The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval…
…
The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval…
The flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there…
Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans.…
The price of gold surged by Rs 1,600 per tola in the domestic market on…
Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration…
ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24.…
KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24.…
KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the…
KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night.…
The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from…
KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun…
KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June…
KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in…
KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of…
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The union subsequently extended the work stoppage "indefinitely".</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 unclear exactly how many workers have downed tools, and Samsung has said the action is not affecting production, posting record growth and profits earlier this week for the second quarter.</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"">"If a delay occurs in semiconductor processing, the effects won't be immediate. It takes weeks or months," Lee Hyun-kuk, vice president of the National Samsung Electronics Union (NSEU), told AFP.</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 union engaged in eleventh-hour talks with management for three days, until Wednesday, but has failed to reach an agreement.</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"">Union executives gathered on Thursday outside Samsung Chairman Lee Jae-yong's house, holding pickets that read "Samsung Electronics' strike, Lee Jae-yong should be accountable".</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"">Another displayed a picture of Lee holding a finger to his mouth with the caption, "Shh! Labour union, what's that? Samsung strike, what's that?"</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 handful of police were deployed at the premises and the protest was interrupted by the police warning the union they were not allowed to chant.</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"">"In the 25 days since the strike began, all Lee has done is attend the wedding of the son of Asia's richest man and give out Samsung phones to Olympic athletes that are worth over 30 billion won ($22 million)," union member Kim Jae-won told reporters.</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"">Lee was a guest at the wedding of Indian billionaire Mukesh Ambani's youngest son Anant in July.</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"">Last week he attended a banquet co-hosted by French President Emmanuel Macron and International Olympic Committee President Thomas Bach at the Louvre Museum.</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 union claimed that the company was trying to break the strike with illegal means, including creating a "blacklist" of strike participants.</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"">"We will publicise all of this," Son Woo-mok, head of NSEU, told AFP. "Labour suppression, unfair labour practices, industrial accidents, the list continues."</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"">Samsung said Wednesday it was "communicating and discussing to ensure that this labour union strike ends early", adding there was "no problem with responding to our customer volume".</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 first labour union at Samsung Electronics was formed in the late 2010s.</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 National Samsung Electronics Union, which has around 36,000 members, or nearly a quarter of the company's total workforce, claims labour organising remains taboo at the company.</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"">Two years ago, the union staged a demonstration in front of Lee's residence, successfully securing three additional holidays.</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"">In 2020, former Samsung employees faced criticism for their unorthodox protest methods, which included grilling pork belly, drinking soju, and strumming guitars outside Lee's home. -- AFP/RSS</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21442', 'image' => '20240802095930_69611783_1004.jpg', 'article_date' => '2024-08-02 09:56:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21715', 'article_category_id' => '1', 'title' => 'IPPAN Urges Not to Halt Public Issuance Process', 'sub_title' => '', 'summary' => 'The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 2: The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN made this appeal in a press release issued on Thursday. Noting that there has been an attempt to financially undermine hydropower companies, IPPAN expressed its serious concern over the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The issuance of rights shares and IPOs of more than 32 hydropower companies worth over Rs 16 billion have been halted for the past six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The delay in appointment of the chairman of the Securities Board of Nepal (SEBON) is deliberate effort to financially destabilize hydropower companies,” said the press statement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The press statement accused certain groups of intentionally obstructing the appointment process for SEBON's chairman to serve their commercial interests, effectively holding the entire hydropower sector hostage.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN further alleged that SEBON has been concealing its past decisions related to the hydropower sector and is attempting to damage the reputation of the sector's entrepreneurs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">IPPAN also addressed recent media reports concerning the sale of founder/promoter shares, which claimed that the lock-in period for these shares in hydropower projects had been extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The association dismissed these reports as misleading and aimed at tarnishing the reputation of the hydropower sector.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN emphasized the need for clarity and transparency to protect the interests of the sector and its stakeholders.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21441', 'image' => '20240802055845_collage (86).jpg', 'article_date' => '2024-08-02 05:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21714', 'article_category_id' => '1', 'title' => 'Floods in Kathmandu Inundate Fruits and Vegetable Markets', 'sub_title' => 'Traders estimate a damage of over Rs 50 million in Balkhu and Rs 6.5 million in Kuleshwar. ', 'summary' => 'The flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. ', '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"">PRASHANT KHADKA</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"">KATHMANDU, August 1</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 flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. </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 450 stalls, it is considered one of the largest vegetable markets in the Kathmandu Valley.</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 estimated that there has been a loss of more than Rs 50 million,” Mohan Kumar Basnet, director of the market, told NBA. </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 Balkhu market supplies about 30% of the vegetables to the Kathmandu Valley.</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 Basnet, the flooded river started entering the market area around 1:45 am on Wednesday and took only 30 minutes to sweep away most of the food materials.</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"">“Two large trucks carrying vegetables and three smaller vehicles were also submerged, damaging their engines,” said Basnet. “The flood also caused damage to two generators, a car, seven motorcycles and two refrigerators.” </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"">Fruits and vegetables are brought at Balkhu from the hilly districts surrounding the Kathmandu Valley as well as from Terai. The produce is then supplied to a dozen smaller markets such as in Tukucha, Dhumbarahi and Kirtipur.</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"">Ram Kumar Siwakoti, who has been selling vegetables at the Balkhu market for about eight years, mentioned that the market is at high risk of flooding due to its proximity to the river. </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"">“Although the Bagmati floods inundate the market every year, this year's flood was unprecedented in its severity," said Siwakoti, claiming that the water level in the vegetable market has risen to as high as six feets. </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 around 70% of the food was swept away, the rest have been buried in mud.”</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 Basnet, Minister for Agriculture and Livestock Development Ramnath Adhikari, who visited the Balkhu market on Wednesday, has assured the vendors to appeal to the government for providing them compensation after receiving the details of destruction.</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 swollen river also caused damage worth around Rs 6.5 million at Kuleshwor Fruit Market where around 250 vendors operate.</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"">Purushottam Ghimire, treasurer at Nepal Fruits Wholesaler Association, said that the fruits stored to ripen were swept away by the flood.</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"">Following the flood, the market's turnover dipped by 90% on Wednesday. </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"">Business may be affected for a few more days as the market remains inundated.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21440', 'image' => '20240801071806_9e1cadda.jpeg', 'article_date' => '2024-08-01 19:16:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21713', 'article_category_id' => '1', 'title' => 'NRB Instructs Banks to Grant Loan Extension Facility for Contractors by Five Months', 'sub_title' => 'The central bank had announced the concession to contractors in its monetary policy', 'summary' => 'Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans. ', '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</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"">KATHMANDU, August 1</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"">Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans.</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"">For the implementation of its monetary policy, Nepal Rastra Bank (NRB) on Wednesday issued instructions to banks to extend the loan repayment deadline for contractors struggling under current circumstances by five months until mid-December this 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"">NRB has stipulated that interest accrued during this extension period will not be subject to further interest or penalties.</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"">However, the instructions specify that banks may impose penalty interest if the loan interest is not paid within the exemption 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"">The central bank had announced these concessions to contractors in its monetary policy.</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 National Statistics Office has already predicted that the construction sector would grow negatively by 2.07 percent in the last fiscal year 2023/24, 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"">Construction entrepreneurs have also been affected by delays in government payments, with over Rs 40 billion in arrears still outstanding for completed 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"">Both contractors and banks have been talking about the slowdown in the construction 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"">In addition, NRB has eased regulations regarding the blacklisting of construction entrepreneurs. According to the new guidelines, NRB has instructed that construction business organisations should not be blacklisted until mid-December 2024 solely due to dishonourable cheques.</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"">In line with the monetary policy announcement, NRB has also extended the deadline for implementing the working capital loan guidelines by one year. Banks will now have until mid-July 2025 to set limits on working capital loans in accordance with the guidelines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Flexible Provisions for Specialized Investment Funds</span></span></strong></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"">NRB has also introduced flexibility in the blacklisting provisions for specialised investment funds, such as private equity and venture capital. </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"">Small and medium enterprises with 50 percent or less share investment from domestic private equity and venture capital funds have been instructed not to be blacklisted solely because one company has been blacklisted.</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"">NRB Executive Director Guru Paudel said that those companies were exempted from blacklisting provisions to encourage specialised investment. </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 Securities Board of Nepal (SEBON) has been approving the operation of private equity and venture capital funds under the 'Specialized Investment Fund Regulations, 2075'. </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"">Till date, more than a dozen companies have received permission to operate these funds.</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 Chief Executive Officer of NRN Fund, Analraj Bhattarai, mentioned that this arrangement will encourage specialised investment institutions. Bhattarai said that since private equity and venture capital typically invest in multiple companies, blacklisting based on the status of a single company was problematic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21439', 'image' => '20240801033027_NRB new.jpg', 'article_date' => '2024-08-01 15:29:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21712', 'article_category_id' => '1', 'title' => 'Gold Price Surges to Rs 149,400 Per Tola ', 'sub_title' => 'The Precious Yellow Metal becomes Dearer by Rs 1,600 per Tola on Thursday', 'summary' => 'The price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. ', '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</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"">KATHMANDU, August 1</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 price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. </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 Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 147,800 per tola on Wednesday, is being traded at Rs 149,400 per tola on Thursday.</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 price of worked gold has surged to Rs 148,700 per tola from Rs 147,100 on Wednesday.</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 price of silver also went up in the domestic market by Rs 20 per tola on Thursday. Silver is currently being traded at Rs 1,800 per tola, up from Rs 1,780 per tola the previous day. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21438', 'image' => '20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-01 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21711', 'article_category_id' => '1', 'title' => 'Tourists’ Arrivals to Nepal Surge in July', 'sub_title' => 'A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last year', 'summary' => 'Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration show.', '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 1</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"">Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration 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"">A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last 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"">Most of the visitors were from the SAARC countries. According to the Department of Immigration, 27,212 or 42.1% of the visitors were from SAARC region with 21,491 from India alone.</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"">Nepal saw 11,901 visitors from other Asian countries including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand. </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 European tourists remained at 9,280 this July, followed by 7,864 Americans and 1,901 Australians who visited Nepal this July.</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 data show that foreign visitors from SAARC countries, other Asian countries, and Europe surged by 5.8%, 16.9% and 3.5%, respectively, this July. </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, 72.5% more Australians and 41.4% more Americans visited Nepal in the review period.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'tourists, arrival, Nepal, American, Chinese, Thailand, Myanmar, Japan, India, China', 'description' => '', 'sortorder' => '21437', 'image' => '20240801022351_20211211082422_Clipboard18.jpg', 'article_date' => '2024-08-01 14:22:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21710', 'article_category_id' => '1', 'title' => '59 Irrigation Projects Completed in Ilam with Investment of Rs 348.7 Million', 'sub_title' => '', 'summary' => 'ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. These projects, under the Small Irrigation Programme, have benefited over 2,100 households across the district.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The projects have improved irrigation facilities, bringing relief to local farmers. Ten projects were completed in Suryodaya Municipality, nine in Ilam Municipality, eight in Mangsebung Rural Municipality and seven in Mai Municipality, according to Keshav Lama, chief of the Small Irrigation Programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The construction of a canal with an investment of Rs 4 million in Gajurmukhi village of Mangsebung Rural Municipality has ended the compulsion to rely on rainwater for farming. Similarly, in Lapsibote of Maijogmai Rural Municipality, a project built with an investment of Rs 5 million is directly benefiting 58 households.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">These projects were developed through collaboration between the federal government, province government, local government, and the Swiss Government. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21436', 'image' => '20240801021518_breathtaking-view-of.jpg', 'article_date' => '2024-08-01 14:14:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21708', 'article_category_id' => '1', 'title' => 'Koshi Tappu Wildlife Reserve Collects Rs 4 Million in FY 2023/24', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. Assistant Conservation Officer of the wildlife reserve, Binaya Kumar Mishra, said the revenue was collected from the royalty of jungle safari, eco-tourism, penalty, elephant riding and other headings.<br /> The highest amount of revenue was collected from the tickets sold for the visitors there. The eastern belt of the wildlife reserve has become a key destination for academic excursions.<br /> The wildlife reserve charges Rs 750 in fees to the tourists from SAARC member states while visitors from other countries should pay Rs 1,500 to visit the site for 12 hours. </span></span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'Kosh, Tappu, wildlife, reserve, tourists, ticket, safari, SAARC', 'description' => '', 'sortorder' => '21434', 'image' => '20240801121518_koshi-tappu-wildli-life-reserve1505301650.jpg', 'article_date' => '2024-08-01 12:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21707', 'article_category_id' => '1', 'title' => 'Monsoon-Induced Disaster Death Toll Rises to 145', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Nepal Police Spokesperson and Deputy Inspector General of Police Dan Bahadur Karki, since the monsoon began on June 10, the casualties include two people in Kathmandu Valley, 24 in Koshi Province, six in Madhes, 29 in Bagmati, 42 in Gandaki, 24 in Lumbini, eight in Karnali, and 10 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During this period, 10 people were injured in Kathmandu Valley, 37 in Koshi, 10 in Madhes, nine in Bagmati, 34 in Gandaki, nine in Lumbini, 51 in Karnali, and 14 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Furthermore, three people were rescued in Kathmandu Valley, 49 in Koshi, 14 in Gandaki, two in Karnali, and five in Sudurpaschim Province. Police also reported that 47 people are missing in Koshi, 42 in Bagmati, two in Gandaki, and one in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A total of 184 houses have been submerged due to floods, while 248 houses, 88 sheds, 43 bridges, two schools, and two government offices have been damaged. Additionally, 672 cattle have perished in the disaster, and a total of 4,063 households have been displaced, said DIG Karki. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21433', 'image' => '20240801114325_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-08-01 11:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21706', 'article_category_id' => '1', 'title' => 'Night Rainfall to Continue till Friday', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. However, unlike the past three days, the upcoming days are expected to see an improvement in the weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rojan Lamichhane, a meteorologist at the division, stated that nighttime rain is expected from Wednesday through Friday, after which the weather will likely improve. The influence of monsoon winds remains active across the country, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The division also reported that the weather will remain partly to generally cloudy throughout the country today, August 1.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a weather bulletin on Thursday morning, the Weather Forecasting Division under the Department of Hydrology and Meteorology warned of heavy rainfall at one or two locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, with light to moderate rain accompanied by thunder and lightning expected in some areas of Koshi, Bagmati, Gandaki, Lumbini, Karnali, and Sudurpaschim provinces, as well as a few places in Madhes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Tonight, the weather is expected to remain partly to generally cloudy across the country, with light to moderate rain accompanied by thunder and lightning in a few locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, and at one or two locations in Madhes and Lumbini provinces. The division indicated that there is a likelihood of heavy rainfall at one or two locations in Koshi, Madhes, Bagmati, Gandaki, and Lumbini provinces tonight. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21432', 'image' => '20240801111319_rsain.jpeg', 'article_date' => '2024-08-01 11:12:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21705', 'article_category_id' => '1', 'title' => 'NOC Slashes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 31: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to a press release issued by the NOC on Wednesday, the price of petrol has been decreased by Rs 1 per litre, while diesel and kerosene oil have been reduced by Rs 2 per litre. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The price of aviation fuel remains unchanged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the new prices, petrol will cost Rs 167 per litre and diesel and kerosene oil Rs 155 per litre in Charali, Biratnagar, Janakpur, Amalekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In Surkhet and Dang, the price of petrol will be Rs 169 per litre, with diesel and kerosene oil priced at Rs 157 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Petrol will be sold at Rs 170 per litre in Pokhara, Kathmandu, and Dipayal, while diesel and kerosene oil will cost Rs 158 per litre. </span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21431', 'image' => '20240801055143_collage (85).jpg', 'article_date' => '2024-08-01 05:50:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '21704', 'article_category_id' => '1', 'title' => 'MCA-Nepal Completes Signing of All Three 400kV Substations', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district. According to the MCA-Nepal, which is responsible for implementing the projects under the grant assistance of the USA government’s Millennium Challenge Corporation (MCC), the estimated cost of constructing the substation is US$38.89 million and the contract was signed accordingly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this, MCA-Nepal has completed awarding contracts for the construction of all three 400 kV substations as part of implementing the Millennium Challenge Corporation (MCC) Nepal Compact, reads a statement issued by MCA-Nepal on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Once completed, the New Damauli Substation will have a capacity of 1000 Mega Volt Ampere, making it one of the largest substations in the country. The contract for the construction of the Ratmate Substation was signed with the same company in June 2024, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The MCA-Nepal further said that the New Damauli Substation will serve as a critical point of connection for power flow with the Ratmate, Lekhnath and New Butwal Substations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khadga Bahadur Bisht, executive director of MCA-Nepal, and Rajiv Agarwal, director (commercial) at TEECL, India signed and exchanged the contract on Wednesday. Minister for Energy, Water Resources and Irrigation Deepak Khadka, US Ambassador to Nepal Dean R. Thompson, MCA-Nepal board members, TEECL Managing Director Padam Prakash Gupta and officials from NEA along with MCC and MCA-Nepal officials were present on the occasion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event, Minister for Energy, Water Resources and Irrigation Dipak Khadka expressed his belief that the substations would significantly contribute in strengthening the electricity distribution system in Nepal and pave the way for economic prosperity. He also urged all stakeholders to strengthen efforts for the timely completion of the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr. Ram Prasad Ghimire, secretary at the Ministry of Finance, who is also the chair of the MCA-Nepal Board said, “The progress is a good indication of MCA-Nepal’s ongoing efforts to implement the MCC Nepal Compact. The three substations are essential to Nepal’s growing energy sector and will help ensure a reliable power sector to enhance industrial and commercial activities for the economic growth in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the event US Ambassador to Nepal, Thompson, acknowledged the important role each stakeholder played in the progress of this project and shaping a brighter future for Nepal. He further added, “The MCC Nepal Compact is going to be an important part of our shared success story, working with Nepal to power Nepali homes, power the Nepali economy, create jobs, and reduce poverty through inclusive and sustainable economic growth."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA-Nepal Executive Director Khadga Bahadur Bisht termed it a remarkable milestone to sign all three substation contracts while approaching the one-year anniversary of the launch of the Compact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I would like to acknowledge the support of the Government of Nepal and our key stakeholders – Ministry of Finance, the MCA Nepal Board, NEA and MCC for their continued support,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Along with the three substations, the MCC Nepal Compact will fund the construction of up to 315 km of transmission line from Lapsiphedi, Kathmandu to the Nepal-India border in Nawalparasi (Bardaghat Susta West) under the Electricity Transmission Project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA Nepal said that the bids for the 18 km cross-border transmission line have been received for evaluation. MCA-Nepal aims to award the contract in August. Likewise, preparations are on track to ensure the bids for the remaining 297 km of transmission lines are relaunched at the earliest possible date this year. As far as the the Roads Maintenance Project under the MCC is concerned, MCA-Nepal is preparing to launch the Full Depth Reclamation procurement in August, the statement added.</span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21430', 'image' => '20240731081245_Minister for EWRI Dipak Khadka addressing the New Damauli Substation Contract Signing Ceremony on 31 July 2024.jpg', 'article_date' => '2024-07-31 20:11:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21699', 'article_category_id' => '1', 'title' => 'Sugar Shortage Likely During Dashain and Tihar', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prashant Khadka</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022. The government has not yet started the process of importing sugar from India for this year's Dashain and Tihar festivals, which could lead to a significant price hike during the festive season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the private sector supplies sugar to the market, the government's limited supply helps prevent price hikes. With domestic production declining and India's export ban still in place, the risk of a price surge is imminent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Salt Trading Corporation reports a demand of about 30,000 to 35,000 metric tons of sugar during Dashain and Tihar. Currently, it has only about 2,200 metric tons in stock, purchased from local traders. Last year, the government did not initiate the import process in time, leading to long lines and price hike up to Rs 130 per kilo during the festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This year, the preparations appear similarly inadequate. The Salt Trading Corporation and Nepal Food Corporation have requested permission to import 20,000 metric tons of sugar each, but the Ministry of Industry, Commerce, and Supplies has not received budget approval from the Ministry of Finance. Ten industries have permission to import 19,000 metric tons of from India, but the state-owned Salt Trading Corporation and the Nepal Food Corporation have yet to secure their quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce, and Supplies, Chandi Prasad Ghimire, indicated uncertainty about receiving additional quotas from India. Even if immediate approval is granted, the procurement process via international tenders will delay the arrival of sugar before Dashain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Domestic sugarcane production has decreased in recent years, increasing reliance on imports from India. Last year, Nepal produced 165,000 metric tons of sugar, down from about 200,000 metric tons a decade ago. Annual sugar consumption is around 250,000 metric tons. The Ministry of Agriculture and Livestock Development reports a decrease in sugarcane cultivation by 1,521 hectares and a production drop of 53,834 metric tons over the last three years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the decline in sugarcane and sugar production, Nepal's dependence on Indian imports has grown. Given India's continued export ban, a price increase during Dashain and Tihar is likely.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumar Rajbhandari, spokesperson for the Salt Trading Corporation, warns that a situation similar to last year might repeat if the process of importing sugar is delayed. The government sells sugar at concessional rates during festivals to curb black market activity and high prices. However, it takes about three months to import sugar via global tender, and Dashain is only two and a half months away. Thus, it is unlikely that subsidized sugar will arrive in time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amulkaji Tuladhar, general secretary of the Retail Trade Association, predicts that without timely arrival of concessional sugar, prices could spiral out of control, leading to increased black market activity and shortages. Currently, sugar costs Rs 110 per kilo, but this could rise significantly if the government fails to act soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21429', 'image' => '20240731020703_sugar.jpg', 'article_date' => '2024-07-31 14:06:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21702', 'article_category_id' => '1', 'title' => 'World Bank Sanctions Rs 4 Billion for Prime Minister's Employment Program', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Labour, Employment and Social Security and the Ministry of Finance had requested the World Bank to extend the project. Shobha Kumari Pokharel, under secretary of the Prime Minister's Employment Program Secretariat, confirmed that the World Bank has agreed to give continuity to the program for another year, extending it until July 15, 2025.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This program has been operational since the FY 2018/19, supported by a World Bank loan of $120 million (equivalent to Rs 16.11 billion at the current exchange rate). However, as the government was not able to utilize the entire budget in the initial 4-year timeframe, the government requested more time to spend the remaining funds.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel mentioned that the funds are now available for use in the current fiscal year. The budget will primarily be used as wages for job creation, facilitating training as per labor market demands, and providing workplace-based skill development training to registered individuals. The goal is to offer 50 days of work and 50 days of training to equip participants with skills for future employment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Approximately 796,000 individuals applied for jobs when the application process opened last February. However, the Prime Minister's Employment Program Secretariat indicated that only 52,000 people will be provided employment this year. Last year, 64,000 individuals were employed out of the targeted 60,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel pointed out that the reduced budget allocation of Rs 2.4 billion this year, down from Rs 2.38 billion last year, will make it challenging to create more jobs. The program, initiated by the government led by KP Sharma Oli in FY 2018/19, has faced criticism for utilizing substantial funds on petty tasks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In its first year, the program was accused of spending billions of state funds on unproductive activities such as chasing monkeys, uprooting weeds, and driving cattle away. In response to these criticisms, the government announced plans to restructure the program in the previous year's budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Budget introduced by Former Finance Minister Dr. Prakash Sharan Mahat emphasized the need for modifications to create productive employment and improve labor market outcomes. The plan included providing minimum employment with workplace-based training for labor-intensive work at the local level and upgrading employment service centers to offer comprehensive services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although a committee was formed to restructure the program and a report was submitted, it has yet to be implemented. The current budget has allocated funds to the Prime Minister's Employment Program to provide employment to approximately 200,000 people for a minimum of 100 days in public construction and maintenance projects. However, there is no mention of program restructuring in the budget statement, leading to increased confusion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel stated that while the task force has prepared a restructuring report, it is not feasible to implement the changes this year. The necessary preparations for restructuring should be completed this year and carried out from next year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The effectiveness of the Prime Minister's Employment Program has been repeatedly questioned, putting pressure on the government to restructure it. A recent report prepared by the Office of the Auditor General highlighted that the program's sustainability has not been effective, with a focus on small infrastructure projects like road and cleaning drains, school playgrounds, and off-roads. The report suggests that the program should be conducted in partnership with local levels to ensure cost-sharing and ownership.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21428', 'image' => '20240731042825_blank eight by six.jpg', 'article_date' => '2024-07-31 16:27:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21703', 'article_category_id' => '1', 'title' => '31 YouTube Channels Face Action from Press Council Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.<br /> In a press statement released on Tuesday, the Council revealed it had targeted both registered and non-registered media channels. The actions were in response to content that instigated conflict, defamed individuals, or presented one-sided information.<br /> The Council has directed three specific YouTube channels—Hello TV Nepal Facebook Page, PNP Media, and Nagarik Patra—to edit or remove content that violates the code, suspend unfavorable material, and provide clarifications within 24 hours. Immediate removal of obscene content was also mandated.<br /> Additionally, the Council has requested Nepal Police's Cyber Bureau to investigate 28 YouTube channels, not officially recognized as media, that have been spreading obscene content styled as legitimate media.<br /> The Press Council Nepal had previously penalized a total of 43 YouTubers in the last fiscal year, 2023/24. According to the statement, the Council is actively monitoring social media content to prevent the spread of conflict-inducing, violent, and abusive material.<br /> Council President Bal Krishna Basnet emphasized that penalties were imposed based on new standards and guidelines. He urged for a constructive use of social media to enhance the media sector rather than exploit it. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21427', 'image' => '20240731074741_YouTube-Logo-.jpg', 'article_date' => '2024-07-31 19:47:06', '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' => '21717', 'article_category_id' => '1', 'title' => 'South Korea Union Pickets Outside Samsung Chairman's House', '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"">SEOUL, August 1</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"">Leaders of a South Korean union representing tens of thousands of workers at Samsung Electronics staged a protest Thursday outside the house of the company's chairman and heir, after fresh negotiations failed.</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"">Thousands of union members stopped working on July 8 for what was initially meant to be a three-day strike, part of a long-running battle over pay and benefits. The union subsequently extended the work stoppage "indefinitely".</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 unclear exactly how many workers have downed tools, and Samsung has said the action is not affecting production, posting record growth and profits earlier this week for the second quarter.</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"">"If a delay occurs in semiconductor processing, the effects won't be immediate. It takes weeks or months," Lee Hyun-kuk, vice president of the National Samsung Electronics Union (NSEU), told AFP.</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 union engaged in eleventh-hour talks with management for three days, until Wednesday, but has failed to reach an agreement.</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"">Union executives gathered on Thursday outside Samsung Chairman Lee Jae-yong's house, holding pickets that read "Samsung Electronics' strike, Lee Jae-yong should be accountable".</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"">Another displayed a picture of Lee holding a finger to his mouth with the caption, "Shh! Labour union, what's that? Samsung strike, what's that?"</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 handful of police were deployed at the premises and the protest was interrupted by the police warning the union they were not allowed to chant.</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"">"In the 25 days since the strike began, all Lee has done is attend the wedding of the son of Asia's richest man and give out Samsung phones to Olympic athletes that are worth over 30 billion won ($22 million)," union member Kim Jae-won told reporters.</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"">Lee was a guest at the wedding of Indian billionaire Mukesh Ambani's youngest son Anant in July.</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"">Last week he attended a banquet co-hosted by French President Emmanuel Macron and International Olympic Committee President Thomas Bach at the Louvre Museum.</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 union claimed that the company was trying to break the strike with illegal means, including creating a "blacklist" of strike participants.</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"">"We will publicise all of this," Son Woo-mok, head of NSEU, told AFP. "Labour suppression, unfair labour practices, industrial accidents, the list continues."</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"">Samsung said Wednesday it was "communicating and discussing to ensure that this labour union strike ends early", adding there was "no problem with responding to our customer volume".</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 first labour union at Samsung Electronics was formed in the late 2010s.</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 National Samsung Electronics Union, which has around 36,000 members, or nearly a quarter of the company's total workforce, claims labour organising remains taboo at the company.</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"">Two years ago, the union staged a demonstration in front of Lee's residence, successfully securing three additional holidays.</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"">In 2020, former Samsung employees faced criticism for their unorthodox protest methods, which included grilling pork belly, drinking soju, and strumming guitars outside Lee's home. -- AFP/RSS</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21442', 'image' => '20240802095930_69611783_1004.jpg', 'article_date' => '2024-08-02 09:56:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21715', 'article_category_id' => '1', 'title' => 'IPPAN Urges Not to Halt Public Issuance Process', 'sub_title' => '', 'summary' => 'The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 2: The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN made this appeal in a press release issued on Thursday. Noting that there has been an attempt to financially undermine hydropower companies, IPPAN expressed its serious concern over the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The issuance of rights shares and IPOs of more than 32 hydropower companies worth over Rs 16 billion have been halted for the past six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The delay in appointment of the chairman of the Securities Board of Nepal (SEBON) is deliberate effort to financially destabilize hydropower companies,” said the press statement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The press statement accused certain groups of intentionally obstructing the appointment process for SEBON's chairman to serve their commercial interests, effectively holding the entire hydropower sector hostage.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN further alleged that SEBON has been concealing its past decisions related to the hydropower sector and is attempting to damage the reputation of the sector's entrepreneurs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">IPPAN also addressed recent media reports concerning the sale of founder/promoter shares, which claimed that the lock-in period for these shares in hydropower projects had been extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The association dismissed these reports as misleading and aimed at tarnishing the reputation of the hydropower sector.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN emphasized the need for clarity and transparency to protect the interests of the sector and its stakeholders.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21441', 'image' => '20240802055845_collage (86).jpg', 'article_date' => '2024-08-02 05:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21714', 'article_category_id' => '1', 'title' => 'Floods in Kathmandu Inundate Fruits and Vegetable Markets', 'sub_title' => 'Traders estimate a damage of over Rs 50 million in Balkhu and Rs 6.5 million in Kuleshwar. ', 'summary' => 'The flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. ', '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"">PRASHANT KHADKA</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"">KATHMANDU, August 1</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 flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. </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 450 stalls, it is considered one of the largest vegetable markets in the Kathmandu Valley.</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 estimated that there has been a loss of more than Rs 50 million,” Mohan Kumar Basnet, director of the market, told NBA. </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 Balkhu market supplies about 30% of the vegetables to the Kathmandu Valley.</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 Basnet, the flooded river started entering the market area around 1:45 am on Wednesday and took only 30 minutes to sweep away most of the food materials.</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"">“Two large trucks carrying vegetables and three smaller vehicles were also submerged, damaging their engines,” said Basnet. “The flood also caused damage to two generators, a car, seven motorcycles and two refrigerators.” </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"">Fruits and vegetables are brought at Balkhu from the hilly districts surrounding the Kathmandu Valley as well as from Terai. The produce is then supplied to a dozen smaller markets such as in Tukucha, Dhumbarahi and Kirtipur.</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"">Ram Kumar Siwakoti, who has been selling vegetables at the Balkhu market for about eight years, mentioned that the market is at high risk of flooding due to its proximity to the river. </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"">“Although the Bagmati floods inundate the market every year, this year's flood was unprecedented in its severity," said Siwakoti, claiming that the water level in the vegetable market has risen to as high as six feets. </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 around 70% of the food was swept away, the rest have been buried in mud.”</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 Basnet, Minister for Agriculture and Livestock Development Ramnath Adhikari, who visited the Balkhu market on Wednesday, has assured the vendors to appeal to the government for providing them compensation after receiving the details of destruction.</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 swollen river also caused damage worth around Rs 6.5 million at Kuleshwor Fruit Market where around 250 vendors operate.</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"">Purushottam Ghimire, treasurer at Nepal Fruits Wholesaler Association, said that the fruits stored to ripen were swept away by the flood.</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"">Following the flood, the market's turnover dipped by 90% on Wednesday. </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"">Business may be affected for a few more days as the market remains inundated.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21440', 'image' => '20240801071806_9e1cadda.jpeg', 'article_date' => '2024-08-01 19:16:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21713', 'article_category_id' => '1', 'title' => 'NRB Instructs Banks to Grant Loan Extension Facility for Contractors by Five Months', 'sub_title' => 'The central bank had announced the concession to contractors in its monetary policy', 'summary' => 'Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans. ', '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</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"">KATHMANDU, August 1</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"">Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans.</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"">For the implementation of its monetary policy, Nepal Rastra Bank (NRB) on Wednesday issued instructions to banks to extend the loan repayment deadline for contractors struggling under current circumstances by five months until mid-December this 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"">NRB has stipulated that interest accrued during this extension period will not be subject to further interest or penalties.</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"">However, the instructions specify that banks may impose penalty interest if the loan interest is not paid within the exemption 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"">The central bank had announced these concessions to contractors in its monetary policy.</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 National Statistics Office has already predicted that the construction sector would grow negatively by 2.07 percent in the last fiscal year 2023/24, 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"">Construction entrepreneurs have also been affected by delays in government payments, with over Rs 40 billion in arrears still outstanding for completed 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"">Both contractors and banks have been talking about the slowdown in the construction 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"">In addition, NRB has eased regulations regarding the blacklisting of construction entrepreneurs. According to the new guidelines, NRB has instructed that construction business organisations should not be blacklisted until mid-December 2024 solely due to dishonourable cheques.</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"">In line with the monetary policy announcement, NRB has also extended the deadline for implementing the working capital loan guidelines by one year. Banks will now have until mid-July 2025 to set limits on working capital loans in accordance with the guidelines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Flexible Provisions for Specialized Investment Funds</span></span></strong></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"">NRB has also introduced flexibility in the blacklisting provisions for specialised investment funds, such as private equity and venture capital. </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"">Small and medium enterprises with 50 percent or less share investment from domestic private equity and venture capital funds have been instructed not to be blacklisted solely because one company has been blacklisted.</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"">NRB Executive Director Guru Paudel said that those companies were exempted from blacklisting provisions to encourage specialised investment. </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 Securities Board of Nepal (SEBON) has been approving the operation of private equity and venture capital funds under the 'Specialized Investment Fund Regulations, 2075'. </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"">Till date, more than a dozen companies have received permission to operate these funds.</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 Chief Executive Officer of NRN Fund, Analraj Bhattarai, mentioned that this arrangement will encourage specialised investment institutions. Bhattarai said that since private equity and venture capital typically invest in multiple companies, blacklisting based on the status of a single company was problematic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21439', 'image' => '20240801033027_NRB new.jpg', 'article_date' => '2024-08-01 15:29:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21712', 'article_category_id' => '1', 'title' => 'Gold Price Surges to Rs 149,400 Per Tola ', 'sub_title' => 'The Precious Yellow Metal becomes Dearer by Rs 1,600 per Tola on Thursday', 'summary' => 'The price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. ', '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</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"">KATHMANDU, August 1</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 price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. </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 Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 147,800 per tola on Wednesday, is being traded at Rs 149,400 per tola on Thursday.</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 price of worked gold has surged to Rs 148,700 per tola from Rs 147,100 on Wednesday.</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 price of silver also went up in the domestic market by Rs 20 per tola on Thursday. Silver is currently being traded at Rs 1,800 per tola, up from Rs 1,780 per tola the previous day. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21438', 'image' => '20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-01 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21711', 'article_category_id' => '1', 'title' => 'Tourists’ Arrivals to Nepal Surge in July', 'sub_title' => 'A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last year', 'summary' => 'Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration show.', '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 1</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"">Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration 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"">A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last 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"">Most of the visitors were from the SAARC countries. According to the Department of Immigration, 27,212 or 42.1% of the visitors were from SAARC region with 21,491 from India alone.</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"">Nepal saw 11,901 visitors from other Asian countries including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand. </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 European tourists remained at 9,280 this July, followed by 7,864 Americans and 1,901 Australians who visited Nepal this July.</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 data show that foreign visitors from SAARC countries, other Asian countries, and Europe surged by 5.8%, 16.9% and 3.5%, respectively, this July. </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, 72.5% more Australians and 41.4% more Americans visited Nepal in the review period.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'tourists, arrival, Nepal, American, Chinese, Thailand, Myanmar, Japan, India, China', 'description' => '', 'sortorder' => '21437', 'image' => '20240801022351_20211211082422_Clipboard18.jpg', 'article_date' => '2024-08-01 14:22:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21710', 'article_category_id' => '1', 'title' => '59 Irrigation Projects Completed in Ilam with Investment of Rs 348.7 Million', 'sub_title' => '', 'summary' => 'ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. These projects, under the Small Irrigation Programme, have benefited over 2,100 households across the district.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The projects have improved irrigation facilities, bringing relief to local farmers. Ten projects were completed in Suryodaya Municipality, nine in Ilam Municipality, eight in Mangsebung Rural Municipality and seven in Mai Municipality, according to Keshav Lama, chief of the Small Irrigation Programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The construction of a canal with an investment of Rs 4 million in Gajurmukhi village of Mangsebung Rural Municipality has ended the compulsion to rely on rainwater for farming. Similarly, in Lapsibote of Maijogmai Rural Municipality, a project built with an investment of Rs 5 million is directly benefiting 58 households.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">These projects were developed through collaboration between the federal government, province government, local government, and the Swiss Government. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21436', 'image' => '20240801021518_breathtaking-view-of.jpg', 'article_date' => '2024-08-01 14:14:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21708', 'article_category_id' => '1', 'title' => 'Koshi Tappu Wildlife Reserve Collects Rs 4 Million in FY 2023/24', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. Assistant Conservation Officer of the wildlife reserve, Binaya Kumar Mishra, said the revenue was collected from the royalty of jungle safari, eco-tourism, penalty, elephant riding and other headings.<br /> The highest amount of revenue was collected from the tickets sold for the visitors there. The eastern belt of the wildlife reserve has become a key destination for academic excursions.<br /> The wildlife reserve charges Rs 750 in fees to the tourists from SAARC member states while visitors from other countries should pay Rs 1,500 to visit the site for 12 hours. </span></span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'Kosh, Tappu, wildlife, reserve, tourists, ticket, safari, SAARC', 'description' => '', 'sortorder' => '21434', 'image' => '20240801121518_koshi-tappu-wildli-life-reserve1505301650.jpg', 'article_date' => '2024-08-01 12:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21707', 'article_category_id' => '1', 'title' => 'Monsoon-Induced Disaster Death Toll Rises to 145', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Nepal Police Spokesperson and Deputy Inspector General of Police Dan Bahadur Karki, since the monsoon began on June 10, the casualties include two people in Kathmandu Valley, 24 in Koshi Province, six in Madhes, 29 in Bagmati, 42 in Gandaki, 24 in Lumbini, eight in Karnali, and 10 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During this period, 10 people were injured in Kathmandu Valley, 37 in Koshi, 10 in Madhes, nine in Bagmati, 34 in Gandaki, nine in Lumbini, 51 in Karnali, and 14 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Furthermore, three people were rescued in Kathmandu Valley, 49 in Koshi, 14 in Gandaki, two in Karnali, and five in Sudurpaschim Province. Police also reported that 47 people are missing in Koshi, 42 in Bagmati, two in Gandaki, and one in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A total of 184 houses have been submerged due to floods, while 248 houses, 88 sheds, 43 bridges, two schools, and two government offices have been damaged. Additionally, 672 cattle have perished in the disaster, and a total of 4,063 households have been displaced, said DIG Karki. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21433', 'image' => '20240801114325_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-08-01 11:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21706', 'article_category_id' => '1', 'title' => 'Night Rainfall to Continue till Friday', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. However, unlike the past three days, the upcoming days are expected to see an improvement in the weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rojan Lamichhane, a meteorologist at the division, stated that nighttime rain is expected from Wednesday through Friday, after which the weather will likely improve. The influence of monsoon winds remains active across the country, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The division also reported that the weather will remain partly to generally cloudy throughout the country today, August 1.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a weather bulletin on Thursday morning, the Weather Forecasting Division under the Department of Hydrology and Meteorology warned of heavy rainfall at one or two locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, with light to moderate rain accompanied by thunder and lightning expected in some areas of Koshi, Bagmati, Gandaki, Lumbini, Karnali, and Sudurpaschim provinces, as well as a few places in Madhes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Tonight, the weather is expected to remain partly to generally cloudy across the country, with light to moderate rain accompanied by thunder and lightning in a few locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, and at one or two locations in Madhes and Lumbini provinces. The division indicated that there is a likelihood of heavy rainfall at one or two locations in Koshi, Madhes, Bagmati, Gandaki, and Lumbini provinces tonight. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21432', 'image' => '20240801111319_rsain.jpeg', 'article_date' => '2024-08-01 11:12:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21705', 'article_category_id' => '1', 'title' => 'NOC Slashes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 31: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to a press release issued by the NOC on Wednesday, the price of petrol has been decreased by Rs 1 per litre, while diesel and kerosene oil have been reduced by Rs 2 per litre. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The price of aviation fuel remains unchanged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the new prices, petrol will cost Rs 167 per litre and diesel and kerosene oil Rs 155 per litre in Charali, Biratnagar, Janakpur, Amalekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In Surkhet and Dang, the price of petrol will be Rs 169 per litre, with diesel and kerosene oil priced at Rs 157 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Petrol will be sold at Rs 170 per litre in Pokhara, Kathmandu, and Dipayal, while diesel and kerosene oil will cost Rs 158 per litre. </span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21431', 'image' => '20240801055143_collage (85).jpg', 'article_date' => '2024-08-01 05:50:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '21704', 'article_category_id' => '1', 'title' => 'MCA-Nepal Completes Signing of All Three 400kV Substations', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district. According to the MCA-Nepal, which is responsible for implementing the projects under the grant assistance of the USA government’s Millennium Challenge Corporation (MCC), the estimated cost of constructing the substation is US$38.89 million and the contract was signed accordingly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this, MCA-Nepal has completed awarding contracts for the construction of all three 400 kV substations as part of implementing the Millennium Challenge Corporation (MCC) Nepal Compact, reads a statement issued by MCA-Nepal on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Once completed, the New Damauli Substation will have a capacity of 1000 Mega Volt Ampere, making it one of the largest substations in the country. The contract for the construction of the Ratmate Substation was signed with the same company in June 2024, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The MCA-Nepal further said that the New Damauli Substation will serve as a critical point of connection for power flow with the Ratmate, Lekhnath and New Butwal Substations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khadga Bahadur Bisht, executive director of MCA-Nepal, and Rajiv Agarwal, director (commercial) at TEECL, India signed and exchanged the contract on Wednesday. Minister for Energy, Water Resources and Irrigation Deepak Khadka, US Ambassador to Nepal Dean R. Thompson, MCA-Nepal board members, TEECL Managing Director Padam Prakash Gupta and officials from NEA along with MCC and MCA-Nepal officials were present on the occasion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event, Minister for Energy, Water Resources and Irrigation Dipak Khadka expressed his belief that the substations would significantly contribute in strengthening the electricity distribution system in Nepal and pave the way for economic prosperity. He also urged all stakeholders to strengthen efforts for the timely completion of the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr. Ram Prasad Ghimire, secretary at the Ministry of Finance, who is also the chair of the MCA-Nepal Board said, “The progress is a good indication of MCA-Nepal’s ongoing efforts to implement the MCC Nepal Compact. The three substations are essential to Nepal’s growing energy sector and will help ensure a reliable power sector to enhance industrial and commercial activities for the economic growth in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the event US Ambassador to Nepal, Thompson, acknowledged the important role each stakeholder played in the progress of this project and shaping a brighter future for Nepal. He further added, “The MCC Nepal Compact is going to be an important part of our shared success story, working with Nepal to power Nepali homes, power the Nepali economy, create jobs, and reduce poverty through inclusive and sustainable economic growth."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA-Nepal Executive Director Khadga Bahadur Bisht termed it a remarkable milestone to sign all three substation contracts while approaching the one-year anniversary of the launch of the Compact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I would like to acknowledge the support of the Government of Nepal and our key stakeholders – Ministry of Finance, the MCA Nepal Board, NEA and MCC for their continued support,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Along with the three substations, the MCC Nepal Compact will fund the construction of up to 315 km of transmission line from Lapsiphedi, Kathmandu to the Nepal-India border in Nawalparasi (Bardaghat Susta West) under the Electricity Transmission Project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA Nepal said that the bids for the 18 km cross-border transmission line have been received for evaluation. MCA-Nepal aims to award the contract in August. Likewise, preparations are on track to ensure the bids for the remaining 297 km of transmission lines are relaunched at the earliest possible date this year. As far as the the Roads Maintenance Project under the MCC is concerned, MCA-Nepal is preparing to launch the Full Depth Reclamation procurement in August, the statement added.</span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21430', 'image' => '20240731081245_Minister for EWRI Dipak Khadka addressing the New Damauli Substation Contract Signing Ceremony on 31 July 2024.jpg', 'article_date' => '2024-07-31 20:11:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21699', 'article_category_id' => '1', 'title' => 'Sugar Shortage Likely During Dashain and Tihar', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prashant Khadka</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022. The government has not yet started the process of importing sugar from India for this year's Dashain and Tihar festivals, which could lead to a significant price hike during the festive season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the private sector supplies sugar to the market, the government's limited supply helps prevent price hikes. With domestic production declining and India's export ban still in place, the risk of a price surge is imminent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Salt Trading Corporation reports a demand of about 30,000 to 35,000 metric tons of sugar during Dashain and Tihar. Currently, it has only about 2,200 metric tons in stock, purchased from local traders. Last year, the government did not initiate the import process in time, leading to long lines and price hike up to Rs 130 per kilo during the festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This year, the preparations appear similarly inadequate. The Salt Trading Corporation and Nepal Food Corporation have requested permission to import 20,000 metric tons of sugar each, but the Ministry of Industry, Commerce, and Supplies has not received budget approval from the Ministry of Finance. Ten industries have permission to import 19,000 metric tons of from India, but the state-owned Salt Trading Corporation and the Nepal Food Corporation have yet to secure their quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce, and Supplies, Chandi Prasad Ghimire, indicated uncertainty about receiving additional quotas from India. Even if immediate approval is granted, the procurement process via international tenders will delay the arrival of sugar before Dashain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Domestic sugarcane production has decreased in recent years, increasing reliance on imports from India. Last year, Nepal produced 165,000 metric tons of sugar, down from about 200,000 metric tons a decade ago. Annual sugar consumption is around 250,000 metric tons. The Ministry of Agriculture and Livestock Development reports a decrease in sugarcane cultivation by 1,521 hectares and a production drop of 53,834 metric tons over the last three years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the decline in sugarcane and sugar production, Nepal's dependence on Indian imports has grown. Given India's continued export ban, a price increase during Dashain and Tihar is likely.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumar Rajbhandari, spokesperson for the Salt Trading Corporation, warns that a situation similar to last year might repeat if the process of importing sugar is delayed. The government sells sugar at concessional rates during festivals to curb black market activity and high prices. However, it takes about three months to import sugar via global tender, and Dashain is only two and a half months away. Thus, it is unlikely that subsidized sugar will arrive in time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amulkaji Tuladhar, general secretary of the Retail Trade Association, predicts that without timely arrival of concessional sugar, prices could spiral out of control, leading to increased black market activity and shortages. Currently, sugar costs Rs 110 per kilo, but this could rise significantly if the government fails to act soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21429', 'image' => '20240731020703_sugar.jpg', 'article_date' => '2024-07-31 14:06:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21702', 'article_category_id' => '1', 'title' => 'World Bank Sanctions Rs 4 Billion for Prime Minister's Employment Program', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Labour, Employment and Social Security and the Ministry of Finance had requested the World Bank to extend the project. Shobha Kumari Pokharel, under secretary of the Prime Minister's Employment Program Secretariat, confirmed that the World Bank has agreed to give continuity to the program for another year, extending it until July 15, 2025.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This program has been operational since the FY 2018/19, supported by a World Bank loan of $120 million (equivalent to Rs 16.11 billion at the current exchange rate). However, as the government was not able to utilize the entire budget in the initial 4-year timeframe, the government requested more time to spend the remaining funds.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel mentioned that the funds are now available for use in the current fiscal year. The budget will primarily be used as wages for job creation, facilitating training as per labor market demands, and providing workplace-based skill development training to registered individuals. The goal is to offer 50 days of work and 50 days of training to equip participants with skills for future employment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Approximately 796,000 individuals applied for jobs when the application process opened last February. However, the Prime Minister's Employment Program Secretariat indicated that only 52,000 people will be provided employment this year. Last year, 64,000 individuals were employed out of the targeted 60,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel pointed out that the reduced budget allocation of Rs 2.4 billion this year, down from Rs 2.38 billion last year, will make it challenging to create more jobs. The program, initiated by the government led by KP Sharma Oli in FY 2018/19, has faced criticism for utilizing substantial funds on petty tasks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In its first year, the program was accused of spending billions of state funds on unproductive activities such as chasing monkeys, uprooting weeds, and driving cattle away. In response to these criticisms, the government announced plans to restructure the program in the previous year's budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Budget introduced by Former Finance Minister Dr. Prakash Sharan Mahat emphasized the need for modifications to create productive employment and improve labor market outcomes. The plan included providing minimum employment with workplace-based training for labor-intensive work at the local level and upgrading employment service centers to offer comprehensive services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although a committee was formed to restructure the program and a report was submitted, it has yet to be implemented. The current budget has allocated funds to the Prime Minister's Employment Program to provide employment to approximately 200,000 people for a minimum of 100 days in public construction and maintenance projects. However, there is no mention of program restructuring in the budget statement, leading to increased confusion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel stated that while the task force has prepared a restructuring report, it is not feasible to implement the changes this year. The necessary preparations for restructuring should be completed this year and carried out from next year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The effectiveness of the Prime Minister's Employment Program has been repeatedly questioned, putting pressure on the government to restructure it. A recent report prepared by the Office of the Auditor General highlighted that the program's sustainability has not been effective, with a focus on small infrastructure projects like road and cleaning drains, school playgrounds, and off-roads. The report suggests that the program should be conducted in partnership with local levels to ensure cost-sharing and ownership.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21428', 'image' => '20240731042825_blank eight by six.jpg', 'article_date' => '2024-07-31 16:27:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21703', 'article_category_id' => '1', 'title' => '31 YouTube Channels Face Action from Press Council Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.<br /> In a press statement released on Tuesday, the Council revealed it had targeted both registered and non-registered media channels. The actions were in response to content that instigated conflict, defamed individuals, or presented one-sided information.<br /> The Council has directed three specific YouTube channels—Hello TV Nepal Facebook Page, PNP Media, and Nagarik Patra—to edit or remove content that violates the code, suspend unfavorable material, and provide clarifications within 24 hours. Immediate removal of obscene content was also mandated.<br /> Additionally, the Council has requested Nepal Police's Cyber Bureau to investigate 28 YouTube channels, not officially recognized as media, that have been spreading obscene content styled as legitimate media.<br /> The Press Council Nepal had previously penalized a total of 43 YouTubers in the last fiscal year, 2023/24. According to the statement, the Council is actively monitoring social media content to prevent the spread of conflict-inducing, violent, and abusive material.<br /> Council President Bal Krishna Basnet emphasized that penalties were imposed based on new standards and guidelines. He urged for a constructive use of social media to enhance the media sector rather than exploit it. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21427', 'image' => '20240731074741_YouTube-Logo-.jpg', 'article_date' => '2024-07-31 19:47:06', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21717', 'article_category_id' => '1', 'title' => 'South Korea Union Pickets Outside Samsung Chairman's House', '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"">SEOUL, August 1</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"">Leaders of a South Korean union representing tens of thousands of workers at Samsung Electronics staged a protest Thursday outside the house of the company's chairman and heir, after fresh negotiations failed.</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"">Thousands of union members stopped working on July 8 for what was initially meant to be a three-day strike, part of a long-running battle over pay and benefits. The union subsequently extended the work stoppage "indefinitely".</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 unclear exactly how many workers have downed tools, and Samsung has said the action is not affecting production, posting record growth and profits earlier this week for the second quarter.</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"">"If a delay occurs in semiconductor processing, the effects won't be immediate. It takes weeks or months," Lee Hyun-kuk, vice president of the National Samsung Electronics Union (NSEU), told AFP.</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 union engaged in eleventh-hour talks with management for three days, until Wednesday, but has failed to reach an agreement.</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"">Union executives gathered on Thursday outside Samsung Chairman Lee Jae-yong's house, holding pickets that read "Samsung Electronics' strike, Lee Jae-yong should be accountable".</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"">Another displayed a picture of Lee holding a finger to his mouth with the caption, "Shh! Labour union, what's that? Samsung strike, what's that?"</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 handful of police were deployed at the premises and the protest was interrupted by the police warning the union they were not allowed to chant.</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"">"In the 25 days since the strike began, all Lee has done is attend the wedding of the son of Asia's richest man and give out Samsung phones to Olympic athletes that are worth over 30 billion won ($22 million)," union member Kim Jae-won told reporters.</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"">Lee was a guest at the wedding of Indian billionaire Mukesh Ambani's youngest son Anant in July.</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"">Last week he attended a banquet co-hosted by French President Emmanuel Macron and International Olympic Committee President Thomas Bach at the Louvre Museum.</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 union claimed that the company was trying to break the strike with illegal means, including creating a "blacklist" of strike participants.</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"">"We will publicise all of this," Son Woo-mok, head of NSEU, told AFP. "Labour suppression, unfair labour practices, industrial accidents, the list continues."</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"">Samsung said Wednesday it was "communicating and discussing to ensure that this labour union strike ends early", adding there was "no problem with responding to our customer volume".</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 first labour union at Samsung Electronics was formed in the late 2010s.</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 National Samsung Electronics Union, which has around 36,000 members, or nearly a quarter of the company's total workforce, claims labour organising remains taboo at the company.</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"">Two years ago, the union staged a demonstration in front of Lee's residence, successfully securing three additional holidays.</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"">In 2020, former Samsung employees faced criticism for their unorthodox protest methods, which included grilling pork belly, drinking soju, and strumming guitars outside Lee's home. -- AFP/RSS</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21442', 'image' => '20240802095930_69611783_1004.jpg', 'article_date' => '2024-08-02 09:56:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21715', 'article_category_id' => '1', 'title' => 'IPPAN Urges Not to Halt Public Issuance Process', 'sub_title' => '', 'summary' => 'The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 2: The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN made this appeal in a press release issued on Thursday. Noting that there has been an attempt to financially undermine hydropower companies, IPPAN expressed its serious concern over the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The issuance of rights shares and IPOs of more than 32 hydropower companies worth over Rs 16 billion have been halted for the past six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The delay in appointment of the chairman of the Securities Board of Nepal (SEBON) is deliberate effort to financially destabilize hydropower companies,” said the press statement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The press statement accused certain groups of intentionally obstructing the appointment process for SEBON's chairman to serve their commercial interests, effectively holding the entire hydropower sector hostage.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN further alleged that SEBON has been concealing its past decisions related to the hydropower sector and is attempting to damage the reputation of the sector's entrepreneurs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">IPPAN also addressed recent media reports concerning the sale of founder/promoter shares, which claimed that the lock-in period for these shares in hydropower projects had been extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The association dismissed these reports as misleading and aimed at tarnishing the reputation of the hydropower sector.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN emphasized the need for clarity and transparency to protect the interests of the sector and its stakeholders.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21441', 'image' => '20240802055845_collage (86).jpg', 'article_date' => '2024-08-02 05:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21714', 'article_category_id' => '1', 'title' => 'Floods in Kathmandu Inundate Fruits and Vegetable Markets', 'sub_title' => 'Traders estimate a damage of over Rs 50 million in Balkhu and Rs 6.5 million in Kuleshwar. ', 'summary' => 'The flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. ', '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"">PRASHANT KHADKA</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"">KATHMANDU, August 1</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 flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. </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 450 stalls, it is considered one of the largest vegetable markets in the Kathmandu Valley.</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 estimated that there has been a loss of more than Rs 50 million,” Mohan Kumar Basnet, director of the market, told NBA. </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 Balkhu market supplies about 30% of the vegetables to the Kathmandu Valley.</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 Basnet, the flooded river started entering the market area around 1:45 am on Wednesday and took only 30 minutes to sweep away most of the food materials.</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"">“Two large trucks carrying vegetables and three smaller vehicles were also submerged, damaging their engines,” said Basnet. “The flood also caused damage to two generators, a car, seven motorcycles and two refrigerators.” </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"">Fruits and vegetables are brought at Balkhu from the hilly districts surrounding the Kathmandu Valley as well as from Terai. The produce is then supplied to a dozen smaller markets such as in Tukucha, Dhumbarahi and Kirtipur.</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"">Ram Kumar Siwakoti, who has been selling vegetables at the Balkhu market for about eight years, mentioned that the market is at high risk of flooding due to its proximity to the river. </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"">“Although the Bagmati floods inundate the market every year, this year's flood was unprecedented in its severity," said Siwakoti, claiming that the water level in the vegetable market has risen to as high as six feets. </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 around 70% of the food was swept away, the rest have been buried in mud.”</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 Basnet, Minister for Agriculture and Livestock Development Ramnath Adhikari, who visited the Balkhu market on Wednesday, has assured the vendors to appeal to the government for providing them compensation after receiving the details of destruction.</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 swollen river also caused damage worth around Rs 6.5 million at Kuleshwor Fruit Market where around 250 vendors operate.</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"">Purushottam Ghimire, treasurer at Nepal Fruits Wholesaler Association, said that the fruits stored to ripen were swept away by the flood.</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"">Following the flood, the market's turnover dipped by 90% on Wednesday. </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"">Business may be affected for a few more days as the market remains inundated.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21440', 'image' => '20240801071806_9e1cadda.jpeg', 'article_date' => '2024-08-01 19:16:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21713', 'article_category_id' => '1', 'title' => 'NRB Instructs Banks to Grant Loan Extension Facility for Contractors by Five Months', 'sub_title' => 'The central bank had announced the concession to contractors in its monetary policy', 'summary' => 'Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans. ', '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</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"">KATHMANDU, August 1</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"">Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans.</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"">For the implementation of its monetary policy, Nepal Rastra Bank (NRB) on Wednesday issued instructions to banks to extend the loan repayment deadline for contractors struggling under current circumstances by five months until mid-December this 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"">NRB has stipulated that interest accrued during this extension period will not be subject to further interest or penalties.</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"">However, the instructions specify that banks may impose penalty interest if the loan interest is not paid within the exemption 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"">The central bank had announced these concessions to contractors in its monetary policy.</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 National Statistics Office has already predicted that the construction sector would grow negatively by 2.07 percent in the last fiscal year 2023/24, 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"">Construction entrepreneurs have also been affected by delays in government payments, with over Rs 40 billion in arrears still outstanding for completed 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"">Both contractors and banks have been talking about the slowdown in the construction 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"">In addition, NRB has eased regulations regarding the blacklisting of construction entrepreneurs. According to the new guidelines, NRB has instructed that construction business organisations should not be blacklisted until mid-December 2024 solely due to dishonourable cheques.</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"">In line with the monetary policy announcement, NRB has also extended the deadline for implementing the working capital loan guidelines by one year. Banks will now have until mid-July 2025 to set limits on working capital loans in accordance with the guidelines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Flexible Provisions for Specialized Investment Funds</span></span></strong></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"">NRB has also introduced flexibility in the blacklisting provisions for specialised investment funds, such as private equity and venture capital. </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"">Small and medium enterprises with 50 percent or less share investment from domestic private equity and venture capital funds have been instructed not to be blacklisted solely because one company has been blacklisted.</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"">NRB Executive Director Guru Paudel said that those companies were exempted from blacklisting provisions to encourage specialised investment. </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 Securities Board of Nepal (SEBON) has been approving the operation of private equity and venture capital funds under the 'Specialized Investment Fund Regulations, 2075'. </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"">Till date, more than a dozen companies have received permission to operate these funds.</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 Chief Executive Officer of NRN Fund, Analraj Bhattarai, mentioned that this arrangement will encourage specialised investment institutions. Bhattarai said that since private equity and venture capital typically invest in multiple companies, blacklisting based on the status of a single company was problematic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21439', 'image' => '20240801033027_NRB new.jpg', 'article_date' => '2024-08-01 15:29:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21712', 'article_category_id' => '1', 'title' => 'Gold Price Surges to Rs 149,400 Per Tola ', 'sub_title' => 'The Precious Yellow Metal becomes Dearer by Rs 1,600 per Tola on Thursday', 'summary' => 'The price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. ', '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</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"">KATHMANDU, August 1</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 price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. </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 Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 147,800 per tola on Wednesday, is being traded at Rs 149,400 per tola on Thursday.</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 price of worked gold has surged to Rs 148,700 per tola from Rs 147,100 on Wednesday.</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 price of silver also went up in the domestic market by Rs 20 per tola on Thursday. Silver is currently being traded at Rs 1,800 per tola, up from Rs 1,780 per tola the previous day. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21438', 'image' => '20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-01 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21711', 'article_category_id' => '1', 'title' => 'Tourists’ Arrivals to Nepal Surge in July', 'sub_title' => 'A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last year', 'summary' => 'Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration show.', '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 1</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"">Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration 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"">A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last 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"">Most of the visitors were from the SAARC countries. According to the Department of Immigration, 27,212 or 42.1% of the visitors were from SAARC region with 21,491 from India alone.</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"">Nepal saw 11,901 visitors from other Asian countries including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand. </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 European tourists remained at 9,280 this July, followed by 7,864 Americans and 1,901 Australians who visited Nepal this July.</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 data show that foreign visitors from SAARC countries, other Asian countries, and Europe surged by 5.8%, 16.9% and 3.5%, respectively, this July. </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, 72.5% more Australians and 41.4% more Americans visited Nepal in the review period.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'tourists, arrival, Nepal, American, Chinese, Thailand, Myanmar, Japan, India, China', 'description' => '', 'sortorder' => '21437', 'image' => '20240801022351_20211211082422_Clipboard18.jpg', 'article_date' => '2024-08-01 14:22:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21710', 'article_category_id' => '1', 'title' => '59 Irrigation Projects Completed in Ilam with Investment of Rs 348.7 Million', 'sub_title' => '', 'summary' => 'ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. These projects, under the Small Irrigation Programme, have benefited over 2,100 households across the district.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The projects have improved irrigation facilities, bringing relief to local farmers. Ten projects were completed in Suryodaya Municipality, nine in Ilam Municipality, eight in Mangsebung Rural Municipality and seven in Mai Municipality, according to Keshav Lama, chief of the Small Irrigation Programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The construction of a canal with an investment of Rs 4 million in Gajurmukhi village of Mangsebung Rural Municipality has ended the compulsion to rely on rainwater for farming. Similarly, in Lapsibote of Maijogmai Rural Municipality, a project built with an investment of Rs 5 million is directly benefiting 58 households.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">These projects were developed through collaboration between the federal government, province government, local government, and the Swiss Government. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21436', 'image' => '20240801021518_breathtaking-view-of.jpg', 'article_date' => '2024-08-01 14:14:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21708', 'article_category_id' => '1', 'title' => 'Koshi Tappu Wildlife Reserve Collects Rs 4 Million in FY 2023/24', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. Assistant Conservation Officer of the wildlife reserve, Binaya Kumar Mishra, said the revenue was collected from the royalty of jungle safari, eco-tourism, penalty, elephant riding and other headings.<br /> The highest amount of revenue was collected from the tickets sold for the visitors there. The eastern belt of the wildlife reserve has become a key destination for academic excursions.<br /> The wildlife reserve charges Rs 750 in fees to the tourists from SAARC member states while visitors from other countries should pay Rs 1,500 to visit the site for 12 hours. </span></span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'Kosh, Tappu, wildlife, reserve, tourists, ticket, safari, SAARC', 'description' => '', 'sortorder' => '21434', 'image' => '20240801121518_koshi-tappu-wildli-life-reserve1505301650.jpg', 'article_date' => '2024-08-01 12:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21707', 'article_category_id' => '1', 'title' => 'Monsoon-Induced Disaster Death Toll Rises to 145', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Nepal Police Spokesperson and Deputy Inspector General of Police Dan Bahadur Karki, since the monsoon began on June 10, the casualties include two people in Kathmandu Valley, 24 in Koshi Province, six in Madhes, 29 in Bagmati, 42 in Gandaki, 24 in Lumbini, eight in Karnali, and 10 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During this period, 10 people were injured in Kathmandu Valley, 37 in Koshi, 10 in Madhes, nine in Bagmati, 34 in Gandaki, nine in Lumbini, 51 in Karnali, and 14 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Furthermore, three people were rescued in Kathmandu Valley, 49 in Koshi, 14 in Gandaki, two in Karnali, and five in Sudurpaschim Province. Police also reported that 47 people are missing in Koshi, 42 in Bagmati, two in Gandaki, and one in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A total of 184 houses have been submerged due to floods, while 248 houses, 88 sheds, 43 bridges, two schools, and two government offices have been damaged. Additionally, 672 cattle have perished in the disaster, and a total of 4,063 households have been displaced, said DIG Karki. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21433', 'image' => '20240801114325_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-08-01 11:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21706', 'article_category_id' => '1', 'title' => 'Night Rainfall to Continue till Friday', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. However, unlike the past three days, the upcoming days are expected to see an improvement in the weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rojan Lamichhane, a meteorologist at the division, stated that nighttime rain is expected from Wednesday through Friday, after which the weather will likely improve. The influence of monsoon winds remains active across the country, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The division also reported that the weather will remain partly to generally cloudy throughout the country today, August 1.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a weather bulletin on Thursday morning, the Weather Forecasting Division under the Department of Hydrology and Meteorology warned of heavy rainfall at one or two locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, with light to moderate rain accompanied by thunder and lightning expected in some areas of Koshi, Bagmati, Gandaki, Lumbini, Karnali, and Sudurpaschim provinces, as well as a few places in Madhes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Tonight, the weather is expected to remain partly to generally cloudy across the country, with light to moderate rain accompanied by thunder and lightning in a few locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, and at one or two locations in Madhes and Lumbini provinces. The division indicated that there is a likelihood of heavy rainfall at one or two locations in Koshi, Madhes, Bagmati, Gandaki, and Lumbini provinces tonight. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21432', 'image' => '20240801111319_rsain.jpeg', 'article_date' => '2024-08-01 11:12:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21705', 'article_category_id' => '1', 'title' => 'NOC Slashes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 31: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to a press release issued by the NOC on Wednesday, the price of petrol has been decreased by Rs 1 per litre, while diesel and kerosene oil have been reduced by Rs 2 per litre. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The price of aviation fuel remains unchanged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the new prices, petrol will cost Rs 167 per litre and diesel and kerosene oil Rs 155 per litre in Charali, Biratnagar, Janakpur, Amalekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In Surkhet and Dang, the price of petrol will be Rs 169 per litre, with diesel and kerosene oil priced at Rs 157 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Petrol will be sold at Rs 170 per litre in Pokhara, Kathmandu, and Dipayal, while diesel and kerosene oil will cost Rs 158 per litre. </span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21431', 'image' => '20240801055143_collage (85).jpg', 'article_date' => '2024-08-01 05:50:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '21704', 'article_category_id' => '1', 'title' => 'MCA-Nepal Completes Signing of All Three 400kV Substations', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district. According to the MCA-Nepal, which is responsible for implementing the projects under the grant assistance of the USA government’s Millennium Challenge Corporation (MCC), the estimated cost of constructing the substation is US$38.89 million and the contract was signed accordingly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this, MCA-Nepal has completed awarding contracts for the construction of all three 400 kV substations as part of implementing the Millennium Challenge Corporation (MCC) Nepal Compact, reads a statement issued by MCA-Nepal on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Once completed, the New Damauli Substation will have a capacity of 1000 Mega Volt Ampere, making it one of the largest substations in the country. The contract for the construction of the Ratmate Substation was signed with the same company in June 2024, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The MCA-Nepal further said that the New Damauli Substation will serve as a critical point of connection for power flow with the Ratmate, Lekhnath and New Butwal Substations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khadga Bahadur Bisht, executive director of MCA-Nepal, and Rajiv Agarwal, director (commercial) at TEECL, India signed and exchanged the contract on Wednesday. Minister for Energy, Water Resources and Irrigation Deepak Khadka, US Ambassador to Nepal Dean R. Thompson, MCA-Nepal board members, TEECL Managing Director Padam Prakash Gupta and officials from NEA along with MCC and MCA-Nepal officials were present on the occasion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event, Minister for Energy, Water Resources and Irrigation Dipak Khadka expressed his belief that the substations would significantly contribute in strengthening the electricity distribution system in Nepal and pave the way for economic prosperity. He also urged all stakeholders to strengthen efforts for the timely completion of the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr. Ram Prasad Ghimire, secretary at the Ministry of Finance, who is also the chair of the MCA-Nepal Board said, “The progress is a good indication of MCA-Nepal’s ongoing efforts to implement the MCC Nepal Compact. The three substations are essential to Nepal’s growing energy sector and will help ensure a reliable power sector to enhance industrial and commercial activities for the economic growth in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the event US Ambassador to Nepal, Thompson, acknowledged the important role each stakeholder played in the progress of this project and shaping a brighter future for Nepal. He further added, “The MCC Nepal Compact is going to be an important part of our shared success story, working with Nepal to power Nepali homes, power the Nepali economy, create jobs, and reduce poverty through inclusive and sustainable economic growth."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA-Nepal Executive Director Khadga Bahadur Bisht termed it a remarkable milestone to sign all three substation contracts while approaching the one-year anniversary of the launch of the Compact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I would like to acknowledge the support of the Government of Nepal and our key stakeholders – Ministry of Finance, the MCA Nepal Board, NEA and MCC for their continued support,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Along with the three substations, the MCC Nepal Compact will fund the construction of up to 315 km of transmission line from Lapsiphedi, Kathmandu to the Nepal-India border in Nawalparasi (Bardaghat Susta West) under the Electricity Transmission Project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA Nepal said that the bids for the 18 km cross-border transmission line have been received for evaluation. MCA-Nepal aims to award the contract in August. Likewise, preparations are on track to ensure the bids for the remaining 297 km of transmission lines are relaunched at the earliest possible date this year. As far as the the Roads Maintenance Project under the MCC is concerned, MCA-Nepal is preparing to launch the Full Depth Reclamation procurement in August, the statement added.</span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21430', 'image' => '20240731081245_Minister for EWRI Dipak Khadka addressing the New Damauli Substation Contract Signing Ceremony on 31 July 2024.jpg', 'article_date' => '2024-07-31 20:11:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21699', 'article_category_id' => '1', 'title' => 'Sugar Shortage Likely During Dashain and Tihar', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prashant Khadka</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022. The government has not yet started the process of importing sugar from India for this year's Dashain and Tihar festivals, which could lead to a significant price hike during the festive season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the private sector supplies sugar to the market, the government's limited supply helps prevent price hikes. With domestic production declining and India's export ban still in place, the risk of a price surge is imminent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Salt Trading Corporation reports a demand of about 30,000 to 35,000 metric tons of sugar during Dashain and Tihar. Currently, it has only about 2,200 metric tons in stock, purchased from local traders. Last year, the government did not initiate the import process in time, leading to long lines and price hike up to Rs 130 per kilo during the festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This year, the preparations appear similarly inadequate. The Salt Trading Corporation and Nepal Food Corporation have requested permission to import 20,000 metric tons of sugar each, but the Ministry of Industry, Commerce, and Supplies has not received budget approval from the Ministry of Finance. Ten industries have permission to import 19,000 metric tons of from India, but the state-owned Salt Trading Corporation and the Nepal Food Corporation have yet to secure their quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce, and Supplies, Chandi Prasad Ghimire, indicated uncertainty about receiving additional quotas from India. Even if immediate approval is granted, the procurement process via international tenders will delay the arrival of sugar before Dashain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Domestic sugarcane production has decreased in recent years, increasing reliance on imports from India. Last year, Nepal produced 165,000 metric tons of sugar, down from about 200,000 metric tons a decade ago. Annual sugar consumption is around 250,000 metric tons. The Ministry of Agriculture and Livestock Development reports a decrease in sugarcane cultivation by 1,521 hectares and a production drop of 53,834 metric tons over the last three years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the decline in sugarcane and sugar production, Nepal's dependence on Indian imports has grown. Given India's continued export ban, a price increase during Dashain and Tihar is likely.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumar Rajbhandari, spokesperson for the Salt Trading Corporation, warns that a situation similar to last year might repeat if the process of importing sugar is delayed. The government sells sugar at concessional rates during festivals to curb black market activity and high prices. However, it takes about three months to import sugar via global tender, and Dashain is only two and a half months away. Thus, it is unlikely that subsidized sugar will arrive in time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amulkaji Tuladhar, general secretary of the Retail Trade Association, predicts that without timely arrival of concessional sugar, prices could spiral out of control, leading to increased black market activity and shortages. Currently, sugar costs Rs 110 per kilo, but this could rise significantly if the government fails to act soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21429', 'image' => '20240731020703_sugar.jpg', 'article_date' => '2024-07-31 14:06:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21702', 'article_category_id' => '1', 'title' => 'World Bank Sanctions Rs 4 Billion for Prime Minister's Employment Program', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Labour, Employment and Social Security and the Ministry of Finance had requested the World Bank to extend the project. Shobha Kumari Pokharel, under secretary of the Prime Minister's Employment Program Secretariat, confirmed that the World Bank has agreed to give continuity to the program for another year, extending it until July 15, 2025.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This program has been operational since the FY 2018/19, supported by a World Bank loan of $120 million (equivalent to Rs 16.11 billion at the current exchange rate). However, as the government was not able to utilize the entire budget in the initial 4-year timeframe, the government requested more time to spend the remaining funds.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel mentioned that the funds are now available for use in the current fiscal year. The budget will primarily be used as wages for job creation, facilitating training as per labor market demands, and providing workplace-based skill development training to registered individuals. The goal is to offer 50 days of work and 50 days of training to equip participants with skills for future employment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Approximately 796,000 individuals applied for jobs when the application process opened last February. However, the Prime Minister's Employment Program Secretariat indicated that only 52,000 people will be provided employment this year. Last year, 64,000 individuals were employed out of the targeted 60,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel pointed out that the reduced budget allocation of Rs 2.4 billion this year, down from Rs 2.38 billion last year, will make it challenging to create more jobs. The program, initiated by the government led by KP Sharma Oli in FY 2018/19, has faced criticism for utilizing substantial funds on petty tasks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In its first year, the program was accused of spending billions of state funds on unproductive activities such as chasing monkeys, uprooting weeds, and driving cattle away. In response to these criticisms, the government announced plans to restructure the program in the previous year's budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Budget introduced by Former Finance Minister Dr. Prakash Sharan Mahat emphasized the need for modifications to create productive employment and improve labor market outcomes. The plan included providing minimum employment with workplace-based training for labor-intensive work at the local level and upgrading employment service centers to offer comprehensive services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although a committee was formed to restructure the program and a report was submitted, it has yet to be implemented. The current budget has allocated funds to the Prime Minister's Employment Program to provide employment to approximately 200,000 people for a minimum of 100 days in public construction and maintenance projects. However, there is no mention of program restructuring in the budget statement, leading to increased confusion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel stated that while the task force has prepared a restructuring report, it is not feasible to implement the changes this year. The necessary preparations for restructuring should be completed this year and carried out from next year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The effectiveness of the Prime Minister's Employment Program has been repeatedly questioned, putting pressure on the government to restructure it. A recent report prepared by the Office of the Auditor General highlighted that the program's sustainability has not been effective, with a focus on small infrastructure projects like road and cleaning drains, school playgrounds, and off-roads. The report suggests that the program should be conducted in partnership with local levels to ensure cost-sharing and ownership.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21428', 'image' => '20240731042825_blank eight by six.jpg', 'article_date' => '2024-07-31 16:27:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21703', 'article_category_id' => '1', 'title' => '31 YouTube Channels Face Action from Press Council Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.<br /> In a press statement released on Tuesday, the Council revealed it had targeted both registered and non-registered media channels. The actions were in response to content that instigated conflict, defamed individuals, or presented one-sided information.<br /> The Council has directed three specific YouTube channels—Hello TV Nepal Facebook Page, PNP Media, and Nagarik Patra—to edit or remove content that violates the code, suspend unfavorable material, and provide clarifications within 24 hours. Immediate removal of obscene content was also mandated.<br /> Additionally, the Council has requested Nepal Police's Cyber Bureau to investigate 28 YouTube channels, not officially recognized as media, that have been spreading obscene content styled as legitimate media.<br /> The Press Council Nepal had previously penalized a total of 43 YouTubers in the last fiscal year, 2023/24. According to the statement, the Council is actively monitoring social media content to prevent the spread of conflict-inducing, violent, and abusive material.<br /> Council President Bal Krishna Basnet emphasized that penalties were imposed based on new standards and guidelines. He urged for a constructive use of social media to enhance the media sector rather than exploit it. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21427', 'image' => '20240731074741_YouTube-Logo-.jpg', 'article_date' => '2024-07-31 19:47:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21717', 'article_category_id' => '1', 'title' => 'South Korea Union Pickets Outside Samsung Chairman's House', '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"">SEOUL, August 1</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"">Leaders of a South Korean union representing tens of thousands of workers at Samsung Electronics staged a protest Thursday outside the house of the company's chairman and heir, after fresh negotiations failed.</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"">Thousands of union members stopped working on July 8 for what was initially meant to be a three-day strike, part of a long-running battle over pay and benefits. The union subsequently extended the work stoppage "indefinitely".</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 unclear exactly how many workers have downed tools, and Samsung has said the action is not affecting production, posting record growth and profits earlier this week for the second quarter.</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"">"If a delay occurs in semiconductor processing, the effects won't be immediate. It takes weeks or months," Lee Hyun-kuk, vice president of the National Samsung Electronics Union (NSEU), told AFP.</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 union engaged in eleventh-hour talks with management for three days, until Wednesday, but has failed to reach an agreement.</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"">Union executives gathered on Thursday outside Samsung Chairman Lee Jae-yong's house, holding pickets that read "Samsung Electronics' strike, Lee Jae-yong should be accountable".</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"">Another displayed a picture of Lee holding a finger to his mouth with the caption, "Shh! Labour union, what's that? Samsung strike, what's that?"</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 handful of police were deployed at the premises and the protest was interrupted by the police warning the union they were not allowed to chant.</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"">"In the 25 days since the strike began, all Lee has done is attend the wedding of the son of Asia's richest man and give out Samsung phones to Olympic athletes that are worth over 30 billion won ($22 million)," union member Kim Jae-won told reporters.</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"">Lee was a guest at the wedding of Indian billionaire Mukesh Ambani's youngest son Anant in July.</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"">Last week he attended a banquet co-hosted by French President Emmanuel Macron and International Olympic Committee President Thomas Bach at the Louvre Museum.</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 union claimed that the company was trying to break the strike with illegal means, including creating a "blacklist" of strike participants.</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"">"We will publicise all of this," Son Woo-mok, head of NSEU, told AFP. "Labour suppression, unfair labour practices, industrial accidents, the list continues."</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"">Samsung said Wednesday it was "communicating and discussing to ensure that this labour union strike ends early", adding there was "no problem with responding to our customer volume".</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 first labour union at Samsung Electronics was formed in the late 2010s.</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 National Samsung Electronics Union, which has around 36,000 members, or nearly a quarter of the company's total workforce, claims labour organising remains taboo at the company.</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"">Two years ago, the union staged a demonstration in front of Lee's residence, successfully securing three additional holidays.</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"">In 2020, former Samsung employees faced criticism for their unorthodox protest methods, which included grilling pork belly, drinking soju, and strumming guitars outside Lee's home. -- AFP/RSS</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21442', 'image' => '20240802095930_69611783_1004.jpg', 'article_date' => '2024-08-02 09:56:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21715', 'article_category_id' => '1', 'title' => 'IPPAN Urges Not to Halt Public Issuance Process', 'sub_title' => '', 'summary' => 'The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 2: The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN made this appeal in a press release issued on Thursday. Noting that there has been an attempt to financially undermine hydropower companies, IPPAN expressed its serious concern over the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The issuance of rights shares and IPOs of more than 32 hydropower companies worth over Rs 16 billion have been halted for the past six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The delay in appointment of the chairman of the Securities Board of Nepal (SEBON) is deliberate effort to financially destabilize hydropower companies,” said the press statement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The press statement accused certain groups of intentionally obstructing the appointment process for SEBON's chairman to serve their commercial interests, effectively holding the entire hydropower sector hostage.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN further alleged that SEBON has been concealing its past decisions related to the hydropower sector and is attempting to damage the reputation of the sector's entrepreneurs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">IPPAN also addressed recent media reports concerning the sale of founder/promoter shares, which claimed that the lock-in period for these shares in hydropower projects had been extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The association dismissed these reports as misleading and aimed at tarnishing the reputation of the hydropower sector.</span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> IPPAN emphasized the need for clarity and transparency to protect the interests of the sector and its stakeholders.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-02', 'modified' => '2024-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '21441', 'image' => '20240802055845_collage (86).jpg', 'article_date' => '2024-08-02 05:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '21714', 'article_category_id' => '1', 'title' => 'Floods in Kathmandu Inundate Fruits and Vegetable Markets', 'sub_title' => 'Traders estimate a damage of over Rs 50 million in Balkhu and Rs 6.5 million in Kuleshwar. ', 'summary' => 'The flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. ', '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"">PRASHANT KHADKA</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"">KATHMANDU, August 1</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 flooded Bagmati River following heavy rain on Tuesday has inundated the Balkhu Fruits and Vegetables Market in Kathmandu causing a huge financial damage, the vendors operating there said. </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 450 stalls, it is considered one of the largest vegetable markets in the Kathmandu Valley.</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 estimated that there has been a loss of more than Rs 50 million,” Mohan Kumar Basnet, director of the market, told NBA. </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 Balkhu market supplies about 30% of the vegetables to the Kathmandu Valley.</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 Basnet, the flooded river started entering the market area around 1:45 am on Wednesday and took only 30 minutes to sweep away most of the food materials.</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"">“Two large trucks carrying vegetables and three smaller vehicles were also submerged, damaging their engines,” said Basnet. “The flood also caused damage to two generators, a car, seven motorcycles and two refrigerators.” </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"">Fruits and vegetables are brought at Balkhu from the hilly districts surrounding the Kathmandu Valley as well as from Terai. The produce is then supplied to a dozen smaller markets such as in Tukucha, Dhumbarahi and Kirtipur.</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"">Ram Kumar Siwakoti, who has been selling vegetables at the Balkhu market for about eight years, mentioned that the market is at high risk of flooding due to its proximity to the river. </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"">“Although the Bagmati floods inundate the market every year, this year's flood was unprecedented in its severity," said Siwakoti, claiming that the water level in the vegetable market has risen to as high as six feets. </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 around 70% of the food was swept away, the rest have been buried in mud.”</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 Basnet, Minister for Agriculture and Livestock Development Ramnath Adhikari, who visited the Balkhu market on Wednesday, has assured the vendors to appeal to the government for providing them compensation after receiving the details of destruction.</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 swollen river also caused damage worth around Rs 6.5 million at Kuleshwor Fruit Market where around 250 vendors operate.</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"">Purushottam Ghimire, treasurer at Nepal Fruits Wholesaler Association, said that the fruits stored to ripen were swept away by the flood.</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"">Following the flood, the market's turnover dipped by 90% on Wednesday. </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"">Business may be affected for a few more days as the market remains inundated.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21440', 'image' => '20240801071806_9e1cadda.jpeg', 'article_date' => '2024-08-01 19:16:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21713', 'article_category_id' => '1', 'title' => 'NRB Instructs Banks to Grant Loan Extension Facility for Contractors by Five Months', 'sub_title' => 'The central bank had announced the concession to contractors in its monetary policy', 'summary' => 'Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans. ', '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</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"">KATHMANDU, August 1</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"">Construction entrepreneurs, who have been among the hardest hit by the economic slowdown, have been granted an additional five months to repay their bank loans.</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"">For the implementation of its monetary policy, Nepal Rastra Bank (NRB) on Wednesday issued instructions to banks to extend the loan repayment deadline for contractors struggling under current circumstances by five months until mid-December this 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"">NRB has stipulated that interest accrued during this extension period will not be subject to further interest or penalties.</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"">However, the instructions specify that banks may impose penalty interest if the loan interest is not paid within the exemption 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"">The central bank had announced these concessions to contractors in its monetary policy.</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 National Statistics Office has already predicted that the construction sector would grow negatively by 2.07 percent in the last fiscal year 2023/24, 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"">Construction entrepreneurs have also been affected by delays in government payments, with over Rs 40 billion in arrears still outstanding for completed 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"">Both contractors and banks have been talking about the slowdown in the construction 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"">In addition, NRB has eased regulations regarding the blacklisting of construction entrepreneurs. According to the new guidelines, NRB has instructed that construction business organisations should not be blacklisted until mid-December 2024 solely due to dishonourable cheques.</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"">In line with the monetary policy announcement, NRB has also extended the deadline for implementing the working capital loan guidelines by one year. Banks will now have until mid-July 2025 to set limits on working capital loans in accordance with the guidelines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Flexible Provisions for Specialized Investment Funds</span></span></strong></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"">NRB has also introduced flexibility in the blacklisting provisions for specialised investment funds, such as private equity and venture capital. </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"">Small and medium enterprises with 50 percent or less share investment from domestic private equity and venture capital funds have been instructed not to be blacklisted solely because one company has been blacklisted.</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"">NRB Executive Director Guru Paudel said that those companies were exempted from blacklisting provisions to encourage specialised investment. </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 Securities Board of Nepal (SEBON) has been approving the operation of private equity and venture capital funds under the 'Specialized Investment Fund Regulations, 2075'. </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"">Till date, more than a dozen companies have received permission to operate these funds.</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 Chief Executive Officer of NRN Fund, Analraj Bhattarai, mentioned that this arrangement will encourage specialised investment institutions. Bhattarai said that since private equity and venture capital typically invest in multiple companies, blacklisting based on the status of a single company was problematic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21439', 'image' => '20240801033027_NRB new.jpg', 'article_date' => '2024-08-01 15:29:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21712', 'article_category_id' => '1', 'title' => 'Gold Price Surges to Rs 149,400 Per Tola ', 'sub_title' => 'The Precious Yellow Metal becomes Dearer by Rs 1,600 per Tola on Thursday', 'summary' => 'The price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. ', '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</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"">KATHMANDU, August 1</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 price of gold surged by Rs 1,600 per tola in the domestic market on Thursday. </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 Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 147,800 per tola on Wednesday, is being traded at Rs 149,400 per tola on Thursday.</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 price of worked gold has surged to Rs 148,700 per tola from Rs 147,100 on Wednesday.</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 price of silver also went up in the domestic market by Rs 20 per tola on Thursday. Silver is currently being traded at Rs 1,800 per tola, up from Rs 1,780 per tola the previous day. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21438', 'image' => '20240801032633_cd5483b7.jpeg', 'article_date' => '2024-08-01 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21711', 'article_category_id' => '1', 'title' => 'Tourists’ Arrivals to Nepal Surge in July', 'sub_title' => 'A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last year', 'summary' => 'Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration show.', '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 1</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"">Arrival of tourists in Nepal surged by 11.9 percent in July this year compared to the corresponding month last year, data provided by the Department of Immigration 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"">A total of 64,599 international visitors came to Nepal in July this year compared to 57,726 visitors in the same month last 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"">Most of the visitors were from the SAARC countries. According to the Department of Immigration, 27,212 or 42.1% of the visitors were from SAARC region with 21,491 from India alone.</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"">Nepal saw 11,901 visitors from other Asian countries including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand. </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 European tourists remained at 9,280 this July, followed by 7,864 Americans and 1,901 Australians who visited Nepal this July.</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 data show that foreign visitors from SAARC countries, other Asian countries, and Europe surged by 5.8%, 16.9% and 3.5%, respectively, this July. </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, 72.5% more Australians and 41.4% more Americans visited Nepal in the review period.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'tourists, arrival, Nepal, American, Chinese, Thailand, Myanmar, Japan, India, China', 'description' => '', 'sortorder' => '21437', 'image' => '20240801022351_20211211082422_Clipboard18.jpg', 'article_date' => '2024-08-01 14:22:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21710', 'article_category_id' => '1', 'title' => '59 Irrigation Projects Completed in Ilam with Investment of Rs 348.7 Million', 'sub_title' => '', 'summary' => 'ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">ILAM, August 1: Ilam district saw the completion of 59 irrigation projects, funded with an investment of Rs 348.7 million, in the fiscal year 2023/24. These projects, under the Small Irrigation Programme, have benefited over 2,100 households across the district.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The projects have improved irrigation facilities, bringing relief to local farmers. Ten projects were completed in Suryodaya Municipality, nine in Ilam Municipality, eight in Mangsebung Rural Municipality and seven in Mai Municipality, according to Keshav Lama, chief of the Small Irrigation Programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The construction of a canal with an investment of Rs 4 million in Gajurmukhi village of Mangsebung Rural Municipality has ended the compulsion to rely on rainwater for farming. Similarly, in Lapsibote of Maijogmai Rural Municipality, a project built with an investment of Rs 5 million is directly benefiting 58 households.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">These projects were developed through collaboration between the federal government, province government, local government, and the Swiss Government. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21436', 'image' => '20240801021518_breathtaking-view-of.jpg', 'article_date' => '2024-08-01 14:14:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21708', 'article_category_id' => '1', 'title' => 'Koshi Tappu Wildlife Reserve Collects Rs 4 Million in FY 2023/24', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU, August 1: The Koshi Tappu Wildlife Reserve has reported revenue collection of Rs 4 million for the fiscal year 2023/24. Assistant Conservation Officer of the wildlife reserve, Binaya Kumar Mishra, said the revenue was collected from the royalty of jungle safari, eco-tourism, penalty, elephant riding and other headings.<br /> The highest amount of revenue was collected from the tickets sold for the visitors there. The eastern belt of the wildlife reserve has become a key destination for academic excursions.<br /> The wildlife reserve charges Rs 750 in fees to the tourists from SAARC member states while visitors from other countries should pay Rs 1,500 to visit the site for 12 hours. </span></span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => 'Kosh, Tappu, wildlife, reserve, tourists, ticket, safari, SAARC', 'description' => '', 'sortorder' => '21434', 'image' => '20240801121518_koshi-tappu-wildli-life-reserve1505301650.jpg', 'article_date' => '2024-08-01 12:14:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21707', 'article_category_id' => '1', 'title' => 'Monsoon-Induced Disaster Death Toll Rises to 145', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: A total of 145 people have lost their lives in floods and landslides triggered by monsoon rains across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Nepal Police Spokesperson and Deputy Inspector General of Police Dan Bahadur Karki, since the monsoon began on June 10, the casualties include two people in Kathmandu Valley, 24 in Koshi Province, six in Madhes, 29 in Bagmati, 42 in Gandaki, 24 in Lumbini, eight in Karnali, and 10 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During this period, 10 people were injured in Kathmandu Valley, 37 in Koshi, 10 in Madhes, nine in Bagmati, 34 in Gandaki, nine in Lumbini, 51 in Karnali, and 14 in Sudurpaschim Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Furthermore, three people were rescued in Kathmandu Valley, 49 in Koshi, 14 in Gandaki, two in Karnali, and five in Sudurpaschim Province. Police also reported that 47 people are missing in Koshi, 42 in Bagmati, two in Gandaki, and one in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A total of 184 houses have been submerged due to floods, while 248 houses, 88 sheds, 43 bridges, two schools, and two government offices have been damaged. Additionally, 672 cattle have perished in the disaster, and a total of 4,063 households have been displaced, said DIG Karki. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21433', 'image' => '20240801114325_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-08-01 11:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21706', 'article_category_id' => '1', 'title' => 'Night Rainfall to Continue till Friday', 'sub_title' => '', 'summary' => 'KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 1: The Weather Forecasting Division on Wednesday announced the possibility of rainfall in various parts of the country for the next three days, particularly during the night. However, unlike the past three days, the upcoming days are expected to see an improvement in the weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rojan Lamichhane, a meteorologist at the division, stated that nighttime rain is expected from Wednesday through Friday, after which the weather will likely improve. The influence of monsoon winds remains active across the country, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The division also reported that the weather will remain partly to generally cloudy throughout the country today, August 1.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a weather bulletin on Thursday morning, the Weather Forecasting Division under the Department of Hydrology and Meteorology warned of heavy rainfall at one or two locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, with light to moderate rain accompanied by thunder and lightning expected in some areas of Koshi, Bagmati, Gandaki, Lumbini, Karnali, and Sudurpaschim provinces, as well as a few places in Madhes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Tonight, the weather is expected to remain partly to generally cloudy across the country, with light to moderate rain accompanied by thunder and lightning in a few locations in Koshi, Bagmati, Gandaki, Karnali, and Sudurpaschim provinces, and at one or two locations in Madhes and Lumbini provinces. The division indicated that there is a likelihood of heavy rainfall at one or two locations in Koshi, Madhes, Bagmati, Gandaki, and Lumbini provinces tonight. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21432', 'image' => '20240801111319_rsain.jpeg', 'article_date' => '2024-08-01 11:12:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21705', 'article_category_id' => '1', 'title' => 'NOC Slashes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 31: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to a press release issued by the NOC on Wednesday, the price of petrol has been decreased by Rs 1 per litre, while diesel and kerosene oil have been reduced by Rs 2 per litre. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The price of aviation fuel remains unchanged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the new prices, petrol will cost Rs 167 per litre and diesel and kerosene oil Rs 155 per litre in Charali, Biratnagar, Janakpur, Amalekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In Surkhet and Dang, the price of petrol will be Rs 169 per litre, with diesel and kerosene oil priced at Rs 157 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Petrol will be sold at Rs 170 per litre in Pokhara, Kathmandu, and Dipayal, while diesel and kerosene oil will cost Rs 158 per litre. </span></span></p> ', 'published' => true, 'created' => '2024-08-01', 'modified' => '2024-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '21431', 'image' => '20240801055143_collage (85).jpg', 'article_date' => '2024-08-01 05:50:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '21704', 'article_category_id' => '1', 'title' => 'MCA-Nepal Completes Signing of All Three 400kV Substations', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: The MCA-Nepal on Wednesday announced the signing of a contract with Techno Electric and Engineering Company Ltd (TEECL) of India to construct a 400 kV substation in Damauli, Tanahun district. According to the MCA-Nepal, which is responsible for implementing the projects under the grant assistance of the USA government’s Millennium Challenge Corporation (MCC), the estimated cost of constructing the substation is US$38.89 million and the contract was signed accordingly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this, MCA-Nepal has completed awarding contracts for the construction of all three 400 kV substations as part of implementing the Millennium Challenge Corporation (MCC) Nepal Compact, reads a statement issued by MCA-Nepal on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Once completed, the New Damauli Substation will have a capacity of 1000 Mega Volt Ampere, making it one of the largest substations in the country. The contract for the construction of the Ratmate Substation was signed with the same company in June 2024, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The MCA-Nepal further said that the New Damauli Substation will serve as a critical point of connection for power flow with the Ratmate, Lekhnath and New Butwal Substations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khadga Bahadur Bisht, executive director of MCA-Nepal, and Rajiv Agarwal, director (commercial) at TEECL, India signed and exchanged the contract on Wednesday. Minister for Energy, Water Resources and Irrigation Deepak Khadka, US Ambassador to Nepal Dean R. Thompson, MCA-Nepal board members, TEECL Managing Director Padam Prakash Gupta and officials from NEA along with MCC and MCA-Nepal officials were present on the occasion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event, Minister for Energy, Water Resources and Irrigation Dipak Khadka expressed his belief that the substations would significantly contribute in strengthening the electricity distribution system in Nepal and pave the way for economic prosperity. He also urged all stakeholders to strengthen efforts for the timely completion of the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr. Ram Prasad Ghimire, secretary at the Ministry of Finance, who is also the chair of the MCA-Nepal Board said, “The progress is a good indication of MCA-Nepal’s ongoing efforts to implement the MCC Nepal Compact. The three substations are essential to Nepal’s growing energy sector and will help ensure a reliable power sector to enhance industrial and commercial activities for the economic growth in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the event US Ambassador to Nepal, Thompson, acknowledged the important role each stakeholder played in the progress of this project and shaping a brighter future for Nepal. He further added, “The MCC Nepal Compact is going to be an important part of our shared success story, working with Nepal to power Nepali homes, power the Nepali economy, create jobs, and reduce poverty through inclusive and sustainable economic growth."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA-Nepal Executive Director Khadga Bahadur Bisht termed it a remarkable milestone to sign all three substation contracts while approaching the one-year anniversary of the launch of the Compact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I would like to acknowledge the support of the Government of Nepal and our key stakeholders – Ministry of Finance, the MCA Nepal Board, NEA and MCC for their continued support,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Along with the three substations, the MCC Nepal Compact will fund the construction of up to 315 km of transmission line from Lapsiphedi, Kathmandu to the Nepal-India border in Nawalparasi (Bardaghat Susta West) under the Electricity Transmission Project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MCA Nepal said that the bids for the 18 km cross-border transmission line have been received for evaluation. MCA-Nepal aims to award the contract in August. Likewise, preparations are on track to ensure the bids for the remaining 297 km of transmission lines are relaunched at the earliest possible date this year. As far as the the Roads Maintenance Project under the MCC is concerned, MCA-Nepal is preparing to launch the Full Depth Reclamation procurement in August, the statement added.</span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21430', 'image' => '20240731081245_Minister for EWRI Dipak Khadka addressing the New Damauli Substation Contract Signing Ceremony on 31 July 2024.jpg', 'article_date' => '2024-07-31 20:11:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21699', 'article_category_id' => '1', 'title' => 'Sugar Shortage Likely During Dashain and Tihar', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prashant Khadka</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Nepal faces a looming sugar shortage, exacerbated by India's ongoing export ban implemented in June 2022. The government has not yet started the process of importing sugar from India for this year's Dashain and Tihar festivals, which could lead to a significant price hike during the festive season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the private sector supplies sugar to the market, the government's limited supply helps prevent price hikes. With domestic production declining and India's export ban still in place, the risk of a price surge is imminent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Salt Trading Corporation reports a demand of about 30,000 to 35,000 metric tons of sugar during Dashain and Tihar. Currently, it has only about 2,200 metric tons in stock, purchased from local traders. Last year, the government did not initiate the import process in time, leading to long lines and price hike up to Rs 130 per kilo during the festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This year, the preparations appear similarly inadequate. The Salt Trading Corporation and Nepal Food Corporation have requested permission to import 20,000 metric tons of sugar each, but the Ministry of Industry, Commerce, and Supplies has not received budget approval from the Ministry of Finance. Ten industries have permission to import 19,000 metric tons of from India, but the state-owned Salt Trading Corporation and the Nepal Food Corporation have yet to secure their quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce, and Supplies, Chandi Prasad Ghimire, indicated uncertainty about receiving additional quotas from India. Even if immediate approval is granted, the procurement process via international tenders will delay the arrival of sugar before Dashain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Domestic sugarcane production has decreased in recent years, increasing reliance on imports from India. Last year, Nepal produced 165,000 metric tons of sugar, down from about 200,000 metric tons a decade ago. Annual sugar consumption is around 250,000 metric tons. The Ministry of Agriculture and Livestock Development reports a decrease in sugarcane cultivation by 1,521 hectares and a production drop of 53,834 metric tons over the last three years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the decline in sugarcane and sugar production, Nepal's dependence on Indian imports has grown. Given India's continued export ban, a price increase during Dashain and Tihar is likely.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kumar Rajbhandari, spokesperson for the Salt Trading Corporation, warns that a situation similar to last year might repeat if the process of importing sugar is delayed. The government sells sugar at concessional rates during festivals to curb black market activity and high prices. However, it takes about three months to import sugar via global tender, and Dashain is only two and a half months away. Thus, it is unlikely that subsidized sugar will arrive in time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amulkaji Tuladhar, general secretary of the Retail Trade Association, predicts that without timely arrival of concessional sugar, prices could spiral out of control, leading to increased black market activity and shortages. Currently, sugar costs Rs 110 per kilo, but this could rise significantly if the government fails to act soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21429', 'image' => '20240731020703_sugar.jpg', 'article_date' => '2024-07-31 14:06:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21702', 'article_category_id' => '1', 'title' => 'World Bank Sanctions Rs 4 Billion for Prime Minister's Employment Program', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The government has announced that the World Bank has sanctioned Rs 4 billion for the Prime Minister's Employment Program, which was at risk of losing its unspent budget after the project’s term expired in June. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Labour, Employment and Social Security and the Ministry of Finance had requested the World Bank to extend the project. Shobha Kumari Pokharel, under secretary of the Prime Minister's Employment Program Secretariat, confirmed that the World Bank has agreed to give continuity to the program for another year, extending it until July 15, 2025.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This program has been operational since the FY 2018/19, supported by a World Bank loan of $120 million (equivalent to Rs 16.11 billion at the current exchange rate). However, as the government was not able to utilize the entire budget in the initial 4-year timeframe, the government requested more time to spend the remaining funds.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel mentioned that the funds are now available for use in the current fiscal year. The budget will primarily be used as wages for job creation, facilitating training as per labor market demands, and providing workplace-based skill development training to registered individuals. The goal is to offer 50 days of work and 50 days of training to equip participants with skills for future employment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Approximately 796,000 individuals applied for jobs when the application process opened last February. However, the Prime Minister's Employment Program Secretariat indicated that only 52,000 people will be provided employment this year. Last year, 64,000 individuals were employed out of the targeted 60,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel pointed out that the reduced budget allocation of Rs 2.4 billion this year, down from Rs 2.38 billion last year, will make it challenging to create more jobs. The program, initiated by the government led by KP Sharma Oli in FY 2018/19, has faced criticism for utilizing substantial funds on petty tasks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In its first year, the program was accused of spending billions of state funds on unproductive activities such as chasing monkeys, uprooting weeds, and driving cattle away. In response to these criticisms, the government announced plans to restructure the program in the previous year's budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Budget introduced by Former Finance Minister Dr. Prakash Sharan Mahat emphasized the need for modifications to create productive employment and improve labor market outcomes. The plan included providing minimum employment with workplace-based training for labor-intensive work at the local level and upgrading employment service centers to offer comprehensive services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although a committee was formed to restructure the program and a report was submitted, it has yet to be implemented. The current budget has allocated funds to the Prime Minister's Employment Program to provide employment to approximately 200,000 people for a minimum of 100 days in public construction and maintenance projects. However, there is no mention of program restructuring in the budget statement, leading to increased confusion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under Secretary Pokharel stated that while the task force has prepared a restructuring report, it is not feasible to implement the changes this year. The necessary preparations for restructuring should be completed this year and carried out from next year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The effectiveness of the Prime Minister's Employment Program has been repeatedly questioned, putting pressure on the government to restructure it. A recent report prepared by the Office of the Auditor General highlighted that the program's sustainability has not been effective, with a focus on small infrastructure projects like road and cleaning drains, school playgrounds, and off-roads. The report suggests that the program should be conducted in partnership with local levels to ensure cost-sharing and ownership.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21428', 'image' => '20240731042825_blank eight by six.jpg', 'article_date' => '2024-07-31 16:27:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21703', 'article_category_id' => '1', 'title' => '31 YouTube Channels Face Action from Press Council Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: The Press Council Nepal has taken action against 31 YouTubers, both individual and corporate, over the past 15 days for breaching the Journalist Code of Conduct.<br /> In a press statement released on Tuesday, the Council revealed it had targeted both registered and non-registered media channels. The actions were in response to content that instigated conflict, defamed individuals, or presented one-sided information.<br /> The Council has directed three specific YouTube channels—Hello TV Nepal Facebook Page, PNP Media, and Nagarik Patra—to edit or remove content that violates the code, suspend unfavorable material, and provide clarifications within 24 hours. Immediate removal of obscene content was also mandated.<br /> Additionally, the Council has requested Nepal Police's Cyber Bureau to investigate 28 YouTube channels, not officially recognized as media, that have been spreading obscene content styled as legitimate media.<br /> The Press Council Nepal had previously penalized a total of 43 YouTubers in the last fiscal year, 2023/24. According to the statement, the Council is actively monitoring social media content to prevent the spread of conflict-inducing, violent, and abusive material.<br /> Council President Bal Krishna Basnet emphasized that penalties were imposed based on new standards and guidelines. He urged for a constructive use of social media to enhance the media sector rather than exploit it. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21427', 'image' => '20240731074741_YouTube-Logo-.jpg', 'article_date' => '2024-07-31 19:47:06', '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
