located at Gharipatan that offers magnificent view of snow peaks and is just 5 minutes&#39; drive from Pokhara Airport and a 7-minute drive from Phewa Lake.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12329',
			'article_category_id' => '1',
			'title' => 'East-West Electric Railway in Dispute ',
			'sub_title' => '',
			'summary' => 'August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 16: The proposed East-West electric railway has courted controversy after the tender notice was called without securing resources and land acquisition. The Department of Railway has signed a multi-year contract of Rs 28 billion for the construction of track bed of Kakadvitta-Inaruwa section of the electric railway in collusion with construction entrepreneurs by violating the existing rules.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Public Procurement Regulation-2064, a multi-year contract can be signed only after completing the basic works. However, the Ministry of Finance and the National Planning Commission have turned a blind eye to this provision for the construction of 106 km track bed of Kakadvitta-Inaruwa section. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">To move forward the multiyear contract, the MoF must ensure resources and the NPC must agree in principle that it is a &lsquo;National Pride Project&rsquo;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department had called for tender for the construction of the 106km long track bed on June 28 and July 1, where only domestic construction companies could participate. The government announced the tender notice of more than Rs 25 billion at a time when the coronavirus pandemic and lockdown has been weakening the economy and causing severe shortage of resources. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the dispute over this tender has reached the Patan High Court. A contractor says that an average of 2.5km will be divided among each construction company after the tender is divided into 54 packages. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Tej Kumar Kurumbang had filed a case at the High Court on August 2 seeking the court intervention to scrap the tender bid alleging that it had participated only limited construction companies. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Balram Mishra, director general of the department, said that the legal problem has been resolved after the court ordered the railway department to move ahead with the work on August 10. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Following the court order, the bidding process has already started,&quot; Mishra said, &quot;More than 125 construction companies have applied for the tender.&rdquo; </span></span></span></span></p>

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