The Nepal Stock Exchange(NEPSE) set the new record with highest turnover of Rs 21.91 billion ever recorded in its history on…
The Nepal Stock Exchange(NEPSE) set the new record with highest turnover of Rs 21.91 billion ever recorded in its history on…
MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main…
KATHMANDU, July 30: Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last…
KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas.…
CHITWAN, July 30: Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY…
China Reaffirms Support to Enhance Nepal’s Economic…
KATHMANDU, July 31: The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise…
On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across…
A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X…
KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago.…
KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight…
The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the…
KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on…
KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and…
KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting…
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The Microfinance Index saw the smallest increase, growing by 0.63%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21425', 'image' => '20240731033033_collage (4).jpg', 'article_date' => '2024-07-31 15:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21698', 'article_category_id' => '1', 'title' => 'Main Tunnel of Rahughat Hydropower Project Achieves Breakthrough', 'sub_title' => '', 'summary' => 'MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel. The project, with a capacity to generate 40 megawatts of electricity, is a subsidiary of Nepal Electricity Authority, promoted by Raghuganga Hydropower.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The main tunnel, which is 6,270 meters long, starts from the dam at the base of Dagnam in Raghuganga Rural Municipality-4 and ends at Tilkenichaur in Raghuganga Rural Municipality-3, according to the project’s Managing Director, Ganesh KC.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The breakthrough was accomplished by dividing the tunnel into four segments (audits). Raghuganga Rural Municipality Chairman Bhawa Bahadur Bhandari and the project’s Managing Director KC jointly activated a switch for the breakthrough of the 2,332-meter-long section of the tunnel linking the dam to Audit No. 2 at Agherikhola.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The tunnel construction includes 875 meters dug from Audit 1 and 1,458 meters from Audit 2. Lining work is ongoing in the 3,836 meters of Audit 2 and 3 tunnels, which had breakthroughs last March.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman Bhandari expressed his satisfaction with the tunnel's completion, highlighting that the tunnel construction is the project's primary task. He also noted that the rural municipality has facilitated and coordinated the project's efforts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Rahughat Hydropower Project is being developed with a concessional loan of USD 67 million from the Indian EXIM (Export-Import) Bank, alongside joint investment from NEA and the Government of Nepal. The contract agreement for the project's construction was signed with civil contractors Jaiprakash Associates (JP) in 2074 BS. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21424', 'image' => '20240731013756_hydro.jpg', 'article_date' => '2024-07-31 13:37:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21697', 'article_category_id' => '1', 'title' => 'Paddy Transplantation up by 14% this Year', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Until July 28, the transplantation was completed in 92.41 percent of the available land across the country this year while 78.1 percent transplantation had completed in the same period last year, according to the Ministry of Agriculture and Livestock Development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 1.398 million hectares designated for paddy cultivation, transplantation has been completed in 1.29 million hectares. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Government officials attributed the progress to sufficient rainfall and availability of chemical fertilisers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Monsoon arrived earlier this year leading to consistent rainfall,” said Hari Bahadur KC, spokesperson at the ministry. “And the availability of chemical fertilisers led to timely transplantation.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Farmers could not prepare rice saplings on time last year due to delayed rainfall, which negatively impacted transplantation, KC added, estimating paddy transplantation to increase to 98% of the available area this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the transplantation nears completion in Sudurpaschim Province, nearly 9 percent transplantation is yet to be completed in Koshi, according to the ministry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Spokesperson KC said the transplantation may have been delayed due to less rain in the east compared to the west this season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, paddy transplantation has completed in 96.9 percent of available land in Karnali.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the surge in transplantation, paddy harvest is projected to rise this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Paddy harvest had increased last year as well, which the government attributed to the growing use of technology. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers had harvested 5.7 million tonnes of paddy in the last fiscal year, 2023/24, a 4.33% increase from the previous year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21423', 'image' => '20240731124638_SA_SURKHET_DJI_174520.jpg', 'article_date' => '2024-07-31 12:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21696', 'article_category_id' => '1', 'title' => 'Heavy Rainfall Triggers Flooding in Kathmandu Valley; One Dead, 36 Rescued', 'sub_title' => 'River Sweeps Away Two Workers in Bhojpur, HIghways Obstructed ', 'summary' => 'KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. The rain also triggered landslides in various parts of the country, halting transportation services. One person died in Kathmandu’s Balkhu area, and two others were swept away by a river in eastern Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Police Spokesperson Dan Bahadur Karki reported that 12 individuals from Kathmandu district and 24 from Lalitpur district were rescued from flood-induced disasters. Among those rescued were 11 people from the Balkhu and Kuleshwor areas and one from New Buspark.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the state-owned RSS, riverbank areas in the city, including Balkhu, Bafal, the Dhobikhola corridor, and Sundarighat, experienced significant waterlogging due to inundation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition, a house was damaged by a landslide in Nagpokhari, Phutung in the northern outskirts of Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In Lalitpur district, 24 people were rescued, including two from UN Park, eight from Sundarighat, one from Balkumari, seven from Chagathali, and six from Mandir. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Weather Forecasting Division on Monday had warned of heavy rainfall in various parts of the country for the next three days ie until Wednesday.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Man Dies in Balkhukhola Flood</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A man lost his life in the Balkhukhola flood on Tuesday night. Police identified the deceased as 45-year-old Ram Swarup Mahato, whose body was recovered from the river near Balkhu in the capital city. Mahato was residing in the squatter settlement in Balkhu area, according to Dinesh Raj Mainali, Spokesperson of the Kathmandu Valley Police Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The heavy rainfall also caused flooding in the Bagmati River and its tributaries, including Hanumante, Manohara, Dhobikhola, Godawari, Bishnumati, and Balkhu, leading to the inundation of several settlements along the riverbanks in the Kathmandu Valley, RSS added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Flood Sweeps Away Two Workers of Hydropower Project in Bhojpur</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Two workers from an under-construction hydropower project in Bhojpur district went missing in a flood triggered by heavy rain on Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief of the District Police Office, Yubaraj Timsina, reported that 26-year-old Shyam Kumar Tharu and 30-year-old Ramesh Tharu, both from Barabardiya Rural Municipality-3 in Bardiya district, were swept away by the flood at the Ikhuwa Hydropower Project site in Salpasilichho Rural Municipality.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another worker, Ram Kisan Tharu, 26, was rescued and is receiving treatment at Kulung Health Post. Police are continuing the search for the missing workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sanfe-Martadi Highway Obstructed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Sanfe-Martadi highway has been blocked by a landslide triggered by incessant rainfall in the Nunepani area of Badimalika Municipality-6. Police Inspector Rabindra Singh Karki stated that efforts are underway to clear the debris, with technical teams and equipment deployed from the Sanfe Road Division Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the obstruction, long and short-distance vehicles, including cargo transport, have been stranded. The Martadi-Kolti road, which connects the northeastern part of the district, has also been closed to traffic for a month due to floods in the Bauli and Anai rivers, as well as a landslide in Jili area of Badimalika Municipality.</span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bensisahar-Chame Road Obstructed</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A landslide occurred at Kharkhare cliff in Bensisahar Municipality-6 of Lamjung district on Wednesday morning, causing obstruction to vehicular movement along the Bensisahar-Chame road section, according to the District Police Office. The landslide was triggered by heavy rainfall in the district since Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to RSS, Inspector Thaneshwor Chapain mentioned that the Kharkhare area is prone to landslides, and the obstruction has affected travelers to and from Manang and the northern belt of Lamjung. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21422', 'image' => '20240731121415_RG_BHAKTAPUR_IMG_3323.jpg', 'article_date' => '2024-07-31 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21695', 'article_category_id' => '1', 'title' => 'Tourist Arrivals at Chitwan National Park Surge in Last Fiscal Year', 'sub_title' => 'A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year', 'summary' => 'CHITWAN, July 30: Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">CHITWAN, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While 274,299 tourists entered the park through the Sauraha area in the last fiscal, an increase from 271,731 in the previous year, 27,956 entered the park through Bharatpur metropolis in the same period, an increase of 23,257 than in 2022/23, said Ganesh Prasad Tiwari, information officer, at the park.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Bishwa Subedi, a tourism expert from Bharatpur, attributed the rise in park visitors to the Chitwan Visit Year 2024, an initiative of the Bharatpur Metropolitan City to promote tourism.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Various religious and recreational events such as the Devghat Dham festival, jungle safari, and a marathon will be organised later this year,” said Subedi.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Diyalo Bungalow, the residence of the former royal family of Nepal where King Mahendra had passed away, was recently opened to the public. It has become a new tourism destination in Chitwan. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21421', 'image' => '20240731113820_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-07-31 11:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21693', 'article_category_id' => '1', 'title' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'sub_title' => '', 'summary' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Chinese Ambassador to Nepal Chen Song has reiterated China’s strong support for Nepal’s socio-economic development. In a recent event organized by the China Media Group Asia Pacific and Sino Nepal Media Society in Kathmandu, Ambassador Chen emphasized China’s commitment to advancing Nepal’s economic progress.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ambassador Chen emphasized that the projects under China's Belt and Road Initiative (BRI) align with Nepal's interests. He also noted that the reform plans from the recent Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) are crucial for neighboring countries like Nepal. <br /> He expressed his confidence that the citizens of both countries would benefit hugely from the reform plans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Those reform plans would be useful in advancing network building that would connect Nepal and China across the Himalayas as well as in optimizing the capacity of Nepal's agriculture, industry, trade, digital technology, energy and tourism sectors thereby opening up opportunities of prosperity for Nepal," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On a different note, the Chinese envoy said that the Third Plenum of the 20th central committee of the CPC also conveyed the message of China's consistent reform bid and openness. According to him, the CPC was embarking on a new journey in a new era by resolutely batting on reforms and openness. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21420', 'image' => '20240731104023_20220708010938_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-07-31 10:39:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21694', 'article_category_id' => '1', 'title' => 'Secured Transactions Bill in House Committee for Clause-Wise Discussion', 'sub_title' => 'Finance Minister’s proposal to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the lower house', 'summary' => 'KATHMANDU, July 31: The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 31</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting of the lower house on Tuesday sent the bill, which originated in the upper house, to the committee.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The proposal by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the house.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting also endorsed a proposal from Speaker Devaraj Ghimire to change the names of the members of the Parliamentary Investigation Special Committee, Monitoring and Evaluation of the Implementation of the Directive Principles, Policies and Obligations of the state Committee and various other thematic committees. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The next meeting of the House of Representatives has been scheduled for August 4. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21419', 'image' => '20240731111110_Parliament RSS 800.jpg', 'article_date' => '2024-07-31 11:10:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21692', 'article_category_id' => '1', 'title' => 'Milk Worth Over Rs 650 Million Consumed on Shrawan 15', 'sub_title' => '', 'summary' => 'On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">July 31: On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Nepal Dairy Association attributed the surge to the cultural tradition of preparing and eating kheer (rice pudding) on this particular day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Every year, the government observes Shrawan 15 as Kheer Khane Din, encouraging people to enjoy this special dish.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The Association also organized a kheer-eating program to promote consumption of milk and dairy products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> The Association has been actively promoting dairy consumption due to the increasing stock of milk and dairy products, which has created challenges in paying farmers. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21418', 'image' => '20240731055955_collage (83).jpg', 'article_date' => '2024-07-31 05:58:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21691', 'article_category_id' => '1', 'title' => 'Tech X 2024 kicks off at Softwarica College', 'sub_title' => 'Tech enthusiasts will be able to observe the college students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4', 'summary' => 'A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 30</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A semi-autonomous vehicle to detect cigarette butts and a Lethal Autonomous Weapon System as well as an autonomous shopping companion, interactive AI counsellor for college students, VR car simulator and automated recycle bin were some of the prototypes in exhibition at the Tech X 2024, the fourth edition of the Softwarica College’s technology exhibition, which kicked off in Dillibazar, Kathmandu on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Apart from these, the six-day event is also showcasing ransomware detection and prevention techniques, impact analysis of password cracking on cybersecurity, impact analysis of malicious application on cybersecurity and phishing and social engineering. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nikesh Bhandari, a BSc (Hons) Computing 4th semester student, was busy describing the prototype of the banking robot with Natural Language Processing (NLP) and facial recognition features to the visitors. It was made by the team of Bhattarai along with Sandesh Sapkota, Prajwal Pokharel and Prabin Tiwari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It provides personalised banking advice and plans using the Generative AI.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Many people find it difficult to fill the KYC form,” said Bhandari. “Our prototype can scan the basic information from the Citizenship card and fill in the required information.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the visitors to the exhibition on Tuesday were students from various schools across Kathmandu and young tech enthusiasts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Adarsh Bajracharya and his team which include Sworup Timalsina, Aashrit Shrestha, Princy Agrawal and Suyogya Makaju made R.O.B.O, a robotic dog to help the visually impaired individuals with their household tasks. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Equipped with voice command recognition, it responds to user instructions and aids in navigating the home environment safely using obstacles avoidance sensors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It can provide the visually impaired individuals with information such as the identities of visitors, their facial expressions, time, and reminder for taking medicines, besides helping them move within the house premises,” said Bajracharya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, a team of 10 students have made a prototype for a robot which can work as a tour guide in museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It utilises computer vision designed to follow a path and navigation through the museum by giving information and insights about each tour exhibit along the way. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Aryan Budhathoki, one of the members of the team, said it was aimed at providing an interactive experience to people visiting the museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Tech enthusiasts will be able to observe the Softwarica College students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The event also features the Robo Warrior League with more than 40 battle bots, also designed by the students. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Binod Shrestha, director at Softwarica College, said the event was an attempt to attract everybody’s attention towards the advancing technology sector and its impacts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“We aspire to educate people about the IT sector right from their early age as advancement in other sectors is impossible without advancement in this sector,” said Shrestha. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the free entry fee, the exhibition expects to attract more than 20,000 visitors this year.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21417', 'image' => '20240730065358_Softworica college_SunilSharma (39).jpg', 'article_date' => '2024-07-30 18:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21689', 'article_category_id' => '1', 'title' => 'Lack of Awareness Deters Sale of Foreign Employment Savings Bond', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. The scheme aims to invest income from remittances into the productive sector. Research conducted by Nepal Rastra Bank (NRB) has highlighted that the sale of these savings bonds is low due to a lack of awareness and the complexities involved in the purchasing process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year (FY), the government set a target to sell Rs 1 billion worth of foreign employment savings bonds. However, such bonds worth only Rs 50.16 million were sold. While savings bonds were previously handled by the NRB, the Public Debt Management Office has been managing their sale since last year. The program began collecting loans through savings bonds in the fiscal year 2009/10.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB data, despite issuing bids for the sale of savings bonds worth Rs 15.56 billion through 25 schemes as of last fiscal year, only 4.9% (equivalent to Rs 76.23 million) were sold.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The research indicates that among those who did not purchase savings bonds, the majority (39.5%) were unaware of the scheme. Additionally, 27% found the purchasing process complicated, and 21% struggled with obtaining the necessary certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NRB's study involved an on-site survey of 385 Nepali citizens who had recently gone abroad for employment or returned less than six months ago. The research report suggests increasing the sale of savings bonds by enabling online purchasing, allowing online certificate issuance and interest payments, and keeping the funds open until sold. Furthermore, it recommends that, given the government's use of savings bonds to cover budget deficits, a system be established to issue foreign employment savings bonds to raise targeted financial resources for critical infrastructure projects in the coming year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21416', 'image' => '20240730031428_coins-gb31eda77f_1920.jpg', 'article_date' => '2024-07-30 15:12:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21688', 'article_category_id' => '1', 'title' => 'Government Dilly-Dallying Bill to Compensate Air Crash Victims', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BIJAY DAMASE</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents. Of the 19 people on board the flight, 18 died in the crash. Since Nepal does not apply the provisions of the Montreal Convention on Air Flight 1999 to domestic flights, the relatives of the deceased will not receive the same compensation as those who lose their lives in international flight accidents.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In August 2018, Nepal's Parliament approved the Montreal Convention, which stipulates compensation of at least 113,100 Special Drawing Rights (SDRs) — approximately $149,951 or Rs 20,133,920 — from the insurance company for international flights. However, Nepal applies the older Warsaw Convention 1929 to domestic flights. According to this provision, in the event of a domestic flight accident, the passengers’ families receive at least $20,000 (Rs 2,625,400) per person from the insurance company in case of loss of life. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Deepak Kumar Pokharel, chairman of Saurya Airlines, stated that all insurance processes for the families of the deceased have been handled based on the current system. He also emphasized that the airline is committed to providing all necessary facilities as per the rules of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">After the Montreal Convention was passed, efforts to apply its provisions to domestic flights were stalled due to intense pressure from domestic airline operators. They argue that implementing these provisions would increase compensation amounts and insurance premiums, making it difficult for them to cover these costs. Anil Manandhar, spokesperson for Shree Airlines, noted that if the premiums are paid solely by the airlines, the burden will fall on passengers, potentially increasing operating expenses and affecting service affordability. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In February 2023, the Cabinet approved a draft bill to increase the compensation amount to $100,000 for domestic flight accidents. The draft bill includes provisions for the airline companies to cover all expenses related to repatriating the deceased and handling funeral arrangements, with no limits set on the airline's liability.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Despite the bill being drafted by the Ministry of Culture, Tourism, and Civil Aviation, it has yet to be submitted to Parliament. Nepali Congress MP Sanjay Gautam criticized the government's lack of action, emphasizing the need for fair compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Culture, Tourism, and Civil Aviation Minister Badri Prasad Pandey stated that the families of those who lost their lives in the Saurya Airlines crash will receive compensation according to the insurance policy purchased by the airline. Saurya's insurance is with Prabhu Insurance, and the amount will be paid according to the contract with the company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The draft bill, initially overseen by Buddhisagar Lamichhane, joint secretary of the Ministry of Tourism, has faced delays following his suspension on May 7. Lamichhane is implicated in a corruption case related to widebody aircraft procurement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ganesh Prasad Pandey, secretary of the Ministry of Tourism, confirmed that work is ongoing to finalize the draft bill and submit it to Parliament soon.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Proposed Arrangements</strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Families of passengers who lose their lives in domestic flight accidents will receive $100,000 in compensation.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline will be responsible for repatriating the deceased and covering all related expenses.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline operating organization cannot set liability limits lower than the amount specified by law.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline company will not be obliged to pay compensation in cases where death or disfigurement is due to a pre-existing serious illness.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> The compensation amount will be reviewed by the Government of Nepal every ten years.</span></span></li> </ul> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Current Arrangement</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal is currently implementing the provisions of the Warsaw Convention 1929 for domestic flights. Under this convention, if a passenger dies in a domestic flight accident, the next of kin will receive $20,000 in compensation from the insurance company. Claims for injuries during the flight can be made through the insurance company affiliated to the airline, with decisions on compensation being made within 60 days of claim submission.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21415', 'image' => '20240730031215_20220630032136_airraft.jpg', 'article_date' => '2024-07-30 15:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21690', 'article_category_id' => '1', 'title' => 'NEPSE Gains 35.55 Points to Close at 2696.65', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 30: The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Market experts and seasoned investors attributed this rise to positive investor sentiment, driven by the monetary policy issued by the Nepal Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today's trading session, 329 scrips were traded through 206,643 transactions. A total of 40,371,778 units of shares changed hands, resulting in a turnover of Rs 17.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Company (HRL) led in turnover, with transactions totaling Rs 60 crores. Progressive Finance Limited (PROFL), Barun Hydropower Limited (BARUN), Sanjen Jalavidhyut Company Limited (SANJE), and Nepal Warehousing Company Limited (NWCL) all gained 10%, reaching their daily upper circuit limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Asian Hydropower Limited (AHL) recorded the largest loss, falling 10% to close at Rs 792 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sensitive Index rose by 0.67%, while the Float Index and Sensitive Float Index increased by 1.17% and 0.76%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sectors closed in positive territory, except for the Banking Sector, Mutual Fund, Non-Life Insurance, and Trading Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hotels and Tourism Index saw the highest gain of 5.99%, while Banking Index incurred the maximum loss of 0.76%. </span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21414', 'image' => '20240730032856_collage (82).jpg', 'article_date' => '2024-07-30 15:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21687', 'article_category_id' => '1', 'title' => 'Prices of Gold and Silver Fall in Domestic Market', 'sub_title' => 'The precious yellow metal became cheaper by Rs 100 per tola on Tuesday', 'summary' => 'KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 146,100 per tola on Monday, is being traded at Rs 146,000 per tola on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the price of worked gold has declined to Rs 145,300 per tola from Rs 145,400 on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also fallen in the domestic market of Nepal by Rs 10 per tola. Silver is currently being traded at Rs 1,740 per tola, down from Rs 1,750 per tola the previous day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21413', 'image' => '20240730031121_cd5483b7.jpeg', 'article_date' => '2024-07-30 15:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21686', 'article_category_id' => '1', 'title' => 'NRB Reluctant to Regulate Cooperatives', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, the Federal Parliament amended both the NRB Act, 2058, and the Cooperatives Act, 2074, bringing cooperatives engaged in savings and loans of a certain size under NRB's regulatory scope. This amendment empowered NRB to issue instructions and standards for the regulation, inspection, and supervision of these cooperatives, specifically those with a share capital exceeding Rs 500 million or an annual turnover above a specified threshold. It also allowed NRB to take action in accordance with the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, despite the amendment, NRB has not yet issued standards or taken responsibility for regulating and supervising cooperatives. The monetary policy for the current fiscal year 2024/25 merely announces that the government will facilitate the creation of a separate agency to handle cooperatives and will work to return savings of up to Rs 500,000 to the depositors of troubled organizations, as mentioned in the current fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even though NRB is not directly responsible for monitoring cooperatives, it has been noted that issues within cooperatives impact the broader economy, especially concerning monetary policy. Resolving these issues could boost economic activity and improve loan recovery for banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s budget has promised to create a separate mechanism for regulating and supervising savings and credit cooperatives and to arrange for the return of up to Rs 500,000 of savings to the members of troubled cooperatives through property mortgage of the operators. NRB has pledged to support these arrangements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the Cooperatives Act, 2074, allowed NRB to monitor cooperatives with an annual turnover exceeding Rs 500 million. However, NRB has largely ignored this sector due to the lack of a corresponding provision in the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the law's amendment, NRB was expected to assume responsibility for setting standards and monitoring cooperatives but has neglected to do so. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of NRB, Guru Prasad Paudel, stated that internal preparations are underway to develop standards and guidelines according to the law, even though the monetary policy has not yet included this aspect. He mentioned that the NRB would only monitor based on recommendations from the Department of Cooperatives, and would act on those recommendations if needed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In February, NRB sent three officials to the department to monitor cooperatives, but they returned in May without any significant achievement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Cooperatives Act, 2048, savings and credit cooperatives must obtain permission from NRB to conduct banking transactions. Despite this, 43 cooperatives had obtained permission but did not engage in banking transactions. NRB opted to revoke licenses of 14 cooperatives after the enactment of the Cooperatives Act, 2074, withdrawing from direct monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank officials express concerns that taking quick responsibility of cooperatives might risk discrediting NRB as the cooperatives are struggling with corporate good governance issues. One official noted that the protests at the Department of Cooperatives might shift to the NRB head office in Baluwatar, suggesting NRB should avoid hasty action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudarshan Dhakal, former registrar of the Department of Cooperatives and a cooperative expert, argues that NRB cannot evade its responsibility for managing financial transactions of cooperatives. He points out that many countries have central banks regulating savings and credit cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Cooperative activists are lobbying for NRB’s involvement as a secondary regulator.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, cooperatives are monitored by the Department of Cooperatives at the federal, state, and local levels. However, after the transfer of regulatory authority to provincial and local levels, weak regulations have led to increased cases of misappropriation, directors becoming unresponsive, and members struggling to recover their savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To address these issues, a recommendation working group led by Dr. Jayakant Raut, a member of the National Planning Commission, has suggested that NRB should monitor cooperatives engaged in large transactions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Instructions to Contact Over a Dozen Operators of Cooperatives</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the parliamentary special committee investigating the misappropriation of cooperatives’ savings has directed the Ministry of Home Affairs to locate 18 individuals who have been out of contact after engaging in savings misappropriation, embezzlement, and fraud.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman Surya Thapa reported that these 18 individuals, who absconded after the misappropriation of members' savings, have been instructed to come in contact with the committee. The committee's directive includes contacting GB Rai, Gyan Bahadur Bomjan, Than Bahadur Budhamagar, and Bhupendra Rai of Suryadarshan Cooperative in Pokhara; Bharat Maharjan, Rajmaya Maharjan, Sachin Maharjan, and Sarla Maharjan of Sumeru Cooperative; Tej Bahadur Bamjan and Lilanath Gautam of Shivashikhar Cooperative; Devkumar Nepali, Dipak Paudel, and Cheda Nepali of Image Cooperative; Tasvir Khatun and Ashraf Ali of Sano Paila Cooperative; Sahara Chitwan's Subas KC; Meda Dream Multi-Purpose’s Mahashankar Regmi; and Kantipur’s Premdhwaj Lama.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21412', 'image' => '20240730024458_NRB new building.jpg', 'article_date' => '2024-07-30 14:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21685', 'article_category_id' => '1', 'title' => 'Torrential Downpour Likely in Next Two Days', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The division has advised everyone to remain alert, especially during the night, when extremely heavy rainfall is expected. Meteorologist Sanjeev Adhikari mentioned that while rainfall is likely at night, incessant rainfall is not expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari further stated that heavy to extremely heavy rainfall is expected in a few places in Koshi, Bagmati, Gandaki, Lumbini, and Sudurpaschim provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cloudy weather is predicted for Tuesday afternoon across the country, with light to moderate rain and thunder and lightning in some areas of all provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Tuesday night, heavy to extremely heavy rainfall is likely in a few places in Bagmati, Madhes, Gandaki, and Lumbini provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Wednesday, the weather throughout the country will remain cloudy. Light to moderate rainfall with thunder and lightning is expected in a few places in Madhes Province and some areas in the remaining provinces in the afternoon.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, light to moderate rainfall with thunder and lightning is predicted in a few places in Madhes, Karnali, and Sudurpaschim provinces, with heavy rainfall expected in one or two places in Koshi, Gandaki, and Lumbini provinces during Wednesday night. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21411', 'image' => '20240730014517_20230904111644_rain (1).jpeg', 'article_date' => '2024-07-30 13:44:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21701', 'article_category_id' => '1', 'title' => 'NEPSE Sets New Record with Rs 21.91 Billion Turnover', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) set the new record with highest turnover of Rs 21.91 billion ever recorded in its history on Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 31: The Nepal Stock Exchange(NEPSE) set the new record with highest daily turnover of Rs 21.91 billion ever recorded in its history on Wednesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index saw a substantial gain of 64.25 points or 2.38%, closing at 2760.90 on the fourth trading day of the week on Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, 332 different securities were traded through 238,272 transactions, with a total of 50,967,951 shares exchanged.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Today’s highest turnover was led by Himalayan Reinsurance Company Limited (HRL), which saw transactions totaling Rs 840 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Gurkhas Finance Limited (GUFL), Reliance Finance Limited (RLFL), and Shree Investment Finance Limited (SIFC), experienced a 10% increase, hitting the upper circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the other hand, Civil Bank Debenture 2088 (CBLD88) incurred the largest loss, dropping 7.92% to a market price of Rs 1070 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index rose by 2.19%, while the Float Index and Sensitive Float Index increased by 2.28% and 2.05%, respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices ended the day in positive territory, with the Finance Index recording the highest gain at 8.08%. The Microfinance Index saw the smallest increase, growing by 0.63%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21425', 'image' => '20240731033033_collage (4).jpg', 'article_date' => '2024-07-31 15:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21698', 'article_category_id' => '1', 'title' => 'Main Tunnel of Rahughat Hydropower Project Achieves Breakthrough', 'sub_title' => '', 'summary' => 'MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel. The project, with a capacity to generate 40 megawatts of electricity, is a subsidiary of Nepal Electricity Authority, promoted by Raghuganga Hydropower.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The main tunnel, which is 6,270 meters long, starts from the dam at the base of Dagnam in Raghuganga Rural Municipality-4 and ends at Tilkenichaur in Raghuganga Rural Municipality-3, according to the project’s Managing Director, Ganesh KC.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The breakthrough was accomplished by dividing the tunnel into four segments (audits). Raghuganga Rural Municipality Chairman Bhawa Bahadur Bhandari and the project’s Managing Director KC jointly activated a switch for the breakthrough of the 2,332-meter-long section of the tunnel linking the dam to Audit No. 2 at Agherikhola.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The tunnel construction includes 875 meters dug from Audit 1 and 1,458 meters from Audit 2. Lining work is ongoing in the 3,836 meters of Audit 2 and 3 tunnels, which had breakthroughs last March.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman Bhandari expressed his satisfaction with the tunnel's completion, highlighting that the tunnel construction is the project's primary task. He also noted that the rural municipality has facilitated and coordinated the project's efforts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Rahughat Hydropower Project is being developed with a concessional loan of USD 67 million from the Indian EXIM (Export-Import) Bank, alongside joint investment from NEA and the Government of Nepal. The contract agreement for the project's construction was signed with civil contractors Jaiprakash Associates (JP) in 2074 BS. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21424', 'image' => '20240731013756_hydro.jpg', 'article_date' => '2024-07-31 13:37:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21697', 'article_category_id' => '1', 'title' => 'Paddy Transplantation up by 14% this Year', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Until July 28, the transplantation was completed in 92.41 percent of the available land across the country this year while 78.1 percent transplantation had completed in the same period last year, according to the Ministry of Agriculture and Livestock Development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 1.398 million hectares designated for paddy cultivation, transplantation has been completed in 1.29 million hectares. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Government officials attributed the progress to sufficient rainfall and availability of chemical fertilisers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Monsoon arrived earlier this year leading to consistent rainfall,” said Hari Bahadur KC, spokesperson at the ministry. “And the availability of chemical fertilisers led to timely transplantation.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Farmers could not prepare rice saplings on time last year due to delayed rainfall, which negatively impacted transplantation, KC added, estimating paddy transplantation to increase to 98% of the available area this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the transplantation nears completion in Sudurpaschim Province, nearly 9 percent transplantation is yet to be completed in Koshi, according to the ministry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Spokesperson KC said the transplantation may have been delayed due to less rain in the east compared to the west this season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, paddy transplantation has completed in 96.9 percent of available land in Karnali.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the surge in transplantation, paddy harvest is projected to rise this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Paddy harvest had increased last year as well, which the government attributed to the growing use of technology. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers had harvested 5.7 million tonnes of paddy in the last fiscal year, 2023/24, a 4.33% increase from the previous year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21423', 'image' => '20240731124638_SA_SURKHET_DJI_174520.jpg', 'article_date' => '2024-07-31 12:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21696', 'article_category_id' => '1', 'title' => 'Heavy Rainfall Triggers Flooding in Kathmandu Valley; One Dead, 36 Rescued', 'sub_title' => 'River Sweeps Away Two Workers in Bhojpur, HIghways Obstructed ', 'summary' => 'KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. The rain also triggered landslides in various parts of the country, halting transportation services. One person died in Kathmandu’s Balkhu area, and two others were swept away by a river in eastern Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Police Spokesperson Dan Bahadur Karki reported that 12 individuals from Kathmandu district and 24 from Lalitpur district were rescued from flood-induced disasters. Among those rescued were 11 people from the Balkhu and Kuleshwor areas and one from New Buspark.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the state-owned RSS, riverbank areas in the city, including Balkhu, Bafal, the Dhobikhola corridor, and Sundarighat, experienced significant waterlogging due to inundation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition, a house was damaged by a landslide in Nagpokhari, Phutung in the northern outskirts of Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In Lalitpur district, 24 people were rescued, including two from UN Park, eight from Sundarighat, one from Balkumari, seven from Chagathali, and six from Mandir. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Weather Forecasting Division on Monday had warned of heavy rainfall in various parts of the country for the next three days ie until Wednesday.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Man Dies in Balkhukhola Flood</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A man lost his life in the Balkhukhola flood on Tuesday night. Police identified the deceased as 45-year-old Ram Swarup Mahato, whose body was recovered from the river near Balkhu in the capital city. Mahato was residing in the squatter settlement in Balkhu area, according to Dinesh Raj Mainali, Spokesperson of the Kathmandu Valley Police Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The heavy rainfall also caused flooding in the Bagmati River and its tributaries, including Hanumante, Manohara, Dhobikhola, Godawari, Bishnumati, and Balkhu, leading to the inundation of several settlements along the riverbanks in the Kathmandu Valley, RSS added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Flood Sweeps Away Two Workers of Hydropower Project in Bhojpur</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Two workers from an under-construction hydropower project in Bhojpur district went missing in a flood triggered by heavy rain on Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief of the District Police Office, Yubaraj Timsina, reported that 26-year-old Shyam Kumar Tharu and 30-year-old Ramesh Tharu, both from Barabardiya Rural Municipality-3 in Bardiya district, were swept away by the flood at the Ikhuwa Hydropower Project site in Salpasilichho Rural Municipality.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another worker, Ram Kisan Tharu, 26, was rescued and is receiving treatment at Kulung Health Post. Police are continuing the search for the missing workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sanfe-Martadi Highway Obstructed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Sanfe-Martadi highway has been blocked by a landslide triggered by incessant rainfall in the Nunepani area of Badimalika Municipality-6. Police Inspector Rabindra Singh Karki stated that efforts are underway to clear the debris, with technical teams and equipment deployed from the Sanfe Road Division Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the obstruction, long and short-distance vehicles, including cargo transport, have been stranded. The Martadi-Kolti road, which connects the northeastern part of the district, has also been closed to traffic for a month due to floods in the Bauli and Anai rivers, as well as a landslide in Jili area of Badimalika Municipality.</span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bensisahar-Chame Road Obstructed</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A landslide occurred at Kharkhare cliff in Bensisahar Municipality-6 of Lamjung district on Wednesday morning, causing obstruction to vehicular movement along the Bensisahar-Chame road section, according to the District Police Office. The landslide was triggered by heavy rainfall in the district since Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to RSS, Inspector Thaneshwor Chapain mentioned that the Kharkhare area is prone to landslides, and the obstruction has affected travelers to and from Manang and the northern belt of Lamjung. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21422', 'image' => '20240731121415_RG_BHAKTAPUR_IMG_3323.jpg', 'article_date' => '2024-07-31 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21695', 'article_category_id' => '1', 'title' => 'Tourist Arrivals at Chitwan National Park Surge in Last Fiscal Year', 'sub_title' => 'A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year', 'summary' => 'CHITWAN, July 30: Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">CHITWAN, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While 274,299 tourists entered the park through the Sauraha area in the last fiscal, an increase from 271,731 in the previous year, 27,956 entered the park through Bharatpur metropolis in the same period, an increase of 23,257 than in 2022/23, said Ganesh Prasad Tiwari, information officer, at the park.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Bishwa Subedi, a tourism expert from Bharatpur, attributed the rise in park visitors to the Chitwan Visit Year 2024, an initiative of the Bharatpur Metropolitan City to promote tourism.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Various religious and recreational events such as the Devghat Dham festival, jungle safari, and a marathon will be organised later this year,” said Subedi.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Diyalo Bungalow, the residence of the former royal family of Nepal where King Mahendra had passed away, was recently opened to the public. It has become a new tourism destination in Chitwan. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21421', 'image' => '20240731113820_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-07-31 11:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21693', 'article_category_id' => '1', 'title' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'sub_title' => '', 'summary' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Chinese Ambassador to Nepal Chen Song has reiterated China’s strong support for Nepal’s socio-economic development. In a recent event organized by the China Media Group Asia Pacific and Sino Nepal Media Society in Kathmandu, Ambassador Chen emphasized China’s commitment to advancing Nepal’s economic progress.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ambassador Chen emphasized that the projects under China's Belt and Road Initiative (BRI) align with Nepal's interests. He also noted that the reform plans from the recent Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) are crucial for neighboring countries like Nepal. <br /> He expressed his confidence that the citizens of both countries would benefit hugely from the reform plans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Those reform plans would be useful in advancing network building that would connect Nepal and China across the Himalayas as well as in optimizing the capacity of Nepal's agriculture, industry, trade, digital technology, energy and tourism sectors thereby opening up opportunities of prosperity for Nepal," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On a different note, the Chinese envoy said that the Third Plenum of the 20th central committee of the CPC also conveyed the message of China's consistent reform bid and openness. According to him, the CPC was embarking on a new journey in a new era by resolutely batting on reforms and openness. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21420', 'image' => '20240731104023_20220708010938_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-07-31 10:39:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21694', 'article_category_id' => '1', 'title' => 'Secured Transactions Bill in House Committee for Clause-Wise Discussion', 'sub_title' => 'Finance Minister’s proposal to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the lower house', 'summary' => 'KATHMANDU, July 31: The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 31</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting of the lower house on Tuesday sent the bill, which originated in the upper house, to the committee.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The proposal by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the house.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting also endorsed a proposal from Speaker Devaraj Ghimire to change the names of the members of the Parliamentary Investigation Special Committee, Monitoring and Evaluation of the Implementation of the Directive Principles, Policies and Obligations of the state Committee and various other thematic committees. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The next meeting of the House of Representatives has been scheduled for August 4. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21419', 'image' => '20240731111110_Parliament RSS 800.jpg', 'article_date' => '2024-07-31 11:10:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21692', 'article_category_id' => '1', 'title' => 'Milk Worth Over Rs 650 Million Consumed on Shrawan 15', 'sub_title' => '', 'summary' => 'On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">July 31: On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Nepal Dairy Association attributed the surge to the cultural tradition of preparing and eating kheer (rice pudding) on this particular day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Every year, the government observes Shrawan 15 as Kheer Khane Din, encouraging people to enjoy this special dish.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The Association also organized a kheer-eating program to promote consumption of milk and dairy products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> The Association has been actively promoting dairy consumption due to the increasing stock of milk and dairy products, which has created challenges in paying farmers. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21418', 'image' => '20240731055955_collage (83).jpg', 'article_date' => '2024-07-31 05:58:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21691', 'article_category_id' => '1', 'title' => 'Tech X 2024 kicks off at Softwarica College', 'sub_title' => 'Tech enthusiasts will be able to observe the college students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4', 'summary' => 'A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 30</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A semi-autonomous vehicle to detect cigarette butts and a Lethal Autonomous Weapon System as well as an autonomous shopping companion, interactive AI counsellor for college students, VR car simulator and automated recycle bin were some of the prototypes in exhibition at the Tech X 2024, the fourth edition of the Softwarica College’s technology exhibition, which kicked off in Dillibazar, Kathmandu on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Apart from these, the six-day event is also showcasing ransomware detection and prevention techniques, impact analysis of password cracking on cybersecurity, impact analysis of malicious application on cybersecurity and phishing and social engineering. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nikesh Bhandari, a BSc (Hons) Computing 4th semester student, was busy describing the prototype of the banking robot with Natural Language Processing (NLP) and facial recognition features to the visitors. It was made by the team of Bhattarai along with Sandesh Sapkota, Prajwal Pokharel and Prabin Tiwari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It provides personalised banking advice and plans using the Generative AI.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Many people find it difficult to fill the KYC form,” said Bhandari. “Our prototype can scan the basic information from the Citizenship card and fill in the required information.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the visitors to the exhibition on Tuesday were students from various schools across Kathmandu and young tech enthusiasts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Adarsh Bajracharya and his team which include Sworup Timalsina, Aashrit Shrestha, Princy Agrawal and Suyogya Makaju made R.O.B.O, a robotic dog to help the visually impaired individuals with their household tasks. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Equipped with voice command recognition, it responds to user instructions and aids in navigating the home environment safely using obstacles avoidance sensors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It can provide the visually impaired individuals with information such as the identities of visitors, their facial expressions, time, and reminder for taking medicines, besides helping them move within the house premises,” said Bajracharya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, a team of 10 students have made a prototype for a robot which can work as a tour guide in museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It utilises computer vision designed to follow a path and navigation through the museum by giving information and insights about each tour exhibit along the way. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Aryan Budhathoki, one of the members of the team, said it was aimed at providing an interactive experience to people visiting the museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Tech enthusiasts will be able to observe the Softwarica College students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The event also features the Robo Warrior League with more than 40 battle bots, also designed by the students. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Binod Shrestha, director at Softwarica College, said the event was an attempt to attract everybody’s attention towards the advancing technology sector and its impacts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“We aspire to educate people about the IT sector right from their early age as advancement in other sectors is impossible without advancement in this sector,” said Shrestha. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the free entry fee, the exhibition expects to attract more than 20,000 visitors this year.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21417', 'image' => '20240730065358_Softworica college_SunilSharma (39).jpg', 'article_date' => '2024-07-30 18:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21689', 'article_category_id' => '1', 'title' => 'Lack of Awareness Deters Sale of Foreign Employment Savings Bond', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. The scheme aims to invest income from remittances into the productive sector. Research conducted by Nepal Rastra Bank (NRB) has highlighted that the sale of these savings bonds is low due to a lack of awareness and the complexities involved in the purchasing process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year (FY), the government set a target to sell Rs 1 billion worth of foreign employment savings bonds. However, such bonds worth only Rs 50.16 million were sold. While savings bonds were previously handled by the NRB, the Public Debt Management Office has been managing their sale since last year. The program began collecting loans through savings bonds in the fiscal year 2009/10.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB data, despite issuing bids for the sale of savings bonds worth Rs 15.56 billion through 25 schemes as of last fiscal year, only 4.9% (equivalent to Rs 76.23 million) were sold.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The research indicates that among those who did not purchase savings bonds, the majority (39.5%) were unaware of the scheme. Additionally, 27% found the purchasing process complicated, and 21% struggled with obtaining the necessary certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NRB's study involved an on-site survey of 385 Nepali citizens who had recently gone abroad for employment or returned less than six months ago. The research report suggests increasing the sale of savings bonds by enabling online purchasing, allowing online certificate issuance and interest payments, and keeping the funds open until sold. Furthermore, it recommends that, given the government's use of savings bonds to cover budget deficits, a system be established to issue foreign employment savings bonds to raise targeted financial resources for critical infrastructure projects in the coming year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21416', 'image' => '20240730031428_coins-gb31eda77f_1920.jpg', 'article_date' => '2024-07-30 15:12:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21688', 'article_category_id' => '1', 'title' => 'Government Dilly-Dallying Bill to Compensate Air Crash Victims', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BIJAY DAMASE</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents. Of the 19 people on board the flight, 18 died in the crash. Since Nepal does not apply the provisions of the Montreal Convention on Air Flight 1999 to domestic flights, the relatives of the deceased will not receive the same compensation as those who lose their lives in international flight accidents.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In August 2018, Nepal's Parliament approved the Montreal Convention, which stipulates compensation of at least 113,100 Special Drawing Rights (SDRs) — approximately $149,951 or Rs 20,133,920 — from the insurance company for international flights. However, Nepal applies the older Warsaw Convention 1929 to domestic flights. According to this provision, in the event of a domestic flight accident, the passengers’ families receive at least $20,000 (Rs 2,625,400) per person from the insurance company in case of loss of life. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Deepak Kumar Pokharel, chairman of Saurya Airlines, stated that all insurance processes for the families of the deceased have been handled based on the current system. He also emphasized that the airline is committed to providing all necessary facilities as per the rules of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">After the Montreal Convention was passed, efforts to apply its provisions to domestic flights were stalled due to intense pressure from domestic airline operators. They argue that implementing these provisions would increase compensation amounts and insurance premiums, making it difficult for them to cover these costs. Anil Manandhar, spokesperson for Shree Airlines, noted that if the premiums are paid solely by the airlines, the burden will fall on passengers, potentially increasing operating expenses and affecting service affordability. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In February 2023, the Cabinet approved a draft bill to increase the compensation amount to $100,000 for domestic flight accidents. The draft bill includes provisions for the airline companies to cover all expenses related to repatriating the deceased and handling funeral arrangements, with no limits set on the airline's liability.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Despite the bill being drafted by the Ministry of Culture, Tourism, and Civil Aviation, it has yet to be submitted to Parliament. Nepali Congress MP Sanjay Gautam criticized the government's lack of action, emphasizing the need for fair compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Culture, Tourism, and Civil Aviation Minister Badri Prasad Pandey stated that the families of those who lost their lives in the Saurya Airlines crash will receive compensation according to the insurance policy purchased by the airline. Saurya's insurance is with Prabhu Insurance, and the amount will be paid according to the contract with the company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The draft bill, initially overseen by Buddhisagar Lamichhane, joint secretary of the Ministry of Tourism, has faced delays following his suspension on May 7. Lamichhane is implicated in a corruption case related to widebody aircraft procurement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ganesh Prasad Pandey, secretary of the Ministry of Tourism, confirmed that work is ongoing to finalize the draft bill and submit it to Parliament soon.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Proposed Arrangements</strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Families of passengers who lose their lives in domestic flight accidents will receive $100,000 in compensation.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline will be responsible for repatriating the deceased and covering all related expenses.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline operating organization cannot set liability limits lower than the amount specified by law.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline company will not be obliged to pay compensation in cases where death or disfigurement is due to a pre-existing serious illness.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> The compensation amount will be reviewed by the Government of Nepal every ten years.</span></span></li> </ul> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Current Arrangement</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal is currently implementing the provisions of the Warsaw Convention 1929 for domestic flights. Under this convention, if a passenger dies in a domestic flight accident, the next of kin will receive $20,000 in compensation from the insurance company. Claims for injuries during the flight can be made through the insurance company affiliated to the airline, with decisions on compensation being made within 60 days of claim submission.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21415', 'image' => '20240730031215_20220630032136_airraft.jpg', 'article_date' => '2024-07-30 15:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21690', 'article_category_id' => '1', 'title' => 'NEPSE Gains 35.55 Points to Close at 2696.65', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 30: The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Market experts and seasoned investors attributed this rise to positive investor sentiment, driven by the monetary policy issued by the Nepal Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today's trading session, 329 scrips were traded through 206,643 transactions. A total of 40,371,778 units of shares changed hands, resulting in a turnover of Rs 17.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Company (HRL) led in turnover, with transactions totaling Rs 60 crores. Progressive Finance Limited (PROFL), Barun Hydropower Limited (BARUN), Sanjen Jalavidhyut Company Limited (SANJE), and Nepal Warehousing Company Limited (NWCL) all gained 10%, reaching their daily upper circuit limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Asian Hydropower Limited (AHL) recorded the largest loss, falling 10% to close at Rs 792 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sensitive Index rose by 0.67%, while the Float Index and Sensitive Float Index increased by 1.17% and 0.76%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sectors closed in positive territory, except for the Banking Sector, Mutual Fund, Non-Life Insurance, and Trading Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hotels and Tourism Index saw the highest gain of 5.99%, while Banking Index incurred the maximum loss of 0.76%. </span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21414', 'image' => '20240730032856_collage (82).jpg', 'article_date' => '2024-07-30 15:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21687', 'article_category_id' => '1', 'title' => 'Prices of Gold and Silver Fall in Domestic Market', 'sub_title' => 'The precious yellow metal became cheaper by Rs 100 per tola on Tuesday', 'summary' => 'KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 146,100 per tola on Monday, is being traded at Rs 146,000 per tola on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the price of worked gold has declined to Rs 145,300 per tola from Rs 145,400 on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also fallen in the domestic market of Nepal by Rs 10 per tola. Silver is currently being traded at Rs 1,740 per tola, down from Rs 1,750 per tola the previous day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21413', 'image' => '20240730031121_cd5483b7.jpeg', 'article_date' => '2024-07-30 15:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21686', 'article_category_id' => '1', 'title' => 'NRB Reluctant to Regulate Cooperatives', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, the Federal Parliament amended both the NRB Act, 2058, and the Cooperatives Act, 2074, bringing cooperatives engaged in savings and loans of a certain size under NRB's regulatory scope. This amendment empowered NRB to issue instructions and standards for the regulation, inspection, and supervision of these cooperatives, specifically those with a share capital exceeding Rs 500 million or an annual turnover above a specified threshold. It also allowed NRB to take action in accordance with the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, despite the amendment, NRB has not yet issued standards or taken responsibility for regulating and supervising cooperatives. The monetary policy for the current fiscal year 2024/25 merely announces that the government will facilitate the creation of a separate agency to handle cooperatives and will work to return savings of up to Rs 500,000 to the depositors of troubled organizations, as mentioned in the current fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even though NRB is not directly responsible for monitoring cooperatives, it has been noted that issues within cooperatives impact the broader economy, especially concerning monetary policy. Resolving these issues could boost economic activity and improve loan recovery for banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s budget has promised to create a separate mechanism for regulating and supervising savings and credit cooperatives and to arrange for the return of up to Rs 500,000 of savings to the members of troubled cooperatives through property mortgage of the operators. NRB has pledged to support these arrangements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the Cooperatives Act, 2074, allowed NRB to monitor cooperatives with an annual turnover exceeding Rs 500 million. However, NRB has largely ignored this sector due to the lack of a corresponding provision in the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the law's amendment, NRB was expected to assume responsibility for setting standards and monitoring cooperatives but has neglected to do so. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of NRB, Guru Prasad Paudel, stated that internal preparations are underway to develop standards and guidelines according to the law, even though the monetary policy has not yet included this aspect. He mentioned that the NRB would only monitor based on recommendations from the Department of Cooperatives, and would act on those recommendations if needed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In February, NRB sent three officials to the department to monitor cooperatives, but they returned in May without any significant achievement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Cooperatives Act, 2048, savings and credit cooperatives must obtain permission from NRB to conduct banking transactions. Despite this, 43 cooperatives had obtained permission but did not engage in banking transactions. NRB opted to revoke licenses of 14 cooperatives after the enactment of the Cooperatives Act, 2074, withdrawing from direct monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank officials express concerns that taking quick responsibility of cooperatives might risk discrediting NRB as the cooperatives are struggling with corporate good governance issues. One official noted that the protests at the Department of Cooperatives might shift to the NRB head office in Baluwatar, suggesting NRB should avoid hasty action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudarshan Dhakal, former registrar of the Department of Cooperatives and a cooperative expert, argues that NRB cannot evade its responsibility for managing financial transactions of cooperatives. He points out that many countries have central banks regulating savings and credit cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Cooperative activists are lobbying for NRB’s involvement as a secondary regulator.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, cooperatives are monitored by the Department of Cooperatives at the federal, state, and local levels. However, after the transfer of regulatory authority to provincial and local levels, weak regulations have led to increased cases of misappropriation, directors becoming unresponsive, and members struggling to recover their savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To address these issues, a recommendation working group led by Dr. Jayakant Raut, a member of the National Planning Commission, has suggested that NRB should monitor cooperatives engaged in large transactions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Instructions to Contact Over a Dozen Operators of Cooperatives</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the parliamentary special committee investigating the misappropriation of cooperatives’ savings has directed the Ministry of Home Affairs to locate 18 individuals who have been out of contact after engaging in savings misappropriation, embezzlement, and fraud.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman Surya Thapa reported that these 18 individuals, who absconded after the misappropriation of members' savings, have been instructed to come in contact with the committee. The committee's directive includes contacting GB Rai, Gyan Bahadur Bomjan, Than Bahadur Budhamagar, and Bhupendra Rai of Suryadarshan Cooperative in Pokhara; Bharat Maharjan, Rajmaya Maharjan, Sachin Maharjan, and Sarla Maharjan of Sumeru Cooperative; Tej Bahadur Bamjan and Lilanath Gautam of Shivashikhar Cooperative; Devkumar Nepali, Dipak Paudel, and Cheda Nepali of Image Cooperative; Tasvir Khatun and Ashraf Ali of Sano Paila Cooperative; Sahara Chitwan's Subas KC; Meda Dream Multi-Purpose’s Mahashankar Regmi; and Kantipur’s Premdhwaj Lama.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21412', 'image' => '20240730024458_NRB new building.jpg', 'article_date' => '2024-07-30 14:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21685', 'article_category_id' => '1', 'title' => 'Torrential Downpour Likely in Next Two Days', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The division has advised everyone to remain alert, especially during the night, when extremely heavy rainfall is expected. Meteorologist Sanjeev Adhikari mentioned that while rainfall is likely at night, incessant rainfall is not expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari further stated that heavy to extremely heavy rainfall is expected in a few places in Koshi, Bagmati, Gandaki, Lumbini, and Sudurpaschim provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cloudy weather is predicted for Tuesday afternoon across the country, with light to moderate rain and thunder and lightning in some areas of all provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Tuesday night, heavy to extremely heavy rainfall is likely in a few places in Bagmati, Madhes, Gandaki, and Lumbini provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Wednesday, the weather throughout the country will remain cloudy. Light to moderate rainfall with thunder and lightning is expected in a few places in Madhes Province and some areas in the remaining provinces in the afternoon.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, light to moderate rainfall with thunder and lightning is predicted in a few places in Madhes, Karnali, and Sudurpaschim provinces, with heavy rainfall expected in one or two places in Koshi, Gandaki, and Lumbini provinces during Wednesday night. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21411', 'image' => '20240730014517_20230904111644_rain (1).jpeg', 'article_date' => '2024-07-30 13:44:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21701', 'article_category_id' => '1', 'title' => 'NEPSE Sets New Record with Rs 21.91 Billion Turnover', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) set the new record with highest turnover of Rs 21.91 billion ever recorded in its history on Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 31: The Nepal Stock Exchange(NEPSE) set the new record with highest daily turnover of Rs 21.91 billion ever recorded in its history on Wednesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index saw a substantial gain of 64.25 points or 2.38%, closing at 2760.90 on the fourth trading day of the week on Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, 332 different securities were traded through 238,272 transactions, with a total of 50,967,951 shares exchanged.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Today’s highest turnover was led by Himalayan Reinsurance Company Limited (HRL), which saw transactions totaling Rs 840 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Gurkhas Finance Limited (GUFL), Reliance Finance Limited (RLFL), and Shree Investment Finance Limited (SIFC), experienced a 10% increase, hitting the upper circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the other hand, Civil Bank Debenture 2088 (CBLD88) incurred the largest loss, dropping 7.92% to a market price of Rs 1070 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index rose by 2.19%, while the Float Index and Sensitive Float Index increased by 2.28% and 2.05%, respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices ended the day in positive territory, with the Finance Index recording the highest gain at 8.08%. The Microfinance Index saw the smallest increase, growing by 0.63%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21425', 'image' => '20240731033033_collage (4).jpg', 'article_date' => '2024-07-31 15:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21698', 'article_category_id' => '1', 'title' => 'Main Tunnel of Rahughat Hydropower Project Achieves Breakthrough', 'sub_title' => '', 'summary' => 'MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel. The project, with a capacity to generate 40 megawatts of electricity, is a subsidiary of Nepal Electricity Authority, promoted by Raghuganga Hydropower.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The main tunnel, which is 6,270 meters long, starts from the dam at the base of Dagnam in Raghuganga Rural Municipality-4 and ends at Tilkenichaur in Raghuganga Rural Municipality-3, according to the project’s Managing Director, Ganesh KC.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The breakthrough was accomplished by dividing the tunnel into four segments (audits). Raghuganga Rural Municipality Chairman Bhawa Bahadur Bhandari and the project’s Managing Director KC jointly activated a switch for the breakthrough of the 2,332-meter-long section of the tunnel linking the dam to Audit No. 2 at Agherikhola.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The tunnel construction includes 875 meters dug from Audit 1 and 1,458 meters from Audit 2. Lining work is ongoing in the 3,836 meters of Audit 2 and 3 tunnels, which had breakthroughs last March.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman Bhandari expressed his satisfaction with the tunnel's completion, highlighting that the tunnel construction is the project's primary task. He also noted that the rural municipality has facilitated and coordinated the project's efforts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Rahughat Hydropower Project is being developed with a concessional loan of USD 67 million from the Indian EXIM (Export-Import) Bank, alongside joint investment from NEA and the Government of Nepal. The contract agreement for the project's construction was signed with civil contractors Jaiprakash Associates (JP) in 2074 BS. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21424', 'image' => '20240731013756_hydro.jpg', 'article_date' => '2024-07-31 13:37:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21697', 'article_category_id' => '1', 'title' => 'Paddy Transplantation up by 14% this Year', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Until July 28, the transplantation was completed in 92.41 percent of the available land across the country this year while 78.1 percent transplantation had completed in the same period last year, according to the Ministry of Agriculture and Livestock Development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 1.398 million hectares designated for paddy cultivation, transplantation has been completed in 1.29 million hectares. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Government officials attributed the progress to sufficient rainfall and availability of chemical fertilisers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Monsoon arrived earlier this year leading to consistent rainfall,” said Hari Bahadur KC, spokesperson at the ministry. “And the availability of chemical fertilisers led to timely transplantation.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Farmers could not prepare rice saplings on time last year due to delayed rainfall, which negatively impacted transplantation, KC added, estimating paddy transplantation to increase to 98% of the available area this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the transplantation nears completion in Sudurpaschim Province, nearly 9 percent transplantation is yet to be completed in Koshi, according to the ministry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Spokesperson KC said the transplantation may have been delayed due to less rain in the east compared to the west this season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, paddy transplantation has completed in 96.9 percent of available land in Karnali.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the surge in transplantation, paddy harvest is projected to rise this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Paddy harvest had increased last year as well, which the government attributed to the growing use of technology. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers had harvested 5.7 million tonnes of paddy in the last fiscal year, 2023/24, a 4.33% increase from the previous year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21423', 'image' => '20240731124638_SA_SURKHET_DJI_174520.jpg', 'article_date' => '2024-07-31 12:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21696', 'article_category_id' => '1', 'title' => 'Heavy Rainfall Triggers Flooding in Kathmandu Valley; One Dead, 36 Rescued', 'sub_title' => 'River Sweeps Away Two Workers in Bhojpur, HIghways Obstructed ', 'summary' => 'KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. The rain also triggered landslides in various parts of the country, halting transportation services. One person died in Kathmandu’s Balkhu area, and two others were swept away by a river in eastern Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Police Spokesperson Dan Bahadur Karki reported that 12 individuals from Kathmandu district and 24 from Lalitpur district were rescued from flood-induced disasters. Among those rescued were 11 people from the Balkhu and Kuleshwor areas and one from New Buspark.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the state-owned RSS, riverbank areas in the city, including Balkhu, Bafal, the Dhobikhola corridor, and Sundarighat, experienced significant waterlogging due to inundation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition, a house was damaged by a landslide in Nagpokhari, Phutung in the northern outskirts of Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In Lalitpur district, 24 people were rescued, including two from UN Park, eight from Sundarighat, one from Balkumari, seven from Chagathali, and six from Mandir. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Weather Forecasting Division on Monday had warned of heavy rainfall in various parts of the country for the next three days ie until Wednesday.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Man Dies in Balkhukhola Flood</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A man lost his life in the Balkhukhola flood on Tuesday night. Police identified the deceased as 45-year-old Ram Swarup Mahato, whose body was recovered from the river near Balkhu in the capital city. Mahato was residing in the squatter settlement in Balkhu area, according to Dinesh Raj Mainali, Spokesperson of the Kathmandu Valley Police Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The heavy rainfall also caused flooding in the Bagmati River and its tributaries, including Hanumante, Manohara, Dhobikhola, Godawari, Bishnumati, and Balkhu, leading to the inundation of several settlements along the riverbanks in the Kathmandu Valley, RSS added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Flood Sweeps Away Two Workers of Hydropower Project in Bhojpur</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Two workers from an under-construction hydropower project in Bhojpur district went missing in a flood triggered by heavy rain on Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief of the District Police Office, Yubaraj Timsina, reported that 26-year-old Shyam Kumar Tharu and 30-year-old Ramesh Tharu, both from Barabardiya Rural Municipality-3 in Bardiya district, were swept away by the flood at the Ikhuwa Hydropower Project site in Salpasilichho Rural Municipality.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another worker, Ram Kisan Tharu, 26, was rescued and is receiving treatment at Kulung Health Post. Police are continuing the search for the missing workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sanfe-Martadi Highway Obstructed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Sanfe-Martadi highway has been blocked by a landslide triggered by incessant rainfall in the Nunepani area of Badimalika Municipality-6. Police Inspector Rabindra Singh Karki stated that efforts are underway to clear the debris, with technical teams and equipment deployed from the Sanfe Road Division Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the obstruction, long and short-distance vehicles, including cargo transport, have been stranded. The Martadi-Kolti road, which connects the northeastern part of the district, has also been closed to traffic for a month due to floods in the Bauli and Anai rivers, as well as a landslide in Jili area of Badimalika Municipality.</span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bensisahar-Chame Road Obstructed</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A landslide occurred at Kharkhare cliff in Bensisahar Municipality-6 of Lamjung district on Wednesday morning, causing obstruction to vehicular movement along the Bensisahar-Chame road section, according to the District Police Office. The landslide was triggered by heavy rainfall in the district since Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to RSS, Inspector Thaneshwor Chapain mentioned that the Kharkhare area is prone to landslides, and the obstruction has affected travelers to and from Manang and the northern belt of Lamjung. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21422', 'image' => '20240731121415_RG_BHAKTAPUR_IMG_3323.jpg', 'article_date' => '2024-07-31 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21695', 'article_category_id' => '1', 'title' => 'Tourist Arrivals at Chitwan National Park Surge in Last Fiscal Year', 'sub_title' => 'A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year', 'summary' => 'CHITWAN, July 30: Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">CHITWAN, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While 274,299 tourists entered the park through the Sauraha area in the last fiscal, an increase from 271,731 in the previous year, 27,956 entered the park through Bharatpur metropolis in the same period, an increase of 23,257 than in 2022/23, said Ganesh Prasad Tiwari, information officer, at the park.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Bishwa Subedi, a tourism expert from Bharatpur, attributed the rise in park visitors to the Chitwan Visit Year 2024, an initiative of the Bharatpur Metropolitan City to promote tourism.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Various religious and recreational events such as the Devghat Dham festival, jungle safari, and a marathon will be organised later this year,” said Subedi.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Diyalo Bungalow, the residence of the former royal family of Nepal where King Mahendra had passed away, was recently opened to the public. It has become a new tourism destination in Chitwan. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21421', 'image' => '20240731113820_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-07-31 11:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21693', 'article_category_id' => '1', 'title' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'sub_title' => '', 'summary' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Chinese Ambassador to Nepal Chen Song has reiterated China’s strong support for Nepal’s socio-economic development. In a recent event organized by the China Media Group Asia Pacific and Sino Nepal Media Society in Kathmandu, Ambassador Chen emphasized China’s commitment to advancing Nepal’s economic progress.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ambassador Chen emphasized that the projects under China's Belt and Road Initiative (BRI) align with Nepal's interests. He also noted that the reform plans from the recent Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) are crucial for neighboring countries like Nepal. <br /> He expressed his confidence that the citizens of both countries would benefit hugely from the reform plans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Those reform plans would be useful in advancing network building that would connect Nepal and China across the Himalayas as well as in optimizing the capacity of Nepal's agriculture, industry, trade, digital technology, energy and tourism sectors thereby opening up opportunities of prosperity for Nepal," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On a different note, the Chinese envoy said that the Third Plenum of the 20th central committee of the CPC also conveyed the message of China's consistent reform bid and openness. According to him, the CPC was embarking on a new journey in a new era by resolutely batting on reforms and openness. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21420', 'image' => '20240731104023_20220708010938_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-07-31 10:39:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21694', 'article_category_id' => '1', 'title' => 'Secured Transactions Bill in House Committee for Clause-Wise Discussion', 'sub_title' => 'Finance Minister’s proposal to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the lower house', 'summary' => 'KATHMANDU, July 31: The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 31</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting of the lower house on Tuesday sent the bill, which originated in the upper house, to the committee.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The proposal by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the house.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting also endorsed a proposal from Speaker Devaraj Ghimire to change the names of the members of the Parliamentary Investigation Special Committee, Monitoring and Evaluation of the Implementation of the Directive Principles, Policies and Obligations of the state Committee and various other thematic committees. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The next meeting of the House of Representatives has been scheduled for August 4. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21419', 'image' => '20240731111110_Parliament RSS 800.jpg', 'article_date' => '2024-07-31 11:10:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21692', 'article_category_id' => '1', 'title' => 'Milk Worth Over Rs 650 Million Consumed on Shrawan 15', 'sub_title' => '', 'summary' => 'On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">July 31: On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Nepal Dairy Association attributed the surge to the cultural tradition of preparing and eating kheer (rice pudding) on this particular day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Every year, the government observes Shrawan 15 as Kheer Khane Din, encouraging people to enjoy this special dish.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The Association also organized a kheer-eating program to promote consumption of milk and dairy products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> The Association has been actively promoting dairy consumption due to the increasing stock of milk and dairy products, which has created challenges in paying farmers. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21418', 'image' => '20240731055955_collage (83).jpg', 'article_date' => '2024-07-31 05:58:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21691', 'article_category_id' => '1', 'title' => 'Tech X 2024 kicks off at Softwarica College', 'sub_title' => 'Tech enthusiasts will be able to observe the college students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4', 'summary' => 'A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 30</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A semi-autonomous vehicle to detect cigarette butts and a Lethal Autonomous Weapon System as well as an autonomous shopping companion, interactive AI counsellor for college students, VR car simulator and automated recycle bin were some of the prototypes in exhibition at the Tech X 2024, the fourth edition of the Softwarica College’s technology exhibition, which kicked off in Dillibazar, Kathmandu on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Apart from these, the six-day event is also showcasing ransomware detection and prevention techniques, impact analysis of password cracking on cybersecurity, impact analysis of malicious application on cybersecurity and phishing and social engineering. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nikesh Bhandari, a BSc (Hons) Computing 4th semester student, was busy describing the prototype of the banking robot with Natural Language Processing (NLP) and facial recognition features to the visitors. It was made by the team of Bhattarai along with Sandesh Sapkota, Prajwal Pokharel and Prabin Tiwari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It provides personalised banking advice and plans using the Generative AI.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Many people find it difficult to fill the KYC form,” said Bhandari. “Our prototype can scan the basic information from the Citizenship card and fill in the required information.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the visitors to the exhibition on Tuesday were students from various schools across Kathmandu and young tech enthusiasts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Adarsh Bajracharya and his team which include Sworup Timalsina, Aashrit Shrestha, Princy Agrawal and Suyogya Makaju made R.O.B.O, a robotic dog to help the visually impaired individuals with their household tasks. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Equipped with voice command recognition, it responds to user instructions and aids in navigating the home environment safely using obstacles avoidance sensors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It can provide the visually impaired individuals with information such as the identities of visitors, their facial expressions, time, and reminder for taking medicines, besides helping them move within the house premises,” said Bajracharya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, a team of 10 students have made a prototype for a robot which can work as a tour guide in museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It utilises computer vision designed to follow a path and navigation through the museum by giving information and insights about each tour exhibit along the way. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Aryan Budhathoki, one of the members of the team, said it was aimed at providing an interactive experience to people visiting the museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Tech enthusiasts will be able to observe the Softwarica College students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The event also features the Robo Warrior League with more than 40 battle bots, also designed by the students. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Binod Shrestha, director at Softwarica College, said the event was an attempt to attract everybody’s attention towards the advancing technology sector and its impacts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“We aspire to educate people about the IT sector right from their early age as advancement in other sectors is impossible without advancement in this sector,” said Shrestha. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the free entry fee, the exhibition expects to attract more than 20,000 visitors this year.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21417', 'image' => '20240730065358_Softworica college_SunilSharma (39).jpg', 'article_date' => '2024-07-30 18:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21689', 'article_category_id' => '1', 'title' => 'Lack of Awareness Deters Sale of Foreign Employment Savings Bond', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. The scheme aims to invest income from remittances into the productive sector. Research conducted by Nepal Rastra Bank (NRB) has highlighted that the sale of these savings bonds is low due to a lack of awareness and the complexities involved in the purchasing process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year (FY), the government set a target to sell Rs 1 billion worth of foreign employment savings bonds. However, such bonds worth only Rs 50.16 million were sold. While savings bonds were previously handled by the NRB, the Public Debt Management Office has been managing their sale since last year. The program began collecting loans through savings bonds in the fiscal year 2009/10.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB data, despite issuing bids for the sale of savings bonds worth Rs 15.56 billion through 25 schemes as of last fiscal year, only 4.9% (equivalent to Rs 76.23 million) were sold.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The research indicates that among those who did not purchase savings bonds, the majority (39.5%) were unaware of the scheme. Additionally, 27% found the purchasing process complicated, and 21% struggled with obtaining the necessary certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NRB's study involved an on-site survey of 385 Nepali citizens who had recently gone abroad for employment or returned less than six months ago. The research report suggests increasing the sale of savings bonds by enabling online purchasing, allowing online certificate issuance and interest payments, and keeping the funds open until sold. Furthermore, it recommends that, given the government's use of savings bonds to cover budget deficits, a system be established to issue foreign employment savings bonds to raise targeted financial resources for critical infrastructure projects in the coming year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21416', 'image' => '20240730031428_coins-gb31eda77f_1920.jpg', 'article_date' => '2024-07-30 15:12:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21688', 'article_category_id' => '1', 'title' => 'Government Dilly-Dallying Bill to Compensate Air Crash Victims', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BIJAY DAMASE</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents. Of the 19 people on board the flight, 18 died in the crash. Since Nepal does not apply the provisions of the Montreal Convention on Air Flight 1999 to domestic flights, the relatives of the deceased will not receive the same compensation as those who lose their lives in international flight accidents.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In August 2018, Nepal's Parliament approved the Montreal Convention, which stipulates compensation of at least 113,100 Special Drawing Rights (SDRs) — approximately $149,951 or Rs 20,133,920 — from the insurance company for international flights. However, Nepal applies the older Warsaw Convention 1929 to domestic flights. According to this provision, in the event of a domestic flight accident, the passengers’ families receive at least $20,000 (Rs 2,625,400) per person from the insurance company in case of loss of life. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Deepak Kumar Pokharel, chairman of Saurya Airlines, stated that all insurance processes for the families of the deceased have been handled based on the current system. He also emphasized that the airline is committed to providing all necessary facilities as per the rules of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">After the Montreal Convention was passed, efforts to apply its provisions to domestic flights were stalled due to intense pressure from domestic airline operators. They argue that implementing these provisions would increase compensation amounts and insurance premiums, making it difficult for them to cover these costs. Anil Manandhar, spokesperson for Shree Airlines, noted that if the premiums are paid solely by the airlines, the burden will fall on passengers, potentially increasing operating expenses and affecting service affordability. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In February 2023, the Cabinet approved a draft bill to increase the compensation amount to $100,000 for domestic flight accidents. The draft bill includes provisions for the airline companies to cover all expenses related to repatriating the deceased and handling funeral arrangements, with no limits set on the airline's liability.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Despite the bill being drafted by the Ministry of Culture, Tourism, and Civil Aviation, it has yet to be submitted to Parliament. Nepali Congress MP Sanjay Gautam criticized the government's lack of action, emphasizing the need for fair compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Culture, Tourism, and Civil Aviation Minister Badri Prasad Pandey stated that the families of those who lost their lives in the Saurya Airlines crash will receive compensation according to the insurance policy purchased by the airline. Saurya's insurance is with Prabhu Insurance, and the amount will be paid according to the contract with the company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The draft bill, initially overseen by Buddhisagar Lamichhane, joint secretary of the Ministry of Tourism, has faced delays following his suspension on May 7. Lamichhane is implicated in a corruption case related to widebody aircraft procurement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ganesh Prasad Pandey, secretary of the Ministry of Tourism, confirmed that work is ongoing to finalize the draft bill and submit it to Parliament soon.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Proposed Arrangements</strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Families of passengers who lose their lives in domestic flight accidents will receive $100,000 in compensation.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline will be responsible for repatriating the deceased and covering all related expenses.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline operating organization cannot set liability limits lower than the amount specified by law.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline company will not be obliged to pay compensation in cases where death or disfigurement is due to a pre-existing serious illness.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> The compensation amount will be reviewed by the Government of Nepal every ten years.</span></span></li> </ul> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Current Arrangement</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal is currently implementing the provisions of the Warsaw Convention 1929 for domestic flights. Under this convention, if a passenger dies in a domestic flight accident, the next of kin will receive $20,000 in compensation from the insurance company. Claims for injuries during the flight can be made through the insurance company affiliated to the airline, with decisions on compensation being made within 60 days of claim submission.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21415', 'image' => '20240730031215_20220630032136_airraft.jpg', 'article_date' => '2024-07-30 15:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21690', 'article_category_id' => '1', 'title' => 'NEPSE Gains 35.55 Points to Close at 2696.65', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 30: The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Market experts and seasoned investors attributed this rise to positive investor sentiment, driven by the monetary policy issued by the Nepal Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today's trading session, 329 scrips were traded through 206,643 transactions. A total of 40,371,778 units of shares changed hands, resulting in a turnover of Rs 17.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Company (HRL) led in turnover, with transactions totaling Rs 60 crores. Progressive Finance Limited (PROFL), Barun Hydropower Limited (BARUN), Sanjen Jalavidhyut Company Limited (SANJE), and Nepal Warehousing Company Limited (NWCL) all gained 10%, reaching their daily upper circuit limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Asian Hydropower Limited (AHL) recorded the largest loss, falling 10% to close at Rs 792 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sensitive Index rose by 0.67%, while the Float Index and Sensitive Float Index increased by 1.17% and 0.76%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sectors closed in positive territory, except for the Banking Sector, Mutual Fund, Non-Life Insurance, and Trading Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hotels and Tourism Index saw the highest gain of 5.99%, while Banking Index incurred the maximum loss of 0.76%. </span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21414', 'image' => '20240730032856_collage (82).jpg', 'article_date' => '2024-07-30 15:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21687', 'article_category_id' => '1', 'title' => 'Prices of Gold and Silver Fall in Domestic Market', 'sub_title' => 'The precious yellow metal became cheaper by Rs 100 per tola on Tuesday', 'summary' => 'KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 146,100 per tola on Monday, is being traded at Rs 146,000 per tola on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the price of worked gold has declined to Rs 145,300 per tola from Rs 145,400 on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also fallen in the domestic market of Nepal by Rs 10 per tola. Silver is currently being traded at Rs 1,740 per tola, down from Rs 1,750 per tola the previous day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21413', 'image' => '20240730031121_cd5483b7.jpeg', 'article_date' => '2024-07-30 15:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21686', 'article_category_id' => '1', 'title' => 'NRB Reluctant to Regulate Cooperatives', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, the Federal Parliament amended both the NRB Act, 2058, and the Cooperatives Act, 2074, bringing cooperatives engaged in savings and loans of a certain size under NRB's regulatory scope. This amendment empowered NRB to issue instructions and standards for the regulation, inspection, and supervision of these cooperatives, specifically those with a share capital exceeding Rs 500 million or an annual turnover above a specified threshold. It also allowed NRB to take action in accordance with the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, despite the amendment, NRB has not yet issued standards or taken responsibility for regulating and supervising cooperatives. The monetary policy for the current fiscal year 2024/25 merely announces that the government will facilitate the creation of a separate agency to handle cooperatives and will work to return savings of up to Rs 500,000 to the depositors of troubled organizations, as mentioned in the current fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even though NRB is not directly responsible for monitoring cooperatives, it has been noted that issues within cooperatives impact the broader economy, especially concerning monetary policy. Resolving these issues could boost economic activity and improve loan recovery for banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s budget has promised to create a separate mechanism for regulating and supervising savings and credit cooperatives and to arrange for the return of up to Rs 500,000 of savings to the members of troubled cooperatives through property mortgage of the operators. NRB has pledged to support these arrangements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the Cooperatives Act, 2074, allowed NRB to monitor cooperatives with an annual turnover exceeding Rs 500 million. However, NRB has largely ignored this sector due to the lack of a corresponding provision in the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the law's amendment, NRB was expected to assume responsibility for setting standards and monitoring cooperatives but has neglected to do so. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of NRB, Guru Prasad Paudel, stated that internal preparations are underway to develop standards and guidelines according to the law, even though the monetary policy has not yet included this aspect. He mentioned that the NRB would only monitor based on recommendations from the Department of Cooperatives, and would act on those recommendations if needed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In February, NRB sent three officials to the department to monitor cooperatives, but they returned in May without any significant achievement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Cooperatives Act, 2048, savings and credit cooperatives must obtain permission from NRB to conduct banking transactions. Despite this, 43 cooperatives had obtained permission but did not engage in banking transactions. NRB opted to revoke licenses of 14 cooperatives after the enactment of the Cooperatives Act, 2074, withdrawing from direct monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank officials express concerns that taking quick responsibility of cooperatives might risk discrediting NRB as the cooperatives are struggling with corporate good governance issues. One official noted that the protests at the Department of Cooperatives might shift to the NRB head office in Baluwatar, suggesting NRB should avoid hasty action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudarshan Dhakal, former registrar of the Department of Cooperatives and a cooperative expert, argues that NRB cannot evade its responsibility for managing financial transactions of cooperatives. He points out that many countries have central banks regulating savings and credit cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Cooperative activists are lobbying for NRB’s involvement as a secondary regulator.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, cooperatives are monitored by the Department of Cooperatives at the federal, state, and local levels. However, after the transfer of regulatory authority to provincial and local levels, weak regulations have led to increased cases of misappropriation, directors becoming unresponsive, and members struggling to recover their savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To address these issues, a recommendation working group led by Dr. Jayakant Raut, a member of the National Planning Commission, has suggested that NRB should monitor cooperatives engaged in large transactions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Instructions to Contact Over a Dozen Operators of Cooperatives</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the parliamentary special committee investigating the misappropriation of cooperatives’ savings has directed the Ministry of Home Affairs to locate 18 individuals who have been out of contact after engaging in savings misappropriation, embezzlement, and fraud.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman Surya Thapa reported that these 18 individuals, who absconded after the misappropriation of members' savings, have been instructed to come in contact with the committee. The committee's directive includes contacting GB Rai, Gyan Bahadur Bomjan, Than Bahadur Budhamagar, and Bhupendra Rai of Suryadarshan Cooperative in Pokhara; Bharat Maharjan, Rajmaya Maharjan, Sachin Maharjan, and Sarla Maharjan of Sumeru Cooperative; Tej Bahadur Bamjan and Lilanath Gautam of Shivashikhar Cooperative; Devkumar Nepali, Dipak Paudel, and Cheda Nepali of Image Cooperative; Tasvir Khatun and Ashraf Ali of Sano Paila Cooperative; Sahara Chitwan's Subas KC; Meda Dream Multi-Purpose’s Mahashankar Regmi; and Kantipur’s Premdhwaj Lama.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21412', 'image' => '20240730024458_NRB new building.jpg', 'article_date' => '2024-07-30 14:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21685', 'article_category_id' => '1', 'title' => 'Torrential Downpour Likely in Next Two Days', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The division has advised everyone to remain alert, especially during the night, when extremely heavy rainfall is expected. Meteorologist Sanjeev Adhikari mentioned that while rainfall is likely at night, incessant rainfall is not expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari further stated that heavy to extremely heavy rainfall is expected in a few places in Koshi, Bagmati, Gandaki, Lumbini, and Sudurpaschim provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cloudy weather is predicted for Tuesday afternoon across the country, with light to moderate rain and thunder and lightning in some areas of all provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Tuesday night, heavy to extremely heavy rainfall is likely in a few places in Bagmati, Madhes, Gandaki, and Lumbini provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Wednesday, the weather throughout the country will remain cloudy. Light to moderate rainfall with thunder and lightning is expected in a few places in Madhes Province and some areas in the remaining provinces in the afternoon.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, light to moderate rainfall with thunder and lightning is predicted in a few places in Madhes, Karnali, and Sudurpaschim provinces, with heavy rainfall expected in one or two places in Koshi, Gandaki, and Lumbini provinces during Wednesday night. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21411', 'image' => '20240730014517_20230904111644_rain (1).jpeg', 'article_date' => '2024-07-30 13:44:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The Microfinance Index saw the smallest increase, growing by 0.63%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21425', 'image' => '20240731033033_collage (4).jpg', 'article_date' => '2024-07-31 15:29:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21698', 'article_category_id' => '1', 'title' => 'Main Tunnel of Rahughat Hydropower Project Achieves Breakthrough', 'sub_title' => '', 'summary' => 'MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">MYAGDI, July 31: The Rahughat Hydropower Project, currently under construction in Raghuganga Rural Municipality of Myagdi district, achieved a significant milestone on Tuesday with the breakthrough of its main tunnel. The project, with a capacity to generate 40 megawatts of electricity, is a subsidiary of Nepal Electricity Authority, promoted by Raghuganga Hydropower.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The main tunnel, which is 6,270 meters long, starts from the dam at the base of Dagnam in Raghuganga Rural Municipality-4 and ends at Tilkenichaur in Raghuganga Rural Municipality-3, according to the project’s Managing Director, Ganesh KC.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The breakthrough was accomplished by dividing the tunnel into four segments (audits). Raghuganga Rural Municipality Chairman Bhawa Bahadur Bhandari and the project’s Managing Director KC jointly activated a switch for the breakthrough of the 2,332-meter-long section of the tunnel linking the dam to Audit No. 2 at Agherikhola.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The tunnel construction includes 875 meters dug from Audit 1 and 1,458 meters from Audit 2. Lining work is ongoing in the 3,836 meters of Audit 2 and 3 tunnels, which had breakthroughs last March.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman Bhandari expressed his satisfaction with the tunnel's completion, highlighting that the tunnel construction is the project's primary task. He also noted that the rural municipality has facilitated and coordinated the project's efforts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Rahughat Hydropower Project is being developed with a concessional loan of USD 67 million from the Indian EXIM (Export-Import) Bank, alongside joint investment from NEA and the Government of Nepal. The contract agreement for the project's construction was signed with civil contractors Jaiprakash Associates (JP) in 2074 BS. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21424', 'image' => '20240731013756_hydro.jpg', 'article_date' => '2024-07-31 13:37:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21697', 'article_category_id' => '1', 'title' => 'Paddy Transplantation up by 14% this Year', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers have transplanted paddy in around 14% more areas available for paddy cultivation this year in comparison to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Until July 28, the transplantation was completed in 92.41 percent of the available land across the country this year while 78.1 percent transplantation had completed in the same period last year, according to the Ministry of Agriculture and Livestock Development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 1.398 million hectares designated for paddy cultivation, transplantation has been completed in 1.29 million hectares. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Government officials attributed the progress to sufficient rainfall and availability of chemical fertilisers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Monsoon arrived earlier this year leading to consistent rainfall,” said Hari Bahadur KC, spokesperson at the ministry. “And the availability of chemical fertilisers led to timely transplantation.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Farmers could not prepare rice saplings on time last year due to delayed rainfall, which negatively impacted transplantation, KC added, estimating paddy transplantation to increase to 98% of the available area this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the transplantation nears completion in Sudurpaschim Province, nearly 9 percent transplantation is yet to be completed in Koshi, according to the ministry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Spokesperson KC said the transplantation may have been delayed due to less rain in the east compared to the west this season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, paddy transplantation has completed in 96.9 percent of available land in Karnali.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the surge in transplantation, paddy harvest is projected to rise this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Paddy harvest had increased last year as well, which the government attributed to the growing use of technology. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepali farmers had harvested 5.7 million tonnes of paddy in the last fiscal year, 2023/24, a 4.33% increase from the previous year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21423', 'image' => '20240731124638_SA_SURKHET_DJI_174520.jpg', 'article_date' => '2024-07-31 12:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21696', 'article_category_id' => '1', 'title' => 'Heavy Rainfall Triggers Flooding in Kathmandu Valley; One Dead, 36 Rescued', 'sub_title' => 'River Sweeps Away Two Workers in Bhojpur, HIghways Obstructed ', 'summary' => 'KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 31: Heavy rainfall on Tuesday night caused widespread flooding in Kathmandu Valley, disrupting daily life and inundating several areas. The rain also triggered landslides in various parts of the country, halting transportation services. One person died in Kathmandu’s Balkhu area, and two others were swept away by a river in eastern Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Police Spokesperson Dan Bahadur Karki reported that 12 individuals from Kathmandu district and 24 from Lalitpur district were rescued from flood-induced disasters. Among those rescued were 11 people from the Balkhu and Kuleshwor areas and one from New Buspark.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the state-owned RSS, riverbank areas in the city, including Balkhu, Bafal, the Dhobikhola corridor, and Sundarighat, experienced significant waterlogging due to inundation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition, a house was damaged by a landslide in Nagpokhari, Phutung in the northern outskirts of Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In Lalitpur district, 24 people were rescued, including two from UN Park, eight from Sundarighat, one from Balkumari, seven from Chagathali, and six from Mandir. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Weather Forecasting Division on Monday had warned of heavy rainfall in various parts of the country for the next three days ie until Wednesday.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Man Dies in Balkhukhola Flood</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A man lost his life in the Balkhukhola flood on Tuesday night. Police identified the deceased as 45-year-old Ram Swarup Mahato, whose body was recovered from the river near Balkhu in the capital city. Mahato was residing in the squatter settlement in Balkhu area, according to Dinesh Raj Mainali, Spokesperson of the Kathmandu Valley Police Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The heavy rainfall also caused flooding in the Bagmati River and its tributaries, including Hanumante, Manohara, Dhobikhola, Godawari, Bishnumati, and Balkhu, leading to the inundation of several settlements along the riverbanks in the Kathmandu Valley, RSS added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Flood Sweeps Away Two Workers of Hydropower Project in Bhojpur</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Two workers from an under-construction hydropower project in Bhojpur district went missing in a flood triggered by heavy rain on Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief of the District Police Office, Yubaraj Timsina, reported that 26-year-old Shyam Kumar Tharu and 30-year-old Ramesh Tharu, both from Barabardiya Rural Municipality-3 in Bardiya district, were swept away by the flood at the Ikhuwa Hydropower Project site in Salpasilichho Rural Municipality.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another worker, Ram Kisan Tharu, 26, was rescued and is receiving treatment at Kulung Health Post. Police are continuing the search for the missing workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sanfe-Martadi Highway Obstructed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Sanfe-Martadi highway has been blocked by a landslide triggered by incessant rainfall in the Nunepani area of Badimalika Municipality-6. Police Inspector Rabindra Singh Karki stated that efforts are underway to clear the debris, with technical teams and equipment deployed from the Sanfe Road Division Office.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the obstruction, long and short-distance vehicles, including cargo transport, have been stranded. The Martadi-Kolti road, which connects the northeastern part of the district, has also been closed to traffic for a month due to floods in the Bauli and Anai rivers, as well as a landslide in Jili area of Badimalika Municipality.</span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bensisahar-Chame Road Obstructed</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A landslide occurred at Kharkhare cliff in Bensisahar Municipality-6 of Lamjung district on Wednesday morning, causing obstruction to vehicular movement along the Bensisahar-Chame road section, according to the District Police Office. The landslide was triggered by heavy rainfall in the district since Tuesday night.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to RSS, Inspector Thaneshwor Chapain mentioned that the Kharkhare area is prone to landslides, and the obstruction has affected travelers to and from Manang and the northern belt of Lamjung. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21422', 'image' => '20240731121415_RG_BHAKTAPUR_IMG_3323.jpg', 'article_date' => '2024-07-31 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21695', 'article_category_id' => '1', 'title' => 'Tourist Arrivals at Chitwan National Park Surge in Last Fiscal Year', 'sub_title' => 'A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year', 'summary' => 'CHITWAN, July 30: Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">CHITWAN, July 30: </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Chitwan National Park saw an increase in arrival of tourists in fiscal year 2023/24 compared to FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A total of 306,837 tourists visited the park in the last fiscal year compared to 299,412 travellers in the previous fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While 274,299 tourists entered the park through the Sauraha area in the last fiscal, an increase from 271,731 in the previous year, 27,956 entered the park through Bharatpur metropolis in the same period, an increase of 23,257 than in 2022/23, said Ganesh Prasad Tiwari, information officer, at the park.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Bishwa Subedi, a tourism expert from Bharatpur, attributed the rise in park visitors to the Chitwan Visit Year 2024, an initiative of the Bharatpur Metropolitan City to promote tourism.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Various religious and recreational events such as the Devghat Dham festival, jungle safari, and a marathon will be organised later this year,” said Subedi.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Diyalo Bungalow, the residence of the former royal family of Nepal where King Mahendra had passed away, was recently opened to the public. It has become a new tourism destination in Chitwan. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21421', 'image' => '20240731113820_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-07-31 11:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21693', 'article_category_id' => '1', 'title' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'sub_title' => '', 'summary' => 'China Reaffirms Support to Enhance Nepal’s Economic Progress', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 31: Chinese Ambassador to Nepal Chen Song has reiterated China’s strong support for Nepal’s socio-economic development. In a recent event organized by the China Media Group Asia Pacific and Sino Nepal Media Society in Kathmandu, Ambassador Chen emphasized China’s commitment to advancing Nepal’s economic progress.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ambassador Chen emphasized that the projects under China's Belt and Road Initiative (BRI) align with Nepal's interests. He also noted that the reform plans from the recent Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) are crucial for neighboring countries like Nepal. <br /> He expressed his confidence that the citizens of both countries would benefit hugely from the reform plans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Those reform plans would be useful in advancing network building that would connect Nepal and China across the Himalayas as well as in optimizing the capacity of Nepal's agriculture, industry, trade, digital technology, energy and tourism sectors thereby opening up opportunities of prosperity for Nepal," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On a different note, the Chinese envoy said that the Third Plenum of the 20th central committee of the CPC also conveyed the message of China's consistent reform bid and openness. According to him, the CPC was embarking on a new journey in a new era by resolutely batting on reforms and openness. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21420', 'image' => '20240731104023_20220708010938_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-07-31 10:39:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21694', 'article_category_id' => '1', 'title' => 'Secured Transactions Bill in House Committee for Clause-Wise Discussion', 'sub_title' => 'Finance Minister’s proposal to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the lower house', 'summary' => 'KATHMANDU, July 31: The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 31</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The House of Representatives has sent the Secured Transactions (First Amendment) Bill, 2081 to the relevant committee for clause-wise discussion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting of the lower house on Tuesday sent the bill, which originated in the upper house, to the committee.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The proposal by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel to send the bill to the relevant committee for clause-wise discussion was unanimously approved by the house.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The meeting also endorsed a proposal from Speaker Devaraj Ghimire to change the names of the members of the Parliamentary Investigation Special Committee, Monitoring and Evaluation of the Implementation of the Directive Principles, Policies and Obligations of the state Committee and various other thematic committees. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The next meeting of the House of Representatives has been scheduled for August 4. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21419', 'image' => '20240731111110_Parliament RSS 800.jpg', 'article_date' => '2024-07-31 11:10:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21692', 'article_category_id' => '1', 'title' => 'Milk Worth Over Rs 650 Million Consumed on Shrawan 15', 'sub_title' => '', 'summary' => 'On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">July 31: On Shrawan 15, also known as "Kheer Khane Din" or the day for eating rice pudding, approximately 9 million liters of milk, worth Rs 650 million, were consumed across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Nepal Dairy Association attributed the surge to the cultural tradition of preparing and eating kheer (rice pudding) on this particular day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">Every year, the government observes Shrawan 15 as Kheer Khane Din, encouraging people to enjoy this special dish.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif"">The Association also organized a kheer-eating program to promote consumption of milk and dairy products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""> The Association has been actively promoting dairy consumption due to the increasing stock of milk and dairy products, which has created challenges in paying farmers. </span></span></p> ', 'published' => true, 'created' => '2024-07-31', 'modified' => '2024-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '21418', 'image' => '20240731055955_collage (83).jpg', 'article_date' => '2024-07-31 05:58:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21691', 'article_category_id' => '1', 'title' => 'Tech X 2024 kicks off at Softwarica College', 'sub_title' => 'Tech enthusiasts will be able to observe the college students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4', 'summary' => 'A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, July 30</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A robotic dog and other interactive robots for serving food, helping people opening a bank account and filling out the Know Your Customer (KYC) forms, airport management, giving a museum tour and house assistance were up for display at the Tech X 2024.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A semi-autonomous vehicle to detect cigarette butts and a Lethal Autonomous Weapon System as well as an autonomous shopping companion, interactive AI counsellor for college students, VR car simulator and automated recycle bin were some of the prototypes in exhibition at the Tech X 2024, the fourth edition of the Softwarica College’s technology exhibition, which kicked off in Dillibazar, Kathmandu on Tuesday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Apart from these, the six-day event is also showcasing ransomware detection and prevention techniques, impact analysis of password cracking on cybersecurity, impact analysis of malicious application on cybersecurity and phishing and social engineering. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nikesh Bhandari, a BSc (Hons) Computing 4th semester student, was busy describing the prototype of the banking robot with Natural Language Processing (NLP) and facial recognition features to the visitors. It was made by the team of Bhattarai along with Sandesh Sapkota, Prajwal Pokharel and Prabin Tiwari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It provides personalised banking advice and plans using the Generative AI.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“Many people find it difficult to fill the KYC form,” said Bhandari. “Our prototype can scan the basic information from the Citizenship card and fill in the required information.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the visitors to the exhibition on Tuesday were students from various schools across Kathmandu and young tech enthusiasts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Adarsh Bajracharya and his team which include Sworup Timalsina, Aashrit Shrestha, Princy Agrawal and Suyogya Makaju made R.O.B.O, a robotic dog to help the visually impaired individuals with their household tasks. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Equipped with voice command recognition, it responds to user instructions and aids in navigating the home environment safely using obstacles avoidance sensors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“It can provide the visually impaired individuals with information such as the identities of visitors, their facial expressions, time, and reminder for taking medicines, besides helping them move within the house premises,” said Bajracharya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, a team of 10 students have made a prototype for a robot which can work as a tour guide in museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">It utilises computer vision designed to follow a path and navigation through the museum by giving information and insights about each tour exhibit along the way. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Aryan Budhathoki, one of the members of the team, said it was aimed at providing an interactive experience to people visiting the museums.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Tech enthusiasts will be able to observe the Softwarica College students’ innovation in more than 30 robotics, AI and cybersecurity projects until August 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The event also features the Robo Warrior League with more than 40 battle bots, also designed by the students. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Binod Shrestha, director at Softwarica College, said the event was an attempt to attract everybody’s attention towards the advancing technology sector and its impacts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“We aspire to educate people about the IT sector right from their early age as advancement in other sectors is impossible without advancement in this sector,” said Shrestha. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">With the free entry fee, the exhibition expects to attract more than 20,000 visitors this year.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21417', 'image' => '20240730065358_Softworica college_SunilSharma (39).jpg', 'article_date' => '2024-07-30 18:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21689', 'article_category_id' => '1', 'title' => 'Lack of Awareness Deters Sale of Foreign Employment Savings Bond', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: A significant portion of the general public remains unaware of the Foreign Employment Savings Bond, a government initiative launched nearly fifteen years ago. The scheme aims to invest income from remittances into the productive sector. Research conducted by Nepal Rastra Bank (NRB) has highlighted that the sale of these savings bonds is low due to a lack of awareness and the complexities involved in the purchasing process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the previous fiscal year (FY), the government set a target to sell Rs 1 billion worth of foreign employment savings bonds. However, such bonds worth only Rs 50.16 million were sold. While savings bonds were previously handled by the NRB, the Public Debt Management Office has been managing their sale since last year. The program began collecting loans through savings bonds in the fiscal year 2009/10.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NRB data, despite issuing bids for the sale of savings bonds worth Rs 15.56 billion through 25 schemes as of last fiscal year, only 4.9% (equivalent to Rs 76.23 million) were sold.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The research indicates that among those who did not purchase savings bonds, the majority (39.5%) were unaware of the scheme. Additionally, 27% found the purchasing process complicated, and 21% struggled with obtaining the necessary certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NRB's study involved an on-site survey of 385 Nepali citizens who had recently gone abroad for employment or returned less than six months ago. The research report suggests increasing the sale of savings bonds by enabling online purchasing, allowing online certificate issuance and interest payments, and keeping the funds open until sold. Furthermore, it recommends that, given the government's use of savings bonds to cover budget deficits, a system be established to issue foreign employment savings bonds to raise targeted financial resources for critical infrastructure projects in the coming year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21416', 'image' => '20240730031428_coins-gb31eda77f_1920.jpg', 'article_date' => '2024-07-30 15:12:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21688', 'article_category_id' => '1', 'title' => 'Government Dilly-Dallying Bill to Compensate Air Crash Victims', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BIJAY DAMASE</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The families of those who lost their lives in the Saurya Airlines crash on July 24 will not receive the same compensation as those affected by international flight accidents. Of the 19 people on board the flight, 18 died in the crash. Since Nepal does not apply the provisions of the Montreal Convention on Air Flight 1999 to domestic flights, the relatives of the deceased will not receive the same compensation as those who lose their lives in international flight accidents.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In August 2018, Nepal's Parliament approved the Montreal Convention, which stipulates compensation of at least 113,100 Special Drawing Rights (SDRs) — approximately $149,951 or Rs 20,133,920 — from the insurance company for international flights. However, Nepal applies the older Warsaw Convention 1929 to domestic flights. According to this provision, in the event of a domestic flight accident, the passengers’ families receive at least $20,000 (Rs 2,625,400) per person from the insurance company in case of loss of life. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Deepak Kumar Pokharel, chairman of Saurya Airlines, stated that all insurance processes for the families of the deceased have been handled based on the current system. He also emphasized that the airline is committed to providing all necessary facilities as per the rules of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">After the Montreal Convention was passed, efforts to apply its provisions to domestic flights were stalled due to intense pressure from domestic airline operators. They argue that implementing these provisions would increase compensation amounts and insurance premiums, making it difficult for them to cover these costs. Anil Manandhar, spokesperson for Shree Airlines, noted that if the premiums are paid solely by the airlines, the burden will fall on passengers, potentially increasing operating expenses and affecting service affordability. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In February 2023, the Cabinet approved a draft bill to increase the compensation amount to $100,000 for domestic flight accidents. The draft bill includes provisions for the airline companies to cover all expenses related to repatriating the deceased and handling funeral arrangements, with no limits set on the airline's liability.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Despite the bill being drafted by the Ministry of Culture, Tourism, and Civil Aviation, it has yet to be submitted to Parliament. Nepali Congress MP Sanjay Gautam criticized the government's lack of action, emphasizing the need for fair compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Culture, Tourism, and Civil Aviation Minister Badri Prasad Pandey stated that the families of those who lost their lives in the Saurya Airlines crash will receive compensation according to the insurance policy purchased by the airline. Saurya's insurance is with Prabhu Insurance, and the amount will be paid according to the contract with the company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The draft bill, initially overseen by Buddhisagar Lamichhane, joint secretary of the Ministry of Tourism, has faced delays following his suspension on May 7. Lamichhane is implicated in a corruption case related to widebody aircraft procurement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ganesh Prasad Pandey, secretary of the Ministry of Tourism, confirmed that work is ongoing to finalize the draft bill and submit it to Parliament soon.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Proposed Arrangements</strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Families of passengers who lose their lives in domestic flight accidents will receive $100,000 in compensation.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline will be responsible for repatriating the deceased and covering all related expenses.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline operating organization cannot set liability limits lower than the amount specified by law.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The airline company will not be obliged to pay compensation in cases where death or disfigurement is due to a pre-existing serious illness.</span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> The compensation amount will be reviewed by the Government of Nepal every ten years.</span></span></li> </ul> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Current Arrangement</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal is currently implementing the provisions of the Warsaw Convention 1929 for domestic flights. Under this convention, if a passenger dies in a domestic flight accident, the next of kin will receive $20,000 in compensation from the insurance company. Claims for injuries during the flight can be made through the insurance company affiliated to the airline, with decisions on compensation being made within 60 days of claim submission.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21415', 'image' => '20240730031215_20220630032136_airraft.jpg', 'article_date' => '2024-07-30 15:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21690', 'article_category_id' => '1', 'title' => 'NEPSE Gains 35.55 Points to Close at 2696.65', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 30: The Nepal Stock Exchange (NEPSE) experienced a gain of 35.55 points, or 1.33%, closing at 2696.65. This increase followed a correction of 20.46 points on the previous trading day, marking a positive shift on the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Market experts and seasoned investors attributed this rise to positive investor sentiment, driven by the monetary policy issued by the Nepal Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today's trading session, 329 scrips were traded through 206,643 transactions. A total of 40,371,778 units of shares changed hands, resulting in a turnover of Rs 17.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalayan Reinsurance Company (HRL) led in turnover, with transactions totaling Rs 60 crores. Progressive Finance Limited (PROFL), Barun Hydropower Limited (BARUN), Sanjen Jalavidhyut Company Limited (SANJE), and Nepal Warehousing Company Limited (NWCL) all gained 10%, reaching their daily upper circuit limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Asian Hydropower Limited (AHL) recorded the largest loss, falling 10% to close at Rs 792 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sensitive Index rose by 0.67%, while the Float Index and Sensitive Float Index increased by 1.17% and 0.76%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sectors closed in positive territory, except for the Banking Sector, Mutual Fund, Non-Life Insurance, and Trading Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hotels and Tourism Index saw the highest gain of 5.99%, while Banking Index incurred the maximum loss of 0.76%. </span></span></p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21414', 'image' => '20240730032856_collage (82).jpg', 'article_date' => '2024-07-30 15:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21687', 'article_category_id' => '1', 'title' => 'Prices of Gold and Silver Fall in Domestic Market', 'sub_title' => 'The precious yellow metal became cheaper by Rs 100 per tola on Tuesday', 'summary' => 'KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, July 30: The price of gold decreased by Rs 100 per tola (11.66 grams) in the domestic market on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold, which was traded at Rs 146,100 per tola on Monday, is being traded at Rs 146,000 per tola on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the price of worked gold has declined to Rs 145,300 per tola from Rs 145,400 on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also fallen in the domestic market of Nepal by Rs 10 per tola. Silver is currently being traded at Rs 1,740 per tola, down from Rs 1,750 per tola the previous day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21413', 'image' => '20240730031121_cd5483b7.jpeg', 'article_date' => '2024-07-30 15:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21686', 'article_category_id' => '1', 'title' => 'NRB Reluctant to Regulate Cooperatives', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Despite growing problems in cooperatives that handle large transactions similar to commercial banks, Nepal Rastra Bank (NRB) has indicated that it will not assume direct responsibility for their regulation and supervision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, the Federal Parliament amended both the NRB Act, 2058, and the Cooperatives Act, 2074, bringing cooperatives engaged in savings and loans of a certain size under NRB's regulatory scope. This amendment empowered NRB to issue instructions and standards for the regulation, inspection, and supervision of these cooperatives, specifically those with a share capital exceeding Rs 500 million or an annual turnover above a specified threshold. It also allowed NRB to take action in accordance with the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, despite the amendment, NRB has not yet issued standards or taken responsibility for regulating and supervising cooperatives. The monetary policy for the current fiscal year 2024/25 merely announces that the government will facilitate the creation of a separate agency to handle cooperatives and will work to return savings of up to Rs 500,000 to the depositors of troubled organizations, as mentioned in the current fiscal year’s budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even though NRB is not directly responsible for monitoring cooperatives, it has been noted that issues within cooperatives impact the broader economy, especially concerning monetary policy. Resolving these issues could boost economic activity and improve loan recovery for banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s budget has promised to create a separate mechanism for regulating and supervising savings and credit cooperatives and to arrange for the return of up to Rs 500,000 of savings to the members of troubled cooperatives through property mortgage of the operators. NRB has pledged to support these arrangements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the Cooperatives Act, 2074, allowed NRB to monitor cooperatives with an annual turnover exceeding Rs 500 million. However, NRB has largely ignored this sector due to the lack of a corresponding provision in the NRB Act.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the law's amendment, NRB was expected to assume responsibility for setting standards and monitoring cooperatives but has neglected to do so. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of NRB, Guru Prasad Paudel, stated that internal preparations are underway to develop standards and guidelines according to the law, even though the monetary policy has not yet included this aspect. He mentioned that the NRB would only monitor based on recommendations from the Department of Cooperatives, and would act on those recommendations if needed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In February, NRB sent three officials to the department to monitor cooperatives, but they returned in May without any significant achievement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Cooperatives Act, 2048, savings and credit cooperatives must obtain permission from NRB to conduct banking transactions. Despite this, 43 cooperatives had obtained permission but did not engage in banking transactions. NRB opted to revoke licenses of 14 cooperatives after the enactment of the Cooperatives Act, 2074, withdrawing from direct monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank officials express concerns that taking quick responsibility of cooperatives might risk discrediting NRB as the cooperatives are struggling with corporate good governance issues. One official noted that the protests at the Department of Cooperatives might shift to the NRB head office in Baluwatar, suggesting NRB should avoid hasty action.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudarshan Dhakal, former registrar of the Department of Cooperatives and a cooperative expert, argues that NRB cannot evade its responsibility for managing financial transactions of cooperatives. He points out that many countries have central banks regulating savings and credit cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Cooperative activists are lobbying for NRB’s involvement as a secondary regulator.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, cooperatives are monitored by the Department of Cooperatives at the federal, state, and local levels. However, after the transfer of regulatory authority to provincial and local levels, weak regulations have led to increased cases of misappropriation, directors becoming unresponsive, and members struggling to recover their savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To address these issues, a recommendation working group led by Dr. Jayakant Raut, a member of the National Planning Commission, has suggested that NRB should monitor cooperatives engaged in large transactions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Instructions to Contact Over a Dozen Operators of Cooperatives</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the parliamentary special committee investigating the misappropriation of cooperatives’ savings has directed the Ministry of Home Affairs to locate 18 individuals who have been out of contact after engaging in savings misappropriation, embezzlement, and fraud.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman Surya Thapa reported that these 18 individuals, who absconded after the misappropriation of members' savings, have been instructed to come in contact with the committee. The committee's directive includes contacting GB Rai, Gyan Bahadur Bomjan, Than Bahadur Budhamagar, and Bhupendra Rai of Suryadarshan Cooperative in Pokhara; Bharat Maharjan, Rajmaya Maharjan, Sachin Maharjan, and Sarla Maharjan of Sumeru Cooperative; Tej Bahadur Bamjan and Lilanath Gautam of Shivashikhar Cooperative; Devkumar Nepali, Dipak Paudel, and Cheda Nepali of Image Cooperative; Tasvir Khatun and Ashraf Ali of Sano Paila Cooperative; Sahara Chitwan's Subas KC; Meda Dream Multi-Purpose’s Mahashankar Regmi; and Kantipur’s Premdhwaj Lama.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21412', 'image' => '20240730024458_NRB new building.jpg', 'article_date' => '2024-07-30 14:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21685', 'article_category_id' => '1', 'title' => 'Torrential Downpour Likely in Next Two Days', 'sub_title' => '', 'summary' => 'KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU, July 30: There is a possibility of heavy to extremely heavy rainfall in various parts of the country over the next two days, according to the Weather Forecasting Division.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The division has advised everyone to remain alert, especially during the night, when extremely heavy rainfall is expected. Meteorologist Sanjeev Adhikari mentioned that while rainfall is likely at night, incessant rainfall is not expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhikari further stated that heavy to extremely heavy rainfall is expected in a few places in Koshi, Bagmati, Gandaki, Lumbini, and Sudurpaschim provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cloudy weather is predicted for Tuesday afternoon across the country, with light to moderate rain and thunder and lightning in some areas of all provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Tuesday night, heavy to extremely heavy rainfall is likely in a few places in Bagmati, Madhes, Gandaki, and Lumbini provinces, as well as in one or two places in the remaining provinces.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On Wednesday, the weather throughout the country will remain cloudy. Light to moderate rainfall with thunder and lightning is expected in a few places in Madhes Province and some areas in the remaining provinces in the afternoon.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, light to moderate rainfall with thunder and lightning is predicted in a few places in Madhes, Karnali, and Sudurpaschim provinces, with heavy rainfall expected in one or two places in Koshi, Gandaki, and Lumbini provinces during Wednesday night. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-30', 'modified' => '2024-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '21411', 'image' => '20240730014517_20230904111644_rain (1).jpeg', 'article_date' => '2024-07-30 13:44:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
