NEWS

Nepal Leapfrogs 16 Spots in Doing Business Index

Oct 24, 2019 0 3 minutes 22 seconds to read

October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year…

IPPAN Power Summit in November

Oct 24, 2019 0 1 minutes 29 seconds to read

October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November.…

Remittance Slumps after 19 months

Oct 24, 2019 0 2 minutes 49 seconds to read

October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.…

Concept of Flight School in Nepal in Limbo

Oct 23, 2019 0 2 minutes 52 seconds to read

October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo.…

Insurance Information Centre in the Offing

Oct 23, 2019 0 1 minutes 37 seconds to read

October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector.…

Nepal-Bangladesh Trade Talks Begin

Oct 23, 2019 0 3 minutes 6 seconds to read

October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday.…

Police to Present Report of ATM Hacking within 2 weeks

Oct 23, 2019 0 1 minutes 43 seconds to read

October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two…

Three New Int’l Airlines to Operate Flights to Nepal

Oct 23, 2019 0 2 minutes 58 seconds to read

October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon.…

Finance Minister Urges Donor Organisations to Increase Investment

Oct 22, 2019 0 1 minutes 26 seconds to read

October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal.…

Government to form Powerful Autonomous Body to Regulate all Public Companies

Oct 22, 2019 0 2 minutes 28 seconds to read

October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public…

Government to Announce Packages for Airline Operators to Promote Gautam Buddha Int’l Airport

Oct 22, 2019 0 1 minutes 33 seconds to read

October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport.…

PM Oli Lays Foundation Stone of Nagdhunga-Naubise Tunnel

Oct 22, 2019 0 1 minutes 48 seconds to read

October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October…

VNY Secretariat signs agreement with NRNA for Tourism Promotion

Oct 21, 2019 0 1 minutes 47 seconds to read

October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year…

Anti Money Laundering Training for Government Officials in India

Oct 22, 2019 0 1 minutes 39 seconds to read

October 22: The second group of 18 officers of the Government of Nepal have started their training on ‘Anti-Money Laundering and Countering Financing of Terrorism’ at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October…

Central Bank Preparing for Fresh Bids to Sell its NEPSE Shares

Oct 21, 2019 0 1 minutes 33 seconds to read

October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange.…

< previous607608609610611612613614615next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11329',
			'image' => '20191024114321_Doing Business.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
			'image' => '20191024095230_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11326',
			'image' => '20191023021033_cpl (2) 2.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11325',
			'image' => '20191023114923_aaaaa.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11323',
			'image' => '20191023111556_adffff.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11322',
			'image' => '20191023101643_20190926104016_aaaafdfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11321',
			'image' => '20191023092643_aaaadfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11320',
			'image' => '20191022025030_20190927045330__MG_7700.JPG',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '11565',
			'article_category_id' => '1',
			'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
			'sub_title' => '',
			'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,&rdquo; said the official requesting anonymity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11316',
			'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '11566',
			'article_category_id' => '1',
			'title' => 'Government to Announce Packages for Airline Operators to Promote Gautam Buddha Int’l Airport',
			'sub_title' => '',
			'summary' => 'October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that the airline companies will be provided various concessions under the promotion package.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The airport is in the final stage of completion. The construction of the runway and other infrastructure is already complete. According to the Civil Aviation Authority of Nepal (CAAN), the overall progress of the airport is between 80 to 85 percent on the infrastructure front.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the airport management, the construction of the terminal building, control tower, water tank, administrative building, security guard building, and other infrastructure are in the final phase of completion.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the works of electrification, construction of taxi parking and setting the roof of the international departure building is currently underway.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the initial plan, the project is expected to be completed within 2019. The government plans to operate the airport from March 2020 after completing all the policy-level procedures within the first three months of next year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government will have to get approval from the International Civil Aviation Organisation (ICAO) for operating the airport once the construction work finishes.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Cjina&rsquo;s NorthwestCivil Aviation Airport Construction Group has been undertaking the construction of the project worth Rs 6.22 billion.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11315',
			'image' => '20191022114032_hqdefault.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '11563',
			'article_category_id' => '1',
			'title' => 'PM Oli Lays Foundation Stone of Nagdhunga-Naubise Tunnel',
			'sub_title' => '',
			'summary' => 'October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.',
			'content' => '<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">During the ceremony, the prime minister expressed special appreciation towards the Government of Japan and Japan International Cooperation Agency (JICA) for their support in constructing this landmark project said to be the first tunnel of Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">PM Oli expressed his belief that this breakthrough project will immensely help in improving the trading of goods through smooth vehicular movement for commercial activities and bring prosperity in the economic condition of the country, JICA said in a statement.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The Nagdhunga Tunnel Construction Project is a loan project funded by the Government of Japan where JICA is the development partner providing loan assistance of Japanese yen worth 16.636 billion. </span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">According to the statement, the objective of the project is to improve the road condition around Nagdhunga pass by constructing a tunnel, thereby contributing to achieve a smooth transportation network between Kathmandu and other principal cities in Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">JICA further said that the commencement of this tunnel project will be the first of its kind in Nepal. The highway will have two lanes of 2.7 kilometers in length and is&nbsp; expected to reduce the time to clear Nagdhunga Pass to one-third of the current time (currently 30 minutes when heading east and 20 minutes w</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The executing agency for this project is the Ministry for Physical Infrastructure and Transport and the construction period is expected to be around 3.5 years.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">Last month, the ministry had signed a contract with Hazma Ando Corporation of Japan to undertake this project.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11314',
			'image' => '20191022092808_Nagdhunga pic 2.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '11562',
			'article_category_id' => '1',
			'title' => 'VNY Secretariat signs agreement with NRNA for Tourism Promotion ',
			'sub_title' => '',
			'summary' => 'October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Suraj Vaidya, national coordinator for the Visit Nepal 2020 campaign and Kumar Panta, newly elected President of NRNA signed the agreement amid an event on Sunday, October 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The 17 points agreement signed between the two organizations mentions that every NRN residing abroad will start a campaign to send a foreign tourist each to Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Similarly, the association will also mobilize the necessary manpower to operate the &#39;Visit Nepal Year Promotion Room&#39; at the Nepalese embassies and missions around the world.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Additionally, the association in coordination with the Secretariat will organize all of its seminars in Nepal and will launch &#39;Splendid Holiday in Nepal with Family and Friend&#39; campaign.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The agreement also includes car and bicycle rallies around the world, inviting foreign based Nepali employers, business partners and others to visit Nepal during VNY.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Minister for Tourism Yogesh Bhattarai during the occasion informed that the agreement between VNY Secretariat and NRN is very crucial for making the tourism campaign successful. &nbsp;&nbsp;VNY 2020 is only two months away and execution of the agreement will help the tourism campaign to succeed, the minister added. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11313',
			'image' => '20191021034625_201906 2.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '11564',
			'article_category_id' => '1',
			'title' => 'Anti Money Laundering Training for Government Officials in India',
			'sub_title' => '',
			'summary' => 'October 22: The second group of 18 officers of the Government of Nepal have started their training on ‘Anti-Money Laundering and Countering Financing of Terrorism’ at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">October 22: The second group of 18 officers of the Government of Nepal have started their training on &lsquo;Anti-Money Laundering and Countering Financing of Terrorism&rsquo; at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">According to the Indian Embassy, this is a special tailor-made course designed at the request of the Government of Nepal for a total of 60 officers. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">A statement issued by the embassy says this cooperation is an example of Government of India&rsquo;s commitment to enhance the capacities of various agencies of the Government of Nepal. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The embassy further said that the training will enhance the capabilities of participating officers to effectively deal with the matters pertaining to Anti-Money Laundering and Countering Financing of Terrorism. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The first group of 20 Nepali officers had successfully completed their 6-days training on August 24, 2019. The third batch of 21 officers will undergo training in December 2019, the statement added.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The NACIN is a premier training institute of the Government of India in the field of financial investigations and anti-money laundering matters with state-of-the-art learning facilities, according to the statement. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">It is an accredited Regional Training Centre of World Customs Organization for Asia/Pacific Region and also works in collaboration with other international organizations like UNEP, UNODC, SASEC, etc, added the statement.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11312',
			'image' => '20191022094406_DMLI.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '11561',
			'article_category_id' => '1',
			'title' => 'Central Bank Preparing for Fresh Bids to Sell its NEPSE Shares',
			'sub_title' => '',
			'summary' => 'October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. Out of the 34.6 percent shares, the central bank was able to auction only 20 percent shares earlier in July.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">According to Nepal Rastra Bank regulation, the central bank cannot invest in more than 10 percent shares in any organization. However, NRB owned 34.60 percent of the total capital of NEPSE, which is now down to 14.4 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Meanwhile, Nepal government owns 58.66 percent of the total share. Likewise, Rastra Banjiya Bank owns 6.12 percent and the remaining shares belong to other companies. &nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Murari Parajuli, spokesperson of NEPSE, had said that the central bank decided to sell the shares in accordance to the government&rsquo;s plan of restructuring NEPSE under the Strategic Plan for Development of Financial Sector. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">NRB in a statement on July 16 had urged the eligible companies interested in purchasing its share of NEPSE to submit a sealed quotation to the finance management depart of NRB by August 18. But the central bank has not fixed the date for announcing new bids this time. However, NRB Spokesperson Laxmi Prapanna Niraula said that the invitation for bids will be announced within a month.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11311',
			'image' => '20191021033946_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	)
)
$current_user = null
$logged_in = false
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

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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]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' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11329',
			'image' => '20191024114321_Doing Business.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
			'image' => '20191024095230_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11326',
			'image' => '20191023021033_cpl (2) 2.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11325',
			'image' => '20191023114923_aaaaa.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11323',
			'image' => '20191023111556_adffff.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11322',
			'image' => '20191023101643_20190926104016_aaaafdfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11321',
			'image' => '20191023092643_aaaadfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11320',
			'image' => '20191022025030_20190927045330__MG_7700.JPG',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '11565',
			'article_category_id' => '1',
			'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
			'sub_title' => '',
			'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,&rdquo; said the official requesting anonymity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11316',
			'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '11566',
			'article_category_id' => '1',
			'title' => 'Government to Announce Packages for Airline Operators to Promote Gautam Buddha Int’l Airport',
			'sub_title' => '',
			'summary' => 'October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that the airline companies will be provided various concessions under the promotion package.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The airport is in the final stage of completion. The construction of the runway and other infrastructure is already complete. According to the Civil Aviation Authority of Nepal (CAAN), the overall progress of the airport is between 80 to 85 percent on the infrastructure front.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the airport management, the construction of the terminal building, control tower, water tank, administrative building, security guard building, and other infrastructure are in the final phase of completion.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the works of electrification, construction of taxi parking and setting the roof of the international departure building is currently underway.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the initial plan, the project is expected to be completed within 2019. The government plans to operate the airport from March 2020 after completing all the policy-level procedures within the first three months of next year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government will have to get approval from the International Civil Aviation Organisation (ICAO) for operating the airport once the construction work finishes.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Cjina&rsquo;s NorthwestCivil Aviation Airport Construction Group has been undertaking the construction of the project worth Rs 6.22 billion.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11315',
			'image' => '20191022114032_hqdefault.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '11563',
			'article_category_id' => '1',
			'title' => 'PM Oli Lays Foundation Stone of Nagdhunga-Naubise Tunnel',
			'sub_title' => '',
			'summary' => 'October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.',
			'content' => '<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">During the ceremony, the prime minister expressed special appreciation towards the Government of Japan and Japan International Cooperation Agency (JICA) for their support in constructing this landmark project said to be the first tunnel of Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">PM Oli expressed his belief that this breakthrough project will immensely help in improving the trading of goods through smooth vehicular movement for commercial activities and bring prosperity in the economic condition of the country, JICA said in a statement.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The Nagdhunga Tunnel Construction Project is a loan project funded by the Government of Japan where JICA is the development partner providing loan assistance of Japanese yen worth 16.636 billion. </span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">According to the statement, the objective of the project is to improve the road condition around Nagdhunga pass by constructing a tunnel, thereby contributing to achieve a smooth transportation network between Kathmandu and other principal cities in Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">JICA further said that the commencement of this tunnel project will be the first of its kind in Nepal. The highway will have two lanes of 2.7 kilometers in length and is&nbsp; expected to reduce the time to clear Nagdhunga Pass to one-third of the current time (currently 30 minutes when heading east and 20 minutes w</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The executing agency for this project is the Ministry for Physical Infrastructure and Transport and the construction period is expected to be around 3.5 years.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">Last month, the ministry had signed a contract with Hazma Ando Corporation of Japan to undertake this project.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11314',
			'image' => '20191022092808_Nagdhunga pic 2.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '11562',
			'article_category_id' => '1',
			'title' => 'VNY Secretariat signs agreement with NRNA for Tourism Promotion ',
			'sub_title' => '',
			'summary' => 'October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Suraj Vaidya, national coordinator for the Visit Nepal 2020 campaign and Kumar Panta, newly elected President of NRNA signed the agreement amid an event on Sunday, October 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The 17 points agreement signed between the two organizations mentions that every NRN residing abroad will start a campaign to send a foreign tourist each to Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Similarly, the association will also mobilize the necessary manpower to operate the &#39;Visit Nepal Year Promotion Room&#39; at the Nepalese embassies and missions around the world.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Additionally, the association in coordination with the Secretariat will organize all of its seminars in Nepal and will launch &#39;Splendid Holiday in Nepal with Family and Friend&#39; campaign.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The agreement also includes car and bicycle rallies around the world, inviting foreign based Nepali employers, business partners and others to visit Nepal during VNY.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Minister for Tourism Yogesh Bhattarai during the occasion informed that the agreement between VNY Secretariat and NRN is very crucial for making the tourism campaign successful. &nbsp;&nbsp;VNY 2020 is only two months away and execution of the agreement will help the tourism campaign to succeed, the minister added. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11313',
			'image' => '20191021034625_201906 2.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '11564',
			'article_category_id' => '1',
			'title' => 'Anti Money Laundering Training for Government Officials in India',
			'sub_title' => '',
			'summary' => 'October 22: The second group of 18 officers of the Government of Nepal have started their training on ‘Anti-Money Laundering and Countering Financing of Terrorism’ at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">October 22: The second group of 18 officers of the Government of Nepal have started their training on &lsquo;Anti-Money Laundering and Countering Financing of Terrorism&rsquo; at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">According to the Indian Embassy, this is a special tailor-made course designed at the request of the Government of Nepal for a total of 60 officers. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">A statement issued by the embassy says this cooperation is an example of Government of India&rsquo;s commitment to enhance the capacities of various agencies of the Government of Nepal. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The embassy further said that the training will enhance the capabilities of participating officers to effectively deal with the matters pertaining to Anti-Money Laundering and Countering Financing of Terrorism. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The first group of 20 Nepali officers had successfully completed their 6-days training on August 24, 2019. The third batch of 21 officers will undergo training in December 2019, the statement added.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The NACIN is a premier training institute of the Government of India in the field of financial investigations and anti-money laundering matters with state-of-the-art learning facilities, according to the statement. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">It is an accredited Regional Training Centre of World Customs Organization for Asia/Pacific Region and also works in collaboration with other international organizations like UNEP, UNODC, SASEC, etc, added the statement.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11312',
			'image' => '20191022094406_DMLI.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '11561',
			'article_category_id' => '1',
			'title' => 'Central Bank Preparing for Fresh Bids to Sell its NEPSE Shares',
			'sub_title' => '',
			'summary' => 'October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. Out of the 34.6 percent shares, the central bank was able to auction only 20 percent shares earlier in July.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">According to Nepal Rastra Bank regulation, the central bank cannot invest in more than 10 percent shares in any organization. However, NRB owned 34.60 percent of the total capital of NEPSE, which is now down to 14.4 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Meanwhile, Nepal government owns 58.66 percent of the total share. Likewise, Rastra Banjiya Bank owns 6.12 percent and the remaining shares belong to other companies. &nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Murari Parajuli, spokesperson of NEPSE, had said that the central bank decided to sell the shares in accordance to the government&rsquo;s plan of restructuring NEPSE under the Strategic Plan for Development of Financial Sector. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">NRB in a statement on July 16 had urged the eligible companies interested in purchasing its share of NEPSE to submit a sealed quotation to the finance management depart of NRB by August 18. But the central bank has not fixed the date for announcing new bids this time. However, NRB Spokesperson Laxmi Prapanna Niraula said that the invitation for bids will be announced within a month.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11311',
			'image' => '20191021033946_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_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

file not found!

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' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11329',
			'image' => '20191024114321_Doing Business.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
			'image' => '20191024095230_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11326',
			'image' => '20191023021033_cpl (2) 2.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11325',
			'image' => '20191023114923_aaaaa.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11323',
			'image' => '20191023111556_adffff.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11322',
			'image' => '20191023101643_20190926104016_aaaafdfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11321',
			'image' => '20191023092643_aaaadfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11320',
			'image' => '20191022025030_20190927045330__MG_7700.JPG',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '11565',
			'article_category_id' => '1',
			'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
			'sub_title' => '',
			'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,&rdquo; said the official requesting anonymity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11316',
			'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '11566',
			'article_category_id' => '1',
			'title' => 'Government to Announce Packages for Airline Operators to Promote Gautam Buddha Int’l Airport',
			'sub_title' => '',
			'summary' => 'October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that the airline companies will be provided various concessions under the promotion package.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The airport is in the final stage of completion. The construction of the runway and other infrastructure is already complete. According to the Civil Aviation Authority of Nepal (CAAN), the overall progress of the airport is between 80 to 85 percent on the infrastructure front.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the airport management, the construction of the terminal building, control tower, water tank, administrative building, security guard building, and other infrastructure are in the final phase of completion.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the works of electrification, construction of taxi parking and setting the roof of the international departure building is currently underway.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the initial plan, the project is expected to be completed within 2019. The government plans to operate the airport from March 2020 after completing all the policy-level procedures within the first three months of next year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government will have to get approval from the International Civil Aviation Organisation (ICAO) for operating the airport once the construction work finishes.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Cjina&rsquo;s NorthwestCivil Aviation Airport Construction Group has been undertaking the construction of the project worth Rs 6.22 billion.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11315',
			'image' => '20191022114032_hqdefault.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '11563',
			'article_category_id' => '1',
			'title' => 'PM Oli Lays Foundation Stone of Nagdhunga-Naubise Tunnel',
			'sub_title' => '',
			'summary' => 'October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.',
			'content' => '<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">During the ceremony, the prime minister expressed special appreciation towards the Government of Japan and Japan International Cooperation Agency (JICA) for their support in constructing this landmark project said to be the first tunnel of Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">PM Oli expressed his belief that this breakthrough project will immensely help in improving the trading of goods through smooth vehicular movement for commercial activities and bring prosperity in the economic condition of the country, JICA said in a statement.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The Nagdhunga Tunnel Construction Project is a loan project funded by the Government of Japan where JICA is the development partner providing loan assistance of Japanese yen worth 16.636 billion. </span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">According to the statement, the objective of the project is to improve the road condition around Nagdhunga pass by constructing a tunnel, thereby contributing to achieve a smooth transportation network between Kathmandu and other principal cities in Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">JICA further said that the commencement of this tunnel project will be the first of its kind in Nepal. The highway will have two lanes of 2.7 kilometers in length and is&nbsp; expected to reduce the time to clear Nagdhunga Pass to one-third of the current time (currently 30 minutes when heading east and 20 minutes w</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The executing agency for this project is the Ministry for Physical Infrastructure and Transport and the construction period is expected to be around 3.5 years.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">Last month, the ministry had signed a contract with Hazma Ando Corporation of Japan to undertake this project.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11314',
			'image' => '20191022092808_Nagdhunga pic 2.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '11562',
			'article_category_id' => '1',
			'title' => 'VNY Secretariat signs agreement with NRNA for Tourism Promotion ',
			'sub_title' => '',
			'summary' => 'October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Suraj Vaidya, national coordinator for the Visit Nepal 2020 campaign and Kumar Panta, newly elected President of NRNA signed the agreement amid an event on Sunday, October 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The 17 points agreement signed between the two organizations mentions that every NRN residing abroad will start a campaign to send a foreign tourist each to Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Similarly, the association will also mobilize the necessary manpower to operate the &#39;Visit Nepal Year Promotion Room&#39; at the Nepalese embassies and missions around the world.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Additionally, the association in coordination with the Secretariat will organize all of its seminars in Nepal and will launch &#39;Splendid Holiday in Nepal with Family and Friend&#39; campaign.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The agreement also includes car and bicycle rallies around the world, inviting foreign based Nepali employers, business partners and others to visit Nepal during VNY.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Minister for Tourism Yogesh Bhattarai during the occasion informed that the agreement between VNY Secretariat and NRN is very crucial for making the tourism campaign successful. &nbsp;&nbsp;VNY 2020 is only two months away and execution of the agreement will help the tourism campaign to succeed, the minister added. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11313',
			'image' => '20191021034625_201906 2.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '11564',
			'article_category_id' => '1',
			'title' => 'Anti Money Laundering Training for Government Officials in India',
			'sub_title' => '',
			'summary' => 'October 22: The second group of 18 officers of the Government of Nepal have started their training on ‘Anti-Money Laundering and Countering Financing of Terrorism’ at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">October 22: The second group of 18 officers of the Government of Nepal have started their training on &lsquo;Anti-Money Laundering and Countering Financing of Terrorism&rsquo; at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">According to the Indian Embassy, this is a special tailor-made course designed at the request of the Government of Nepal for a total of 60 officers. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">A statement issued by the embassy says this cooperation is an example of Government of India&rsquo;s commitment to enhance the capacities of various agencies of the Government of Nepal. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The embassy further said that the training will enhance the capabilities of participating officers to effectively deal with the matters pertaining to Anti-Money Laundering and Countering Financing of Terrorism. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The first group of 20 Nepali officers had successfully completed their 6-days training on August 24, 2019. The third batch of 21 officers will undergo training in December 2019, the statement added.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The NACIN is a premier training institute of the Government of India in the field of financial investigations and anti-money laundering matters with state-of-the-art learning facilities, according to the statement. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">It is an accredited Regional Training Centre of World Customs Organization for Asia/Pacific Region and also works in collaboration with other international organizations like UNEP, UNODC, SASEC, etc, added the statement.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11312',
			'image' => '20191022094406_DMLI.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '11561',
			'article_category_id' => '1',
			'title' => 'Central Bank Preparing for Fresh Bids to Sell its NEPSE Shares',
			'sub_title' => '',
			'summary' => 'October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. Out of the 34.6 percent shares, the central bank was able to auction only 20 percent shares earlier in July.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">According to Nepal Rastra Bank regulation, the central bank cannot invest in more than 10 percent shares in any organization. However, NRB owned 34.60 percent of the total capital of NEPSE, which is now down to 14.4 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Meanwhile, Nepal government owns 58.66 percent of the total share. Likewise, Rastra Banjiya Bank owns 6.12 percent and the remaining shares belong to other companies. &nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Murari Parajuli, spokesperson of NEPSE, had said that the central bank decided to sell the shares in accordance to the government&rsquo;s plan of restructuring NEPSE under the Strategic Plan for Development of Financial Sector. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">NRB in a statement on July 16 had urged the eligible companies interested in purchasing its share of NEPSE to submit a sealed quotation to the finance management depart of NRB by August 18. But the central bank has not fixed the date for announcing new bids this time. However, NRB Spokesperson Laxmi Prapanna Niraula said that the invitation for bids will be announced within a month.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11311',
			'image' => '20191021033946_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
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

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 &quot;&quot; [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' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11329',
			'image' => '20191024114321_Doing Business.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
			'image' => '20191024095230_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-24 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11326',
			'image' => '20191023021033_cpl (2) 2.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11325',
			'image' => '20191023114923_aaaaa.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11323',
			'image' => '20191023111556_adffff.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11322',
			'image' => '20191023101643_20190926104016_aaaafdfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11321',
			'image' => '20191023092643_aaaadfg.jpg',
			'article_date' => '2019-10-23 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11320',
			'image' => '20191022025030_20190927045330__MG_7700.JPG',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '11565',
			'article_category_id' => '1',
			'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
			'sub_title' => '',
			'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,&rdquo; said the official requesting anonymity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11316',
			'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '11566',
			'article_category_id' => '1',
			'title' => 'Government to Announce Packages for Airline Operators to Promote Gautam Buddha Int’l Airport',
			'sub_title' => '',
			'summary' => 'October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government is preparing to announce various packages for airline companies in order to promote Gautam Buddha International Airport. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that the airline companies will be provided various concessions under the promotion package.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The airport is in the final stage of completion. The construction of the runway and other infrastructure is already complete. According to the Civil Aviation Authority of Nepal (CAAN), the overall progress of the airport is between 80 to 85 percent on the infrastructure front.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the airport management, the construction of the terminal building, control tower, water tank, administrative building, security guard building, and other infrastructure are in the final phase of completion.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the works of electrification, construction of taxi parking and setting the roof of the international departure building is currently underway.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the initial plan, the project is expected to be completed within 2019. The government plans to operate the airport from March 2020 after completing all the policy-level procedures within the first three months of next year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government will have to get approval from the International Civil Aviation Organisation (ICAO) for operating the airport once the construction work finishes.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Cjina&rsquo;s NorthwestCivil Aviation Airport Construction Group has been undertaking the construction of the project worth Rs 6.22 billion.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11315',
			'image' => '20191022114032_hqdefault.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '11563',
			'article_category_id' => '1',
			'title' => 'PM Oli Lays Foundation Stone of Nagdhunga-Naubise Tunnel',
			'sub_title' => '',
			'summary' => 'October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.',
			'content' => '<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">October 22: Prime Minister KP Sharma Oli laid the foundation stone of the Nagdhunga-Naubise Tunnel amid a function at Chandargiri Municipality on Monday, October 21.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">During the ceremony, the prime minister expressed special appreciation towards the Government of Japan and Japan International Cooperation Agency (JICA) for their support in constructing this landmark project said to be the first tunnel of Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">PM Oli expressed his belief that this breakthrough project will immensely help in improving the trading of goods through smooth vehicular movement for commercial activities and bring prosperity in the economic condition of the country, JICA said in a statement.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The Nagdhunga Tunnel Construction Project is a loan project funded by the Government of Japan where JICA is the development partner providing loan assistance of Japanese yen worth 16.636 billion. </span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">According to the statement, the objective of the project is to improve the road condition around Nagdhunga pass by constructing a tunnel, thereby contributing to achieve a smooth transportation network between Kathmandu and other principal cities in Nepal.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">JICA further said that the commencement of this tunnel project will be the first of its kind in Nepal. The highway will have two lanes of 2.7 kilometers in length and is&nbsp; expected to reduce the time to clear Nagdhunga Pass to one-third of the current time (currently 30 minutes when heading east and 20 minutes w</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">The executing agency for this project is the Ministry for Physical Infrastructure and Transport and the construction period is expected to be around 3.5 years.</span></span></p>

<p><span style="font-size:10.5pt"><span style="font-family:游明朝,serif">Last month, the ministry had signed a contract with Hazma Ando Corporation of Japan to undertake this project.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11314',
			'image' => '20191022092808_Nagdhunga pic 2.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '11562',
			'article_category_id' => '1',
			'title' => 'VNY Secretariat signs agreement with NRNA for Tourism Promotion ',
			'sub_title' => '',
			'summary' => 'October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">October 21: Visit Nepal Secretariat has signed an agreement with Non-Residential Nepali Association (NRNA) for promoting Visit Nepal Year 2020.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Suraj Vaidya, national coordinator for the Visit Nepal 2020 campaign and Kumar Panta, newly elected President of NRNA signed the agreement amid an event on Sunday, October 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The 17 points agreement signed between the two organizations mentions that every NRN residing abroad will start a campaign to send a foreign tourist each to Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Similarly, the association will also mobilize the necessary manpower to operate the &#39;Visit Nepal Year Promotion Room&#39; at the Nepalese embassies and missions around the world.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Additionally, the association in coordination with the Secretariat will organize all of its seminars in Nepal and will launch &#39;Splendid Holiday in Nepal with Family and Friend&#39; campaign.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">The agreement also includes car and bicycle rallies around the world, inviting foreign based Nepali employers, business partners and others to visit Nepal during VNY.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Calibri">Minister for Tourism Yogesh Bhattarai during the occasion informed that the agreement between VNY Secretariat and NRN is very crucial for making the tourism campaign successful. &nbsp;&nbsp;VNY 2020 is only two months away and execution of the agreement will help the tourism campaign to succeed, the minister added. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11313',
			'image' => '20191021034625_201906 2.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '11564',
			'article_category_id' => '1',
			'title' => 'Anti Money Laundering Training for Government Officials in India',
			'sub_title' => '',
			'summary' => 'October 22: The second group of 18 officers of the Government of Nepal have started their training on ‘Anti-Money Laundering and Countering Financing of Terrorism’ at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">October 22: The second group of 18 officers of the Government of Nepal have started their training on &lsquo;Anti-Money Laundering and Countering Financing of Terrorism&rsquo; at the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), in Bengaluru, South India on Monday, October 21. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">According to the Indian Embassy, this is a special tailor-made course designed at the request of the Government of Nepal for a total of 60 officers. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">A statement issued by the embassy says this cooperation is an example of Government of India&rsquo;s commitment to enhance the capacities of various agencies of the Government of Nepal. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The embassy further said that the training will enhance the capabilities of participating officers to effectively deal with the matters pertaining to Anti-Money Laundering and Countering Financing of Terrorism. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The first group of 20 Nepali officers had successfully completed their 6-days training on August 24, 2019. The third batch of 21 officers will undergo training in December 2019, the statement added.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">The NACIN is a premier training institute of the Government of India in the field of financial investigations and anti-money laundering matters with state-of-the-art learning facilities, according to the statement. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Liberation Serif&quot;,serif">It is an accredited Regional Training Centre of World Customs Organization for Asia/Pacific Region and also works in collaboration with other international organizations like UNEP, UNODC, SASEC, etc, added the statement.</span></span></p>
',
			'published' => true,
			'created' => '2019-10-22',
			'modified' => '2019-10-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11312',
			'image' => '20191022094406_DMLI.jpg',
			'article_date' => '2019-10-22 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '20'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '11561',
			'article_category_id' => '1',
			'title' => 'Central Bank Preparing for Fresh Bids to Sell its NEPSE Shares',
			'sub_title' => '',
			'summary' => 'October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 21: Nepal Rastra Bank (NRB) is preparing to call for fresh bids after it failed to auction its remaining shares of Nepal Stock Exchange. Out of the 34.6 percent shares, the central bank was able to auction only 20 percent shares earlier in July.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">According to Nepal Rastra Bank regulation, the central bank cannot invest in more than 10 percent shares in any organization. However, NRB owned 34.60 percent of the total capital of NEPSE, which is now down to 14.4 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Meanwhile, Nepal government owns 58.66 percent of the total share. Likewise, Rastra Banjiya Bank owns 6.12 percent and the remaining shares belong to other companies. &nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">Murari Parajuli, spokesperson of NEPSE, had said that the central bank decided to sell the shares in accordance to the government&rsquo;s plan of restructuring NEPSE under the Strategic Plan for Development of Financial Sector. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Calibri">NRB in a statement on July 16 had urged the eligible companies interested in purchasing its share of NEPSE to submit a sealed quotation to the finance management depart of NRB by August 18. But the central bank has not fixed the date for announcing new bids this time. However, NRB Spokesperson Laxmi Prapanna Niraula said that the invitation for bids will be announced within a month.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2019-10-21',
			'modified' => '2019-10-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11311',
			'image' => '20191021033946_20190719115911_NRB-_-image.jpg',
			'article_date' => '2019-10-21 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '20'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_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

file not found!

Latest

173 People Die in Disaster Incidents since June 10

Crusher Federation Urges PM Oli for Industry Renewal

Prime Minister Calls for Enhancing 'Hello Sarkar' Service

Bardiya National Park Sees Increase in Tourist Arrivals

Experts, Manpower Agencies at Odds Over Draft of Labour Migration Policy

Lower Seti Hydropower Project Acquires o500 Ropanis of Land

Government Proposes Formation of New Authority to Regulate Cooperatives

Sugar Prices Surge ahead of Festive Season amid Govt’s Failure to Import Sugar

BFIN to Host Conference in Kathmandu on Wednesday

Price of Gold Reaches All-Time High in Nepal

FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00