The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week,…
The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week,…
February 8: The Organisation for Economic Cooperation and Development (OECD) has raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer…
February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline.…
February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to…
February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas…
February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting…
he meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money…
February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low…
February 7: From now on, the law will consider those who take up the responsibility for any development project and delay the work as…
February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the…
February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer.…
February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west…
February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his…
February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the…
February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half…
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As many as 9,171,710 shares changed hands, resulting in a total turnover amount of Rs 3.21 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover amount with transactions of Rs 18 crores, closing at a market price of 689 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha (SAMAJ) gained 10% and hit the positive circuit for the day. Conversely, Siddhartha Growth Scheme 3 (SIGS3) lost the highest percentage, 9.97%, closing at a market price of Rs 8.49.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, nine sectors closed in the green territory, while the remaining landed in the red zone.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Hydropower Index saw the highest gain at 1.44%, while the Investment Index gained the least at 0.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, the Mutual Fund Index lost the highest percentage, 1%, while the Banking Index witnessed the lowest loss of 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19932', 'image' => '20240208034831_collage (6).jpg', 'article_date' => '2024-02-08 15:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20204', 'article_category_id' => '1', 'title' => 'Middle East Conflict Poses Risk of Consumer Prices Hike: OECD', 'sub_title' => '', 'summary' => 'February 8: The Organisation for Economic Cooperation and Development (OECD) has raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The Organisation for Economic Cooperation and Development </span><span style="font-family:"Arial Unicode MS","sans-serif"">(</span><span style="font-size:14.0pt">OECD</span><span style="font-family:"Arial Unicode MS","sans-serif"">) has </span><span style="font-size:14.0pt">raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to a news report published by AFP, the OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the United States, the world's top economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But despite the positive outlook, global trade remains subdued, according to OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated, with strong growth in the United States and emerging markets offsetting slowdowns in European nations. But indicators suggest "some moderation" of growth, with higher interest rates affecting the credit and housing markets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"> While inflation is falling in major economies, "it is too soon to be sure that underlying price pressures are fully contained", the OECD added in an update to its annual economic outlook.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The OECD highlighted the threats from the war between Israel and Hamas in Gaza, and the attacks on ships in the Red Sea by Yemeni rebels who say they were targeting Israel-linked ships in solidarity with the Palestinians. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US and UK forces have responded with strikes against the Huthi rebels, who have since declared American and British interests to be legitimate targets as well.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"High geopolitical tensions are a significant near-term risk to activity and inflation, particularly if the conflict in the Middle East were to disrupt energy markets," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"A widening or escalation of the conflict could disrupt shipping more extensively than presently expected, intensify supply bottlenecks, and push up energy prices if traffic is interrupted in the key routes for the transport of oil and gas from the Middle East to Asia, Europe and the Americas."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Around 15 percent of global maritime trade volume passed through the Red Sea in 2022, according to the OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The attacks have sharply raised shipping costs and lengthened delivery times of goods as companies have rerouted their vessels around the southern tip of Africa, increasing their journey by as much as 50 percent, it said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Production schedules have been disrupted in Europe, notably for automakers, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The attacks on ships on the Red sea are having an impact on trade. Freight rates have more than doubled since the end of last year," OECD chief economist Clare Lombardelli said at a news conference.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The increase in shipping costs, if persistent, could add 0.4 percentage points to consumer prices inflation after about a year, the OECD warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">According to AFP, </span></strong><span style="font-size:14.0pt">the organisation said monetary policy needs to "remain prudent" to ensure that inflationary pressure is "durably contained".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US Federal Reserve, the European Central Bank and the Bank of England raised interest rates sharply in efforts to rein in consumer prices that rose after the Covid pandemic and jumped further after Russia's invasion of Ukraine.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Growth could also be weaker than projected if the lingering effects from past policy rate increases are stronger than expected," the OECD said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The three central banks have recently paused their rate-hike campaigns and have kept them at high levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But markets are hopeful that policymakers will soon begin to cut rates as inflation has slowed in major economies, though it remains above two-percent targets. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19931', 'image' => '20240208033953_inflationnnnnn.jpg', 'article_date' => '2024-02-08 15:39:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20202', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits of Banks Declining', 'sub_title' => '', 'summary' => 'February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. After the banks reduced interest on fixed deposits, the portion of general savings have increased, while that of fixed deposits have started decline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, the banks had increased interest rates due to liquidity crisis. Due to this, the share of fixed deposits in the banks increased. However, Nepal Rastra Bank has said that the portion of fixed deposits has started to decline after the reduction in interest rates after liquidity situation eased in the current fiscal year (FY).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB, 60.3 percent of the total deposits with banks and financial institutions by mid-January last year were fixed deposits. But by mid-January this year, the share of fixed deposits has decreased to 59.9 percent. While fixed deposits have decreased, ordinary savings have increased. The share of ordinary savings increased from 25.6 percent in the previous year to 26.8 percent in the current year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, banks offered higher interest rates to increase term deposits. In order to attract deposits, they also introduced a plan to give up to 10 times the initial deposit in 21 years. Since the beginning of the current year, banks have started reducing interest rates, so the share of fixed deposits has also started to decrease. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As of mid-January of the current fiscal year, banks and financial institutions have collected Rs 6130 billion in deposits and provided loans of Rs 5083 billion. During this period, deposits increased by 6.6 percent, while loans expanded by only 4 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the liquidity crisis eased, the Nepal Bankers Association decided to end the practice of determining interest through consensus since the beginning of the current fiscal year. This allowed the banks to fix the interest rate individually in the competitive market. As a result, the maximum interest rate of the commercial banks fell below 8 percent in mid-January.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of the NRB, banks are allowed to provide a maximum interest rate of 5 percentage points more on fixed deposits than the minimum interest rate on ordinary savings. There is a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, other than call deposits, cannot differ by more than five percentage points. Similarly, there is a provision that banks can give an additional 1 percent more interest on remittance compared to the normal deposits.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19929', 'image' => '20240208022611_Banks - Copy.jpg', 'article_date' => '2024-02-08 14:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20201', 'article_category_id' => '1', 'title' => 'Govt Preparing to Release Startup Enterprise Loan by Upcoming April-May', 'sub_title' => '', 'summary' => 'February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government had recently called eligible companies to submit applications for the startup enterprise loans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three government agencies signed a memorandum of understanding on Wednesday to facilitate start-up loans. Following the agreement, the Industrial Enterprise Development Institute is preparing to begin disbursing loans for start-ups from upcoming April-May.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Industrial Enterprise Development Institute, Rastriya Banijya Bank and the Deposit and Credit Guarantee Fund signed the tripartite MoU for releasing the start-up enterprise loan by keeping the project as collateral.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Umesh Kumar Gupta, executive director of the institute, said the MoU has paved the way for disbursing the loans from April. He claimed that this program will be implemented in the current fiscal year if things go according to the plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government introduced the Startup Enterprise Loan Operation Procedure 2080 on January 25. After the implementation of the procedure, the institute issued a 21-day notice seeking proposals for the startup enterprises loans on February 2.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The government has been taking initiative to address the issue of youth migration by creating jobs in Nepal," said Gupta, "Since the government has already allocated the required budget, it is now possible to get loans for start-up enterprises from the current fiscal year."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, the start-ups will get the loans after a certain steps. In the first step, the start-ups have to submit a proposal to the institute. Secondly, a list of applicants will be prepared according to the proposal. Applicants will then be called for a presentation of their startup venture. An evaluation committee will evaluate their presentation. The committee will have representatives from the institute and experts in the related field. The presentation of selected startups will be 15 minutes. The committee will give marks based on the presentation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the third stage, the institute will rate the projects and then recommend to the Rastriya Banijya Bank to provide loan. The state-owned bank will provide loans to the startup enterprises if they meet the required score for credit rating.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has adopted a policy of providing a maximum loan of Rs 2.5 million to start-up enterprises at a subsidized interest rate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the new procedure, the bank will provide funds in one installment for loans up to Rs 0.5 million, 2 installments for loans up to Rs 1.5 million, and up to 3 installments for loans up to Rs 2.5 million. According to this procedure, a startup will get a concessional loan up to a maximum of Rs 2.5 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new procedure approved by the government has designated 16 sectors and enterprises eligible for the start-up enterprise loans provided that the enterprise should not have been registered more than seven years ago. The loan will be provided in the areas specified by the procedure and the loan period will be 5 years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the procedure, there is a provision that borrowers should start paying the principal and interest from the second year. The interest rate of such a loan will be 3 percent per annum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has allocated Rs 250 million for this program in the current fiscal year as well. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19928', 'image' => '20240208011240_startup.jpg', 'article_date' => '2024-02-08 13:11:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20200', 'article_category_id' => '1', 'title' => 'UN Chief says World in 'Age of Chaos' ', 'sub_title' => '', 'summary' => 'February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the war in Gaza entering its fifth month on Wednesday, Guterres warned that if the Israeli armed forces press on into the southern city of Rafah, it will "exponentially increase what is already a humanitarian nightmare with untold regional consequences." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli forces, in their campaign to destroy Hamas after its unprecedented attack on October 7, have relentlessly bombed the Gaza Strip and carried out a ground invasion, displacing over a million people southward. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"It is time for an immediate humanitarian ceasefire and the unconditional release of all hostages," Guterres said during a speech to the General Assembly presenting his 2024 priorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the speech, he called for changes to the Security Council and international financial system, among other reforms, touting his "Summit of the Future" in September as a critical venue to address dysfunction "deeper and more dangerous" than ever. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The United Nations Security Council -- the primary platform for questions of global peace -- is deadlocked by geopolitical fissures," said Guterres, a former Portuguese prime minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"This is not the first time the Council has been divided -- but it is the worst. Today's dysfunction is deeper and more dangerous." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that unlike during the Cold War, when "well-established mechanisms helped manage superpower relations," those mechanism are missing "in today's multipolar world." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Our world is entering in an age of chaos..., a dangerous and unpredictable free-for-all with total impunity," he warned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">His remarks come amid devastating conflicts in Ukraine, Sudan, the Middle East and elsewhere, with millions of people displaced by the fighting and in need of assistance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As conflicts proliferate, global humanitarian needs are at an all-time high, but funding is not keeping pace," Guterres said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against such a dark backdrop, Guterres encouraged world leaders to seize the opportunity of the "Summit of the Future," to be held in September in New York on the sidelines of the annual General Assembly to "shape multilateralism for years to come." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the heels of the Covid-19 pandemic, he called again for the development of an "emergency platform to improve the international response to complex global shocks." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Guterres, who has made addressing climate change a priority since taking office in 2017, reiterated that the crisis "remains the defining challenge of our time" and called for humanity to "make peace with the planet." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said "humanity has waged a war we can only lose: our war with nature. It is a crazy fight to pick." --- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19927', 'image' => '20240208121937_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-02-08 12:19:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20197', 'article_category_id' => '1', 'title' => 'IFRC, WWF Call for Global Action to Protect Nature, address Climate Crisis ', 'sub_title' => '', 'summary' => 'February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IFRC and WWF in Nepal informed that they were launching a strategic partnership with the theme “Working with Nature to Protect People.” This joint initiative aims to recognize the critical role of nature-based solutions in both mitigating and adapting to climate change while fostering resilience among communities on the front lines of the crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nature-based solutions, such as forest restoration, water source management, wetland rehabilitation, and river-bank plantations, have proven effective in Nepal, offering benefits beyond disaster risk reduction, they reminded, adding, “We reiterate that tackling climate crises requires protecting wildlife and biodiversity at an ecosystem scale, which is vital to create a future in which people and nature thrive together." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The collaboration between IFRC and WWF Nepal is an opportunity to make a difference at scale, and we call on partners to support our joint efforts,” remarked Country Representative of WWF Nepal, Dr. Ghana Shyam Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The partnership between IFRC and WWF will be leveraging their combined expertise and extensive networks to address the ongoing climate crisis, emerging risks, and societal challenges. Through local action and collaboration with government, partners, development agencies, donors, and private sectors, IFRC and WWF aim to integrate nature into climate adaptation strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This also includes engagement with authorities at all levels to provide policy advice and coordinate the initiatives as part of wider humanitarian and development efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Head of Delegation at IFRC, Azmat Ulla, observed, "Tackling climate crises requires protecting diversity and wildlife, and this is vital towards sustaining future generations. The IFRC and WWF collaboration is a great opportunity to make a difference and we call on partners to support.” – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19924', 'image' => '20240208105941_wwf.jpg', 'article_date' => '2024-02-08 10:58:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20196', 'article_category_id' => '1', 'title' => 'House of Representatives Unanimously Approves Bill on Anti-Money Laundering', 'sub_title' => '', 'summary' => 'he meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 8: The meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Dhanraj Gurung, had presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The endorsement has opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS .</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Criminal Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS will also undergo amendment with bill’s endorsement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the Bill.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">HoR will meet again on February 18 at 11:00 am. Speaker Devraj Ghimire informed that the parliamentarians could hold live question and answer session with the Prime Minister in the next meeting. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19923', 'image' => '20240208062053_collage (27).jpg', 'article_date' => '2024-02-08 06:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20195', 'article_category_id' => '1', 'title' => 'SC Invalidates Land Swap of Giribandhu Tea Estate ', 'sub_title' => '', 'summary' => 'February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A constitutional bench comprising Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Prakashman Singh Raut, Sapana Pradhan Malla and Sushma Lata Mathema found that the land swap was against constitutional provision and illogical, thereby being subject to cancellation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the government had amended the law to allow the tea estate to swap the land but the SC concluded that the swap deal was beyond limitation and annulled it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Government of Nepal (through cabinet decision) had given permission to the Giribandhu Tea Estate Pvt to exchange 343-19-12 bighas of land on April 26, 2021, which is against Section 12 (c) of Land Act, 2021. So, the decision is subject to cancellation with certiorari," the SC order mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19922', 'image' => '20240207115411_Supreme Court.jpg', 'article_date' => '2024-02-07 23:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20193', 'article_category_id' => '1', 'title' => 'New Bill Proposes Criminalizing Contractors for Dilly-Dallying Construction Projects', 'sub_title' => '', 'summary' => 'February 7: From now on, the law will consider those who take up the responsibility for any development project and delay the work as criminals.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: From now on, the law will soon consider those who take up the responsibility for any development project and delay the work as criminals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A parliamentary committee has passed the Monitoring and Evaluation Bill introduced by the government to regulate the contractors at a time when the development work in the country is taking place at a snail’s pace.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill proposes criminalizing the employees and contractors who engage in fraudulent activities in construction projects. Those who are found involved in misappropriation will be punished according to the criminal law once the bill is passed by the parliament.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government had introduced the bill four years ago to make the monitoring and evaluation of the country's development works and plans more effective. The State Order and Good Governance Committee meeting held at Singh Durbar on Tuesday passed the bill recommending strict provisions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We have unanimously passed the bill which originated in the National Assembly to regulate monitoring and evaluation," Committee Chairman Ramhari Khatiwada said in a conversation with New Business Age, adding, “Now we can tame anyone including project chiefs, contractors, office chiefs, government or minister involved in dilly-dallying development works.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Khatiwada, fraudulent ativities has been considered a crime in the bill. The committee has passed the bill with the provision that the government agency can initiate action under the criminal code. According to Khatiwada, this bill will be presented in the upcoming session of parliament. So far, the state does not consider the delay in development and construction works as a crime.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the bill passed by the committee with amendments, there is a provision to monitor and evaluate the projects every six months. The bill has provision for regular monitoring and evaluation of the schemes run by all three levels of government. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Office of the Prime Minister and Council of Ministers and the National Planning Commission are considered as the highest bodies for monitoring and evaluation at all three levels. According to the provisions of the Bill, the National Planning Commission shall approve the periodical plans, master plans, annual plans, projects of national pride, national priority projects, transformative projects, important projects designated by the Government of Nepal, projects operated with foreign aid and projects operated with grants provided to the provinces and local levels and monitor and evaluate them in accordance with the prevailing laws.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill states that the monitoring and evaluation report of the province should be made available if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill stipulates that rural municipalities and municipalities should regularly monitor and evaluate plans implemented at the local level. There is also a provision that the local level report should be provided if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill was introduced by the government four years ago but it could not move forward due to various reasons. This bill, which will be presented in the upcoming session of parliament, will go into the implementation stage after it is passed by the House of Representatives.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19920', 'image' => '20240207023004_Parliament.jpg', 'article_date' => '2024-02-07 14:29:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20192', 'article_category_id' => '1', 'title' => 'NRB’s Half-Yearly Review Depicts Positive Indicators of Economy', 'sub_title' => '', 'summary' => 'February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank's assessment, based on the six months' data ending in mid-January, there is an improvement in overall economic and financial indicators. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Remittance inflows increased by 25.3 percent to reach Rs 733.22 billion in the review period, compared to a 24.3 percent increase in the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 207,970 and taking approval for renew entry stood at 135,435. In the previous year, such numbers were 275,643 and 142,548 respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The net transfer increased 24 percent to Rs 799.51 billion in the review period. Such a transfer had increased 22.7 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Balance of Payments (BOP) remained at a surplus of Rs 273.52 billion in the review period against a surplus of Rs 92.15 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gross foreign exchange reserves increased by 18.0 percent to Rs 1816.57 billion in mid-January 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deposits of banks and financial institutions rose by 6.6 percent and private sector credit increased 4 percent. On y-o-y basis, deposits increased 14.9 percent and private sector credit increased 4.9 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation moderated to 5.26 percent in mid-January 2024 compared to 7.26 percent a year ago. Food and beverage category inflation stood at 5.77 percent whereas non-food and service category inflation stood at 4.85 percent in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report state that the y-o-y price index of ghee and oil, vegetables, meat and fish and transportation sub-categories exhibited a downward trend in mid-January 2024. Additionally, price index of spices and sugar and sugar products also moderated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the review month, the y-o-y import price index, salary and wage rate index and the wholesale price index also moderated. These factors contributed to a moderated consumer price inflation </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Food and Beverage Category, y-o-y price index of ghee and oil, vegetable and meat and fish sub-category decreased by 13.07 percent, 1.04 percent and 0.06 percent respectively in the review month. The y-o-y price index of spices sub-category increased by 35.60 percent, cereal grains and their products 11.38 percent, pulses and legumes 11.14 percent, milk products and eggs 10.29 percent and fruit 10.15 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Non-Food and Services Category, y-o-y price index of transportation sub-category decreased by 1.62 percent in the review month. The y-o-y price index of recreation and culture subcategory increased by 12.84 percent, miscellaneous goods and services 9.73 percent, education 8.92 percent, furnishing and household equipment 5.18 percent and clothes and footwear 4.96 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain region stood at 5.76 percent, 4.78 percent, 5.40 percent and 6.57 percent respectively in the review month. Such inflation in these regions was 6.93 percent, 7.49 percent, 7.30 percent and 6.69 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y wholesale price inflation stood at 3.36 percent in mid-January 2024 compared to 9.82 percent a year ago. The y-o-y wholesale price index of consumption goods, intermediate goods and capital goods increased 6.16 percent, 1.99 percent and 2.71 percent respectively. The y-o-y wholesale price index of construction material decreased 1.08 percent in the review month. The y-o-y salary and wage rate index increased 5.56 percent in mid-January 2024 compared to 10.27 percent a year ago. The y-o-y salary index and wage rate index increased 1.05 and 6.92 percent respectively in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Imports fell by 3.1 percent, exports by 7.2 percent and trade deficit by 2.6 percent. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19919', 'image' => '20240207014952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-07 13:49:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20191', 'article_category_id' => '1', 'title' => 'No Party Interested in Buying China-made Aircraft of NAC', 'sub_title' => '', 'summary' => 'February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. The state-owned NAC called for tender bids again on Tuesday for the sale of its Chinese airplanes which have been grounded since last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year too, the NAC had sought proposals for leasing the Chinese aircraft. After failing to find any company interested to lease the aircraft, the NAC started the process to sell those aircraft. The NAC had to call for tender bids for the second time after no one showed interest in buying the aircraft in the first tender call.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NAC Spokesperson Ramesh Paudel informed New Business Age that the tender was issued again after they did not receive any proposal within the specified period. Applicants interested in purchasing the grounded Chinese aircraft need to submit proposals to the NAC by February <span style="font-family:"Arial Unicode MS","sans-serif"">21.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal welcomed the first lot of Chinese aircraft about ten years ago in April/May 2014<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>The government received two Chinese aircraft with a grant from China and purchased four of them with a loan. The NAC received MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft each under the grant of the Chinese government. Another MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and three Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft were purchased on loan at subsidized interest rate. The government purchased the aircraft under an agreement to repay the loan within <span style="font-family:"Arial Unicode MS","sans-serif"">20</span> years including a grace period of seven years. The government spent more than Rs <span style="font-family:"Arial Unicode MS","sans-serif"">4</span> billion in several installments for the purchase of these aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Culture, Tourism and Civil Aviation Sudan Kirati revealed during a recent event that the government has to pay Rs <span style="font-family:"Arial Unicode MS","sans-serif"">200</span> million a year for insurance and parking fee for those grounded aircraft. "It is not possible to find out how and why the Chinese aircraft were purchased," he said, adding, “How much more debt shall we pay?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC had to start paying installments of the loan from October/November <span style="font-family:"Arial Unicode MS","sans-serif"">20</span>21. One year later, the NAC started the evaluation process of the aircraft in November/December <span style="font-family:"Arial Unicode MS","sans-serif"">2022</span> for the sale of the aircraft. At that time, the Ministry of Finance had given the option of either selling or renting the aircraft. However, no one was interested in hiring those aircraft. No one is either interested in purchasing the aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the NAC also issued international tender bids on Tuesday to take two narrow-body aircraft on wet lease under which the aircraft, crew, maintenance and insurance (ACMI) will be managed by the interested party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC, which has been providing air services with two wide-body and two narrow-body aircraft, has invited tender bids to take two more narrow-body aircraft on wet lease. According to the press statement issued by the NAC on Tuesday, the flag-carrier of Nepal started the process for acquiring more aircraft because it has not been able to meet the demand for flights with its existing narrow-body aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the NAC, currently two wide-body aircraft are being used for flights to Japan, Sydney and Korea. "In other sectors, two narrow-body aircraft have not been able to handle the demand of flight pressure," the statement reads, adding, "There is a plan to increase the income by adding flights to New Delhi, Dubai, Doha, Malaysia and other sectors and also to other destinations from Bhairahawa."</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19918', 'image' => '20240207013823_20210401035949_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2024-02-07 13:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20190', 'article_category_id' => '1', 'title' => ' Upgrading Runway of Meghauli Airport Begins', 'sub_title' => '', 'summary' => 'February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan. After upgrading, the runway will be 700 meters long and 20 meters wide. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Meghauli Airport project Chandramani Sapkota shared that the grass-field runway is being upgraded to high-level graveled runway. The upgrading work of the runway is expected to cost of around Rs 12 million. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has been using the air strip for training soldiers for para-jumping. Likewise, hotels in Meghauli charter aircraft and helicopters to bring in their guests. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airport remains closed for regular flights since 2067 BS after the government adopted a policy not to operate hotels inside Chitwan National Park. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Meghauli Airport is spread over 23 bigahas of land is 24 km south from Bharatpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19917', 'image' => '20240207010555_20220905115923_meghauli.jpg', 'article_date' => '2024-02-07 13:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20189', 'article_category_id' => '1', 'title' => 'Colourful Cauliflowers Draw Huge Crowd in Lahan ', 'sub_title' => '', 'summary' => 'February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shah has produced cauliflowers of purple and yellow colours. Shah said he first saw such colourful cauliflowers when he was in foreign employment seven years ago. After returning home, he brought such cauliflower seeds from neighbour India and planted them in his field. The seeds are five times costlier than normal cauliflower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is now planning to expand his colourful cauliflower farms, after getting good response from the market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Because of its different color and taste, it is sold as soon as it reaches the market," said Shah, who is thinking of increasing the production in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Just on Monday, Shah said he sold 16 kgs of colourful cauliflowers at the rate of Rs 200 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, large number of people have been visiting his farm to see the rare cauliflowers. "Since there was widespread talk about this cauliflower everywhere, I came to see what it is really like. I am amazed to see it,” said Kusheshwar Yadav, a local head master. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19916', 'image' => '20240207120636_cauli-purp - Copy (2).jpg', 'article_date' => '2024-02-07 12:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20188', 'article_category_id' => '1', 'title' => 'Karnali Government Preparing for Intra-Province Air Service ', 'sub_title' => '', 'summary' => 'February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The province government is working with air service operators including the state-owned Nepal Airlines Corporation to operate domestic flights from Surkhet Airport in the provincial capital Birendranagar to the airports in the mountainous districts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accordingly, the NAC is collaborating with the provincial government to expand domestic air services from Surkhet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this regard, Chief Minister Rajkumar Sharma; NAC coordinator in Surkhet, Mahesh Kumar Marita; manager of the Engineering Department of NAC, Devendra Pun; and chief of Surkhet Civil Aviation Office, Rajan Dhungel made an onsite-inspection of the airport on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Minister Sharma said that the government will extend support for physical infrastructure and other requirements for the domestic flights. The provincial government is adding internal flights to facilitate the residents of Karnali Province, he said while adding that the provincial government has kept the improvement of Surkhet Airport as a top priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, NAC Coordinator Marita said that the service will be operated as soon as possible in consideration of the request made by the provincial government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19915', 'image' => '20240207111424_DB_Simkot-IMG-20240206.JPG - Copy.jpg', 'article_date' => '2024-02-07 11:13:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20187', 'article_category_id' => '1', 'title' => 'Hetauda Cement Industry Resumes Production', 'sub_title' => '', 'summary' => 'February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months. The industry had stopped production due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Naveen Kumar Karna, deputy general manager of the industry, said that it was difficult to purchase coal due to the financial crisis faced by the industry. He added that the industry started production after purchasing 1,800 metric tons of coal recently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry requires 100 metric tons of coal every day. Meanwhile, General Manager of the Industry, Basanta Raj Pandey, said that the industry will not be closed in the near future as there will be regular supply of coal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry having the capacity to produce 18,000 sacks of cement per day can now produce only 10,000 sacks due to the worn-out machines. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The cement industry has been producing cement commercially since 2043 BS. Currently, 150 people are directly employed by the industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">General Manager Pandey said negotiations are going on with the Ministry of Industry, Commerce and Supplies to install new equipment and provide subsidies for the purchase of necessary raw materials including coal. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19914', 'image' => '20240207094229_20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-07 09:42:00', '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' => '20205', 'article_category_id' => '1', 'title' => 'NEPSE Rises by 5.74 Points, Closing at 2096.38', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week, Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 8: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week, Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 317 scrips were traded on the NEPSE through 67,273 transactions. As many as 9,171,710 shares changed hands, resulting in a total turnover amount of Rs 3.21 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover amount with transactions of Rs 18 crores, closing at a market price of 689 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha (SAMAJ) gained 10% and hit the positive circuit for the day. Conversely, Siddhartha Growth Scheme 3 (SIGS3) lost the highest percentage, 9.97%, closing at a market price of Rs 8.49.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, nine sectors closed in the green territory, while the remaining landed in the red zone.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Hydropower Index saw the highest gain at 1.44%, while the Investment Index gained the least at 0.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, the Mutual Fund Index lost the highest percentage, 1%, while the Banking Index witnessed the lowest loss of 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19932', 'image' => '20240208034831_collage (6).jpg', 'article_date' => '2024-02-08 15:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20204', 'article_category_id' => '1', 'title' => 'Middle East Conflict Poses Risk of Consumer Prices Hike: OECD', 'sub_title' => '', 'summary' => 'February 8: The Organisation for Economic Cooperation and Development (OECD) has raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The Organisation for Economic Cooperation and Development </span><span style="font-family:"Arial Unicode MS","sans-serif"">(</span><span style="font-size:14.0pt">OECD</span><span style="font-family:"Arial Unicode MS","sans-serif"">) has </span><span style="font-size:14.0pt">raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to a news report published by AFP, the OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the United States, the world's top economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But despite the positive outlook, global trade remains subdued, according to OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated, with strong growth in the United States and emerging markets offsetting slowdowns in European nations. But indicators suggest "some moderation" of growth, with higher interest rates affecting the credit and housing markets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"> While inflation is falling in major economies, "it is too soon to be sure that underlying price pressures are fully contained", the OECD added in an update to its annual economic outlook.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The OECD highlighted the threats from the war between Israel and Hamas in Gaza, and the attacks on ships in the Red Sea by Yemeni rebels who say they were targeting Israel-linked ships in solidarity with the Palestinians. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US and UK forces have responded with strikes against the Huthi rebels, who have since declared American and British interests to be legitimate targets as well.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"High geopolitical tensions are a significant near-term risk to activity and inflation, particularly if the conflict in the Middle East were to disrupt energy markets," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"A widening or escalation of the conflict could disrupt shipping more extensively than presently expected, intensify supply bottlenecks, and push up energy prices if traffic is interrupted in the key routes for the transport of oil and gas from the Middle East to Asia, Europe and the Americas."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Around 15 percent of global maritime trade volume passed through the Red Sea in 2022, according to the OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The attacks have sharply raised shipping costs and lengthened delivery times of goods as companies have rerouted their vessels around the southern tip of Africa, increasing their journey by as much as 50 percent, it said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Production schedules have been disrupted in Europe, notably for automakers, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The attacks on ships on the Red sea are having an impact on trade. Freight rates have more than doubled since the end of last year," OECD chief economist Clare Lombardelli said at a news conference.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The increase in shipping costs, if persistent, could add 0.4 percentage points to consumer prices inflation after about a year, the OECD warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">According to AFP, </span></strong><span style="font-size:14.0pt">the organisation said monetary policy needs to "remain prudent" to ensure that inflationary pressure is "durably contained".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US Federal Reserve, the European Central Bank and the Bank of England raised interest rates sharply in efforts to rein in consumer prices that rose after the Covid pandemic and jumped further after Russia's invasion of Ukraine.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Growth could also be weaker than projected if the lingering effects from past policy rate increases are stronger than expected," the OECD said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The three central banks have recently paused their rate-hike campaigns and have kept them at high levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But markets are hopeful that policymakers will soon begin to cut rates as inflation has slowed in major economies, though it remains above two-percent targets. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19931', 'image' => '20240208033953_inflationnnnnn.jpg', 'article_date' => '2024-02-08 15:39:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20202', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits of Banks Declining', 'sub_title' => '', 'summary' => 'February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. After the banks reduced interest on fixed deposits, the portion of general savings have increased, while that of fixed deposits have started decline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, the banks had increased interest rates due to liquidity crisis. Due to this, the share of fixed deposits in the banks increased. However, Nepal Rastra Bank has said that the portion of fixed deposits has started to decline after the reduction in interest rates after liquidity situation eased in the current fiscal year (FY).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB, 60.3 percent of the total deposits with banks and financial institutions by mid-January last year were fixed deposits. But by mid-January this year, the share of fixed deposits has decreased to 59.9 percent. While fixed deposits have decreased, ordinary savings have increased. The share of ordinary savings increased from 25.6 percent in the previous year to 26.8 percent in the current year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, banks offered higher interest rates to increase term deposits. In order to attract deposits, they also introduced a plan to give up to 10 times the initial deposit in 21 years. Since the beginning of the current year, banks have started reducing interest rates, so the share of fixed deposits has also started to decrease. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As of mid-January of the current fiscal year, banks and financial institutions have collected Rs 6130 billion in deposits and provided loans of Rs 5083 billion. During this period, deposits increased by 6.6 percent, while loans expanded by only 4 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the liquidity crisis eased, the Nepal Bankers Association decided to end the practice of determining interest through consensus since the beginning of the current fiscal year. This allowed the banks to fix the interest rate individually in the competitive market. As a result, the maximum interest rate of the commercial banks fell below 8 percent in mid-January.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of the NRB, banks are allowed to provide a maximum interest rate of 5 percentage points more on fixed deposits than the minimum interest rate on ordinary savings. There is a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, other than call deposits, cannot differ by more than five percentage points. Similarly, there is a provision that banks can give an additional 1 percent more interest on remittance compared to the normal deposits.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19929', 'image' => '20240208022611_Banks - Copy.jpg', 'article_date' => '2024-02-08 14:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20201', 'article_category_id' => '1', 'title' => 'Govt Preparing to Release Startup Enterprise Loan by Upcoming April-May', 'sub_title' => '', 'summary' => 'February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government had recently called eligible companies to submit applications for the startup enterprise loans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three government agencies signed a memorandum of understanding on Wednesday to facilitate start-up loans. Following the agreement, the Industrial Enterprise Development Institute is preparing to begin disbursing loans for start-ups from upcoming April-May.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Industrial Enterprise Development Institute, Rastriya Banijya Bank and the Deposit and Credit Guarantee Fund signed the tripartite MoU for releasing the start-up enterprise loan by keeping the project as collateral.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Umesh Kumar Gupta, executive director of the institute, said the MoU has paved the way for disbursing the loans from April. He claimed that this program will be implemented in the current fiscal year if things go according to the plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government introduced the Startup Enterprise Loan Operation Procedure 2080 on January 25. After the implementation of the procedure, the institute issued a 21-day notice seeking proposals for the startup enterprises loans on February 2.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The government has been taking initiative to address the issue of youth migration by creating jobs in Nepal," said Gupta, "Since the government has already allocated the required budget, it is now possible to get loans for start-up enterprises from the current fiscal year."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, the start-ups will get the loans after a certain steps. In the first step, the start-ups have to submit a proposal to the institute. Secondly, a list of applicants will be prepared according to the proposal. Applicants will then be called for a presentation of their startup venture. An evaluation committee will evaluate their presentation. The committee will have representatives from the institute and experts in the related field. The presentation of selected startups will be 15 minutes. The committee will give marks based on the presentation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the third stage, the institute will rate the projects and then recommend to the Rastriya Banijya Bank to provide loan. The state-owned bank will provide loans to the startup enterprises if they meet the required score for credit rating.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has adopted a policy of providing a maximum loan of Rs 2.5 million to start-up enterprises at a subsidized interest rate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the new procedure, the bank will provide funds in one installment for loans up to Rs 0.5 million, 2 installments for loans up to Rs 1.5 million, and up to 3 installments for loans up to Rs 2.5 million. According to this procedure, a startup will get a concessional loan up to a maximum of Rs 2.5 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new procedure approved by the government has designated 16 sectors and enterprises eligible for the start-up enterprise loans provided that the enterprise should not have been registered more than seven years ago. The loan will be provided in the areas specified by the procedure and the loan period will be 5 years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the procedure, there is a provision that borrowers should start paying the principal and interest from the second year. The interest rate of such a loan will be 3 percent per annum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has allocated Rs 250 million for this program in the current fiscal year as well. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19928', 'image' => '20240208011240_startup.jpg', 'article_date' => '2024-02-08 13:11:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20200', 'article_category_id' => '1', 'title' => 'UN Chief says World in 'Age of Chaos' ', 'sub_title' => '', 'summary' => 'February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the war in Gaza entering its fifth month on Wednesday, Guterres warned that if the Israeli armed forces press on into the southern city of Rafah, it will "exponentially increase what is already a humanitarian nightmare with untold regional consequences." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli forces, in their campaign to destroy Hamas after its unprecedented attack on October 7, have relentlessly bombed the Gaza Strip and carried out a ground invasion, displacing over a million people southward. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"It is time for an immediate humanitarian ceasefire and the unconditional release of all hostages," Guterres said during a speech to the General Assembly presenting his 2024 priorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the speech, he called for changes to the Security Council and international financial system, among other reforms, touting his "Summit of the Future" in September as a critical venue to address dysfunction "deeper and more dangerous" than ever. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The United Nations Security Council -- the primary platform for questions of global peace -- is deadlocked by geopolitical fissures," said Guterres, a former Portuguese prime minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"This is not the first time the Council has been divided -- but it is the worst. Today's dysfunction is deeper and more dangerous." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that unlike during the Cold War, when "well-established mechanisms helped manage superpower relations," those mechanism are missing "in today's multipolar world." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Our world is entering in an age of chaos..., a dangerous and unpredictable free-for-all with total impunity," he warned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">His remarks come amid devastating conflicts in Ukraine, Sudan, the Middle East and elsewhere, with millions of people displaced by the fighting and in need of assistance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As conflicts proliferate, global humanitarian needs are at an all-time high, but funding is not keeping pace," Guterres said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against such a dark backdrop, Guterres encouraged world leaders to seize the opportunity of the "Summit of the Future," to be held in September in New York on the sidelines of the annual General Assembly to "shape multilateralism for years to come." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the heels of the Covid-19 pandemic, he called again for the development of an "emergency platform to improve the international response to complex global shocks." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Guterres, who has made addressing climate change a priority since taking office in 2017, reiterated that the crisis "remains the defining challenge of our time" and called for humanity to "make peace with the planet." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said "humanity has waged a war we can only lose: our war with nature. It is a crazy fight to pick." --- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19927', 'image' => '20240208121937_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-02-08 12:19:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20197', 'article_category_id' => '1', 'title' => 'IFRC, WWF Call for Global Action to Protect Nature, address Climate Crisis ', 'sub_title' => '', 'summary' => 'February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IFRC and WWF in Nepal informed that they were launching a strategic partnership with the theme “Working with Nature to Protect People.” This joint initiative aims to recognize the critical role of nature-based solutions in both mitigating and adapting to climate change while fostering resilience among communities on the front lines of the crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nature-based solutions, such as forest restoration, water source management, wetland rehabilitation, and river-bank plantations, have proven effective in Nepal, offering benefits beyond disaster risk reduction, they reminded, adding, “We reiterate that tackling climate crises requires protecting wildlife and biodiversity at an ecosystem scale, which is vital to create a future in which people and nature thrive together." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The collaboration between IFRC and WWF Nepal is an opportunity to make a difference at scale, and we call on partners to support our joint efforts,” remarked Country Representative of WWF Nepal, Dr. Ghana Shyam Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The partnership between IFRC and WWF will be leveraging their combined expertise and extensive networks to address the ongoing climate crisis, emerging risks, and societal challenges. Through local action and collaboration with government, partners, development agencies, donors, and private sectors, IFRC and WWF aim to integrate nature into climate adaptation strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This also includes engagement with authorities at all levels to provide policy advice and coordinate the initiatives as part of wider humanitarian and development efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Head of Delegation at IFRC, Azmat Ulla, observed, "Tackling climate crises requires protecting diversity and wildlife, and this is vital towards sustaining future generations. The IFRC and WWF collaboration is a great opportunity to make a difference and we call on partners to support.” – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19924', 'image' => '20240208105941_wwf.jpg', 'article_date' => '2024-02-08 10:58:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20196', 'article_category_id' => '1', 'title' => 'House of Representatives Unanimously Approves Bill on Anti-Money Laundering', 'sub_title' => '', 'summary' => 'he meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 8: The meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Dhanraj Gurung, had presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The endorsement has opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS .</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Criminal Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS will also undergo amendment with bill’s endorsement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the Bill.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">HoR will meet again on February 18 at 11:00 am. Speaker Devraj Ghimire informed that the parliamentarians could hold live question and answer session with the Prime Minister in the next meeting. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19923', 'image' => '20240208062053_collage (27).jpg', 'article_date' => '2024-02-08 06:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20195', 'article_category_id' => '1', 'title' => 'SC Invalidates Land Swap of Giribandhu Tea Estate ', 'sub_title' => '', 'summary' => 'February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A constitutional bench comprising Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Prakashman Singh Raut, Sapana Pradhan Malla and Sushma Lata Mathema found that the land swap was against constitutional provision and illogical, thereby being subject to cancellation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the government had amended the law to allow the tea estate to swap the land but the SC concluded that the swap deal was beyond limitation and annulled it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Government of Nepal (through cabinet decision) had given permission to the Giribandhu Tea Estate Pvt to exchange 343-19-12 bighas of land on April 26, 2021, which is against Section 12 (c) of Land Act, 2021. So, the decision is subject to cancellation with certiorari," the SC order mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19922', 'image' => '20240207115411_Supreme Court.jpg', 'article_date' => '2024-02-07 23:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20193', 'article_category_id' => '1', 'title' => 'New Bill Proposes Criminalizing Contractors for Dilly-Dallying Construction Projects', 'sub_title' => '', 'summary' => 'February 7: From now on, the law will consider those who take up the responsibility for any development project and delay the work as criminals.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: From now on, the law will soon consider those who take up the responsibility for any development project and delay the work as criminals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A parliamentary committee has passed the Monitoring and Evaluation Bill introduced by the government to regulate the contractors at a time when the development work in the country is taking place at a snail’s pace.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill proposes criminalizing the employees and contractors who engage in fraudulent activities in construction projects. Those who are found involved in misappropriation will be punished according to the criminal law once the bill is passed by the parliament.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government had introduced the bill four years ago to make the monitoring and evaluation of the country's development works and plans more effective. The State Order and Good Governance Committee meeting held at Singh Durbar on Tuesday passed the bill recommending strict provisions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We have unanimously passed the bill which originated in the National Assembly to regulate monitoring and evaluation," Committee Chairman Ramhari Khatiwada said in a conversation with New Business Age, adding, “Now we can tame anyone including project chiefs, contractors, office chiefs, government or minister involved in dilly-dallying development works.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Khatiwada, fraudulent ativities has been considered a crime in the bill. The committee has passed the bill with the provision that the government agency can initiate action under the criminal code. According to Khatiwada, this bill will be presented in the upcoming session of parliament. So far, the state does not consider the delay in development and construction works as a crime.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the bill passed by the committee with amendments, there is a provision to monitor and evaluate the projects every six months. The bill has provision for regular monitoring and evaluation of the schemes run by all three levels of government. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Office of the Prime Minister and Council of Ministers and the National Planning Commission are considered as the highest bodies for monitoring and evaluation at all three levels. According to the provisions of the Bill, the National Planning Commission shall approve the periodical plans, master plans, annual plans, projects of national pride, national priority projects, transformative projects, important projects designated by the Government of Nepal, projects operated with foreign aid and projects operated with grants provided to the provinces and local levels and monitor and evaluate them in accordance with the prevailing laws.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill states that the monitoring and evaluation report of the province should be made available if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill stipulates that rural municipalities and municipalities should regularly monitor and evaluate plans implemented at the local level. There is also a provision that the local level report should be provided if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill was introduced by the government four years ago but it could not move forward due to various reasons. This bill, which will be presented in the upcoming session of parliament, will go into the implementation stage after it is passed by the House of Representatives.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19920', 'image' => '20240207023004_Parliament.jpg', 'article_date' => '2024-02-07 14:29:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20192', 'article_category_id' => '1', 'title' => 'NRB’s Half-Yearly Review Depicts Positive Indicators of Economy', 'sub_title' => '', 'summary' => 'February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank's assessment, based on the six months' data ending in mid-January, there is an improvement in overall economic and financial indicators. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Remittance inflows increased by 25.3 percent to reach Rs 733.22 billion in the review period, compared to a 24.3 percent increase in the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 207,970 and taking approval for renew entry stood at 135,435. In the previous year, such numbers were 275,643 and 142,548 respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The net transfer increased 24 percent to Rs 799.51 billion in the review period. Such a transfer had increased 22.7 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Balance of Payments (BOP) remained at a surplus of Rs 273.52 billion in the review period against a surplus of Rs 92.15 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gross foreign exchange reserves increased by 18.0 percent to Rs 1816.57 billion in mid-January 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deposits of banks and financial institutions rose by 6.6 percent and private sector credit increased 4 percent. On y-o-y basis, deposits increased 14.9 percent and private sector credit increased 4.9 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation moderated to 5.26 percent in mid-January 2024 compared to 7.26 percent a year ago. Food and beverage category inflation stood at 5.77 percent whereas non-food and service category inflation stood at 4.85 percent in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report state that the y-o-y price index of ghee and oil, vegetables, meat and fish and transportation sub-categories exhibited a downward trend in mid-January 2024. Additionally, price index of spices and sugar and sugar products also moderated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the review month, the y-o-y import price index, salary and wage rate index and the wholesale price index also moderated. These factors contributed to a moderated consumer price inflation </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Food and Beverage Category, y-o-y price index of ghee and oil, vegetable and meat and fish sub-category decreased by 13.07 percent, 1.04 percent and 0.06 percent respectively in the review month. The y-o-y price index of spices sub-category increased by 35.60 percent, cereal grains and their products 11.38 percent, pulses and legumes 11.14 percent, milk products and eggs 10.29 percent and fruit 10.15 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Non-Food and Services Category, y-o-y price index of transportation sub-category decreased by 1.62 percent in the review month. The y-o-y price index of recreation and culture subcategory increased by 12.84 percent, miscellaneous goods and services 9.73 percent, education 8.92 percent, furnishing and household equipment 5.18 percent and clothes and footwear 4.96 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain region stood at 5.76 percent, 4.78 percent, 5.40 percent and 6.57 percent respectively in the review month. Such inflation in these regions was 6.93 percent, 7.49 percent, 7.30 percent and 6.69 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y wholesale price inflation stood at 3.36 percent in mid-January 2024 compared to 9.82 percent a year ago. The y-o-y wholesale price index of consumption goods, intermediate goods and capital goods increased 6.16 percent, 1.99 percent and 2.71 percent respectively. The y-o-y wholesale price index of construction material decreased 1.08 percent in the review month. The y-o-y salary and wage rate index increased 5.56 percent in mid-January 2024 compared to 10.27 percent a year ago. The y-o-y salary index and wage rate index increased 1.05 and 6.92 percent respectively in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Imports fell by 3.1 percent, exports by 7.2 percent and trade deficit by 2.6 percent. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19919', 'image' => '20240207014952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-07 13:49:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20191', 'article_category_id' => '1', 'title' => 'No Party Interested in Buying China-made Aircraft of NAC', 'sub_title' => '', 'summary' => 'February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. The state-owned NAC called for tender bids again on Tuesday for the sale of its Chinese airplanes which have been grounded since last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year too, the NAC had sought proposals for leasing the Chinese aircraft. After failing to find any company interested to lease the aircraft, the NAC started the process to sell those aircraft. The NAC had to call for tender bids for the second time after no one showed interest in buying the aircraft in the first tender call.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NAC Spokesperson Ramesh Paudel informed New Business Age that the tender was issued again after they did not receive any proposal within the specified period. Applicants interested in purchasing the grounded Chinese aircraft need to submit proposals to the NAC by February <span style="font-family:"Arial Unicode MS","sans-serif"">21.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal welcomed the first lot of Chinese aircraft about ten years ago in April/May 2014<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>The government received two Chinese aircraft with a grant from China and purchased four of them with a loan. The NAC received MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft each under the grant of the Chinese government. Another MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and three Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft were purchased on loan at subsidized interest rate. The government purchased the aircraft under an agreement to repay the loan within <span style="font-family:"Arial Unicode MS","sans-serif"">20</span> years including a grace period of seven years. The government spent more than Rs <span style="font-family:"Arial Unicode MS","sans-serif"">4</span> billion in several installments for the purchase of these aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Culture, Tourism and Civil Aviation Sudan Kirati revealed during a recent event that the government has to pay Rs <span style="font-family:"Arial Unicode MS","sans-serif"">200</span> million a year for insurance and parking fee for those grounded aircraft. "It is not possible to find out how and why the Chinese aircraft were purchased," he said, adding, “How much more debt shall we pay?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC had to start paying installments of the loan from October/November <span style="font-family:"Arial Unicode MS","sans-serif"">20</span>21. One year later, the NAC started the evaluation process of the aircraft in November/December <span style="font-family:"Arial Unicode MS","sans-serif"">2022</span> for the sale of the aircraft. At that time, the Ministry of Finance had given the option of either selling or renting the aircraft. However, no one was interested in hiring those aircraft. No one is either interested in purchasing the aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the NAC also issued international tender bids on Tuesday to take two narrow-body aircraft on wet lease under which the aircraft, crew, maintenance and insurance (ACMI) will be managed by the interested party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC, which has been providing air services with two wide-body and two narrow-body aircraft, has invited tender bids to take two more narrow-body aircraft on wet lease. According to the press statement issued by the NAC on Tuesday, the flag-carrier of Nepal started the process for acquiring more aircraft because it has not been able to meet the demand for flights with its existing narrow-body aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the NAC, currently two wide-body aircraft are being used for flights to Japan, Sydney and Korea. "In other sectors, two narrow-body aircraft have not been able to handle the demand of flight pressure," the statement reads, adding, "There is a plan to increase the income by adding flights to New Delhi, Dubai, Doha, Malaysia and other sectors and also to other destinations from Bhairahawa."</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19918', 'image' => '20240207013823_20210401035949_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2024-02-07 13:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20190', 'article_category_id' => '1', 'title' => ' Upgrading Runway of Meghauli Airport Begins', 'sub_title' => '', 'summary' => 'February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan. After upgrading, the runway will be 700 meters long and 20 meters wide. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Meghauli Airport project Chandramani Sapkota shared that the grass-field runway is being upgraded to high-level graveled runway. The upgrading work of the runway is expected to cost of around Rs 12 million. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has been using the air strip for training soldiers for para-jumping. Likewise, hotels in Meghauli charter aircraft and helicopters to bring in their guests. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airport remains closed for regular flights since 2067 BS after the government adopted a policy not to operate hotels inside Chitwan National Park. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Meghauli Airport is spread over 23 bigahas of land is 24 km south from Bharatpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19917', 'image' => '20240207010555_20220905115923_meghauli.jpg', 'article_date' => '2024-02-07 13:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20189', 'article_category_id' => '1', 'title' => 'Colourful Cauliflowers Draw Huge Crowd in Lahan ', 'sub_title' => '', 'summary' => 'February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shah has produced cauliflowers of purple and yellow colours. Shah said he first saw such colourful cauliflowers when he was in foreign employment seven years ago. After returning home, he brought such cauliflower seeds from neighbour India and planted them in his field. The seeds are five times costlier than normal cauliflower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is now planning to expand his colourful cauliflower farms, after getting good response from the market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Because of its different color and taste, it is sold as soon as it reaches the market," said Shah, who is thinking of increasing the production in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Just on Monday, Shah said he sold 16 kgs of colourful cauliflowers at the rate of Rs 200 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, large number of people have been visiting his farm to see the rare cauliflowers. "Since there was widespread talk about this cauliflower everywhere, I came to see what it is really like. I am amazed to see it,” said Kusheshwar Yadav, a local head master. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19916', 'image' => '20240207120636_cauli-purp - Copy (2).jpg', 'article_date' => '2024-02-07 12:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20188', 'article_category_id' => '1', 'title' => 'Karnali Government Preparing for Intra-Province Air Service ', 'sub_title' => '', 'summary' => 'February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The province government is working with air service operators including the state-owned Nepal Airlines Corporation to operate domestic flights from Surkhet Airport in the provincial capital Birendranagar to the airports in the mountainous districts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accordingly, the NAC is collaborating with the provincial government to expand domestic air services from Surkhet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this regard, Chief Minister Rajkumar Sharma; NAC coordinator in Surkhet, Mahesh Kumar Marita; manager of the Engineering Department of NAC, Devendra Pun; and chief of Surkhet Civil Aviation Office, Rajan Dhungel made an onsite-inspection of the airport on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Minister Sharma said that the government will extend support for physical infrastructure and other requirements for the domestic flights. The provincial government is adding internal flights to facilitate the residents of Karnali Province, he said while adding that the provincial government has kept the improvement of Surkhet Airport as a top priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, NAC Coordinator Marita said that the service will be operated as soon as possible in consideration of the request made by the provincial government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19915', 'image' => '20240207111424_DB_Simkot-IMG-20240206.JPG - Copy.jpg', 'article_date' => '2024-02-07 11:13:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20187', 'article_category_id' => '1', 'title' => 'Hetauda Cement Industry Resumes Production', 'sub_title' => '', 'summary' => 'February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months. The industry had stopped production due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Naveen Kumar Karna, deputy general manager of the industry, said that it was difficult to purchase coal due to the financial crisis faced by the industry. He added that the industry started production after purchasing 1,800 metric tons of coal recently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry requires 100 metric tons of coal every day. Meanwhile, General Manager of the Industry, Basanta Raj Pandey, said that the industry will not be closed in the near future as there will be regular supply of coal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry having the capacity to produce 18,000 sacks of cement per day can now produce only 10,000 sacks due to the worn-out machines. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The cement industry has been producing cement commercially since 2043 BS. Currently, 150 people are directly employed by the industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">General Manager Pandey said negotiations are going on with the Ministry of Industry, Commerce and Supplies to install new equipment and provide subsidies for the purchase of necessary raw materials including coal. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19914', 'image' => '20240207094229_20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-07 09:42:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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As many as 9,171,710 shares changed hands, resulting in a total turnover amount of Rs 3.21 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover amount with transactions of Rs 18 crores, closing at a market price of 689 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha (SAMAJ) gained 10% and hit the positive circuit for the day. Conversely, Siddhartha Growth Scheme 3 (SIGS3) lost the highest percentage, 9.97%, closing at a market price of Rs 8.49.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, nine sectors closed in the green territory, while the remaining landed in the red zone.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Hydropower Index saw the highest gain at 1.44%, while the Investment Index gained the least at 0.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, the Mutual Fund Index lost the highest percentage, 1%, while the Banking Index witnessed the lowest loss of 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19932', 'image' => '20240208034831_collage (6).jpg', 'article_date' => '2024-02-08 15:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20204', 'article_category_id' => '1', 'title' => 'Middle East Conflict Poses Risk of Consumer Prices Hike: OECD', 'sub_title' => '', 'summary' => 'February 8: The Organisation for Economic Cooperation and Development (OECD) has raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The Organisation for Economic Cooperation and Development </span><span style="font-family:"Arial Unicode MS","sans-serif"">(</span><span style="font-size:14.0pt">OECD</span><span style="font-family:"Arial Unicode MS","sans-serif"">) has </span><span style="font-size:14.0pt">raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to a news report published by AFP, the OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the United States, the world's top economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But despite the positive outlook, global trade remains subdued, according to OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated, with strong growth in the United States and emerging markets offsetting slowdowns in European nations. But indicators suggest "some moderation" of growth, with higher interest rates affecting the credit and housing markets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"> While inflation is falling in major economies, "it is too soon to be sure that underlying price pressures are fully contained", the OECD added in an update to its annual economic outlook.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The OECD highlighted the threats from the war between Israel and Hamas in Gaza, and the attacks on ships in the Red Sea by Yemeni rebels who say they were targeting Israel-linked ships in solidarity with the Palestinians. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US and UK forces have responded with strikes against the Huthi rebels, who have since declared American and British interests to be legitimate targets as well.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"High geopolitical tensions are a significant near-term risk to activity and inflation, particularly if the conflict in the Middle East were to disrupt energy markets," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"A widening or escalation of the conflict could disrupt shipping more extensively than presently expected, intensify supply bottlenecks, and push up energy prices if traffic is interrupted in the key routes for the transport of oil and gas from the Middle East to Asia, Europe and the Americas."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Around 15 percent of global maritime trade volume passed through the Red Sea in 2022, according to the OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The attacks have sharply raised shipping costs and lengthened delivery times of goods as companies have rerouted their vessels around the southern tip of Africa, increasing their journey by as much as 50 percent, it said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Production schedules have been disrupted in Europe, notably for automakers, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The attacks on ships on the Red sea are having an impact on trade. Freight rates have more than doubled since the end of last year," OECD chief economist Clare Lombardelli said at a news conference.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The increase in shipping costs, if persistent, could add 0.4 percentage points to consumer prices inflation after about a year, the OECD warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">According to AFP, </span></strong><span style="font-size:14.0pt">the organisation said monetary policy needs to "remain prudent" to ensure that inflationary pressure is "durably contained".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US Federal Reserve, the European Central Bank and the Bank of England raised interest rates sharply in efforts to rein in consumer prices that rose after the Covid pandemic and jumped further after Russia's invasion of Ukraine.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Growth could also be weaker than projected if the lingering effects from past policy rate increases are stronger than expected," the OECD said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The three central banks have recently paused their rate-hike campaigns and have kept them at high levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But markets are hopeful that policymakers will soon begin to cut rates as inflation has slowed in major economies, though it remains above two-percent targets. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19931', 'image' => '20240208033953_inflationnnnnn.jpg', 'article_date' => '2024-02-08 15:39:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20202', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits of Banks Declining', 'sub_title' => '', 'summary' => 'February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. After the banks reduced interest on fixed deposits, the portion of general savings have increased, while that of fixed deposits have started decline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, the banks had increased interest rates due to liquidity crisis. Due to this, the share of fixed deposits in the banks increased. However, Nepal Rastra Bank has said that the portion of fixed deposits has started to decline after the reduction in interest rates after liquidity situation eased in the current fiscal year (FY).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB, 60.3 percent of the total deposits with banks and financial institutions by mid-January last year were fixed deposits. But by mid-January this year, the share of fixed deposits has decreased to 59.9 percent. While fixed deposits have decreased, ordinary savings have increased. The share of ordinary savings increased from 25.6 percent in the previous year to 26.8 percent in the current year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, banks offered higher interest rates to increase term deposits. In order to attract deposits, they also introduced a plan to give up to 10 times the initial deposit in 21 years. Since the beginning of the current year, banks have started reducing interest rates, so the share of fixed deposits has also started to decrease. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As of mid-January of the current fiscal year, banks and financial institutions have collected Rs 6130 billion in deposits and provided loans of Rs 5083 billion. During this period, deposits increased by 6.6 percent, while loans expanded by only 4 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the liquidity crisis eased, the Nepal Bankers Association decided to end the practice of determining interest through consensus since the beginning of the current fiscal year. This allowed the banks to fix the interest rate individually in the competitive market. As a result, the maximum interest rate of the commercial banks fell below 8 percent in mid-January.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of the NRB, banks are allowed to provide a maximum interest rate of 5 percentage points more on fixed deposits than the minimum interest rate on ordinary savings. There is a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, other than call deposits, cannot differ by more than five percentage points. Similarly, there is a provision that banks can give an additional 1 percent more interest on remittance compared to the normal deposits.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19929', 'image' => '20240208022611_Banks - Copy.jpg', 'article_date' => '2024-02-08 14:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20201', 'article_category_id' => '1', 'title' => 'Govt Preparing to Release Startup Enterprise Loan by Upcoming April-May', 'sub_title' => '', 'summary' => 'February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government had recently called eligible companies to submit applications for the startup enterprise loans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three government agencies signed a memorandum of understanding on Wednesday to facilitate start-up loans. Following the agreement, the Industrial Enterprise Development Institute is preparing to begin disbursing loans for start-ups from upcoming April-May.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Industrial Enterprise Development Institute, Rastriya Banijya Bank and the Deposit and Credit Guarantee Fund signed the tripartite MoU for releasing the start-up enterprise loan by keeping the project as collateral.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Umesh Kumar Gupta, executive director of the institute, said the MoU has paved the way for disbursing the loans from April. He claimed that this program will be implemented in the current fiscal year if things go according to the plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government introduced the Startup Enterprise Loan Operation Procedure 2080 on January 25. After the implementation of the procedure, the institute issued a 21-day notice seeking proposals for the startup enterprises loans on February 2.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The government has been taking initiative to address the issue of youth migration by creating jobs in Nepal," said Gupta, "Since the government has already allocated the required budget, it is now possible to get loans for start-up enterprises from the current fiscal year."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, the start-ups will get the loans after a certain steps. In the first step, the start-ups have to submit a proposal to the institute. Secondly, a list of applicants will be prepared according to the proposal. Applicants will then be called for a presentation of their startup venture. An evaluation committee will evaluate their presentation. The committee will have representatives from the institute and experts in the related field. The presentation of selected startups will be 15 minutes. The committee will give marks based on the presentation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the third stage, the institute will rate the projects and then recommend to the Rastriya Banijya Bank to provide loan. The state-owned bank will provide loans to the startup enterprises if they meet the required score for credit rating.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has adopted a policy of providing a maximum loan of Rs 2.5 million to start-up enterprises at a subsidized interest rate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the new procedure, the bank will provide funds in one installment for loans up to Rs 0.5 million, 2 installments for loans up to Rs 1.5 million, and up to 3 installments for loans up to Rs 2.5 million. According to this procedure, a startup will get a concessional loan up to a maximum of Rs 2.5 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new procedure approved by the government has designated 16 sectors and enterprises eligible for the start-up enterprise loans provided that the enterprise should not have been registered more than seven years ago. The loan will be provided in the areas specified by the procedure and the loan period will be 5 years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the procedure, there is a provision that borrowers should start paying the principal and interest from the second year. The interest rate of such a loan will be 3 percent per annum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has allocated Rs 250 million for this program in the current fiscal year as well. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19928', 'image' => '20240208011240_startup.jpg', 'article_date' => '2024-02-08 13:11:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20200', 'article_category_id' => '1', 'title' => 'UN Chief says World in 'Age of Chaos' ', 'sub_title' => '', 'summary' => 'February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the war in Gaza entering its fifth month on Wednesday, Guterres warned that if the Israeli armed forces press on into the southern city of Rafah, it will "exponentially increase what is already a humanitarian nightmare with untold regional consequences." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli forces, in their campaign to destroy Hamas after its unprecedented attack on October 7, have relentlessly bombed the Gaza Strip and carried out a ground invasion, displacing over a million people southward. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"It is time for an immediate humanitarian ceasefire and the unconditional release of all hostages," Guterres said during a speech to the General Assembly presenting his 2024 priorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the speech, he called for changes to the Security Council and international financial system, among other reforms, touting his "Summit of the Future" in September as a critical venue to address dysfunction "deeper and more dangerous" than ever. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The United Nations Security Council -- the primary platform for questions of global peace -- is deadlocked by geopolitical fissures," said Guterres, a former Portuguese prime minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"This is not the first time the Council has been divided -- but it is the worst. Today's dysfunction is deeper and more dangerous." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that unlike during the Cold War, when "well-established mechanisms helped manage superpower relations," those mechanism are missing "in today's multipolar world." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Our world is entering in an age of chaos..., a dangerous and unpredictable free-for-all with total impunity," he warned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">His remarks come amid devastating conflicts in Ukraine, Sudan, the Middle East and elsewhere, with millions of people displaced by the fighting and in need of assistance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As conflicts proliferate, global humanitarian needs are at an all-time high, but funding is not keeping pace," Guterres said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against such a dark backdrop, Guterres encouraged world leaders to seize the opportunity of the "Summit of the Future," to be held in September in New York on the sidelines of the annual General Assembly to "shape multilateralism for years to come." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the heels of the Covid-19 pandemic, he called again for the development of an "emergency platform to improve the international response to complex global shocks." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Guterres, who has made addressing climate change a priority since taking office in 2017, reiterated that the crisis "remains the defining challenge of our time" and called for humanity to "make peace with the planet." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said "humanity has waged a war we can only lose: our war with nature. It is a crazy fight to pick." --- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19927', 'image' => '20240208121937_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-02-08 12:19:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20197', 'article_category_id' => '1', 'title' => 'IFRC, WWF Call for Global Action to Protect Nature, address Climate Crisis ', 'sub_title' => '', 'summary' => 'February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IFRC and WWF in Nepal informed that they were launching a strategic partnership with the theme “Working with Nature to Protect People.” This joint initiative aims to recognize the critical role of nature-based solutions in both mitigating and adapting to climate change while fostering resilience among communities on the front lines of the crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nature-based solutions, such as forest restoration, water source management, wetland rehabilitation, and river-bank plantations, have proven effective in Nepal, offering benefits beyond disaster risk reduction, they reminded, adding, “We reiterate that tackling climate crises requires protecting wildlife and biodiversity at an ecosystem scale, which is vital to create a future in which people and nature thrive together." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The collaboration between IFRC and WWF Nepal is an opportunity to make a difference at scale, and we call on partners to support our joint efforts,” remarked Country Representative of WWF Nepal, Dr. Ghana Shyam Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The partnership between IFRC and WWF will be leveraging their combined expertise and extensive networks to address the ongoing climate crisis, emerging risks, and societal challenges. Through local action and collaboration with government, partners, development agencies, donors, and private sectors, IFRC and WWF aim to integrate nature into climate adaptation strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This also includes engagement with authorities at all levels to provide policy advice and coordinate the initiatives as part of wider humanitarian and development efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Head of Delegation at IFRC, Azmat Ulla, observed, "Tackling climate crises requires protecting diversity and wildlife, and this is vital towards sustaining future generations. The IFRC and WWF collaboration is a great opportunity to make a difference and we call on partners to support.” – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19924', 'image' => '20240208105941_wwf.jpg', 'article_date' => '2024-02-08 10:58:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20196', 'article_category_id' => '1', 'title' => 'House of Representatives Unanimously Approves Bill on Anti-Money Laundering', 'sub_title' => '', 'summary' => 'he meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 8: The meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Dhanraj Gurung, had presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The endorsement has opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS .</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Criminal Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS will also undergo amendment with bill’s endorsement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the Bill.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">HoR will meet again on February 18 at 11:00 am. Speaker Devraj Ghimire informed that the parliamentarians could hold live question and answer session with the Prime Minister in the next meeting. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19923', 'image' => '20240208062053_collage (27).jpg', 'article_date' => '2024-02-08 06:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20195', 'article_category_id' => '1', 'title' => 'SC Invalidates Land Swap of Giribandhu Tea Estate ', 'sub_title' => '', 'summary' => 'February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A constitutional bench comprising Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Prakashman Singh Raut, Sapana Pradhan Malla and Sushma Lata Mathema found that the land swap was against constitutional provision and illogical, thereby being subject to cancellation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the government had amended the law to allow the tea estate to swap the land but the SC concluded that the swap deal was beyond limitation and annulled it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Government of Nepal (through cabinet decision) had given permission to the Giribandhu Tea Estate Pvt to exchange 343-19-12 bighas of land on April 26, 2021, which is against Section 12 (c) of Land Act, 2021. So, the decision is subject to cancellation with certiorari," the SC order mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19922', 'image' => '20240207115411_Supreme Court.jpg', 'article_date' => '2024-02-07 23:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20193', 'article_category_id' => '1', 'title' => 'New Bill Proposes Criminalizing Contractors for Dilly-Dallying Construction Projects', 'sub_title' => '', 'summary' => 'February 7: From now on, the law will consider those who take up the responsibility for any development project and delay the work as criminals.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: From now on, the law will soon consider those who take up the responsibility for any development project and delay the work as criminals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A parliamentary committee has passed the Monitoring and Evaluation Bill introduced by the government to regulate the contractors at a time when the development work in the country is taking place at a snail’s pace.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill proposes criminalizing the employees and contractors who engage in fraudulent activities in construction projects. Those who are found involved in misappropriation will be punished according to the criminal law once the bill is passed by the parliament.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government had introduced the bill four years ago to make the monitoring and evaluation of the country's development works and plans more effective. The State Order and Good Governance Committee meeting held at Singh Durbar on Tuesday passed the bill recommending strict provisions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We have unanimously passed the bill which originated in the National Assembly to regulate monitoring and evaluation," Committee Chairman Ramhari Khatiwada said in a conversation with New Business Age, adding, “Now we can tame anyone including project chiefs, contractors, office chiefs, government or minister involved in dilly-dallying development works.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Khatiwada, fraudulent ativities has been considered a crime in the bill. The committee has passed the bill with the provision that the government agency can initiate action under the criminal code. According to Khatiwada, this bill will be presented in the upcoming session of parliament. So far, the state does not consider the delay in development and construction works as a crime.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the bill passed by the committee with amendments, there is a provision to monitor and evaluate the projects every six months. The bill has provision for regular monitoring and evaluation of the schemes run by all three levels of government. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Office of the Prime Minister and Council of Ministers and the National Planning Commission are considered as the highest bodies for monitoring and evaluation at all three levels. According to the provisions of the Bill, the National Planning Commission shall approve the periodical plans, master plans, annual plans, projects of national pride, national priority projects, transformative projects, important projects designated by the Government of Nepal, projects operated with foreign aid and projects operated with grants provided to the provinces and local levels and monitor and evaluate them in accordance with the prevailing laws.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill states that the monitoring and evaluation report of the province should be made available if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill stipulates that rural municipalities and municipalities should regularly monitor and evaluate plans implemented at the local level. There is also a provision that the local level report should be provided if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill was introduced by the government four years ago but it could not move forward due to various reasons. This bill, which will be presented in the upcoming session of parliament, will go into the implementation stage after it is passed by the House of Representatives.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19920', 'image' => '20240207023004_Parliament.jpg', 'article_date' => '2024-02-07 14:29:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20192', 'article_category_id' => '1', 'title' => 'NRB’s Half-Yearly Review Depicts Positive Indicators of Economy', 'sub_title' => '', 'summary' => 'February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank's assessment, based on the six months' data ending in mid-January, there is an improvement in overall economic and financial indicators. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Remittance inflows increased by 25.3 percent to reach Rs 733.22 billion in the review period, compared to a 24.3 percent increase in the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 207,970 and taking approval for renew entry stood at 135,435. In the previous year, such numbers were 275,643 and 142,548 respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The net transfer increased 24 percent to Rs 799.51 billion in the review period. Such a transfer had increased 22.7 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Balance of Payments (BOP) remained at a surplus of Rs 273.52 billion in the review period against a surplus of Rs 92.15 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gross foreign exchange reserves increased by 18.0 percent to Rs 1816.57 billion in mid-January 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deposits of banks and financial institutions rose by 6.6 percent and private sector credit increased 4 percent. On y-o-y basis, deposits increased 14.9 percent and private sector credit increased 4.9 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation moderated to 5.26 percent in mid-January 2024 compared to 7.26 percent a year ago. Food and beverage category inflation stood at 5.77 percent whereas non-food and service category inflation stood at 4.85 percent in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report state that the y-o-y price index of ghee and oil, vegetables, meat and fish and transportation sub-categories exhibited a downward trend in mid-January 2024. Additionally, price index of spices and sugar and sugar products also moderated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the review month, the y-o-y import price index, salary and wage rate index and the wholesale price index also moderated. These factors contributed to a moderated consumer price inflation </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Food and Beverage Category, y-o-y price index of ghee and oil, vegetable and meat and fish sub-category decreased by 13.07 percent, 1.04 percent and 0.06 percent respectively in the review month. The y-o-y price index of spices sub-category increased by 35.60 percent, cereal grains and their products 11.38 percent, pulses and legumes 11.14 percent, milk products and eggs 10.29 percent and fruit 10.15 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Non-Food and Services Category, y-o-y price index of transportation sub-category decreased by 1.62 percent in the review month. The y-o-y price index of recreation and culture subcategory increased by 12.84 percent, miscellaneous goods and services 9.73 percent, education 8.92 percent, furnishing and household equipment 5.18 percent and clothes and footwear 4.96 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain region stood at 5.76 percent, 4.78 percent, 5.40 percent and 6.57 percent respectively in the review month. Such inflation in these regions was 6.93 percent, 7.49 percent, 7.30 percent and 6.69 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y wholesale price inflation stood at 3.36 percent in mid-January 2024 compared to 9.82 percent a year ago. The y-o-y wholesale price index of consumption goods, intermediate goods and capital goods increased 6.16 percent, 1.99 percent and 2.71 percent respectively. The y-o-y wholesale price index of construction material decreased 1.08 percent in the review month. The y-o-y salary and wage rate index increased 5.56 percent in mid-January 2024 compared to 10.27 percent a year ago. The y-o-y salary index and wage rate index increased 1.05 and 6.92 percent respectively in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Imports fell by 3.1 percent, exports by 7.2 percent and trade deficit by 2.6 percent. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19919', 'image' => '20240207014952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-07 13:49:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20191', 'article_category_id' => '1', 'title' => 'No Party Interested in Buying China-made Aircraft of NAC', 'sub_title' => '', 'summary' => 'February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. The state-owned NAC called for tender bids again on Tuesday for the sale of its Chinese airplanes which have been grounded since last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year too, the NAC had sought proposals for leasing the Chinese aircraft. After failing to find any company interested to lease the aircraft, the NAC started the process to sell those aircraft. The NAC had to call for tender bids for the second time after no one showed interest in buying the aircraft in the first tender call.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NAC Spokesperson Ramesh Paudel informed New Business Age that the tender was issued again after they did not receive any proposal within the specified period. Applicants interested in purchasing the grounded Chinese aircraft need to submit proposals to the NAC by February <span style="font-family:"Arial Unicode MS","sans-serif"">21.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal welcomed the first lot of Chinese aircraft about ten years ago in April/May 2014<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>The government received two Chinese aircraft with a grant from China and purchased four of them with a loan. The NAC received MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft each under the grant of the Chinese government. Another MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and three Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft were purchased on loan at subsidized interest rate. The government purchased the aircraft under an agreement to repay the loan within <span style="font-family:"Arial Unicode MS","sans-serif"">20</span> years including a grace period of seven years. The government spent more than Rs <span style="font-family:"Arial Unicode MS","sans-serif"">4</span> billion in several installments for the purchase of these aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Culture, Tourism and Civil Aviation Sudan Kirati revealed during a recent event that the government has to pay Rs <span style="font-family:"Arial Unicode MS","sans-serif"">200</span> million a year for insurance and parking fee for those grounded aircraft. "It is not possible to find out how and why the Chinese aircraft were purchased," he said, adding, “How much more debt shall we pay?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC had to start paying installments of the loan from October/November <span style="font-family:"Arial Unicode MS","sans-serif"">20</span>21. One year later, the NAC started the evaluation process of the aircraft in November/December <span style="font-family:"Arial Unicode MS","sans-serif"">2022</span> for the sale of the aircraft. At that time, the Ministry of Finance had given the option of either selling or renting the aircraft. However, no one was interested in hiring those aircraft. No one is either interested in purchasing the aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the NAC also issued international tender bids on Tuesday to take two narrow-body aircraft on wet lease under which the aircraft, crew, maintenance and insurance (ACMI) will be managed by the interested party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC, which has been providing air services with two wide-body and two narrow-body aircraft, has invited tender bids to take two more narrow-body aircraft on wet lease. According to the press statement issued by the NAC on Tuesday, the flag-carrier of Nepal started the process for acquiring more aircraft because it has not been able to meet the demand for flights with its existing narrow-body aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the NAC, currently two wide-body aircraft are being used for flights to Japan, Sydney and Korea. "In other sectors, two narrow-body aircraft have not been able to handle the demand of flight pressure," the statement reads, adding, "There is a plan to increase the income by adding flights to New Delhi, Dubai, Doha, Malaysia and other sectors and also to other destinations from Bhairahawa."</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19918', 'image' => '20240207013823_20210401035949_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2024-02-07 13:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20190', 'article_category_id' => '1', 'title' => ' Upgrading Runway of Meghauli Airport Begins', 'sub_title' => '', 'summary' => 'February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan. After upgrading, the runway will be 700 meters long and 20 meters wide. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Meghauli Airport project Chandramani Sapkota shared that the grass-field runway is being upgraded to high-level graveled runway. The upgrading work of the runway is expected to cost of around Rs 12 million. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has been using the air strip for training soldiers for para-jumping. Likewise, hotels in Meghauli charter aircraft and helicopters to bring in their guests. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airport remains closed for regular flights since 2067 BS after the government adopted a policy not to operate hotels inside Chitwan National Park. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Meghauli Airport is spread over 23 bigahas of land is 24 km south from Bharatpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19917', 'image' => '20240207010555_20220905115923_meghauli.jpg', 'article_date' => '2024-02-07 13:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20189', 'article_category_id' => '1', 'title' => 'Colourful Cauliflowers Draw Huge Crowd in Lahan ', 'sub_title' => '', 'summary' => 'February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shah has produced cauliflowers of purple and yellow colours. Shah said he first saw such colourful cauliflowers when he was in foreign employment seven years ago. After returning home, he brought such cauliflower seeds from neighbour India and planted them in his field. The seeds are five times costlier than normal cauliflower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is now planning to expand his colourful cauliflower farms, after getting good response from the market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Because of its different color and taste, it is sold as soon as it reaches the market," said Shah, who is thinking of increasing the production in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Just on Monday, Shah said he sold 16 kgs of colourful cauliflowers at the rate of Rs 200 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, large number of people have been visiting his farm to see the rare cauliflowers. "Since there was widespread talk about this cauliflower everywhere, I came to see what it is really like. I am amazed to see it,” said Kusheshwar Yadav, a local head master. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19916', 'image' => '20240207120636_cauli-purp - Copy (2).jpg', 'article_date' => '2024-02-07 12:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20188', 'article_category_id' => '1', 'title' => 'Karnali Government Preparing for Intra-Province Air Service ', 'sub_title' => '', 'summary' => 'February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The province government is working with air service operators including the state-owned Nepal Airlines Corporation to operate domestic flights from Surkhet Airport in the provincial capital Birendranagar to the airports in the mountainous districts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accordingly, the NAC is collaborating with the provincial government to expand domestic air services from Surkhet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this regard, Chief Minister Rajkumar Sharma; NAC coordinator in Surkhet, Mahesh Kumar Marita; manager of the Engineering Department of NAC, Devendra Pun; and chief of Surkhet Civil Aviation Office, Rajan Dhungel made an onsite-inspection of the airport on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Minister Sharma said that the government will extend support for physical infrastructure and other requirements for the domestic flights. The provincial government is adding internal flights to facilitate the residents of Karnali Province, he said while adding that the provincial government has kept the improvement of Surkhet Airport as a top priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, NAC Coordinator Marita said that the service will be operated as soon as possible in consideration of the request made by the provincial government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19915', 'image' => '20240207111424_DB_Simkot-IMG-20240206.JPG - Copy.jpg', 'article_date' => '2024-02-07 11:13:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20187', 'article_category_id' => '1', 'title' => 'Hetauda Cement Industry Resumes Production', 'sub_title' => '', 'summary' => 'February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months. The industry had stopped production due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Naveen Kumar Karna, deputy general manager of the industry, said that it was difficult to purchase coal due to the financial crisis faced by the industry. He added that the industry started production after purchasing 1,800 metric tons of coal recently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry requires 100 metric tons of coal every day. Meanwhile, General Manager of the Industry, Basanta Raj Pandey, said that the industry will not be closed in the near future as there will be regular supply of coal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry having the capacity to produce 18,000 sacks of cement per day can now produce only 10,000 sacks due to the worn-out machines. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The cement industry has been producing cement commercially since 2043 BS. Currently, 150 people are directly employed by the industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">General Manager Pandey said negotiations are going on with the Ministry of Industry, Commerce and Supplies to install new equipment and provide subsidies for the purchase of necessary raw materials including coal. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19914', 'image' => '20240207094229_20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-07 09:42:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20205', 'article_category_id' => '1', 'title' => 'NEPSE Rises by 5.74 Points, Closing at 2096.38', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week, Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 8: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal increase of 5.74 points or 0.27%, closing at 2096.38 on the last trading day of the week, Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 317 scrips were traded on the NEPSE through 67,273 transactions. As many as 9,171,710 shares changed hands, resulting in a total turnover amount of Rs 3.21 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover amount with transactions of Rs 18 crores, closing at a market price of 689 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha (SAMAJ) gained 10% and hit the positive circuit for the day. Conversely, Siddhartha Growth Scheme 3 (SIGS3) lost the highest percentage, 9.97%, closing at a market price of Rs 8.49.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, nine sectors closed in the green territory, while the remaining landed in the red zone.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Hydropower Index saw the highest gain at 1.44%, while the Investment Index gained the least at 0.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, the Mutual Fund Index lost the highest percentage, 1%, while the Banking Index witnessed the lowest loss of 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19932', 'image' => '20240208034831_collage (6).jpg', 'article_date' => '2024-02-08 15:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20204', 'article_category_id' => '1', 'title' => 'Middle East Conflict Poses Risk of Consumer Prices Hike: OECD', 'sub_title' => '', 'summary' => 'February 8: The Organisation for Economic Cooperation and Development (OECD) has raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The Organisation for Economic Cooperation and Development </span><span style="font-family:"Arial Unicode MS","sans-serif"">(</span><span style="font-size:14.0pt">OECD</span><span style="font-family:"Arial Unicode MS","sans-serif"">) has </span><span style="font-size:14.0pt">raised its 2024 world economic growth forecast but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to a news report published by AFP, the OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the United States, the world's top economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But despite the positive outlook, global trade remains subdued, according to OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated, with strong growth in the United States and emerging markets offsetting slowdowns in European nations. But indicators suggest "some moderation" of growth, with higher interest rates affecting the credit and housing markets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"> While inflation is falling in major economies, "it is too soon to be sure that underlying price pressures are fully contained", the OECD added in an update to its annual economic outlook.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The OECD highlighted the threats from the war between Israel and Hamas in Gaza, and the attacks on ships in the Red Sea by Yemeni rebels who say they were targeting Israel-linked ships in solidarity with the Palestinians. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US and UK forces have responded with strikes against the Huthi rebels, who have since declared American and British interests to be legitimate targets as well.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"High geopolitical tensions are a significant near-term risk to activity and inflation, particularly if the conflict in the Middle East were to disrupt energy markets," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"A widening or escalation of the conflict could disrupt shipping more extensively than presently expected, intensify supply bottlenecks, and push up energy prices if traffic is interrupted in the key routes for the transport of oil and gas from the Middle East to Asia, Europe and the Americas."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Around 15 percent of global maritime trade volume passed through the Red Sea in 2022, according to the OECD.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The attacks have sharply raised shipping costs and lengthened delivery times of goods as companies have rerouted their vessels around the southern tip of Africa, increasing their journey by as much as 50 percent, it said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Production schedules have been disrupted in Europe, notably for automakers, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The attacks on ships on the Red sea are having an impact on trade. Freight rates have more than doubled since the end of last year," OECD chief economist Clare Lombardelli said at a news conference.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The increase in shipping costs, if persistent, could add 0.4 percentage points to consumer prices inflation after about a year, the OECD warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">According to AFP, </span></strong><span style="font-size:14.0pt">the organisation said monetary policy needs to "remain prudent" to ensure that inflationary pressure is "durably contained".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The US Federal Reserve, the European Central Bank and the Bank of England raised interest rates sharply in efforts to rein in consumer prices that rose after the Covid pandemic and jumped further after Russia's invasion of Ukraine.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Growth could also be weaker than projected if the lingering effects from past policy rate increases are stronger than expected," the OECD said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The three central banks have recently paused their rate-hike campaigns and have kept them at high levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But markets are hopeful that policymakers will soon begin to cut rates as inflation has slowed in major economies, though it remains above two-percent targets. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19931', 'image' => '20240208033953_inflationnnnnn.jpg', 'article_date' => '2024-02-08 15:39:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20202', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits of Banks Declining', 'sub_title' => '', 'summary' => 'February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 8: Despite the increase in deposits of banks and financial institutions, the share of fixed deposits has started to decline. After the banks reduced interest on fixed deposits, the portion of general savings have increased, while that of fixed deposits have started decline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, the banks had increased interest rates due to liquidity crisis. Due to this, the share of fixed deposits in the banks increased. However, Nepal Rastra Bank has said that the portion of fixed deposits has started to decline after the reduction in interest rates after liquidity situation eased in the current fiscal year (FY).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB, 60.3 percent of the total deposits with banks and financial institutions by mid-January last year were fixed deposits. But by mid-January this year, the share of fixed deposits has decreased to 59.9 percent. While fixed deposits have decreased, ordinary savings have increased. The share of ordinary savings increased from 25.6 percent in the previous year to 26.8 percent in the current year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Last year, banks offered higher interest rates to increase term deposits. In order to attract deposits, they also introduced a plan to give up to 10 times the initial deposit in 21 years. Since the beginning of the current year, banks have started reducing interest rates, so the share of fixed deposits has also started to decrease. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As of mid-January of the current fiscal year, banks and financial institutions have collected Rs 6130 billion in deposits and provided loans of Rs 5083 billion. During this period, deposits increased by 6.6 percent, while loans expanded by only 4 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the liquidity crisis eased, the Nepal Bankers Association decided to end the practice of determining interest through consensus since the beginning of the current fiscal year. This allowed the banks to fix the interest rate individually in the competitive market. As a result, the maximum interest rate of the commercial banks fell below 8 percent in mid-January.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of the NRB, banks are allowed to provide a maximum interest rate of 5 percentage points more on fixed deposits than the minimum interest rate on ordinary savings. There is a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, other than call deposits, cannot differ by more than five percentage points. Similarly, there is a provision that banks can give an additional 1 percent more interest on remittance compared to the normal deposits.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19929', 'image' => '20240208022611_Banks - Copy.jpg', 'article_date' => '2024-02-08 14:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20201', 'article_category_id' => '1', 'title' => 'Govt Preparing to Release Startup Enterprise Loan by Upcoming April-May', 'sub_title' => '', 'summary' => 'February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 8: The government is gearing up to provide loans to start-up enterprises at subsidized interest rates from upcoming month of Baishakh (mid-April to mid-May). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government had recently called eligible companies to submit applications for the startup enterprise loans. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three government agencies signed a memorandum of understanding on Wednesday to facilitate start-up loans. Following the agreement, the Industrial Enterprise Development Institute is preparing to begin disbursing loans for start-ups from upcoming April-May.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Industrial Enterprise Development Institute, Rastriya Banijya Bank and the Deposit and Credit Guarantee Fund signed the tripartite MoU for releasing the start-up enterprise loan by keeping the project as collateral.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Umesh Kumar Gupta, executive director of the institute, said the MoU has paved the way for disbursing the loans from April. He claimed that this program will be implemented in the current fiscal year if things go according to the plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government introduced the Startup Enterprise Loan Operation Procedure 2080 on January 25. After the implementation of the procedure, the institute issued a 21-day notice seeking proposals for the startup enterprises loans on February 2.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The government has been taking initiative to address the issue of youth migration by creating jobs in Nepal," said Gupta, "Since the government has already allocated the required budget, it is now possible to get loans for start-up enterprises from the current fiscal year."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Gupta, the start-ups will get the loans after a certain steps. In the first step, the start-ups have to submit a proposal to the institute. Secondly, a list of applicants will be prepared according to the proposal. Applicants will then be called for a presentation of their startup venture. An evaluation committee will evaluate their presentation. The committee will have representatives from the institute and experts in the related field. The presentation of selected startups will be 15 minutes. The committee will give marks based on the presentation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the third stage, the institute will rate the projects and then recommend to the Rastriya Banijya Bank to provide loan. The state-owned bank will provide loans to the startup enterprises if they meet the required score for credit rating.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has adopted a policy of providing a maximum loan of Rs 2.5 million to start-up enterprises at a subsidized interest rate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the new procedure, the bank will provide funds in one installment for loans up to Rs 0.5 million, 2 installments for loans up to Rs 1.5 million, and up to 3 installments for loans up to Rs 2.5 million. According to this procedure, a startup will get a concessional loan up to a maximum of Rs 2.5 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new procedure approved by the government has designated 16 sectors and enterprises eligible for the start-up enterprise loans provided that the enterprise should not have been registered more than seven years ago. The loan will be provided in the areas specified by the procedure and the loan period will be 5 years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the procedure, there is a provision that borrowers should start paying the principal and interest from the second year. The interest rate of such a loan will be 3 percent per annum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has allocated Rs 250 million for this program in the current fiscal year as well. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19928', 'image' => '20240208011240_startup.jpg', 'article_date' => '2024-02-08 13:11:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20200', 'article_category_id' => '1', 'title' => 'UN Chief says World in 'Age of Chaos' ', 'sub_title' => '', 'summary' => 'February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering "an age of chaos" with a deeply divided Security Council unable to address critical issues such as the Israel-Hamas war. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the war in Gaza entering its fifth month on Wednesday, Guterres warned that if the Israeli armed forces press on into the southern city of Rafah, it will "exponentially increase what is already a humanitarian nightmare with untold regional consequences." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli forces, in their campaign to destroy Hamas after its unprecedented attack on October 7, have relentlessly bombed the Gaza Strip and carried out a ground invasion, displacing over a million people southward. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"It is time for an immediate humanitarian ceasefire and the unconditional release of all hostages," Guterres said during a speech to the General Assembly presenting his 2024 priorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the speech, he called for changes to the Security Council and international financial system, among other reforms, touting his "Summit of the Future" in September as a critical venue to address dysfunction "deeper and more dangerous" than ever. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The United Nations Security Council -- the primary platform for questions of global peace -- is deadlocked by geopolitical fissures," said Guterres, a former Portuguese prime minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"This is not the first time the Council has been divided -- but it is the worst. Today's dysfunction is deeper and more dangerous." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that unlike during the Cold War, when "well-established mechanisms helped manage superpower relations," those mechanism are missing "in today's multipolar world." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Our world is entering in an age of chaos..., a dangerous and unpredictable free-for-all with total impunity," he warned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">His remarks come amid devastating conflicts in Ukraine, Sudan, the Middle East and elsewhere, with millions of people displaced by the fighting and in need of assistance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As conflicts proliferate, global humanitarian needs are at an all-time high, but funding is not keeping pace," Guterres said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against such a dark backdrop, Guterres encouraged world leaders to seize the opportunity of the "Summit of the Future," to be held in September in New York on the sidelines of the annual General Assembly to "shape multilateralism for years to come." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the heels of the Covid-19 pandemic, he called again for the development of an "emergency platform to improve the international response to complex global shocks." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Guterres, who has made addressing climate change a priority since taking office in 2017, reiterated that the crisis "remains the defining challenge of our time" and called for humanity to "make peace with the planet." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said "humanity has waged a war we can only lose: our war with nature. It is a crazy fight to pick." --- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19927', 'image' => '20240208121937_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-02-08 12:19:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20197', 'article_category_id' => '1', 'title' => 'IFRC, WWF Call for Global Action to Protect Nature, address Climate Crisis ', 'sub_title' => '', 'summary' => 'February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 8: In the wake of escalating climate change impacts and extreme weather events, particularly in the developing countries like Nepal, the International Federation of Red Cross and Red Crescent (IFRC) and the World Wildlife Fund (WWF) have stressed nature-based solutions to address the climate crisis for protecting nature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IFRC and WWF in Nepal informed that they were launching a strategic partnership with the theme “Working with Nature to Protect People.” This joint initiative aims to recognize the critical role of nature-based solutions in both mitigating and adapting to climate change while fostering resilience among communities on the front lines of the crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nature-based solutions, such as forest restoration, water source management, wetland rehabilitation, and river-bank plantations, have proven effective in Nepal, offering benefits beyond disaster risk reduction, they reminded, adding, “We reiterate that tackling climate crises requires protecting wildlife and biodiversity at an ecosystem scale, which is vital to create a future in which people and nature thrive together." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The collaboration between IFRC and WWF Nepal is an opportunity to make a difference at scale, and we call on partners to support our joint efforts,” remarked Country Representative of WWF Nepal, Dr. Ghana Shyam Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The partnership between IFRC and WWF will be leveraging their combined expertise and extensive networks to address the ongoing climate crisis, emerging risks, and societal challenges. Through local action and collaboration with government, partners, development agencies, donors, and private sectors, IFRC and WWF aim to integrate nature into climate adaptation strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This also includes engagement with authorities at all levels to provide policy advice and coordinate the initiatives as part of wider humanitarian and development efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Head of Delegation at IFRC, Azmat Ulla, observed, "Tackling climate crises requires protecting diversity and wildlife, and this is vital towards sustaining future generations. The IFRC and WWF collaboration is a great opportunity to make a difference and we call on partners to support.” – RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19924', 'image' => '20240208105941_wwf.jpg', 'article_date' => '2024-02-08 10:58:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20196', 'article_category_id' => '1', 'title' => 'House of Representatives Unanimously Approves Bill on Anti-Money Laundering', 'sub_title' => '', 'summary' => 'he meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 8: The meeting of the House of Representatives held on Wednesday unanimously approved the Bill on Anti-Money Laundering.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Dhanraj Gurung, had presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The endorsement has opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS .</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Criminal Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS will also undergo amendment with bill’s endorsement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the Bill.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">HoR will meet again on February 18 at 11:00 am. Speaker Devraj Ghimire informed that the parliamentarians could hold live question and answer session with the Prime Minister in the next meeting. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-08', 'modified' => '2024-02-08', 'keywords' => '', 'description' => '', 'sortorder' => '19923', 'image' => '20240208062053_collage (27).jpg', 'article_date' => '2024-02-08 06:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20195', 'article_category_id' => '1', 'title' => 'SC Invalidates Land Swap of Giribandhu Tea Estate ', 'sub_title' => '', 'summary' => 'February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Supreme Court has invalidated the exchange of land belonging to Giribandhu Tea Estate with a land of low value. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A constitutional bench comprising Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Prakashman Singh Raut, Sapana Pradhan Malla and Sushma Lata Mathema found that the land swap was against constitutional provision and illogical, thereby being subject to cancellation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the government had amended the law to allow the tea estate to swap the land but the SC concluded that the swap deal was beyond limitation and annulled it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Government of Nepal (through cabinet decision) had given permission to the Giribandhu Tea Estate Pvt to exchange 343-19-12 bighas of land on April 26, 2021, which is against Section 12 (c) of Land Act, 2021. So, the decision is subject to cancellation with certiorari," the SC order mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19922', 'image' => '20240207115411_Supreme Court.jpg', 'article_date' => '2024-02-07 23:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20193', 'article_category_id' => '1', 'title' => 'New Bill Proposes Criminalizing Contractors for Dilly-Dallying Construction Projects', 'sub_title' => '', 'summary' => 'February 7: From now on, the law will consider those who take up the responsibility for any development project and delay the work as criminals.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: From now on, the law will soon consider those who take up the responsibility for any development project and delay the work as criminals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A parliamentary committee has passed the Monitoring and Evaluation Bill introduced by the government to regulate the contractors at a time when the development work in the country is taking place at a snail’s pace.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill proposes criminalizing the employees and contractors who engage in fraudulent activities in construction projects. Those who are found involved in misappropriation will be punished according to the criminal law once the bill is passed by the parliament.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government had introduced the bill four years ago to make the monitoring and evaluation of the country's development works and plans more effective. The State Order and Good Governance Committee meeting held at Singh Durbar on Tuesday passed the bill recommending strict provisions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We have unanimously passed the bill which originated in the National Assembly to regulate monitoring and evaluation," Committee Chairman Ramhari Khatiwada said in a conversation with New Business Age, adding, “Now we can tame anyone including project chiefs, contractors, office chiefs, government or minister involved in dilly-dallying development works.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Khatiwada, fraudulent ativities has been considered a crime in the bill. The committee has passed the bill with the provision that the government agency can initiate action under the criminal code. According to Khatiwada, this bill will be presented in the upcoming session of parliament. So far, the state does not consider the delay in development and construction works as a crime.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the bill passed by the committee with amendments, there is a provision to monitor and evaluate the projects every six months. The bill has provision for regular monitoring and evaluation of the schemes run by all three levels of government. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Office of the Prime Minister and Council of Ministers and the National Planning Commission are considered as the highest bodies for monitoring and evaluation at all three levels. According to the provisions of the Bill, the National Planning Commission shall approve the periodical plans, master plans, annual plans, projects of national pride, national priority projects, transformative projects, important projects designated by the Government of Nepal, projects operated with foreign aid and projects operated with grants provided to the provinces and local levels and monitor and evaluate them in accordance with the prevailing laws.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill states that the monitoring and evaluation report of the province should be made available if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bill stipulates that rural municipalities and municipalities should regularly monitor and evaluate plans implemented at the local level. There is also a provision that the local level report should be provided if requested by the National Planning Commission.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This bill was introduced by the government four years ago but it could not move forward due to various reasons. This bill, which will be presented in the upcoming session of parliament, will go into the implementation stage after it is passed by the House of Representatives.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19920', 'image' => '20240207023004_Parliament.jpg', 'article_date' => '2024-02-07 14:29:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20192', 'article_category_id' => '1', 'title' => 'NRB’s Half-Yearly Review Depicts Positive Indicators of Economy', 'sub_title' => '', 'summary' => 'February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The half-yearly review of the current fiscal year 2080-81 BS (2023-24) by Nepal Rastra Bank (NRB) suggests positive indicators of the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the central bank's assessment, based on the six months' data ending in mid-January, there is an improvement in overall economic and financial indicators. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Remittance inflows increased by 25.3 percent to reach Rs 733.22 billion in the review period, compared to a 24.3 percent increase in the same period last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 207,970 and taking approval for renew entry stood at 135,435. In the previous year, such numbers were 275,643 and 142,548 respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The net transfer increased 24 percent to Rs 799.51 billion in the review period. Such a transfer had increased 22.7 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Balance of Payments (BOP) remained at a surplus of Rs 273.52 billion in the review period against a surplus of Rs 92.15 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gross foreign exchange reserves increased by 18.0 percent to Rs 1816.57 billion in mid-January 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deposits of banks and financial institutions rose by 6.6 percent and private sector credit increased 4 percent. On y-o-y basis, deposits increased 14.9 percent and private sector credit increased 4.9 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation moderated to 5.26 percent in mid-January 2024 compared to 7.26 percent a year ago. Food and beverage category inflation stood at 5.77 percent whereas non-food and service category inflation stood at 4.85 percent in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report state that the y-o-y price index of ghee and oil, vegetables, meat and fish and transportation sub-categories exhibited a downward trend in mid-January 2024. Additionally, price index of spices and sugar and sugar products also moderated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the review month, the y-o-y import price index, salary and wage rate index and the wholesale price index also moderated. These factors contributed to a moderated consumer price inflation </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Food and Beverage Category, y-o-y price index of ghee and oil, vegetable and meat and fish sub-category decreased by 13.07 percent, 1.04 percent and 0.06 percent respectively in the review month. The y-o-y price index of spices sub-category increased by 35.60 percent, cereal grains and their products 11.38 percent, pulses and legumes 11.14 percent, milk products and eggs 10.29 percent and fruit 10.15 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under the Non-Food and Services Category, y-o-y price index of transportation sub-category decreased by 1.62 percent in the review month. The y-o-y price index of recreation and culture subcategory increased by 12.84 percent, miscellaneous goods and services 9.73 percent, education 8.92 percent, furnishing and household equipment 5.18 percent and clothes and footwear 4.96 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain region stood at 5.76 percent, 4.78 percent, 5.40 percent and 6.57 percent respectively in the review month. Such inflation in these regions was 6.93 percent, 7.49 percent, 7.30 percent and 6.69 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The y-o-y wholesale price inflation stood at 3.36 percent in mid-January 2024 compared to 9.82 percent a year ago. The y-o-y wholesale price index of consumption goods, intermediate goods and capital goods increased 6.16 percent, 1.99 percent and 2.71 percent respectively. The y-o-y wholesale price index of construction material decreased 1.08 percent in the review month. The y-o-y salary and wage rate index increased 5.56 percent in mid-January 2024 compared to 10.27 percent a year ago. The y-o-y salary index and wage rate index increased 1.05 and 6.92 percent respectively in the review month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Imports fell by 3.1 percent, exports by 7.2 percent and trade deficit by 2.6 percent. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19919', 'image' => '20240207014952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-07 13:49:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20191', 'article_category_id' => '1', 'title' => 'No Party Interested in Buying China-made Aircraft of NAC', 'sub_title' => '', 'summary' => 'February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 7: Nepal Airlines Corporation (NAC), which invited tender bids for the sale of five Chinese aircraft on December 21, has issued the tender bids again after being unable to find any buyer. The state-owned NAC called for tender bids again on Tuesday for the sale of its Chinese airplanes which have been grounded since last year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last year too, the NAC had sought proposals for leasing the Chinese aircraft. After failing to find any company interested to lease the aircraft, the NAC started the process to sell those aircraft. The NAC had to call for tender bids for the second time after no one showed interest in buying the aircraft in the first tender call.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NAC Spokesperson Ramesh Paudel informed New Business Age that the tender was issued again after they did not receive any proposal within the specified period. Applicants interested in purchasing the grounded Chinese aircraft need to submit proposals to the NAC by February <span style="font-family:"Arial Unicode MS","sans-serif"">21.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal welcomed the first lot of Chinese aircraft about ten years ago in April/May 2014<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>The government received two Chinese aircraft with a grant from China and purchased four of them with a loan. The NAC received MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft each under the grant of the Chinese government. Another MA-<span style="font-family:"Arial Unicode MS","sans-serif"">60</span> and three Y-<span style="font-family:"Arial Unicode MS","sans-serif"">12</span>E aircraft were purchased on loan at subsidized interest rate. The government purchased the aircraft under an agreement to repay the loan within <span style="font-family:"Arial Unicode MS","sans-serif"">20</span> years including a grace period of seven years. The government spent more than Rs <span style="font-family:"Arial Unicode MS","sans-serif"">4</span> billion in several installments for the purchase of these aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Culture, Tourism and Civil Aviation Sudan Kirati revealed during a recent event that the government has to pay Rs <span style="font-family:"Arial Unicode MS","sans-serif"">200</span> million a year for insurance and parking fee for those grounded aircraft. "It is not possible to find out how and why the Chinese aircraft were purchased," he said, adding, “How much more debt shall we pay?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC had to start paying installments of the loan from October/November <span style="font-family:"Arial Unicode MS","sans-serif"">20</span>21. One year later, the NAC started the evaluation process of the aircraft in November/December <span style="font-family:"Arial Unicode MS","sans-serif"">2022</span> for the sale of the aircraft. At that time, the Ministry of Finance had given the option of either selling or renting the aircraft. However, no one was interested in hiring those aircraft. No one is either interested in purchasing the aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the NAC also issued international tender bids on Tuesday to take two narrow-body aircraft on wet lease under which the aircraft, crew, maintenance and insurance (ACMI) will be managed by the interested party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NAC, which has been providing air services with two wide-body and two narrow-body aircraft, has invited tender bids to take two more narrow-body aircraft on wet lease. According to the press statement issued by the NAC on Tuesday, the flag-carrier of Nepal started the process for acquiring more aircraft because it has not been able to meet the demand for flights with its existing narrow-body aircraft.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the NAC, currently two wide-body aircraft are being used for flights to Japan, Sydney and Korea. "In other sectors, two narrow-body aircraft have not been able to handle the demand of flight pressure," the statement reads, adding, "There is a plan to increase the income by adding flights to New Delhi, Dubai, Doha, Malaysia and other sectors and also to other destinations from Bhairahawa."</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19918', 'image' => '20240207013823_20210401035949_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2024-02-07 13:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20190', 'article_category_id' => '1', 'title' => ' Upgrading Runway of Meghauli Airport Begins', 'sub_title' => '', 'summary' => 'February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The authorities concerned have started upgrading the runway of Meghauli Airport in west Chitwan. After upgrading, the runway will be 700 meters long and 20 meters wide. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Meghauli Airport project Chandramani Sapkota shared that the grass-field runway is being upgraded to high-level graveled runway. The upgrading work of the runway is expected to cost of around Rs 12 million. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has been using the air strip for training soldiers for para-jumping. Likewise, hotels in Meghauli charter aircraft and helicopters to bring in their guests. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The airport remains closed for regular flights since 2067 BS after the government adopted a policy not to operate hotels inside Chitwan National Park. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Meghauli Airport is spread over 23 bigahas of land is 24 km south from Bharatpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19917', 'image' => '20240207010555_20220905115923_meghauli.jpg', 'article_date' => '2024-02-07 13:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20189', 'article_category_id' => '1', 'title' => 'Colourful Cauliflowers Draw Huge Crowd in Lahan ', 'sub_title' => '', 'summary' => 'February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Traditionally cauliflowers are white in colour. But Ratan Shah, a farmer of Lahan municipality-24, has grown cauliflower of different colors with a different taste, thereby drawing huge crowd along with good price for his produce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shah has produced cauliflowers of purple and yellow colours. Shah said he first saw such colourful cauliflowers when he was in foreign employment seven years ago. After returning home, he brought such cauliflower seeds from neighbour India and planted them in his field. The seeds are five times costlier than normal cauliflower. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is now planning to expand his colourful cauliflower farms, after getting good response from the market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Because of its different color and taste, it is sold as soon as it reaches the market," said Shah, who is thinking of increasing the production in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Just on Monday, Shah said he sold 16 kgs of colourful cauliflowers at the rate of Rs 200 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, large number of people have been visiting his farm to see the rare cauliflowers. "Since there was widespread talk about this cauliflower everywhere, I came to see what it is really like. I am amazed to see it,” said Kusheshwar Yadav, a local head master. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19916', 'image' => '20240207120636_cauli-purp - Copy (2).jpg', 'article_date' => '2024-02-07 12:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20188', 'article_category_id' => '1', 'title' => 'Karnali Government Preparing for Intra-Province Air Service ', 'sub_title' => '', 'summary' => 'February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: The Karnali Province government has started preparations for internal air transport to connect all the districts of the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The province government is working with air service operators including the state-owned Nepal Airlines Corporation to operate domestic flights from Surkhet Airport in the provincial capital Birendranagar to the airports in the mountainous districts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accordingly, the NAC is collaborating with the provincial government to expand domestic air services from Surkhet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this regard, Chief Minister Rajkumar Sharma; NAC coordinator in Surkhet, Mahesh Kumar Marita; manager of the Engineering Department of NAC, Devendra Pun; and chief of Surkhet Civil Aviation Office, Rajan Dhungel made an onsite-inspection of the airport on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief Minister Sharma said that the government will extend support for physical infrastructure and other requirements for the domestic flights. The provincial government is adding internal flights to facilitate the residents of Karnali Province, he said while adding that the provincial government has kept the improvement of Surkhet Airport as a top priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, NAC Coordinator Marita said that the service will be operated as soon as possible in consideration of the request made by the provincial government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19915', 'image' => '20240207111424_DB_Simkot-IMG-20240206.JPG - Copy.jpg', 'article_date' => '2024-02-07 11:13:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20187', 'article_category_id' => '1', 'title' => 'Hetauda Cement Industry Resumes Production', 'sub_title' => '', 'summary' => 'February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">February 7: Hetauda Cement Industry has resumed production of cement after a gap of three and a half months. The industry had stopped production due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Naveen Kumar Karna, deputy general manager of the industry, said that it was difficult to purchase coal due to the financial crisis faced by the industry. He added that the industry started production after purchasing 1,800 metric tons of coal recently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry requires 100 metric tons of coal every day. Meanwhile, General Manager of the Industry, Basanta Raj Pandey, said that the industry will not be closed in the near future as there will be regular supply of coal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The industry having the capacity to produce 18,000 sacks of cement per day can now produce only 10,000 sacks due to the worn-out machines. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The cement industry has been producing cement commercially since 2043 BS. Currently, 150 people are directly employed by the industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">General Manager Pandey said negotiations are going on with the Ministry of Industry, Commerce and Supplies to install new equipment and provide subsidies for the purchase of necessary raw materials including coal. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-07', 'modified' => '2024-02-07', 'keywords' => '', 'description' => '', 'sortorder' => '19914', 'image' => '20240207094229_20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-07 09:42:00', '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
