April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises…
April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in…
April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown.…
April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic…
April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups.…
April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April…
April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different…
April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial…
April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March.…
April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the…
April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year…
April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the…
April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period.…
April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported.…
April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s…
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Likewise, individuals and firms borrowing up to Rs 4 million from development banks and Rs 2 million from finance companies can also enjoy this facility.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation made this announcement on Tuesday (April 22) while unveiling a special relief package for the borrowers bearing the brunt of coronavirus and the lockdown imposed by the government. A meeting of the confederation members had taken a decision to this effect a day earlier on April 21.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the confederation has announced 10 percent discount on payment of interest within the month of Baishakh (mid-May). CBFIN said its members will also not slap any fine if the pending loans are cleared within mid-May.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11719', 'image' => '20200422115500_qqqq.jpg', 'article_date' => '2020-04-22 11:54:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11966', 'article_category_id' => '1', 'title' => 'Western Union Announces Home Delivery Service in Nepal', 'sub_title' => 'Remittance now Available at Doorstep', 'summary' => 'April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The agents’ home delivery service will enable customers in Nepal to receive cash from their loved ones from abroad, without leaving their homes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The company said in a statement that Annapurna Travel & Tours and Hulas Remittance will deliver money to the recipients at their doorsteps during the lockdown imposed by the government. The home delivery service will be available throughout the week including Saturday and Sunday from 10 AM to 4 PM.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“We and our Agents play a critical role in getting money to places, where and when it is most needed. As a purpose-driven global company, our mandate is to serve communities worldwide and this means not only serving the digitally enabled but also offline communities innovatively. This shared purpose holds true in these current times,” said Jean Claude Farah, president of Global Network, Western Union. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“The launch of this new agent service - delivering money to customers’ home – will help the public access cash, thereby providing essential financial services to a broad range of customers, including those who do not hold bank accounts,” added Farah. </span></span></p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11718', 'image' => '20200422112714_remit.jpg', 'article_date' => '2020-04-22 11:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11968', 'article_category_id' => '1', 'title' => 'Imported Goods at Birgunj Customs Point Damaged by Rain', 'sub_title' => 'Importers unable to clear the goods due to lockdown', 'summary' => 'April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. The importers have not come to clear their goods from the customs office even though some of them have started deteriorating over the time.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The goods at the customs office are getting damaged day by day.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Representatives of the importers informed New Business Age that their goods have been damaged by the rain and storm.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Umesh Sharma, central member of the Nepal Freight Forwarders Association, informed the goods stuck in the yard of Birgunj Customs have been damaged by the rain.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He complained that the goods kept in the yards of the customs office were damaged due to lack of proper arrangement of warehouse at the customs point. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Similarly, Chief Administrator of Birgunj Customs Office, Dhundi Prasad Niraula, informed that the rain accompanied by storm on Monday washed the goods due to the lack of walls at the warehouse. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He informed that the importers had not cleared their goods which had arrived at the customs office before the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Many importers did not clear their goods which were already here before the lockdown. Even though we have facilitated the clearance of goods, none of the importers have come to clear their goods,” he added.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The lockdown in both Nepal and India has caused difficulty in transportation of goods. Likewise, the flow of goods from India has also declined.</span></span></h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></h1> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11717', 'image' => '20200422121942_birgunj2 2.jpg', 'article_date' => '2020-04-22 12:18:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11965', 'article_category_id' => '1', 'title' => 'Private Sector Demands Financial Stimulus worth 5 Percent of GDP', 'sub_title' => '', 'summary' => 'April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A joint proposal prepared by the umbrella bodies of the private sector including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) made such recommendation to the government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have urged the government to immediately announce a financial stimulus package. The private sector lamented that their businesses have been completely halted due to the lockdown since a month but the government is yet to announce a financial stimulus package.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal mentions that the private businesses and industries are on the verge of collapse and therefore require government support to boost their morale in such testing times.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">NCC Vice President Rajendra Malla informed that the private sector is preparing to present the proposal to the government requesting short-term, middle-term and long-term support to minimize the impacts of the lockdown on the businesses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After a week-long discussions, the three organisations representing the private sector decided to seek support from the government in basically four sectors - policy reforms, monetary, labour and employment, and electricity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal includes renewal of loan and deferral of payment to the workers in case the lockdown gets extended.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have also demanded reduction in bank’s rate of interest by 5 percent and setting up of a fund of Rs 100 billion for renewal of loan. The private sector has requested the government to provide concessional loan from the fund to the businesses that are facing losses due to the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The private sector has maintained that it will take some time for their business to get back on track even if the government lifts the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The Labour Act 2074 has provision for the private sector to keep their employees standby during crisis and to pay 50 percent salary during such times. Therefore, the private sector has urged the government to allow them to pay 50 percent salary to their staffers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11716', 'image' => '20200422103111_stimulus 2.jpg', 'article_date' => '2020-04-22 10:30:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11969', 'article_category_id' => '1', 'title' => 'Statups on the Verge of Running out of Business', 'sub_title' => '', 'summary' => 'April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. According to stakeholders, majority of startups are on the verge of running out of their business. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">A committee consisting of entrepreneurs, investors, mentors and academicians have been frequently interacting with the start-ups after the lockdown. Based on interaction and study, it has been revealed that start-ups in the early stage are under the risk of dying and established start-ups with strong market presence are expressing concerns of liquidity crunch. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee submitted a ‘Startup Crisis Management Appeal’ to Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank, National Planning Commission and Ministry of Industry, Commerce and Supplies on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The written document mentions that even in a moderate risk scenario, businesses will be compelled to lay off employees in the next 4 weeks, if any relief isn’t provided by the government. “Our request for government response in facilitating the survival of start-ups is not curry-favouring. Rather, there is a strong business case for the need to support these start-ups given how deeply the sector entrenched is for Nepal’s economy in the present and the future,” mentions the document. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee has requested the government to provide assistance in payroll, rent, administrative expenses, and payment to vendors. The ecosystem players have also appealed to provide immediate temporary tax relief, TDS relief, VAT relief and Social Security Fund relief until one year after lockdown ends. Also, the committee has requested for collateral fee loan of Rs 5, 00,000 to Rs 5 million for one year. To qualify as a start-up under Nepal’s Ministry of Industry 2017 Start-up Policy draft, companies should have a registered life not exceeding five years, have invested capital not more than Rs 100 million and an annual turnover not exceeding Rs 100 million in any preceding fiscal year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11715', 'image' => '20200422122900_Startup copy.jpg', 'article_date' => '2020-04-22 12:27:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11964', 'article_category_id' => '1', 'title' => 'Coronavirus Cases Jump to 42 in Nepal', 'sub_title' => '', 'summary' => 'April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">All new cases have been reported in Udayapur district, where a dozen people had tested positive just five days ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">According to the national news agency RSS, Dr Samir Adhikari, joint spokesperson at the Ministry of Health and Population, confirmed the new cases.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The infected persons are from the same group of people associated with a mosque in Triyuga Municipality of Udayapur. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:Arial">The Ministry of Health and Population has said that a team deployed from Kathmandu has been conducting contact tracing of the infected persons. </span><br /> <span style="font-family:Arial">COVID-19 test is being conducted on 221 suspects in Birgunj and 320 in Udayapur, according to the Ministry. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Altogether 36,719 persons have undergone the COVID-19 tests while 107 suspects are currently in isolation. </span><br /> <span style="font-family:Arial">So far, four COVID-19 patients have returned home after full recovery. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11714', 'image' => '20200422095949_13323_corona2.jpg', 'article_date' => '2020-04-22 09:58:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11963', 'article_category_id' => '1', 'title' => 'Private Sector Demands Resumption of Industries by Categorizing them into Three Zones', 'sub_title' => '', 'summary' => 'April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The umbrella organisations of the private sector made a formal request to the Ministry of Industry, Commerce and Supplies on Monday to reopen the closed industries by categorizing them into green, yellow and red zones depending on the risk of contracting coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and Confederation of Nepalese Industries (CNI) prepared the joint proposal almost in a months since the lockdown brought all the businesses to a grinding halt in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NCC Vice President Rajendra Malla said that the private sector has prepared a certain criteria for resuming operation of businesses and industries and that can be possible with the support from all three tiers of governments.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that resuming operation of industries while they have stock of raw materials will help ease scarcity of goods in the market in the coming days. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The industries can be operated by taking into account the safety standard set by the government and categorizing the sectors free from risk of coronavirus as green zones,” said Malla.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Only essential service providers like pharmaceutical companies and few industries involved in food production are currently operational due to the lockdown imposed by the government. Most of the companies have remained closed.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11713', 'image' => '20200421030500_20190201015612_sej pic (2).jpg', 'article_date' => '2020-04-21 15:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11962', 'article_category_id' => '1', 'title' => 'Government Collecting Data to Assess the Impact of Coronavirus on Tourism Industry', 'sub_title' => '', 'summary' => 'April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate. The concerned authorities are collecting data to prepare an integrated report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs say that lack of integrated data made it difficult to ascertain the actual extent of losses and in receiving relief announced by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Speaking at a video conference organised by the Society of Economic Journalists of Nepal (SEJON) on the topic of ‘Effects of coronavirus on the tourism sector of Nepal and the way forward’ on Monday, Tourism Minister Yogesh Bhattarai said that the government lacks data on the total investment made in the tourism sector of Nepal. He said that the government is currently collecting data.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“After we collect data, we will get a clear picture about the investment made in this sector, loan provided by banks, the number of people employed in tourism industry and the impact of coronavirus,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai said that the government is preparing to include relief package for the tourism sector in the upcoming budget considering this sector as a vital contributor to the country’s economy. He said that the Ministry of Culture, Tourism and Civil Aviation has been holding discussions with the finance ministry and the National Planning Commission to announce relief package for revitalizing the tourism sector.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, former CEO of Nepal Tourism Board Deepak Raj Joshi opined that the private sector and the government must work hand-in-hand to revitalize the tourism sector which has badly been affected by coronavirus.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11712', 'image' => '20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2020-04-21 14:48:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11960', 'article_category_id' => '1', 'title' => 'Lockdown Takes Toll on Foreign Trade ', 'sub_title' => '', 'summary' => 'April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The latest data from the customs department show that both imports and exports have declined down due to the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the department, Nepal's imports during the month of March declined by more than 50 percent compared to February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">In March, imports were limited to Rs 58.29 billion, compared to imports of Rs 120 billion in February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports also have declined significantly.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The export of goods which were around Rs 10 billion in February has declined by more than 6 billion in March. In March, the total value of exports shrunk to Rs 3.91 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Foreign trade with Nepal's two major trading partners, India and China, has declined sharply.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports to India, Nepal’s largest trading partner, declined to Rs 3.15 billion, while imports were limited Rs 36 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Trade with China also observed a tremendous decline due to the prolonged shutdown of the two main customs points at the northern border -- Rasuwagadhi and Tatopani. Exports to China amounted to Rs 10 million in March.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government has banned flight operation and has closed most of the customs checkpoints on both the northern and southern border points. This has affected the foreign trade severely.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">For last one month, Nepal has been importing only essential commodities from India. Import and export of goods through air route have also been affected after the government restricted international flights.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government had imposed the lockdown on March and extended it twice. The lockdown is due to expire on April 27 while the flight restriction will be lifted on April 30.</span></span></p> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11711', 'image' => '20200421011816_1587419377.jpg', 'article_date' => '2020-04-21 13:17:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11959', 'article_category_id' => '1', 'title' => 'Ill-Timed Ordinances Draw Widespread Criticism', 'sub_title' => '', 'summary' => 'April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari issued the first amendment to the Constitutional Council (function, duties, rights and procedures) Ordinance, 2077 and the second amendment to the Political Party Ordinance, 2077 upon the recommendation of the Council of Minister on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance, 2077 issued at the wrong time drew criticism not only from the opposition parties but also within the ruling Nepal Communist Party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The main opposition Nepali Congress has expressed serious dissatisfaction toward the new ordinance while the ruling party leaders have viewed the latest move of the government with suspicion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance has provision for dividing a party if either the central committee or the parliamentary party has 40 percent votes. Prior to this, both the central committee and the parliamentary party required to have 40 percent votes to split the party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Meanwhile, the Constitutional Council Ordinance allows the government to call for the constitutional council meeting without the participation of the main opposition party leader. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Political analysts have viewed the ill-timing of the ordinances with great interest. Leaders of the ruling party itself have questioned the motive of the Political Party Ordinance, which was proposed by none other that Prime Minister KP Sharma Oli.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This decision has made the political situation of the country volatile, shaking the foundation of the stable government with nearly two-thirds majority in parliament.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The ruling NCP immediately called a secretariat meeting at the Prime Minister’s Official Residence in Baluwatar on Monday evening after the cabinet recommended the president to issue the controversial ordinances. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister KP Oli briefed the meeting on the need for the ordinances. According to NCP Spokesperson Narayan Kaji Shrestha, Oli said that the government was forced to bring the ordinances as the appointments in constitutional bodies had been stalled since a long time. PM Oli reportedly argued that the ordinances would not split the NCP. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, the new ordinances have raised eyebrows at a time when the two joint chairmen of the party are at odds with each other.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Leaders at the meeting expressed annoyance that the government issued the ordinance without discussing the matter within the party first.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NCP Spokesperson Shrestha further said that the ordinances were of serious nature and they were issued without holding discussions within the party. He said that the secretariat meeting was called to discuss the issue of ordinance when the country was grappling with coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister Oli’s remark that the Political Party Ordinance will not split the NCP has shifted the focus toward the two Madhes-based parties, where dissatisfaction is rife. Meanwhile, the main opposition NC has also expressed grave concerns regarding both the ordinances.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A statement issued by NC President Sher Bahadur Deuba says that the two ordinances issued by the government at a time when it should focus on preventing the spread of coronavirus pandemic clearly shows that the government is not sensitive towards the security of its people.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NC said it was unfortunate that the government has started playing “political game” at a time when the people are fighting for their safety and lives amid the pandemic.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11710', 'image' => '20200421121817_1104092741_Clipboard01.jpg', 'article_date' => '2020-04-21 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11958', 'article_category_id' => '1', 'title' => 'Inflation Remains above 6 Percent', 'sub_title' => '', 'summary' => 'April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago, according to the latest report of Nepal Rastra Bank. Inflation is constantly on the rise despite the government’s assurance to keep it below 6 percent. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The report based on data of the first eight months of the current fiscal year states that food and beverage inflation stood </span><span style="font-family:Helvetica">at 9.33 percent whereas non-food and service inflation stood at 4.69 percent in the review month.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Within the food and beverage group, the price of vegetables, spices, pulses and legumes, meat and fish rose significantly in the review month leading to the high inflation rate,</span> <span style="font-family:Calibri">according to the central bank’s latest update on the Current Macroeconomic and Financial Situation of Nepal released on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"> “</span><span style="font-family:Helvetica">Within the non-food and service group, the price of education, health, and clothes and footwear subgroups rose moderately in the review month</span><span style="font-family:Calibri">,” the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In the review month, the Kathmandu Valley witnessed 7.61 percent inflation followed by 6.84 percent in the tarai, 5.53 percent in the hill and 5.42 percent in the mountainous region. These regions had witnessed 4.61 percent, 3.61 percent, 4.64 percent and 5.57 percent inflation respectively a year ago, according to the NRB report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In eight months of 2019/20, merchandise exports increased 22.3 percent to Rs 74.91 billion compared to an increase of 15.6 percent a year ago. Destination-wise, exports to India and other countries increased 35.5 percent and 1.1 percent respectively whereas export to China decreased 19.4 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Mainly, </span><span style="font-family:Helvetica">Exports of palm oil, cardamom, medicine (ayurvedic), herbs, jute goods, among others, increased whereas exports of zinc sheet, wire, readymade garment, juice, copper wire rod, among others, decreased in the review period. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Likewise, merchandise imports decreased 2.6 percent to Rs 924.24 billion against an increase of 23.8 percent in the same period of the previous year. Destination-wise, imports from China and other countries increased 5.5 percent and 6.8 percent respectively whereas imports from India decreased 7.5 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Imports of crude palm oil, chemical fertilizer, hot rolled sheet in coil, crude soybean oil, other machinery and parts, crude among others increased whereas imports of MS billet, gold, transport equipment and parts, petroleum products, cement, among others decreased in the review period.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Total trade deficit narrowed down 4.3 percent to Rs 849.33 billion in the eight months of 2019/20. Such deficit had expanded 24.4 percent in the same period of the previous year. The export-import ratio increased to 8.1 percent in the review period from 6.5 percent in the corresponding period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Remittance inflows decreased 1.8 percent to Rs 592.42 billion in the review period against the increase of 23.4 percent in the same period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">According to NRB, Balance of Payments (BOP) remained at a surplus of Rs 37.84 billion in the review period against a deficit of Rs 58.99 billion in the same period of the previous year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11709', 'image' => '20200421100703_20190502053738_NRB Facebook.jpg', 'article_date' => '2020-04-21 10:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11961', 'article_category_id' => '1', 'title' => 'Government to Ease Import of Black Peppers', 'sub_title' => '', 'summary' => 'April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">A secretary-level decision of the Finance Ministry has requested the Ministry of Industry, Commerce and Supplies to ascertain the actual amount of black pepper needed for industrial use for current fiscal year, informed a source. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Ministry of Finance has sent a letter requesting the Ministry of Industry, Commerce and Supplies to finalize the actual amount of black pepper required for Ayurvedic and spice industries, official at the Ministry of Industry, Commerce and Supplies informed. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government will remove its restriction on import of black pepper only after the commerce ministry sends the quantitative details.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government following request from multinational companies is preparing to make the import easier. Multinational companies had sent the ministry request letters informing that they had to stop the production of major products due to the shortage of black peppers, informed high ranking officer at the ministry. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Earlier, a cabinet meeting held on March 3 had banned the import of pepper, peas and dates from third countries under the export control act.</span></span></h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11708', 'image' => '20200421013338_1587334399.jpg', 'article_date' => '2020-04-21 13:32:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11957', 'article_category_id' => '1', 'title' => 'Private Sector Employers Decide to Deduct 50% Salary of Workers', 'sub_title' => 'Trade Unions Urge Employers not to Take Unilateral Decision', 'summary' => 'April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) had been discussing about the payment of workers since the past week. Stakeholders have reached an initial understanding to pay 50 percent salary to the workers in the private sector on the basis of the post of the worker.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Employment Council of FNCCI had initiated discussions among the stakeholders about workers’ pay during the current crisis. They agreed on Sunday to deduct 50 percent salary of the employees who make good income while those who earn little amount will not have their salary deducted.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to an informed source, they will officially inform about the decision to the government on either Monday or Tuesday (April 21). The payment of salary has become the bone of contention at a time when most of the industries and enterprises across the country have come to a halt due to the lockdown imposed by the government. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government has already released Rs 180 million as workers’ salary to the firms contributing to the Social Security Fund of the government. There is a mandatory provision for every enterprise of the private sector to contribute 31 percent of each worker’s salary to the fund in return for various facilities post-retirement but many companies are yet to comply with the government’s newly set up fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, the General Federation of Nepalese Trade Union and Nepal Trade Union Congress have urged the umbrella organisations of the employers not to fix the salary unilaterally. They argued that it does not suit the reputation of employers to bargain for one month’s salary of the staffers who have contributed to the companies for years.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President of Nepal Trade Union Congress Pushkar Acharya said that the employers cannot do injustice to the workers on the pretext of the lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The government has already released Rs 180 million as salary for the workers. In such situation, the employers cannot run away from their obligation to pay the workers,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that the employers have defied government instruction to pay the workers the salary for the month of Chaitra (mid-March to mid-April).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11707', 'image' => '20200420114122_Deduction-in-Salary.jpg', 'article_date' => '2020-04-20 11:40:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11952', 'article_category_id' => '1', 'title' => 'Govt Preparing Recovery Plans to Reduce Impacts of COVID-19: Finance Minister', 'sub_title' => '', 'summary' => 'April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Finance Dr Yuba Raj Khatiwada, who is also the government spokesperson, reportedly said that the government has been making plans to recover economy from the lockdown order, taking into consideration that trade and economic activities have been halted in the present context. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Arial Unicode MS"">Dr Khatiwada added that those plans include revitalizing the economy from the current stalemate. </span><br /> <span style="font-family:"Arial Unicode MS"">The finance minister made such remark during a meeting with the office-bearers of Nepal Chamber of Commerce on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was working to bring in investment, issue approval for new investments, resolve the problems seen in investment implementation and reduce the unproductive expenses by creating situation for mobilization of cash. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Dr Khatiwada expressed his view that the situation is still not favourable to open the international borders and resume flights but hinted that the government could relax business activities and regional mobility.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was doing homework to this end.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">“We are thinking to relax business activities and regional mobility,” RSS quoted Minister Khatiwada as saying. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the meeting, he also said that the state coffers were not in a comfortable position as the areas of expenses have increased while the sources of revenue collections were limited due to the impact of coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11706', 'image' => '20200420093640_330__MG_7700.JPG', 'article_date' => '2020-04-20 09:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11955', 'article_category_id' => '1', 'title' => 'Central Bank tells BFIs to Submit Financial Report', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">On March 25, after the government imposed a nationwide lockdown, the central bank had asked BFIs to present their financial report a week after the lockdown is lifted and the country returns to normalcy. However, the lockdown has been extended continuously since then and many businesses and industries have completely shut down.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director at the BFI Regulatory Department of NRB, Dev Kumar Dhakal, informed that the banks and financial institutions have been instructed to submit their financial reports as the central bank requires data for analysis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Governor Maha Prasad Adhikari had formed a committee to study the impacts of coronavirus soon after his appointment to the post of central bank’s governor. The committee is headed by Executive Director the Research Department of NRB, Dr Gunakar Bhatta.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The committee has been asked to study the impacts of coronavirus on the tourism, hotel, aviation, and industrial sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Coronavirus and the lockdown will have impacts on the overall economy of the country and therefore we have already started the study,” said Bhatta. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11705', 'image' => '20200420100722_1587333947.jpg', 'article_date' => '2020-04-20 10:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '11967', 'article_category_id' => '1', 'title' => 'Umbrella Organisation of Bankers Decides to Lower Interest Rate for SMEs', 'sub_title' => '', 'summary' => 'April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation said that its members decided to lower the interest rate considering the impact of coronavirus on the economy and the borrowers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to CBFIN, the borrowers can enjoy the facility until further notice.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Borrowers who have taken loan from commercial banks at 10 percent interest will now have to pay 9 percent interest during this period. Likewise, individuals and firms borrowing up to Rs 4 million from development banks and Rs 2 million from finance companies can also enjoy this facility.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation made this announcement on Tuesday (April 22) while unveiling a special relief package for the borrowers bearing the brunt of coronavirus and the lockdown imposed by the government. A meeting of the confederation members had taken a decision to this effect a day earlier on April 21.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the confederation has announced 10 percent discount on payment of interest within the month of Baishakh (mid-May). CBFIN said its members will also not slap any fine if the pending loans are cleared within mid-May.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11719', 'image' => '20200422115500_qqqq.jpg', 'article_date' => '2020-04-22 11:54:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11966', 'article_category_id' => '1', 'title' => 'Western Union Announces Home Delivery Service in Nepal', 'sub_title' => 'Remittance now Available at Doorstep', 'summary' => 'April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The agents’ home delivery service will enable customers in Nepal to receive cash from their loved ones from abroad, without leaving their homes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The company said in a statement that Annapurna Travel & Tours and Hulas Remittance will deliver money to the recipients at their doorsteps during the lockdown imposed by the government. The home delivery service will be available throughout the week including Saturday and Sunday from 10 AM to 4 PM.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“We and our Agents play a critical role in getting money to places, where and when it is most needed. As a purpose-driven global company, our mandate is to serve communities worldwide and this means not only serving the digitally enabled but also offline communities innovatively. This shared purpose holds true in these current times,” said Jean Claude Farah, president of Global Network, Western Union. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“The launch of this new agent service - delivering money to customers’ home – will help the public access cash, thereby providing essential financial services to a broad range of customers, including those who do not hold bank accounts,” added Farah. </span></span></p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11718', 'image' => '20200422112714_remit.jpg', 'article_date' => '2020-04-22 11:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11968', 'article_category_id' => '1', 'title' => 'Imported Goods at Birgunj Customs Point Damaged by Rain', 'sub_title' => 'Importers unable to clear the goods due to lockdown', 'summary' => 'April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. The importers have not come to clear their goods from the customs office even though some of them have started deteriorating over the time.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The goods at the customs office are getting damaged day by day.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Representatives of the importers informed New Business Age that their goods have been damaged by the rain and storm.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Umesh Sharma, central member of the Nepal Freight Forwarders Association, informed the goods stuck in the yard of Birgunj Customs have been damaged by the rain.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He complained that the goods kept in the yards of the customs office were damaged due to lack of proper arrangement of warehouse at the customs point. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Similarly, Chief Administrator of Birgunj Customs Office, Dhundi Prasad Niraula, informed that the rain accompanied by storm on Monday washed the goods due to the lack of walls at the warehouse. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He informed that the importers had not cleared their goods which had arrived at the customs office before the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Many importers did not clear their goods which were already here before the lockdown. Even though we have facilitated the clearance of goods, none of the importers have come to clear their goods,” he added.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The lockdown in both Nepal and India has caused difficulty in transportation of goods. Likewise, the flow of goods from India has also declined.</span></span></h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></h1> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11717', 'image' => '20200422121942_birgunj2 2.jpg', 'article_date' => '2020-04-22 12:18:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11965', 'article_category_id' => '1', 'title' => 'Private Sector Demands Financial Stimulus worth 5 Percent of GDP', 'sub_title' => '', 'summary' => 'April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A joint proposal prepared by the umbrella bodies of the private sector including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) made such recommendation to the government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have urged the government to immediately announce a financial stimulus package. The private sector lamented that their businesses have been completely halted due to the lockdown since a month but the government is yet to announce a financial stimulus package.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal mentions that the private businesses and industries are on the verge of collapse and therefore require government support to boost their morale in such testing times.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">NCC Vice President Rajendra Malla informed that the private sector is preparing to present the proposal to the government requesting short-term, middle-term and long-term support to minimize the impacts of the lockdown on the businesses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After a week-long discussions, the three organisations representing the private sector decided to seek support from the government in basically four sectors - policy reforms, monetary, labour and employment, and electricity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal includes renewal of loan and deferral of payment to the workers in case the lockdown gets extended.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have also demanded reduction in bank’s rate of interest by 5 percent and setting up of a fund of Rs 100 billion for renewal of loan. The private sector has requested the government to provide concessional loan from the fund to the businesses that are facing losses due to the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The private sector has maintained that it will take some time for their business to get back on track even if the government lifts the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The Labour Act 2074 has provision for the private sector to keep their employees standby during crisis and to pay 50 percent salary during such times. Therefore, the private sector has urged the government to allow them to pay 50 percent salary to their staffers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11716', 'image' => '20200422103111_stimulus 2.jpg', 'article_date' => '2020-04-22 10:30:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11969', 'article_category_id' => '1', 'title' => 'Statups on the Verge of Running out of Business', 'sub_title' => '', 'summary' => 'April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. According to stakeholders, majority of startups are on the verge of running out of their business. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">A committee consisting of entrepreneurs, investors, mentors and academicians have been frequently interacting with the start-ups after the lockdown. Based on interaction and study, it has been revealed that start-ups in the early stage are under the risk of dying and established start-ups with strong market presence are expressing concerns of liquidity crunch. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee submitted a ‘Startup Crisis Management Appeal’ to Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank, National Planning Commission and Ministry of Industry, Commerce and Supplies on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The written document mentions that even in a moderate risk scenario, businesses will be compelled to lay off employees in the next 4 weeks, if any relief isn’t provided by the government. “Our request for government response in facilitating the survival of start-ups is not curry-favouring. Rather, there is a strong business case for the need to support these start-ups given how deeply the sector entrenched is for Nepal’s economy in the present and the future,” mentions the document. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee has requested the government to provide assistance in payroll, rent, administrative expenses, and payment to vendors. The ecosystem players have also appealed to provide immediate temporary tax relief, TDS relief, VAT relief and Social Security Fund relief until one year after lockdown ends. Also, the committee has requested for collateral fee loan of Rs 5, 00,000 to Rs 5 million for one year. To qualify as a start-up under Nepal’s Ministry of Industry 2017 Start-up Policy draft, companies should have a registered life not exceeding five years, have invested capital not more than Rs 100 million and an annual turnover not exceeding Rs 100 million in any preceding fiscal year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11715', 'image' => '20200422122900_Startup copy.jpg', 'article_date' => '2020-04-22 12:27:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11964', 'article_category_id' => '1', 'title' => 'Coronavirus Cases Jump to 42 in Nepal', 'sub_title' => '', 'summary' => 'April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">All new cases have been reported in Udayapur district, where a dozen people had tested positive just five days ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">According to the national news agency RSS, Dr Samir Adhikari, joint spokesperson at the Ministry of Health and Population, confirmed the new cases.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The infected persons are from the same group of people associated with a mosque in Triyuga Municipality of Udayapur. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:Arial">The Ministry of Health and Population has said that a team deployed from Kathmandu has been conducting contact tracing of the infected persons. </span><br /> <span style="font-family:Arial">COVID-19 test is being conducted on 221 suspects in Birgunj and 320 in Udayapur, according to the Ministry. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Altogether 36,719 persons have undergone the COVID-19 tests while 107 suspects are currently in isolation. </span><br /> <span style="font-family:Arial">So far, four COVID-19 patients have returned home after full recovery. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11714', 'image' => '20200422095949_13323_corona2.jpg', 'article_date' => '2020-04-22 09:58:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11963', 'article_category_id' => '1', 'title' => 'Private Sector Demands Resumption of Industries by Categorizing them into Three Zones', 'sub_title' => '', 'summary' => 'April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The umbrella organisations of the private sector made a formal request to the Ministry of Industry, Commerce and Supplies on Monday to reopen the closed industries by categorizing them into green, yellow and red zones depending on the risk of contracting coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and Confederation of Nepalese Industries (CNI) prepared the joint proposal almost in a months since the lockdown brought all the businesses to a grinding halt in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NCC Vice President Rajendra Malla said that the private sector has prepared a certain criteria for resuming operation of businesses and industries and that can be possible with the support from all three tiers of governments.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that resuming operation of industries while they have stock of raw materials will help ease scarcity of goods in the market in the coming days. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The industries can be operated by taking into account the safety standard set by the government and categorizing the sectors free from risk of coronavirus as green zones,” said Malla.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Only essential service providers like pharmaceutical companies and few industries involved in food production are currently operational due to the lockdown imposed by the government. Most of the companies have remained closed.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11713', 'image' => '20200421030500_20190201015612_sej pic (2).jpg', 'article_date' => '2020-04-21 15:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11962', 'article_category_id' => '1', 'title' => 'Government Collecting Data to Assess the Impact of Coronavirus on Tourism Industry', 'sub_title' => '', 'summary' => 'April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate. The concerned authorities are collecting data to prepare an integrated report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs say that lack of integrated data made it difficult to ascertain the actual extent of losses and in receiving relief announced by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Speaking at a video conference organised by the Society of Economic Journalists of Nepal (SEJON) on the topic of ‘Effects of coronavirus on the tourism sector of Nepal and the way forward’ on Monday, Tourism Minister Yogesh Bhattarai said that the government lacks data on the total investment made in the tourism sector of Nepal. He said that the government is currently collecting data.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“After we collect data, we will get a clear picture about the investment made in this sector, loan provided by banks, the number of people employed in tourism industry and the impact of coronavirus,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai said that the government is preparing to include relief package for the tourism sector in the upcoming budget considering this sector as a vital contributor to the country’s economy. He said that the Ministry of Culture, Tourism and Civil Aviation has been holding discussions with the finance ministry and the National Planning Commission to announce relief package for revitalizing the tourism sector.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, former CEO of Nepal Tourism Board Deepak Raj Joshi opined that the private sector and the government must work hand-in-hand to revitalize the tourism sector which has badly been affected by coronavirus.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11712', 'image' => '20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2020-04-21 14:48:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11960', 'article_category_id' => '1', 'title' => 'Lockdown Takes Toll on Foreign Trade ', 'sub_title' => '', 'summary' => 'April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The latest data from the customs department show that both imports and exports have declined down due to the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the department, Nepal's imports during the month of March declined by more than 50 percent compared to February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">In March, imports were limited to Rs 58.29 billion, compared to imports of Rs 120 billion in February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports also have declined significantly.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The export of goods which were around Rs 10 billion in February has declined by more than 6 billion in March. In March, the total value of exports shrunk to Rs 3.91 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Foreign trade with Nepal's two major trading partners, India and China, has declined sharply.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports to India, Nepal’s largest trading partner, declined to Rs 3.15 billion, while imports were limited Rs 36 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Trade with China also observed a tremendous decline due to the prolonged shutdown of the two main customs points at the northern border -- Rasuwagadhi and Tatopani. Exports to China amounted to Rs 10 million in March.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government has banned flight operation and has closed most of the customs checkpoints on both the northern and southern border points. This has affected the foreign trade severely.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">For last one month, Nepal has been importing only essential commodities from India. Import and export of goods through air route have also been affected after the government restricted international flights.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government had imposed the lockdown on March and extended it twice. The lockdown is due to expire on April 27 while the flight restriction will be lifted on April 30.</span></span></p> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11711', 'image' => '20200421011816_1587419377.jpg', 'article_date' => '2020-04-21 13:17:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11959', 'article_category_id' => '1', 'title' => 'Ill-Timed Ordinances Draw Widespread Criticism', 'sub_title' => '', 'summary' => 'April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari issued the first amendment to the Constitutional Council (function, duties, rights and procedures) Ordinance, 2077 and the second amendment to the Political Party Ordinance, 2077 upon the recommendation of the Council of Minister on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance, 2077 issued at the wrong time drew criticism not only from the opposition parties but also within the ruling Nepal Communist Party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The main opposition Nepali Congress has expressed serious dissatisfaction toward the new ordinance while the ruling party leaders have viewed the latest move of the government with suspicion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance has provision for dividing a party if either the central committee or the parliamentary party has 40 percent votes. Prior to this, both the central committee and the parliamentary party required to have 40 percent votes to split the party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Meanwhile, the Constitutional Council Ordinance allows the government to call for the constitutional council meeting without the participation of the main opposition party leader. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Political analysts have viewed the ill-timing of the ordinances with great interest. Leaders of the ruling party itself have questioned the motive of the Political Party Ordinance, which was proposed by none other that Prime Minister KP Sharma Oli.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This decision has made the political situation of the country volatile, shaking the foundation of the stable government with nearly two-thirds majority in parliament.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The ruling NCP immediately called a secretariat meeting at the Prime Minister’s Official Residence in Baluwatar on Monday evening after the cabinet recommended the president to issue the controversial ordinances. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister KP Oli briefed the meeting on the need for the ordinances. According to NCP Spokesperson Narayan Kaji Shrestha, Oli said that the government was forced to bring the ordinances as the appointments in constitutional bodies had been stalled since a long time. PM Oli reportedly argued that the ordinances would not split the NCP. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, the new ordinances have raised eyebrows at a time when the two joint chairmen of the party are at odds with each other.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Leaders at the meeting expressed annoyance that the government issued the ordinance without discussing the matter within the party first.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NCP Spokesperson Shrestha further said that the ordinances were of serious nature and they were issued without holding discussions within the party. He said that the secretariat meeting was called to discuss the issue of ordinance when the country was grappling with coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister Oli’s remark that the Political Party Ordinance will not split the NCP has shifted the focus toward the two Madhes-based parties, where dissatisfaction is rife. Meanwhile, the main opposition NC has also expressed grave concerns regarding both the ordinances.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A statement issued by NC President Sher Bahadur Deuba says that the two ordinances issued by the government at a time when it should focus on preventing the spread of coronavirus pandemic clearly shows that the government is not sensitive towards the security of its people.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NC said it was unfortunate that the government has started playing “political game” at a time when the people are fighting for their safety and lives amid the pandemic.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11710', 'image' => '20200421121817_1104092741_Clipboard01.jpg', 'article_date' => '2020-04-21 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11958', 'article_category_id' => '1', 'title' => 'Inflation Remains above 6 Percent', 'sub_title' => '', 'summary' => 'April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago, according to the latest report of Nepal Rastra Bank. Inflation is constantly on the rise despite the government’s assurance to keep it below 6 percent. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The report based on data of the first eight months of the current fiscal year states that food and beverage inflation stood </span><span style="font-family:Helvetica">at 9.33 percent whereas non-food and service inflation stood at 4.69 percent in the review month.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Within the food and beverage group, the price of vegetables, spices, pulses and legumes, meat and fish rose significantly in the review month leading to the high inflation rate,</span> <span style="font-family:Calibri">according to the central bank’s latest update on the Current Macroeconomic and Financial Situation of Nepal released on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"> “</span><span style="font-family:Helvetica">Within the non-food and service group, the price of education, health, and clothes and footwear subgroups rose moderately in the review month</span><span style="font-family:Calibri">,” the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In the review month, the Kathmandu Valley witnessed 7.61 percent inflation followed by 6.84 percent in the tarai, 5.53 percent in the hill and 5.42 percent in the mountainous region. These regions had witnessed 4.61 percent, 3.61 percent, 4.64 percent and 5.57 percent inflation respectively a year ago, according to the NRB report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In eight months of 2019/20, merchandise exports increased 22.3 percent to Rs 74.91 billion compared to an increase of 15.6 percent a year ago. Destination-wise, exports to India and other countries increased 35.5 percent and 1.1 percent respectively whereas export to China decreased 19.4 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Mainly, </span><span style="font-family:Helvetica">Exports of palm oil, cardamom, medicine (ayurvedic), herbs, jute goods, among others, increased whereas exports of zinc sheet, wire, readymade garment, juice, copper wire rod, among others, decreased in the review period. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Likewise, merchandise imports decreased 2.6 percent to Rs 924.24 billion against an increase of 23.8 percent in the same period of the previous year. Destination-wise, imports from China and other countries increased 5.5 percent and 6.8 percent respectively whereas imports from India decreased 7.5 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Imports of crude palm oil, chemical fertilizer, hot rolled sheet in coil, crude soybean oil, other machinery and parts, crude among others increased whereas imports of MS billet, gold, transport equipment and parts, petroleum products, cement, among others decreased in the review period.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Total trade deficit narrowed down 4.3 percent to Rs 849.33 billion in the eight months of 2019/20. Such deficit had expanded 24.4 percent in the same period of the previous year. The export-import ratio increased to 8.1 percent in the review period from 6.5 percent in the corresponding period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Remittance inflows decreased 1.8 percent to Rs 592.42 billion in the review period against the increase of 23.4 percent in the same period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">According to NRB, Balance of Payments (BOP) remained at a surplus of Rs 37.84 billion in the review period against a deficit of Rs 58.99 billion in the same period of the previous year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11709', 'image' => '20200421100703_20190502053738_NRB Facebook.jpg', 'article_date' => '2020-04-21 10:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11961', 'article_category_id' => '1', 'title' => 'Government to Ease Import of Black Peppers', 'sub_title' => '', 'summary' => 'April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">A secretary-level decision of the Finance Ministry has requested the Ministry of Industry, Commerce and Supplies to ascertain the actual amount of black pepper needed for industrial use for current fiscal year, informed a source. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Ministry of Finance has sent a letter requesting the Ministry of Industry, Commerce and Supplies to finalize the actual amount of black pepper required for Ayurvedic and spice industries, official at the Ministry of Industry, Commerce and Supplies informed. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government will remove its restriction on import of black pepper only after the commerce ministry sends the quantitative details.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government following request from multinational companies is preparing to make the import easier. Multinational companies had sent the ministry request letters informing that they had to stop the production of major products due to the shortage of black peppers, informed high ranking officer at the ministry. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Earlier, a cabinet meeting held on March 3 had banned the import of pepper, peas and dates from third countries under the export control act.</span></span></h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11708', 'image' => '20200421013338_1587334399.jpg', 'article_date' => '2020-04-21 13:32:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11957', 'article_category_id' => '1', 'title' => 'Private Sector Employers Decide to Deduct 50% Salary of Workers', 'sub_title' => 'Trade Unions Urge Employers not to Take Unilateral Decision', 'summary' => 'April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) had been discussing about the payment of workers since the past week. Stakeholders have reached an initial understanding to pay 50 percent salary to the workers in the private sector on the basis of the post of the worker.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Employment Council of FNCCI had initiated discussions among the stakeholders about workers’ pay during the current crisis. They agreed on Sunday to deduct 50 percent salary of the employees who make good income while those who earn little amount will not have their salary deducted.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to an informed source, they will officially inform about the decision to the government on either Monday or Tuesday (April 21). The payment of salary has become the bone of contention at a time when most of the industries and enterprises across the country have come to a halt due to the lockdown imposed by the government. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government has already released Rs 180 million as workers’ salary to the firms contributing to the Social Security Fund of the government. There is a mandatory provision for every enterprise of the private sector to contribute 31 percent of each worker’s salary to the fund in return for various facilities post-retirement but many companies are yet to comply with the government’s newly set up fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, the General Federation of Nepalese Trade Union and Nepal Trade Union Congress have urged the umbrella organisations of the employers not to fix the salary unilaterally. They argued that it does not suit the reputation of employers to bargain for one month’s salary of the staffers who have contributed to the companies for years.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President of Nepal Trade Union Congress Pushkar Acharya said that the employers cannot do injustice to the workers on the pretext of the lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The government has already released Rs 180 million as salary for the workers. In such situation, the employers cannot run away from their obligation to pay the workers,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that the employers have defied government instruction to pay the workers the salary for the month of Chaitra (mid-March to mid-April).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11707', 'image' => '20200420114122_Deduction-in-Salary.jpg', 'article_date' => '2020-04-20 11:40:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11952', 'article_category_id' => '1', 'title' => 'Govt Preparing Recovery Plans to Reduce Impacts of COVID-19: Finance Minister', 'sub_title' => '', 'summary' => 'April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Finance Dr Yuba Raj Khatiwada, who is also the government spokesperson, reportedly said that the government has been making plans to recover economy from the lockdown order, taking into consideration that trade and economic activities have been halted in the present context. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Arial Unicode MS"">Dr Khatiwada added that those plans include revitalizing the economy from the current stalemate. </span><br /> <span style="font-family:"Arial Unicode MS"">The finance minister made such remark during a meeting with the office-bearers of Nepal Chamber of Commerce on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was working to bring in investment, issue approval for new investments, resolve the problems seen in investment implementation and reduce the unproductive expenses by creating situation for mobilization of cash. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Dr Khatiwada expressed his view that the situation is still not favourable to open the international borders and resume flights but hinted that the government could relax business activities and regional mobility.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was doing homework to this end.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">“We are thinking to relax business activities and regional mobility,” RSS quoted Minister Khatiwada as saying. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the meeting, he also said that the state coffers were not in a comfortable position as the areas of expenses have increased while the sources of revenue collections were limited due to the impact of coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11706', 'image' => '20200420093640_330__MG_7700.JPG', 'article_date' => '2020-04-20 09:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11955', 'article_category_id' => '1', 'title' => 'Central Bank tells BFIs to Submit Financial Report', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">On March 25, after the government imposed a nationwide lockdown, the central bank had asked BFIs to present their financial report a week after the lockdown is lifted and the country returns to normalcy. However, the lockdown has been extended continuously since then and many businesses and industries have completely shut down.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director at the BFI Regulatory Department of NRB, Dev Kumar Dhakal, informed that the banks and financial institutions have been instructed to submit their financial reports as the central bank requires data for analysis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Governor Maha Prasad Adhikari had formed a committee to study the impacts of coronavirus soon after his appointment to the post of central bank’s governor. The committee is headed by Executive Director the Research Department of NRB, Dr Gunakar Bhatta.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The committee has been asked to study the impacts of coronavirus on the tourism, hotel, aviation, and industrial sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Coronavirus and the lockdown will have impacts on the overall economy of the country and therefore we have already started the study,” said Bhatta. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11705', 'image' => '20200420100722_1587333947.jpg', 'article_date' => '2020-04-20 10:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '11967', 'article_category_id' => '1', 'title' => 'Umbrella Organisation of Bankers Decides to Lower Interest Rate for SMEs', 'sub_title' => '', 'summary' => 'April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation said that its members decided to lower the interest rate considering the impact of coronavirus on the economy and the borrowers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to CBFIN, the borrowers can enjoy the facility until further notice.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Borrowers who have taken loan from commercial banks at 10 percent interest will now have to pay 9 percent interest during this period. Likewise, individuals and firms borrowing up to Rs 4 million from development banks and Rs 2 million from finance companies can also enjoy this facility.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation made this announcement on Tuesday (April 22) while unveiling a special relief package for the borrowers bearing the brunt of coronavirus and the lockdown imposed by the government. A meeting of the confederation members had taken a decision to this effect a day earlier on April 21.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the confederation has announced 10 percent discount on payment of interest within the month of Baishakh (mid-May). CBFIN said its members will also not slap any fine if the pending loans are cleared within mid-May.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11719', 'image' => '20200422115500_qqqq.jpg', 'article_date' => '2020-04-22 11:54:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11966', 'article_category_id' => '1', 'title' => 'Western Union Announces Home Delivery Service in Nepal', 'sub_title' => 'Remittance now Available at Doorstep', 'summary' => 'April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The agents’ home delivery service will enable customers in Nepal to receive cash from their loved ones from abroad, without leaving their homes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The company said in a statement that Annapurna Travel & Tours and Hulas Remittance will deliver money to the recipients at their doorsteps during the lockdown imposed by the government. The home delivery service will be available throughout the week including Saturday and Sunday from 10 AM to 4 PM.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“We and our Agents play a critical role in getting money to places, where and when it is most needed. As a purpose-driven global company, our mandate is to serve communities worldwide and this means not only serving the digitally enabled but also offline communities innovatively. This shared purpose holds true in these current times,” said Jean Claude Farah, president of Global Network, Western Union. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“The launch of this new agent service - delivering money to customers’ home – will help the public access cash, thereby providing essential financial services to a broad range of customers, including those who do not hold bank accounts,” added Farah. </span></span></p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11718', 'image' => '20200422112714_remit.jpg', 'article_date' => '2020-04-22 11:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11968', 'article_category_id' => '1', 'title' => 'Imported Goods at Birgunj Customs Point Damaged by Rain', 'sub_title' => 'Importers unable to clear the goods due to lockdown', 'summary' => 'April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. The importers have not come to clear their goods from the customs office even though some of them have started deteriorating over the time.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The goods at the customs office are getting damaged day by day.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Representatives of the importers informed New Business Age that their goods have been damaged by the rain and storm.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Umesh Sharma, central member of the Nepal Freight Forwarders Association, informed the goods stuck in the yard of Birgunj Customs have been damaged by the rain.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He complained that the goods kept in the yards of the customs office were damaged due to lack of proper arrangement of warehouse at the customs point. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Similarly, Chief Administrator of Birgunj Customs Office, Dhundi Prasad Niraula, informed that the rain accompanied by storm on Monday washed the goods due to the lack of walls at the warehouse. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He informed that the importers had not cleared their goods which had arrived at the customs office before the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Many importers did not clear their goods which were already here before the lockdown. Even though we have facilitated the clearance of goods, none of the importers have come to clear their goods,” he added.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The lockdown in both Nepal and India has caused difficulty in transportation of goods. Likewise, the flow of goods from India has also declined.</span></span></h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></h1> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11717', 'image' => '20200422121942_birgunj2 2.jpg', 'article_date' => '2020-04-22 12:18:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11965', 'article_category_id' => '1', 'title' => 'Private Sector Demands Financial Stimulus worth 5 Percent of GDP', 'sub_title' => '', 'summary' => 'April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A joint proposal prepared by the umbrella bodies of the private sector including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) made such recommendation to the government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have urged the government to immediately announce a financial stimulus package. The private sector lamented that their businesses have been completely halted due to the lockdown since a month but the government is yet to announce a financial stimulus package.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal mentions that the private businesses and industries are on the verge of collapse and therefore require government support to boost their morale in such testing times.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">NCC Vice President Rajendra Malla informed that the private sector is preparing to present the proposal to the government requesting short-term, middle-term and long-term support to minimize the impacts of the lockdown on the businesses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After a week-long discussions, the three organisations representing the private sector decided to seek support from the government in basically four sectors - policy reforms, monetary, labour and employment, and electricity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal includes renewal of loan and deferral of payment to the workers in case the lockdown gets extended.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have also demanded reduction in bank’s rate of interest by 5 percent and setting up of a fund of Rs 100 billion for renewal of loan. The private sector has requested the government to provide concessional loan from the fund to the businesses that are facing losses due to the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The private sector has maintained that it will take some time for their business to get back on track even if the government lifts the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The Labour Act 2074 has provision for the private sector to keep their employees standby during crisis and to pay 50 percent salary during such times. Therefore, the private sector has urged the government to allow them to pay 50 percent salary to their staffers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11716', 'image' => '20200422103111_stimulus 2.jpg', 'article_date' => '2020-04-22 10:30:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11969', 'article_category_id' => '1', 'title' => 'Statups on the Verge of Running out of Business', 'sub_title' => '', 'summary' => 'April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. According to stakeholders, majority of startups are on the verge of running out of their business. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">A committee consisting of entrepreneurs, investors, mentors and academicians have been frequently interacting with the start-ups after the lockdown. Based on interaction and study, it has been revealed that start-ups in the early stage are under the risk of dying and established start-ups with strong market presence are expressing concerns of liquidity crunch. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee submitted a ‘Startup Crisis Management Appeal’ to Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank, National Planning Commission and Ministry of Industry, Commerce and Supplies on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The written document mentions that even in a moderate risk scenario, businesses will be compelled to lay off employees in the next 4 weeks, if any relief isn’t provided by the government. “Our request for government response in facilitating the survival of start-ups is not curry-favouring. Rather, there is a strong business case for the need to support these start-ups given how deeply the sector entrenched is for Nepal’s economy in the present and the future,” mentions the document. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee has requested the government to provide assistance in payroll, rent, administrative expenses, and payment to vendors. The ecosystem players have also appealed to provide immediate temporary tax relief, TDS relief, VAT relief and Social Security Fund relief until one year after lockdown ends. Also, the committee has requested for collateral fee loan of Rs 5, 00,000 to Rs 5 million for one year. To qualify as a start-up under Nepal’s Ministry of Industry 2017 Start-up Policy draft, companies should have a registered life not exceeding five years, have invested capital not more than Rs 100 million and an annual turnover not exceeding Rs 100 million in any preceding fiscal year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11715', 'image' => '20200422122900_Startup copy.jpg', 'article_date' => '2020-04-22 12:27:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11964', 'article_category_id' => '1', 'title' => 'Coronavirus Cases Jump to 42 in Nepal', 'sub_title' => '', 'summary' => 'April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">All new cases have been reported in Udayapur district, where a dozen people had tested positive just five days ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">According to the national news agency RSS, Dr Samir Adhikari, joint spokesperson at the Ministry of Health and Population, confirmed the new cases.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The infected persons are from the same group of people associated with a mosque in Triyuga Municipality of Udayapur. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:Arial">The Ministry of Health and Population has said that a team deployed from Kathmandu has been conducting contact tracing of the infected persons. </span><br /> <span style="font-family:Arial">COVID-19 test is being conducted on 221 suspects in Birgunj and 320 in Udayapur, according to the Ministry. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Altogether 36,719 persons have undergone the COVID-19 tests while 107 suspects are currently in isolation. </span><br /> <span style="font-family:Arial">So far, four COVID-19 patients have returned home after full recovery. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11714', 'image' => '20200422095949_13323_corona2.jpg', 'article_date' => '2020-04-22 09:58:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11963', 'article_category_id' => '1', 'title' => 'Private Sector Demands Resumption of Industries by Categorizing them into Three Zones', 'sub_title' => '', 'summary' => 'April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The umbrella organisations of the private sector made a formal request to the Ministry of Industry, Commerce and Supplies on Monday to reopen the closed industries by categorizing them into green, yellow and red zones depending on the risk of contracting coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and Confederation of Nepalese Industries (CNI) prepared the joint proposal almost in a months since the lockdown brought all the businesses to a grinding halt in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NCC Vice President Rajendra Malla said that the private sector has prepared a certain criteria for resuming operation of businesses and industries and that can be possible with the support from all three tiers of governments.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that resuming operation of industries while they have stock of raw materials will help ease scarcity of goods in the market in the coming days. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The industries can be operated by taking into account the safety standard set by the government and categorizing the sectors free from risk of coronavirus as green zones,” said Malla.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Only essential service providers like pharmaceutical companies and few industries involved in food production are currently operational due to the lockdown imposed by the government. Most of the companies have remained closed.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11713', 'image' => '20200421030500_20190201015612_sej pic (2).jpg', 'article_date' => '2020-04-21 15:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11962', 'article_category_id' => '1', 'title' => 'Government Collecting Data to Assess the Impact of Coronavirus on Tourism Industry', 'sub_title' => '', 'summary' => 'April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate. The concerned authorities are collecting data to prepare an integrated report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs say that lack of integrated data made it difficult to ascertain the actual extent of losses and in receiving relief announced by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Speaking at a video conference organised by the Society of Economic Journalists of Nepal (SEJON) on the topic of ‘Effects of coronavirus on the tourism sector of Nepal and the way forward’ on Monday, Tourism Minister Yogesh Bhattarai said that the government lacks data on the total investment made in the tourism sector of Nepal. He said that the government is currently collecting data.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“After we collect data, we will get a clear picture about the investment made in this sector, loan provided by banks, the number of people employed in tourism industry and the impact of coronavirus,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai said that the government is preparing to include relief package for the tourism sector in the upcoming budget considering this sector as a vital contributor to the country’s economy. He said that the Ministry of Culture, Tourism and Civil Aviation has been holding discussions with the finance ministry and the National Planning Commission to announce relief package for revitalizing the tourism sector.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, former CEO of Nepal Tourism Board Deepak Raj Joshi opined that the private sector and the government must work hand-in-hand to revitalize the tourism sector which has badly been affected by coronavirus.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11712', 'image' => '20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2020-04-21 14:48:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11960', 'article_category_id' => '1', 'title' => 'Lockdown Takes Toll on Foreign Trade ', 'sub_title' => '', 'summary' => 'April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The latest data from the customs department show that both imports and exports have declined down due to the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the department, Nepal's imports during the month of March declined by more than 50 percent compared to February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">In March, imports were limited to Rs 58.29 billion, compared to imports of Rs 120 billion in February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports also have declined significantly.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The export of goods which were around Rs 10 billion in February has declined by more than 6 billion in March. In March, the total value of exports shrunk to Rs 3.91 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Foreign trade with Nepal's two major trading partners, India and China, has declined sharply.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports to India, Nepal’s largest trading partner, declined to Rs 3.15 billion, while imports were limited Rs 36 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Trade with China also observed a tremendous decline due to the prolonged shutdown of the two main customs points at the northern border -- Rasuwagadhi and Tatopani. Exports to China amounted to Rs 10 million in March.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government has banned flight operation and has closed most of the customs checkpoints on both the northern and southern border points. This has affected the foreign trade severely.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">For last one month, Nepal has been importing only essential commodities from India. Import and export of goods through air route have also been affected after the government restricted international flights.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government had imposed the lockdown on March and extended it twice. The lockdown is due to expire on April 27 while the flight restriction will be lifted on April 30.</span></span></p> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11711', 'image' => '20200421011816_1587419377.jpg', 'article_date' => '2020-04-21 13:17:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11959', 'article_category_id' => '1', 'title' => 'Ill-Timed Ordinances Draw Widespread Criticism', 'sub_title' => '', 'summary' => 'April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari issued the first amendment to the Constitutional Council (function, duties, rights and procedures) Ordinance, 2077 and the second amendment to the Political Party Ordinance, 2077 upon the recommendation of the Council of Minister on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance, 2077 issued at the wrong time drew criticism not only from the opposition parties but also within the ruling Nepal Communist Party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The main opposition Nepali Congress has expressed serious dissatisfaction toward the new ordinance while the ruling party leaders have viewed the latest move of the government with suspicion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance has provision for dividing a party if either the central committee or the parliamentary party has 40 percent votes. Prior to this, both the central committee and the parliamentary party required to have 40 percent votes to split the party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Meanwhile, the Constitutional Council Ordinance allows the government to call for the constitutional council meeting without the participation of the main opposition party leader. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Political analysts have viewed the ill-timing of the ordinances with great interest. Leaders of the ruling party itself have questioned the motive of the Political Party Ordinance, which was proposed by none other that Prime Minister KP Sharma Oli.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This decision has made the political situation of the country volatile, shaking the foundation of the stable government with nearly two-thirds majority in parliament.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The ruling NCP immediately called a secretariat meeting at the Prime Minister’s Official Residence in Baluwatar on Monday evening after the cabinet recommended the president to issue the controversial ordinances. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister KP Oli briefed the meeting on the need for the ordinances. According to NCP Spokesperson Narayan Kaji Shrestha, Oli said that the government was forced to bring the ordinances as the appointments in constitutional bodies had been stalled since a long time. PM Oli reportedly argued that the ordinances would not split the NCP. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, the new ordinances have raised eyebrows at a time when the two joint chairmen of the party are at odds with each other.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Leaders at the meeting expressed annoyance that the government issued the ordinance without discussing the matter within the party first.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NCP Spokesperson Shrestha further said that the ordinances were of serious nature and they were issued without holding discussions within the party. He said that the secretariat meeting was called to discuss the issue of ordinance when the country was grappling with coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister Oli’s remark that the Political Party Ordinance will not split the NCP has shifted the focus toward the two Madhes-based parties, where dissatisfaction is rife. Meanwhile, the main opposition NC has also expressed grave concerns regarding both the ordinances.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A statement issued by NC President Sher Bahadur Deuba says that the two ordinances issued by the government at a time when it should focus on preventing the spread of coronavirus pandemic clearly shows that the government is not sensitive towards the security of its people.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NC said it was unfortunate that the government has started playing “political game” at a time when the people are fighting for their safety and lives amid the pandemic.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11710', 'image' => '20200421121817_1104092741_Clipboard01.jpg', 'article_date' => '2020-04-21 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11958', 'article_category_id' => '1', 'title' => 'Inflation Remains above 6 Percent', 'sub_title' => '', 'summary' => 'April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago, according to the latest report of Nepal Rastra Bank. Inflation is constantly on the rise despite the government’s assurance to keep it below 6 percent. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The report based on data of the first eight months of the current fiscal year states that food and beverage inflation stood </span><span style="font-family:Helvetica">at 9.33 percent whereas non-food and service inflation stood at 4.69 percent in the review month.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Within the food and beverage group, the price of vegetables, spices, pulses and legumes, meat and fish rose significantly in the review month leading to the high inflation rate,</span> <span style="font-family:Calibri">according to the central bank’s latest update on the Current Macroeconomic and Financial Situation of Nepal released on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"> “</span><span style="font-family:Helvetica">Within the non-food and service group, the price of education, health, and clothes and footwear subgroups rose moderately in the review month</span><span style="font-family:Calibri">,” the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In the review month, the Kathmandu Valley witnessed 7.61 percent inflation followed by 6.84 percent in the tarai, 5.53 percent in the hill and 5.42 percent in the mountainous region. These regions had witnessed 4.61 percent, 3.61 percent, 4.64 percent and 5.57 percent inflation respectively a year ago, according to the NRB report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In eight months of 2019/20, merchandise exports increased 22.3 percent to Rs 74.91 billion compared to an increase of 15.6 percent a year ago. Destination-wise, exports to India and other countries increased 35.5 percent and 1.1 percent respectively whereas export to China decreased 19.4 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Mainly, </span><span style="font-family:Helvetica">Exports of palm oil, cardamom, medicine (ayurvedic), herbs, jute goods, among others, increased whereas exports of zinc sheet, wire, readymade garment, juice, copper wire rod, among others, decreased in the review period. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Likewise, merchandise imports decreased 2.6 percent to Rs 924.24 billion against an increase of 23.8 percent in the same period of the previous year. Destination-wise, imports from China and other countries increased 5.5 percent and 6.8 percent respectively whereas imports from India decreased 7.5 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Imports of crude palm oil, chemical fertilizer, hot rolled sheet in coil, crude soybean oil, other machinery and parts, crude among others increased whereas imports of MS billet, gold, transport equipment and parts, petroleum products, cement, among others decreased in the review period.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Total trade deficit narrowed down 4.3 percent to Rs 849.33 billion in the eight months of 2019/20. Such deficit had expanded 24.4 percent in the same period of the previous year. The export-import ratio increased to 8.1 percent in the review period from 6.5 percent in the corresponding period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Remittance inflows decreased 1.8 percent to Rs 592.42 billion in the review period against the increase of 23.4 percent in the same period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">According to NRB, Balance of Payments (BOP) remained at a surplus of Rs 37.84 billion in the review period against a deficit of Rs 58.99 billion in the same period of the previous year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11709', 'image' => '20200421100703_20190502053738_NRB Facebook.jpg', 'article_date' => '2020-04-21 10:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11961', 'article_category_id' => '1', 'title' => 'Government to Ease Import of Black Peppers', 'sub_title' => '', 'summary' => 'April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">A secretary-level decision of the Finance Ministry has requested the Ministry of Industry, Commerce and Supplies to ascertain the actual amount of black pepper needed for industrial use for current fiscal year, informed a source. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Ministry of Finance has sent a letter requesting the Ministry of Industry, Commerce and Supplies to finalize the actual amount of black pepper required for Ayurvedic and spice industries, official at the Ministry of Industry, Commerce and Supplies informed. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government will remove its restriction on import of black pepper only after the commerce ministry sends the quantitative details.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government following request from multinational companies is preparing to make the import easier. Multinational companies had sent the ministry request letters informing that they had to stop the production of major products due to the shortage of black peppers, informed high ranking officer at the ministry. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Earlier, a cabinet meeting held on March 3 had banned the import of pepper, peas and dates from third countries under the export control act.</span></span></h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11708', 'image' => '20200421013338_1587334399.jpg', 'article_date' => '2020-04-21 13:32:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11957', 'article_category_id' => '1', 'title' => 'Private Sector Employers Decide to Deduct 50% Salary of Workers', 'sub_title' => 'Trade Unions Urge Employers not to Take Unilateral Decision', 'summary' => 'April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) had been discussing about the payment of workers since the past week. Stakeholders have reached an initial understanding to pay 50 percent salary to the workers in the private sector on the basis of the post of the worker.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Employment Council of FNCCI had initiated discussions among the stakeholders about workers’ pay during the current crisis. They agreed on Sunday to deduct 50 percent salary of the employees who make good income while those who earn little amount will not have their salary deducted.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to an informed source, they will officially inform about the decision to the government on either Monday or Tuesday (April 21). The payment of salary has become the bone of contention at a time when most of the industries and enterprises across the country have come to a halt due to the lockdown imposed by the government. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government has already released Rs 180 million as workers’ salary to the firms contributing to the Social Security Fund of the government. There is a mandatory provision for every enterprise of the private sector to contribute 31 percent of each worker’s salary to the fund in return for various facilities post-retirement but many companies are yet to comply with the government’s newly set up fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, the General Federation of Nepalese Trade Union and Nepal Trade Union Congress have urged the umbrella organisations of the employers not to fix the salary unilaterally. They argued that it does not suit the reputation of employers to bargain for one month’s salary of the staffers who have contributed to the companies for years.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President of Nepal Trade Union Congress Pushkar Acharya said that the employers cannot do injustice to the workers on the pretext of the lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The government has already released Rs 180 million as salary for the workers. In such situation, the employers cannot run away from their obligation to pay the workers,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that the employers have defied government instruction to pay the workers the salary for the month of Chaitra (mid-March to mid-April).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11707', 'image' => '20200420114122_Deduction-in-Salary.jpg', 'article_date' => '2020-04-20 11:40:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11952', 'article_category_id' => '1', 'title' => 'Govt Preparing Recovery Plans to Reduce Impacts of COVID-19: Finance Minister', 'sub_title' => '', 'summary' => 'April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Finance Dr Yuba Raj Khatiwada, who is also the government spokesperson, reportedly said that the government has been making plans to recover economy from the lockdown order, taking into consideration that trade and economic activities have been halted in the present context. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Arial Unicode MS"">Dr Khatiwada added that those plans include revitalizing the economy from the current stalemate. </span><br /> <span style="font-family:"Arial Unicode MS"">The finance minister made such remark during a meeting with the office-bearers of Nepal Chamber of Commerce on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was working to bring in investment, issue approval for new investments, resolve the problems seen in investment implementation and reduce the unproductive expenses by creating situation for mobilization of cash. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Dr Khatiwada expressed his view that the situation is still not favourable to open the international borders and resume flights but hinted that the government could relax business activities and regional mobility.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was doing homework to this end.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">“We are thinking to relax business activities and regional mobility,” RSS quoted Minister Khatiwada as saying. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the meeting, he also said that the state coffers were not in a comfortable position as the areas of expenses have increased while the sources of revenue collections were limited due to the impact of coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11706', 'image' => '20200420093640_330__MG_7700.JPG', 'article_date' => '2020-04-20 09:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11955', 'article_category_id' => '1', 'title' => 'Central Bank tells BFIs to Submit Financial Report', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">On March 25, after the government imposed a nationwide lockdown, the central bank had asked BFIs to present their financial report a week after the lockdown is lifted and the country returns to normalcy. However, the lockdown has been extended continuously since then and many businesses and industries have completely shut down.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director at the BFI Regulatory Department of NRB, Dev Kumar Dhakal, informed that the banks and financial institutions have been instructed to submit their financial reports as the central bank requires data for analysis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Governor Maha Prasad Adhikari had formed a committee to study the impacts of coronavirus soon after his appointment to the post of central bank’s governor. The committee is headed by Executive Director the Research Department of NRB, Dr Gunakar Bhatta.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The committee has been asked to study the impacts of coronavirus on the tourism, hotel, aviation, and industrial sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Coronavirus and the lockdown will have impacts on the overall economy of the country and therefore we have already started the study,” said Bhatta. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11705', 'image' => '20200420100722_1587333947.jpg', 'article_date' => '2020-04-20 10:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '11967', 'article_category_id' => '1', 'title' => 'Umbrella Organisation of Bankers Decides to Lower Interest Rate for SMEs', 'sub_title' => '', 'summary' => 'April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: The Confederation of Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of commercial banks, development banks and financial institutions of the country, has decided to charge one percent less interest on loans up to Rs 10 million from April 13 onward to small and medium-scale enterprises (SMEs). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation said that its members decided to lower the interest rate considering the impact of coronavirus on the economy and the borrowers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to CBFIN, the borrowers can enjoy the facility until further notice.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Borrowers who have taken loan from commercial banks at 10 percent interest will now have to pay 9 percent interest during this period. Likewise, individuals and firms borrowing up to Rs 4 million from development banks and Rs 2 million from finance companies can also enjoy this facility.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The confederation made this announcement on Tuesday (April 22) while unveiling a special relief package for the borrowers bearing the brunt of coronavirus and the lockdown imposed by the government. A meeting of the confederation members had taken a decision to this effect a day earlier on April 21.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the confederation has announced 10 percent discount on payment of interest within the month of Baishakh (mid-May). CBFIN said its members will also not slap any fine if the pending loans are cleared within mid-May.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11719', 'image' => '20200422115500_qqqq.jpg', 'article_date' => '2020-04-22 11:54:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11966', 'article_category_id' => '1', 'title' => 'Western Union Announces Home Delivery Service in Nepal', 'sub_title' => 'Remittance now Available at Doorstep', 'summary' => 'April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: Western Union Money Transfer on Tuesday (April 21) announced that Annapurna Travel & Tours and Hulas Rmittance will provide home delivery service for Western Union money transfers in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The agents’ home delivery service will enable customers in Nepal to receive cash from their loved ones from abroad, without leaving their homes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The company said in a statement that Annapurna Travel & Tours and Hulas Remittance will deliver money to the recipients at their doorsteps during the lockdown imposed by the government. The home delivery service will be available throughout the week including Saturday and Sunday from 10 AM to 4 PM.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“We and our Agents play a critical role in getting money to places, where and when it is most needed. As a purpose-driven global company, our mandate is to serve communities worldwide and this means not only serving the digitally enabled but also offline communities innovatively. This shared purpose holds true in these current times,” said Jean Claude Farah, president of Global Network, Western Union. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">“The launch of this new agent service - delivering money to customers’ home – will help the public access cash, thereby providing essential financial services to a broad range of customers, including those who do not hold bank accounts,” added Farah. </span></span></p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11718', 'image' => '20200422112714_remit.jpg', 'article_date' => '2020-04-22 11:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11968', 'article_category_id' => '1', 'title' => 'Imported Goods at Birgunj Customs Point Damaged by Rain', 'sub_title' => 'Importers unable to clear the goods due to lockdown', 'summary' => 'April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 22: The goods arriving at the customs office in Birgunj are stuck for many days due to the lockdown. The importers have not come to clear their goods from the customs office even though some of them have started deteriorating over the time.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The goods at the customs office are getting damaged day by day.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Representatives of the importers informed New Business Age that their goods have been damaged by the rain and storm.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Umesh Sharma, central member of the Nepal Freight Forwarders Association, informed the goods stuck in the yard of Birgunj Customs have been damaged by the rain.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He complained that the goods kept in the yards of the customs office were damaged due to lack of proper arrangement of warehouse at the customs point. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Similarly, Chief Administrator of Birgunj Customs Office, Dhundi Prasad Niraula, informed that the rain accompanied by storm on Monday washed the goods due to the lack of walls at the warehouse. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">He informed that the importers had not cleared their goods which had arrived at the customs office before the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">“Many importers did not clear their goods which were already here before the lockdown. Even though we have facilitated the clearance of goods, none of the importers have come to clear their goods,” he added.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The lockdown in both Nepal and India has caused difficulty in transportation of goods. Likewise, the flow of goods from India has also declined.</span></span></h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></h1> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11717', 'image' => '20200422121942_birgunj2 2.jpg', 'article_date' => '2020-04-22 12:18:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11965', 'article_category_id' => '1', 'title' => 'Private Sector Demands Financial Stimulus worth 5 Percent of GDP', 'sub_title' => '', 'summary' => 'April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 22: Stating that the ongoing lockdown to contain the spread of coronavirus has had a chain effect on the overall economy of the country, the private sector has urged the government to announce a fiscal stimulus package worth 5 percent of the Gross Domestic Product.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A joint proposal prepared by the umbrella bodies of the private sector including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) made such recommendation to the government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have urged the government to immediately announce a financial stimulus package. The private sector lamented that their businesses have been completely halted due to the lockdown since a month but the government is yet to announce a financial stimulus package.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal mentions that the private businesses and industries are on the verge of collapse and therefore require government support to boost their morale in such testing times.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">NCC Vice President Rajendra Malla informed that the private sector is preparing to present the proposal to the government requesting short-term, middle-term and long-term support to minimize the impacts of the lockdown on the businesses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After a week-long discussions, the three organisations representing the private sector decided to seek support from the government in basically four sectors - policy reforms, monetary, labour and employment, and electricity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The proposal includes renewal of loan and deferral of payment to the workers in case the lockdown gets extended.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">They have also demanded reduction in bank’s rate of interest by 5 percent and setting up of a fund of Rs 100 billion for renewal of loan. The private sector has requested the government to provide concessional loan from the fund to the businesses that are facing losses due to the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The private sector has maintained that it will take some time for their business to get back on track even if the government lifts the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The Labour Act 2074 has provision for the private sector to keep their employees standby during crisis and to pay 50 percent salary during such times. Therefore, the private sector has urged the government to allow them to pay 50 percent salary to their staffers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11716', 'image' => '20200422103111_stimulus 2.jpg', 'article_date' => '2020-04-22 10:30:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11969', 'article_category_id' => '1', 'title' => 'Statups on the Verge of Running out of Business', 'sub_title' => '', 'summary' => 'April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">April 22: Startup ecosystem enablers, mentors, investors and entrepreneurs have appealed the government to form a ‘Nepal Covid 19 Start-up Assistance Scheme’ to support the start-ups. According to stakeholders, majority of startups are on the verge of running out of their business. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">A committee consisting of entrepreneurs, investors, mentors and academicians have been frequently interacting with the start-ups after the lockdown. Based on interaction and study, it has been revealed that start-ups in the early stage are under the risk of dying and established start-ups with strong market presence are expressing concerns of liquidity crunch. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee submitted a ‘Startup Crisis Management Appeal’ to Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank, National Planning Commission and Ministry of Industry, Commerce and Supplies on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The written document mentions that even in a moderate risk scenario, businesses will be compelled to lay off employees in the next 4 weeks, if any relief isn’t provided by the government. “Our request for government response in facilitating the survival of start-ups is not curry-favouring. Rather, there is a strong business case for the need to support these start-ups given how deeply the sector entrenched is for Nepal’s economy in the present and the future,” mentions the document. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Arial">The committee has requested the government to provide assistance in payroll, rent, administrative expenses, and payment to vendors. The ecosystem players have also appealed to provide immediate temporary tax relief, TDS relief, VAT relief and Social Security Fund relief until one year after lockdown ends. Also, the committee has requested for collateral fee loan of Rs 5, 00,000 to Rs 5 million for one year. To qualify as a start-up under Nepal’s Ministry of Industry 2017 Start-up Policy draft, companies should have a registered life not exceeding five years, have invested capital not more than Rs 100 million and an annual turnover not exceeding Rs 100 million in any preceding fiscal year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11715', 'image' => '20200422122900_Startup copy.jpg', 'article_date' => '2020-04-22 12:27:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11964', 'article_category_id' => '1', 'title' => 'Coronavirus Cases Jump to 42 in Nepal', 'sub_title' => '', 'summary' => 'April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 22: The number of coronavirus patients in the country has jumped to 42 following confirmation of 11 new cases on Tuesday (April 21).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">All new cases have been reported in Udayapur district, where a dozen people had tested positive just five days ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">According to the national news agency RSS, Dr Samir Adhikari, joint spokesperson at the Ministry of Health and Population, confirmed the new cases.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The infected persons are from the same group of people associated with a mosque in Triyuga Municipality of Udayapur. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:Arial">The Ministry of Health and Population has said that a team deployed from Kathmandu has been conducting contact tracing of the infected persons. </span><br /> <span style="font-family:Arial">COVID-19 test is being conducted on 221 suspects in Birgunj and 320 in Udayapur, according to the Ministry. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Altogether 36,719 persons have undergone the COVID-19 tests while 107 suspects are currently in isolation. </span><br /> <span style="font-family:Arial">So far, four COVID-19 patients have returned home after full recovery. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-22', 'modified' => '2020-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '11714', 'image' => '20200422095949_13323_corona2.jpg', 'article_date' => '2020-04-22 09:58:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11963', 'article_category_id' => '1', 'title' => 'Private Sector Demands Resumption of Industries by Categorizing them into Three Zones', 'sub_title' => '', 'summary' => 'April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The private sector has proposed reopening of the businesses and industries closed by the lockdown by categorizing them into three different groups.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The umbrella organisations of the private sector made a formal request to the Ministry of Industry, Commerce and Supplies on Monday to reopen the closed industries by categorizing them into green, yellow and red zones depending on the risk of contracting coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and Confederation of Nepalese Industries (CNI) prepared the joint proposal almost in a months since the lockdown brought all the businesses to a grinding halt in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NCC Vice President Rajendra Malla said that the private sector has prepared a certain criteria for resuming operation of businesses and industries and that can be possible with the support from all three tiers of governments.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that resuming operation of industries while they have stock of raw materials will help ease scarcity of goods in the market in the coming days. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The industries can be operated by taking into account the safety standard set by the government and categorizing the sectors free from risk of coronavirus as green zones,” said Malla.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Only essential service providers like pharmaceutical companies and few industries involved in food production are currently operational due to the lockdown imposed by the government. Most of the companies have remained closed.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11713', 'image' => '20200421030500_20190201015612_sej pic (2).jpg', 'article_date' => '2020-04-21 15:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11962', 'article_category_id' => '1', 'title' => 'Government Collecting Data to Assess the Impact of Coronavirus on Tourism Industry', 'sub_title' => '', 'summary' => 'April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The tourism sector of Nepal has had to bear losses of Rs 160 billion due to the coronavirus pandemic, according to an initial estimate. The concerned authorities are collecting data to prepare an integrated report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs say that lack of integrated data made it difficult to ascertain the actual extent of losses and in receiving relief announced by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Speaking at a video conference organised by the Society of Economic Journalists of Nepal (SEJON) on the topic of ‘Effects of coronavirus on the tourism sector of Nepal and the way forward’ on Monday, Tourism Minister Yogesh Bhattarai said that the government lacks data on the total investment made in the tourism sector of Nepal. He said that the government is currently collecting data.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“After we collect data, we will get a clear picture about the investment made in this sector, loan provided by banks, the number of people employed in tourism industry and the impact of coronavirus,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai said that the government is preparing to include relief package for the tourism sector in the upcoming budget considering this sector as a vital contributor to the country’s economy. He said that the Ministry of Culture, Tourism and Civil Aviation has been holding discussions with the finance ministry and the National Planning Commission to announce relief package for revitalizing the tourism sector.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, former CEO of Nepal Tourism Board Deepak Raj Joshi opined that the private sector and the government must work hand-in-hand to revitalize the tourism sector which has badly been affected by coronavirus.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11712', 'image' => '20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2020-04-21 14:48:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11960', 'article_category_id' => '1', 'title' => 'Lockdown Takes Toll on Foreign Trade ', 'sub_title' => '', 'summary' => 'April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. ', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The ongoing nationwide lockdown to control the spread of coronavirus has severely affected foreign trade of Nepal during the month of March. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The latest data from the customs department show that both imports and exports have declined down due to the lockdown.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the department, Nepal's imports during the month of March declined by more than 50 percent compared to February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">In March, imports were limited to Rs 58.29 billion, compared to imports of Rs 120 billion in February.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports also have declined significantly.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The export of goods which were around Rs 10 billion in February has declined by more than 6 billion in March. In March, the total value of exports shrunk to Rs 3.91 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Foreign trade with Nepal's two major trading partners, India and China, has declined sharply.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Exports to India, Nepal’s largest trading partner, declined to Rs 3.15 billion, while imports were limited Rs 36 billion.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Trade with China also observed a tremendous decline due to the prolonged shutdown of the two main customs points at the northern border -- Rasuwagadhi and Tatopani. Exports to China amounted to Rs 10 million in March.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government has banned flight operation and has closed most of the customs checkpoints on both the northern and southern border points. This has affected the foreign trade severely.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">For last one month, Nepal has been importing only essential commodities from India. Import and export of goods through air route have also been affected after the government restricted international flights.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government had imposed the lockdown on March and extended it twice. The lockdown is due to expire on April 27 while the flight restriction will be lifted on April 30.</span></span></p> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11711', 'image' => '20200421011816_1587419377.jpg', 'article_date' => '2020-04-21 13:17:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11959', 'article_category_id' => '1', 'title' => 'Ill-Timed Ordinances Draw Widespread Criticism', 'sub_title' => '', 'summary' => 'April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 21: The government’s decision to issue two new controversial ordinances has courted widespread criticism at a time when it should be focused on preventing the spread of coronavirus in the country.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari issued the first amendment to the Constitutional Council (function, duties, rights and procedures) Ordinance, 2077 and the second amendment to the Political Party Ordinance, 2077 upon the recommendation of the Council of Minister on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance, 2077 issued at the wrong time drew criticism not only from the opposition parties but also within the ruling Nepal Communist Party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The main opposition Nepali Congress has expressed serious dissatisfaction toward the new ordinance while the ruling party leaders have viewed the latest move of the government with suspicion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Political Party Ordinance has provision for dividing a party if either the central committee or the parliamentary party has 40 percent votes. Prior to this, both the central committee and the parliamentary party required to have 40 percent votes to split the party.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Meanwhile, the Constitutional Council Ordinance allows the government to call for the constitutional council meeting without the participation of the main opposition party leader. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Political analysts have viewed the ill-timing of the ordinances with great interest. Leaders of the ruling party itself have questioned the motive of the Political Party Ordinance, which was proposed by none other that Prime Minister KP Sharma Oli.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This decision has made the political situation of the country volatile, shaking the foundation of the stable government with nearly two-thirds majority in parliament.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The ruling NCP immediately called a secretariat meeting at the Prime Minister’s Official Residence in Baluwatar on Monday evening after the cabinet recommended the president to issue the controversial ordinances. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister KP Oli briefed the meeting on the need for the ordinances. According to NCP Spokesperson Narayan Kaji Shrestha, Oli said that the government was forced to bring the ordinances as the appointments in constitutional bodies had been stalled since a long time. PM Oli reportedly argued that the ordinances would not split the NCP. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, the new ordinances have raised eyebrows at a time when the two joint chairmen of the party are at odds with each other.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Leaders at the meeting expressed annoyance that the government issued the ordinance without discussing the matter within the party first.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NCP Spokesperson Shrestha further said that the ordinances were of serious nature and they were issued without holding discussions within the party. He said that the secretariat meeting was called to discuss the issue of ordinance when the country was grappling with coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Prime Minister Oli’s remark that the Political Party Ordinance will not split the NCP has shifted the focus toward the two Madhes-based parties, where dissatisfaction is rife. Meanwhile, the main opposition NC has also expressed grave concerns regarding both the ordinances.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A statement issued by NC President Sher Bahadur Deuba says that the two ordinances issued by the government at a time when it should focus on preventing the spread of coronavirus pandemic clearly shows that the government is not sensitive towards the security of its people.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NC said it was unfortunate that the government has started playing “political game” at a time when the people are fighting for their safety and lives amid the pandemic.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11710', 'image' => '20200421121817_1104092741_Clipboard01.jpg', 'article_date' => '2020-04-21 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11958', 'article_category_id' => '1', 'title' => 'Inflation Remains above 6 Percent', 'sub_title' => '', 'summary' => 'April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">April 21: The year-on-year consumer price inflation stood at 6.7 percent in mid-March 2020 compared to 4.2 percent a year ago, according to the latest report of Nepal Rastra Bank. Inflation is constantly on the rise despite the government’s assurance to keep it below 6 percent. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The report based on data of the first eight months of the current fiscal year states that food and beverage inflation stood </span><span style="font-family:Helvetica">at 9.33 percent whereas non-food and service inflation stood at 4.69 percent in the review month.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Within the food and beverage group, the price of vegetables, spices, pulses and legumes, meat and fish rose significantly in the review month leading to the high inflation rate,</span> <span style="font-family:Calibri">according to the central bank’s latest update on the Current Macroeconomic and Financial Situation of Nepal released on Monday (April 20).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"> “</span><span style="font-family:Helvetica">Within the non-food and service group, the price of education, health, and clothes and footwear subgroups rose moderately in the review month</span><span style="font-family:Calibri">,” the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In the review month, the Kathmandu Valley witnessed 7.61 percent inflation followed by 6.84 percent in the tarai, 5.53 percent in the hill and 5.42 percent in the mountainous region. These regions had witnessed 4.61 percent, 3.61 percent, 4.64 percent and 5.57 percent inflation respectively a year ago, according to the NRB report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">In eight months of 2019/20, merchandise exports increased 22.3 percent to Rs 74.91 billion compared to an increase of 15.6 percent a year ago. Destination-wise, exports to India and other countries increased 35.5 percent and 1.1 percent respectively whereas export to China decreased 19.4 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Mainly, </span><span style="font-family:Helvetica">Exports of palm oil, cardamom, medicine (ayurvedic), herbs, jute goods, among others, increased whereas exports of zinc sheet, wire, readymade garment, juice, copper wire rod, among others, decreased in the review period. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Likewise, merchandise imports decreased 2.6 percent to Rs 924.24 billion against an increase of 23.8 percent in the same period of the previous year. Destination-wise, imports from China and other countries increased 5.5 percent and 6.8 percent respectively whereas imports from India decreased 7.5 percent.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Imports of crude palm oil, chemical fertilizer, hot rolled sheet in coil, crude soybean oil, other machinery and parts, crude among others increased whereas imports of MS billet, gold, transport equipment and parts, petroleum products, cement, among others decreased in the review period.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Total trade deficit narrowed down 4.3 percent to Rs 849.33 billion in the eight months of 2019/20. Such deficit had expanded 24.4 percent in the same period of the previous year. The export-import ratio increased to 8.1 percent in the review period from 6.5 percent in the corresponding period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">Remittance inflows decreased 1.8 percent to Rs 592.42 billion in the review period against the increase of 23.4 percent in the same period of the previous year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Calibri">According to NRB, Balance of Payments (BOP) remained at a surplus of Rs 37.84 billion in the review period against a deficit of Rs 58.99 billion in the same period of the previous year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11709', 'image' => '20200421100703_20190502053738_NRB Facebook.jpg', 'article_date' => '2020-04-21 10:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11961', 'article_category_id' => '1', 'title' => 'Government to Ease Import of Black Peppers', 'sub_title' => '', 'summary' => 'April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 21: The government is preparing to ease the restriction on import of black pepper after the herbal medicinal plants in the country started facing shortage of raw materials to make Ayruvedic medicine with the use of the spice.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">A secretary-level decision of the Finance Ministry has requested the Ministry of Industry, Commerce and Supplies to ascertain the actual amount of black pepper needed for industrial use for current fiscal year, informed a source. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Ministry of Finance has sent a letter requesting the Ministry of Industry, Commerce and Supplies to finalize the actual amount of black pepper required for Ayurvedic and spice industries, official at the Ministry of Industry, Commerce and Supplies informed. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government will remove its restriction on import of black pepper only after the commerce ministry sends the quantitative details.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The government following request from multinational companies is preparing to make the import easier. Multinational companies had sent the ministry request letters informing that they had to stop the production of major products due to the shortage of black peppers, informed high ranking officer at the ministry. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Earlier, a cabinet meeting held on March 3 had banned the import of pepper, peas and dates from third countries under the export control act.</span></span></h1> <h1> </h1> <h1> </h1> ', 'published' => true, 'created' => '2020-04-21', 'modified' => '2020-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '11708', 'image' => '20200421013338_1587334399.jpg', 'article_date' => '2020-04-21 13:32:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11957', 'article_category_id' => '1', 'title' => 'Private Sector Employers Decide to Deduct 50% Salary of Workers', 'sub_title' => 'Trade Unions Urge Employers not to Take Unilateral Decision', 'summary' => 'April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Umbrella organisations of Nepal’s business enterprises and industries have inched closer to an agreement regarding payment of workers during the lockdown period. The Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) had been discussing about the payment of workers since the past week. Stakeholders have reached an initial understanding to pay 50 percent salary to the workers in the private sector on the basis of the post of the worker.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Employment Council of FNCCI had initiated discussions among the stakeholders about workers’ pay during the current crisis. They agreed on Sunday to deduct 50 percent salary of the employees who make good income while those who earn little amount will not have their salary deducted.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to an informed source, they will officially inform about the decision to the government on either Monday or Tuesday (April 21). The payment of salary has become the bone of contention at a time when most of the industries and enterprises across the country have come to a halt due to the lockdown imposed by the government. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government has already released Rs 180 million as workers’ salary to the firms contributing to the Social Security Fund of the government. There is a mandatory provision for every enterprise of the private sector to contribute 31 percent of each worker’s salary to the fund in return for various facilities post-retirement but many companies are yet to comply with the government’s newly set up fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, the General Federation of Nepalese Trade Union and Nepal Trade Union Congress have urged the umbrella organisations of the employers not to fix the salary unilaterally. They argued that it does not suit the reputation of employers to bargain for one month’s salary of the staffers who have contributed to the companies for years.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">President of Nepal Trade Union Congress Pushkar Acharya said that the employers cannot do injustice to the workers on the pretext of the lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The government has already released Rs 180 million as salary for the workers. In such situation, the employers cannot run away from their obligation to pay the workers,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He argued that the employers have defied government instruction to pay the workers the salary for the month of Chaitra (mid-March to mid-April).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11707', 'image' => '20200420114122_Deduction-in-Salary.jpg', 'article_date' => '2020-04-20 11:40:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11952', 'article_category_id' => '1', 'title' => 'Govt Preparing Recovery Plans to Reduce Impacts of COVID-19: Finance Minister', 'sub_title' => '', 'summary' => 'April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has said it is preparing recovery plans to reduce the impacts of the nationwide lockdown on the country’s economy, the national news agency RSS reported. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Finance Dr Yuba Raj Khatiwada, who is also the government spokesperson, reportedly said that the government has been making plans to recover economy from the lockdown order, taking into consideration that trade and economic activities have been halted in the present context. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Arial Unicode MS"">Dr Khatiwada added that those plans include revitalizing the economy from the current stalemate. </span><br /> <span style="font-family:"Arial Unicode MS"">The finance minister made such remark during a meeting with the office-bearers of Nepal Chamber of Commerce on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was working to bring in investment, issue approval for new investments, resolve the problems seen in investment implementation and reduce the unproductive expenses by creating situation for mobilization of cash. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Dr Khatiwada expressed his view that the situation is still not favourable to open the international borders and resume flights but hinted that the government could relax business activities and regional mobility.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">He said that the government was doing homework to this end.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">“We are thinking to relax business activities and regional mobility,” RSS quoted Minister Khatiwada as saying. </span></span><br /> <span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the meeting, he also said that the state coffers were not in a comfortable position as the areas of expenses have increased while the sources of revenue collections were limited due to the impact of coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11706', 'image' => '20200420093640_330__MG_7700.JPG', 'article_date' => '2020-04-20 09:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11955', 'article_category_id' => '1', 'title' => 'Central Bank tells BFIs to Submit Financial Report', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">April 20: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to present their financial report regularly as the central bank has to study the impacts of coronavirus on the country’s economy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">On March 25, after the government imposed a nationwide lockdown, the central bank had asked BFIs to present their financial report a week after the lockdown is lifted and the country returns to normalcy. However, the lockdown has been extended continuously since then and many businesses and industries have completely shut down.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director at the BFI Regulatory Department of NRB, Dev Kumar Dhakal, informed that the banks and financial institutions have been instructed to submit their financial reports as the central bank requires data for analysis.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Governor Maha Prasad Adhikari had formed a committee to study the impacts of coronavirus soon after his appointment to the post of central bank’s governor. The committee is headed by Executive Director the Research Department of NRB, Dr Gunakar Bhatta.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The committee has been asked to study the impacts of coronavirus on the tourism, hotel, aviation, and industrial sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Coronavirus and the lockdown will have impacts on the overall economy of the country and therefore we have already started the study,” said Bhatta. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-20', 'modified' => '2020-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '11705', 'image' => '20200420100722_1587333947.jpg', 'article_date' => '2020-04-20 10:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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
