Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6186',
			'article_category_id' => '1',
			'title' => 'Line of New Monetary Policy Ambiguous: Experts',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. However, the line mentioned in the monetary policy and the policy tools adopted for its implementation indicate otherwise. This has led experts to say that the new monetary policy is &lsquo;ambiguous&rsquo;.</strong></p>

<p><strong>NRB has projected an increase in the total domestic credit by 27.8 percent which will help to meet the targeted economic growth rate in FY2017/18.</strong></p>

<p><strong>&ldquo;The monetary policy has set the target to increase domestic credit in line with the budget announced by the government,&rdquo; states the policy, adding, &ldquo;The ceiling for lending in the private sector has been increased to 20 percent.&rdquo;</strong></p>

<p><strong>Experts argue that there is need of investment in private sector to meet the target of economic growth. However, the monetary policy has failed to take concrete measures to sort out two big challenges that have surfaced in the banking sector at present, according to the experts. </strong></p>

<p><strong>NRB in the monetary policy has dampened the expectations of many who have hoped that the central banking authority would take steps to ease the current difficulties in loan investments of BFIs. The central bank was expected to revise the </strong>core-capital-cum-deposit (CCD) ratio, cash reserve ratio (CRR) and statutory liquidity ratio (<em>SLR</em>) to ensure the adequacy of investible capital in the banking sector. But the new monetary policy has even scrapped the facilities that were provided by the mid-term review of the monetary policy of the current fiscal year.</p>

<p>Bankers say that if the current situation persists and the collection of deposits does not increase significantly, the new arrangement will further curtail the lending capacity of BFIs.&nbsp;</p>

<p>Stakeholders claim that instead of exploring possibilities of mobilising new sources, NRB has blocked the source of long-term loan investment by lowering the ceiling of deposit.</p>

<p>&ldquo;The new monetary policy has done nothing but deprived us from the source of loan investment that we had until now,&rdquo; said a CEO of a bank on condition of anonymity.</p>

<p>Confederation of Nepalese Industries (CNI) issued a press statement saying that the monetary policy failed to create a favorable environment to expand investment in the industrial sector.</p>

<p>Likewise, another challenge in meeting the target of economic growth is the high rate of interest. The wrong step taken by last year&rsquo;s monetary policy caused scarcity of investible capital resulting in the doubling of rate of interest within six months. Likewise, fluctuation in interest rate has been prevailing due to competition among BFIs to attract depositors.</p>

<p>In such situation, the central bank should have adopted proper measures to create stability in rate of interest to increase investible capital, according to the experts.</p>

<p><strong>In this regard, industrialists and bankers had been demanding revision in CCD ratio and lowering CRR. But instead of addressing these issues, the NRB took tough measures through the new monetary policy. </strong></p>

<p><strong>This indicates that the NRB is only interested in regulating and controlling the BFIs instead of solving the prevailing problems and the steps taken by the central bank won&rsquo;t be helpful to attract investors, create employment opportunities and meet the target of economic growth, argue experts.</strong></p>

<p><strong>The NRB has also been criticized for taking tough measures instead of adopting traditional means to control inflation. The monetary policy has a target to keep inflation below 7 percent in the upcoming FY. However, economists argue that price stability isn&rsquo;t possible without economic growth.&nbsp;</strong></p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5970',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '6184',
			'article_category_id' => '1',
			'title' => 'Personal Housing Loan Ceiling Up by Rs 5 million',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.',
			'content' => '<p>July 10: Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.</p>

<p>Previously, the limit was Rs 10 million but the new monetary policy of NRB has now been increased the ceiling to Rs &nbsp;15 million.</p>

<p>However, the central bank has tightened &nbsp;lending to real state in the Kathmandu Valley by lowering the loan to value (LTV) ratio.</p>

<p>The LTV ratio was previously 50 percent but has now been set at 40 percent in the Kathmandu valley. The previous ratio is still same for other regions though, claims NRB. The policy is expected to help to decentralize the development of various sectors.</p>

<p>The increase in loan ceiling and decrease in LTV will result in the increase in prices of commercial complexes, housings and apartments, claims Ashish Garg, coordinator of Nepal Land and Housing Developers&rsquo; Association.</p>

<p>The LTV ratio was 80 percent in the past and reducing it to 40 percent will further lead to decrease in construction of houses, which will affect housing industry as well, added Garg.</p>

<p>&nbsp;Despite the need to encourage decentralized development for the sake of implementation of federalism, the government has discouraged it, said Garg. Even if the ratio is decreased in the capitals of federal provinces, it should not be decreased in the Kathmandu valley, suggested Garg.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5969',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '6185',
			'article_category_id' => '1',
			'title' => 'Jebils Finance to issue 40% Right Shares',
			'sub_title' => '',
			'summary' => 'Jebils Finance has decided to further issue 40 percent right shares to its shareholders.',
			'content' => '<p>July 10: Jebils Finance has decided to further issue 40 percent right shares to its shareholders.</p>

<p>The Special General Meeting of the finance held on July 7 has approved the proposal to issue the right shares after issuance of already declared rights shares in the ratio of 1:1.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5968',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6183',
			'article_category_id' => '1',
			'title' => 'Transportation in Rukum Gets a Boost',
			'sub_title' => '',
			'summary' => 'The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.',
			'content' => '<p>July 10: The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.</p>

<p>According to transportation entrepreneurs of the district, Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Rukum Yatayat Pvt Ltd, Prafi Yatayat Pvt Ltd and Sanibheri Yatayat Committee operating in the district have made such huge investment.</p>

<p>Sisne Himal Bus and Mini Bus Entrepreneurs Committee invested Rs 600 million, Rukum Yatayat around Rs 200 million and Prafi Yatayat and Sanibheri Yatayat together invested around Rs 200 million in the transportation sector of Rukum.</p>

<p>Investment in the district&rsquo;s transportation sector has increased significantly, said chairperson of Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Janak Kumar Bantha.</p>

<p>Bir Bahadur Malla, general secretary of Sanibheri Yatayat, informed that there are altogether 250 small and big buses currently operating in the district.</p>

<p>Entrepreneurs are providing transportation service to Kathmandu, Banke, Bhaluwang and Tulsipur from Rukum district.</p>

<p>Similarly, the buses also operate in local routes in the rural areas such as Musikot-Radibajar, Musikot-Chaurjahari and Musikot-Taksera.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5967',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6182',
			'article_category_id' => '1',
			'title' => 'Global IME Acquires Reliable',
			'sub_title' => '',
			'summary' => 'Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.',
			'content' => '<p>July 10: Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.</p>

<p>Finance Minister Gyanendra Bahadur Karki inaugurated the integrated transaction amid a program held on July 9. With this acquisition, Global IME has become the leading bank in Nepal to merge with or acquire 10 financial institutions.</p>

<p>After the acquisition, the bank&rsquo;s paid-up capital has reached Rs 8.08 billion, deposit to Rs 97.70 billion and loan to Rs 82 billion, as announced during the program.</p>

<p>Also, the bank now has 112 branches, representative offices in India and Australia, 114 ATM outlets, five extension counters and 46 branchless banking services.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5966',
			'image' => '20170710042233_global.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6181',
			'article_category_id' => '1',
			'title' => 'Century Starts Branchless Banking in Sarlahi',
			'sub_title' => '',
			'summary' => 'Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.',
			'content' => '<p>July 10: Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.</p>

<p>The service counter was launched amid a program held recently.&nbsp; The bank has been providing branchless banking service through 14 different locations in Bhojpur, Kailali, Morang, Khotang, Rautahat, Kanchanpur, Bardiya and Dhankuta districts so far.</p>

<p>The bank is currently providing banking services from 53 branches, 34 ATM outlets, 15 branchless banking and five extension counters.</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5965',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6180',
			'article_category_id' => '1',
			'title' => 'Monetary Policy 2017/18',
			'sub_title' => '25 Percent Loan for Priority Areas ',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. Unveiling the Monetary Policy for Fiscal Year 2017/18 on July 9, the central bank said that the lending requirement has been raised from 20 percent to 25 percent.</strong></p>

<p><strong>According to the monetary policy, commercial banks will have to invest 10 percent of their total lending capacity in agriculture sector, 5 percent in hydropower projects, 5 percent in tourism and the remaining 5 percent in other priority areas. </strong></p>

<p><strong>NRB has said that the monetary policy will complement the budget of the upcoming fiscal year and will also help in regulating the banking and financial sector. However, banks have expressed displeasure toward the provision to regulate them. </strong></p>

<p><strong>While unveiling the monetary policy, NRB Governor Dr Nepal said that the high economic growth, low inflation and balance of payment have ignited new hopes in the economic sector of the country. Stating that the monetary policy is relevant in the present context, the central bank claimed that it would help in maintaining price stability. </strong></p>

<p><strong>It should be recalled that some of the strong measures taken by the central bank in the past had caused problems for the private sector as well as banks and financial institutions (BFIs). </strong></p>

<p><strong>The Monetary Policy for Fiscal Year 2017/18 has a target to keep the rate of increase in money supply within the limit of 18 percent. Keeping in view the general demand in the FY 2017/18 on the basis of projected economic growth rate and inflation rate, the total domestic credit is expected to rise by 27.8 percent.&nbsp; </strong></p>

<p><strong>Meanwhile, the central bank has increased the refinance fund from Rs 10.84 billion to Rs 20 billion. The central bank has made it clear that it will use its profit for this purpose.</strong></p>

<p><strong>NRB has also decided to provide re-loan to the hydropower projects in priority list from Rs 5 billion allocated for the Economic Revival Fund. NRB believes that this move would help the hydropower projects of strategic importance to obtain loan at subsidized rate.</strong></p>

<p><strong>Likewise, the monetary policy has removed the mandatory provision for banks to provide minimum 2 percent loan to the deprived sector. </strong></p>

<p><strong>BFIs will be entitled to get Rs 10 million interest-free loan for a period of one year from the central bank for opening new accounts in remote places. The BFIs which expand their branches to places where there are no banking service will get Rs 10 million interest-free loan for 2500 new accounts. This amount will be provided to such BFI&rsquo;s for helping the government&rsquo;s campaign to open account for every Nepali citizen. </strong></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5964',
			'image' => '20170710020800_new.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6179',
			'article_category_id' => '1',
			'title' => 'King’s College Celebrates First Convocation',
			'sub_title' => '',
			'summary' => ' King’s College has celebrated its first convocation ceremony.',
			'content' => '<p>July 9: King&rsquo;s College has celebrated its first convocation ceremony.&nbsp; The event saw 206 students, 130 MBA graduates and 76 BBA graduates, earning their degrees from International American University and Westcliff University. The convocation ceremony was held at Hotel Yak and Yeti on July 7.</p>

<p>Students, guardians and teachers celebrated the occasion in the presence of Deputy Prime Minister and Minister for Education, Gopal Man Shrestha. Addressing the mass, Shrestha stressed on the need to put the knowledge and skills learned in colleges into creative and innovative works. He also stated that the ability to achieve international degree in Nepal itself is a great achievement. &ldquo;Such degrees provided in Nepal will help to curb the large number of students leaving the country each year for receiving international education,&rdquo; he said. Shrestha also talked about the initiatives of the Ministry of Education to improve the status of Nepal&rsquo;s education system. He suggested for the partnership of government and private sector for the betterment of the education sector.</p>

<p>Dr Guy Langvardt, president emeritus of International American University and Dr David McKinney, provost of Westcliff University gave statement of authority to their respective students.</p>

<p>Sanat Neupane, Director of King&rsquo;s College also addressed the audience and the college&rsquo;s chairman, Dr Som Prasad Pudasaini presented the students with awards for Spirit of Excellence. Meanwhile, Dr McKinney handed over the Valedictorian, Salutatorian and President awards and the Distinguished Faculty and Staff awards. It was followed by conferring of the degrees by Dr Langvardt and Dr McKinney.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5963',
			'image' => '20170709061450_kings.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6178',
			'article_category_id' => '1',
			'title' => 'NRB Bans Bill Discounting on Usance',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
			'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>

<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>

<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>

<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank&rsquo;s guarantee for payment.</p>

<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5962',
			'image' => '20170709054818_NRB.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6177',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Hands over Property to Trust',
			'sub_title' => '',
			'summary' => 'Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).',
			'content' => '<p>July 9: &nbsp;Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).</p>

<p>Binod Chaudhary, chairman of the foundation, handed over the monuments located &nbsp;at Vatsaleshwori temple area to the PADT Member Secretary Dr Govinda Tandon on July 7.</p>

<p>Chaudhary Foundation has proved itself to be a leader in both social and religious sectors by renovating the monuments, said Tandon. He also expressed his belief that this act by the foundation can be an inspiration to other organizations as well.</p>

<p>Chaudhary expressed his happiness on having contributed in renovation at Pashupatinath area, a major cultural heritage site and said they will continue to perform such activities in the future as well.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5961',
			'image' => '20170709044125_cg.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6176',
			'article_category_id' => '1',
			'title' => 'Sanima’s Branch at Maharajgunj',
			'sub_title' => '',
			'summary' => 'Sanima Bank has opened its branch at Maharajgunj of Kathmandu.',
			'content' => '<p>July 9: Sanima Bank has opened its branch at Maharajgunj of Kathmandu.</p>

<p>Brand ambassadors of the Bank, Madan Krishna Shrestha and Hari Bansha Acharya, jointly inaugurated the branch amid a program held on July 7.</p>

<p>Dr Subarna Das Shrestha, director of Sanima Bank, informed that the branch was opened with the objective of providing additional services to its customers.</p>

<p>CEO Bhuwan Dahal of the bank committed to provide the best banking service through its Maharajgunj branch. The bank now serves through 46 branches and 53 ATM outlets.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5960',
			'image' => '20170709041758_sanima.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6175',
			'article_category_id' => '1',
			'title' => 'Nepal Bank Meets Required Paid-up Capital',
			'sub_title' => '',
			'summary' => 'Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.  ',
			'content' => '<p>July 9: Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.</p>

<p>Nepal Bank is the second commercial bank to meet the paid-up capital requirement in the current fiscal year.</p>

<p>The bank led by CEO Devendra Pratap Shah since the past two years has been able to raise the paid-up capital to Rs 8.02 billion.</p>

<p>Government holds 62.55 percent ownership of the bank. Under the government&rsquo;s financial sector reform program, the bank was run under contract management while it for some time it was under the management of Nepal Rastra Bank. But since the last two years, Shah was appointed the CEO and the bank has been operating on the basis of free competition.</p>

<p>The bank is currently providing services through 131 branches and is planning to start providing smart banking services from 25 branches in the upcoming fiscal year, informed the bank.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5959',
			'image' => '20170709041505_nepal bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6174',
			'article_category_id' => '1',
			'title' => 'Kumari Bank Gifts Computers, Printers to school',
			'sub_title' => '',
			'summary' => ' Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.',
			'content' => '<p>July 9: Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.</p>

<p>Under its CSR programme, the bank recently provided computers and printers through the Rotary Club of Kathmandu North East.</p>

<p>Rajesh Shrestha, chief marketing officer of the bank, handed over the materials to Rotarian Manohar Raj Bhandari, director of the club.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5958',
			'image' => '20170709040337_kumari.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6173',
			'article_category_id' => '1',
			'title' => 'Financial Literacy Program by Himalayan',
			'sub_title' => '',
			'summary' => ' Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women’s Federation for World Peace and various other sectors.',
			'content' => '<p>July 9: Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women&rsquo;s Federation for World Peace and various other sectors.</p>

<p>Under its Meet and Greet Campaign, the bank held the Financial and Basic Banking Awareness Program with a view to increase women&rsquo;s participation in the banking sector.</p>

<p>Altogether 90 women from various sectors participated in the program. This was the second such program conducted by the bank.</p>

<p>Ashok Shumsher JB Rana, CEO of the bank, said that women should achieve prosperity with the help of the banking sector.</p>

<p>He stressed on the necessity to increase women&rsquo;s participation in banking sector for the economic development of the country while pointing out the need to conduct such programs at the national level.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5957',
			'image' => '20170709035719_himalayan bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6172',
			'article_category_id' => '1',
			'title' => 'JICA Announces Scholarships for Government Officials',
			'sub_title' => '',
			'summary' => ' Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.',
			'content' => '<p style="margin-left:8.0pt">July 9: Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.</p>

<p style="margin-left:8.0pt">Issuing a press release on July 7, JICA said it will extend grant assistance up to Rs 257 million (282 million Japanese yen) under the Grant Aid scheme of &ldquo;the Project for Human Resource&nbsp; Development Scholarship: JDS&rdquo; for the fiscal year 2017/18.</p>

<p style="margin-left:8.0pt">According to the press statement, JDS offers 2-year scholarship to 20 government officials of Nepal who are engaged in formulating and implementing socio-economic development planning and to study at a graduate school in Japan for Master&rsquo;s Degree, with an objective to resolve development challenges in Nepal.</p>

<p style="margin-left:8.0pt">The press further said that the grant agreement for the project was signed and exchanged between Baikuntha Aryal, joint secretary at the Ministry of Finance, on behalf of the Government of Nepal and Jun Sakuma, chief representative of JICA Nepal during a function held at the Ministry of Finance, Singha Durbar.</p>

<p style="margin-left:8.0pt">According to JICA, JDS is implemented in&nbsp; 13 countries since 1999 for supporting the human resource development of the countries targeting highly capable, young government officials and others who are potential future leaders of the partner countries. More than 3,700 officials have studied in Japan under this scholarship.</p>

<p style="margin-left:8.0pt">During the occasion Jun Sakuma further expressed that, &ldquo;We are hopeful all the scholars will contribute to the development process of Nepal once they come back after completing their education in Japan.&rdquo; This agreement expects to expand and enhance the foundation for bilateral relations between Japan and Nepal by means of accepting them in Japanese Universities as overseas students.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5956',
			'image' => '20170709020339_JICA.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6186',
			'article_category_id' => '1',
			'title' => 'Line of New Monetary Policy Ambiguous: Experts',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. However, the line mentioned in the monetary policy and the policy tools adopted for its implementation indicate otherwise. This has led experts to say that the new monetary policy is &lsquo;ambiguous&rsquo;.</strong></p>

<p><strong>NRB has projected an increase in the total domestic credit by 27.8 percent which will help to meet the targeted economic growth rate in FY2017/18.</strong></p>

<p><strong>&ldquo;The monetary policy has set the target to increase domestic credit in line with the budget announced by the government,&rdquo; states the policy, adding, &ldquo;The ceiling for lending in the private sector has been increased to 20 percent.&rdquo;</strong></p>

<p><strong>Experts argue that there is need of investment in private sector to meet the target of economic growth. However, the monetary policy has failed to take concrete measures to sort out two big challenges that have surfaced in the banking sector at present, according to the experts. </strong></p>

<p><strong>NRB in the monetary policy has dampened the expectations of many who have hoped that the central banking authority would take steps to ease the current difficulties in loan investments of BFIs. The central bank was expected to revise the </strong>core-capital-cum-deposit (CCD) ratio, cash reserve ratio (CRR) and statutory liquidity ratio (<em>SLR</em>) to ensure the adequacy of investible capital in the banking sector. But the new monetary policy has even scrapped the facilities that were provided by the mid-term review of the monetary policy of the current fiscal year.</p>

<p>Bankers say that if the current situation persists and the collection of deposits does not increase significantly, the new arrangement will further curtail the lending capacity of BFIs.&nbsp;</p>

<p>Stakeholders claim that instead of exploring possibilities of mobilising new sources, NRB has blocked the source of long-term loan investment by lowering the ceiling of deposit.</p>

<p>&ldquo;The new monetary policy has done nothing but deprived us from the source of loan investment that we had until now,&rdquo; said a CEO of a bank on condition of anonymity.</p>

<p>Confederation of Nepalese Industries (CNI) issued a press statement saying that the monetary policy failed to create a favorable environment to expand investment in the industrial sector.</p>

<p>Likewise, another challenge in meeting the target of economic growth is the high rate of interest. The wrong step taken by last year&rsquo;s monetary policy caused scarcity of investible capital resulting in the doubling of rate of interest within six months. Likewise, fluctuation in interest rate has been prevailing due to competition among BFIs to attract depositors.</p>

<p>In such situation, the central bank should have adopted proper measures to create stability in rate of interest to increase investible capital, according to the experts.</p>

<p><strong>In this regard, industrialists and bankers had been demanding revision in CCD ratio and lowering CRR. But instead of addressing these issues, the NRB took tough measures through the new monetary policy. </strong></p>

<p><strong>This indicates that the NRB is only interested in regulating and controlling the BFIs instead of solving the prevailing problems and the steps taken by the central bank won&rsquo;t be helpful to attract investors, create employment opportunities and meet the target of economic growth, argue experts.</strong></p>

<p><strong>The NRB has also been criticized for taking tough measures instead of adopting traditional means to control inflation. The monetary policy has a target to keep inflation below 7 percent in the upcoming FY. However, economists argue that price stability isn&rsquo;t possible without economic growth.&nbsp;</strong></p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5970',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '6184',
			'article_category_id' => '1',
			'title' => 'Personal Housing Loan Ceiling Up by Rs 5 million',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.',
			'content' => '<p>July 10: Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.</p>

<p>Previously, the limit was Rs 10 million but the new monetary policy of NRB has now been increased the ceiling to Rs &nbsp;15 million.</p>

<p>However, the central bank has tightened &nbsp;lending to real state in the Kathmandu Valley by lowering the loan to value (LTV) ratio.</p>

<p>The LTV ratio was previously 50 percent but has now been set at 40 percent in the Kathmandu valley. The previous ratio is still same for other regions though, claims NRB. The policy is expected to help to decentralize the development of various sectors.</p>

<p>The increase in loan ceiling and decrease in LTV will result in the increase in prices of commercial complexes, housings and apartments, claims Ashish Garg, coordinator of Nepal Land and Housing Developers&rsquo; Association.</p>

<p>The LTV ratio was 80 percent in the past and reducing it to 40 percent will further lead to decrease in construction of houses, which will affect housing industry as well, added Garg.</p>

<p>&nbsp;Despite the need to encourage decentralized development for the sake of implementation of federalism, the government has discouraged it, said Garg. Even if the ratio is decreased in the capitals of federal provinces, it should not be decreased in the Kathmandu valley, suggested Garg.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5969',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '6185',
			'article_category_id' => '1',
			'title' => 'Jebils Finance to issue 40% Right Shares',
			'sub_title' => '',
			'summary' => 'Jebils Finance has decided to further issue 40 percent right shares to its shareholders.',
			'content' => '<p>July 10: Jebils Finance has decided to further issue 40 percent right shares to its shareholders.</p>

<p>The Special General Meeting of the finance held on July 7 has approved the proposal to issue the right shares after issuance of already declared rights shares in the ratio of 1:1.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5968',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6183',
			'article_category_id' => '1',
			'title' => 'Transportation in Rukum Gets a Boost',
			'sub_title' => '',
			'summary' => 'The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.',
			'content' => '<p>July 10: The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.</p>

<p>According to transportation entrepreneurs of the district, Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Rukum Yatayat Pvt Ltd, Prafi Yatayat Pvt Ltd and Sanibheri Yatayat Committee operating in the district have made such huge investment.</p>

<p>Sisne Himal Bus and Mini Bus Entrepreneurs Committee invested Rs 600 million, Rukum Yatayat around Rs 200 million and Prafi Yatayat and Sanibheri Yatayat together invested around Rs 200 million in the transportation sector of Rukum.</p>

<p>Investment in the district&rsquo;s transportation sector has increased significantly, said chairperson of Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Janak Kumar Bantha.</p>

<p>Bir Bahadur Malla, general secretary of Sanibheri Yatayat, informed that there are altogether 250 small and big buses currently operating in the district.</p>

<p>Entrepreneurs are providing transportation service to Kathmandu, Banke, Bhaluwang and Tulsipur from Rukum district.</p>

<p>Similarly, the buses also operate in local routes in the rural areas such as Musikot-Radibajar, Musikot-Chaurjahari and Musikot-Taksera.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5967',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6182',
			'article_category_id' => '1',
			'title' => 'Global IME Acquires Reliable',
			'sub_title' => '',
			'summary' => 'Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.',
			'content' => '<p>July 10: Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.</p>

<p>Finance Minister Gyanendra Bahadur Karki inaugurated the integrated transaction amid a program held on July 9. With this acquisition, Global IME has become the leading bank in Nepal to merge with or acquire 10 financial institutions.</p>

<p>After the acquisition, the bank&rsquo;s paid-up capital has reached Rs 8.08 billion, deposit to Rs 97.70 billion and loan to Rs 82 billion, as announced during the program.</p>

<p>Also, the bank now has 112 branches, representative offices in India and Australia, 114 ATM outlets, five extension counters and 46 branchless banking services.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5966',
			'image' => '20170710042233_global.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6181',
			'article_category_id' => '1',
			'title' => 'Century Starts Branchless Banking in Sarlahi',
			'sub_title' => '',
			'summary' => 'Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.',
			'content' => '<p>July 10: Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.</p>

<p>The service counter was launched amid a program held recently.&nbsp; The bank has been providing branchless banking service through 14 different locations in Bhojpur, Kailali, Morang, Khotang, Rautahat, Kanchanpur, Bardiya and Dhankuta districts so far.</p>

<p>The bank is currently providing banking services from 53 branches, 34 ATM outlets, 15 branchless banking and five extension counters.</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5965',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6180',
			'article_category_id' => '1',
			'title' => 'Monetary Policy 2017/18',
			'sub_title' => '25 Percent Loan for Priority Areas ',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. Unveiling the Monetary Policy for Fiscal Year 2017/18 on July 9, the central bank said that the lending requirement has been raised from 20 percent to 25 percent.</strong></p>

<p><strong>According to the monetary policy, commercial banks will have to invest 10 percent of their total lending capacity in agriculture sector, 5 percent in hydropower projects, 5 percent in tourism and the remaining 5 percent in other priority areas. </strong></p>

<p><strong>NRB has said that the monetary policy will complement the budget of the upcoming fiscal year and will also help in regulating the banking and financial sector. However, banks have expressed displeasure toward the provision to regulate them. </strong></p>

<p><strong>While unveiling the monetary policy, NRB Governor Dr Nepal said that the high economic growth, low inflation and balance of payment have ignited new hopes in the economic sector of the country. Stating that the monetary policy is relevant in the present context, the central bank claimed that it would help in maintaining price stability. </strong></p>

<p><strong>It should be recalled that some of the strong measures taken by the central bank in the past had caused problems for the private sector as well as banks and financial institutions (BFIs). </strong></p>

<p><strong>The Monetary Policy for Fiscal Year 2017/18 has a target to keep the rate of increase in money supply within the limit of 18 percent. Keeping in view the general demand in the FY 2017/18 on the basis of projected economic growth rate and inflation rate, the total domestic credit is expected to rise by 27.8 percent.&nbsp; </strong></p>

<p><strong>Meanwhile, the central bank has increased the refinance fund from Rs 10.84 billion to Rs 20 billion. The central bank has made it clear that it will use its profit for this purpose.</strong></p>

<p><strong>NRB has also decided to provide re-loan to the hydropower projects in priority list from Rs 5 billion allocated for the Economic Revival Fund. NRB believes that this move would help the hydropower projects of strategic importance to obtain loan at subsidized rate.</strong></p>

<p><strong>Likewise, the monetary policy has removed the mandatory provision for banks to provide minimum 2 percent loan to the deprived sector. </strong></p>

<p><strong>BFIs will be entitled to get Rs 10 million interest-free loan for a period of one year from the central bank for opening new accounts in remote places. The BFIs which expand their branches to places where there are no banking service will get Rs 10 million interest-free loan for 2500 new accounts. This amount will be provided to such BFI&rsquo;s for helping the government&rsquo;s campaign to open account for every Nepali citizen. </strong></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5964',
			'image' => '20170710020800_new.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6179',
			'article_category_id' => '1',
			'title' => 'King’s College Celebrates First Convocation',
			'sub_title' => '',
			'summary' => ' King’s College has celebrated its first convocation ceremony.',
			'content' => '<p>July 9: King&rsquo;s College has celebrated its first convocation ceremony.&nbsp; The event saw 206 students, 130 MBA graduates and 76 BBA graduates, earning their degrees from International American University and Westcliff University. The convocation ceremony was held at Hotel Yak and Yeti on July 7.</p>

<p>Students, guardians and teachers celebrated the occasion in the presence of Deputy Prime Minister and Minister for Education, Gopal Man Shrestha. Addressing the mass, Shrestha stressed on the need to put the knowledge and skills learned in colleges into creative and innovative works. He also stated that the ability to achieve international degree in Nepal itself is a great achievement. &ldquo;Such degrees provided in Nepal will help to curb the large number of students leaving the country each year for receiving international education,&rdquo; he said. Shrestha also talked about the initiatives of the Ministry of Education to improve the status of Nepal&rsquo;s education system. He suggested for the partnership of government and private sector for the betterment of the education sector.</p>

<p>Dr Guy Langvardt, president emeritus of International American University and Dr David McKinney, provost of Westcliff University gave statement of authority to their respective students.</p>

<p>Sanat Neupane, Director of King&rsquo;s College also addressed the audience and the college&rsquo;s chairman, Dr Som Prasad Pudasaini presented the students with awards for Spirit of Excellence. Meanwhile, Dr McKinney handed over the Valedictorian, Salutatorian and President awards and the Distinguished Faculty and Staff awards. It was followed by conferring of the degrees by Dr Langvardt and Dr McKinney.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5963',
			'image' => '20170709061450_kings.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6178',
			'article_category_id' => '1',
			'title' => 'NRB Bans Bill Discounting on Usance',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
			'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>

<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>

<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>

<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank&rsquo;s guarantee for payment.</p>

<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5962',
			'image' => '20170709054818_NRB.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6177',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Hands over Property to Trust',
			'sub_title' => '',
			'summary' => 'Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).',
			'content' => '<p>July 9: &nbsp;Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).</p>

<p>Binod Chaudhary, chairman of the foundation, handed over the monuments located &nbsp;at Vatsaleshwori temple area to the PADT Member Secretary Dr Govinda Tandon on July 7.</p>

<p>Chaudhary Foundation has proved itself to be a leader in both social and religious sectors by renovating the monuments, said Tandon. He also expressed his belief that this act by the foundation can be an inspiration to other organizations as well.</p>

<p>Chaudhary expressed his happiness on having contributed in renovation at Pashupatinath area, a major cultural heritage site and said they will continue to perform such activities in the future as well.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5961',
			'image' => '20170709044125_cg.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6176',
			'article_category_id' => '1',
			'title' => 'Sanima’s Branch at Maharajgunj',
			'sub_title' => '',
			'summary' => 'Sanima Bank has opened its branch at Maharajgunj of Kathmandu.',
			'content' => '<p>July 9: Sanima Bank has opened its branch at Maharajgunj of Kathmandu.</p>

<p>Brand ambassadors of the Bank, Madan Krishna Shrestha and Hari Bansha Acharya, jointly inaugurated the branch amid a program held on July 7.</p>

<p>Dr Subarna Das Shrestha, director of Sanima Bank, informed that the branch was opened with the objective of providing additional services to its customers.</p>

<p>CEO Bhuwan Dahal of the bank committed to provide the best banking service through its Maharajgunj branch. The bank now serves through 46 branches and 53 ATM outlets.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5960',
			'image' => '20170709041758_sanima.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6175',
			'article_category_id' => '1',
			'title' => 'Nepal Bank Meets Required Paid-up Capital',
			'sub_title' => '',
			'summary' => 'Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.  ',
			'content' => '<p>July 9: Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.</p>

<p>Nepal Bank is the second commercial bank to meet the paid-up capital requirement in the current fiscal year.</p>

<p>The bank led by CEO Devendra Pratap Shah since the past two years has been able to raise the paid-up capital to Rs 8.02 billion.</p>

<p>Government holds 62.55 percent ownership of the bank. Under the government&rsquo;s financial sector reform program, the bank was run under contract management while it for some time it was under the management of Nepal Rastra Bank. But since the last two years, Shah was appointed the CEO and the bank has been operating on the basis of free competition.</p>

<p>The bank is currently providing services through 131 branches and is planning to start providing smart banking services from 25 branches in the upcoming fiscal year, informed the bank.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5959',
			'image' => '20170709041505_nepal bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6174',
			'article_category_id' => '1',
			'title' => 'Kumari Bank Gifts Computers, Printers to school',
			'sub_title' => '',
			'summary' => ' Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.',
			'content' => '<p>July 9: Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.</p>

<p>Under its CSR programme, the bank recently provided computers and printers through the Rotary Club of Kathmandu North East.</p>

<p>Rajesh Shrestha, chief marketing officer of the bank, handed over the materials to Rotarian Manohar Raj Bhandari, director of the club.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5958',
			'image' => '20170709040337_kumari.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6173',
			'article_category_id' => '1',
			'title' => 'Financial Literacy Program by Himalayan',
			'sub_title' => '',
			'summary' => ' Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women’s Federation for World Peace and various other sectors.',
			'content' => '<p>July 9: Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women&rsquo;s Federation for World Peace and various other sectors.</p>

<p>Under its Meet and Greet Campaign, the bank held the Financial and Basic Banking Awareness Program with a view to increase women&rsquo;s participation in the banking sector.</p>

<p>Altogether 90 women from various sectors participated in the program. This was the second such program conducted by the bank.</p>

<p>Ashok Shumsher JB Rana, CEO of the bank, said that women should achieve prosperity with the help of the banking sector.</p>

<p>He stressed on the necessity to increase women&rsquo;s participation in banking sector for the economic development of the country while pointing out the need to conduct such programs at the national level.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5957',
			'image' => '20170709035719_himalayan bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6172',
			'article_category_id' => '1',
			'title' => 'JICA Announces Scholarships for Government Officials',
			'sub_title' => '',
			'summary' => ' Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.',
			'content' => '<p style="margin-left:8.0pt">July 9: Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.</p>

<p style="margin-left:8.0pt">Issuing a press release on July 7, JICA said it will extend grant assistance up to Rs 257 million (282 million Japanese yen) under the Grant Aid scheme of &ldquo;the Project for Human Resource&nbsp; Development Scholarship: JDS&rdquo; for the fiscal year 2017/18.</p>

<p style="margin-left:8.0pt">According to the press statement, JDS offers 2-year scholarship to 20 government officials of Nepal who are engaged in formulating and implementing socio-economic development planning and to study at a graduate school in Japan for Master&rsquo;s Degree, with an objective to resolve development challenges in Nepal.</p>

<p style="margin-left:8.0pt">The press further said that the grant agreement for the project was signed and exchanged between Baikuntha Aryal, joint secretary at the Ministry of Finance, on behalf of the Government of Nepal and Jun Sakuma, chief representative of JICA Nepal during a function held at the Ministry of Finance, Singha Durbar.</p>

<p style="margin-left:8.0pt">According to JICA, JDS is implemented in&nbsp; 13 countries since 1999 for supporting the human resource development of the countries targeting highly capable, young government officials and others who are potential future leaders of the partner countries. More than 3,700 officials have studied in Japan under this scholarship.</p>

<p style="margin-left:8.0pt">During the occasion Jun Sakuma further expressed that, &ldquo;We are hopeful all the scholars will contribute to the development process of Nepal once they come back after completing their education in Japan.&rdquo; This agreement expects to expand and enhance the foundation for bilateral relations between Japan and Nepal by means of accepting them in Japanese Universities as overseas students.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5956',
			'image' => '20170709020339_JICA.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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' => '6186',
			'article_category_id' => '1',
			'title' => 'Line of New Monetary Policy Ambiguous: Experts',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. However, the line mentioned in the monetary policy and the policy tools adopted for its implementation indicate otherwise. This has led experts to say that the new monetary policy is &lsquo;ambiguous&rsquo;.</strong></p>

<p><strong>NRB has projected an increase in the total domestic credit by 27.8 percent which will help to meet the targeted economic growth rate in FY2017/18.</strong></p>

<p><strong>&ldquo;The monetary policy has set the target to increase domestic credit in line with the budget announced by the government,&rdquo; states the policy, adding, &ldquo;The ceiling for lending in the private sector has been increased to 20 percent.&rdquo;</strong></p>

<p><strong>Experts argue that there is need of investment in private sector to meet the target of economic growth. However, the monetary policy has failed to take concrete measures to sort out two big challenges that have surfaced in the banking sector at present, according to the experts. </strong></p>

<p><strong>NRB in the monetary policy has dampened the expectations of many who have hoped that the central banking authority would take steps to ease the current difficulties in loan investments of BFIs. The central bank was expected to revise the </strong>core-capital-cum-deposit (CCD) ratio, cash reserve ratio (CRR) and statutory liquidity ratio (<em>SLR</em>) to ensure the adequacy of investible capital in the banking sector. But the new monetary policy has even scrapped the facilities that were provided by the mid-term review of the monetary policy of the current fiscal year.</p>

<p>Bankers say that if the current situation persists and the collection of deposits does not increase significantly, the new arrangement will further curtail the lending capacity of BFIs.&nbsp;</p>

<p>Stakeholders claim that instead of exploring possibilities of mobilising new sources, NRB has blocked the source of long-term loan investment by lowering the ceiling of deposit.</p>

<p>&ldquo;The new monetary policy has done nothing but deprived us from the source of loan investment that we had until now,&rdquo; said a CEO of a bank on condition of anonymity.</p>

<p>Confederation of Nepalese Industries (CNI) issued a press statement saying that the monetary policy failed to create a favorable environment to expand investment in the industrial sector.</p>

<p>Likewise, another challenge in meeting the target of economic growth is the high rate of interest. The wrong step taken by last year&rsquo;s monetary policy caused scarcity of investible capital resulting in the doubling of rate of interest within six months. Likewise, fluctuation in interest rate has been prevailing due to competition among BFIs to attract depositors.</p>

<p>In such situation, the central bank should have adopted proper measures to create stability in rate of interest to increase investible capital, according to the experts.</p>

<p><strong>In this regard, industrialists and bankers had been demanding revision in CCD ratio and lowering CRR. But instead of addressing these issues, the NRB took tough measures through the new monetary policy. </strong></p>

<p><strong>This indicates that the NRB is only interested in regulating and controlling the BFIs instead of solving the prevailing problems and the steps taken by the central bank won&rsquo;t be helpful to attract investors, create employment opportunities and meet the target of economic growth, argue experts.</strong></p>

<p><strong>The NRB has also been criticized for taking tough measures instead of adopting traditional means to control inflation. The monetary policy has a target to keep inflation below 7 percent in the upcoming FY. However, economists argue that price stability isn&rsquo;t possible without economic growth.&nbsp;</strong></p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5970',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '6184',
			'article_category_id' => '1',
			'title' => 'Personal Housing Loan Ceiling Up by Rs 5 million',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.',
			'content' => '<p>July 10: Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.</p>

<p>Previously, the limit was Rs 10 million but the new monetary policy of NRB has now been increased the ceiling to Rs &nbsp;15 million.</p>

<p>However, the central bank has tightened &nbsp;lending to real state in the Kathmandu Valley by lowering the loan to value (LTV) ratio.</p>

<p>The LTV ratio was previously 50 percent but has now been set at 40 percent in the Kathmandu valley. The previous ratio is still same for other regions though, claims NRB. The policy is expected to help to decentralize the development of various sectors.</p>

<p>The increase in loan ceiling and decrease in LTV will result in the increase in prices of commercial complexes, housings and apartments, claims Ashish Garg, coordinator of Nepal Land and Housing Developers&rsquo; Association.</p>

<p>The LTV ratio was 80 percent in the past and reducing it to 40 percent will further lead to decrease in construction of houses, which will affect housing industry as well, added Garg.</p>

<p>&nbsp;Despite the need to encourage decentralized development for the sake of implementation of federalism, the government has discouraged it, said Garg. Even if the ratio is decreased in the capitals of federal provinces, it should not be decreased in the Kathmandu valley, suggested Garg.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5969',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '6185',
			'article_category_id' => '1',
			'title' => 'Jebils Finance to issue 40% Right Shares',
			'sub_title' => '',
			'summary' => 'Jebils Finance has decided to further issue 40 percent right shares to its shareholders.',
			'content' => '<p>July 10: Jebils Finance has decided to further issue 40 percent right shares to its shareholders.</p>

<p>The Special General Meeting of the finance held on July 7 has approved the proposal to issue the right shares after issuance of already declared rights shares in the ratio of 1:1.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5968',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6183',
			'article_category_id' => '1',
			'title' => 'Transportation in Rukum Gets a Boost',
			'sub_title' => '',
			'summary' => 'The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.',
			'content' => '<p>July 10: The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.</p>

<p>According to transportation entrepreneurs of the district, Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Rukum Yatayat Pvt Ltd, Prafi Yatayat Pvt Ltd and Sanibheri Yatayat Committee operating in the district have made such huge investment.</p>

<p>Sisne Himal Bus and Mini Bus Entrepreneurs Committee invested Rs 600 million, Rukum Yatayat around Rs 200 million and Prafi Yatayat and Sanibheri Yatayat together invested around Rs 200 million in the transportation sector of Rukum.</p>

<p>Investment in the district&rsquo;s transportation sector has increased significantly, said chairperson of Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Janak Kumar Bantha.</p>

<p>Bir Bahadur Malla, general secretary of Sanibheri Yatayat, informed that there are altogether 250 small and big buses currently operating in the district.</p>

<p>Entrepreneurs are providing transportation service to Kathmandu, Banke, Bhaluwang and Tulsipur from Rukum district.</p>

<p>Similarly, the buses also operate in local routes in the rural areas such as Musikot-Radibajar, Musikot-Chaurjahari and Musikot-Taksera.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5967',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6182',
			'article_category_id' => '1',
			'title' => 'Global IME Acquires Reliable',
			'sub_title' => '',
			'summary' => 'Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.',
			'content' => '<p>July 10: Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.</p>

<p>Finance Minister Gyanendra Bahadur Karki inaugurated the integrated transaction amid a program held on July 9. With this acquisition, Global IME has become the leading bank in Nepal to merge with or acquire 10 financial institutions.</p>

<p>After the acquisition, the bank&rsquo;s paid-up capital has reached Rs 8.08 billion, deposit to Rs 97.70 billion and loan to Rs 82 billion, as announced during the program.</p>

<p>Also, the bank now has 112 branches, representative offices in India and Australia, 114 ATM outlets, five extension counters and 46 branchless banking services.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5966',
			'image' => '20170710042233_global.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6181',
			'article_category_id' => '1',
			'title' => 'Century Starts Branchless Banking in Sarlahi',
			'sub_title' => '',
			'summary' => 'Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.',
			'content' => '<p>July 10: Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.</p>

<p>The service counter was launched amid a program held recently.&nbsp; The bank has been providing branchless banking service through 14 different locations in Bhojpur, Kailali, Morang, Khotang, Rautahat, Kanchanpur, Bardiya and Dhankuta districts so far.</p>

<p>The bank is currently providing banking services from 53 branches, 34 ATM outlets, 15 branchless banking and five extension counters.</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5965',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6180',
			'article_category_id' => '1',
			'title' => 'Monetary Policy 2017/18',
			'sub_title' => '25 Percent Loan for Priority Areas ',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. Unveiling the Monetary Policy for Fiscal Year 2017/18 on July 9, the central bank said that the lending requirement has been raised from 20 percent to 25 percent.</strong></p>

<p><strong>According to the monetary policy, commercial banks will have to invest 10 percent of their total lending capacity in agriculture sector, 5 percent in hydropower projects, 5 percent in tourism and the remaining 5 percent in other priority areas. </strong></p>

<p><strong>NRB has said that the monetary policy will complement the budget of the upcoming fiscal year and will also help in regulating the banking and financial sector. However, banks have expressed displeasure toward the provision to regulate them. </strong></p>

<p><strong>While unveiling the monetary policy, NRB Governor Dr Nepal said that the high economic growth, low inflation and balance of payment have ignited new hopes in the economic sector of the country. Stating that the monetary policy is relevant in the present context, the central bank claimed that it would help in maintaining price stability. </strong></p>

<p><strong>It should be recalled that some of the strong measures taken by the central bank in the past had caused problems for the private sector as well as banks and financial institutions (BFIs). </strong></p>

<p><strong>The Monetary Policy for Fiscal Year 2017/18 has a target to keep the rate of increase in money supply within the limit of 18 percent. Keeping in view the general demand in the FY 2017/18 on the basis of projected economic growth rate and inflation rate, the total domestic credit is expected to rise by 27.8 percent.&nbsp; </strong></p>

<p><strong>Meanwhile, the central bank has increased the refinance fund from Rs 10.84 billion to Rs 20 billion. The central bank has made it clear that it will use its profit for this purpose.</strong></p>

<p><strong>NRB has also decided to provide re-loan to the hydropower projects in priority list from Rs 5 billion allocated for the Economic Revival Fund. NRB believes that this move would help the hydropower projects of strategic importance to obtain loan at subsidized rate.</strong></p>

<p><strong>Likewise, the monetary policy has removed the mandatory provision for banks to provide minimum 2 percent loan to the deprived sector. </strong></p>

<p><strong>BFIs will be entitled to get Rs 10 million interest-free loan for a period of one year from the central bank for opening new accounts in remote places. The BFIs which expand their branches to places where there are no banking service will get Rs 10 million interest-free loan for 2500 new accounts. This amount will be provided to such BFI&rsquo;s for helping the government&rsquo;s campaign to open account for every Nepali citizen. </strong></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5964',
			'image' => '20170710020800_new.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6179',
			'article_category_id' => '1',
			'title' => 'King’s College Celebrates First Convocation',
			'sub_title' => '',
			'summary' => ' King’s College has celebrated its first convocation ceremony.',
			'content' => '<p>July 9: King&rsquo;s College has celebrated its first convocation ceremony.&nbsp; The event saw 206 students, 130 MBA graduates and 76 BBA graduates, earning their degrees from International American University and Westcliff University. The convocation ceremony was held at Hotel Yak and Yeti on July 7.</p>

<p>Students, guardians and teachers celebrated the occasion in the presence of Deputy Prime Minister and Minister for Education, Gopal Man Shrestha. Addressing the mass, Shrestha stressed on the need to put the knowledge and skills learned in colleges into creative and innovative works. He also stated that the ability to achieve international degree in Nepal itself is a great achievement. &ldquo;Such degrees provided in Nepal will help to curb the large number of students leaving the country each year for receiving international education,&rdquo; he said. Shrestha also talked about the initiatives of the Ministry of Education to improve the status of Nepal&rsquo;s education system. He suggested for the partnership of government and private sector for the betterment of the education sector.</p>

<p>Dr Guy Langvardt, president emeritus of International American University and Dr David McKinney, provost of Westcliff University gave statement of authority to their respective students.</p>

<p>Sanat Neupane, Director of King&rsquo;s College also addressed the audience and the college&rsquo;s chairman, Dr Som Prasad Pudasaini presented the students with awards for Spirit of Excellence. Meanwhile, Dr McKinney handed over the Valedictorian, Salutatorian and President awards and the Distinguished Faculty and Staff awards. It was followed by conferring of the degrees by Dr Langvardt and Dr McKinney.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5963',
			'image' => '20170709061450_kings.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6178',
			'article_category_id' => '1',
			'title' => 'NRB Bans Bill Discounting on Usance',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
			'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>

<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>

<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>

<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank&rsquo;s guarantee for payment.</p>

<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5962',
			'image' => '20170709054818_NRB.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6177',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Hands over Property to Trust',
			'sub_title' => '',
			'summary' => 'Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).',
			'content' => '<p>July 9: &nbsp;Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).</p>

<p>Binod Chaudhary, chairman of the foundation, handed over the monuments located &nbsp;at Vatsaleshwori temple area to the PADT Member Secretary Dr Govinda Tandon on July 7.</p>

<p>Chaudhary Foundation has proved itself to be a leader in both social and religious sectors by renovating the monuments, said Tandon. He also expressed his belief that this act by the foundation can be an inspiration to other organizations as well.</p>

<p>Chaudhary expressed his happiness on having contributed in renovation at Pashupatinath area, a major cultural heritage site and said they will continue to perform such activities in the future as well.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5961',
			'image' => '20170709044125_cg.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6176',
			'article_category_id' => '1',
			'title' => 'Sanima’s Branch at Maharajgunj',
			'sub_title' => '',
			'summary' => 'Sanima Bank has opened its branch at Maharajgunj of Kathmandu.',
			'content' => '<p>July 9: Sanima Bank has opened its branch at Maharajgunj of Kathmandu.</p>

<p>Brand ambassadors of the Bank, Madan Krishna Shrestha and Hari Bansha Acharya, jointly inaugurated the branch amid a program held on July 7.</p>

<p>Dr Subarna Das Shrestha, director of Sanima Bank, informed that the branch was opened with the objective of providing additional services to its customers.</p>

<p>CEO Bhuwan Dahal of the bank committed to provide the best banking service through its Maharajgunj branch. The bank now serves through 46 branches and 53 ATM outlets.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5960',
			'image' => '20170709041758_sanima.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6175',
			'article_category_id' => '1',
			'title' => 'Nepal Bank Meets Required Paid-up Capital',
			'sub_title' => '',
			'summary' => 'Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.  ',
			'content' => '<p>July 9: Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.</p>

<p>Nepal Bank is the second commercial bank to meet the paid-up capital requirement in the current fiscal year.</p>

<p>The bank led by CEO Devendra Pratap Shah since the past two years has been able to raise the paid-up capital to Rs 8.02 billion.</p>

<p>Government holds 62.55 percent ownership of the bank. Under the government&rsquo;s financial sector reform program, the bank was run under contract management while it for some time it was under the management of Nepal Rastra Bank. But since the last two years, Shah was appointed the CEO and the bank has been operating on the basis of free competition.</p>

<p>The bank is currently providing services through 131 branches and is planning to start providing smart banking services from 25 branches in the upcoming fiscal year, informed the bank.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5959',
			'image' => '20170709041505_nepal bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6174',
			'article_category_id' => '1',
			'title' => 'Kumari Bank Gifts Computers, Printers to school',
			'sub_title' => '',
			'summary' => ' Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.',
			'content' => '<p>July 9: Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.</p>

<p>Under its CSR programme, the bank recently provided computers and printers through the Rotary Club of Kathmandu North East.</p>

<p>Rajesh Shrestha, chief marketing officer of the bank, handed over the materials to Rotarian Manohar Raj Bhandari, director of the club.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5958',
			'image' => '20170709040337_kumari.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6173',
			'article_category_id' => '1',
			'title' => 'Financial Literacy Program by Himalayan',
			'sub_title' => '',
			'summary' => ' Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women’s Federation for World Peace and various other sectors.',
			'content' => '<p>July 9: Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women&rsquo;s Federation for World Peace and various other sectors.</p>

<p>Under its Meet and Greet Campaign, the bank held the Financial and Basic Banking Awareness Program with a view to increase women&rsquo;s participation in the banking sector.</p>

<p>Altogether 90 women from various sectors participated in the program. This was the second such program conducted by the bank.</p>

<p>Ashok Shumsher JB Rana, CEO of the bank, said that women should achieve prosperity with the help of the banking sector.</p>

<p>He stressed on the necessity to increase women&rsquo;s participation in banking sector for the economic development of the country while pointing out the need to conduct such programs at the national level.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5957',
			'image' => '20170709035719_himalayan bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6172',
			'article_category_id' => '1',
			'title' => 'JICA Announces Scholarships for Government Officials',
			'sub_title' => '',
			'summary' => ' Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.',
			'content' => '<p style="margin-left:8.0pt">July 9: Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.</p>

<p style="margin-left:8.0pt">Issuing a press release on July 7, JICA said it will extend grant assistance up to Rs 257 million (282 million Japanese yen) under the Grant Aid scheme of &ldquo;the Project for Human Resource&nbsp; Development Scholarship: JDS&rdquo; for the fiscal year 2017/18.</p>

<p style="margin-left:8.0pt">According to the press statement, JDS offers 2-year scholarship to 20 government officials of Nepal who are engaged in formulating and implementing socio-economic development planning and to study at a graduate school in Japan for Master&rsquo;s Degree, with an objective to resolve development challenges in Nepal.</p>

<p style="margin-left:8.0pt">The press further said that the grant agreement for the project was signed and exchanged between Baikuntha Aryal, joint secretary at the Ministry of Finance, on behalf of the Government of Nepal and Jun Sakuma, chief representative of JICA Nepal during a function held at the Ministry of Finance, Singha Durbar.</p>

<p style="margin-left:8.0pt">According to JICA, JDS is implemented in&nbsp; 13 countries since 1999 for supporting the human resource development of the countries targeting highly capable, young government officials and others who are potential future leaders of the partner countries. More than 3,700 officials have studied in Japan under this scholarship.</p>

<p style="margin-left:8.0pt">During the occasion Jun Sakuma further expressed that, &ldquo;We are hopeful all the scholars will contribute to the development process of Nepal once they come back after completing their education in Japan.&rdquo; This agreement expects to expand and enhance the foundation for bilateral relations between Japan and Nepal by means of accepting them in Japanese Universities as overseas students.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5956',
			'image' => '20170709020339_JICA.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6186',
			'article_category_id' => '1',
			'title' => 'Line of New Monetary Policy Ambiguous: Experts',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) in the monetary policy for the upcoming fiscal year 2017/18 has adopted liquidity management measures to help the government meet economic growth rate target of 7.2 percent in the next fiscal year. However, the line mentioned in the monetary policy and the policy tools adopted for its implementation indicate otherwise. This has led experts to say that the new monetary policy is &lsquo;ambiguous&rsquo;.</strong></p>

<p><strong>NRB has projected an increase in the total domestic credit by 27.8 percent which will help to meet the targeted economic growth rate in FY2017/18.</strong></p>

<p><strong>&ldquo;The monetary policy has set the target to increase domestic credit in line with the budget announced by the government,&rdquo; states the policy, adding, &ldquo;The ceiling for lending in the private sector has been increased to 20 percent.&rdquo;</strong></p>

<p><strong>Experts argue that there is need of investment in private sector to meet the target of economic growth. However, the monetary policy has failed to take concrete measures to sort out two big challenges that have surfaced in the banking sector at present, according to the experts. </strong></p>

<p><strong>NRB in the monetary policy has dampened the expectations of many who have hoped that the central banking authority would take steps to ease the current difficulties in loan investments of BFIs. The central bank was expected to revise the </strong>core-capital-cum-deposit (CCD) ratio, cash reserve ratio (CRR) and statutory liquidity ratio (<em>SLR</em>) to ensure the adequacy of investible capital in the banking sector. But the new monetary policy has even scrapped the facilities that were provided by the mid-term review of the monetary policy of the current fiscal year.</p>

<p>Bankers say that if the current situation persists and the collection of deposits does not increase significantly, the new arrangement will further curtail the lending capacity of BFIs.&nbsp;</p>

<p>Stakeholders claim that instead of exploring possibilities of mobilising new sources, NRB has blocked the source of long-term loan investment by lowering the ceiling of deposit.</p>

<p>&ldquo;The new monetary policy has done nothing but deprived us from the source of loan investment that we had until now,&rdquo; said a CEO of a bank on condition of anonymity.</p>

<p>Confederation of Nepalese Industries (CNI) issued a press statement saying that the monetary policy failed to create a favorable environment to expand investment in the industrial sector.</p>

<p>Likewise, another challenge in meeting the target of economic growth is the high rate of interest. The wrong step taken by last year&rsquo;s monetary policy caused scarcity of investible capital resulting in the doubling of rate of interest within six months. Likewise, fluctuation in interest rate has been prevailing due to competition among BFIs to attract depositors.</p>

<p>In such situation, the central bank should have adopted proper measures to create stability in rate of interest to increase investible capital, according to the experts.</p>

<p><strong>In this regard, industrialists and bankers had been demanding revision in CCD ratio and lowering CRR. But instead of addressing these issues, the NRB took tough measures through the new monetary policy. </strong></p>

<p><strong>This indicates that the NRB is only interested in regulating and controlling the BFIs instead of solving the prevailing problems and the steps taken by the central bank won&rsquo;t be helpful to attract investors, create employment opportunities and meet the target of economic growth, argue experts.</strong></p>

<p><strong>The NRB has also been criticized for taking tough measures instead of adopting traditional means to control inflation. The monetary policy has a target to keep inflation below 7 percent in the upcoming FY. However, economists argue that price stability isn&rsquo;t possible without economic growth.&nbsp;</strong></p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5970',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '6184',
			'article_category_id' => '1',
			'title' => 'Personal Housing Loan Ceiling Up by Rs 5 million',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.',
			'content' => '<p>July 10: Nepal Rastra Bank has increased the ceiling for personal housing loan by Rs 5 million.</p>

<p>Previously, the limit was Rs 10 million but the new monetary policy of NRB has now been increased the ceiling to Rs &nbsp;15 million.</p>

<p>However, the central bank has tightened &nbsp;lending to real state in the Kathmandu Valley by lowering the loan to value (LTV) ratio.</p>

<p>The LTV ratio was previously 50 percent but has now been set at 40 percent in the Kathmandu valley. The previous ratio is still same for other regions though, claims NRB. The policy is expected to help to decentralize the development of various sectors.</p>

<p>The increase in loan ceiling and decrease in LTV will result in the increase in prices of commercial complexes, housings and apartments, claims Ashish Garg, coordinator of Nepal Land and Housing Developers&rsquo; Association.</p>

<p>The LTV ratio was 80 percent in the past and reducing it to 40 percent will further lead to decrease in construction of houses, which will affect housing industry as well, added Garg.</p>

<p>&nbsp;Despite the need to encourage decentralized development for the sake of implementation of federalism, the government has discouraged it, said Garg. Even if the ratio is decreased in the capitals of federal provinces, it should not be decreased in the Kathmandu valley, suggested Garg.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5969',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '6185',
			'article_category_id' => '1',
			'title' => 'Jebils Finance to issue 40% Right Shares',
			'sub_title' => '',
			'summary' => 'Jebils Finance has decided to further issue 40 percent right shares to its shareholders.',
			'content' => '<p>July 10: Jebils Finance has decided to further issue 40 percent right shares to its shareholders.</p>

<p>The Special General Meeting of the finance held on July 7 has approved the proposal to issue the right shares after issuance of already declared rights shares in the ratio of 1:1.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5968',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6183',
			'article_category_id' => '1',
			'title' => 'Transportation in Rukum Gets a Boost',
			'sub_title' => '',
			'summary' => 'The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.',
			'content' => '<p>July 10: The transportation sector in Rukum has got a boost with an investment of around Rs 1 billion.</p>

<p>According to transportation entrepreneurs of the district, Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Rukum Yatayat Pvt Ltd, Prafi Yatayat Pvt Ltd and Sanibheri Yatayat Committee operating in the district have made such huge investment.</p>

<p>Sisne Himal Bus and Mini Bus Entrepreneurs Committee invested Rs 600 million, Rukum Yatayat around Rs 200 million and Prafi Yatayat and Sanibheri Yatayat together invested around Rs 200 million in the transportation sector of Rukum.</p>

<p>Investment in the district&rsquo;s transportation sector has increased significantly, said chairperson of Sisne Himal Bus and Mini Bus Entrepreneurs Committee, Janak Kumar Bantha.</p>

<p>Bir Bahadur Malla, general secretary of Sanibheri Yatayat, informed that there are altogether 250 small and big buses currently operating in the district.</p>

<p>Entrepreneurs are providing transportation service to Kathmandu, Banke, Bhaluwang and Tulsipur from Rukum district.</p>

<p>Similarly, the buses also operate in local routes in the rural areas such as Musikot-Radibajar, Musikot-Chaurjahari and Musikot-Taksera.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5967',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6182',
			'article_category_id' => '1',
			'title' => 'Global IME Acquires Reliable',
			'sub_title' => '',
			'summary' => 'Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.',
			'content' => '<p>July 10: Global IME Bank Ltd has started integrated transaction after acquiring Reliable Development Bank.</p>

<p>Finance Minister Gyanendra Bahadur Karki inaugurated the integrated transaction amid a program held on July 9. With this acquisition, Global IME has become the leading bank in Nepal to merge with or acquire 10 financial institutions.</p>

<p>After the acquisition, the bank&rsquo;s paid-up capital has reached Rs 8.08 billion, deposit to Rs 97.70 billion and loan to Rs 82 billion, as announced during the program.</p>

<p>Also, the bank now has 112 branches, representative offices in India and Australia, 114 ATM outlets, five extension counters and 46 branchless banking services.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5966',
			'image' => '20170710042233_global.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6181',
			'article_category_id' => '1',
			'title' => 'Century Starts Branchless Banking in Sarlahi',
			'sub_title' => '',
			'summary' => 'Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.',
			'content' => '<p>July 10: Century Commercial Bank (CCB) has started branchless banking service at Kabilashi-9 in Sarlahi district.</p>

<p>The service counter was launched amid a program held recently.&nbsp; The bank has been providing branchless banking service through 14 different locations in Bhojpur, Kailali, Morang, Khotang, Rautahat, Kanchanpur, Bardiya and Dhankuta districts so far.</p>

<p>The bank is currently providing banking services from 53 branches, 34 ATM outlets, 15 branchless banking and five extension counters.</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5965',
			'image' => null,
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6180',
			'article_category_id' => '1',
			'title' => 'Monetary Policy 2017/18',
			'sub_title' => '25 Percent Loan for Priority Areas ',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. ',
			'content' => '<p><strong>July 10: Nepal Rastra Bank (NRB) has made it mandatory for banks to loan out a minimum of 25 percent of their total loan to the areas of priority. Unveiling the Monetary Policy for Fiscal Year 2017/18 on July 9, the central bank said that the lending requirement has been raised from 20 percent to 25 percent.</strong></p>

<p><strong>According to the monetary policy, commercial banks will have to invest 10 percent of their total lending capacity in agriculture sector, 5 percent in hydropower projects, 5 percent in tourism and the remaining 5 percent in other priority areas. </strong></p>

<p><strong>NRB has said that the monetary policy will complement the budget of the upcoming fiscal year and will also help in regulating the banking and financial sector. However, banks have expressed displeasure toward the provision to regulate them. </strong></p>

<p><strong>While unveiling the monetary policy, NRB Governor Dr Nepal said that the high economic growth, low inflation and balance of payment have ignited new hopes in the economic sector of the country. Stating that the monetary policy is relevant in the present context, the central bank claimed that it would help in maintaining price stability. </strong></p>

<p><strong>It should be recalled that some of the strong measures taken by the central bank in the past had caused problems for the private sector as well as banks and financial institutions (BFIs). </strong></p>

<p><strong>The Monetary Policy for Fiscal Year 2017/18 has a target to keep the rate of increase in money supply within the limit of 18 percent. Keeping in view the general demand in the FY 2017/18 on the basis of projected economic growth rate and inflation rate, the total domestic credit is expected to rise by 27.8 percent.&nbsp; </strong></p>

<p><strong>Meanwhile, the central bank has increased the refinance fund from Rs 10.84 billion to Rs 20 billion. The central bank has made it clear that it will use its profit for this purpose.</strong></p>

<p><strong>NRB has also decided to provide re-loan to the hydropower projects in priority list from Rs 5 billion allocated for the Economic Revival Fund. NRB believes that this move would help the hydropower projects of strategic importance to obtain loan at subsidized rate.</strong></p>

<p><strong>Likewise, the monetary policy has removed the mandatory provision for banks to provide minimum 2 percent loan to the deprived sector. </strong></p>

<p><strong>BFIs will be entitled to get Rs 10 million interest-free loan for a period of one year from the central bank for opening new accounts in remote places. The BFIs which expand their branches to places where there are no banking service will get Rs 10 million interest-free loan for 2500 new accounts. This amount will be provided to such BFI&rsquo;s for helping the government&rsquo;s campaign to open account for every Nepali citizen. </strong></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-10',
			'modified' => '2017-07-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5964',
			'image' => '20170710020800_new.jpg',
			'article_date' => '2017-07-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6179',
			'article_category_id' => '1',
			'title' => 'King’s College Celebrates First Convocation',
			'sub_title' => '',
			'summary' => ' King’s College has celebrated its first convocation ceremony.',
			'content' => '<p>July 9: King&rsquo;s College has celebrated its first convocation ceremony.&nbsp; The event saw 206 students, 130 MBA graduates and 76 BBA graduates, earning their degrees from International American University and Westcliff University. The convocation ceremony was held at Hotel Yak and Yeti on July 7.</p>

<p>Students, guardians and teachers celebrated the occasion in the presence of Deputy Prime Minister and Minister for Education, Gopal Man Shrestha. Addressing the mass, Shrestha stressed on the need to put the knowledge and skills learned in colleges into creative and innovative works. He also stated that the ability to achieve international degree in Nepal itself is a great achievement. &ldquo;Such degrees provided in Nepal will help to curb the large number of students leaving the country each year for receiving international education,&rdquo; he said. Shrestha also talked about the initiatives of the Ministry of Education to improve the status of Nepal&rsquo;s education system. He suggested for the partnership of government and private sector for the betterment of the education sector.</p>

<p>Dr Guy Langvardt, president emeritus of International American University and Dr David McKinney, provost of Westcliff University gave statement of authority to their respective students.</p>

<p>Sanat Neupane, Director of King&rsquo;s College also addressed the audience and the college&rsquo;s chairman, Dr Som Prasad Pudasaini presented the students with awards for Spirit of Excellence. Meanwhile, Dr McKinney handed over the Valedictorian, Salutatorian and President awards and the Distinguished Faculty and Staff awards. It was followed by conferring of the degrees by Dr Langvardt and Dr McKinney.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5963',
			'image' => '20170709061450_kings.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6178',
			'article_category_id' => '1',
			'title' => 'NRB Bans Bill Discounting on Usance',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
			'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>

<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>

<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>

<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank&rsquo;s guarantee for payment.</p>

<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5962',
			'image' => '20170709054818_NRB.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6177',
			'article_category_id' => '1',
			'title' => 'Chaudhary Foundation Hands over Property to Trust',
			'sub_title' => '',
			'summary' => 'Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).',
			'content' => '<p>July 9: &nbsp;Chaudhary Foundation has handed over recently renovated monuments to the Pashupati Area Development Trust (PADT).</p>

<p>Binod Chaudhary, chairman of the foundation, handed over the monuments located &nbsp;at Vatsaleshwori temple area to the PADT Member Secretary Dr Govinda Tandon on July 7.</p>

<p>Chaudhary Foundation has proved itself to be a leader in both social and religious sectors by renovating the monuments, said Tandon. He also expressed his belief that this act by the foundation can be an inspiration to other organizations as well.</p>

<p>Chaudhary expressed his happiness on having contributed in renovation at Pashupatinath area, a major cultural heritage site and said they will continue to perform such activities in the future as well.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5961',
			'image' => '20170709044125_cg.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6176',
			'article_category_id' => '1',
			'title' => 'Sanima’s Branch at Maharajgunj',
			'sub_title' => '',
			'summary' => 'Sanima Bank has opened its branch at Maharajgunj of Kathmandu.',
			'content' => '<p>July 9: Sanima Bank has opened its branch at Maharajgunj of Kathmandu.</p>

<p>Brand ambassadors of the Bank, Madan Krishna Shrestha and Hari Bansha Acharya, jointly inaugurated the branch amid a program held on July 7.</p>

<p>Dr Subarna Das Shrestha, director of Sanima Bank, informed that the branch was opened with the objective of providing additional services to its customers.</p>

<p>CEO Bhuwan Dahal of the bank committed to provide the best banking service through its Maharajgunj branch. The bank now serves through 46 branches and 53 ATM outlets.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5960',
			'image' => '20170709041758_sanima.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6175',
			'article_category_id' => '1',
			'title' => 'Nepal Bank Meets Required Paid-up Capital',
			'sub_title' => '',
			'summary' => 'Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.  ',
			'content' => '<p>July 9: Nepal Bank Ltd has become successful in meeting the required Rs eight billion paid-up capital before the deadline of mid-July.</p>

<p>Nepal Bank is the second commercial bank to meet the paid-up capital requirement in the current fiscal year.</p>

<p>The bank led by CEO Devendra Pratap Shah since the past two years has been able to raise the paid-up capital to Rs 8.02 billion.</p>

<p>Government holds 62.55 percent ownership of the bank. Under the government&rsquo;s financial sector reform program, the bank was run under contract management while it for some time it was under the management of Nepal Rastra Bank. But since the last two years, Shah was appointed the CEO and the bank has been operating on the basis of free competition.</p>

<p>The bank is currently providing services through 131 branches and is planning to start providing smart banking services from 25 branches in the upcoming fiscal year, informed the bank.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5959',
			'image' => '20170709041505_nepal bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6174',
			'article_category_id' => '1',
			'title' => 'Kumari Bank Gifts Computers, Printers to school',
			'sub_title' => '',
			'summary' => ' Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.',
			'content' => '<p>July 9: Kumari Bank Ltd has gifted computers and printers to schools in Nawalparasi district.</p>

<p>Under its CSR programme, the bank recently provided computers and printers through the Rotary Club of Kathmandu North East.</p>

<p>Rajesh Shrestha, chief marketing officer of the bank, handed over the materials to Rotarian Manohar Raj Bhandari, director of the club.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5958',
			'image' => '20170709040337_kumari.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6173',
			'article_category_id' => '1',
			'title' => 'Financial Literacy Program by Himalayan',
			'sub_title' => '',
			'summary' => ' Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women’s Federation for World Peace and various other sectors.',
			'content' => '<p>July 9: Himalayan Bank recently organized an awareness campaign regarding financial matters for women associated with the Women&rsquo;s Federation for World Peace and various other sectors.</p>

<p>Under its Meet and Greet Campaign, the bank held the Financial and Basic Banking Awareness Program with a view to increase women&rsquo;s participation in the banking sector.</p>

<p>Altogether 90 women from various sectors participated in the program. This was the second such program conducted by the bank.</p>

<p>Ashok Shumsher JB Rana, CEO of the bank, said that women should achieve prosperity with the help of the banking sector.</p>

<p>He stressed on the necessity to increase women&rsquo;s participation in banking sector for the economic development of the country while pointing out the need to conduct such programs at the national level.</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5957',
			'image' => '20170709035719_himalayan bank.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6172',
			'article_category_id' => '1',
			'title' => 'JICA Announces Scholarships for Government Officials',
			'sub_title' => '',
			'summary' => ' Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.',
			'content' => '<p style="margin-left:8.0pt">July 9: Japan International Cooperation Agency (JICA) has announced to provide scholarships to government officials of Nepal who are engaged in formulating and implementing socio-economic development plans.</p>

<p style="margin-left:8.0pt">Issuing a press release on July 7, JICA said it will extend grant assistance up to Rs 257 million (282 million Japanese yen) under the Grant Aid scheme of &ldquo;the Project for Human Resource&nbsp; Development Scholarship: JDS&rdquo; for the fiscal year 2017/18.</p>

<p style="margin-left:8.0pt">According to the press statement, JDS offers 2-year scholarship to 20 government officials of Nepal who are engaged in formulating and implementing socio-economic development planning and to study at a graduate school in Japan for Master&rsquo;s Degree, with an objective to resolve development challenges in Nepal.</p>

<p style="margin-left:8.0pt">The press further said that the grant agreement for the project was signed and exchanged between Baikuntha Aryal, joint secretary at the Ministry of Finance, on behalf of the Government of Nepal and Jun Sakuma, chief representative of JICA Nepal during a function held at the Ministry of Finance, Singha Durbar.</p>

<p style="margin-left:8.0pt">According to JICA, JDS is implemented in&nbsp; 13 countries since 1999 for supporting the human resource development of the countries targeting highly capable, young government officials and others who are potential future leaders of the partner countries. More than 3,700 officials have studied in Japan under this scholarship.</p>

<p style="margin-left:8.0pt">During the occasion Jun Sakuma further expressed that, &ldquo;We are hopeful all the scholars will contribute to the development process of Nepal once they come back after completing their education in Japan.&rdquo; This agreement expects to expand and enhance the foundation for bilateral relations between Japan and Nepal by means of accepting them in Japanese Universities as overseas students.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-09',
			'modified' => '2017-07-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5956',
			'image' => '20170709020339_JICA.jpg',
			'article_date' => '2017-07-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117