April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European…
April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European…
April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel…
April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the…
April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the…
Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was…
April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of…
April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday…
April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of…
April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five…
April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and…
April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their…
April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since…
April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in…
April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the…
April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in…
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As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20846', 'article_category_id' => '1', 'title' => 'Govt Launches Automatic Approval for FDI as Investment Summit Approves Investment of Rs 9.13 Billion', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20846', 'article_category_id' => '1', 'title' => 'Govt Launches Automatic Approval for FDI as Investment Summit Approves Investment of Rs 9.13 Billion', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20846', 'article_category_id' => '1', 'title' => 'Govt Launches Automatic Approval for FDI as Investment Summit Approves Investment of Rs 9.13 Billion', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20846', 'article_category_id' => '1', 'title' => 'Govt Launches Automatic Approval for FDI as Investment Summit Approves Investment of Rs 9.13 Billion', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
