KATHMANDU, August 4: The price of gold, which surged to an all-time high in Nepal on Friday, experienced a decline of Rs 200 per tola (11.66 grams) on…
KATHMANDU, August 4: The price of gold, which surged to an all-time high in Nepal on Friday, experienced a decline of Rs 200 per tola (11.66 grams) on…
KATHMANDU, August 4: A total of 150 people have died due to monsoon-induced disasters including floods and landslides across the country so far in the ongoing rainy…
CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their…
The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. According to traffic office, revenue of 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were…
KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty…
Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this…
KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and…
KATHMANDU, August 1: The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy…
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KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight…
The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this…
Price of gold has reached an all-time high in the domestic market of Nepal on…
KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in…
KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in…
KATHMANDU, August 2: The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth.…
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According to the Central Police News Room, three people died in Kathmandu Valley, 25 in Koshi Province, six in Madhesh, 29 in Bagmati, 42 in Gandaki, 27 in Lumbini, eight in Karnali and 10 in Far West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, 49 people are missing and 177 people were injured in the disaster, while 180 people were rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, three hundred and eighty-four houses have been inundated due to floods. Four thousand two hundred and nineteen families have been displaced due to the incidents that have taken place since June 10 when the monsoon entered Nepal. The monsoon is expected to leave Nepal in early October. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21457', 'image' => '20240804120345_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-08-04 12:02:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21731', 'article_category_id' => '1', 'title' => 'Doctors Advise Nursing Mothers to Avoid Mobile Phone while Breastfeeding ', 'sub_title' => '', 'summary' => 'CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction organized in Bharatpur on Saturday to mark the World Breastfeeding Week, the doctors argued using mobile phones while breastfeeding would neither benefit the mother nor the babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pediatricians at Bharatpur Hospital Dr Sweta Kumari Gupta advised lactating mothers that they stopped using mobile phones during breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, the use of mobile phone while breastfeeding could divert the attention of the mothers from their babies to elsewhere. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Mothers could remain unaware whether the baby consumed milk or not, got enough milk or not if she uses mobile phone while breastfeeding," she said, arguing that affection towards babies could also decrease. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Emphasizing touch and emotional engagement with the child to boost early childhood development, the doctor emphasized mothers to snuggle and caress their babies while breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also to take into account during the suckling is the posture of both mother and baby. The newborn may not need anything except mother's milk till six months from the birth, she informed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that regularly breastfed babies are less likely to suffer pneumonia, diarrhoea and asthma, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the mother's milk should be fed to babies as much as possible for the physical development of the child, Dr Gupta said mother's milk could be collected and fed to baby if the new mothers have to go for work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, mother's milk collected and kept in room temperature could be used within 4 to 6 hours, but it can be used within 24 hours if kept in refrigerator. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She, however, advised not to directly heat such refrigerated milk. Such milk should be warmed by placing it in a container and kept it in a hot water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is suitable to give supplementary food to newborns after six months of their birth, she mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Prof Dr Sunil Mani Pokharel, gynecologist and Chief of Bharatpur Hospital's Department of Gynecology, claimed that regularly feeding mother's milk would benefit both mothers and babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Breastfeeding the newborns up to six months would also boost the health and physical development of the child. He said that feeding the mother's milk for 8 to 12 times a day would be beneficial for babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking about the benefits of breastfeeding to mothers, he shared that mothers who breastfeed regularly have less chance of developing breast and ovarian cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel mentioned that mother’s milk is the ideal food for the babies. "Babies should be breastfed for at least first two years. It helps foster love and affection between babies and mother." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that in recent period, many mothers are avoiding this essential part of motherhood for the sake of physical beauty, he mentioned such act would however create adverse impacts on the physical and mental growth of babies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel further shared that the number of people visiting Bharatpur Hospital for maternity services has decreased in recent years. The hospital recorded more than 9,000 maternity cases in the last fiscal year while there were more than 12,000 in previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maternity service through health clinics at villages by the local levels as well as brain drain of youths are the reasons behind decreasing number of people visiting the hospital for maternity service, he explained. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21456', 'image' => '20240804125828_Untitled.jpg', 'article_date' => '2024-08-04 12:57:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21728', 'article_category_id' => '1', 'title' => 'Chitwan Traffic Office Collects Over Rs 30 Million in Revenue', 'sub_title' => '', 'summary' => 'The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. According to traffic office, revenue of 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">August 4: The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. </span></span><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">According to traffic office, revenue of Rs 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year, the office had collected Rs 3,4538,500 in revenue, with 40,664 vehicles being fined, according to the office.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Traffic Office Chief Suresh Subedi stated that the implementation of the Traffic Violation Record System (TVRS) since the last fiscal year has led to a decrease in revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Under TVRS, first-time offenders are fined a minimum amount. Once the traffic police enter the driver's information into the system, the driver can pay the fine online.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The government has started implementing this system in all districts of the country to standardize the fine system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The office collected the highest amount of fines in the month of Poush, with Rs 2.89 million, and the lowest in the month of Kartik, with Rs 2.03 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> Rs 2.43 million was collected in Shrawan, Rs 2.37 million in Bhadra, Rs 2.87 million in Ashoj, Rs 2.67 million in Mangsir, and Rs 2.86 million in Magh.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Similarly, fines of Rs 2.64 million were collected in Falgun, Rs 2.50 million in Chaitra, Rs 2.52 million in Baisakh, Rs 2.70 million in Jestha, and Rs 2.22 million in Asar.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21454', 'image' => '20240804064213_collage (87).jpg', 'article_date' => '2024-08-04 06:40:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21727', 'article_category_id' => '1', 'title' => 'Faulty Budget Allocation Behind Implementation Challenges: Minister Paudel', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at a meeting of the parliamentary committee on finance on Friday, Minister Paudel highlighted that the budget was allocated without properly identifying sources, and it lacked foresight, as the outcomes were overlooked.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Paudel informed that the government will prioritize the completion of ongoing projects while implementing the budget for the current fiscal year 2024/25. Additionally, adequate resources will be allocated to mega and national pride projects. The government will also prioritize projects that promise quick results. "The incumbent government does not spend indiscriminately," he said, assuring fiscal discipline in public spending.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On a different note, the minister mentioned that the government would evaluate the necessity and relevance of seeking support from development partners and donor agencies. "We should only accept international support and mobilize it after analyzing our needs and priorities," he stated.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, the public debt, which has surpassed 40 percent of the country's GDP, should not be considered disorderly. He emphasized that public debt should be directed towards productive sectors and capital formation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, the finance minister pledged to maintain consistency between the government's fiscal and monetary policies to revitalize the country's economy and achieve sustainable growth. He added that his ministry would not interfere with the functions of Nepal Rastra Bank, an autonomous agency responsible for issuing monetary policy, but would instead work in coordination with it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that positive changes were observed in the capital market following the introduction of the new monetary policy and urged investors to make well-informed choices. He advised that investment in the capital market should be based on the financial situation of the respective companies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Assuring his ministry's role in ensuring the stock market matures, the minister stressed that the regulatory body should be highly vigilant to prevent activities like insider trading in the capital market. Regarding the establishment of a new stock exchange, he said that the government would make appropriate decisions after conducting necessary studies on the matter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also speaking at the meeting, former Finance Minister Dr. Prakash Sharan Mahat asserted that the government could not afford to spend indiscriminately to appease the public. "We must avoid populism. Discipline is essential in public expenditure management," he advised.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Dr. Mahat, there is no alternative but to increase capital expenditure to improve the national economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As for the monetary policy, he observed inconsistencies, noting that "sometimes Nepal Rastra Bank introduces expansionary provisions, while at other times, it's too strict."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The parliamentarians attending the committee meeting expressed that the bills sent to the committee should be forwarded to parliament as soon as possible after deliberation. They also called for effective implementation of the programs included in the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21453', 'image' => '20240803022235_budget.jpg', 'article_date' => '2024-08-03 14:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21726', 'article_category_id' => '1', 'title' => 'International Hot Air Balloon Festival in Pokhara ', 'sub_title' => '', 'summary' => 'Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Balloon Nepal Pvt. Ltd will be hosting the festival in and around the source of Phewa lake with the objective of further promoting Pokhara at the international level. The festival will be held from the December 29 to January 2 marking the New Year 2025, said Bikram Bade, chairperson of Balloon Pvt. Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">About 20 to 25 balloons will be brought from different countries around the world for the festival. It is estimated to cost Rs 6.5 million to orgasnise the festival. The festival is being held with the support and collaboration of Nepal Tourism Board, Ministry of Culture, Tourism and Civil Aviation, Gandaki Province Government, Pokhara Metropolitan City, Civil Aviation Authority of Nepal, Pokhara Tourism Council among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Tourism Council Chair Pomnarayan Shrestha said that the festival will be a historic event for Pokhara, the tourism capital of the country and for the entire Gandaki province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sabin Maharjan, the proprietor of Balloon Nepal, said that flying in a hot air balloon offers panoramic view of mountains like Machhapuchhre, Annapurna, full-sized Phewa Lake, Pumdikot Mahadev, paragliders flying from Sarangkot and the beautiful scenery around Pokhara Valley. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21452', 'image' => '20240803121618_20190101025441_aa.jpg', 'article_date' => '2024-08-03 12:15:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21725', 'article_category_id' => '1', 'title' => 'PM Oli Directs Stakeholders to Operate New International Airports Effectively', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting at the Office of the Prime Minister and the Council of Ministers on Friday, PM Oli inquired about the current flight congestion and passenger management at Tribhuvan International Airport. He pledged to soon operate both the new international airports at full capacity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The prime minister instructed ministers to create a conducive environment for regular international flights from the two airports. He stated that if the aviation regulatory body addresses the concerns of the international airlines interested in these airports, the government will include them in the schedule and proceed accordingly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">PM Oli emphasized the seriousness of the issue, highlighting the significant losses caused by the underutilization of the two international airports. He noted that Tribhuvan International Airport is forced to handle more flights and passengers than its capacity, a situation that could be alleviated by the smooth operation of the new international airports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He directed the concerned officials to submit plans for the effective operation of both airports, including improvements in immigration and other facilities, and the relocation of fuel depots if they are too close to the airport. PM Oli assured that the Cabinet could help resolve these issues if they are communicated in time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel; Foreign Minister Dr. Arzu Rana Deuba; Minister for Labour and Employment Sharat Singh Bhandari; Minister for Culture, Tourism, and Civil Aviation Badri Prasad Pandey; and other officials were present at the meeting. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21451', 'image' => '20240803115521_20230227020513_Pokhara-Airport-800X533.jpg', 'article_date' => '2024-08-03 11:54:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21724', 'article_category_id' => '1', 'title' => 'IPPAN Urges PM Oli to Address Private Sector Concerns in Electricity Bill', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 1: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A delegation led by IPPAN President Ganesh Karki met the Prime Minister at his official residence in Baluwatar on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The IPPAN urged the Prime Minister to amend the Electricity Bill, 2080, currently under parliamentary review, to include provisions for private sector participation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The delegation expressed concerns that the bill's current provisions could exclude private entities and lead to the cancellation of approximately 30,000 megawatts of planned projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Additionally, IPPAN requested the immediate opening of power purchase agreements for 13,000 MW-capacity projects that are in the pipeline. RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21450', 'image' => '20240802082221_Pradhanmantrikosachiwalaya-18WhatsAppImage2024-08-02at2.10.JPG', 'article_date' => '2024-08-02 20:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21723', 'article_category_id' => '1', 'title' => 'NRB Eases Foreign Exchange Provisions for Nepali Travellers and Traders', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Nepal Rastra Bank (NRB) has eased the foreign exchange rules for Nepali travellers and traders by amending its Unified Directive-2080.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the amendment, the central bank has provided Nepalis visiting foreign countries, except India, an exchange facility of up to $2,500 per trip, on the basis of their passport. Though the Nepali citizens were allowed to withdraw $2,500 per trip earlier, the facility could only be used twice a year at most.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the NRB has also increased the limitation for the use of money for the Nepalis having accounts and earning in foreign currency when they travel abroad to $25,000 from $15,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The move follows the central bank’s decision in its monetary policy that the foreign exchange facility on the basis of passport would be eased in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revision also comes at a time when the country's foreign exchange reserves is sufficient to cover the prospective merchandise imports for 15 months, and merchandise and services imports for 12 and a half months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal’s gross foreign exchange reserves surged by 27.8% to Rs 1,967.19 billion in mid-June this year from Rs 1,539.36 billion in mid-July 2023, central bank’s data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the reduction in import, growing remittance inflow and decline in credit expansion, Nepal’s foreign exchange reserves has continued to surge recently.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the remittance inflow increased by 19.3% to Rs 1327.51 billion in the first 11 months, until mid-June, of the last fiscal year compared to an increase of 22.7% in the same period of the previous year, Nepal’s imports decreased by 1.8% in the review period, according to the NRB.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has also doubled the foreign exchange facility being provided to Nepalis with visas for visiting Tibet in China and SAARC countries (except India) through land routes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The exchange facility has been increased up to $1,000 once and $2,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The provision, however, is only for the travellers. So, Nepali residents on the Nepal-Tibet border who make frequent trips to Tibet would not be able to use it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the members of the recruitment agencies sending up to 100 workers overseas in a year will now be eligible to get a foreign exchange facility up to $25,000 in a year, those from agencies sending more than 100 workers will be provided an exchange facility up to $30,000 in a year during their foreign visits. Earlier, the limits of the exchange facilities were $15,000 and $20,000 respectively. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has a provision of providing bullion traders a foreign exchange facility up to $300,000 on every import of silver for producing jewellery, artistic goods and utensils among others. Similarly, foreign exchange limit for other silver importers has been set at $100,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised provision has increased the limit of foreign exchange while importing goods to $100,000 from $60,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has also brought into implementation the announcements it had made in the new monetary policy about increasing exchange limits for Draft/Telex Transfer (TT) facilities and ‘Document Against Payment’ and ‘Document Against Acceptance’ for importing goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the foreign exchange limit for Draft/ Telex Transfer (TT) facilities in the import of goods has been raised from $35,000 to $50,000, the limit for ‘Document Against Payment’ and ‘Document Against Acceptance’ has been increased from existing $60,000 to $100,000.</span></span></span></span></p> <p><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21449', 'image' => '20240802061509_20240801033027_NRB new.jpg', 'article_date' => '2024-08-02 18:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21722', 'article_category_id' => '1', 'title' => 'NAC’s Debt Obligation Remains High Despite Payment', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations. On June 18, 2013, NAC secured a Rs 9.98 billion loan from the EPF, backed by a government guarantee of Rs 10 billion, with a commitment to pay installments every three months over 15 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In addition, on June 11, 2017, NAC signed another agreement with the EPF for a Rs 11.99 billion loan, with a guaranteed of Rs 12 billion from the government, to acquire a wide-body aircraft of Airbus. In total, EPF provided NAC with Rs 21.97 billion for aircraft purchases. According to EPF spokesperson Damodar Prasad Subedi, NAC paid Rs 1.62 billion in the last fiscal year (FY 2080/81). However, despite the payments, NAC’s debt obligations are increasing, with Rs 28.87 billion still owed to EPF. The repayment deadline for the wide-body aircraft loan is eight years away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NAC also secured a Rs 12 billion loan from the Citizen Investment Trust (CIT) to purchase a wide-body aircraft, with a similar 15-year repayment term. However, NAC’s debt to both EPF and CIT has grown instead of decreasing, prompting the corporation to lobby for an extension of the repayment period and interest waivers for the time impacted by the coronavirus pandemic. NAC officials say the state-owned airliner has formally requested both EPF and CIT to increase the number of installments and facilitate easier repayment terms, but no agreement has been reached.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NAC is seeking new lenders to manage existing debts, purchase additional aircraft, and build a hangar, with an estimated requirement of Rs 135 billion. Of this, Rs 55 billion is intended for managing aircraft-related debt. NAC argues that the current interest rates—10 percent from EPF and 9 percent from CIT—are high and is looking for loans at subsidized rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">EPF confirmed that NAC has requested an extension of the repayment period and an interest waiver. However, no official decisions have been made, and it remains unclear when or how much exemption was requested. CIT Information Officer Uddhav Silwal on the other hand mentioned that they have not received any formal request from NAC regarding an installment extension.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the pandemic, NAC proposed an interest exemption to CIT, but the board of directors did not take any decision on this matter. As of the last fiscal year, NAC’s outstanding principal and interest to CIT amounted to Rs 19.50 billion. Despite an agreement to pay Rs 400 million in quarterly installments, NAC could not meet this obligation, and the installment amount has now risen to Rs 720 million. NAC paid Rs 400 million in the last fiscal year, but the total arrears to CIT has reached Rs 19.39 billion as of mid-June.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Subedi of EPF emphasized that the maximum repayment period for the loans cannot exceed 15 years, in accordance with current rules. The 61st annual report of the Auditor General noted that NAC has not fully paid the interest, leading to an increase in the principal amount due to a decision by the board of directors to capitalize the interest owed to EPF.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21448', 'image' => '20240802034737_1693297866.Nepal Airlines.jpg', 'article_date' => '2024-08-02 15:46:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21721', 'article_category_id' => '1', 'title' => 'Business of Non-life Insurance Companies Slightly Improves in Last Fiscal Year', 'sub_title' => 'The companies collected 3.11% more in insurance premiums in 2023/24 than in 2022/23.', 'summary' => 'The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the latest data from the Nepal Insurance Authority, non-life insurance companies collected Rs 41.46 billion in insurance premiums from the sale of around 2.97 million insurance policies in the last fiscal year, which ended on July 15.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The premiums collected was 3.11% more than that in the previous fiscal year 2022-23, when the companies had collected Rs 40.21 billion from the sale of around 2.79 million units of insurance policies. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The decline in credit expansion from banks and financial institutions has affected the businesses of insurance companies, said Chunky Chhetri, president of the Nepal Insurers’ Association.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It is natural for the business of insurance companies to be affected amid the slowdown in the economy as its growth is linked to the economy,” said Chhetri, adding that the NRB’ move to ease the overall economy including the insurance sector in the coming days through the monetary policy will have a positive impact in this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has brought a flexible monetary policy for the current fiscal year, giving concessions to contractors in loan repayment and blacklisting provisions. Similarly, the NRB has also extended the deadline to implement current capital loan guidelines by one year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Three of the 14 non-life insurance companies in operation saw their businesses decline in the last fiscal year, according to the Nepal Insurance Authority. Among them, the Rastriya Beema Company, whose insurance premium collection decreased by 31%, reported the biggest decline.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Among other 11 companies who saw their businesses grow, the Oriental Insurance Company Limited remained at the top with a 44% growth.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Shikhar Insurance topped the list for doing the most business in the review period. Shikhar ranked first in insurance premium collection, which surged by 2.89% to Rs 5.47 billion in the last fiscal year compared to the previous year – FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the four non-life microinsurance companies in operation collected Rs 294.8 million in insurance premium by issuing 127,000 insurance policies in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Though the insurance authority had allowed four micro-insurances to operate in the previous fiscal year, only two came into operation in that period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">There was a growth in the businesses on microinsurance as all four companies started their business by the end of the last fiscal year, according to the authority.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21447', 'image' => '20240802012739_insurance non life.jpg', 'article_date' => '2024-08-02 13:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21720', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All Time High in Nepali Market ', 'sub_title' => 'The hallmark gold is being traded at Rs 149,900 per tola on Friday', 'summary' => 'Price of gold has reached an all-time high in the domestic market of Nepal on Friday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 2: Price of gold has reached an all-time high in the domestic market of Nepal on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold, which was traded at Rs 149,400 per tola (11.66 grams) on Thursday, is being traded at Rs 149,900 per tola on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on July 17, its price had reached Rs 149,800 per tola, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of gold has been rising steadily of late. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing geopolitical tension due to the Israel’s offensive in Gaza as well as Lebanon and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21446', 'image' => '20240802125640_20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-02 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21719', 'article_category_id' => '1', 'title' => 'CAAN Gives Approval for Thai AirAsia to Operate Flights to Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa. The airline had requested permission to operate flights for seven days a week, and the regulatory body of Nepal has approved four flights from Gautam Buddha International Airport and three flights from Tribhuvan International Airport.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Thailand-based AirAsia Group had applied to the CAAN to operate daily flights from Tribhuvan International Airport. However, due to planned expansion work that will close the airport for 10 hours daily starting on November 1, 2024, the authority has asked the airline to operate four flights from Gautam Buddha International Airport instead.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gyanendra Bhul, information officer of CAAN, stated that the company has applied for one daily flight from Bangkok to Kathmandu, beginning from September 24, 2024. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"With the airport getting closed for 10 hours daily and operating only for 14 hours starting from November 1, 2024, the airport's capacity will decrease," said Bhul. "Therefore, out of the daily flights requested by the company, four flights have been approved for Bhairahawa."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gautam Buddha International Airport, inaugurated in May 16, 2022, currently has no regular international flights. Thai AirAsia has now been permitted to operate four flights a week from this airport. Earlier, Al Jazeera Airways began regular flights to this airport but later discontinued them. The lack of regular flights at Gautam Buddha and Pokhara international airports, both of which were built with foreign loans, continues to add to the financial burden on the government.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21445', 'image' => '20240802105556_1652654595.Clipboard07.jpg', 'article_date' => '2024-08-02 10:55:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21718', 'article_category_id' => '1', 'title' => 'Global IME Bank and Gulf Exchange Company Sign Agreement to Ease Money Transfer from Qatar to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The agreement aims to provide an efficient and convenient channel for transferring money from Qatar to Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under the agreement, Nepalese migrants can send remittances through any of the 17 branches of Gulf Exchange Company W.L.L. in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Additionally, the remittances can also be sent using the Gulf Exchange Company W.L.L.'s Remittance App, making the process more accessible and user-friendly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The remitted funds can be collected from all branches of Global IME Bank across Nepal. Furthermore, the partnership extends the reach of remittance services through the 50,000-plus agent network of IME Limited and GME Remit throughout the country. This wide network ensures that recipients, even in remote areas, can easily access the remitted funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepalese residing in Qatar also have the option to send remittances directly to their own or their family members' bank accounts in Nepal, offering greater convenience and security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Global IME Bank is the first private sector bank in Nepal to establish a branch network in all 77 districts of the country. The bank operates over 1,100 service centers, including 354 branch offices, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and three foreign representative offices.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In addition to providing comprehensive banking services to Nepali citizens, Global IME Bank offers extensive remittance services from various countries worldwide. The bank facilitates remittances from the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, UAE, Bahrain, Kuwait, India, Jordan, and other countries, ensuring that the Nepalese diaspora can easily support their families back home.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This new agreement with Gulf Exchange Company W.L.L. marks a significant step in enhancing the remittance services for Nepalese migrants in Qatar, providing them with reliable, efficient, and accessible options for sending money to Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21444', 'image' => '20240802104207_IMG-20240801-WA0003.jpg', 'article_date' => '2024-08-02 10:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21716', 'article_category_id' => '1', 'title' => 'SEBON Committed to Protecting Investors' Interests', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong>KATHMANDU, August 2:</strong> The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. He reiterated SEBON's commitment to protecting the interests of investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the 12th anniversary of NIMB Ace Capital Limited on Thursday, Adhikari highlighted SEBON's efforts to address the concerns of financial management companies, as well as its role in regulating and managing securities and related activities.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari also acknowledged the recent monetary policy introduced by the central bank, which aims to invigorate the stock market. He expressed appreciation for the removal of the Rs 200 million cap on institutional share traders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Chief Secretary Bimal Koirala, who also spoke at the event, stressed the need for a secure and reliable stock trading system. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21443', 'image' => '20240802092018_Sebon-update.jpg', 'article_date' => '2024-08-02 09:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21733', 'article_category_id' => '1', 'title' => 'Gold and Silver Prices Fall After Record High in Nepal', 'sub_title' => 'The precious yellow metal became cheaper by Rs 200 per tola on Sunday', 'summary' => 'KATHMANDU, August 4: The price of gold, which surged to an all-time high in Nepal on Friday, experienced a decline of Rs 200 per tola (11.66 grams) on Sunday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 4: The price of gold, which surged to an all-time high in Nepal on Friday, experienced a decline of Rs 200 per tola (11.66 grams) on Sunday.<br /> According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold, previously priced at Rs 149,900 per tola, is now being traded at Rs 149,700 per tola.<br /> In addition, the price of worked gold has decreased from Rs 146,700 per tola on Friday to Rs 137,725 per tola.<br /> The price of silver have also fallen, with silver now being traded at Rs 1,785 per tola, a reduction of Rs 10 from the Rs 1,795 per tola price on Friday.</span></span></p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21458', 'image' => '20240804015120_20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-04 13:50:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21730', 'article_category_id' => '1', 'title' => '150 People Killed by Monsoon-Induced Disasters ', 'sub_title' => '', 'summary' => 'KATHMANDU, August 4: A total of 150 people have died due to monsoon-induced disasters including floods and landslides across the country so far in the ongoing rainy season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 4: A total of 150 people have died due to monsoon-induced disasters including floods and landslides across the country so far in the ongoing rainy season. According to the Central Police News Room, three people died in Kathmandu Valley, 25 in Koshi Province, six in Madhesh, 29 in Bagmati, 42 in Gandaki, 27 in Lumbini, eight in Karnali and 10 in Far West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, 49 people are missing and 177 people were injured in the disaster, while 180 people were rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, three hundred and eighty-four houses have been inundated due to floods. Four thousand two hundred and nineteen families have been displaced due to the incidents that have taken place since June 10 when the monsoon entered Nepal. The monsoon is expected to leave Nepal in early October. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21457', 'image' => '20240804120345_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-08-04 12:02:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21731', 'article_category_id' => '1', 'title' => 'Doctors Advise Nursing Mothers to Avoid Mobile Phone while Breastfeeding ', 'sub_title' => '', 'summary' => 'CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction organized in Bharatpur on Saturday to mark the World Breastfeeding Week, the doctors argued using mobile phones while breastfeeding would neither benefit the mother nor the babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pediatricians at Bharatpur Hospital Dr Sweta Kumari Gupta advised lactating mothers that they stopped using mobile phones during breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, the use of mobile phone while breastfeeding could divert the attention of the mothers from their babies to elsewhere. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Mothers could remain unaware whether the baby consumed milk or not, got enough milk or not if she uses mobile phone while breastfeeding," she said, arguing that affection towards babies could also decrease. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Emphasizing touch and emotional engagement with the child to boost early childhood development, the doctor emphasized mothers to snuggle and caress their babies while breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also to take into account during the suckling is the posture of both mother and baby. The newborn may not need anything except mother's milk till six months from the birth, she informed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that regularly breastfed babies are less likely to suffer pneumonia, diarrhoea and asthma, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the mother's milk should be fed to babies as much as possible for the physical development of the child, Dr Gupta said mother's milk could be collected and fed to baby if the new mothers have to go for work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, mother's milk collected and kept in room temperature could be used within 4 to 6 hours, but it can be used within 24 hours if kept in refrigerator. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She, however, advised not to directly heat such refrigerated milk. Such milk should be warmed by placing it in a container and kept it in a hot water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is suitable to give supplementary food to newborns after six months of their birth, she mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Prof Dr Sunil Mani Pokharel, gynecologist and Chief of Bharatpur Hospital's Department of Gynecology, claimed that regularly feeding mother's milk would benefit both mothers and babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Breastfeeding the newborns up to six months would also boost the health and physical development of the child. He said that feeding the mother's milk for 8 to 12 times a day would be beneficial for babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking about the benefits of breastfeeding to mothers, he shared that mothers who breastfeed regularly have less chance of developing breast and ovarian cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel mentioned that mother’s milk is the ideal food for the babies. "Babies should be breastfed for at least first two years. It helps foster love and affection between babies and mother." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that in recent period, many mothers are avoiding this essential part of motherhood for the sake of physical beauty, he mentioned such act would however create adverse impacts on the physical and mental growth of babies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel further shared that the number of people visiting Bharatpur Hospital for maternity services has decreased in recent years. The hospital recorded more than 9,000 maternity cases in the last fiscal year while there were more than 12,000 in previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maternity service through health clinics at villages by the local levels as well as brain drain of youths are the reasons behind decreasing number of people visiting the hospital for maternity service, he explained. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21456', 'image' => '20240804125828_Untitled.jpg', 'article_date' => '2024-08-04 12:57:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21728', 'article_category_id' => '1', 'title' => 'Chitwan Traffic Office Collects Over Rs 30 Million in Revenue', 'sub_title' => '', 'summary' => 'The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. According to traffic office, revenue of 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">August 4: The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. </span></span><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">According to traffic office, revenue of Rs 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year, the office had collected Rs 3,4538,500 in revenue, with 40,664 vehicles being fined, according to the office.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Traffic Office Chief Suresh Subedi stated that the implementation of the Traffic Violation Record System (TVRS) since the last fiscal year has led to a decrease in revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Under TVRS, first-time offenders are fined a minimum amount. Once the traffic police enter the driver's information into the system, the driver can pay the fine online.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The government has started implementing this system in all districts of the country to standardize the fine system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The office collected the highest amount of fines in the month of Poush, with Rs 2.89 million, and the lowest in the month of Kartik, with Rs 2.03 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> Rs 2.43 million was collected in Shrawan, Rs 2.37 million in Bhadra, Rs 2.87 million in Ashoj, Rs 2.67 million in Mangsir, and Rs 2.86 million in Magh.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Similarly, fines of Rs 2.64 million were collected in Falgun, Rs 2.50 million in Chaitra, Rs 2.52 million in Baisakh, Rs 2.70 million in Jestha, and Rs 2.22 million in Asar.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21454', 'image' => '20240804064213_collage (87).jpg', 'article_date' => '2024-08-04 06:40:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21727', 'article_category_id' => '1', 'title' => 'Faulty Budget Allocation Behind Implementation Challenges: Minister Paudel', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at a meeting of the parliamentary committee on finance on Friday, Minister Paudel highlighted that the budget was allocated without properly identifying sources, and it lacked foresight, as the outcomes were overlooked.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Paudel informed that the government will prioritize the completion of ongoing projects while implementing the budget for the current fiscal year 2024/25. Additionally, adequate resources will be allocated to mega and national pride projects. The government will also prioritize projects that promise quick results. "The incumbent government does not spend indiscriminately," he said, assuring fiscal discipline in public spending.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On a different note, the minister mentioned that the government would evaluate the necessity and relevance of seeking support from development partners and donor agencies. "We should only accept international support and mobilize it after analyzing our needs and priorities," he stated.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, the public debt, which has surpassed 40 percent of the country's GDP, should not be considered disorderly. He emphasized that public debt should be directed towards productive sectors and capital formation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, the finance minister pledged to maintain consistency between the government's fiscal and monetary policies to revitalize the country's economy and achieve sustainable growth. He added that his ministry would not interfere with the functions of Nepal Rastra Bank, an autonomous agency responsible for issuing monetary policy, but would instead work in coordination with it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that positive changes were observed in the capital market following the introduction of the new monetary policy and urged investors to make well-informed choices. He advised that investment in the capital market should be based on the financial situation of the respective companies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Assuring his ministry's role in ensuring the stock market matures, the minister stressed that the regulatory body should be highly vigilant to prevent activities like insider trading in the capital market. Regarding the establishment of a new stock exchange, he said that the government would make appropriate decisions after conducting necessary studies on the matter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also speaking at the meeting, former Finance Minister Dr. Prakash Sharan Mahat asserted that the government could not afford to spend indiscriminately to appease the public. "We must avoid populism. Discipline is essential in public expenditure management," he advised.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Dr. Mahat, there is no alternative but to increase capital expenditure to improve the national economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As for the monetary policy, he observed inconsistencies, noting that "sometimes Nepal Rastra Bank introduces expansionary provisions, while at other times, it's too strict."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The parliamentarians attending the committee meeting expressed that the bills sent to the committee should be forwarded to parliament as soon as possible after deliberation. They also called for effective implementation of the programs included in the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21453', 'image' => '20240803022235_budget.jpg', 'article_date' => '2024-08-03 14:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21726', 'article_category_id' => '1', 'title' => 'International Hot Air Balloon Festival in Pokhara ', 'sub_title' => '', 'summary' => 'Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Balloon Nepal Pvt. Ltd will be hosting the festival in and around the source of Phewa lake with the objective of further promoting Pokhara at the international level. The festival will be held from the December 29 to January 2 marking the New Year 2025, said Bikram Bade, chairperson of Balloon Pvt. Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">About 20 to 25 balloons will be brought from different countries around the world for the festival. It is estimated to cost Rs 6.5 million to orgasnise the festival. The festival is being held with the support and collaboration of Nepal Tourism Board, Ministry of Culture, Tourism and Civil Aviation, Gandaki Province Government, Pokhara Metropolitan City, Civil Aviation Authority of Nepal, Pokhara Tourism Council among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Tourism Council Chair Pomnarayan Shrestha said that the festival will be a historic event for Pokhara, the tourism capital of the country and for the entire Gandaki province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sabin Maharjan, the proprietor of Balloon Nepal, said that flying in a hot air balloon offers panoramic view of mountains like Machhapuchhre, Annapurna, full-sized Phewa Lake, Pumdikot Mahadev, paragliders flying from Sarangkot and the beautiful scenery around Pokhara Valley. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21452', 'image' => '20240803121618_20190101025441_aa.jpg', 'article_date' => '2024-08-03 12:15:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21725', 'article_category_id' => '1', 'title' => 'PM Oli Directs Stakeholders to Operate New International Airports Effectively', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting at the Office of the Prime Minister and the Council of Ministers on Friday, PM Oli inquired about the current flight congestion and passenger management at Tribhuvan International Airport. He pledged to soon operate both the new international airports at full capacity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The prime minister instructed ministers to create a conducive environment for regular international flights from the two airports. He stated that if the aviation regulatory body addresses the concerns of the international airlines interested in these airports, the government will include them in the schedule and proceed accordingly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">PM Oli emphasized the seriousness of the issue, highlighting the significant losses caused by the underutilization of the two international airports. He noted that Tribhuvan International Airport is forced to handle more flights and passengers than its capacity, a situation that could be alleviated by the smooth operation of the new international airports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He directed the concerned officials to submit plans for the effective operation of both airports, including improvements in immigration and other facilities, and the relocation of fuel depots if they are too close to the airport. PM Oli assured that the Cabinet could help resolve these issues if they are communicated in time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel; Foreign Minister Dr. Arzu Rana Deuba; Minister for Labour and Employment Sharat Singh Bhandari; Minister for Culture, Tourism, and Civil Aviation Badri Prasad Pandey; and other officials were present at the meeting. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21451', 'image' => '20240803115521_20230227020513_Pokhara-Airport-800X533.jpg', 'article_date' => '2024-08-03 11:54:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21724', 'article_category_id' => '1', 'title' => 'IPPAN Urges PM Oli to Address Private Sector Concerns in Electricity Bill', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 1: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A delegation led by IPPAN President Ganesh Karki met the Prime Minister at his official residence in Baluwatar on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The IPPAN urged the Prime Minister to amend the Electricity Bill, 2080, currently under parliamentary review, to include provisions for private sector participation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The delegation expressed concerns that the bill's current provisions could exclude private entities and lead to the cancellation of approximately 30,000 megawatts of planned projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Additionally, IPPAN requested the immediate opening of power purchase agreements for 13,000 MW-capacity projects that are in the pipeline. RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21450', 'image' => '20240802082221_Pradhanmantrikosachiwalaya-18WhatsAppImage2024-08-02at2.10.JPG', 'article_date' => '2024-08-02 20:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21723', 'article_category_id' => '1', 'title' => 'NRB Eases Foreign Exchange Provisions for Nepali Travellers and Traders', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Nepal Rastra Bank (NRB) has eased the foreign exchange rules for Nepali travellers and traders by amending its Unified Directive-2080.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the amendment, the central bank has provided Nepalis visiting foreign countries, except India, an exchange facility of up to $2,500 per trip, on the basis of their passport. Though the Nepali citizens were allowed to withdraw $2,500 per trip earlier, the facility could only be used twice a year at most.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the NRB has also increased the limitation for the use of money for the Nepalis having accounts and earning in foreign currency when they travel abroad to $25,000 from $15,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The move follows the central bank’s decision in its monetary policy that the foreign exchange facility on the basis of passport would be eased in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revision also comes at a time when the country's foreign exchange reserves is sufficient to cover the prospective merchandise imports for 15 months, and merchandise and services imports for 12 and a half months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal’s gross foreign exchange reserves surged by 27.8% to Rs 1,967.19 billion in mid-June this year from Rs 1,539.36 billion in mid-July 2023, central bank’s data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the reduction in import, growing remittance inflow and decline in credit expansion, Nepal’s foreign exchange reserves has continued to surge recently.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the remittance inflow increased by 19.3% to Rs 1327.51 billion in the first 11 months, until mid-June, of the last fiscal year compared to an increase of 22.7% in the same period of the previous year, Nepal’s imports decreased by 1.8% in the review period, according to the NRB.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has also doubled the foreign exchange facility being provided to Nepalis with visas for visiting Tibet in China and SAARC countries (except India) through land routes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The exchange facility has been increased up to $1,000 once and $2,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The provision, however, is only for the travellers. So, Nepali residents on the Nepal-Tibet border who make frequent trips to Tibet would not be able to use it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the members of the recruitment agencies sending up to 100 workers overseas in a year will now be eligible to get a foreign exchange facility up to $25,000 in a year, those from agencies sending more than 100 workers will be provided an exchange facility up to $30,000 in a year during their foreign visits. Earlier, the limits of the exchange facilities were $15,000 and $20,000 respectively. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has a provision of providing bullion traders a foreign exchange facility up to $300,000 on every import of silver for producing jewellery, artistic goods and utensils among others. Similarly, foreign exchange limit for other silver importers has been set at $100,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised provision has increased the limit of foreign exchange while importing goods to $100,000 from $60,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has also brought into implementation the announcements it had made in the new monetary policy about increasing exchange limits for Draft/Telex Transfer (TT) facilities and ‘Document Against Payment’ and ‘Document Against Acceptance’ for importing goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the foreign exchange limit for Draft/ Telex Transfer (TT) facilities in the import of goods has been raised from $35,000 to $50,000, the limit for ‘Document Against Payment’ and ‘Document Against Acceptance’ has been increased from existing $60,000 to $100,000.</span></span></span></span></p> <p><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21449', 'image' => '20240802061509_20240801033027_NRB new.jpg', 'article_date' => '2024-08-02 18:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21722', 'article_category_id' => '1', 'title' => 'NAC’s Debt Obligation Remains High Despite Payment', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations. On June 18, 2013, NAC secured a Rs 9.98 billion loan from the EPF, backed by a government guarantee of Rs 10 billion, with a commitment to pay installments every three months over 15 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In addition, on June 11, 2017, NAC signed another agreement with the EPF for a Rs 11.99 billion loan, with a guaranteed of Rs 12 billion from the government, to acquire a wide-body aircraft of Airbus. In total, EPF provided NAC with Rs 21.97 billion for aircraft purchases. According to EPF spokesperson Damodar Prasad Subedi, NAC paid Rs 1.62 billion in the last fiscal year (FY 2080/81). However, despite the payments, NAC’s debt obligations are increasing, with Rs 28.87 billion still owed to EPF. The repayment deadline for the wide-body aircraft loan is eight years away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NAC also secured a Rs 12 billion loan from the Citizen Investment Trust (CIT) to purchase a wide-body aircraft, with a similar 15-year repayment term. However, NAC’s debt to both EPF and CIT has grown instead of decreasing, prompting the corporation to lobby for an extension of the repayment period and interest waivers for the time impacted by the coronavirus pandemic. NAC officials say the state-owned airliner has formally requested both EPF and CIT to increase the number of installments and facilitate easier repayment terms, but no agreement has been reached.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NAC is seeking new lenders to manage existing debts, purchase additional aircraft, and build a hangar, with an estimated requirement of Rs 135 billion. Of this, Rs 55 billion is intended for managing aircraft-related debt. NAC argues that the current interest rates—10 percent from EPF and 9 percent from CIT—are high and is looking for loans at subsidized rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">EPF confirmed that NAC has requested an extension of the repayment period and an interest waiver. However, no official decisions have been made, and it remains unclear when or how much exemption was requested. CIT Information Officer Uddhav Silwal on the other hand mentioned that they have not received any formal request from NAC regarding an installment extension.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the pandemic, NAC proposed an interest exemption to CIT, but the board of directors did not take any decision on this matter. As of the last fiscal year, NAC’s outstanding principal and interest to CIT amounted to Rs 19.50 billion. Despite an agreement to pay Rs 400 million in quarterly installments, NAC could not meet this obligation, and the installment amount has now risen to Rs 720 million. NAC paid Rs 400 million in the last fiscal year, but the total arrears to CIT has reached Rs 19.39 billion as of mid-June.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Subedi of EPF emphasized that the maximum repayment period for the loans cannot exceed 15 years, in accordance with current rules. The 61st annual report of the Auditor General noted that NAC has not fully paid the interest, leading to an increase in the principal amount due to a decision by the board of directors to capitalize the interest owed to EPF.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21448', 'image' => '20240802034737_1693297866.Nepal Airlines.jpg', 'article_date' => '2024-08-02 15:46:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21721', 'article_category_id' => '1', 'title' => 'Business of Non-life Insurance Companies Slightly Improves in Last Fiscal Year', 'sub_title' => 'The companies collected 3.11% more in insurance premiums in 2023/24 than in 2022/23.', 'summary' => 'The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the latest data from the Nepal Insurance Authority, non-life insurance companies collected Rs 41.46 billion in insurance premiums from the sale of around 2.97 million insurance policies in the last fiscal year, which ended on July 15.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The premiums collected was 3.11% more than that in the previous fiscal year 2022-23, when the companies had collected Rs 40.21 billion from the sale of around 2.79 million units of insurance policies. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The decline in credit expansion from banks and financial institutions has affected the businesses of insurance companies, said Chunky Chhetri, president of the Nepal Insurers’ Association.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It is natural for the business of insurance companies to be affected amid the slowdown in the economy as its growth is linked to the economy,” said Chhetri, adding that the NRB’ move to ease the overall economy including the insurance sector in the coming days through the monetary policy will have a positive impact in this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has brought a flexible monetary policy for the current fiscal year, giving concessions to contractors in loan repayment and blacklisting provisions. Similarly, the NRB has also extended the deadline to implement current capital loan guidelines by one year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Three of the 14 non-life insurance companies in operation saw their businesses decline in the last fiscal year, according to the Nepal Insurance Authority. Among them, the Rastriya Beema Company, whose insurance premium collection decreased by 31%, reported the biggest decline.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Among other 11 companies who saw their businesses grow, the Oriental Insurance Company Limited remained at the top with a 44% growth.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Shikhar Insurance topped the list for doing the most business in the review period. Shikhar ranked first in insurance premium collection, which surged by 2.89% to Rs 5.47 billion in the last fiscal year compared to the previous year – FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the four non-life microinsurance companies in operation collected Rs 294.8 million in insurance premium by issuing 127,000 insurance policies in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Though the insurance authority had allowed four micro-insurances to operate in the previous fiscal year, only two came into operation in that period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">There was a growth in the businesses on microinsurance as all four companies started their business by the end of the last fiscal year, according to the authority.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21447', 'image' => '20240802012739_insurance non life.jpg', 'article_date' => '2024-08-02 13:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21720', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All Time High in Nepali Market ', 'sub_title' => 'The hallmark gold is being traded at Rs 149,900 per tola on Friday', 'summary' => 'Price of gold has reached an all-time high in the domestic market of Nepal on Friday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 2: Price of gold has reached an all-time high in the domestic market of Nepal on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold, which was traded at Rs 149,400 per tola (11.66 grams) on Thursday, is being traded at Rs 149,900 per tola on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on July 17, its price had reached Rs 149,800 per tola, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of gold has been rising steadily of late. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing geopolitical tension due to the Israel’s offensive in Gaza as well as Lebanon and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21446', 'image' => '20240802125640_20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-02 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21719', 'article_category_id' => '1', 'title' => 'CAAN Gives Approval for Thai AirAsia to Operate Flights to Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa. The airline had requested permission to operate flights for seven days a week, and the regulatory body of Nepal has approved four flights from Gautam Buddha International Airport and three flights from Tribhuvan International Airport.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Thailand-based AirAsia Group had applied to the CAAN to operate daily flights from Tribhuvan International Airport. However, due to planned expansion work that will close the airport for 10 hours daily starting on November 1, 2024, the authority has asked the airline to operate four flights from Gautam Buddha International Airport instead.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gyanendra Bhul, information officer of CAAN, stated that the company has applied for one daily flight from Bangkok to Kathmandu, beginning from September 24, 2024. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"With the airport getting closed for 10 hours daily and operating only for 14 hours starting from November 1, 2024, the airport's capacity will decrease," said Bhul. "Therefore, out of the daily flights requested by the company, four flights have been approved for Bhairahawa."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gautam Buddha International Airport, inaugurated in May 16, 2022, currently has no regular international flights. Thai AirAsia has now been permitted to operate four flights a week from this airport. Earlier, Al Jazeera Airways began regular flights to this airport but later discontinued them. The lack of regular flights at Gautam Buddha and Pokhara international airports, both of which were built with foreign loans, continues to add to the financial burden on the government.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21445', 'image' => '20240802105556_1652654595.Clipboard07.jpg', 'article_date' => '2024-08-02 10:55:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21718', 'article_category_id' => '1', 'title' => 'Global IME Bank and Gulf Exchange Company Sign Agreement to Ease Money Transfer from Qatar to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The agreement aims to provide an efficient and convenient channel for transferring money from Qatar to Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under the agreement, Nepalese migrants can send remittances through any of the 17 branches of Gulf Exchange Company W.L.L. in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Additionally, the remittances can also be sent using the Gulf Exchange Company W.L.L.'s Remittance App, making the process more accessible and user-friendly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The remitted funds can be collected from all branches of Global IME Bank across Nepal. Furthermore, the partnership extends the reach of remittance services through the 50,000-plus agent network of IME Limited and GME Remit throughout the country. This wide network ensures that recipients, even in remote areas, can easily access the remitted funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepalese residing in Qatar also have the option to send remittances directly to their own or their family members' bank accounts in Nepal, offering greater convenience and security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Global IME Bank is the first private sector bank in Nepal to establish a branch network in all 77 districts of the country. The bank operates over 1,100 service centers, including 354 branch offices, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and three foreign representative offices.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In addition to providing comprehensive banking services to Nepali citizens, Global IME Bank offers extensive remittance services from various countries worldwide. The bank facilitates remittances from the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, UAE, Bahrain, Kuwait, India, Jordan, and other countries, ensuring that the Nepalese diaspora can easily support their families back home.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This new agreement with Gulf Exchange Company W.L.L. marks a significant step in enhancing the remittance services for Nepalese migrants in Qatar, providing them with reliable, efficient, and accessible options for sending money to Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21444', 'image' => '20240802104207_IMG-20240801-WA0003.jpg', 'article_date' => '2024-08-02 10:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21716', 'article_category_id' => '1', 'title' => 'SEBON Committed to Protecting Investors' Interests', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong>KATHMANDU, August 2:</strong> The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. He reiterated SEBON's commitment to protecting the interests of investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the 12th anniversary of NIMB Ace Capital Limited on Thursday, Adhikari highlighted SEBON's efforts to address the concerns of financial management companies, as well as its role in regulating and managing securities and related activities.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari also acknowledged the recent monetary policy introduced by the central bank, which aims to invigorate the stock market. He expressed appreciation for the removal of the Rs 200 million cap on institutional share traders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Chief Secretary Bimal Koirala, who also spoke at the event, stressed the need for a secure and reliable stock trading system. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21443', 'image' => '20240802092018_Sebon-update.jpg', 'article_date' => '2024-08-02 09:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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According to the Central Police News Room, three people died in Kathmandu Valley, 25 in Koshi Province, six in Madhesh, 29 in Bagmati, 42 in Gandaki, 27 in Lumbini, eight in Karnali and 10 in Far West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, 49 people are missing and 177 people were injured in the disaster, while 180 people were rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, three hundred and eighty-four houses have been inundated due to floods. Four thousand two hundred and nineteen families have been displaced due to the incidents that have taken place since June 10 when the monsoon entered Nepal. The monsoon is expected to leave Nepal in early October. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21457', 'image' => '20240804120345_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-08-04 12:02:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21731', 'article_category_id' => '1', 'title' => 'Doctors Advise Nursing Mothers to Avoid Mobile Phone while Breastfeeding ', 'sub_title' => '', 'summary' => 'CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction organized in Bharatpur on Saturday to mark the World Breastfeeding Week, the doctors argued using mobile phones while breastfeeding would neither benefit the mother nor the babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pediatricians at Bharatpur Hospital Dr Sweta Kumari Gupta advised lactating mothers that they stopped using mobile phones during breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, the use of mobile phone while breastfeeding could divert the attention of the mothers from their babies to elsewhere. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Mothers could remain unaware whether the baby consumed milk or not, got enough milk or not if she uses mobile phone while breastfeeding," she said, arguing that affection towards babies could also decrease. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Emphasizing touch and emotional engagement with the child to boost early childhood development, the doctor emphasized mothers to snuggle and caress their babies while breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also to take into account during the suckling is the posture of both mother and baby. The newborn may not need anything except mother's milk till six months from the birth, she informed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that regularly breastfed babies are less likely to suffer pneumonia, diarrhoea and asthma, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the mother's milk should be fed to babies as much as possible for the physical development of the child, Dr Gupta said mother's milk could be collected and fed to baby if the new mothers have to go for work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, mother's milk collected and kept in room temperature could be used within 4 to 6 hours, but it can be used within 24 hours if kept in refrigerator. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She, however, advised not to directly heat such refrigerated milk. Such milk should be warmed by placing it in a container and kept it in a hot water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is suitable to give supplementary food to newborns after six months of their birth, she mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Prof Dr Sunil Mani Pokharel, gynecologist and Chief of Bharatpur Hospital's Department of Gynecology, claimed that regularly feeding mother's milk would benefit both mothers and babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Breastfeeding the newborns up to six months would also boost the health and physical development of the child. He said that feeding the mother's milk for 8 to 12 times a day would be beneficial for babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking about the benefits of breastfeeding to mothers, he shared that mothers who breastfeed regularly have less chance of developing breast and ovarian cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel mentioned that mother’s milk is the ideal food for the babies. "Babies should be breastfed for at least first two years. It helps foster love and affection between babies and mother." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that in recent period, many mothers are avoiding this essential part of motherhood for the sake of physical beauty, he mentioned such act would however create adverse impacts on the physical and mental growth of babies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel further shared that the number of people visiting Bharatpur Hospital for maternity services has decreased in recent years. The hospital recorded more than 9,000 maternity cases in the last fiscal year while there were more than 12,000 in previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maternity service through health clinics at villages by the local levels as well as brain drain of youths are the reasons behind decreasing number of people visiting the hospital for maternity service, he explained. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21456', 'image' => '20240804125828_Untitled.jpg', 'article_date' => '2024-08-04 12:57:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21728', 'article_category_id' => '1', 'title' => 'Chitwan Traffic Office Collects Over Rs 30 Million in Revenue', 'sub_title' => '', 'summary' => 'The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. According to traffic office, revenue of 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">August 4: The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. </span></span><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">According to traffic office, revenue of Rs 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year, the office had collected Rs 3,4538,500 in revenue, with 40,664 vehicles being fined, according to the office.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Traffic Office Chief Suresh Subedi stated that the implementation of the Traffic Violation Record System (TVRS) since the last fiscal year has led to a decrease in revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Under TVRS, first-time offenders are fined a minimum amount. Once the traffic police enter the driver's information into the system, the driver can pay the fine online.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The government has started implementing this system in all districts of the country to standardize the fine system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The office collected the highest amount of fines in the month of Poush, with Rs 2.89 million, and the lowest in the month of Kartik, with Rs 2.03 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> Rs 2.43 million was collected in Shrawan, Rs 2.37 million in Bhadra, Rs 2.87 million in Ashoj, Rs 2.67 million in Mangsir, and Rs 2.86 million in Magh.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Similarly, fines of Rs 2.64 million were collected in Falgun, Rs 2.50 million in Chaitra, Rs 2.52 million in Baisakh, Rs 2.70 million in Jestha, and Rs 2.22 million in Asar.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21454', 'image' => '20240804064213_collage (87).jpg', 'article_date' => '2024-08-04 06:40:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21727', 'article_category_id' => '1', 'title' => 'Faulty Budget Allocation Behind Implementation Challenges: Minister Paudel', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at a meeting of the parliamentary committee on finance on Friday, Minister Paudel highlighted that the budget was allocated without properly identifying sources, and it lacked foresight, as the outcomes were overlooked.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Paudel informed that the government will prioritize the completion of ongoing projects while implementing the budget for the current fiscal year 2024/25. Additionally, adequate resources will be allocated to mega and national pride projects. The government will also prioritize projects that promise quick results. "The incumbent government does not spend indiscriminately," he said, assuring fiscal discipline in public spending.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On a different note, the minister mentioned that the government would evaluate the necessity and relevance of seeking support from development partners and donor agencies. "We should only accept international support and mobilize it after analyzing our needs and priorities," he stated.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, the public debt, which has surpassed 40 percent of the country's GDP, should not be considered disorderly. He emphasized that public debt should be directed towards productive sectors and capital formation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, the finance minister pledged to maintain consistency between the government's fiscal and monetary policies to revitalize the country's economy and achieve sustainable growth. He added that his ministry would not interfere with the functions of Nepal Rastra Bank, an autonomous agency responsible for issuing monetary policy, but would instead work in coordination with it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that positive changes were observed in the capital market following the introduction of the new monetary policy and urged investors to make well-informed choices. He advised that investment in the capital market should be based on the financial situation of the respective companies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Assuring his ministry's role in ensuring the stock market matures, the minister stressed that the regulatory body should be highly vigilant to prevent activities like insider trading in the capital market. Regarding the establishment of a new stock exchange, he said that the government would make appropriate decisions after conducting necessary studies on the matter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also speaking at the meeting, former Finance Minister Dr. Prakash Sharan Mahat asserted that the government could not afford to spend indiscriminately to appease the public. "We must avoid populism. Discipline is essential in public expenditure management," he advised.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Dr. Mahat, there is no alternative but to increase capital expenditure to improve the national economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As for the monetary policy, he observed inconsistencies, noting that "sometimes Nepal Rastra Bank introduces expansionary provisions, while at other times, it's too strict."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The parliamentarians attending the committee meeting expressed that the bills sent to the committee should be forwarded to parliament as soon as possible after deliberation. They also called for effective implementation of the programs included in the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21453', 'image' => '20240803022235_budget.jpg', 'article_date' => '2024-08-03 14:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21726', 'article_category_id' => '1', 'title' => 'International Hot Air Balloon Festival in Pokhara ', 'sub_title' => '', 'summary' => 'Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Balloon Nepal Pvt. Ltd will be hosting the festival in and around the source of Phewa lake with the objective of further promoting Pokhara at the international level. The festival will be held from the December 29 to January 2 marking the New Year 2025, said Bikram Bade, chairperson of Balloon Pvt. Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">About 20 to 25 balloons will be brought from different countries around the world for the festival. It is estimated to cost Rs 6.5 million to orgasnise the festival. The festival is being held with the support and collaboration of Nepal Tourism Board, Ministry of Culture, Tourism and Civil Aviation, Gandaki Province Government, Pokhara Metropolitan City, Civil Aviation Authority of Nepal, Pokhara Tourism Council among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Tourism Council Chair Pomnarayan Shrestha said that the festival will be a historic event for Pokhara, the tourism capital of the country and for the entire Gandaki province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sabin Maharjan, the proprietor of Balloon Nepal, said that flying in a hot air balloon offers panoramic view of mountains like Machhapuchhre, Annapurna, full-sized Phewa Lake, Pumdikot Mahadev, paragliders flying from Sarangkot and the beautiful scenery around Pokhara Valley. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21452', 'image' => '20240803121618_20190101025441_aa.jpg', 'article_date' => '2024-08-03 12:15:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21725', 'article_category_id' => '1', 'title' => 'PM Oli Directs Stakeholders to Operate New International Airports Effectively', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting at the Office of the Prime Minister and the Council of Ministers on Friday, PM Oli inquired about the current flight congestion and passenger management at Tribhuvan International Airport. He pledged to soon operate both the new international airports at full capacity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The prime minister instructed ministers to create a conducive environment for regular international flights from the two airports. He stated that if the aviation regulatory body addresses the concerns of the international airlines interested in these airports, the government will include them in the schedule and proceed accordingly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">PM Oli emphasized the seriousness of the issue, highlighting the significant losses caused by the underutilization of the two international airports. He noted that Tribhuvan International Airport is forced to handle more flights and passengers than its capacity, a situation that could be alleviated by the smooth operation of the new international airports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He directed the concerned officials to submit plans for the effective operation of both airports, including improvements in immigration and other facilities, and the relocation of fuel depots if they are too close to the airport. PM Oli assured that the Cabinet could help resolve these issues if they are communicated in time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel; Foreign Minister Dr. Arzu Rana Deuba; Minister for Labour and Employment Sharat Singh Bhandari; Minister for Culture, Tourism, and Civil Aviation Badri Prasad Pandey; and other officials were present at the meeting. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21451', 'image' => '20240803115521_20230227020513_Pokhara-Airport-800X533.jpg', 'article_date' => '2024-08-03 11:54:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21724', 'article_category_id' => '1', 'title' => 'IPPAN Urges PM Oli to Address Private Sector Concerns in Electricity Bill', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 1: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A delegation led by IPPAN President Ganesh Karki met the Prime Minister at his official residence in Baluwatar on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The IPPAN urged the Prime Minister to amend the Electricity Bill, 2080, currently under parliamentary review, to include provisions for private sector participation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The delegation expressed concerns that the bill's current provisions could exclude private entities and lead to the cancellation of approximately 30,000 megawatts of planned projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Additionally, IPPAN requested the immediate opening of power purchase agreements for 13,000 MW-capacity projects that are in the pipeline. RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21450', 'image' => '20240802082221_Pradhanmantrikosachiwalaya-18WhatsAppImage2024-08-02at2.10.JPG', 'article_date' => '2024-08-02 20:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21723', 'article_category_id' => '1', 'title' => 'NRB Eases Foreign Exchange Provisions for Nepali Travellers and Traders', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Nepal Rastra Bank (NRB) has eased the foreign exchange rules for Nepali travellers and traders by amending its Unified Directive-2080.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the amendment, the central bank has provided Nepalis visiting foreign countries, except India, an exchange facility of up to $2,500 per trip, on the basis of their passport. Though the Nepali citizens were allowed to withdraw $2,500 per trip earlier, the facility could only be used twice a year at most.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the NRB has also increased the limitation for the use of money for the Nepalis having accounts and earning in foreign currency when they travel abroad to $25,000 from $15,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The move follows the central bank’s decision in its monetary policy that the foreign exchange facility on the basis of passport would be eased in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revision also comes at a time when the country's foreign exchange reserves is sufficient to cover the prospective merchandise imports for 15 months, and merchandise and services imports for 12 and a half months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal’s gross foreign exchange reserves surged by 27.8% to Rs 1,967.19 billion in mid-June this year from Rs 1,539.36 billion in mid-July 2023, central bank’s data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the reduction in import, growing remittance inflow and decline in credit expansion, Nepal’s foreign exchange reserves has continued to surge recently.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the remittance inflow increased by 19.3% to Rs 1327.51 billion in the first 11 months, until mid-June, of the last fiscal year compared to an increase of 22.7% in the same period of the previous year, Nepal’s imports decreased by 1.8% in the review period, according to the NRB.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has also doubled the foreign exchange facility being provided to Nepalis with visas for visiting Tibet in China and SAARC countries (except India) through land routes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The exchange facility has been increased up to $1,000 once and $2,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The provision, however, is only for the travellers. So, Nepali residents on the Nepal-Tibet border who make frequent trips to Tibet would not be able to use it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the members of the recruitment agencies sending up to 100 workers overseas in a year will now be eligible to get a foreign exchange facility up to $25,000 in a year, those from agencies sending more than 100 workers will be provided an exchange facility up to $30,000 in a year during their foreign visits. Earlier, the limits of the exchange facilities were $15,000 and $20,000 respectively. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has a provision of providing bullion traders a foreign exchange facility up to $300,000 on every import of silver for producing jewellery, artistic goods and utensils among others. Similarly, foreign exchange limit for other silver importers has been set at $100,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised provision has increased the limit of foreign exchange while importing goods to $100,000 from $60,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has also brought into implementation the announcements it had made in the new monetary policy about increasing exchange limits for Draft/Telex Transfer (TT) facilities and ‘Document Against Payment’ and ‘Document Against Acceptance’ for importing goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the foreign exchange limit for Draft/ Telex Transfer (TT) facilities in the import of goods has been raised from $35,000 to $50,000, the limit for ‘Document Against Payment’ and ‘Document Against Acceptance’ has been increased from existing $60,000 to $100,000.</span></span></span></span></p> <p><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21449', 'image' => '20240802061509_20240801033027_NRB new.jpg', 'article_date' => '2024-08-02 18:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21722', 'article_category_id' => '1', 'title' => 'NAC’s Debt Obligation Remains High Despite Payment', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations. On June 18, 2013, NAC secured a Rs 9.98 billion loan from the EPF, backed by a government guarantee of Rs 10 billion, with a commitment to pay installments every three months over 15 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In addition, on June 11, 2017, NAC signed another agreement with the EPF for a Rs 11.99 billion loan, with a guaranteed of Rs 12 billion from the government, to acquire a wide-body aircraft of Airbus. In total, EPF provided NAC with Rs 21.97 billion for aircraft purchases. According to EPF spokesperson Damodar Prasad Subedi, NAC paid Rs 1.62 billion in the last fiscal year (FY 2080/81). However, despite the payments, NAC’s debt obligations are increasing, with Rs 28.87 billion still owed to EPF. The repayment deadline for the wide-body aircraft loan is eight years away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NAC also secured a Rs 12 billion loan from the Citizen Investment Trust (CIT) to purchase a wide-body aircraft, with a similar 15-year repayment term. However, NAC’s debt to both EPF and CIT has grown instead of decreasing, prompting the corporation to lobby for an extension of the repayment period and interest waivers for the time impacted by the coronavirus pandemic. NAC officials say the state-owned airliner has formally requested both EPF and CIT to increase the number of installments and facilitate easier repayment terms, but no agreement has been reached.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NAC is seeking new lenders to manage existing debts, purchase additional aircraft, and build a hangar, with an estimated requirement of Rs 135 billion. Of this, Rs 55 billion is intended for managing aircraft-related debt. NAC argues that the current interest rates—10 percent from EPF and 9 percent from CIT—are high and is looking for loans at subsidized rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">EPF confirmed that NAC has requested an extension of the repayment period and an interest waiver. However, no official decisions have been made, and it remains unclear when or how much exemption was requested. CIT Information Officer Uddhav Silwal on the other hand mentioned that they have not received any formal request from NAC regarding an installment extension.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the pandemic, NAC proposed an interest exemption to CIT, but the board of directors did not take any decision on this matter. As of the last fiscal year, NAC’s outstanding principal and interest to CIT amounted to Rs 19.50 billion. Despite an agreement to pay Rs 400 million in quarterly installments, NAC could not meet this obligation, and the installment amount has now risen to Rs 720 million. NAC paid Rs 400 million in the last fiscal year, but the total arrears to CIT has reached Rs 19.39 billion as of mid-June.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Subedi of EPF emphasized that the maximum repayment period for the loans cannot exceed 15 years, in accordance with current rules. The 61st annual report of the Auditor General noted that NAC has not fully paid the interest, leading to an increase in the principal amount due to a decision by the board of directors to capitalize the interest owed to EPF.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21448', 'image' => '20240802034737_1693297866.Nepal Airlines.jpg', 'article_date' => '2024-08-02 15:46:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21721', 'article_category_id' => '1', 'title' => 'Business of Non-life Insurance Companies Slightly Improves in Last Fiscal Year', 'sub_title' => 'The companies collected 3.11% more in insurance premiums in 2023/24 than in 2022/23.', 'summary' => 'The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the latest data from the Nepal Insurance Authority, non-life insurance companies collected Rs 41.46 billion in insurance premiums from the sale of around 2.97 million insurance policies in the last fiscal year, which ended on July 15.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The premiums collected was 3.11% more than that in the previous fiscal year 2022-23, when the companies had collected Rs 40.21 billion from the sale of around 2.79 million units of insurance policies. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The decline in credit expansion from banks and financial institutions has affected the businesses of insurance companies, said Chunky Chhetri, president of the Nepal Insurers’ Association.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It is natural for the business of insurance companies to be affected amid the slowdown in the economy as its growth is linked to the economy,” said Chhetri, adding that the NRB’ move to ease the overall economy including the insurance sector in the coming days through the monetary policy will have a positive impact in this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has brought a flexible monetary policy for the current fiscal year, giving concessions to contractors in loan repayment and blacklisting provisions. Similarly, the NRB has also extended the deadline to implement current capital loan guidelines by one year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Three of the 14 non-life insurance companies in operation saw their businesses decline in the last fiscal year, according to the Nepal Insurance Authority. Among them, the Rastriya Beema Company, whose insurance premium collection decreased by 31%, reported the biggest decline.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Among other 11 companies who saw their businesses grow, the Oriental Insurance Company Limited remained at the top with a 44% growth.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Shikhar Insurance topped the list for doing the most business in the review period. Shikhar ranked first in insurance premium collection, which surged by 2.89% to Rs 5.47 billion in the last fiscal year compared to the previous year – FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the four non-life microinsurance companies in operation collected Rs 294.8 million in insurance premium by issuing 127,000 insurance policies in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Though the insurance authority had allowed four micro-insurances to operate in the previous fiscal year, only two came into operation in that period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">There was a growth in the businesses on microinsurance as all four companies started their business by the end of the last fiscal year, according to the authority.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21447', 'image' => '20240802012739_insurance non life.jpg', 'article_date' => '2024-08-02 13:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21720', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All Time High in Nepali Market ', 'sub_title' => 'The hallmark gold is being traded at Rs 149,900 per tola on Friday', 'summary' => 'Price of gold has reached an all-time high in the domestic market of Nepal on Friday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 2: Price of gold has reached an all-time high in the domestic market of Nepal on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold, which was traded at Rs 149,400 per tola (11.66 grams) on Thursday, is being traded at Rs 149,900 per tola on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on July 17, its price had reached Rs 149,800 per tola, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of gold has been rising steadily of late. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing geopolitical tension due to the Israel’s offensive in Gaza as well as Lebanon and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21446', 'image' => '20240802125640_20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-02 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21719', 'article_category_id' => '1', 'title' => 'CAAN Gives Approval for Thai AirAsia to Operate Flights to Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa. The airline had requested permission to operate flights for seven days a week, and the regulatory body of Nepal has approved four flights from Gautam Buddha International Airport and three flights from Tribhuvan International Airport.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Thailand-based AirAsia Group had applied to the CAAN to operate daily flights from Tribhuvan International Airport. However, due to planned expansion work that will close the airport for 10 hours daily starting on November 1, 2024, the authority has asked the airline to operate four flights from Gautam Buddha International Airport instead.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gyanendra Bhul, information officer of CAAN, stated that the company has applied for one daily flight from Bangkok to Kathmandu, beginning from September 24, 2024. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"With the airport getting closed for 10 hours daily and operating only for 14 hours starting from November 1, 2024, the airport's capacity will decrease," said Bhul. "Therefore, out of the daily flights requested by the company, four flights have been approved for Bhairahawa."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gautam Buddha International Airport, inaugurated in May 16, 2022, currently has no regular international flights. Thai AirAsia has now been permitted to operate four flights a week from this airport. Earlier, Al Jazeera Airways began regular flights to this airport but later discontinued them. The lack of regular flights at Gautam Buddha and Pokhara international airports, both of which were built with foreign loans, continues to add to the financial burden on the government.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21445', 'image' => '20240802105556_1652654595.Clipboard07.jpg', 'article_date' => '2024-08-02 10:55:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21718', 'article_category_id' => '1', 'title' => 'Global IME Bank and Gulf Exchange Company Sign Agreement to Ease Money Transfer from Qatar to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The agreement aims to provide an efficient and convenient channel for transferring money from Qatar to Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under the agreement, Nepalese migrants can send remittances through any of the 17 branches of Gulf Exchange Company W.L.L. in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Additionally, the remittances can also be sent using the Gulf Exchange Company W.L.L.'s Remittance App, making the process more accessible and user-friendly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The remitted funds can be collected from all branches of Global IME Bank across Nepal. Furthermore, the partnership extends the reach of remittance services through the 50,000-plus agent network of IME Limited and GME Remit throughout the country. This wide network ensures that recipients, even in remote areas, can easily access the remitted funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepalese residing in Qatar also have the option to send remittances directly to their own or their family members' bank accounts in Nepal, offering greater convenience and security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Global IME Bank is the first private sector bank in Nepal to establish a branch network in all 77 districts of the country. The bank operates over 1,100 service centers, including 354 branch offices, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and three foreign representative offices.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In addition to providing comprehensive banking services to Nepali citizens, Global IME Bank offers extensive remittance services from various countries worldwide. The bank facilitates remittances from the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, UAE, Bahrain, Kuwait, India, Jordan, and other countries, ensuring that the Nepalese diaspora can easily support their families back home.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This new agreement with Gulf Exchange Company W.L.L. marks a significant step in enhancing the remittance services for Nepalese migrants in Qatar, providing them with reliable, efficient, and accessible options for sending money to Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21444', 'image' => '20240802104207_IMG-20240801-WA0003.jpg', 'article_date' => '2024-08-02 10:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21716', 'article_category_id' => '1', 'title' => 'SEBON Committed to Protecting Investors' Interests', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong>KATHMANDU, August 2:</strong> The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. He reiterated SEBON's commitment to protecting the interests of investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the 12th anniversary of NIMB Ace Capital Limited on Thursday, Adhikari highlighted SEBON's efforts to address the concerns of financial management companies, as well as its role in regulating and managing securities and related activities.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari also acknowledged the recent monetary policy introduced by the central bank, which aims to invigorate the stock market. He expressed appreciation for the removal of the Rs 200 million cap on institutional share traders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Chief Secretary Bimal Koirala, who also spoke at the event, stressed the need for a secure and reliable stock trading system. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21443', 'image' => '20240802092018_Sebon-update.jpg', 'article_date' => '2024-08-02 09:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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According to the Central Police News Room, three people died in Kathmandu Valley, 25 in Koshi Province, six in Madhesh, 29 in Bagmati, 42 in Gandaki, 27 in Lumbini, eight in Karnali and 10 in Far West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, 49 people are missing and 177 people were injured in the disaster, while 180 people were rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, three hundred and eighty-four houses have been inundated due to floods. Four thousand two hundred and nineteen families have been displaced due to the incidents that have taken place since June 10 when the monsoon entered Nepal. The monsoon is expected to leave Nepal in early October. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21457', 'image' => '20240804120345_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-08-04 12:02:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21731', 'article_category_id' => '1', 'title' => 'Doctors Advise Nursing Mothers to Avoid Mobile Phone while Breastfeeding ', 'sub_title' => '', 'summary' => 'CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CHITWAN, August 3: Medical doctors have suggested mothers not to use mobile phones while breastfeeding their babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction organized in Bharatpur on Saturday to mark the World Breastfeeding Week, the doctors argued using mobile phones while breastfeeding would neither benefit the mother nor the babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pediatricians at Bharatpur Hospital Dr Sweta Kumari Gupta advised lactating mothers that they stopped using mobile phones during breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, the use of mobile phone while breastfeeding could divert the attention of the mothers from their babies to elsewhere. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Mothers could remain unaware whether the baby consumed milk or not, got enough milk or not if she uses mobile phone while breastfeeding," she said, arguing that affection towards babies could also decrease. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Emphasizing touch and emotional engagement with the child to boost early childhood development, the doctor emphasized mothers to snuggle and caress their babies while breastfeeding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also to take into account during the suckling is the posture of both mother and baby. The newborn may not need anything except mother's milk till six months from the birth, she informed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that regularly breastfed babies are less likely to suffer pneumonia, diarrhoea and asthma, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the mother's milk should be fed to babies as much as possible for the physical development of the child, Dr Gupta said mother's milk could be collected and fed to baby if the new mothers have to go for work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to her, mother's milk collected and kept in room temperature could be used within 4 to 6 hours, but it can be used within 24 hours if kept in refrigerator. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She, however, advised not to directly heat such refrigerated milk. Such milk should be warmed by placing it in a container and kept it in a hot water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is suitable to give supplementary food to newborns after six months of their birth, she mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Prof Dr Sunil Mani Pokharel, gynecologist and Chief of Bharatpur Hospital's Department of Gynecology, claimed that regularly feeding mother's milk would benefit both mothers and babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Breastfeeding the newborns up to six months would also boost the health and physical development of the child. He said that feeding the mother's milk for 8 to 12 times a day would be beneficial for babies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking about the benefits of breastfeeding to mothers, he shared that mothers who breastfeed regularly have less chance of developing breast and ovarian cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel mentioned that mother’s milk is the ideal food for the babies. "Babies should be breastfed for at least first two years. It helps foster love and affection between babies and mother." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that in recent period, many mothers are avoiding this essential part of motherhood for the sake of physical beauty, he mentioned such act would however create adverse impacts on the physical and mental growth of babies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Pokharel further shared that the number of people visiting Bharatpur Hospital for maternity services has decreased in recent years. The hospital recorded more than 9,000 maternity cases in the last fiscal year while there were more than 12,000 in previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maternity service through health clinics at villages by the local levels as well as brain drain of youths are the reasons behind decreasing number of people visiting the hospital for maternity service, he explained. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21456', 'image' => '20240804125828_Untitled.jpg', 'article_date' => '2024-08-04 12:57:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21728', 'article_category_id' => '1', 'title' => 'Chitwan Traffic Office Collects Over Rs 30 Million in Revenue', 'sub_title' => '', 'summary' => 'The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. According to traffic office, revenue of 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">August 4: The District Traffic Police Office Chitwan has collected over Rs 30 million in revenue in one year. </span></span><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">According to traffic office, revenue of Rs 3,0767,500 was collected in the fiscal year 2080/81. During this period, 41,998 vehicles were fined.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year, the office had collected Rs 3,4538,500 in revenue, with 40,664 vehicles being fined, according to the office.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Traffic Office Chief Suresh Subedi stated that the implementation of the Traffic Violation Record System (TVRS) since the last fiscal year has led to a decrease in revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Under TVRS, first-time offenders are fined a minimum amount. Once the traffic police enter the driver's information into the system, the driver can pay the fine online.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The government has started implementing this system in all districts of the country to standardize the fine system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The office collected the highest amount of fines in the month of Poush, with Rs 2.89 million, and the lowest in the month of Kartik, with Rs 2.03 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> Rs 2.43 million was collected in Shrawan, Rs 2.37 million in Bhadra, Rs 2.87 million in Ashoj, Rs 2.67 million in Mangsir, and Rs 2.86 million in Magh.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Similarly, fines of Rs 2.64 million were collected in Falgun, Rs 2.50 million in Chaitra, Rs 2.52 million in Baisakh, Rs 2.70 million in Jestha, and Rs 2.22 million in Asar.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-04', 'modified' => '2024-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '21454', 'image' => '20240804064213_collage (87).jpg', 'article_date' => '2024-08-04 06:40:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21727', 'article_category_id' => '1', 'title' => 'Faulty Budget Allocation Behind Implementation Challenges: Minister Paudel', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel insists that budget implementation remains challenging due to faulty allocation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at a meeting of the parliamentary committee on finance on Friday, Minister Paudel highlighted that the budget was allocated without properly identifying sources, and it lacked foresight, as the outcomes were overlooked.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Paudel informed that the government will prioritize the completion of ongoing projects while implementing the budget for the current fiscal year 2024/25. Additionally, adequate resources will be allocated to mega and national pride projects. The government will also prioritize projects that promise quick results. "The incumbent government does not spend indiscriminately," he said, assuring fiscal discipline in public spending.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On a different note, the minister mentioned that the government would evaluate the necessity and relevance of seeking support from development partners and donor agencies. "We should only accept international support and mobilize it after analyzing our needs and priorities," he stated.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, the public debt, which has surpassed 40 percent of the country's GDP, should not be considered disorderly. He emphasized that public debt should be directed towards productive sectors and capital formation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, the finance minister pledged to maintain consistency between the government's fiscal and monetary policies to revitalize the country's economy and achieve sustainable growth. He added that his ministry would not interfere with the functions of Nepal Rastra Bank, an autonomous agency responsible for issuing monetary policy, but would instead work in coordination with it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that positive changes were observed in the capital market following the introduction of the new monetary policy and urged investors to make well-informed choices. He advised that investment in the capital market should be based on the financial situation of the respective companies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Assuring his ministry's role in ensuring the stock market matures, the minister stressed that the regulatory body should be highly vigilant to prevent activities like insider trading in the capital market. Regarding the establishment of a new stock exchange, he said that the government would make appropriate decisions after conducting necessary studies on the matter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also speaking at the meeting, former Finance Minister Dr. Prakash Sharan Mahat asserted that the government could not afford to spend indiscriminately to appease the public. "We must avoid populism. Discipline is essential in public expenditure management," he advised.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Dr. Mahat, there is no alternative but to increase capital expenditure to improve the national economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As for the monetary policy, he observed inconsistencies, noting that "sometimes Nepal Rastra Bank introduces expansionary provisions, while at other times, it's too strict."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The parliamentarians attending the committee meeting expressed that the bills sent to the committee should be forwarded to parliament as soon as possible after deliberation. They also called for effective implementation of the programs included in the budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21453', 'image' => '20240803022235_budget.jpg', 'article_date' => '2024-08-03 14:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21726', 'article_category_id' => '1', 'title' => 'International Hot Air Balloon Festival in Pokhara ', 'sub_title' => '', 'summary' => 'Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kaski, Aug 3: Pokhara, the lake city of Nepal, is gearing up to organize an international hot air balloon festival this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Balloon Nepal Pvt. Ltd will be hosting the festival in and around the source of Phewa lake with the objective of further promoting Pokhara at the international level. The festival will be held from the December 29 to January 2 marking the New Year 2025, said Bikram Bade, chairperson of Balloon Pvt. Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">About 20 to 25 balloons will be brought from different countries around the world for the festival. It is estimated to cost Rs 6.5 million to orgasnise the festival. The festival is being held with the support and collaboration of Nepal Tourism Board, Ministry of Culture, Tourism and Civil Aviation, Gandaki Province Government, Pokhara Metropolitan City, Civil Aviation Authority of Nepal, Pokhara Tourism Council among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Tourism Council Chair Pomnarayan Shrestha said that the festival will be a historic event for Pokhara, the tourism capital of the country and for the entire Gandaki province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sabin Maharjan, the proprietor of Balloon Nepal, said that flying in a hot air balloon offers panoramic view of mountains like Machhapuchhre, Annapurna, full-sized Phewa Lake, Pumdikot Mahadev, paragliders flying from Sarangkot and the beautiful scenery around Pokhara Valley. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21452', 'image' => '20240803121618_20190101025441_aa.jpg', 'article_date' => '2024-08-03 12:15:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21725', 'article_category_id' => '1', 'title' => 'PM Oli Directs Stakeholders to Operate New International Airports Effectively', 'sub_title' => '', 'summary' => 'KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 3: Prime Minister KP Sharma Oli held a high-level discussion with stakeholder for the full-fledged operation of the international airports in Pokhara and Bhairahawa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting at the Office of the Prime Minister and the Council of Ministers on Friday, PM Oli inquired about the current flight congestion and passenger management at Tribhuvan International Airport. He pledged to soon operate both the new international airports at full capacity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The prime minister instructed ministers to create a conducive environment for regular international flights from the two airports. He stated that if the aviation regulatory body addresses the concerns of the international airlines interested in these airports, the government will include them in the schedule and proceed accordingly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">PM Oli emphasized the seriousness of the issue, highlighting the significant losses caused by the underutilization of the two international airports. He noted that Tribhuvan International Airport is forced to handle more flights and passengers than its capacity, a situation that could be alleviated by the smooth operation of the new international airports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He directed the concerned officials to submit plans for the effective operation of both airports, including improvements in immigration and other facilities, and the relocation of fuel depots if they are too close to the airport. PM Oli assured that the Cabinet could help resolve these issues if they are communicated in time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel; Foreign Minister Dr. Arzu Rana Deuba; Minister for Labour and Employment Sharat Singh Bhandari; Minister for Culture, Tourism, and Civil Aviation Badri Prasad Pandey; and other officials were present at the meeting. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-03', 'modified' => '2024-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '21451', 'image' => '20240803115521_20230227020513_Pokhara-Airport-800X533.jpg', 'article_date' => '2024-08-03 11:54:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21724', 'article_category_id' => '1', 'title' => 'IPPAN Urges PM Oli to Address Private Sector Concerns in Electricity Bill', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 1: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Independent Power Producers' Association, Nepal (IPPAN) has called on Prime Minister KP Sharma Oli to address the private sector’s issues in energy legislation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A delegation led by IPPAN President Ganesh Karki met the Prime Minister at his official residence in Baluwatar on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The IPPAN urged the Prime Minister to amend the Electricity Bill, 2080, currently under parliamentary review, to include provisions for private sector participation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The delegation expressed concerns that the bill's current provisions could exclude private entities and lead to the cancellation of approximately 30,000 megawatts of planned projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Additionally, IPPAN requested the immediate opening of power purchase agreements for 13,000 MW-capacity projects that are in the pipeline. RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21450', 'image' => '20240802082221_Pradhanmantrikosachiwalaya-18WhatsAppImage2024-08-02at2.10.JPG', 'article_date' => '2024-08-02 20:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21723', 'article_category_id' => '1', 'title' => 'NRB Eases Foreign Exchange Provisions for Nepali Travellers and Traders', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Nepal Rastra Bank (NRB) has eased the foreign exchange rules for Nepali travellers and traders by amending its Unified Directive-2080.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the amendment, the central bank has provided Nepalis visiting foreign countries, except India, an exchange facility of up to $2,500 per trip, on the basis of their passport. Though the Nepali citizens were allowed to withdraw $2,500 per trip earlier, the facility could only be used twice a year at most.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the NRB has also increased the limitation for the use of money for the Nepalis having accounts and earning in foreign currency when they travel abroad to $25,000 from $15,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The move follows the central bank’s decision in its monetary policy that the foreign exchange facility on the basis of passport would be eased in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revision also comes at a time when the country's foreign exchange reserves is sufficient to cover the prospective merchandise imports for 15 months, and merchandise and services imports for 12 and a half months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal’s gross foreign exchange reserves surged by 27.8% to Rs 1,967.19 billion in mid-June this year from Rs 1,539.36 billion in mid-July 2023, central bank’s data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the reduction in import, growing remittance inflow and decline in credit expansion, Nepal’s foreign exchange reserves has continued to surge recently.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the remittance inflow increased by 19.3% to Rs 1327.51 billion in the first 11 months, until mid-June, of the last fiscal year compared to an increase of 22.7% in the same period of the previous year, Nepal’s imports decreased by 1.8% in the review period, according to the NRB.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has also doubled the foreign exchange facility being provided to Nepalis with visas for visiting Tibet in China and SAARC countries (except India) through land routes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The exchange facility has been increased up to $1,000 once and $2,000 in a fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The provision, however, is only for the travellers. So, Nepali residents on the Nepal-Tibet border who make frequent trips to Tibet would not be able to use it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the members of the recruitment agencies sending up to 100 workers overseas in a year will now be eligible to get a foreign exchange facility up to $25,000 in a year, those from agencies sending more than 100 workers will be provided an exchange facility up to $30,000 in a year during their foreign visits. Earlier, the limits of the exchange facilities were $15,000 and $20,000 respectively. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised directive has a provision of providing bullion traders a foreign exchange facility up to $300,000 on every import of silver for producing jewellery, artistic goods and utensils among others. Similarly, foreign exchange limit for other silver importers has been set at $100,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The revised provision has increased the limit of foreign exchange while importing goods to $100,000 from $60,000 per import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has also brought into implementation the announcements it had made in the new monetary policy about increasing exchange limits for Draft/Telex Transfer (TT) facilities and ‘Document Against Payment’ and ‘Document Against Acceptance’ for importing goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the foreign exchange limit for Draft/ Telex Transfer (TT) facilities in the import of goods has been raised from $35,000 to $50,000, the limit for ‘Document Against Payment’ and ‘Document Against Acceptance’ has been increased from existing $60,000 to $100,000.</span></span></span></span></p> <p><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21449', 'image' => '20240802061509_20240801033027_NRB new.jpg', 'article_date' => '2024-08-02 18:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21722', 'article_category_id' => '1', 'title' => 'NAC’s Debt Obligation Remains High Despite Payment', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: Nepal Airlines Corporation (NAC) has four years remaining to repay the loan taken from the Employee Provident Fund (EPF) to purchase a narrow-body aircraft of Airbus company aimed at expanding international flight operations. On June 18, 2013, NAC secured a Rs 9.98 billion loan from the EPF, backed by a government guarantee of Rs 10 billion, with a commitment to pay installments every three months over 15 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In addition, on June 11, 2017, NAC signed another agreement with the EPF for a Rs 11.99 billion loan, with a guaranteed of Rs 12 billion from the government, to acquire a wide-body aircraft of Airbus. In total, EPF provided NAC with Rs 21.97 billion for aircraft purchases. According to EPF spokesperson Damodar Prasad Subedi, NAC paid Rs 1.62 billion in the last fiscal year (FY 2080/81). However, despite the payments, NAC’s debt obligations are increasing, with Rs 28.87 billion still owed to EPF. The repayment deadline for the wide-body aircraft loan is eight years away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NAC also secured a Rs 12 billion loan from the Citizen Investment Trust (CIT) to purchase a wide-body aircraft, with a similar 15-year repayment term. However, NAC’s debt to both EPF and CIT has grown instead of decreasing, prompting the corporation to lobby for an extension of the repayment period and interest waivers for the time impacted by the coronavirus pandemic. NAC officials say the state-owned airliner has formally requested both EPF and CIT to increase the number of installments and facilitate easier repayment terms, but no agreement has been reached.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NAC is seeking new lenders to manage existing debts, purchase additional aircraft, and build a hangar, with an estimated requirement of Rs 135 billion. Of this, Rs 55 billion is intended for managing aircraft-related debt. NAC argues that the current interest rates—10 percent from EPF and 9 percent from CIT—are high and is looking for loans at subsidized rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">EPF confirmed that NAC has requested an extension of the repayment period and an interest waiver. However, no official decisions have been made, and it remains unclear when or how much exemption was requested. CIT Information Officer Uddhav Silwal on the other hand mentioned that they have not received any formal request from NAC regarding an installment extension.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the pandemic, NAC proposed an interest exemption to CIT, but the board of directors did not take any decision on this matter. As of the last fiscal year, NAC’s outstanding principal and interest to CIT amounted to Rs 19.50 billion. Despite an agreement to pay Rs 400 million in quarterly installments, NAC could not meet this obligation, and the installment amount has now risen to Rs 720 million. NAC paid Rs 400 million in the last fiscal year, but the total arrears to CIT has reached Rs 19.39 billion as of mid-June.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Subedi of EPF emphasized that the maximum repayment period for the loans cannot exceed 15 years, in accordance with current rules. The 61st annual report of the Auditor General noted that NAC has not fully paid the interest, leading to an increase in the principal amount due to a decision by the board of directors to capitalize the interest owed to EPF.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21448', 'image' => '20240802034737_1693297866.Nepal Airlines.jpg', 'article_date' => '2024-08-02 15:46:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21721', 'article_category_id' => '1', 'title' => 'Business of Non-life Insurance Companies Slightly Improves in Last Fiscal Year', 'sub_title' => 'The companies collected 3.11% more in insurance premiums in 2023/24 than in 2022/23.', 'summary' => 'The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 2</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The businesses of non-life insurance companies saw a slight improvement in the last fiscal year, FY 2023/24 despite a slowdown in the overall economy affecting this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the latest data from the Nepal Insurance Authority, non-life insurance companies collected Rs 41.46 billion in insurance premiums from the sale of around 2.97 million insurance policies in the last fiscal year, which ended on July 15.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The premiums collected was 3.11% more than that in the previous fiscal year 2022-23, when the companies had collected Rs 40.21 billion from the sale of around 2.79 million units of insurance policies. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The decline in credit expansion from banks and financial institutions has affected the businesses of insurance companies, said Chunky Chhetri, president of the Nepal Insurers’ Association.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It is natural for the business of insurance companies to be affected amid the slowdown in the economy as its growth is linked to the economy,” said Chhetri, adding that the NRB’ move to ease the overall economy including the insurance sector in the coming days through the monetary policy will have a positive impact in this sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The central bank has brought a flexible monetary policy for the current fiscal year, giving concessions to contractors in loan repayment and blacklisting provisions. Similarly, the NRB has also extended the deadline to implement current capital loan guidelines by one year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Three of the 14 non-life insurance companies in operation saw their businesses decline in the last fiscal year, according to the Nepal Insurance Authority. Among them, the Rastriya Beema Company, whose insurance premium collection decreased by 31%, reported the biggest decline.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Among other 11 companies who saw their businesses grow, the Oriental Insurance Company Limited remained at the top with a 44% growth.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Shikhar Insurance topped the list for doing the most business in the review period. Shikhar ranked first in insurance premium collection, which surged by 2.89% to Rs 5.47 billion in the last fiscal year compared to the previous year – FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, the four non-life microinsurance companies in operation collected Rs 294.8 million in insurance premium by issuing 127,000 insurance policies in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Though the insurance authority had allowed four micro-insurances to operate in the previous fiscal year, only two came into operation in that period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">There was a growth in the businesses on microinsurance as all four companies started their business by the end of the last fiscal year, according to the authority.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21447', 'image' => '20240802012739_insurance non life.jpg', 'article_date' => '2024-08-02 13:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21720', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All Time High in Nepali Market ', 'sub_title' => 'The hallmark gold is being traded at Rs 149,900 per tola on Friday', 'summary' => 'Price of gold has reached an all-time high in the domestic market of Nepal on Friday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 2: Price of gold has reached an all-time high in the domestic market of Nepal on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers' Association, hallmark gold, which was traded at Rs 149,400 per tola (11.66 grams) on Thursday, is being traded at Rs 149,900 per tola on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on July 17, its price had reached Rs 149,800 per tola, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of gold has been rising steadily of late. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing geopolitical tension due to the Israel’s offensive in Gaza as well as Lebanon and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21446', 'image' => '20240802125640_20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-02 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21719', 'article_category_id' => '1', 'title' => 'CAAN Gives Approval for Thai AirAsia to Operate Flights to Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 2: The Civil Aviation Authority of Nepal (CAAN) has granted permission to Thai AirAsia to operate flights from both Tribhuvan International Airport in Kathmandu and Gautam Buddha International Airport in Bhairahawa. The airline had requested permission to operate flights for seven days a week, and the regulatory body of Nepal has approved four flights from Gautam Buddha International Airport and three flights from Tribhuvan International Airport.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Thailand-based AirAsia Group had applied to the CAAN to operate daily flights from Tribhuvan International Airport. However, due to planned expansion work that will close the airport for 10 hours daily starting on November 1, 2024, the authority has asked the airline to operate four flights from Gautam Buddha International Airport instead.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gyanendra Bhul, information officer of CAAN, stated that the company has applied for one daily flight from Bangkok to Kathmandu, beginning from September 24, 2024. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"With the airport getting closed for 10 hours daily and operating only for 14 hours starting from November 1, 2024, the airport's capacity will decrease," said Bhul. "Therefore, out of the daily flights requested by the company, four flights have been approved for Bhairahawa."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gautam Buddha International Airport, inaugurated in May 16, 2022, currently has no regular international flights. Thai AirAsia has now been permitted to operate four flights a week from this airport. Earlier, Al Jazeera Airways began regular flights to this airport but later discontinued them. The lack of regular flights at Gautam Buddha and Pokhara international airports, both of which were built with foreign loans, continues to add to the financial burden on the government.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21445', 'image' => '20240802105556_1652654595.Clipboard07.jpg', 'article_date' => '2024-08-02 10:55:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21718', 'article_category_id' => '1', 'title' => 'Global IME Bank and Gulf Exchange Company Sign Agreement to Ease Money Transfer from Qatar to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 2: Global IME Bank Limited has entered into a strategic partnership with Gulf Exchange Company W.L.L., based in Qatar, to facilitate seamless remittance services for Nepalese migrants residing in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The agreement aims to provide an efficient and convenient channel for transferring money from Qatar to Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under the agreement, Nepalese migrants can send remittances through any of the 17 branches of Gulf Exchange Company W.L.L. in Qatar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Additionally, the remittances can also be sent using the Gulf Exchange Company W.L.L.'s Remittance App, making the process more accessible and user-friendly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The remitted funds can be collected from all branches of Global IME Bank across Nepal. Furthermore, the partnership extends the reach of remittance services through the 50,000-plus agent network of IME Limited and GME Remit throughout the country. This wide network ensures that recipients, even in remote areas, can easily access the remitted funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepalese residing in Qatar also have the option to send remittances directly to their own or their family members' bank accounts in Nepal, offering greater convenience and security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Global IME Bank is the first private sector bank in Nepal to establish a branch network in all 77 districts of the country. The bank operates over 1,100 service centers, including 354 branch offices, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and three foreign representative offices.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In addition to providing comprehensive banking services to Nepali citizens, Global IME Bank offers extensive remittance services from various countries worldwide. The bank facilitates remittances from the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, UAE, Bahrain, Kuwait, India, Jordan, and other countries, ensuring that the Nepalese diaspora can easily support their families back home.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This new agreement with Gulf Exchange Company W.L.L. marks a significant step in enhancing the remittance services for Nepalese migrants in Qatar, providing them with reliable, efficient, and accessible options for sending money to Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21444', 'image' => '20240802104207_IMG-20240801-WA0003.jpg', 'article_date' => '2024-08-02 10:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21716', 'article_category_id' => '1', 'title' => 'SEBON Committed to Protecting Investors' Interests', 'sub_title' => '', 'summary' => 'KATHMANDU, August 2: The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong>KATHMANDU, August 2:</strong> The Executive Director of the Securities Board of Nepal (SEBON), Nabaraj Adhikari, emphasized the crucial role of the stock market in supporting the country's economic growth. He reiterated SEBON's commitment to protecting the interests of investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the 12th anniversary of NIMB Ace Capital Limited on Thursday, Adhikari highlighted SEBON's efforts to address the concerns of financial management companies, as well as its role in regulating and managing securities and related activities.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari also acknowledged the recent monetary policy introduced by the central bank, which aims to invigorate the stock market. He expressed appreciation for the removal of the Rs 200 million cap on institutional share traders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Chief Secretary Bimal Koirala, who also spoke at the event, stressed the need for a secure and reliable stock trading system. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21443', 'image' => '20240802092018_Sebon-update.jpg', 'article_date' => '2024-08-02 09:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
