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';



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		'Article' => array(
			'id' => '6156',
			'article_category_id' => '1',
			'title' => 'Fewa and Gandaki Start Integrated Transaction',
			'sub_title' => '',
			'summary' => 'Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. ',
			'content' => '<p>July 6: Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. After the merger, the paid-up capital of the bank, which will operate in the name of Gandaki Bikas Bank, has reached Rs 1.84 billion, according to the bank&rsquo;s CEO Resham Bahadur Thapa. The bank has set a target of meeting the paid-up capital requirement of 2.5 billion set for development banks within the current fiscal year after issuing 25 percent right shares. After the merger, the bank&rsquo;s deposit has reached more than Rs 18 billion while it has loaned out more than Rs 16 billion, informed Thapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5940',
			'image' => null,
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
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			'id' => '6155',
			'article_category_id' => '1',
			'title' => 'Life Insurance Fund Grows by 24 Percent',
			'sub_title' => '',
			'summary' => 'The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. ',
			'content' => '<p>July 6: The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. The financial reports of the third quarter published by the insurance companies show that the fund has amounted to Rs 1,278 billion by mid-April. The amount was Rs 1,034 billion in the same period of last FY.</p>

<p>The life insurance companies have been generating more income of late with the rise in the number of people purchasing insurance policy. As a result, the life insurance fund has also increased, say informed sources.</p>

<p>Vice President of Nepal Insurers&rsquo; Association and CEO of Nepal Life Insurance Company Bivek Jha says that the premium collected from policyholders is not their actual income as they have obligation to refund the amount. &nbsp;</p>

<p>&ldquo;Insurance companies have to refund the amount to the policyholders after the agreed period of time. And there is also risk of paying the amount if any of the insured person dies,&rdquo; says Jha.</p>

<p>&ldquo;If our cost incurred is less than the premium that we collect then only the amount goes to the life insurance fund. In such case, 90 percent of the amount goes to the life insurance fund. The remaining 10 percent would amount to either profit or loss but generally it is profit,&rdquo; he added.</p>

<p>According to CEO Jha, a rise of 28.96 percent in Nepal Life Insurance Company&rsquo;s fund compared to the last year indicates an increase in its business. &nbsp;&nbsp;</p>

<p>Likewise, during the same period, Surya Life Insurance Company recorded a 50.70 percent rise in its life insurance fund. The company had been able to add the amount to its fund after deducting its operating cost.</p>

<p>On the other hand, National Insurance Company&rsquo;s fund incurred a loss of 2.74 percent.</p>

<p>Other companies to record gains are Gurans Life Insurance Company (40.92 %), Prime Life Insurance (35.91 %), Asian Life Insurance (30.40 %), Life Insurance Corporation Nepal (29.70 %), National Life Insurance (18.80 %) and MetLife Insurance (15.12 %).</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5939',
			'image' => '20170706033627_life.jpg',
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6154',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Increasing Due to Rise in Imports',
			'sub_title' => '',
			'summary' => 'Nepal has been incurring loss in foreign trade due to the big gap between import and export. ',
			'content' => '<p>July 6: Nepal has been incurring loss in foreign trade due to the big gap between import and export. Although there has been a little improvement in export of goods, the excessive increase in import is the reason behind the ever growing trade deficit.</p>

<p>According to data provided by the Trade and Export Promotion Center, there has been an increase in import by 28 percent in the 11 months of the current fiscal year 2016/17 while the export has gone up only by six percent in the same period.</p>

<p>As a result, the trade deficit during the period had increased by 30.3 percent and reached Rs 826 billion. This indicates that the country&rsquo;s foreign trade deficit has become appalling in the recent years.</p>

<p>Experts say that the import of luxurious goods has been increasing every year but the export hasn&rsquo;t increased in the same proportion, resulting in the trade deficit.</p>

<p>The total transaction of foreign trade in the 11 months of the current fiscal year has reached Rs 960 billion. Data provided by the center shows that foreign trade in the current fiscal year has increased by 26.2 percent as compared to the same period of last fiscal year. There were transactions worth Rs 761 billion in foreign trade in the first 11 months of the last fiscal year.</p>

<p>The country has been importing goods to a large extent as the internal market hasn&rsquo;t been able to meet the demands of the people due to lack of increase in production in the domestic market and investment-friendly environment in the country. Officials at the center say that the balance between import and export has been affected due to these factors.</p>

<p>According to the center, the country imported goods worth Rs 893 billion in the first 11 months of the current fiscal year. The amount of goods imported from India was 65.5 percent of the total imports while that from China was 13.1 percent. Likewise, Nepal imported 21.4 percent of the total goods from third countries.</p>

<p>The chief supplies from India, which tops the list of goods suppliers to Nepal, include petroleum products, vehicle and machinery spare parts among other goods. Likewise, Nepal mostly imports telecommunication equipment, electrical appliances, machinery parts, apples and chemicals from northern neighbour China.</p>

<p>Medicines, raw silk, gold, silver, raw materials of plastic, chocolate top the list of goods imported from other countries.</p>

<p>Meanwhile, the export of goods during the first 11 months of the current fiscal year increased by 5.8 percent to Rs 67.36 billion as compared to the last fiscal year, when the country had exported goods worth Rs 63.65 billion to various countries.&nbsp;</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5938',
			'image' => '20170706020803_Trade.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6153',
			'article_category_id' => '1',
			'title' => 'Transactions More Than Rs 1 million only Through Cheque',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque.',
			'content' => '<p>July 6: Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque. The new rule comes into effect from July 16.</p>

<p>NRB has issued such circular to all the concerned bodies to conduct transactions of Rs 1 million or more only under the watch of banks and financial institutions.</p>

<p>This rule applies to individuals, firms, companies or institutions. According to the NRB, even deposit or payment of loans of such scale cannot be done through cash under normal circumstances after the rule comes into effect.</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5937',
			'image' => '20170706122337_NRB.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '6152',
			'article_category_id' => '1',
			'title' => 'Tourist Destinations in Myagdi Awaiting Recognition',
			'sub_title' => '',
			'summary' => ' Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance.',
			'content' => '<p>July 6: Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance. However, five such potential places of the district remain unknown to the tourists due to lack of publicity. Infrastructure development and exposure can make those places probable tourist destinations.</p>

<p>Tamakot of Dhaulagiri Rural Municipality; Bhalebasne (cock-a-doodle do) lake of Malika Rural Municipality; Jagannath Dham and Dholthan of Beni Municipality-9; and Jyamrukot of Beni Municipality-2 are some of the places of the district that has the possibility to attract tourists but people hardly know about them. There is transportation service from the district headquarters Beni to reach all of these places. However, there is a need to develop infrastructures and awareness to attract tourists and pilgrims to these places. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5936',
			'image' => '20170706120537_myagdi.jpg',
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6151',
			'article_category_id' => '1',
			'title' => 'LIC Nepal hands over Insurance Proceeds',
			'sub_title' => '',
			'summary' => ' LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.',
			'content' => '<p>July 5: LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.</p>

<p>The company&#39;s Pokhara branch chief Ganesh Upreti handed over around Rs 5.68 million to the victim&rsquo;s father Gam Bahadur Gurung, after visiting his home at Milanchowk in Pokhara- Lekhnath-15, recently.</p>

<p>Late Gurung had bought an insurance policy worth Rs 2.6 million in 2016, and had paid a premium of only Rs 514,020 in three installments.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5935',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '6150',
			'article_category_id' => '1',
			'title' => 'NAC bags ISAGO Certificate',
			'sub_title' => '',
			'summary' => 'The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.',
			'content' => '<p>July 5: The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.</p>

<p>NAC received this certificate of international standard for its outstanding ground-handling performance.</p>

<p>This achievement will further help enhance the organization&rsquo;s business, claimed Rabindra Shrestha, spokesperson of NAC.</p>

<p>&nbsp;ISAGO certifies the airlines companies that guarantee safer ground operations.</p>

<p>International Air Transport Association (IATA) awarded the certificate to NAC for its ground service being provided at Tribhuvan International Airport (TIA).</p>

<p>IATA presented the certificate to NAC a few months ago and its validity period is for two years informed Shailesh Kansakar, assistant spokesman of NAC.</p>

<p>NAC currently employs more than 900 staffers at TIA in various departments such as ground-handling, engineering, cash, flight safety and quality control.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5934',
			'image' => '20170705040359_Nepal-Airlines01.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '6149',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Chairman Takes Oath',
			'sub_title' => '',
			'summary' => ' Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.',
			'content' => '<p>July 5: Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.</p>

<p>Upadhayay took the oath in the presence of NRB official as per the requirement of the Banks and Financial Institutions Act- 2073 BS.</p>

<p>Upadhyay was elected as chairman of the bank after the merger of Yeti Development Bank and Mahalaxmi Bikas Bank.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5933',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 8 => array(
		'Article' => array(
			'id' => '6148',
			'article_category_id' => '1',
			'title' => 'Free Eye Check-up by Machhapuchchhre',
			'sub_title' => '',
			'summary' => 'The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.',
			'content' => '<p>July 5: The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.</p>

<p>A total of 163 people benefitted from the eye camp while spectacles were distributed free of cost to 49 people along with medicines.</p>

<p>The eye camp also referred 12 people for free cataract operation at Bharatpur Eye Hospital. The eye camp was organized as part of the bank&rsquo;s corporate social responsibility.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5932',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6147',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Opens Branch in Hetauda:',
			'sub_title' => '',
			'summary' => ' Siddhartha Development Bank has opened a branch in Hetauda. ',
			'content' => '<p>July 5: Siddhartha Development Bank has opened a branch in Hetauda. &nbsp;Hari Bahadur Mahat, mayor of Hetauda Sub-metropolitan City inaugurated the branch amid a program on July 4.</p>

<p>&nbsp;Banks should invest more in development projects than in commercial loans, said Rajkumar Neupane, president of the Hetauda chapter of Federation of Nepalese Chamber of Commerce and Industry.&nbsp;</p>

<p>Ram Bahadur Bhandari, chairman of the bank, also inaugurated its ATM outlet during the program.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5931',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 10 => array(
		'Article' => array(
			'id' => '6146',
			'article_category_id' => '1',
			'title' => 'Stakeholders Stress on Tourism Development for Nepal’s Prosperity',
			'sub_title' => '',
			'summary' => ' Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. ',
			'content' => '<p>July 5: Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. According to them, this sector has immense potential but the country has not been able to benefit from it.</p>

<p>The participants shared such views during an interaction on &lsquo;Nepal&rsquo;s tourism promotion in Asian countries&rsquo; organized by GP Koirala Foundation on the occasion of the late prime minister&rsquo;s 94<sup>th</sup> birth anniversary.</p>

<p>Speaking at the function, Finance Minister Gyanendra Bahadur Karki said Nepal holds immense potential in tourism sector that it was possible to achieve economic growth and create employment opportunities through tourism sector.</p>

<p>Nepali Congress leader and president of the foundation, Sujata Koirala, said that the time has come for us to implement the constitution and head toward economic prosperity.</p>

<p>Secretary at the Ministry of Culture, Tourism and Civil Aviation, Shankar Prasad Adhikari, stressed the need of connectivity with Asian countries as they contribute in 60 percent of tourists visiting Nepal.</p>

<p>Deepak Raj Joshi, chief executive officer of Nepal Tourism Board, informed that nearly 10 billion tourists set our on their journeys across the world every year.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5930',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
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	(int) 11 => array(
		'Article' => array(
			'id' => '6145',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Down this Year',
			'sub_title' => '',
			'summary' => ' Rs100 billion less than  last FY',
			'content' => '<p>Foreign Direct Investment (FDI) in Nepal has gone down in the current fiscal year 2016-2017. Compared to the last fiscal year, foreign investment has drastically gone down this year. During the last fiscal year, foreign investment had decreased as a result of the devastating earthquake and blockade. However, this year it was expected to rise after the formation of laws related to investment, International Investment Summit, Infrastructure Summit and some other positive indicators.</p>

<p>Investors from different countries had also pledged to invest more than Rs 1400 billion during the International Investment Summit about four months ago, but those commitments haven&rsquo;t materialized yet.</p>

<p>During the last FY, foreign investment in Nepal was Rs 1525 billion. However, now the investment is just Rs 1420 billion. The amount is Rs 104 billion less than the previous year.</p>

<p>Foreign investment in Nepal couldn&rsquo;t increase in the current fiscal year as the country was still reeling under the effects of the earthquake and blockade of 2015, according to Shekhar Golchha, senior vice-president of FNCCI.</p>

<p>&ldquo;In terms of investment, there is relatively a better environment as compared to the past. The energy crisis has been solved to a great extent. Now, the effects of the blockade and earthquake will not last long. We can hope of increase in foreign investment in soon now,&rdquo; said Golchha.</p>

<p>Shankar Aryal, director general of the Department of Industry, said it was a matter of concern that Nepal has not able to attract foreign investment despite having favorable environment.</p>

<p>&quot;The government is trying its best to increase foreign investment.&nbsp; So, the effort of this year may bring good results in investment in the next year,&quot; he said.</p>

<p>Till date, investors from 91 countries have invested in Nepal. According to the statistics of DoI, the total foreign investment that Nepal has received till now is Rs 212 billion.</p>

<p>Foreign investment from the following countries has decreased:</p>

<p>Australia, Austria, Brazil, British Virgin Islands, China (main territory), Denmark, Japan, the Philippines, Russia, Singapore, Switzerland, Turkey, Great Britain,&nbsp; America, Columbia, Greece, Lebanon, Mauritius, Norway, Poland, Romania, Sweden, Syria, Yemen.</p>

<p>Foreign investment from the following countries has increased:</p>

<p>Bangladesh, Belgium, Canada, Hong Kong, Taiwan, Cyprus, France, Germany, India, Israel, Italy, Malaysia, Mexico, Netherlands (Antilles), Nigeria, Pakistan, Samoa, Saudi Arabia, South Korea, Spain, Thailand, The Netherlands.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5929',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 12 => array(
		'Article' => array(
			'id' => '6144',
			'article_category_id' => '1',
			'title' => 'Airlines Operators Slice Internal Air Fare',
			'sub_title' => '',
			'summary' => 'Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.',
			'content' => '<p>July 5: Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.</p>

<p>Nepal Oil Corporation (NOC) had reduced the aviation fuel price by Rs 4 per liter a few days ago. Following the move, a meeting of the Airlines Operators Association of Nepal (AOAN) on June 4 decided to adjust the internal flight rates as per the reduced aviation fuel. According to Ghanashyam Acharya, spokesperson of AOAN, the new air fares will come into effect from July 5.</p>

<p>The air fares have been decreased by a minimum of Rs 45 to the maximum of Rs 200 with following the decision made by AOAN. Similarly, mountain flight fares will be less by Rs 238. The mountain flight fares which used to be Rs 11,000 earlier has fall to Rs 10,862.</p>

<p>NOC sliced the prices of petroleum products since July 2 as per the international rate. The new rate of aviation fuel is Rs 82, four rupees less from the earlier rate of Rs 86.&nbsp;</p>
',
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			'created' => '2017-07-05',
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			'keywords' => '',
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			'sortorder' => '5928',
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		'Article' => array(
			'id' => '6142',
			'article_category_id' => '1',
			'title' => 'Govt Plan to Set Up Fuel Storage Facilities in Limbo',
			'sub_title' => '',
			'summary' => 'The government’s proposed plan to increase the storage capacity of petroleum products has been limited to paper works.',
			'content' => '<p>July 5: The government&rsquo;s proposed plan to increase the storage capacity of petroleum products has been limited to paper works. As per the proposal, the government is preparing to create storage facilities of fuel for up to three months. However, the plan is in limbo as the government has not been able to acquire the land required for the purpose.</p>

<p>Currently, Nepal has the capacity to store fuel only for 17 days. Although the government had made a commitment to set up facilities to store fuel for at least 90 days during the budget announcement of last fiscal year, no concrete steps has been taken to this end.</p>

<p>Nepal Oil Corporation (NOC)&rsquo;s Spokesperson Sitaram Pokharel said that this plan has hit a snag as the process to acquire lands in all seven provinces for the storage facilities has not yet gained any pace.</p>

<p>&ldquo;We had issued a tender notice for land required in all seven provinces for the storage facilities,&rdquo; said Pokharel, &ldquo;But we couldn&rsquo;t find land suitable for the purpose. This has also delayed the re-tender process.&rdquo;</p>

<p>Officials at the NOC informed that the state-run oil corporation has already purchased 50 bighas of land in Chitwan, 20 bighas in Jhapa and 17 bighas in Sarlahi but it is yet to buy land in other places. NOC officials further said that they will soon initiate the process to buy lands in other places.</p>

<p>Keeping in view the growing demand for petroleum products of late, the government had decided to create storage facilities for 424,000 kiloliters of fuel. Although the government has agreed in principle to set up such facilities, the process has been delayed due to various reasons.</p>

<p>NOC officials have identified the need for pipeline transfer of petroleum products to ease the supply chain, but, for this, it is essential to set up the storage facilities. At present, the consumers in Nepal have been facing crisis even if the supply of fuel is obstructed for a few days. &nbsp;</p>

<p>NOC officials informed that they have already spent Rs 5 billion for purchasing land. An additional Rs 10 billion is required for construction of depots, according to sources.&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5926',
			'image' => '20170705013752_noc.jpg',
			'article_date' => '2017-07-05 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '6141',
			'article_category_id' => '1',
			'title' => 'Two Finance Companies Merge with Civil Bank',
			'sub_title' => '',
			'summary' => ' Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.',
			'content' => '<p>July 4: Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.</p>

<p>Speaking at the inauguration of integrated transaction of Civil Bank after merger with Hama Merchant and Finance Company and Unique Finance Company, Governor Nepal also said that the bank&rsquo;s contribution in providing financial access to rural communities is indispensable.</p>

<p>Mergers with various banks and financial institutions (BFIs) help to strengthen transactions and to invest in large projects and industrial businesses, said Govinda Gurung, CEO of Civil Bank.</p>

<p>The bank now has 53 branches. The paid-up capital of the bank has increased to Rs 5.18 billion, deposit to Rs 34.97 billion and lending has increased to Rs 31.22 billion, informed the CEO.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '5925',
			'image' => '20170704042557_civil bank.jpg',
			'article_date' => '2017-07-04 00:00:00',
			'homepage' => false,
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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
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6156',
			'article_category_id' => '1',
			'title' => 'Fewa and Gandaki Start Integrated Transaction',
			'sub_title' => '',
			'summary' => 'Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. ',
			'content' => '<p>July 6: Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. After the merger, the paid-up capital of the bank, which will operate in the name of Gandaki Bikas Bank, has reached Rs 1.84 billion, according to the bank&rsquo;s CEO Resham Bahadur Thapa. The bank has set a target of meeting the paid-up capital requirement of 2.5 billion set for development banks within the current fiscal year after issuing 25 percent right shares. After the merger, the bank&rsquo;s deposit has reached more than Rs 18 billion while it has loaned out more than Rs 16 billion, informed Thapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5940',
			'image' => null,
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6155',
			'article_category_id' => '1',
			'title' => 'Life Insurance Fund Grows by 24 Percent',
			'sub_title' => '',
			'summary' => 'The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. ',
			'content' => '<p>July 6: The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. The financial reports of the third quarter published by the insurance companies show that the fund has amounted to Rs 1,278 billion by mid-April. The amount was Rs 1,034 billion in the same period of last FY.</p>

<p>The life insurance companies have been generating more income of late with the rise in the number of people purchasing insurance policy. As a result, the life insurance fund has also increased, say informed sources.</p>

<p>Vice President of Nepal Insurers&rsquo; Association and CEO of Nepal Life Insurance Company Bivek Jha says that the premium collected from policyholders is not their actual income as they have obligation to refund the amount. &nbsp;</p>

<p>&ldquo;Insurance companies have to refund the amount to the policyholders after the agreed period of time. And there is also risk of paying the amount if any of the insured person dies,&rdquo; says Jha.</p>

<p>&ldquo;If our cost incurred is less than the premium that we collect then only the amount goes to the life insurance fund. In such case, 90 percent of the amount goes to the life insurance fund. The remaining 10 percent would amount to either profit or loss but generally it is profit,&rdquo; he added.</p>

<p>According to CEO Jha, a rise of 28.96 percent in Nepal Life Insurance Company&rsquo;s fund compared to the last year indicates an increase in its business. &nbsp;&nbsp;</p>

<p>Likewise, during the same period, Surya Life Insurance Company recorded a 50.70 percent rise in its life insurance fund. The company had been able to add the amount to its fund after deducting its operating cost.</p>

<p>On the other hand, National Insurance Company&rsquo;s fund incurred a loss of 2.74 percent.</p>

<p>Other companies to record gains are Gurans Life Insurance Company (40.92 %), Prime Life Insurance (35.91 %), Asian Life Insurance (30.40 %), Life Insurance Corporation Nepal (29.70 %), National Life Insurance (18.80 %) and MetLife Insurance (15.12 %).</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5939',
			'image' => '20170706033627_life.jpg',
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6154',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Increasing Due to Rise in Imports',
			'sub_title' => '',
			'summary' => 'Nepal has been incurring loss in foreign trade due to the big gap between import and export. ',
			'content' => '<p>July 6: Nepal has been incurring loss in foreign trade due to the big gap between import and export. Although there has been a little improvement in export of goods, the excessive increase in import is the reason behind the ever growing trade deficit.</p>

<p>According to data provided by the Trade and Export Promotion Center, there has been an increase in import by 28 percent in the 11 months of the current fiscal year 2016/17 while the export has gone up only by six percent in the same period.</p>

<p>As a result, the trade deficit during the period had increased by 30.3 percent and reached Rs 826 billion. This indicates that the country&rsquo;s foreign trade deficit has become appalling in the recent years.</p>

<p>Experts say that the import of luxurious goods has been increasing every year but the export hasn&rsquo;t increased in the same proportion, resulting in the trade deficit.</p>

<p>The total transaction of foreign trade in the 11 months of the current fiscal year has reached Rs 960 billion. Data provided by the center shows that foreign trade in the current fiscal year has increased by 26.2 percent as compared to the same period of last fiscal year. There were transactions worth Rs 761 billion in foreign trade in the first 11 months of the last fiscal year.</p>

<p>The country has been importing goods to a large extent as the internal market hasn&rsquo;t been able to meet the demands of the people due to lack of increase in production in the domestic market and investment-friendly environment in the country. Officials at the center say that the balance between import and export has been affected due to these factors.</p>

<p>According to the center, the country imported goods worth Rs 893 billion in the first 11 months of the current fiscal year. The amount of goods imported from India was 65.5 percent of the total imports while that from China was 13.1 percent. Likewise, Nepal imported 21.4 percent of the total goods from third countries.</p>

<p>The chief supplies from India, which tops the list of goods suppliers to Nepal, include petroleum products, vehicle and machinery spare parts among other goods. Likewise, Nepal mostly imports telecommunication equipment, electrical appliances, machinery parts, apples and chemicals from northern neighbour China.</p>

<p>Medicines, raw silk, gold, silver, raw materials of plastic, chocolate top the list of goods imported from other countries.</p>

<p>Meanwhile, the export of goods during the first 11 months of the current fiscal year increased by 5.8 percent to Rs 67.36 billion as compared to the last fiscal year, when the country had exported goods worth Rs 63.65 billion to various countries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5938',
			'image' => '20170706020803_Trade.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 3 => array(
		'Article' => array(
			'id' => '6153',
			'article_category_id' => '1',
			'title' => 'Transactions More Than Rs 1 million only Through Cheque',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque.',
			'content' => '<p>July 6: Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque. The new rule comes into effect from July 16.</p>

<p>NRB has issued such circular to all the concerned bodies to conduct transactions of Rs 1 million or more only under the watch of banks and financial institutions.</p>

<p>This rule applies to individuals, firms, companies or institutions. According to the NRB, even deposit or payment of loans of such scale cannot be done through cash under normal circumstances after the rule comes into effect.</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5937',
			'image' => '20170706122337_NRB.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '6152',
			'article_category_id' => '1',
			'title' => 'Tourist Destinations in Myagdi Awaiting Recognition',
			'sub_title' => '',
			'summary' => ' Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance.',
			'content' => '<p>July 6: Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance. However, five such potential places of the district remain unknown to the tourists due to lack of publicity. Infrastructure development and exposure can make those places probable tourist destinations.</p>

<p>Tamakot of Dhaulagiri Rural Municipality; Bhalebasne (cock-a-doodle do) lake of Malika Rural Municipality; Jagannath Dham and Dholthan of Beni Municipality-9; and Jyamrukot of Beni Municipality-2 are some of the places of the district that has the possibility to attract tourists but people hardly know about them. There is transportation service from the district headquarters Beni to reach all of these places. However, there is a need to develop infrastructures and awareness to attract tourists and pilgrims to these places. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5936',
			'image' => '20170706120537_myagdi.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '6151',
			'article_category_id' => '1',
			'title' => 'LIC Nepal hands over Insurance Proceeds',
			'sub_title' => '',
			'summary' => ' LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.',
			'content' => '<p>July 5: LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.</p>

<p>The company&#39;s Pokhara branch chief Ganesh Upreti handed over around Rs 5.68 million to the victim&rsquo;s father Gam Bahadur Gurung, after visiting his home at Milanchowk in Pokhara- Lekhnath-15, recently.</p>

<p>Late Gurung had bought an insurance policy worth Rs 2.6 million in 2016, and had paid a premium of only Rs 514,020 in three installments.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5935',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '6150',
			'article_category_id' => '1',
			'title' => 'NAC bags ISAGO Certificate',
			'sub_title' => '',
			'summary' => 'The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.',
			'content' => '<p>July 5: The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.</p>

<p>NAC received this certificate of international standard for its outstanding ground-handling performance.</p>

<p>This achievement will further help enhance the organization&rsquo;s business, claimed Rabindra Shrestha, spokesperson of NAC.</p>

<p>&nbsp;ISAGO certifies the airlines companies that guarantee safer ground operations.</p>

<p>International Air Transport Association (IATA) awarded the certificate to NAC for its ground service being provided at Tribhuvan International Airport (TIA).</p>

<p>IATA presented the certificate to NAC a few months ago and its validity period is for two years informed Shailesh Kansakar, assistant spokesman of NAC.</p>

<p>NAC currently employs more than 900 staffers at TIA in various departments such as ground-handling, engineering, cash, flight safety and quality control.</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5934',
			'image' => '20170705040359_Nepal-Airlines01.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '6149',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Chairman Takes Oath',
			'sub_title' => '',
			'summary' => ' Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.',
			'content' => '<p>July 5: Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.</p>

<p>Upadhayay took the oath in the presence of NRB official as per the requirement of the Banks and Financial Institutions Act- 2073 BS.</p>

<p>Upadhyay was elected as chairman of the bank after the merger of Yeti Development Bank and Mahalaxmi Bikas Bank.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5933',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 8 => array(
		'Article' => array(
			'id' => '6148',
			'article_category_id' => '1',
			'title' => 'Free Eye Check-up by Machhapuchchhre',
			'sub_title' => '',
			'summary' => 'The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.',
			'content' => '<p>July 5: The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.</p>

<p>A total of 163 people benefitted from the eye camp while spectacles were distributed free of cost to 49 people along with medicines.</p>

<p>The eye camp also referred 12 people for free cataract operation at Bharatpur Eye Hospital. The eye camp was organized as part of the bank&rsquo;s corporate social responsibility.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5932',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6147',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Opens Branch in Hetauda:',
			'sub_title' => '',
			'summary' => ' Siddhartha Development Bank has opened a branch in Hetauda. ',
			'content' => '<p>July 5: Siddhartha Development Bank has opened a branch in Hetauda. &nbsp;Hari Bahadur Mahat, mayor of Hetauda Sub-metropolitan City inaugurated the branch amid a program on July 4.</p>

<p>&nbsp;Banks should invest more in development projects than in commercial loans, said Rajkumar Neupane, president of the Hetauda chapter of Federation of Nepalese Chamber of Commerce and Industry.&nbsp;</p>

<p>Ram Bahadur Bhandari, chairman of the bank, also inaugurated its ATM outlet during the program.</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-05',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '5931',
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			'article_date' => '2017-07-05 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '6146',
			'article_category_id' => '1',
			'title' => 'Stakeholders Stress on Tourism Development for Nepal’s Prosperity',
			'sub_title' => '',
			'summary' => ' Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. ',
			'content' => '<p>July 5: Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. According to them, this sector has immense potential but the country has not been able to benefit from it.</p>

<p>The participants shared such views during an interaction on &lsquo;Nepal&rsquo;s tourism promotion in Asian countries&rsquo; organized by GP Koirala Foundation on the occasion of the late prime minister&rsquo;s 94<sup>th</sup> birth anniversary.</p>

<p>Speaking at the function, Finance Minister Gyanendra Bahadur Karki said Nepal holds immense potential in tourism sector that it was possible to achieve economic growth and create employment opportunities through tourism sector.</p>

<p>Nepali Congress leader and president of the foundation, Sujata Koirala, said that the time has come for us to implement the constitution and head toward economic prosperity.</p>

<p>Secretary at the Ministry of Culture, Tourism and Civil Aviation, Shankar Prasad Adhikari, stressed the need of connectivity with Asian countries as they contribute in 60 percent of tourists visiting Nepal.</p>

<p>Deepak Raj Joshi, chief executive officer of Nepal Tourism Board, informed that nearly 10 billion tourists set our on their journeys across the world every year.</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5930',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '6145',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Down this Year',
			'sub_title' => '',
			'summary' => ' Rs100 billion less than  last FY',
			'content' => '<p>Foreign Direct Investment (FDI) in Nepal has gone down in the current fiscal year 2016-2017. Compared to the last fiscal year, foreign investment has drastically gone down this year. During the last fiscal year, foreign investment had decreased as a result of the devastating earthquake and blockade. However, this year it was expected to rise after the formation of laws related to investment, International Investment Summit, Infrastructure Summit and some other positive indicators.</p>

<p>Investors from different countries had also pledged to invest more than Rs 1400 billion during the International Investment Summit about four months ago, but those commitments haven&rsquo;t materialized yet.</p>

<p>During the last FY, foreign investment in Nepal was Rs 1525 billion. However, now the investment is just Rs 1420 billion. The amount is Rs 104 billion less than the previous year.</p>

<p>Foreign investment in Nepal couldn&rsquo;t increase in the current fiscal year as the country was still reeling under the effects of the earthquake and blockade of 2015, according to Shekhar Golchha, senior vice-president of FNCCI.</p>

<p>&ldquo;In terms of investment, there is relatively a better environment as compared to the past. The energy crisis has been solved to a great extent. Now, the effects of the blockade and earthquake will not last long. We can hope of increase in foreign investment in soon now,&rdquo; said Golchha.</p>

<p>Shankar Aryal, director general of the Department of Industry, said it was a matter of concern that Nepal has not able to attract foreign investment despite having favorable environment.</p>

<p>&quot;The government is trying its best to increase foreign investment.&nbsp; So, the effort of this year may bring good results in investment in the next year,&quot; he said.</p>

<p>Till date, investors from 91 countries have invested in Nepal. According to the statistics of DoI, the total foreign investment that Nepal has received till now is Rs 212 billion.</p>

<p>Foreign investment from the following countries has decreased:</p>

<p>Australia, Austria, Brazil, British Virgin Islands, China (main territory), Denmark, Japan, the Philippines, Russia, Singapore, Switzerland, Turkey, Great Britain,&nbsp; America, Columbia, Greece, Lebanon, Mauritius, Norway, Poland, Romania, Sweden, Syria, Yemen.</p>

<p>Foreign investment from the following countries has increased:</p>

<p>Bangladesh, Belgium, Canada, Hong Kong, Taiwan, Cyprus, France, Germany, India, Israel, Italy, Malaysia, Mexico, Netherlands (Antilles), Nigeria, Pakistan, Samoa, Saudi Arabia, South Korea, Spain, Thailand, The Netherlands.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-05',
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			'description' => '',
			'sortorder' => '5929',
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		'Article' => array(
			'id' => '6144',
			'article_category_id' => '1',
			'title' => 'Airlines Operators Slice Internal Air Fare',
			'sub_title' => '',
			'summary' => 'Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.',
			'content' => '<p>July 5: Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.</p>

<p>Nepal Oil Corporation (NOC) had reduced the aviation fuel price by Rs 4 per liter a few days ago. Following the move, a meeting of the Airlines Operators Association of Nepal (AOAN) on June 4 decided to adjust the internal flight rates as per the reduced aviation fuel. According to Ghanashyam Acharya, spokesperson of AOAN, the new air fares will come into effect from July 5.</p>

<p>The air fares have been decreased by a minimum of Rs 45 to the maximum of Rs 200 with following the decision made by AOAN. Similarly, mountain flight fares will be less by Rs 238. The mountain flight fares which used to be Rs 11,000 earlier has fall to Rs 10,862.</p>

<p>NOC sliced the prices of petroleum products since July 2 as per the international rate. The new rate of aviation fuel is Rs 82, four rupees less from the earlier rate of Rs 86.&nbsp;</p>
',
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			'created' => '2017-07-05',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '5928',
			'image' => '20170705021352_NOC.jpg',
			'article_date' => '2017-07-05 00:00:00',
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		'Article' => array(
			'id' => '6142',
			'article_category_id' => '1',
			'title' => 'Govt Plan to Set Up Fuel Storage Facilities in Limbo',
			'sub_title' => '',
			'summary' => 'The government’s proposed plan to increase the storage capacity of petroleum products has been limited to paper works.',
			'content' => '<p>July 5: The government&rsquo;s proposed plan to increase the storage capacity of petroleum products has been limited to paper works. As per the proposal, the government is preparing to create storage facilities of fuel for up to three months. However, the plan is in limbo as the government has not been able to acquire the land required for the purpose.</p>

<p>Currently, Nepal has the capacity to store fuel only for 17 days. Although the government had made a commitment to set up facilities to store fuel for at least 90 days during the budget announcement of last fiscal year, no concrete steps has been taken to this end.</p>

<p>Nepal Oil Corporation (NOC)&rsquo;s Spokesperson Sitaram Pokharel said that this plan has hit a snag as the process to acquire lands in all seven provinces for the storage facilities has not yet gained any pace.</p>

<p>&ldquo;We had issued a tender notice for land required in all seven provinces for the storage facilities,&rdquo; said Pokharel, &ldquo;But we couldn&rsquo;t find land suitable for the purpose. This has also delayed the re-tender process.&rdquo;</p>

<p>Officials at the NOC informed that the state-run oil corporation has already purchased 50 bighas of land in Chitwan, 20 bighas in Jhapa and 17 bighas in Sarlahi but it is yet to buy land in other places. NOC officials further said that they will soon initiate the process to buy lands in other places.</p>

<p>Keeping in view the growing demand for petroleum products of late, the government had decided to create storage facilities for 424,000 kiloliters of fuel. Although the government has agreed in principle to set up such facilities, the process has been delayed due to various reasons.</p>

<p>NOC officials have identified the need for pipeline transfer of petroleum products to ease the supply chain, but, for this, it is essential to set up the storage facilities. At present, the consumers in Nepal have been facing crisis even if the supply of fuel is obstructed for a few days. &nbsp;</p>

<p>NOC officials informed that they have already spent Rs 5 billion for purchasing land. An additional Rs 10 billion is required for construction of depots, according to sources.&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5926',
			'image' => '20170705013752_noc.jpg',
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			'id' => '6141',
			'article_category_id' => '1',
			'title' => 'Two Finance Companies Merge with Civil Bank',
			'sub_title' => '',
			'summary' => ' Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.',
			'content' => '<p>July 4: Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.</p>

<p>Speaking at the inauguration of integrated transaction of Civil Bank after merger with Hama Merchant and Finance Company and Unique Finance Company, Governor Nepal also said that the bank&rsquo;s contribution in providing financial access to rural communities is indispensable.</p>

<p>Mergers with various banks and financial institutions (BFIs) help to strengthen transactions and to invest in large projects and industrial businesses, said Govinda Gurung, CEO of Civil Bank.</p>

<p>The bank now has 53 branches. The paid-up capital of the bank has increased to Rs 5.18 billion, deposit to Rs 34.97 billion and lending has increased to Rs 31.22 billion, informed the CEO.</p>
',
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			'sortorder' => '5925',
			'image' => '20170704042557_civil bank.jpg',
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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
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$articles = array(
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		'Article' => array(
			'id' => '6156',
			'article_category_id' => '1',
			'title' => 'Fewa and Gandaki Start Integrated Transaction',
			'sub_title' => '',
			'summary' => 'Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. ',
			'content' => '<p>July 6: Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. After the merger, the paid-up capital of the bank, which will operate in the name of Gandaki Bikas Bank, has reached Rs 1.84 billion, according to the bank&rsquo;s CEO Resham Bahadur Thapa. The bank has set a target of meeting the paid-up capital requirement of 2.5 billion set for development banks within the current fiscal year after issuing 25 percent right shares. After the merger, the bank&rsquo;s deposit has reached more than Rs 18 billion while it has loaned out more than Rs 16 billion, informed Thapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5940',
			'image' => null,
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6155',
			'article_category_id' => '1',
			'title' => 'Life Insurance Fund Grows by 24 Percent',
			'sub_title' => '',
			'summary' => 'The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. ',
			'content' => '<p>July 6: The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. The financial reports of the third quarter published by the insurance companies show that the fund has amounted to Rs 1,278 billion by mid-April. The amount was Rs 1,034 billion in the same period of last FY.</p>

<p>The life insurance companies have been generating more income of late with the rise in the number of people purchasing insurance policy. As a result, the life insurance fund has also increased, say informed sources.</p>

<p>Vice President of Nepal Insurers&rsquo; Association and CEO of Nepal Life Insurance Company Bivek Jha says that the premium collected from policyholders is not their actual income as they have obligation to refund the amount. &nbsp;</p>

<p>&ldquo;Insurance companies have to refund the amount to the policyholders after the agreed period of time. And there is also risk of paying the amount if any of the insured person dies,&rdquo; says Jha.</p>

<p>&ldquo;If our cost incurred is less than the premium that we collect then only the amount goes to the life insurance fund. In such case, 90 percent of the amount goes to the life insurance fund. The remaining 10 percent would amount to either profit or loss but generally it is profit,&rdquo; he added.</p>

<p>According to CEO Jha, a rise of 28.96 percent in Nepal Life Insurance Company&rsquo;s fund compared to the last year indicates an increase in its business. &nbsp;&nbsp;</p>

<p>Likewise, during the same period, Surya Life Insurance Company recorded a 50.70 percent rise in its life insurance fund. The company had been able to add the amount to its fund after deducting its operating cost.</p>

<p>On the other hand, National Insurance Company&rsquo;s fund incurred a loss of 2.74 percent.</p>

<p>Other companies to record gains are Gurans Life Insurance Company (40.92 %), Prime Life Insurance (35.91 %), Asian Life Insurance (30.40 %), Life Insurance Corporation Nepal (29.70 %), National Life Insurance (18.80 %) and MetLife Insurance (15.12 %).</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5939',
			'image' => '20170706033627_life.jpg',
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6154',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Increasing Due to Rise in Imports',
			'sub_title' => '',
			'summary' => 'Nepal has been incurring loss in foreign trade due to the big gap between import and export. ',
			'content' => '<p>July 6: Nepal has been incurring loss in foreign trade due to the big gap between import and export. Although there has been a little improvement in export of goods, the excessive increase in import is the reason behind the ever growing trade deficit.</p>

<p>According to data provided by the Trade and Export Promotion Center, there has been an increase in import by 28 percent in the 11 months of the current fiscal year 2016/17 while the export has gone up only by six percent in the same period.</p>

<p>As a result, the trade deficit during the period had increased by 30.3 percent and reached Rs 826 billion. This indicates that the country&rsquo;s foreign trade deficit has become appalling in the recent years.</p>

<p>Experts say that the import of luxurious goods has been increasing every year but the export hasn&rsquo;t increased in the same proportion, resulting in the trade deficit.</p>

<p>The total transaction of foreign trade in the 11 months of the current fiscal year has reached Rs 960 billion. Data provided by the center shows that foreign trade in the current fiscal year has increased by 26.2 percent as compared to the same period of last fiscal year. There were transactions worth Rs 761 billion in foreign trade in the first 11 months of the last fiscal year.</p>

<p>The country has been importing goods to a large extent as the internal market hasn&rsquo;t been able to meet the demands of the people due to lack of increase in production in the domestic market and investment-friendly environment in the country. Officials at the center say that the balance between import and export has been affected due to these factors.</p>

<p>According to the center, the country imported goods worth Rs 893 billion in the first 11 months of the current fiscal year. The amount of goods imported from India was 65.5 percent of the total imports while that from China was 13.1 percent. Likewise, Nepal imported 21.4 percent of the total goods from third countries.</p>

<p>The chief supplies from India, which tops the list of goods suppliers to Nepal, include petroleum products, vehicle and machinery spare parts among other goods. Likewise, Nepal mostly imports telecommunication equipment, electrical appliances, machinery parts, apples and chemicals from northern neighbour China.</p>

<p>Medicines, raw silk, gold, silver, raw materials of plastic, chocolate top the list of goods imported from other countries.</p>

<p>Meanwhile, the export of goods during the first 11 months of the current fiscal year increased by 5.8 percent to Rs 67.36 billion as compared to the last fiscal year, when the country had exported goods worth Rs 63.65 billion to various countries.&nbsp;</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5938',
			'image' => '20170706020803_Trade.jpg',
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		'Article' => array(
			'id' => '6153',
			'article_category_id' => '1',
			'title' => 'Transactions More Than Rs 1 million only Through Cheque',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque.',
			'content' => '<p>July 6: Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque. The new rule comes into effect from July 16.</p>

<p>NRB has issued such circular to all the concerned bodies to conduct transactions of Rs 1 million or more only under the watch of banks and financial institutions.</p>

<p>This rule applies to individuals, firms, companies or institutions. According to the NRB, even deposit or payment of loans of such scale cannot be done through cash under normal circumstances after the rule comes into effect.</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5937',
			'image' => '20170706122337_NRB.jpg',
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		'Article' => array(
			'id' => '6152',
			'article_category_id' => '1',
			'title' => 'Tourist Destinations in Myagdi Awaiting Recognition',
			'sub_title' => '',
			'summary' => ' Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance.',
			'content' => '<p>July 6: Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance. However, five such potential places of the district remain unknown to the tourists due to lack of publicity. Infrastructure development and exposure can make those places probable tourist destinations.</p>

<p>Tamakot of Dhaulagiri Rural Municipality; Bhalebasne (cock-a-doodle do) lake of Malika Rural Municipality; Jagannath Dham and Dholthan of Beni Municipality-9; and Jyamrukot of Beni Municipality-2 are some of the places of the district that has the possibility to attract tourists but people hardly know about them. There is transportation service from the district headquarters Beni to reach all of these places. However, there is a need to develop infrastructures and awareness to attract tourists and pilgrims to these places. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5936',
			'image' => '20170706120537_myagdi.jpg',
			'article_date' => '2017-07-06 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '6151',
			'article_category_id' => '1',
			'title' => 'LIC Nepal hands over Insurance Proceeds',
			'sub_title' => '',
			'summary' => ' LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.',
			'content' => '<p>July 5: LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.</p>

<p>The company&#39;s Pokhara branch chief Ganesh Upreti handed over around Rs 5.68 million to the victim&rsquo;s father Gam Bahadur Gurung, after visiting his home at Milanchowk in Pokhara- Lekhnath-15, recently.</p>

<p>Late Gurung had bought an insurance policy worth Rs 2.6 million in 2016, and had paid a premium of only Rs 514,020 in three installments.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '5935',
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			'article_date' => '2017-07-05 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '6150',
			'article_category_id' => '1',
			'title' => 'NAC bags ISAGO Certificate',
			'sub_title' => '',
			'summary' => 'The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.',
			'content' => '<p>July 5: The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.</p>

<p>NAC received this certificate of international standard for its outstanding ground-handling performance.</p>

<p>This achievement will further help enhance the organization&rsquo;s business, claimed Rabindra Shrestha, spokesperson of NAC.</p>

<p>&nbsp;ISAGO certifies the airlines companies that guarantee safer ground operations.</p>

<p>International Air Transport Association (IATA) awarded the certificate to NAC for its ground service being provided at Tribhuvan International Airport (TIA).</p>

<p>IATA presented the certificate to NAC a few months ago and its validity period is for two years informed Shailesh Kansakar, assistant spokesman of NAC.</p>

<p>NAC currently employs more than 900 staffers at TIA in various departments such as ground-handling, engineering, cash, flight safety and quality control.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5934',
			'image' => '20170705040359_Nepal-Airlines01.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '6149',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Chairman Takes Oath',
			'sub_title' => '',
			'summary' => ' Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.',
			'content' => '<p>July 5: Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.</p>

<p>Upadhayay took the oath in the presence of NRB official as per the requirement of the Banks and Financial Institutions Act- 2073 BS.</p>

<p>Upadhyay was elected as chairman of the bank after the merger of Yeti Development Bank and Mahalaxmi Bikas Bank.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5933',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6148',
			'article_category_id' => '1',
			'title' => 'Free Eye Check-up by Machhapuchchhre',
			'sub_title' => '',
			'summary' => 'The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.',
			'content' => '<p>July 5: The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.</p>

<p>A total of 163 people benefitted from the eye camp while spectacles were distributed free of cost to 49 people along with medicines.</p>

<p>The eye camp also referred 12 people for free cataract operation at Bharatpur Eye Hospital. The eye camp was organized as part of the bank&rsquo;s corporate social responsibility.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5932',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6147',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Opens Branch in Hetauda:',
			'sub_title' => '',
			'summary' => ' Siddhartha Development Bank has opened a branch in Hetauda. ',
			'content' => '<p>July 5: Siddhartha Development Bank has opened a branch in Hetauda. &nbsp;Hari Bahadur Mahat, mayor of Hetauda Sub-metropolitan City inaugurated the branch amid a program on July 4.</p>

<p>&nbsp;Banks should invest more in development projects than in commercial loans, said Rajkumar Neupane, president of the Hetauda chapter of Federation of Nepalese Chamber of Commerce and Industry.&nbsp;</p>

<p>Ram Bahadur Bhandari, chairman of the bank, also inaugurated its ATM outlet during the program.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5931',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '6146',
			'article_category_id' => '1',
			'title' => 'Stakeholders Stress on Tourism Development for Nepal’s Prosperity',
			'sub_title' => '',
			'summary' => ' Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. ',
			'content' => '<p>July 5: Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. According to them, this sector has immense potential but the country has not been able to benefit from it.</p>

<p>The participants shared such views during an interaction on &lsquo;Nepal&rsquo;s tourism promotion in Asian countries&rsquo; organized by GP Koirala Foundation on the occasion of the late prime minister&rsquo;s 94<sup>th</sup> birth anniversary.</p>

<p>Speaking at the function, Finance Minister Gyanendra Bahadur Karki said Nepal holds immense potential in tourism sector that it was possible to achieve economic growth and create employment opportunities through tourism sector.</p>

<p>Nepali Congress leader and president of the foundation, Sujata Koirala, said that the time has come for us to implement the constitution and head toward economic prosperity.</p>

<p>Secretary at the Ministry of Culture, Tourism and Civil Aviation, Shankar Prasad Adhikari, stressed the need of connectivity with Asian countries as they contribute in 60 percent of tourists visiting Nepal.</p>

<p>Deepak Raj Joshi, chief executive officer of Nepal Tourism Board, informed that nearly 10 billion tourists set our on their journeys across the world every year.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5930',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 11 => array(
		'Article' => array(
			'id' => '6145',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Down this Year',
			'sub_title' => '',
			'summary' => ' Rs100 billion less than  last FY',
			'content' => '<p>Foreign Direct Investment (FDI) in Nepal has gone down in the current fiscal year 2016-2017. Compared to the last fiscal year, foreign investment has drastically gone down this year. During the last fiscal year, foreign investment had decreased as a result of the devastating earthquake and blockade. However, this year it was expected to rise after the formation of laws related to investment, International Investment Summit, Infrastructure Summit and some other positive indicators.</p>

<p>Investors from different countries had also pledged to invest more than Rs 1400 billion during the International Investment Summit about four months ago, but those commitments haven&rsquo;t materialized yet.</p>

<p>During the last FY, foreign investment in Nepal was Rs 1525 billion. However, now the investment is just Rs 1420 billion. The amount is Rs 104 billion less than the previous year.</p>

<p>Foreign investment in Nepal couldn&rsquo;t increase in the current fiscal year as the country was still reeling under the effects of the earthquake and blockade of 2015, according to Shekhar Golchha, senior vice-president of FNCCI.</p>

<p>&ldquo;In terms of investment, there is relatively a better environment as compared to the past. The energy crisis has been solved to a great extent. Now, the effects of the blockade and earthquake will not last long. We can hope of increase in foreign investment in soon now,&rdquo; said Golchha.</p>

<p>Shankar Aryal, director general of the Department of Industry, said it was a matter of concern that Nepal has not able to attract foreign investment despite having favorable environment.</p>

<p>&quot;The government is trying its best to increase foreign investment.&nbsp; So, the effort of this year may bring good results in investment in the next year,&quot; he said.</p>

<p>Till date, investors from 91 countries have invested in Nepal. According to the statistics of DoI, the total foreign investment that Nepal has received till now is Rs 212 billion.</p>

<p>Foreign investment from the following countries has decreased:</p>

<p>Australia, Austria, Brazil, British Virgin Islands, China (main territory), Denmark, Japan, the Philippines, Russia, Singapore, Switzerland, Turkey, Great Britain,&nbsp; America, Columbia, Greece, Lebanon, Mauritius, Norway, Poland, Romania, Sweden, Syria, Yemen.</p>

<p>Foreign investment from the following countries has increased:</p>

<p>Bangladesh, Belgium, Canada, Hong Kong, Taiwan, Cyprus, France, Germany, India, Israel, Italy, Malaysia, Mexico, Netherlands (Antilles), Nigeria, Pakistan, Samoa, Saudi Arabia, South Korea, Spain, Thailand, The Netherlands.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5929',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '6144',
			'article_category_id' => '1',
			'title' => 'Airlines Operators Slice Internal Air Fare',
			'sub_title' => '',
			'summary' => 'Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.',
			'content' => '<p>July 5: Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.</p>

<p>Nepal Oil Corporation (NOC) had reduced the aviation fuel price by Rs 4 per liter a few days ago. Following the move, a meeting of the Airlines Operators Association of Nepal (AOAN) on June 4 decided to adjust the internal flight rates as per the reduced aviation fuel. According to Ghanashyam Acharya, spokesperson of AOAN, the new air fares will come into effect from July 5.</p>

<p>The air fares have been decreased by a minimum of Rs 45 to the maximum of Rs 200 with following the decision made by AOAN. Similarly, mountain flight fares will be less by Rs 238. The mountain flight fares which used to be Rs 11,000 earlier has fall to Rs 10,862.</p>

<p>NOC sliced the prices of petroleum products since July 2 as per the international rate. The new rate of aviation fuel is Rs 82, four rupees less from the earlier rate of Rs 86.&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5928',
			'image' => '20170705021352_NOC.jpg',
			'article_date' => '2017-07-05 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '6142',
			'article_category_id' => '1',
			'title' => 'Govt Plan to Set Up Fuel Storage Facilities in Limbo',
			'sub_title' => '',
			'summary' => 'The government’s proposed plan to increase the storage capacity of petroleum products has been limited to paper works.',
			'content' => '<p>July 5: The government&rsquo;s proposed plan to increase the storage capacity of petroleum products has been limited to paper works. As per the proposal, the government is preparing to create storage facilities of fuel for up to three months. However, the plan is in limbo as the government has not been able to acquire the land required for the purpose.</p>

<p>Currently, Nepal has the capacity to store fuel only for 17 days. Although the government had made a commitment to set up facilities to store fuel for at least 90 days during the budget announcement of last fiscal year, no concrete steps has been taken to this end.</p>

<p>Nepal Oil Corporation (NOC)&rsquo;s Spokesperson Sitaram Pokharel said that this plan has hit a snag as the process to acquire lands in all seven provinces for the storage facilities has not yet gained any pace.</p>

<p>&ldquo;We had issued a tender notice for land required in all seven provinces for the storage facilities,&rdquo; said Pokharel, &ldquo;But we couldn&rsquo;t find land suitable for the purpose. This has also delayed the re-tender process.&rdquo;</p>

<p>Officials at the NOC informed that the state-run oil corporation has already purchased 50 bighas of land in Chitwan, 20 bighas in Jhapa and 17 bighas in Sarlahi but it is yet to buy land in other places. NOC officials further said that they will soon initiate the process to buy lands in other places.</p>

<p>Keeping in view the growing demand for petroleum products of late, the government had decided to create storage facilities for 424,000 kiloliters of fuel. Although the government has agreed in principle to set up such facilities, the process has been delayed due to various reasons.</p>

<p>NOC officials have identified the need for pipeline transfer of petroleum products to ease the supply chain, but, for this, it is essential to set up the storage facilities. At present, the consumers in Nepal have been facing crisis even if the supply of fuel is obstructed for a few days. &nbsp;</p>

<p>NOC officials informed that they have already spent Rs 5 billion for purchasing land. An additional Rs 10 billion is required for construction of depots, according to sources.&nbsp;</p>
',
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			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5926',
			'image' => '20170705013752_noc.jpg',
			'article_date' => '2017-07-05 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '6141',
			'article_category_id' => '1',
			'title' => 'Two Finance Companies Merge with Civil Bank',
			'sub_title' => '',
			'summary' => ' Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.',
			'content' => '<p>July 4: Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.</p>

<p>Speaking at the inauguration of integrated transaction of Civil Bank after merger with Hama Merchant and Finance Company and Unique Finance Company, Governor Nepal also said that the bank&rsquo;s contribution in providing financial access to rural communities is indispensable.</p>

<p>Mergers with various banks and financial institutions (BFIs) help to strengthen transactions and to invest in large projects and industrial businesses, said Govinda Gurung, CEO of Civil Bank.</p>

<p>The bank now has 53 branches. The paid-up capital of the bank has increased to Rs 5.18 billion, deposit to Rs 34.97 billion and lending has increased to Rs 31.22 billion, informed the CEO.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '5925',
			'image' => '20170704042557_civil bank.jpg',
			'article_date' => '2017-07-04 00:00:00',
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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
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6156',
			'article_category_id' => '1',
			'title' => 'Fewa and Gandaki Start Integrated Transaction',
			'sub_title' => '',
			'summary' => 'Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. ',
			'content' => '<p>July 6: Fewa Development Bank has started integrated transaction service after its merger with Gandaki Bikas bank since Wednesday. After the merger, the paid-up capital of the bank, which will operate in the name of Gandaki Bikas Bank, has reached Rs 1.84 billion, according to the bank&rsquo;s CEO Resham Bahadur Thapa. The bank has set a target of meeting the paid-up capital requirement of 2.5 billion set for development banks within the current fiscal year after issuing 25 percent right shares. After the merger, the bank&rsquo;s deposit has reached more than Rs 18 billion while it has loaned out more than Rs 16 billion, informed Thapa.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5940',
			'image' => null,
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6155',
			'article_category_id' => '1',
			'title' => 'Life Insurance Fund Grows by 24 Percent',
			'sub_title' => '',
			'summary' => 'The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. ',
			'content' => '<p>July 6: The combined life insurance fund of life insurance companies operating in Nepal has increased by 23.65 percent in the third quarter of the current fiscal year compared to the corresponding period of last fiscal year. The financial reports of the third quarter published by the insurance companies show that the fund has amounted to Rs 1,278 billion by mid-April. The amount was Rs 1,034 billion in the same period of last FY.</p>

<p>The life insurance companies have been generating more income of late with the rise in the number of people purchasing insurance policy. As a result, the life insurance fund has also increased, say informed sources.</p>

<p>Vice President of Nepal Insurers&rsquo; Association and CEO of Nepal Life Insurance Company Bivek Jha says that the premium collected from policyholders is not their actual income as they have obligation to refund the amount. &nbsp;</p>

<p>&ldquo;Insurance companies have to refund the amount to the policyholders after the agreed period of time. And there is also risk of paying the amount if any of the insured person dies,&rdquo; says Jha.</p>

<p>&ldquo;If our cost incurred is less than the premium that we collect then only the amount goes to the life insurance fund. In such case, 90 percent of the amount goes to the life insurance fund. The remaining 10 percent would amount to either profit or loss but generally it is profit,&rdquo; he added.</p>

<p>According to CEO Jha, a rise of 28.96 percent in Nepal Life Insurance Company&rsquo;s fund compared to the last year indicates an increase in its business. &nbsp;&nbsp;</p>

<p>Likewise, during the same period, Surya Life Insurance Company recorded a 50.70 percent rise in its life insurance fund. The company had been able to add the amount to its fund after deducting its operating cost.</p>

<p>On the other hand, National Insurance Company&rsquo;s fund incurred a loss of 2.74 percent.</p>

<p>Other companies to record gains are Gurans Life Insurance Company (40.92 %), Prime Life Insurance (35.91 %), Asian Life Insurance (30.40 %), Life Insurance Corporation Nepal (29.70 %), National Life Insurance (18.80 %) and MetLife Insurance (15.12 %).</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5939',
			'image' => '20170706033627_life.jpg',
			'article_date' => '2017-07-06 00:00:00',
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		'Article' => array(
			'id' => '6154',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Increasing Due to Rise in Imports',
			'sub_title' => '',
			'summary' => 'Nepal has been incurring loss in foreign trade due to the big gap between import and export. ',
			'content' => '<p>July 6: Nepal has been incurring loss in foreign trade due to the big gap between import and export. Although there has been a little improvement in export of goods, the excessive increase in import is the reason behind the ever growing trade deficit.</p>

<p>According to data provided by the Trade and Export Promotion Center, there has been an increase in import by 28 percent in the 11 months of the current fiscal year 2016/17 while the export has gone up only by six percent in the same period.</p>

<p>As a result, the trade deficit during the period had increased by 30.3 percent and reached Rs 826 billion. This indicates that the country&rsquo;s foreign trade deficit has become appalling in the recent years.</p>

<p>Experts say that the import of luxurious goods has been increasing every year but the export hasn&rsquo;t increased in the same proportion, resulting in the trade deficit.</p>

<p>The total transaction of foreign trade in the 11 months of the current fiscal year has reached Rs 960 billion. Data provided by the center shows that foreign trade in the current fiscal year has increased by 26.2 percent as compared to the same period of last fiscal year. There were transactions worth Rs 761 billion in foreign trade in the first 11 months of the last fiscal year.</p>

<p>The country has been importing goods to a large extent as the internal market hasn&rsquo;t been able to meet the demands of the people due to lack of increase in production in the domestic market and investment-friendly environment in the country. Officials at the center say that the balance between import and export has been affected due to these factors.</p>

<p>According to the center, the country imported goods worth Rs 893 billion in the first 11 months of the current fiscal year. The amount of goods imported from India was 65.5 percent of the total imports while that from China was 13.1 percent. Likewise, Nepal imported 21.4 percent of the total goods from third countries.</p>

<p>The chief supplies from India, which tops the list of goods suppliers to Nepal, include petroleum products, vehicle and machinery spare parts among other goods. Likewise, Nepal mostly imports telecommunication equipment, electrical appliances, machinery parts, apples and chemicals from northern neighbour China.</p>

<p>Medicines, raw silk, gold, silver, raw materials of plastic, chocolate top the list of goods imported from other countries.</p>

<p>Meanwhile, the export of goods during the first 11 months of the current fiscal year increased by 5.8 percent to Rs 67.36 billion as compared to the last fiscal year, when the country had exported goods worth Rs 63.65 billion to various countries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5938',
			'image' => '20170706020803_Trade.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6153',
			'article_category_id' => '1',
			'title' => 'Transactions More Than Rs 1 million only Through Cheque',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque.',
			'content' => '<p>July 6: Nepal Rastra Bank (NRB) has made it mandatory for all parties to conduct transactions worth Rs 1 million or more through cheque. The new rule comes into effect from July 16.</p>

<p>NRB has issued such circular to all the concerned bodies to conduct transactions of Rs 1 million or more only under the watch of banks and financial institutions.</p>

<p>This rule applies to individuals, firms, companies or institutions. According to the NRB, even deposit or payment of loans of such scale cannot be done through cash under normal circumstances after the rule comes into effect.</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5937',
			'image' => '20170706122337_NRB.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6152',
			'article_category_id' => '1',
			'title' => 'Tourist Destinations in Myagdi Awaiting Recognition',
			'sub_title' => '',
			'summary' => ' Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance.',
			'content' => '<p>July 6: Myagdi district holds immense potential in tourism sector due to its natural beauty, biodiversity as well as historical and religious significance. However, five such potential places of the district remain unknown to the tourists due to lack of publicity. Infrastructure development and exposure can make those places probable tourist destinations.</p>

<p>Tamakot of Dhaulagiri Rural Municipality; Bhalebasne (cock-a-doodle do) lake of Malika Rural Municipality; Jagannath Dham and Dholthan of Beni Municipality-9; and Jyamrukot of Beni Municipality-2 are some of the places of the district that has the possibility to attract tourists but people hardly know about them. There is transportation service from the district headquarters Beni to reach all of these places. However, there is a need to develop infrastructures and awareness to attract tourists and pilgrims to these places. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-06',
			'modified' => '2017-07-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5936',
			'image' => '20170706120537_myagdi.jpg',
			'article_date' => '2017-07-06 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6151',
			'article_category_id' => '1',
			'title' => 'LIC Nepal hands over Insurance Proceeds',
			'sub_title' => '',
			'summary' => ' LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.',
			'content' => '<p>July 5: LIC Nepal has handed over insurance to family of Anil Gurung, a resident of Panchamul, Adhikhola-1 of Syangja district, who had died in a road accident.</p>

<p>The company&#39;s Pokhara branch chief Ganesh Upreti handed over around Rs 5.68 million to the victim&rsquo;s father Gam Bahadur Gurung, after visiting his home at Milanchowk in Pokhara- Lekhnath-15, recently.</p>

<p>Late Gurung had bought an insurance policy worth Rs 2.6 million in 2016, and had paid a premium of only Rs 514,020 in three installments.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5935',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6150',
			'article_category_id' => '1',
			'title' => 'NAC bags ISAGO Certificate',
			'sub_title' => '',
			'summary' => 'The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.',
			'content' => '<p>July 5: The national flag carrier - Nepal Airlines Corporation (NAC) - has for the first time obtained IATA Safety Audit for Ground Operations (ISAGO) Certificate.</p>

<p>NAC received this certificate of international standard for its outstanding ground-handling performance.</p>

<p>This achievement will further help enhance the organization&rsquo;s business, claimed Rabindra Shrestha, spokesperson of NAC.</p>

<p>&nbsp;ISAGO certifies the airlines companies that guarantee safer ground operations.</p>

<p>International Air Transport Association (IATA) awarded the certificate to NAC for its ground service being provided at Tribhuvan International Airport (TIA).</p>

<p>IATA presented the certificate to NAC a few months ago and its validity period is for two years informed Shailesh Kansakar, assistant spokesman of NAC.</p>

<p>NAC currently employs more than 900 staffers at TIA in various departments such as ground-handling, engineering, cash, flight safety and quality control.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5934',
			'image' => '20170705040359_Nepal-Airlines01.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6149',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Chairman Takes Oath',
			'sub_title' => '',
			'summary' => ' Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.',
			'content' => '<p>July 5: Rajesh Upadhyay, newly-elected chairman of Mahalaxmi Bikas Bank (MBB), took the oath of office and secrecy on July 2.</p>

<p>Upadhayay took the oath in the presence of NRB official as per the requirement of the Banks and Financial Institutions Act- 2073 BS.</p>

<p>Upadhyay was elected as chairman of the bank after the merger of Yeti Development Bank and Mahalaxmi Bikas Bank.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5933',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6148',
			'article_category_id' => '1',
			'title' => 'Free Eye Check-up by Machhapuchchhre',
			'sub_title' => '',
			'summary' => 'The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.',
			'content' => '<p>July 5: The Narayangadh branch of Machhapuchchhre Bank organized a free eye check-up camp at Galeshwor Asharam in Devghat, recently.</p>

<p>A total of 163 people benefitted from the eye camp while spectacles were distributed free of cost to 49 people along with medicines.</p>

<p>The eye camp also referred 12 people for free cataract operation at Bharatpur Eye Hospital. The eye camp was organized as part of the bank&rsquo;s corporate social responsibility.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5932',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6147',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Opens Branch in Hetauda:',
			'sub_title' => '',
			'summary' => ' Siddhartha Development Bank has opened a branch in Hetauda. ',
			'content' => '<p>July 5: Siddhartha Development Bank has opened a branch in Hetauda. &nbsp;Hari Bahadur Mahat, mayor of Hetauda Sub-metropolitan City inaugurated the branch amid a program on July 4.</p>

<p>&nbsp;Banks should invest more in development projects than in commercial loans, said Rajkumar Neupane, president of the Hetauda chapter of Federation of Nepalese Chamber of Commerce and Industry.&nbsp;</p>

<p>Ram Bahadur Bhandari, chairman of the bank, also inaugurated its ATM outlet during the program.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5931',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6146',
			'article_category_id' => '1',
			'title' => 'Stakeholders Stress on Tourism Development for Nepal’s Prosperity',
			'sub_title' => '',
			'summary' => ' Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. ',
			'content' => '<p>July 5: Concerned stakeholders have emphasized the need of tourism development in Nepal in order to lead the country to prosperity. According to them, this sector has immense potential but the country has not been able to benefit from it.</p>

<p>The participants shared such views during an interaction on &lsquo;Nepal&rsquo;s tourism promotion in Asian countries&rsquo; organized by GP Koirala Foundation on the occasion of the late prime minister&rsquo;s 94<sup>th</sup> birth anniversary.</p>

<p>Speaking at the function, Finance Minister Gyanendra Bahadur Karki said Nepal holds immense potential in tourism sector that it was possible to achieve economic growth and create employment opportunities through tourism sector.</p>

<p>Nepali Congress leader and president of the foundation, Sujata Koirala, said that the time has come for us to implement the constitution and head toward economic prosperity.</p>

<p>Secretary at the Ministry of Culture, Tourism and Civil Aviation, Shankar Prasad Adhikari, stressed the need of connectivity with Asian countries as they contribute in 60 percent of tourists visiting Nepal.</p>

<p>Deepak Raj Joshi, chief executive officer of Nepal Tourism Board, informed that nearly 10 billion tourists set our on their journeys across the world every year.</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5930',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6145',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Down this Year',
			'sub_title' => '',
			'summary' => ' Rs100 billion less than  last FY',
			'content' => '<p>Foreign Direct Investment (FDI) in Nepal has gone down in the current fiscal year 2016-2017. Compared to the last fiscal year, foreign investment has drastically gone down this year. During the last fiscal year, foreign investment had decreased as a result of the devastating earthquake and blockade. However, this year it was expected to rise after the formation of laws related to investment, International Investment Summit, Infrastructure Summit and some other positive indicators.</p>

<p>Investors from different countries had also pledged to invest more than Rs 1400 billion during the International Investment Summit about four months ago, but those commitments haven&rsquo;t materialized yet.</p>

<p>During the last FY, foreign investment in Nepal was Rs 1525 billion. However, now the investment is just Rs 1420 billion. The amount is Rs 104 billion less than the previous year.</p>

<p>Foreign investment in Nepal couldn&rsquo;t increase in the current fiscal year as the country was still reeling under the effects of the earthquake and blockade of 2015, according to Shekhar Golchha, senior vice-president of FNCCI.</p>

<p>&ldquo;In terms of investment, there is relatively a better environment as compared to the past. The energy crisis has been solved to a great extent. Now, the effects of the blockade and earthquake will not last long. We can hope of increase in foreign investment in soon now,&rdquo; said Golchha.</p>

<p>Shankar Aryal, director general of the Department of Industry, said it was a matter of concern that Nepal has not able to attract foreign investment despite having favorable environment.</p>

<p>&quot;The government is trying its best to increase foreign investment.&nbsp; So, the effort of this year may bring good results in investment in the next year,&quot; he said.</p>

<p>Till date, investors from 91 countries have invested in Nepal. According to the statistics of DoI, the total foreign investment that Nepal has received till now is Rs 212 billion.</p>

<p>Foreign investment from the following countries has decreased:</p>

<p>Australia, Austria, Brazil, British Virgin Islands, China (main territory), Denmark, Japan, the Philippines, Russia, Singapore, Switzerland, Turkey, Great Britain,&nbsp; America, Columbia, Greece, Lebanon, Mauritius, Norway, Poland, Romania, Sweden, Syria, Yemen.</p>

<p>Foreign investment from the following countries has increased:</p>

<p>Bangladesh, Belgium, Canada, Hong Kong, Taiwan, Cyprus, France, Germany, India, Israel, Italy, Malaysia, Mexico, Netherlands (Antilles), Nigeria, Pakistan, Samoa, Saudi Arabia, South Korea, Spain, Thailand, The Netherlands.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5929',
			'image' => null,
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6144',
			'article_category_id' => '1',
			'title' => 'Airlines Operators Slice Internal Air Fare',
			'sub_title' => '',
			'summary' => 'Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.',
			'content' => '<p>July 5: Airlines operators of Nepal have decided to slice the fare of internal flights following the decrease in fuel prices.</p>

<p>Nepal Oil Corporation (NOC) had reduced the aviation fuel price by Rs 4 per liter a few days ago. Following the move, a meeting of the Airlines Operators Association of Nepal (AOAN) on June 4 decided to adjust the internal flight rates as per the reduced aviation fuel. According to Ghanashyam Acharya, spokesperson of AOAN, the new air fares will come into effect from July 5.</p>

<p>The air fares have been decreased by a minimum of Rs 45 to the maximum of Rs 200 with following the decision made by AOAN. Similarly, mountain flight fares will be less by Rs 238. The mountain flight fares which used to be Rs 11,000 earlier has fall to Rs 10,862.</p>

<p>NOC sliced the prices of petroleum products since July 2 as per the international rate. The new rate of aviation fuel is Rs 82, four rupees less from the earlier rate of Rs 86.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5928',
			'image' => '20170705021352_NOC.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6142',
			'article_category_id' => '1',
			'title' => 'Govt Plan to Set Up Fuel Storage Facilities in Limbo',
			'sub_title' => '',
			'summary' => 'The government’s proposed plan to increase the storage capacity of petroleum products has been limited to paper works.',
			'content' => '<p>July 5: The government&rsquo;s proposed plan to increase the storage capacity of petroleum products has been limited to paper works. As per the proposal, the government is preparing to create storage facilities of fuel for up to three months. However, the plan is in limbo as the government has not been able to acquire the land required for the purpose.</p>

<p>Currently, Nepal has the capacity to store fuel only for 17 days. Although the government had made a commitment to set up facilities to store fuel for at least 90 days during the budget announcement of last fiscal year, no concrete steps has been taken to this end.</p>

<p>Nepal Oil Corporation (NOC)&rsquo;s Spokesperson Sitaram Pokharel said that this plan has hit a snag as the process to acquire lands in all seven provinces for the storage facilities has not yet gained any pace.</p>

<p>&ldquo;We had issued a tender notice for land required in all seven provinces for the storage facilities,&rdquo; said Pokharel, &ldquo;But we couldn&rsquo;t find land suitable for the purpose. This has also delayed the re-tender process.&rdquo;</p>

<p>Officials at the NOC informed that the state-run oil corporation has already purchased 50 bighas of land in Chitwan, 20 bighas in Jhapa and 17 bighas in Sarlahi but it is yet to buy land in other places. NOC officials further said that they will soon initiate the process to buy lands in other places.</p>

<p>Keeping in view the growing demand for petroleum products of late, the government had decided to create storage facilities for 424,000 kiloliters of fuel. Although the government has agreed in principle to set up such facilities, the process has been delayed due to various reasons.</p>

<p>NOC officials have identified the need for pipeline transfer of petroleum products to ease the supply chain, but, for this, it is essential to set up the storage facilities. At present, the consumers in Nepal have been facing crisis even if the supply of fuel is obstructed for a few days. &nbsp;</p>

<p>NOC officials informed that they have already spent Rs 5 billion for purchasing land. An additional Rs 10 billion is required for construction of depots, according to sources.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-05',
			'modified' => '2017-07-05',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5926',
			'image' => '20170705013752_noc.jpg',
			'article_date' => '2017-07-05 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6141',
			'article_category_id' => '1',
			'title' => 'Two Finance Companies Merge with Civil Bank',
			'sub_title' => '',
			'summary' => ' Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.',
			'content' => '<p>July 4: Governor of Nepal Rastra Bank (NRB), Chiranjive Nepal, said that the central bank is planning to boost financial activities across the nation by establishing new branches of various banks at local levels.</p>

<p>Speaking at the inauguration of integrated transaction of Civil Bank after merger with Hama Merchant and Finance Company and Unique Finance Company, Governor Nepal also said that the bank&rsquo;s contribution in providing financial access to rural communities is indispensable.</p>

<p>Mergers with various banks and financial institutions (BFIs) help to strengthen transactions and to invest in large projects and industrial businesses, said Govinda Gurung, CEO of Civil Bank.</p>

<p>The bank now has 53 branches. The paid-up capital of the bank has increased to Rs 5.18 billion, deposit to Rs 34.97 billion and lending has increased to Rs 31.22 billion, informed the CEO.</p>
',
			'published' => true,
			'created' => '2017-07-04',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5925',
			'image' => '20170704042557_civil bank.jpg',
			'article_date' => '2017-07-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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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