January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal…
January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal…
In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of…
The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week,…
January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in…
January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17.…
January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country…
January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February 1 to 4.…
January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year…
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January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the…
Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from…
January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. …
January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate…
January 30: The Office of the Auditor General has been running under the acting auditor general for eight months.…
January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and…
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The then royal government in 2059 BS decided to close it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study report highlighted the lack of market management, lack of technology advancement as per the need of time, the power outage issue, overstaffing and the lack of managerial efficiency among the factors leading to the closure of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states about the possibility to reuse some factory structures and machinery after maintenance. It is stated that NA Welfare Fund has sufficient budget to operate the industry, adding that most of raw materials needed for the factory are available within the country. According to the report, the factory will have no problem for market if revived as the NA will be one of the major potential consumers with NA personnel being likely users of garments to be produced by the industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The factory has 166 ropanis of land under its ownership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the revival of the industry is needed to contribute to the national industrial development and to contribute to gross domestic product, to send a positive message to the world market, to boost up self-sufficiency of the nation, and for import substitution and creation of employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study taskforce has also proposed the outline for re-operation of the industry. The proposed plan along with a three-year work plan has set the target of manufacturing approximately 2.6 million metres of cloth. </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"">A policy decision regarding this would be made in the current fiscal year and the industry would be handed over to the Nepalese Army, which will prepare the DPR, and select and purchase new machinery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it is stated in the proposed outline that test production would be started in the coming fiscal year by completing the construction of the infrastructure and purchase of machine and equipment. It is stated that the machines would be added, the industry's capacity expanded and regular production started by conducting the feasibility study for the operation of Butwal Spinning Mills and managing the raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The preliminary cost estimate for re-operating the industry is Rs 1.93 billion and the annual operation cost is expected to be around Rs 780 million. The taskforce has concluded that the industry will be in a position to make profit, replacing the investment cost, after nine years of its re-operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce has also proposed for policy and legal support from the government for the re-operation of the industry. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19854', 'image' => '20240131103322_20220613074107_Industries.jpg', 'article_date' => '2024-01-31 22:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20125', 'article_category_id' => '1', 'title' => 'Coca-Cola Celebrates 50 Years in Nepal', 'sub_title' => '', 'summary' => 'In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the years, Coca-Cola has been a witness to countless celebrations, from family gatherings to national events, creating lasting memories and fostering meaningful connections among people. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company's commitment to Nepal is further solidified by the presence of two manufacturing plants—Bottlers Nepal Limited (BNL) in Kathmandu and Bottlers Nepal Terai Limited (BNTL) in Chitwan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a widespread network of over 1 Lakh retailer outlets nationwide, Coca-Cola directly and indirectly employs more than 1000 individuals, impacting the lives of over 5000 people.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a significant foreign investor, Coca-Cola has played a crucial role in Nepal's socio-economic growth. The company has been a pillar of support during challenging times, launching initiatives such as "Pheri Uthne Chha Nepal" after the 2015 earthquake and the "Stop the Spread" campaign during the COVID-19 pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Beyond business, Coca-Cola's engagement with the Nepali community extends to various impactful initiatives. The "Saksham" program, in collaboration with Atelier Platform Pvt. Ltd. Pvt Ltd, has empowered over 2000 women, fostering economic independence and positive change in local communities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The "Youth Dialogue" program, conducted in partnership with Glocal Pvt Ltd, focuses on youth development and empowerment through collaborations with colleges and universities across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the annual Dashain festival, Coca-Cola's campaigns, such as the recent "Sambandha Utsav," aim to bring people together, celebrate relationships, and spread joy through rewards and recognition schemes for consumers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, The Coca-Cola Foundation, with a global mission to make a positive impact, supports transformative ideas and institutions in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The foundation's focus areas include sustainable access to safe water, building climate resilience, promoting a circular economy, economic empowerment, and disaster response. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Collaborating with renowned international and local NGOs, such as WaterAid, WWF, Maiti Nepal, WHR, Creasion, Rotary Club of Nagarjun, Centre for Entrepreneurship and Innovation, Women for Human Rights, and CARE Nepal, the foundation actively contributes to community well-being.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coca-Cola Foundation has been an unwavering supporter of Nepal's environmental conservation efforts, actively participating in the Mountain Clean-Up Campaign initiated by the Nepali Army for the past three years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a diverse portfolio that includes iconic brands like Coca-Cola, Fanta, Sprite, Kinley, and Charged, the company continues to offer Nepali consumers a range of refreshing and hydrating beverage options. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19852', 'image' => '20240131042556_collage (2).jpg', 'article_date' => '2024-01-31 16:24:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20124', 'article_category_id' => '1', 'title' => 'NEPSE Registers a Loss of 21.67 Points, Closing at 2097.63', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 313 scrips were traded through 95,645 transactions. As many as 14,777,120 scrips changed hands, resulting in a total turnover amount of Rs 5.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the transactions with a total turnover of Rs 63 crores, closing at a market price of Rs 714 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samling Power Company Limited (SPC) witnessed the highest gain of 9.87%, closing at a market price of Rs 690 per share. On the contrary, Menchhiyam Hydropower Limited (MCHL) suffered the highest loss at 5.87%, closing at a market price of Rs 309 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red territory except for Manufacturing and Processing. The Hotels and Tourism Index lost the most at 2.04%, while the Mutual Fund sector incurred the minimal loss of 0.02%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19851', 'image' => '20240131040441_collage (1).jpg', 'article_date' => '2024-01-31 16:03:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20123', 'article_category_id' => '1', 'title' => 'Construction Work of Third Section of Jayanagar-Bardibas Railway Project Picking Up Pace', 'sub_title' => '', 'summary' => 'January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari. Nepal Railway Company started the 17 km long third section of this project after the completion of the first and second sections from Jayanagar to Kurtha in Dhanusha and from Kurtha to Bhangaha in Mahottari respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The project which is 69 km in total was divided into three sections. The first section is 35 km lomg from Jayanagar to Kurtha and the second is 17 km from Kurtha to Bhangaha. After completing the work of the two sections and putting the 52 km railway track into operation, the company is now focused on completing the third and the final section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">General Manager of Nepal Railway Company Niranjan Jha says that they are in the final stage of distributing compensation for the land required to build the 17 km track.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Compensation distribution of the third section is in the final stage. As soon as the compensation is distributed, the construction work will proceed,” said Jha. The company said that the government has already provided compensation for more than 80 percent of the 123 bigha land required for this section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The land acquired by giving compensation in this section is currently being surveyed. According to Jha, a joint team of technicians from Nepal and India is currently conducting a survey in the third section of this project, which is being built with the help of the Government of India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The work of expanding the railway service in this section started as per the bilateral agreement reached during the visit of the then President Dr. Ram Baran Yadav to India in 2010. As per the agreement, a 35 km train service from Jayanagar to Kurtha was put into operation after the joint inauguration of the first section of the railway project by then Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi on 25 March 2022.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the Jayanagar Bardibas railway project is being done by the Indian government-owned Econ Company. The Government of Nepal has provided land for railway track. As per the agreement, the Government of Nepal has been providing compensation for the land, while the construction work is being done by the Government of India. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19850', 'image' => '20240131032607_20200816022943_1597524353.Clipboard01.jpg', 'article_date' => '2024-01-31 15:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20121', 'article_category_id' => '1', 'title' => 'Nepal now has 17 Five-Star Hotels ', 'sub_title' => '', 'summary' => 'January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. The Department of Tourism has issued license to one deluxe five-star level hotel and other 16 five-star hotels in the country. Hotels get a star-star rating from the Department of Tourism based on their infrastructure, services, and facilities. The hotels should apply for the five-star rating with the department. Some of the hotels operating in the country are also preparing to submit applications to the department for the five-star rating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Some hotels are under construction. The department estimates that the number of five-star hotels will increase within a short span.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Budhanilkanth Heritage Limited, under India's hospitality chain brand 'Lemon Tree Premier', is also planning to apply for a five-star rating. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the department, the total number of rooms in five-star deluxe and similar-level hotels is 2,346 in Nepal. According to the rating done by the department, there is only one five-star deluxe hotel. Hotel Mechi Crown, which is operating in Dhulabari, Jhapa, is the only five-star deluxe hotel in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Soalte Hotel, Hotel Annapurna, Taragaon Regency Hotel Limited (Hyatt), The Mall Hotel Pvt Ltd, Hotel Shangrila, Hotel Everest, Hotel Aloft, Hyatt Place, Hotel Lhasa International, Akama Hotel in Kathmandu are among the five-star category hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Tiger One Pvt Ltd in Rupandehi, Soalte Westend in Nepalganj in Banke, Hotel Central Plaza in Banke, Hotel The Kingsbury in Jhapa, Ichha Hotel in Simra in Bara have been classified as five-star hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Most of the five-star hotels are centered in the federal capital, Kathmandu. According to the latest data of the department, there are still very few five-star hotels operating outside the federal capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Also, the number of hotels built in recent times is higher in Kathmandu. Among the hotels that have been added recently and received a five-star rating license from the department are Hyatt Place, Akama, Aloft, and Hotel Lhasa International.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">President of Hotel Association Nepal (HAN) Binayak Shah believes that the number of five-star hotels will increase if the hotels that meet the standards set by the government apply to the department for a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Shah, the hotels are based in Kathmandu due to their commercial plans and strategy.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19849', 'image' => '20240131021053_Hotel.jpg', 'article_date' => '2024-01-31 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20122', 'article_category_id' => '1', 'title' => ' NPC Seeks Recommendations from Development Partners for 16th Plan and LDC Graduation ', 'sub_title' => '', 'summary' => 'January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Officials from the United Nations, World Bank, International Monetary Fund as well as ambassadors and representatives from different countries provided their recommendations during the discussion held under the chairmanship of NPC Vice-Chair Dr Min Bahadur Shrestha on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The development partners attending the meeting stressed the need to establish coherent linkage between the 16th plan and LDC graduation strategy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC Vice-Chair Dr Shrestha said constructive recommendations received from the development partners would be included in the 16th plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NPC had held discussion with newly-appointed members of the National Development Council regarding the 16th plan. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19848', 'image' => '20240131030928_sixteen plan.jpg', 'article_date' => '2024-01-31 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20120', 'article_category_id' => '1', 'title' => 'Buildcon Exhibition to Kick off on February 1', 'sub_title' => '', 'summary' => 'January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February 1 to 4. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February <span style="font-family:"Arial Unicode MS","sans-serif"">1</span> to 4<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>This is the ninth edition of the exhibition jointly organized by Media Space Solutions Pvt Ltd and FutureX Trade Fair and Events Pvt Ltd. Visitors can get information about the products related to the construction business and the latest technology in this field at the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organizers, the aim of the expo is to make materials and technology produced in Nepal accessible in the international market. They said that the exhibition will feture more than <span style="font-family:"Arial Unicode MS","sans-serif"">150</span> stalls of over <span style="font-family:"Arial Unicode MS","sans-serif"">300</span> brands from different countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The exhibition will showcase construction materials, construction machinery, UPVC window machinery, prefab structures, UPVC profiles and architectural hardware. Similarly, bathroom fittings, pipes, tiles and sanitary wares, roofing, pre-engineering buildings, concrete block machinery, aluminum machinery panels will also be displayed in the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The organizers expect the participation of architects, engineers, contractors, builders, interior designers, people who want to build a house and common citizens in this exhibition. Kazaria Tiles is the title sponsor of the exhibition while Volga and Jindal Steel are co-sponsors. Arrangements have been made for free entry for the visitors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19847', 'image' => '20240131015504_build.jpg', 'article_date' => '2024-01-31 13:54:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20119', 'article_category_id' => '1', 'title' => 'Production of Black Cardamom Drops by 50 Percent', 'sub_title' => '', 'summary' => 'January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).', 'content' => '<p><span style="font-size:16px">January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).</span></p> <p><span style="font-size:16px">During the corresponding period of last year, the country exported a total of 46,73,224 kg of black cardamom worth Rs 3.74 billion.</span></p> <p><span style="font-size:16px">Compared to the same period last year, black cardamom exports declined by 38.65 percent in terms of quantity but it increased by 4.48 percent in terms of value.</span></p> <p><span style="font-size:16px">According to the data of the Department of Customs, 100 percent of the black cardamom were exported to India in the current fiscal year.</span></p> <p><span style="font-size:16px">Nirmal Bhattarai, president of the Nepal Black Cardamom Traders Association, said that the export of cardamom declined this year because the production of black cardamom decreased by 50 percent this year compared to last year.</span></p> <p><span style="font-size:16px">He said that although the quantity of export has decreased, it has fetched better price than last year.</span></p> <p><span style="font-size:16px">"Although the export volume has decreased, the income from export of black cardamom has increased due to the increase in the price of black cardamom," he said, adding, "This year, it did not rain at the right time."</span></p> <p><span style="font-size:16px">Due to lack of timely rain, many cardamom plants dried up this year during flowering season.</span></p> <p><span style="font-size:16px">Similarly, the farmers also did not put much effort for production as they did not get good price last year.</span></p> <p><span style="font-size:16px">Now the price of normal quality cardamom is Rs 77,000 per 40 kg and the price of jumbo jet (JJ) quality is Rs 80,000 per 40 kg.</span></p> <p><span style="font-size:16px">Bhattarai said that the production of black cardamom was 8,000 metric tons last year which is estimated to drop to 4,500 metric tons this year. At present, cardamom is cultivated commercially in 43 districts of Nepal although it can be cultivated in 53 districts.</span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19846', 'image' => '20240131124328_BlackCardamom.jpg', 'article_date' => '2024-01-31 12:42:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20118', 'article_category_id' => '1', 'title' => 'Biting Cold Cripples Life in Khumbu Area as Hotels and Schools Remain Closed', 'sub_title' => 'Khumbu Region Wears a Deserted Look as Locals Descend to Warmer Areas to Avoid Cold', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: Most of the businessmen and locals of Khumbu, a major tourism hub in the Himalayan region, have left the area to ward off the chilling cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel owners, who are busy during the tourist season, have also started leaving the Khumbu area to escape the harsh winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to a local Damu Sherpa, around 70 percent of the businessmen and general public in the area have left Khumbu region. Most of them go to Kathmandu while some to India's Buddhagaya for pilgrimage during winter. Other descend to warmer places during winter.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Toya Shrestha of Lukla said the Khumbu area has turned deserted with the exit of most of the businessmen and locals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the airport, hotels/ and odges, camping sites and sight-seeing places of Khumbu, which used to be crowded with tourists, are now deserted during winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lamakaji Sherpa of Namche said that Namche, Gokyo, Kalapathar, Everest base camp and other places known as the gateway to Mt. Everest have also become deserted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although some hotels are still open, the life of businessmen is becoming difficult. According to the Civil Aviation Authority of Nepal (CAAN)’s branch office in Lukla, there are only five to six flights per day in Lukla, while there used to be more than 100 flights daily during the peak season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to its geographical remoteness and high mountainous area, people can no longer stay in this area during the winter months. A local informed that they live in this region only for six months in a year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in cold, a number of people shifting to Salleri, the headquarters of the mountainous district Solukhumbu, has increased. From children to the elderly, people have started setting fire on the streets to avoid the cold. Dawa Sherpa of Salleri said that the cold has especially affected the elderly and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nawaraj Parajuli of the Meteorological Centre, Salleri, said the temperature in Salleri has been steadily decreasing for the past one week. Salleri recorded a temperature of minus two degrees Celsius on Tuesday, he said. According to him, the temperature in the district is the lowest this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Life in the upper parts of the district has been further affected by the cold. Angfurwa Sherpa, a local, said that the cold has crippled daily life in the mountainous areas of Namche, Lukla and Fakding. There has been a problem in water supply in Khumbu area of the district as the water has frozen in the pipe due to cold. Drinking water supply has been affected in the Sagarmatha region with water pipes freezing due to extreme cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nuru Sherpa, a local, said that the supply of drinking water has been stopped in various parts of Khumbu as the frozen water did not melt even during in the afternoon.</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"">"In Khumbu, even the edible oil freezes. It melts in presence of the sun. The water stored inside the house does not melt throughout the day if there is no sun. The situation here is different from what you think. Life is difficult. That is why most of the people leave Khumbu. Only a few of us are left in the villages." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the locals, the temperature in the upper parts of the district has dropped to minus 17 degrees Celsius. The cold has affected development works as well as other daily activities, while the movement of people in the villages is decreasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lhakpa Sherpa, a teacher at PK Secondary School, Loding, said that people are compelled to spend time by lighting fire. He added that the schools are closed. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19845', 'image' => '20240131112418_258482_218714068152324_7011012_o.jpg', 'article_date' => '2024-01-31 11:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20117', 'article_category_id' => '1', 'title' => 'IMF Lifts Global Growth Forecast Citing Unexpected 'Resilience'', 'sub_title' => '', 'summary' => 'January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.<br /> The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International Monetary Fund's previous forecast in October.<br /> "We had simultaneously less inflation and more growth," IMF chief economist Pierre-Olivier Gourinchas told reporters ahead of the report's publication.<br /> "It's not just a US story. There was a lot of resilience in many, many parts of the world in the last year and going into 2024," he said, highlighting countries including China, Russia, Brazil and India.<br /> Despite the upgrade, global growth is predicted to remain below its recent historical average of 3.8 percent this year and next due to continued impacts of elevated interest rates, the withdrawal of pandemic-related government support, and persistently low levels of productivity.<br /> Among the Group of Seven (G7) advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.<br /> The IMF's overall inflation outlook remained unchanged at 5.8 percent for 2024, but that masks a significant underlying shift between richer and poorer countries.<br /> Inflation in advanced economies is now forecast to be 2.6 percent in 2024, down 0.4 percentage points from October, while emerging and developing economies are expected to hit an annual inflation rate of 8.1 percent, up 0.3 percentage points.<br /> Much of the increase can be attributed to ongoing trouble in Argentina, where consumer price increases exceeded 200 percent last year amid an ongoing economic crisis.<br /> <strong>US, China lift growth</strong><br /> The United States and China, the world's two largest economies, both saw significant upgrades to their growth outlook for 2024, putting them on track for a less substantial slowdown than the IMF previously anticipated.<br /> The IMF now expects the US economy to grow by 2.1 percent in 2024 -- an election year in which President Joe Biden is seeking a second term -- down slightly from an estimated 2.5 percent in 2023.<br /> This is largely due to the "statistical carryover effects from the stronger-than-expected growth outcome for 2023," the IMF said.<br /> China's economy is meanwhile on track to hit 4.6 percent growth this year, down from 5.2 percent last year.<br /> The better-than-expected growth figures are down to property sector "difficulties" having a less severe impact than the IMF had anticipated, and also because of the "significant fiscal support coming from the authorities," Gourinchas said.<br /> An ongoing bright spot in the global economy continues to be India, which the IMF now expects to grow by 6.5 percent this year -- up 0.2 percentage points from October -- following an estimated growth rate of 6.7 percent in 2023.<br /> The Fund also increased the growth prospects for Russia, Iran and Brazil for the year ahead.<br /> <strong>Challenges remain in Europe</strong><br /> While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."<br /> Germany is once again set to be the slowest-growing G7 economy, expanding by just 0.5 percent this year after contracting by an estimated 0.3 percent in 2023.<br /> The United Kingdom, France and Italy are all also expected to see growth of 1.0 percent or less this year, while Spain's economy is forecast to fare slightly better, growing by 1.5 percent.<br /> The tepid euro area growth reflects "weak consumer sentiment, the lingering effects of high energy prices, and weakness in interest-rate-sensitive manufacturing and business investment," the IMF noted in the WEO report.<br /> Despite some challenging forecasts, the overall picture in 2024 looks set to be less gloomy for many countries than it was in 2024: Every country cited in the WEO report save Argentina is set to have positive growth this year.<br /> This is an improvement from 2023, when four out of the 30 economies cited in the report are estimated to have contracted, according to the IMF. -- AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19844', 'image' => '20240131105230_iiii.jpg', 'article_date' => '2024-01-31 10:51:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20116', 'article_category_id' => '1', 'title' => 'Loan Shark Victims Launch 'March for Justice'', 'sub_title' => '', 'summary' => 'Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 31: Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Organized by the Usury Victims Peasants Workers Struggle Committee, the participants, totaling 50 individuals from Jhapa, Sunsari, Siraha, and Saptari districts, have commenced a 15-day journey on foot towards Kathmandu, equipped with arrangements of food and shelter.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Half of the participants are women, reflecting the diverse impact of usury on the community. Simultaneously, another group of victims from Mahendranagar in the western part of the country has also begun their march for justice. The two groups plan to converge in Chitwan and continue their joint march towards Kathmandu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Awadesh Kushwaha, the Committee's Central Chairperson, launched the commencement of the march on Martyrs Day, presenting a six-point demand to the government. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The demands include cancellation of all fraudulent documents associated with usury, revocation of property rights transferred to exploitative lenders, and formulation of stringent laws to address financial crimes related to usury.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other demands include establishment of a high-powered judicial commission, opening new applications for the record-keeping of usury victims, arrest of exploitative moneylenders, and investigation of unilaterally verified usury-related deeds at the local level. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Kushwaha emphasized the urgency of government attention to the victims' demands. He warned that they would not leave the street until their demands were addressed. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19843', 'image' => '20240131061842_collage (19).jpg', 'article_date' => '2024-01-31 06:17:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20115', 'article_category_id' => '1', 'title' => 'Nepal Makes Slight Improvement in Corruption Perceptions Index', 'sub_title' => '', 'summary' => 'January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, it was ranked in the 110th position with a score of 34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the assessment of 180 countries in the world, Denmark is in the first position with a score of 90 indicating the lowest corruption followed by Finland in the second position, New Zealand in the third, Norway in the fourth and Singapore in the fifth. </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"">Sweden, Switzerland, the Netherlands, Germany and Luxemburg complete the top ten least corrupt nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other end of the table, Somalia is ranked 180th indicating the highest level of corruption while Venezuela, Syria, South Sudan and Yemen also fall on the bottom end of the table. Nepal's two closest neighbours India ranked 93rd with a score of 39 and China 76th with a score of 42. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was based on analysis of data from the World Bank, World Economic Forum and other organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index is calculated using data from 13 external sources. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to TI, its 29th annual corruption perceptions index assess how countries have responded to corruption over time, reviewing progress and failures over the last decade and beyond. It is specifically focused on how weakening justice systems contribute to a lack of accountability of public officials, thereby allowing corruption to thrive. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that over two-third countries' score is below 50 out of 100, strongly indicating that they have serious corruption problems. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19842', 'image' => '20240130043343_collage (32).jpg', 'article_date' => '2024-01-30 16:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20114', 'article_category_id' => '1', 'title' => 'Government’s Unstable Policy a Deterrent in Developing Startup Ecosystem in the Country', 'sub_title' => '', 'summary' => 'January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise. Questions are being raised about the government’s commitment to developing the startup ecosystem after the introduction of a new procedure that is likely to disrupt the concessional loans under the startup programme in Nepal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About a year ago, the government had initiated the process of distributing subsidized loan for startups by calling for applications to provide concessional loans to 100 start-up enterprises. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The startup entrepreneurs, who were in the final stage of obtaining concessional loans, have been disappointed after the government introduced the Startup Enterprise Loan Operation Procedure 2080 as the new procedure contradicts the process they have fulfilled so far. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">When the Department of Industries asked for applications for start-up loans, it received a total of 382 applications. The government had allocated Rs 250 million to provide concessional loans to 100 startup enterprises selected from among those applicants. However, the budget has been frozen as the new procedure has changed the agency that executes startup loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A total of 169 startup enterprises that have reached the stage of further evaluation will not get loans through the Department of Industries anymore.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, the government had issued the 'Startup Business Loan Disbursement Procedure 2079' on February 22 last year. The procedure assigned the responsibility of implementing the concessional loan program to the Department of Industries. Following the same procedure, the department had asked for applications with a policy of providing concessional loans up to Rs 2.5 million per startup. Less than a year later, the government approved the Start-up Enterprise Loan Operation Procedure 2080 on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Now, the Industrial Business Development Foundation will do the work of facilitating loans to start-up enterprises, seeking for applications. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the government has introduced a policy of providing subsidizing loan to help startup enterprises, not a single entity has been able to benefit from the government's announcement to develop the startup ecosystem due to its instable policy.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Jeevlal Bhusal, Joint Secretary of the Ministry of Industry, Commerce and Supplies, informed that the Startup Enterprise Loan Operation Procedure 2080 will now be implemented by the Industrial Business Development Foundation. "The Department of Industries is not a body with expertise in this regard," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that no further process will be carried out regarding the application submitted to the Industry Department last year. "Old applicants (who have submitted their applications to the department) can apply again," said Bhusal, "Since last year's budget has been frozen, it cannot be provided to the startups." </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new procedure approved by the government has designated 16 sectors and enterprises as startups. It is said that the loan will be provided in the areas specified by the procedure and the loan period will be 5 years. 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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has allocated Rs 250 million for this program in the current fiscal year as well. Bhusal claimed that the program will be implemented this year. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19841', 'image' => '20240130031058_startup.jpg', 'article_date' => '2024-01-30 15:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20112', 'article_category_id' => '1', 'title' => 'Office of the Auditor General without Leadership for Last Eight Months', 'sub_title' => 'Government Dilly-Dallying Appointment of Auditor General', 'summary' => 'January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. The post of Auditor General has remained vacant ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement on Friday due to the age limit. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This clearly shows that the government is hesitating to appoint the Auditor General. Due to the lack of leadership, the office has not been able to formulate a new strategy while the body responsible to monitor the government’s finances has not been able to settle arrears worth billions of rupees.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the constitutional provisions, the term of the Auditor General is 6 years.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the beginning of the current fiscal year, the Secretariat of the Constitutional Council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General. 15 people have applied for the post of Auditor General. Among those applying to become the Auditor General who will serve a 6-year term are Acting Auditor General Kafle, who recently went on compulsory retirement, former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Toyam Raya, the chief statistics officer of the National Statistics Office, is the sitting secretary who applied, while former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana have also applied for the coveted post. Similarly, chartered accountants Subodh Karna and Hari Silwal have also applied for the position.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to non-compliance with the laws and regulations, the arrears to be settled by the Auditor General's 60th annual report has reached Rs 959 billion. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Baikuntha Bahadur Adhikari, the spokesperson for the Office of the Auditor General, said that he is confident that the Auditor General will be appointed soon as per the constitutional provisions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19840', 'image' => '20240130023638_oag-building.jpg', 'article_date' => '2024-01-30 14:35:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20113', 'article_category_id' => '1', 'title' => 'Govt Finalises Title and Logo of Third Investment Summit', 'sub_title' => '', 'summary' => 'January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event has been named 'Emerging Nepal Investment Summit- 2024', according to the Summit Secretariat. The second meeting of the Investment Summit Steering Committee decided the title of the event, according to Joint-Secretary and Investment Board’s Spokesperson Pradyumna Prasad Upadhyay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Steering Committee coordinated by the finance minister, the Implementation Committee led by the chief secretary, and the Technical Committee headed by the secretary at the Ministry of Industry, Commerce, and Supplies have been formed in view of hosting the event. The Summit's Secretariat coordinated by the IBN Chief Executive Officer is located at the Office of the Investment Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A taskforce formed to recommend legal amendments for the Summit has proposed amendments to around one dozen of acts and regulations. As the pre-event of the Summit, the IBN last Friday held a workshop on 'Unlocking Nepal's Investment Potential: Collaborative Strategies for Economic Growth,' in Kathmandu. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19839', 'image' => '20240130024837_investment.jpg', 'article_date' => '2024-01-30 14:48:11', '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' => '20127', 'article_category_id' => '1', 'title' => 'Army’s Feasibility Study Outlines Plan for Revival of Hetauda Textile Industry', 'sub_title' => 'The industry will have no problem for market if revived as the army will be one of the major potential consumers', 'summary' => 'January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal support.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal support.</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"">During a high-level meeting held at the Office of the Prime Minister and Council of Ministers on Wednesday, the NA briefed the prime minister about the feasibility study regarding the resumption of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The feasibility study was prepared following the government’s announcement to explore possibilities for reviving the closed industries in the current fiscal year’s policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The textile factory that was established in 2032 BS with financial and technical assistance from the Chinese government and with the investment of the Government of Nepal halted its production in 2056 BS. The then royal government in 2059 BS decided to close it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study report highlighted the lack of market management, lack of technology advancement as per the need of time, the power outage issue, overstaffing and the lack of managerial efficiency among the factors leading to the closure of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states about the possibility to reuse some factory structures and machinery after maintenance. It is stated that NA Welfare Fund has sufficient budget to operate the industry, adding that most of raw materials needed for the factory are available within the country. According to the report, the factory will have no problem for market if revived as the NA will be one of the major potential consumers with NA personnel being likely users of garments to be produced by the industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The factory has 166 ropanis of land under its ownership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the revival of the industry is needed to contribute to the national industrial development and to contribute to gross domestic product, to send a positive message to the world market, to boost up self-sufficiency of the nation, and for import substitution and creation of employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study taskforce has also proposed the outline for re-operation of the industry. The proposed plan along with a three-year work plan has set the target of manufacturing approximately 2.6 million metres of cloth. </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"">A policy decision regarding this would be made in the current fiscal year and the industry would be handed over to the Nepalese Army, which will prepare the DPR, and select and purchase new machinery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it is stated in the proposed outline that test production would be started in the coming fiscal year by completing the construction of the infrastructure and purchase of machine and equipment. It is stated that the machines would be added, the industry's capacity expanded and regular production started by conducting the feasibility study for the operation of Butwal Spinning Mills and managing the raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The preliminary cost estimate for re-operating the industry is Rs 1.93 billion and the annual operation cost is expected to be around Rs 780 million. The taskforce has concluded that the industry will be in a position to make profit, replacing the investment cost, after nine years of its re-operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce has also proposed for policy and legal support from the government for the re-operation of the industry. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19854', 'image' => '20240131103322_20220613074107_Industries.jpg', 'article_date' => '2024-01-31 22:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20125', 'article_category_id' => '1', 'title' => 'Coca-Cola Celebrates 50 Years in Nepal', 'sub_title' => '', 'summary' => 'In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the years, Coca-Cola has been a witness to countless celebrations, from family gatherings to national events, creating lasting memories and fostering meaningful connections among people. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company's commitment to Nepal is further solidified by the presence of two manufacturing plants—Bottlers Nepal Limited (BNL) in Kathmandu and Bottlers Nepal Terai Limited (BNTL) in Chitwan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a widespread network of over 1 Lakh retailer outlets nationwide, Coca-Cola directly and indirectly employs more than 1000 individuals, impacting the lives of over 5000 people.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a significant foreign investor, Coca-Cola has played a crucial role in Nepal's socio-economic growth. The company has been a pillar of support during challenging times, launching initiatives such as "Pheri Uthne Chha Nepal" after the 2015 earthquake and the "Stop the Spread" campaign during the COVID-19 pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Beyond business, Coca-Cola's engagement with the Nepali community extends to various impactful initiatives. The "Saksham" program, in collaboration with Atelier Platform Pvt. Ltd. Pvt Ltd, has empowered over 2000 women, fostering economic independence and positive change in local communities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The "Youth Dialogue" program, conducted in partnership with Glocal Pvt Ltd, focuses on youth development and empowerment through collaborations with colleges and universities across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the annual Dashain festival, Coca-Cola's campaigns, such as the recent "Sambandha Utsav," aim to bring people together, celebrate relationships, and spread joy through rewards and recognition schemes for consumers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, The Coca-Cola Foundation, with a global mission to make a positive impact, supports transformative ideas and institutions in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The foundation's focus areas include sustainable access to safe water, building climate resilience, promoting a circular economy, economic empowerment, and disaster response. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Collaborating with renowned international and local NGOs, such as WaterAid, WWF, Maiti Nepal, WHR, Creasion, Rotary Club of Nagarjun, Centre for Entrepreneurship and Innovation, Women for Human Rights, and CARE Nepal, the foundation actively contributes to community well-being.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coca-Cola Foundation has been an unwavering supporter of Nepal's environmental conservation efforts, actively participating in the Mountain Clean-Up Campaign initiated by the Nepali Army for the past three years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a diverse portfolio that includes iconic brands like Coca-Cola, Fanta, Sprite, Kinley, and Charged, the company continues to offer Nepali consumers a range of refreshing and hydrating beverage options. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19852', 'image' => '20240131042556_collage (2).jpg', 'article_date' => '2024-01-31 16:24:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20124', 'article_category_id' => '1', 'title' => 'NEPSE Registers a Loss of 21.67 Points, Closing at 2097.63', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 313 scrips were traded through 95,645 transactions. As many as 14,777,120 scrips changed hands, resulting in a total turnover amount of Rs 5.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the transactions with a total turnover of Rs 63 crores, closing at a market price of Rs 714 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samling Power Company Limited (SPC) witnessed the highest gain of 9.87%, closing at a market price of Rs 690 per share. On the contrary, Menchhiyam Hydropower Limited (MCHL) suffered the highest loss at 5.87%, closing at a market price of Rs 309 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red territory except for Manufacturing and Processing. The Hotels and Tourism Index lost the most at 2.04%, while the Mutual Fund sector incurred the minimal loss of 0.02%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19851', 'image' => '20240131040441_collage (1).jpg', 'article_date' => '2024-01-31 16:03:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20123', 'article_category_id' => '1', 'title' => 'Construction Work of Third Section of Jayanagar-Bardibas Railway Project Picking Up Pace', 'sub_title' => '', 'summary' => 'January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari. Nepal Railway Company started the 17 km long third section of this project after the completion of the first and second sections from Jayanagar to Kurtha in Dhanusha and from Kurtha to Bhangaha in Mahottari respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The project which is 69 km in total was divided into three sections. The first section is 35 km lomg from Jayanagar to Kurtha and the second is 17 km from Kurtha to Bhangaha. After completing the work of the two sections and putting the 52 km railway track into operation, the company is now focused on completing the third and the final section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">General Manager of Nepal Railway Company Niranjan Jha says that they are in the final stage of distributing compensation for the land required to build the 17 km track.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Compensation distribution of the third section is in the final stage. As soon as the compensation is distributed, the construction work will proceed,” said Jha. The company said that the government has already provided compensation for more than 80 percent of the 123 bigha land required for this section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The land acquired by giving compensation in this section is currently being surveyed. According to Jha, a joint team of technicians from Nepal and India is currently conducting a survey in the third section of this project, which is being built with the help of the Government of India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The work of expanding the railway service in this section started as per the bilateral agreement reached during the visit of the then President Dr. Ram Baran Yadav to India in 2010. As per the agreement, a 35 km train service from Jayanagar to Kurtha was put into operation after the joint inauguration of the first section of the railway project by then Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi on 25 March 2022.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the Jayanagar Bardibas railway project is being done by the Indian government-owned Econ Company. The Government of Nepal has provided land for railway track. As per the agreement, the Government of Nepal has been providing compensation for the land, while the construction work is being done by the Government of India. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19850', 'image' => '20240131032607_20200816022943_1597524353.Clipboard01.jpg', 'article_date' => '2024-01-31 15:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20121', 'article_category_id' => '1', 'title' => 'Nepal now has 17 Five-Star Hotels ', 'sub_title' => '', 'summary' => 'January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. The Department of Tourism has issued license to one deluxe five-star level hotel and other 16 five-star hotels in the country. Hotels get a star-star rating from the Department of Tourism based on their infrastructure, services, and facilities. The hotels should apply for the five-star rating with the department. Some of the hotels operating in the country are also preparing to submit applications to the department for the five-star rating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Some hotels are under construction. The department estimates that the number of five-star hotels will increase within a short span.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Budhanilkanth Heritage Limited, under India's hospitality chain brand 'Lemon Tree Premier', is also planning to apply for a five-star rating. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the department, the total number of rooms in five-star deluxe and similar-level hotels is 2,346 in Nepal. According to the rating done by the department, there is only one five-star deluxe hotel. Hotel Mechi Crown, which is operating in Dhulabari, Jhapa, is the only five-star deluxe hotel in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Soalte Hotel, Hotel Annapurna, Taragaon Regency Hotel Limited (Hyatt), The Mall Hotel Pvt Ltd, Hotel Shangrila, Hotel Everest, Hotel Aloft, Hyatt Place, Hotel Lhasa International, Akama Hotel in Kathmandu are among the five-star category hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Tiger One Pvt Ltd in Rupandehi, Soalte Westend in Nepalganj in Banke, Hotel Central Plaza in Banke, Hotel The Kingsbury in Jhapa, Ichha Hotel in Simra in Bara have been classified as five-star hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Most of the five-star hotels are centered in the federal capital, Kathmandu. According to the latest data of the department, there are still very few five-star hotels operating outside the federal capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Also, the number of hotels built in recent times is higher in Kathmandu. Among the hotels that have been added recently and received a five-star rating license from the department are Hyatt Place, Akama, Aloft, and Hotel Lhasa International.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">President of Hotel Association Nepal (HAN) Binayak Shah believes that the number of five-star hotels will increase if the hotels that meet the standards set by the government apply to the department for a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Shah, the hotels are based in Kathmandu due to their commercial plans and strategy.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19849', 'image' => '20240131021053_Hotel.jpg', 'article_date' => '2024-01-31 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20122', 'article_category_id' => '1', 'title' => ' NPC Seeks Recommendations from Development Partners for 16th Plan and LDC Graduation ', 'sub_title' => '', 'summary' => 'January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Officials from the United Nations, World Bank, International Monetary Fund as well as ambassadors and representatives from different countries provided their recommendations during the discussion held under the chairmanship of NPC Vice-Chair Dr Min Bahadur Shrestha on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The development partners attending the meeting stressed the need to establish coherent linkage between the 16th plan and LDC graduation strategy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC Vice-Chair Dr Shrestha said constructive recommendations received from the development partners would be included in the 16th plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NPC had held discussion with newly-appointed members of the National Development Council regarding the 16th plan. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19848', 'image' => '20240131030928_sixteen plan.jpg', 'article_date' => '2024-01-31 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20120', 'article_category_id' => '1', 'title' => 'Buildcon Exhibition to Kick off on February 1', 'sub_title' => '', 'summary' => 'January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February 1 to 4. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February <span style="font-family:"Arial Unicode MS","sans-serif"">1</span> to 4<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>This is the ninth edition of the exhibition jointly organized by Media Space Solutions Pvt Ltd and FutureX Trade Fair and Events Pvt Ltd. Visitors can get information about the products related to the construction business and the latest technology in this field at the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organizers, the aim of the expo is to make materials and technology produced in Nepal accessible in the international market. They said that the exhibition will feture more than <span style="font-family:"Arial Unicode MS","sans-serif"">150</span> stalls of over <span style="font-family:"Arial Unicode MS","sans-serif"">300</span> brands from different countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The exhibition will showcase construction materials, construction machinery, UPVC window machinery, prefab structures, UPVC profiles and architectural hardware. Similarly, bathroom fittings, pipes, tiles and sanitary wares, roofing, pre-engineering buildings, concrete block machinery, aluminum machinery panels will also be displayed in the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The organizers expect the participation of architects, engineers, contractors, builders, interior designers, people who want to build a house and common citizens in this exhibition. Kazaria Tiles is the title sponsor of the exhibition while Volga and Jindal Steel are co-sponsors. Arrangements have been made for free entry for the visitors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19847', 'image' => '20240131015504_build.jpg', 'article_date' => '2024-01-31 13:54:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20119', 'article_category_id' => '1', 'title' => 'Production of Black Cardamom Drops by 50 Percent', 'sub_title' => '', 'summary' => 'January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).', 'content' => '<p><span style="font-size:16px">January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).</span></p> <p><span style="font-size:16px">During the corresponding period of last year, the country exported a total of 46,73,224 kg of black cardamom worth Rs 3.74 billion.</span></p> <p><span style="font-size:16px">Compared to the same period last year, black cardamom exports declined by 38.65 percent in terms of quantity but it increased by 4.48 percent in terms of value.</span></p> <p><span style="font-size:16px">According to the data of the Department of Customs, 100 percent of the black cardamom were exported to India in the current fiscal year.</span></p> <p><span style="font-size:16px">Nirmal Bhattarai, president of the Nepal Black Cardamom Traders Association, said that the export of cardamom declined this year because the production of black cardamom decreased by 50 percent this year compared to last year.</span></p> <p><span style="font-size:16px">He said that although the quantity of export has decreased, it has fetched better price than last year.</span></p> <p><span style="font-size:16px">"Although the export volume has decreased, the income from export of black cardamom has increased due to the increase in the price of black cardamom," he said, adding, "This year, it did not rain at the right time."</span></p> <p><span style="font-size:16px">Due to lack of timely rain, many cardamom plants dried up this year during flowering season.</span></p> <p><span style="font-size:16px">Similarly, the farmers also did not put much effort for production as they did not get good price last year.</span></p> <p><span style="font-size:16px">Now the price of normal quality cardamom is Rs 77,000 per 40 kg and the price of jumbo jet (JJ) quality is Rs 80,000 per 40 kg.</span></p> <p><span style="font-size:16px">Bhattarai said that the production of black cardamom was 8,000 metric tons last year which is estimated to drop to 4,500 metric tons this year. At present, cardamom is cultivated commercially in 43 districts of Nepal although it can be cultivated in 53 districts.</span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19846', 'image' => '20240131124328_BlackCardamom.jpg', 'article_date' => '2024-01-31 12:42:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20118', 'article_category_id' => '1', 'title' => 'Biting Cold Cripples Life in Khumbu Area as Hotels and Schools Remain Closed', 'sub_title' => 'Khumbu Region Wears a Deserted Look as Locals Descend to Warmer Areas to Avoid Cold', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: Most of the businessmen and locals of Khumbu, a major tourism hub in the Himalayan region, have left the area to ward off the chilling cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel owners, who are busy during the tourist season, have also started leaving the Khumbu area to escape the harsh winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to a local Damu Sherpa, around 70 percent of the businessmen and general public in the area have left Khumbu region. Most of them go to Kathmandu while some to India's Buddhagaya for pilgrimage during winter. Other descend to warmer places during winter.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Toya Shrestha of Lukla said the Khumbu area has turned deserted with the exit of most of the businessmen and locals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the airport, hotels/ and odges, camping sites and sight-seeing places of Khumbu, which used to be crowded with tourists, are now deserted during winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lamakaji Sherpa of Namche said that Namche, Gokyo, Kalapathar, Everest base camp and other places known as the gateway to Mt. Everest have also become deserted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although some hotels are still open, the life of businessmen is becoming difficult. According to the Civil Aviation Authority of Nepal (CAAN)’s branch office in Lukla, there are only five to six flights per day in Lukla, while there used to be more than 100 flights daily during the peak season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to its geographical remoteness and high mountainous area, people can no longer stay in this area during the winter months. A local informed that they live in this region only for six months in a year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in cold, a number of people shifting to Salleri, the headquarters of the mountainous district Solukhumbu, has increased. From children to the elderly, people have started setting fire on the streets to avoid the cold. Dawa Sherpa of Salleri said that the cold has especially affected the elderly and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nawaraj Parajuli of the Meteorological Centre, Salleri, said the temperature in Salleri has been steadily decreasing for the past one week. Salleri recorded a temperature of minus two degrees Celsius on Tuesday, he said. According to him, the temperature in the district is the lowest this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Life in the upper parts of the district has been further affected by the cold. Angfurwa Sherpa, a local, said that the cold has crippled daily life in the mountainous areas of Namche, Lukla and Fakding. There has been a problem in water supply in Khumbu area of the district as the water has frozen in the pipe due to cold. Drinking water supply has been affected in the Sagarmatha region with water pipes freezing due to extreme cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nuru Sherpa, a local, said that the supply of drinking water has been stopped in various parts of Khumbu as the frozen water did not melt even during in the afternoon.</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"">"In Khumbu, even the edible oil freezes. It melts in presence of the sun. The water stored inside the house does not melt throughout the day if there is no sun. The situation here is different from what you think. Life is difficult. That is why most of the people leave Khumbu. Only a few of us are left in the villages." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the locals, the temperature in the upper parts of the district has dropped to minus 17 degrees Celsius. The cold has affected development works as well as other daily activities, while the movement of people in the villages is decreasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lhakpa Sherpa, a teacher at PK Secondary School, Loding, said that people are compelled to spend time by lighting fire. He added that the schools are closed. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19845', 'image' => '20240131112418_258482_218714068152324_7011012_o.jpg', 'article_date' => '2024-01-31 11:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20117', 'article_category_id' => '1', 'title' => 'IMF Lifts Global Growth Forecast Citing Unexpected 'Resilience'', 'sub_title' => '', 'summary' => 'January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.<br /> The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International Monetary Fund's previous forecast in October.<br /> "We had simultaneously less inflation and more growth," IMF chief economist Pierre-Olivier Gourinchas told reporters ahead of the report's publication.<br /> "It's not just a US story. There was a lot of resilience in many, many parts of the world in the last year and going into 2024," he said, highlighting countries including China, Russia, Brazil and India.<br /> Despite the upgrade, global growth is predicted to remain below its recent historical average of 3.8 percent this year and next due to continued impacts of elevated interest rates, the withdrawal of pandemic-related government support, and persistently low levels of productivity.<br /> Among the Group of Seven (G7) advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.<br /> The IMF's overall inflation outlook remained unchanged at 5.8 percent for 2024, but that masks a significant underlying shift between richer and poorer countries.<br /> Inflation in advanced economies is now forecast to be 2.6 percent in 2024, down 0.4 percentage points from October, while emerging and developing economies are expected to hit an annual inflation rate of 8.1 percent, up 0.3 percentage points.<br /> Much of the increase can be attributed to ongoing trouble in Argentina, where consumer price increases exceeded 200 percent last year amid an ongoing economic crisis.<br /> <strong>US, China lift growth</strong><br /> The United States and China, the world's two largest economies, both saw significant upgrades to their growth outlook for 2024, putting them on track for a less substantial slowdown than the IMF previously anticipated.<br /> The IMF now expects the US economy to grow by 2.1 percent in 2024 -- an election year in which President Joe Biden is seeking a second term -- down slightly from an estimated 2.5 percent in 2023.<br /> This is largely due to the "statistical carryover effects from the stronger-than-expected growth outcome for 2023," the IMF said.<br /> China's economy is meanwhile on track to hit 4.6 percent growth this year, down from 5.2 percent last year.<br /> The better-than-expected growth figures are down to property sector "difficulties" having a less severe impact than the IMF had anticipated, and also because of the "significant fiscal support coming from the authorities," Gourinchas said.<br /> An ongoing bright spot in the global economy continues to be India, which the IMF now expects to grow by 6.5 percent this year -- up 0.2 percentage points from October -- following an estimated growth rate of 6.7 percent in 2023.<br /> The Fund also increased the growth prospects for Russia, Iran and Brazil for the year ahead.<br /> <strong>Challenges remain in Europe</strong><br /> While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."<br /> Germany is once again set to be the slowest-growing G7 economy, expanding by just 0.5 percent this year after contracting by an estimated 0.3 percent in 2023.<br /> The United Kingdom, France and Italy are all also expected to see growth of 1.0 percent or less this year, while Spain's economy is forecast to fare slightly better, growing by 1.5 percent.<br /> The tepid euro area growth reflects "weak consumer sentiment, the lingering effects of high energy prices, and weakness in interest-rate-sensitive manufacturing and business investment," the IMF noted in the WEO report.<br /> Despite some challenging forecasts, the overall picture in 2024 looks set to be less gloomy for many countries than it was in 2024: Every country cited in the WEO report save Argentina is set to have positive growth this year.<br /> This is an improvement from 2023, when four out of the 30 economies cited in the report are estimated to have contracted, according to the IMF. -- AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19844', 'image' => '20240131105230_iiii.jpg', 'article_date' => '2024-01-31 10:51:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20116', 'article_category_id' => '1', 'title' => 'Loan Shark Victims Launch 'March for Justice'', 'sub_title' => '', 'summary' => 'Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 31: Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Organized by the Usury Victims Peasants Workers Struggle Committee, the participants, totaling 50 individuals from Jhapa, Sunsari, Siraha, and Saptari districts, have commenced a 15-day journey on foot towards Kathmandu, equipped with arrangements of food and shelter.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Half of the participants are women, reflecting the diverse impact of usury on the community. Simultaneously, another group of victims from Mahendranagar in the western part of the country has also begun their march for justice. The two groups plan to converge in Chitwan and continue their joint march towards Kathmandu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Awadesh Kushwaha, the Committee's Central Chairperson, launched the commencement of the march on Martyrs Day, presenting a six-point demand to the government. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The demands include cancellation of all fraudulent documents associated with usury, revocation of property rights transferred to exploitative lenders, and formulation of stringent laws to address financial crimes related to usury.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other demands include establishment of a high-powered judicial commission, opening new applications for the record-keeping of usury victims, arrest of exploitative moneylenders, and investigation of unilaterally verified usury-related deeds at the local level. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Kushwaha emphasized the urgency of government attention to the victims' demands. He warned that they would not leave the street until their demands were addressed. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19843', 'image' => '20240131061842_collage (19).jpg', 'article_date' => '2024-01-31 06:17:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20115', 'article_category_id' => '1', 'title' => 'Nepal Makes Slight Improvement in Corruption Perceptions Index', 'sub_title' => '', 'summary' => 'January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, it was ranked in the 110th position with a score of 34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the assessment of 180 countries in the world, Denmark is in the first position with a score of 90 indicating the lowest corruption followed by Finland in the second position, New Zealand in the third, Norway in the fourth and Singapore in the fifth. </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"">Sweden, Switzerland, the Netherlands, Germany and Luxemburg complete the top ten least corrupt nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other end of the table, Somalia is ranked 180th indicating the highest level of corruption while Venezuela, Syria, South Sudan and Yemen also fall on the bottom end of the table. Nepal's two closest neighbours India ranked 93rd with a score of 39 and China 76th with a score of 42. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was based on analysis of data from the World Bank, World Economic Forum and other organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index is calculated using data from 13 external sources. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to TI, its 29th annual corruption perceptions index assess how countries have responded to corruption over time, reviewing progress and failures over the last decade and beyond. It is specifically focused on how weakening justice systems contribute to a lack of accountability of public officials, thereby allowing corruption to thrive. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that over two-third countries' score is below 50 out of 100, strongly indicating that they have serious corruption problems. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19842', 'image' => '20240130043343_collage (32).jpg', 'article_date' => '2024-01-30 16:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20114', 'article_category_id' => '1', 'title' => 'Government’s Unstable Policy a Deterrent in Developing Startup Ecosystem in the Country', 'sub_title' => '', 'summary' => 'January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise. Questions are being raised about the government’s commitment to developing the startup ecosystem after the introduction of a new procedure that is likely to disrupt the concessional loans under the startup programme in Nepal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About a year ago, the government had initiated the process of distributing subsidized loan for startups by calling for applications to provide concessional loans to 100 start-up enterprises. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The startup entrepreneurs, who were in the final stage of obtaining concessional loans, have been disappointed after the government introduced the Startup Enterprise Loan Operation Procedure 2080 as the new procedure contradicts the process they have fulfilled so far. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">When the Department of Industries asked for applications for start-up loans, it received a total of 382 applications. The government had allocated Rs 250 million to provide concessional loans to 100 startup enterprises selected from among those applicants. However, the budget has been frozen as the new procedure has changed the agency that executes startup loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A total of 169 startup enterprises that have reached the stage of further evaluation will not get loans through the Department of Industries anymore.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, the government had issued the 'Startup Business Loan Disbursement Procedure 2079' on February 22 last year. The procedure assigned the responsibility of implementing the concessional loan program to the Department of Industries. Following the same procedure, the department had asked for applications with a policy of providing concessional loans up to Rs 2.5 million per startup. Less than a year later, the government approved the Start-up Enterprise Loan Operation Procedure 2080 on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Now, the Industrial Business Development Foundation will do the work of facilitating loans to start-up enterprises, seeking for applications. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the government has introduced a policy of providing subsidizing loan to help startup enterprises, not a single entity has been able to benefit from the government's announcement to develop the startup ecosystem due to its instable policy.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Jeevlal Bhusal, Joint Secretary of the Ministry of Industry, Commerce and Supplies, informed that the Startup Enterprise Loan Operation Procedure 2080 will now be implemented by the Industrial Business Development Foundation. "The Department of Industries is not a body with expertise in this regard," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that no further process will be carried out regarding the application submitted to the Industry Department last year. "Old applicants (who have submitted their applications to the department) can apply again," said Bhusal, "Since last year's budget has been frozen, it cannot be provided to the startups." </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new procedure approved by the government has designated 16 sectors and enterprises as startups. It is said that the loan will be provided in the areas specified by the procedure and the loan period will be 5 years. 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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has allocated Rs 250 million for this program in the current fiscal year as well. Bhusal claimed that the program will be implemented this year. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19841', 'image' => '20240130031058_startup.jpg', 'article_date' => '2024-01-30 15:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20112', 'article_category_id' => '1', 'title' => 'Office of the Auditor General without Leadership for Last Eight Months', 'sub_title' => 'Government Dilly-Dallying Appointment of Auditor General', 'summary' => 'January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. The post of Auditor General has remained vacant ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement on Friday due to the age limit. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This clearly shows that the government is hesitating to appoint the Auditor General. Due to the lack of leadership, the office has not been able to formulate a new strategy while the body responsible to monitor the government’s finances has not been able to settle arrears worth billions of rupees.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the constitutional provisions, the term of the Auditor General is 6 years.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the beginning of the current fiscal year, the Secretariat of the Constitutional Council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General. 15 people have applied for the post of Auditor General. Among those applying to become the Auditor General who will serve a 6-year term are Acting Auditor General Kafle, who recently went on compulsory retirement, former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Toyam Raya, the chief statistics officer of the National Statistics Office, is the sitting secretary who applied, while former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana have also applied for the coveted post. Similarly, chartered accountants Subodh Karna and Hari Silwal have also applied for the position.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to non-compliance with the laws and regulations, the arrears to be settled by the Auditor General's 60th annual report has reached Rs 959 billion. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Baikuntha Bahadur Adhikari, the spokesperson for the Office of the Auditor General, said that he is confident that the Auditor General will be appointed soon as per the constitutional provisions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19840', 'image' => '20240130023638_oag-building.jpg', 'article_date' => '2024-01-30 14:35:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20113', 'article_category_id' => '1', 'title' => 'Govt Finalises Title and Logo of Third Investment Summit', 'sub_title' => '', 'summary' => 'January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event has been named 'Emerging Nepal Investment Summit- 2024', according to the Summit Secretariat. The second meeting of the Investment Summit Steering Committee decided the title of the event, according to Joint-Secretary and Investment Board’s Spokesperson Pradyumna Prasad Upadhyay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Steering Committee coordinated by the finance minister, the Implementation Committee led by the chief secretary, and the Technical Committee headed by the secretary at the Ministry of Industry, Commerce, and Supplies have been formed in view of hosting the event. The Summit's Secretariat coordinated by the IBN Chief Executive Officer is located at the Office of the Investment Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A taskforce formed to recommend legal amendments for the Summit has proposed amendments to around one dozen of acts and regulations. As the pre-event of the Summit, the IBN last Friday held a workshop on 'Unlocking Nepal's Investment Potential: Collaborative Strategies for Economic Growth,' in Kathmandu. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19839', 'image' => '20240130024837_investment.jpg', 'article_date' => '2024-01-30 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20127', 'article_category_id' => '1', 'title' => 'Army’s Feasibility Study Outlines Plan for Revival of Hetauda Textile Industry', 'sub_title' => 'The industry will have no problem for market if revived as the army will be one of the major potential consumers', 'summary' => 'January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal support.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: A feasibility study report prepared by the Nepalese Army has pointed out the prospects of reviving the now-defunct Hetauda Textile Industry on condition that the government provides policy and legal support.</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"">During a high-level meeting held at the Office of the Prime Minister and Council of Ministers on Wednesday, the NA briefed the prime minister about the feasibility study regarding the resumption of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The feasibility study was prepared following the government’s announcement to explore possibilities for reviving the closed industries in the current fiscal year’s policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The textile factory that was established in 2032 BS with financial and technical assistance from the Chinese government and with the investment of the Government of Nepal halted its production in 2056 BS. The then royal government in 2059 BS decided to close it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study report highlighted the lack of market management, lack of technology advancement as per the need of time, the power outage issue, overstaffing and the lack of managerial efficiency among the factors leading to the closure of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states about the possibility to reuse some factory structures and machinery after maintenance. It is stated that NA Welfare Fund has sufficient budget to operate the industry, adding that most of raw materials needed for the factory are available within the country. According to the report, the factory will have no problem for market if revived as the NA will be one of the major potential consumers with NA personnel being likely users of garments to be produced by the industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The factory has 166 ropanis of land under its ownership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the revival of the industry is needed to contribute to the national industrial development and to contribute to gross domestic product, to send a positive message to the world market, to boost up self-sufficiency of the nation, and for import substitution and creation of employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study taskforce has also proposed the outline for re-operation of the industry. The proposed plan along with a three-year work plan has set the target of manufacturing approximately 2.6 million metres of cloth. </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"">A policy decision regarding this would be made in the current fiscal year and the industry would be handed over to the Nepalese Army, which will prepare the DPR, and select and purchase new machinery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it is stated in the proposed outline that test production would be started in the coming fiscal year by completing the construction of the infrastructure and purchase of machine and equipment. It is stated that the machines would be added, the industry's capacity expanded and regular production started by conducting the feasibility study for the operation of Butwal Spinning Mills and managing the raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The preliminary cost estimate for re-operating the industry is Rs 1.93 billion and the annual operation cost is expected to be around Rs 780 million. The taskforce has concluded that the industry will be in a position to make profit, replacing the investment cost, after nine years of its re-operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce has also proposed for policy and legal support from the government for the re-operation of the industry. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19854', 'image' => '20240131103322_20220613074107_Industries.jpg', 'article_date' => '2024-01-31 22:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20125', 'article_category_id' => '1', 'title' => 'Coca-Cola Celebrates 50 Years in Nepal', 'sub_title' => '', 'summary' => 'In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the years, Coca-Cola has been a witness to countless celebrations, from family gatherings to national events, creating lasting memories and fostering meaningful connections among people. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company's commitment to Nepal is further solidified by the presence of two manufacturing plants—Bottlers Nepal Limited (BNL) in Kathmandu and Bottlers Nepal Terai Limited (BNTL) in Chitwan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a widespread network of over 1 Lakh retailer outlets nationwide, Coca-Cola directly and indirectly employs more than 1000 individuals, impacting the lives of over 5000 people.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a significant foreign investor, Coca-Cola has played a crucial role in Nepal's socio-economic growth. The company has been a pillar of support during challenging times, launching initiatives such as "Pheri Uthne Chha Nepal" after the 2015 earthquake and the "Stop the Spread" campaign during the COVID-19 pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Beyond business, Coca-Cola's engagement with the Nepali community extends to various impactful initiatives. The "Saksham" program, in collaboration with Atelier Platform Pvt. Ltd. Pvt Ltd, has empowered over 2000 women, fostering economic independence and positive change in local communities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The "Youth Dialogue" program, conducted in partnership with Glocal Pvt Ltd, focuses on youth development and empowerment through collaborations with colleges and universities across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the annual Dashain festival, Coca-Cola's campaigns, such as the recent "Sambandha Utsav," aim to bring people together, celebrate relationships, and spread joy through rewards and recognition schemes for consumers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, The Coca-Cola Foundation, with a global mission to make a positive impact, supports transformative ideas and institutions in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The foundation's focus areas include sustainable access to safe water, building climate resilience, promoting a circular economy, economic empowerment, and disaster response. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Collaborating with renowned international and local NGOs, such as WaterAid, WWF, Maiti Nepal, WHR, Creasion, Rotary Club of Nagarjun, Centre for Entrepreneurship and Innovation, Women for Human Rights, and CARE Nepal, the foundation actively contributes to community well-being.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coca-Cola Foundation has been an unwavering supporter of Nepal's environmental conservation efforts, actively participating in the Mountain Clean-Up Campaign initiated by the Nepali Army for the past three years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a diverse portfolio that includes iconic brands like Coca-Cola, Fanta, Sprite, Kinley, and Charged, the company continues to offer Nepali consumers a range of refreshing and hydrating beverage options. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19852', 'image' => '20240131042556_collage (2).jpg', 'article_date' => '2024-01-31 16:24:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20124', 'article_category_id' => '1', 'title' => 'NEPSE Registers a Loss of 21.67 Points, Closing at 2097.63', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 313 scrips were traded through 95,645 transactions. As many as 14,777,120 scrips changed hands, resulting in a total turnover amount of Rs 5.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the transactions with a total turnover of Rs 63 crores, closing at a market price of Rs 714 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samling Power Company Limited (SPC) witnessed the highest gain of 9.87%, closing at a market price of Rs 690 per share. On the contrary, Menchhiyam Hydropower Limited (MCHL) suffered the highest loss at 5.87%, closing at a market price of Rs 309 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red territory except for Manufacturing and Processing. The Hotels and Tourism Index lost the most at 2.04%, while the Mutual Fund sector incurred the minimal loss of 0.02%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19851', 'image' => '20240131040441_collage (1).jpg', 'article_date' => '2024-01-31 16:03:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20123', 'article_category_id' => '1', 'title' => 'Construction Work of Third Section of Jayanagar-Bardibas Railway Project Picking Up Pace', 'sub_title' => '', 'summary' => 'January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari. Nepal Railway Company started the 17 km long third section of this project after the completion of the first and second sections from Jayanagar to Kurtha in Dhanusha and from Kurtha to Bhangaha in Mahottari respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The project which is 69 km in total was divided into three sections. The first section is 35 km lomg from Jayanagar to Kurtha and the second is 17 km from Kurtha to Bhangaha. After completing the work of the two sections and putting the 52 km railway track into operation, the company is now focused on completing the third and the final section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">General Manager of Nepal Railway Company Niranjan Jha says that they are in the final stage of distributing compensation for the land required to build the 17 km track.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Compensation distribution of the third section is in the final stage. As soon as the compensation is distributed, the construction work will proceed,” said Jha. The company said that the government has already provided compensation for more than 80 percent of the 123 bigha land required for this section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The land acquired by giving compensation in this section is currently being surveyed. According to Jha, a joint team of technicians from Nepal and India is currently conducting a survey in the third section of this project, which is being built with the help of the Government of India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The work of expanding the railway service in this section started as per the bilateral agreement reached during the visit of the then President Dr. Ram Baran Yadav to India in 2010. As per the agreement, a 35 km train service from Jayanagar to Kurtha was put into operation after the joint inauguration of the first section of the railway project by then Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi on 25 March 2022.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the Jayanagar Bardibas railway project is being done by the Indian government-owned Econ Company. The Government of Nepal has provided land for railway track. As per the agreement, the Government of Nepal has been providing compensation for the land, while the construction work is being done by the Government of India. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19850', 'image' => '20240131032607_20200816022943_1597524353.Clipboard01.jpg', 'article_date' => '2024-01-31 15:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20121', 'article_category_id' => '1', 'title' => 'Nepal now has 17 Five-Star Hotels ', 'sub_title' => '', 'summary' => 'January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. The Department of Tourism has issued license to one deluxe five-star level hotel and other 16 five-star hotels in the country. Hotels get a star-star rating from the Department of Tourism based on their infrastructure, services, and facilities. The hotels should apply for the five-star rating with the department. Some of the hotels operating in the country are also preparing to submit applications to the department for the five-star rating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Some hotels are under construction. The department estimates that the number of five-star hotels will increase within a short span.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Budhanilkanth Heritage Limited, under India's hospitality chain brand 'Lemon Tree Premier', is also planning to apply for a five-star rating. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the department, the total number of rooms in five-star deluxe and similar-level hotels is 2,346 in Nepal. According to the rating done by the department, there is only one five-star deluxe hotel. Hotel Mechi Crown, which is operating in Dhulabari, Jhapa, is the only five-star deluxe hotel in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Soalte Hotel, Hotel Annapurna, Taragaon Regency Hotel Limited (Hyatt), The Mall Hotel Pvt Ltd, Hotel Shangrila, Hotel Everest, Hotel Aloft, Hyatt Place, Hotel Lhasa International, Akama Hotel in Kathmandu are among the five-star category hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Tiger One Pvt Ltd in Rupandehi, Soalte Westend in Nepalganj in Banke, Hotel Central Plaza in Banke, Hotel The Kingsbury in Jhapa, Ichha Hotel in Simra in Bara have been classified as five-star hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Most of the five-star hotels are centered in the federal capital, Kathmandu. According to the latest data of the department, there are still very few five-star hotels operating outside the federal capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Also, the number of hotels built in recent times is higher in Kathmandu. Among the hotels that have been added recently and received a five-star rating license from the department are Hyatt Place, Akama, Aloft, and Hotel Lhasa International.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">President of Hotel Association Nepal (HAN) Binayak Shah believes that the number of five-star hotels will increase if the hotels that meet the standards set by the government apply to the department for a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Shah, the hotels are based in Kathmandu due to their commercial plans and strategy.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19849', 'image' => '20240131021053_Hotel.jpg', 'article_date' => '2024-01-31 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20122', 'article_category_id' => '1', 'title' => ' NPC Seeks Recommendations from Development Partners for 16th Plan and LDC Graduation ', 'sub_title' => '', 'summary' => 'January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Officials from the United Nations, World Bank, International Monetary Fund as well as ambassadors and representatives from different countries provided their recommendations during the discussion held under the chairmanship of NPC Vice-Chair Dr Min Bahadur Shrestha on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The development partners attending the meeting stressed the need to establish coherent linkage between the 16th plan and LDC graduation strategy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC Vice-Chair Dr Shrestha said constructive recommendations received from the development partners would be included in the 16th plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NPC had held discussion with newly-appointed members of the National Development Council regarding the 16th plan. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19848', 'image' => '20240131030928_sixteen plan.jpg', 'article_date' => '2024-01-31 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20120', 'article_category_id' => '1', 'title' => 'Buildcon Exhibition to Kick off on February 1', 'sub_title' => '', 'summary' => 'January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February 1 to 4. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February <span style="font-family:"Arial Unicode MS","sans-serif"">1</span> to 4<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>This is the ninth edition of the exhibition jointly organized by Media Space Solutions Pvt Ltd and FutureX Trade Fair and Events Pvt Ltd. Visitors can get information about the products related to the construction business and the latest technology in this field at the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organizers, the aim of the expo is to make materials and technology produced in Nepal accessible in the international market. They said that the exhibition will feture more than <span style="font-family:"Arial Unicode MS","sans-serif"">150</span> stalls of over <span style="font-family:"Arial Unicode MS","sans-serif"">300</span> brands from different countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The exhibition will showcase construction materials, construction machinery, UPVC window machinery, prefab structures, UPVC profiles and architectural hardware. Similarly, bathroom fittings, pipes, tiles and sanitary wares, roofing, pre-engineering buildings, concrete block machinery, aluminum machinery panels will also be displayed in the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The organizers expect the participation of architects, engineers, contractors, builders, interior designers, people who want to build a house and common citizens in this exhibition. Kazaria Tiles is the title sponsor of the exhibition while Volga and Jindal Steel are co-sponsors. Arrangements have been made for free entry for the visitors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19847', 'image' => '20240131015504_build.jpg', 'article_date' => '2024-01-31 13:54:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20119', 'article_category_id' => '1', 'title' => 'Production of Black Cardamom Drops by 50 Percent', 'sub_title' => '', 'summary' => 'January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).', 'content' => '<p><span style="font-size:16px">January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).</span></p> <p><span style="font-size:16px">During the corresponding period of last year, the country exported a total of 46,73,224 kg of black cardamom worth Rs 3.74 billion.</span></p> <p><span style="font-size:16px">Compared to the same period last year, black cardamom exports declined by 38.65 percent in terms of quantity but it increased by 4.48 percent in terms of value.</span></p> <p><span style="font-size:16px">According to the data of the Department of Customs, 100 percent of the black cardamom were exported to India in the current fiscal year.</span></p> <p><span style="font-size:16px">Nirmal Bhattarai, president of the Nepal Black Cardamom Traders Association, said that the export of cardamom declined this year because the production of black cardamom decreased by 50 percent this year compared to last year.</span></p> <p><span style="font-size:16px">He said that although the quantity of export has decreased, it has fetched better price than last year.</span></p> <p><span style="font-size:16px">"Although the export volume has decreased, the income from export of black cardamom has increased due to the increase in the price of black cardamom," he said, adding, "This year, it did not rain at the right time."</span></p> <p><span style="font-size:16px">Due to lack of timely rain, many cardamom plants dried up this year during flowering season.</span></p> <p><span style="font-size:16px">Similarly, the farmers also did not put much effort for production as they did not get good price last year.</span></p> <p><span style="font-size:16px">Now the price of normal quality cardamom is Rs 77,000 per 40 kg and the price of jumbo jet (JJ) quality is Rs 80,000 per 40 kg.</span></p> <p><span style="font-size:16px">Bhattarai said that the production of black cardamom was 8,000 metric tons last year which is estimated to drop to 4,500 metric tons this year. At present, cardamom is cultivated commercially in 43 districts of Nepal although it can be cultivated in 53 districts.</span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19846', 'image' => '20240131124328_BlackCardamom.jpg', 'article_date' => '2024-01-31 12:42:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20118', 'article_category_id' => '1', 'title' => 'Biting Cold Cripples Life in Khumbu Area as Hotels and Schools Remain Closed', 'sub_title' => 'Khumbu Region Wears a Deserted Look as Locals Descend to Warmer Areas to Avoid Cold', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: Most of the businessmen and locals of Khumbu, a major tourism hub in the Himalayan region, have left the area to ward off the chilling cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel owners, who are busy during the tourist season, have also started leaving the Khumbu area to escape the harsh winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to a local Damu Sherpa, around 70 percent of the businessmen and general public in the area have left Khumbu region. Most of them go to Kathmandu while some to India's Buddhagaya for pilgrimage during winter. Other descend to warmer places during winter.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Toya Shrestha of Lukla said the Khumbu area has turned deserted with the exit of most of the businessmen and locals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the airport, hotels/ and odges, camping sites and sight-seeing places of Khumbu, which used to be crowded with tourists, are now deserted during winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lamakaji Sherpa of Namche said that Namche, Gokyo, Kalapathar, Everest base camp and other places known as the gateway to Mt. Everest have also become deserted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although some hotels are still open, the life of businessmen is becoming difficult. According to the Civil Aviation Authority of Nepal (CAAN)’s branch office in Lukla, there are only five to six flights per day in Lukla, while there used to be more than 100 flights daily during the peak season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to its geographical remoteness and high mountainous area, people can no longer stay in this area during the winter months. A local informed that they live in this region only for six months in a year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in cold, a number of people shifting to Salleri, the headquarters of the mountainous district Solukhumbu, has increased. From children to the elderly, people have started setting fire on the streets to avoid the cold. Dawa Sherpa of Salleri said that the cold has especially affected the elderly and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nawaraj Parajuli of the Meteorological Centre, Salleri, said the temperature in Salleri has been steadily decreasing for the past one week. Salleri recorded a temperature of minus two degrees Celsius on Tuesday, he said. According to him, the temperature in the district is the lowest this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Life in the upper parts of the district has been further affected by the cold. Angfurwa Sherpa, a local, said that the cold has crippled daily life in the mountainous areas of Namche, Lukla and Fakding. There has been a problem in water supply in Khumbu area of the district as the water has frozen in the pipe due to cold. Drinking water supply has been affected in the Sagarmatha region with water pipes freezing due to extreme cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nuru Sherpa, a local, said that the supply of drinking water has been stopped in various parts of Khumbu as the frozen water did not melt even during in the afternoon.</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"">"In Khumbu, even the edible oil freezes. It melts in presence of the sun. The water stored inside the house does not melt throughout the day if there is no sun. The situation here is different from what you think. Life is difficult. That is why most of the people leave Khumbu. Only a few of us are left in the villages." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the locals, the temperature in the upper parts of the district has dropped to minus 17 degrees Celsius. The cold has affected development works as well as other daily activities, while the movement of people in the villages is decreasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lhakpa Sherpa, a teacher at PK Secondary School, Loding, said that people are compelled to spend time by lighting fire. He added that the schools are closed. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19845', 'image' => '20240131112418_258482_218714068152324_7011012_o.jpg', 'article_date' => '2024-01-31 11:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20117', 'article_category_id' => '1', 'title' => 'IMF Lifts Global Growth Forecast Citing Unexpected 'Resilience'', 'sub_title' => '', 'summary' => 'January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.<br /> The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International Monetary Fund's previous forecast in October.<br /> "We had simultaneously less inflation and more growth," IMF chief economist Pierre-Olivier Gourinchas told reporters ahead of the report's publication.<br /> "It's not just a US story. There was a lot of resilience in many, many parts of the world in the last year and going into 2024," he said, highlighting countries including China, Russia, Brazil and India.<br /> Despite the upgrade, global growth is predicted to remain below its recent historical average of 3.8 percent this year and next due to continued impacts of elevated interest rates, the withdrawal of pandemic-related government support, and persistently low levels of productivity.<br /> Among the Group of Seven (G7) advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.<br /> The IMF's overall inflation outlook remained unchanged at 5.8 percent for 2024, but that masks a significant underlying shift between richer and poorer countries.<br /> Inflation in advanced economies is now forecast to be 2.6 percent in 2024, down 0.4 percentage points from October, while emerging and developing economies are expected to hit an annual inflation rate of 8.1 percent, up 0.3 percentage points.<br /> Much of the increase can be attributed to ongoing trouble in Argentina, where consumer price increases exceeded 200 percent last year amid an ongoing economic crisis.<br /> <strong>US, China lift growth</strong><br /> The United States and China, the world's two largest economies, both saw significant upgrades to their growth outlook for 2024, putting them on track for a less substantial slowdown than the IMF previously anticipated.<br /> The IMF now expects the US economy to grow by 2.1 percent in 2024 -- an election year in which President Joe Biden is seeking a second term -- down slightly from an estimated 2.5 percent in 2023.<br /> This is largely due to the "statistical carryover effects from the stronger-than-expected growth outcome for 2023," the IMF said.<br /> China's economy is meanwhile on track to hit 4.6 percent growth this year, down from 5.2 percent last year.<br /> The better-than-expected growth figures are down to property sector "difficulties" having a less severe impact than the IMF had anticipated, and also because of the "significant fiscal support coming from the authorities," Gourinchas said.<br /> An ongoing bright spot in the global economy continues to be India, which the IMF now expects to grow by 6.5 percent this year -- up 0.2 percentage points from October -- following an estimated growth rate of 6.7 percent in 2023.<br /> The Fund also increased the growth prospects for Russia, Iran and Brazil for the year ahead.<br /> <strong>Challenges remain in Europe</strong><br /> While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."<br /> Germany is once again set to be the slowest-growing G7 economy, expanding by just 0.5 percent this year after contracting by an estimated 0.3 percent in 2023.<br /> The United Kingdom, France and Italy are all also expected to see growth of 1.0 percent or less this year, while Spain's economy is forecast to fare slightly better, growing by 1.5 percent.<br /> The tepid euro area growth reflects "weak consumer sentiment, the lingering effects of high energy prices, and weakness in interest-rate-sensitive manufacturing and business investment," the IMF noted in the WEO report.<br /> Despite some challenging forecasts, the overall picture in 2024 looks set to be less gloomy for many countries than it was in 2024: Every country cited in the WEO report save Argentina is set to have positive growth this year.<br /> This is an improvement from 2023, when four out of the 30 economies cited in the report are estimated to have contracted, according to the IMF. -- AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19844', 'image' => '20240131105230_iiii.jpg', 'article_date' => '2024-01-31 10:51:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20116', 'article_category_id' => '1', 'title' => 'Loan Shark Victims Launch 'March for Justice'', 'sub_title' => '', 'summary' => 'Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 31: Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Organized by the Usury Victims Peasants Workers Struggle Committee, the participants, totaling 50 individuals from Jhapa, Sunsari, Siraha, and Saptari districts, have commenced a 15-day journey on foot towards Kathmandu, equipped with arrangements of food and shelter.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Half of the participants are women, reflecting the diverse impact of usury on the community. Simultaneously, another group of victims from Mahendranagar in the western part of the country has also begun their march for justice. The two groups plan to converge in Chitwan and continue their joint march towards Kathmandu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Awadesh Kushwaha, the Committee's Central Chairperson, launched the commencement of the march on Martyrs Day, presenting a six-point demand to the government. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The demands include cancellation of all fraudulent documents associated with usury, revocation of property rights transferred to exploitative lenders, and formulation of stringent laws to address financial crimes related to usury.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other demands include establishment of a high-powered judicial commission, opening new applications for the record-keeping of usury victims, arrest of exploitative moneylenders, and investigation of unilaterally verified usury-related deeds at the local level. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Kushwaha emphasized the urgency of government attention to the victims' demands. He warned that they would not leave the street until their demands were addressed. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19843', 'image' => '20240131061842_collage (19).jpg', 'article_date' => '2024-01-31 06:17:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20115', 'article_category_id' => '1', 'title' => 'Nepal Makes Slight Improvement in Corruption Perceptions Index', 'sub_title' => '', 'summary' => 'January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, it was ranked in the 110th position with a score of 34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the assessment of 180 countries in the world, Denmark is in the first position with a score of 90 indicating the lowest corruption followed by Finland in the second position, New Zealand in the third, Norway in the fourth and Singapore in the fifth. </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"">Sweden, Switzerland, the Netherlands, Germany and Luxemburg complete the top ten least corrupt nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other end of the table, Somalia is ranked 180th indicating the highest level of corruption while Venezuela, Syria, South Sudan and Yemen also fall on the bottom end of the table. Nepal's two closest neighbours India ranked 93rd with a score of 39 and China 76th with a score of 42. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was based on analysis of data from the World Bank, World Economic Forum and other organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index is calculated using data from 13 external sources. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to TI, its 29th annual corruption perceptions index assess how countries have responded to corruption over time, reviewing progress and failures over the last decade and beyond. It is specifically focused on how weakening justice systems contribute to a lack of accountability of public officials, thereby allowing corruption to thrive. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that over two-third countries' score is below 50 out of 100, strongly indicating that they have serious corruption problems. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19842', 'image' => '20240130043343_collage (32).jpg', 'article_date' => '2024-01-30 16:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20114', 'article_category_id' => '1', 'title' => 'Government’s Unstable Policy a Deterrent in Developing Startup Ecosystem in the Country', 'sub_title' => '', 'summary' => 'January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise. Questions are being raised about the government’s commitment to developing the startup ecosystem after the introduction of a new procedure that is likely to disrupt the concessional loans under the startup programme in Nepal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About a year ago, the government had initiated the process of distributing subsidized loan for startups by calling for applications to provide concessional loans to 100 start-up enterprises. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The startup entrepreneurs, who were in the final stage of obtaining concessional loans, have been disappointed after the government introduced the Startup Enterprise Loan Operation Procedure 2080 as the new procedure contradicts the process they have fulfilled so far. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">When the Department of Industries asked for applications for start-up loans, it received a total of 382 applications. The government had allocated Rs 250 million to provide concessional loans to 100 startup enterprises selected from among those applicants. However, the budget has been frozen as the new procedure has changed the agency that executes startup loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A total of 169 startup enterprises that have reached the stage of further evaluation will not get loans through the Department of Industries anymore.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, the government had issued the 'Startup Business Loan Disbursement Procedure 2079' on February 22 last year. The procedure assigned the responsibility of implementing the concessional loan program to the Department of Industries. Following the same procedure, the department had asked for applications with a policy of providing concessional loans up to Rs 2.5 million per startup. Less than a year later, the government approved the Start-up Enterprise Loan Operation Procedure 2080 on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Now, the Industrial Business Development Foundation will do the work of facilitating loans to start-up enterprises, seeking for applications. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the government has introduced a policy of providing subsidizing loan to help startup enterprises, not a single entity has been able to benefit from the government's announcement to develop the startup ecosystem due to its instable policy.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Jeevlal Bhusal, Joint Secretary of the Ministry of Industry, Commerce and Supplies, informed that the Startup Enterprise Loan Operation Procedure 2080 will now be implemented by the Industrial Business Development Foundation. "The Department of Industries is not a body with expertise in this regard," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that no further process will be carried out regarding the application submitted to the Industry Department last year. "Old applicants (who have submitted their applications to the department) can apply again," said Bhusal, "Since last year's budget has been frozen, it cannot be provided to the startups." </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new procedure approved by the government has designated 16 sectors and enterprises as startups. It is said that the loan will be provided in the areas specified by the procedure and the loan period will be 5 years. 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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has allocated Rs 250 million for this program in the current fiscal year as well. Bhusal claimed that the program will be implemented this year. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19841', 'image' => '20240130031058_startup.jpg', 'article_date' => '2024-01-30 15:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20112', 'article_category_id' => '1', 'title' => 'Office of the Auditor General without Leadership for Last Eight Months', 'sub_title' => 'Government Dilly-Dallying Appointment of Auditor General', 'summary' => 'January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. The post of Auditor General has remained vacant ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement on Friday due to the age limit. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This clearly shows that the government is hesitating to appoint the Auditor General. Due to the lack of leadership, the office has not been able to formulate a new strategy while the body responsible to monitor the government’s finances has not been able to settle arrears worth billions of rupees.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the constitutional provisions, the term of the Auditor General is 6 years.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the beginning of the current fiscal year, the Secretariat of the Constitutional Council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General. 15 people have applied for the post of Auditor General. Among those applying to become the Auditor General who will serve a 6-year term are Acting Auditor General Kafle, who recently went on compulsory retirement, former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Toyam Raya, the chief statistics officer of the National Statistics Office, is the sitting secretary who applied, while former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana have also applied for the coveted post. Similarly, chartered accountants Subodh Karna and Hari Silwal have also applied for the position.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to non-compliance with the laws and regulations, the arrears to be settled by the Auditor General's 60th annual report has reached Rs 959 billion. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Baikuntha Bahadur Adhikari, the spokesperson for the Office of the Auditor General, said that he is confident that the Auditor General will be appointed soon as per the constitutional provisions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19840', 'image' => '20240130023638_oag-building.jpg', 'article_date' => '2024-01-30 14:35:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20113', 'article_category_id' => '1', 'title' => 'Govt Finalises Title and Logo of Third Investment Summit', 'sub_title' => '', 'summary' => 'January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event has been named 'Emerging Nepal Investment Summit- 2024', according to the Summit Secretariat. The second meeting of the Investment Summit Steering Committee decided the title of the event, according to Joint-Secretary and Investment Board’s Spokesperson Pradyumna Prasad Upadhyay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Steering Committee coordinated by the finance minister, the Implementation Committee led by the chief secretary, and the Technical Committee headed by the secretary at the Ministry of Industry, Commerce, and Supplies have been formed in view of hosting the event. The Summit's Secretariat coordinated by the IBN Chief Executive Officer is located at the Office of the Investment Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A taskforce formed to recommend legal amendments for the Summit has proposed amendments to around one dozen of acts and regulations. As the pre-event of the Summit, the IBN last Friday held a workshop on 'Unlocking Nepal's Investment Potential: Collaborative Strategies for Economic Growth,' in Kathmandu. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19839', 'image' => '20240130024837_investment.jpg', 'article_date' => '2024-01-30 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The then royal government in 2059 BS decided to close it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study report highlighted the lack of market management, lack of technology advancement as per the need of time, the power outage issue, overstaffing and the lack of managerial efficiency among the factors leading to the closure of the factory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states about the possibility to reuse some factory structures and machinery after maintenance. It is stated that NA Welfare Fund has sufficient budget to operate the industry, adding that most of raw materials needed for the factory are available within the country. According to the report, the factory will have no problem for market if revived as the NA will be one of the major potential consumers with NA personnel being likely users of garments to be produced by the industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The factory has 166 ropanis of land under its ownership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the revival of the industry is needed to contribute to the national industrial development and to contribute to gross domestic product, to send a positive message to the world market, to boost up self-sufficiency of the nation, and for import substitution and creation of employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study taskforce has also proposed the outline for re-operation of the industry. The proposed plan along with a three-year work plan has set the target of manufacturing approximately 2.6 million metres of cloth. </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"">A policy decision regarding this would be made in the current fiscal year and the industry would be handed over to the Nepalese Army, which will prepare the DPR, and select and purchase new machinery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it is stated in the proposed outline that test production would be started in the coming fiscal year by completing the construction of the infrastructure and purchase of machine and equipment. It is stated that the machines would be added, the industry's capacity expanded and regular production started by conducting the feasibility study for the operation of Butwal Spinning Mills and managing the raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The preliminary cost estimate for re-operating the industry is Rs 1.93 billion and the annual operation cost is expected to be around Rs 780 million. The taskforce has concluded that the industry will be in a position to make profit, replacing the investment cost, after nine years of its re-operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce has also proposed for policy and legal support from the government for the re-operation of the industry. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19854', 'image' => '20240131103322_20220613074107_Industries.jpg', 'article_date' => '2024-01-31 22:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20125', 'article_category_id' => '1', 'title' => 'Coca-Cola Celebrates 50 Years in Nepal', 'sub_title' => '', 'summary' => 'In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: In a remarkable celebration of five decades in Nepal, Coca-Cola, a prominent beverage company, has commemorated its presence in Nepal. Since its establishment in the Nepali market in 1973, Coca-Cola has evolved into an integral part of the country's social fabric, leaving an indelible mark on various aspects of life.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the years, Coca-Cola has been a witness to countless celebrations, from family gatherings to national events, creating lasting memories and fostering meaningful connections among people. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company's commitment to Nepal is further solidified by the presence of two manufacturing plants—Bottlers Nepal Limited (BNL) in Kathmandu and Bottlers Nepal Terai Limited (BNTL) in Chitwan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a widespread network of over 1 Lakh retailer outlets nationwide, Coca-Cola directly and indirectly employs more than 1000 individuals, impacting the lives of over 5000 people.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a significant foreign investor, Coca-Cola has played a crucial role in Nepal's socio-economic growth. The company has been a pillar of support during challenging times, launching initiatives such as "Pheri Uthne Chha Nepal" after the 2015 earthquake and the "Stop the Spread" campaign during the COVID-19 pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Beyond business, Coca-Cola's engagement with the Nepali community extends to various impactful initiatives. The "Saksham" program, in collaboration with Atelier Platform Pvt. Ltd. Pvt Ltd, has empowered over 2000 women, fostering economic independence and positive change in local communities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The "Youth Dialogue" program, conducted in partnership with Glocal Pvt Ltd, focuses on youth development and empowerment through collaborations with colleges and universities across Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the annual Dashain festival, Coca-Cola's campaigns, such as the recent "Sambandha Utsav," aim to bring people together, celebrate relationships, and spread joy through rewards and recognition schemes for consumers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, The Coca-Cola Foundation, with a global mission to make a positive impact, supports transformative ideas and institutions in Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The foundation's focus areas include sustainable access to safe water, building climate resilience, promoting a circular economy, economic empowerment, and disaster response. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Collaborating with renowned international and local NGOs, such as WaterAid, WWF, Maiti Nepal, WHR, Creasion, Rotary Club of Nagarjun, Centre for Entrepreneurship and Innovation, Women for Human Rights, and CARE Nepal, the foundation actively contributes to community well-being.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coca-Cola Foundation has been an unwavering supporter of Nepal's environmental conservation efforts, actively participating in the Mountain Clean-Up Campaign initiated by the Nepali Army for the past three years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a diverse portfolio that includes iconic brands like Coca-Cola, Fanta, Sprite, Kinley, and Charged, the company continues to offer Nepali consumers a range of refreshing and hydrating beverage options. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19852', 'image' => '20240131042556_collage (2).jpg', 'article_date' => '2024-01-31 16:24:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20124', 'article_category_id' => '1', 'title' => 'NEPSE Registers a Loss of 21.67 Points, Closing at 2097.63', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 31: The Nepal Stock Exchange (NEPSE) Index witnessed a loss of 21.67 points or 1.02%, closing at 2097.93 points on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 313 scrips were traded through 95,645 transactions. As many as 14,777,120 scrips changed hands, resulting in a total turnover amount of Rs 5.29 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the transactions with a total turnover of Rs 63 crores, closing at a market price of Rs 714 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samling Power Company Limited (SPC) witnessed the highest gain of 9.87%, closing at a market price of Rs 690 per share. On the contrary, Menchhiyam Hydropower Limited (MCHL) suffered the highest loss at 5.87%, closing at a market price of Rs 309 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the red territory except for Manufacturing and Processing. The Hotels and Tourism Index lost the most at 2.04%, while the Mutual Fund sector incurred the minimal loss of 0.02%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19851', 'image' => '20240131040441_collage (1).jpg', 'article_date' => '2024-01-31 16:03:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20123', 'article_category_id' => '1', 'title' => 'Construction Work of Third Section of Jayanagar-Bardibas Railway Project Picking Up Pace', 'sub_title' => '', 'summary' => 'January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: Railway authorities have initiated the process for the construction of the third section of the Jayanagar-Bardibas railway from India's Jayanagar to Bardibas in Mahottari. Nepal Railway Company started the 17 km long third section of this project after the completion of the first and second sections from Jayanagar to Kurtha in Dhanusha and from Kurtha to Bhangaha in Mahottari respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The project which is 69 km in total was divided into three sections. The first section is 35 km lomg from Jayanagar to Kurtha and the second is 17 km from Kurtha to Bhangaha. After completing the work of the two sections and putting the 52 km railway track into operation, the company is now focused on completing the third and the final section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">General Manager of Nepal Railway Company Niranjan Jha says that they are in the final stage of distributing compensation for the land required to build the 17 km track.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Compensation distribution of the third section is in the final stage. As soon as the compensation is distributed, the construction work will proceed,” said Jha. The company said that the government has already provided compensation for more than 80 percent of the 123 bigha land required for this section.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The land acquired by giving compensation in this section is currently being surveyed. According to Jha, a joint team of technicians from Nepal and India is currently conducting a survey in the third section of this project, which is being built with the help of the Government of India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The work of expanding the railway service in this section started as per the bilateral agreement reached during the visit of the then President Dr. Ram Baran Yadav to India in 2010. As per the agreement, a 35 km train service from Jayanagar to Kurtha was put into operation after the joint inauguration of the first section of the railway project by then Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi on 25 March 2022.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the Jayanagar Bardibas railway project is being done by the Indian government-owned Econ Company. The Government of Nepal has provided land for railway track. As per the agreement, the Government of Nepal has been providing compensation for the land, while the construction work is being done by the Government of India. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19850', 'image' => '20240131032607_20200816022943_1597524353.Clipboard01.jpg', 'article_date' => '2024-01-31 15:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20121', 'article_category_id' => '1', 'title' => 'Nepal now has 17 Five-Star Hotels ', 'sub_title' => '', 'summary' => 'January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The number of five-star and deluxe hotels operating in Nepal has reached 17. The Department of Tourism has issued license to one deluxe five-star level hotel and other 16 five-star hotels in the country. Hotels get a star-star rating from the Department of Tourism based on their infrastructure, services, and facilities. The hotels should apply for the five-star rating with the department. Some of the hotels operating in the country are also preparing to submit applications to the department for the five-star rating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Some hotels are under construction. The department estimates that the number of five-star hotels will increase within a short span.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Budhanilkanth Heritage Limited, under India's hospitality chain brand 'Lemon Tree Premier', is also planning to apply for a five-star rating. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the department, the total number of rooms in five-star deluxe and similar-level hotels is 2,346 in Nepal. According to the rating done by the department, there is only one five-star deluxe hotel. Hotel Mechi Crown, which is operating in Dhulabari, Jhapa, is the only five-star deluxe hotel in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Soalte Hotel, Hotel Annapurna, Taragaon Regency Hotel Limited (Hyatt), The Mall Hotel Pvt Ltd, Hotel Shangrila, Hotel Everest, Hotel Aloft, Hyatt Place, Hotel Lhasa International, Akama Hotel in Kathmandu are among the five-star category hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Tiger One Pvt Ltd in Rupandehi, Soalte Westend in Nepalganj in Banke, Hotel Central Plaza in Banke, Hotel The Kingsbury in Jhapa, Ichha Hotel in Simra in Bara have been classified as five-star hotels.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Most of the five-star hotels are centered in the federal capital, Kathmandu. According to the latest data of the department, there are still very few five-star hotels operating outside the federal capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Also, the number of hotels built in recent times is higher in Kathmandu. Among the hotels that have been added recently and received a five-star rating license from the department are Hyatt Place, Akama, Aloft, and Hotel Lhasa International.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">President of Hotel Association Nepal (HAN) Binayak Shah believes that the number of five-star hotels will increase if the hotels that meet the standards set by the government apply to the department for a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Shah, the hotels are based in Kathmandu due to their commercial plans and strategy.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19849', 'image' => '20240131021053_Hotel.jpg', 'article_date' => '2024-01-31 14:10:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20122', 'article_category_id' => '1', 'title' => ' NPC Seeks Recommendations from Development Partners for 16th Plan and LDC Graduation ', 'sub_title' => '', 'summary' => 'January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: The National Planning Commission (NPC) held consultations with international development partners on the draft of the 16th period plan and Nepal’s smooth transition strategy for graduation from the Least Developed Country (LDC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Officials from the United Nations, World Bank, International Monetary Fund as well as ambassadors and representatives from different countries provided their recommendations during the discussion held under the chairmanship of NPC Vice-Chair Dr Min Bahadur Shrestha on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The development partners attending the meeting stressed the need to establish coherent linkage between the 16th plan and LDC graduation strategy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC Vice-Chair Dr Shrestha said constructive recommendations received from the development partners would be included in the 16th plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NPC had held discussion with newly-appointed members of the National Development Council regarding the 16th plan. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19848', 'image' => '20240131030928_sixteen plan.jpg', 'article_date' => '2024-01-31 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20120', 'article_category_id' => '1', 'title' => 'Buildcon Exhibition to Kick off on February 1', 'sub_title' => '', 'summary' => 'January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February 1 to 4. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: Nepal Buildcon International Exhibition will be held in Kathmandu from February <span style="font-family:"Arial Unicode MS","sans-serif"">1</span> to 4<span style="font-family:"Arial Unicode MS","sans-serif"">. </span>This is the ninth edition of the exhibition jointly organized by Media Space Solutions Pvt Ltd and FutureX Trade Fair and Events Pvt Ltd. Visitors can get information about the products related to the construction business and the latest technology in this field at the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organizers, the aim of the expo is to make materials and technology produced in Nepal accessible in the international market. They said that the exhibition will feture more than <span style="font-family:"Arial Unicode MS","sans-serif"">150</span> stalls of over <span style="font-family:"Arial Unicode MS","sans-serif"">300</span> brands from different countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The exhibition will showcase construction materials, construction machinery, UPVC window machinery, prefab structures, UPVC profiles and architectural hardware. Similarly, bathroom fittings, pipes, tiles and sanitary wares, roofing, pre-engineering buildings, concrete block machinery, aluminum machinery panels will also be displayed in the exhibition.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The organizers expect the participation of architects, engineers, contractors, builders, interior designers, people who want to build a house and common citizens in this exhibition. Kazaria Tiles is the title sponsor of the exhibition while Volga and Jindal Steel are co-sponsors. Arrangements have been made for free entry for the visitors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19847', 'image' => '20240131015504_build.jpg', 'article_date' => '2024-01-31 13:54:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20119', 'article_category_id' => '1', 'title' => 'Production of Black Cardamom Drops by 50 Percent', 'sub_title' => '', 'summary' => 'January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).', 'content' => '<p><span style="font-size:16px">January 31: Black cardamom falls among the top five exports of Nepal. According to the records of the Department of Customs, Nepal exported 28,66,760 kg of black cardamom worth more than Rs 3.9 billion from mid-July to mid-January of the current fiscal year (FY).</span></p> <p><span style="font-size:16px">During the corresponding period of last year, the country exported a total of 46,73,224 kg of black cardamom worth Rs 3.74 billion.</span></p> <p><span style="font-size:16px">Compared to the same period last year, black cardamom exports declined by 38.65 percent in terms of quantity but it increased by 4.48 percent in terms of value.</span></p> <p><span style="font-size:16px">According to the data of the Department of Customs, 100 percent of the black cardamom were exported to India in the current fiscal year.</span></p> <p><span style="font-size:16px">Nirmal Bhattarai, president of the Nepal Black Cardamom Traders Association, said that the export of cardamom declined this year because the production of black cardamom decreased by 50 percent this year compared to last year.</span></p> <p><span style="font-size:16px">He said that although the quantity of export has decreased, it has fetched better price than last year.</span></p> <p><span style="font-size:16px">"Although the export volume has decreased, the income from export of black cardamom has increased due to the increase in the price of black cardamom," he said, adding, "This year, it did not rain at the right time."</span></p> <p><span style="font-size:16px">Due to lack of timely rain, many cardamom plants dried up this year during flowering season.</span></p> <p><span style="font-size:16px">Similarly, the farmers also did not put much effort for production as they did not get good price last year.</span></p> <p><span style="font-size:16px">Now the price of normal quality cardamom is Rs 77,000 per 40 kg and the price of jumbo jet (JJ) quality is Rs 80,000 per 40 kg.</span></p> <p><span style="font-size:16px">Bhattarai said that the production of black cardamom was 8,000 metric tons last year which is estimated to drop to 4,500 metric tons this year. At present, cardamom is cultivated commercially in 43 districts of Nepal although it can be cultivated in 53 districts.</span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19846', 'image' => '20240131124328_BlackCardamom.jpg', 'article_date' => '2024-01-31 12:42:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20118', 'article_category_id' => '1', 'title' => 'Biting Cold Cripples Life in Khumbu Area as Hotels and Schools Remain Closed', 'sub_title' => 'Khumbu Region Wears a Deserted Look as Locals Descend to Warmer Areas to Avoid Cold', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 31: Most of the businessmen and locals of Khumbu, a major tourism hub in the Himalayan region, have left the area to ward off the chilling cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel owners, who are busy during the tourist season, have also started leaving the Khumbu area to escape the harsh winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to a local Damu Sherpa, around 70 percent of the businessmen and general public in the area have left Khumbu region. Most of them go to Kathmandu while some to India's Buddhagaya for pilgrimage during winter. Other descend to warmer places during winter.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Toya Shrestha of Lukla said the Khumbu area has turned deserted with the exit of most of the businessmen and locals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the airport, hotels/ and odges, camping sites and sight-seeing places of Khumbu, which used to be crowded with tourists, are now deserted during winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lamakaji Sherpa of Namche said that Namche, Gokyo, Kalapathar, Everest base camp and other places known as the gateway to Mt. Everest have also become deserted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although some hotels are still open, the life of businessmen is becoming difficult. According to the Civil Aviation Authority of Nepal (CAAN)’s branch office in Lukla, there are only five to six flights per day in Lukla, while there used to be more than 100 flights daily during the peak season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to its geographical remoteness and high mountainous area, people can no longer stay in this area during the winter months. A local informed that they live in this region only for six months in a year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in cold, a number of people shifting to Salleri, the headquarters of the mountainous district Solukhumbu, has increased. From children to the elderly, people have started setting fire on the streets to avoid the cold. Dawa Sherpa of Salleri said that the cold has especially affected the elderly and children. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nawaraj Parajuli of the Meteorological Centre, Salleri, said the temperature in Salleri has been steadily decreasing for the past one week. Salleri recorded a temperature of minus two degrees Celsius on Tuesday, he said. According to him, the temperature in the district is the lowest this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Life in the upper parts of the district has been further affected by the cold. Angfurwa Sherpa, a local, said that the cold has crippled daily life in the mountainous areas of Namche, Lukla and Fakding. There has been a problem in water supply in Khumbu area of the district as the water has frozen in the pipe due to cold. Drinking water supply has been affected in the Sagarmatha region with water pipes freezing due to extreme cold. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nuru Sherpa, a local, said that the supply of drinking water has been stopped in various parts of Khumbu as the frozen water did not melt even during in the afternoon.</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"">"In Khumbu, even the edible oil freezes. It melts in presence of the sun. The water stored inside the house does not melt throughout the day if there is no sun. The situation here is different from what you think. Life is difficult. That is why most of the people leave Khumbu. Only a few of us are left in the villages." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the locals, the temperature in the upper parts of the district has dropped to minus 17 degrees Celsius. The cold has affected development works as well as other daily activities, while the movement of people in the villages is decreasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lhakpa Sherpa, a teacher at PK Secondary School, Loding, said that people are compelled to spend time by lighting fire. He added that the schools are closed. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19845', 'image' => '20240131112418_258482_218714068152324_7011012_o.jpg', 'article_date' => '2024-01-31 11:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20117', 'article_category_id' => '1', 'title' => 'IMF Lifts Global Growth Forecast Citing Unexpected 'Resilience'', 'sub_title' => '', 'summary' => 'January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 31: The IMF announced Tuesday it has raised its 2024 global growth forecast to 3.1 percent, citing unexpected "resilience" in major advanced and emerging market economies around the world.<br /> The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International Monetary Fund's previous forecast in October.<br /> "We had simultaneously less inflation and more growth," IMF chief economist Pierre-Olivier Gourinchas told reporters ahead of the report's publication.<br /> "It's not just a US story. There was a lot of resilience in many, many parts of the world in the last year and going into 2024," he said, highlighting countries including China, Russia, Brazil and India.<br /> Despite the upgrade, global growth is predicted to remain below its recent historical average of 3.8 percent this year and next due to continued impacts of elevated interest rates, the withdrawal of pandemic-related government support, and persistently low levels of productivity.<br /> Among the Group of Seven (G7) advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.<br /> The IMF's overall inflation outlook remained unchanged at 5.8 percent for 2024, but that masks a significant underlying shift between richer and poorer countries.<br /> Inflation in advanced economies is now forecast to be 2.6 percent in 2024, down 0.4 percentage points from October, while emerging and developing economies are expected to hit an annual inflation rate of 8.1 percent, up 0.3 percentage points.<br /> Much of the increase can be attributed to ongoing trouble in Argentina, where consumer price increases exceeded 200 percent last year amid an ongoing economic crisis.<br /> <strong>US, China lift growth</strong><br /> The United States and China, the world's two largest economies, both saw significant upgrades to their growth outlook for 2024, putting them on track for a less substantial slowdown than the IMF previously anticipated.<br /> The IMF now expects the US economy to grow by 2.1 percent in 2024 -- an election year in which President Joe Biden is seeking a second term -- down slightly from an estimated 2.5 percent in 2023.<br /> This is largely due to the "statistical carryover effects from the stronger-than-expected growth outcome for 2023," the IMF said.<br /> China's economy is meanwhile on track to hit 4.6 percent growth this year, down from 5.2 percent last year.<br /> The better-than-expected growth figures are down to property sector "difficulties" having a less severe impact than the IMF had anticipated, and also because of the "significant fiscal support coming from the authorities," Gourinchas said.<br /> An ongoing bright spot in the global economy continues to be India, which the IMF now expects to grow by 6.5 percent this year -- up 0.2 percentage points from October -- following an estimated growth rate of 6.7 percent in 2023.<br /> The Fund also increased the growth prospects for Russia, Iran and Brazil for the year ahead.<br /> <strong>Challenges remain in Europe</strong><br /> While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."<br /> Germany is once again set to be the slowest-growing G7 economy, expanding by just 0.5 percent this year after contracting by an estimated 0.3 percent in 2023.<br /> The United Kingdom, France and Italy are all also expected to see growth of 1.0 percent or less this year, while Spain's economy is forecast to fare slightly better, growing by 1.5 percent.<br /> The tepid euro area growth reflects "weak consumer sentiment, the lingering effects of high energy prices, and weakness in interest-rate-sensitive manufacturing and business investment," the IMF noted in the WEO report.<br /> Despite some challenging forecasts, the overall picture in 2024 looks set to be less gloomy for many countries than it was in 2024: Every country cited in the WEO report save Argentina is set to have positive growth this year.<br /> This is an improvement from 2023, when four out of the 30 economies cited in the report are estimated to have contracted, according to the IMF. -- AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19844', 'image' => '20240131105230_iiii.jpg', 'article_date' => '2024-01-31 10:51:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20116', 'article_category_id' => '1', 'title' => 'Loan Shark Victims Launch 'March for Justice'', 'sub_title' => '', 'summary' => 'Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 31: Usury victims hailing from various districts initiated a 'March for Justice' from Mechi Bridge at Kakadvitta in Jhapa district, from Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Organized by the Usury Victims Peasants Workers Struggle Committee, the participants, totaling 50 individuals from Jhapa, Sunsari, Siraha, and Saptari districts, have commenced a 15-day journey on foot towards Kathmandu, equipped with arrangements of food and shelter.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Half of the participants are women, reflecting the diverse impact of usury on the community. Simultaneously, another group of victims from Mahendranagar in the western part of the country has also begun their march for justice. The two groups plan to converge in Chitwan and continue their joint march towards Kathmandu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Awadesh Kushwaha, the Committee's Central Chairperson, launched the commencement of the march on Martyrs Day, presenting a six-point demand to the government. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The demands include cancellation of all fraudulent documents associated with usury, revocation of property rights transferred to exploitative lenders, and formulation of stringent laws to address financial crimes related to usury.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other demands include establishment of a high-powered judicial commission, opening new applications for the record-keeping of usury victims, arrest of exploitative moneylenders, and investigation of unilaterally verified usury-related deeds at the local level. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Kushwaha emphasized the urgency of government attention to the victims' demands. He warned that they would not leave the street until their demands were addressed. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-31', 'modified' => '2024-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '19843', 'image' => '20240131061842_collage (19).jpg', 'article_date' => '2024-01-31 06:17:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20115', 'article_category_id' => '1', 'title' => 'Nepal Makes Slight Improvement in Corruption Perceptions Index', 'sub_title' => '', 'summary' => 'January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: Nepal has been ranked 108th position in the Corruption Perceptions Index (CPI) report launched by the Transparency International (TI), showing a slight improvement than in 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, it was ranked in the 110th position with a score of 34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the assessment of 180 countries in the world, Denmark is in the first position with a score of 90 indicating the lowest corruption followed by Finland in the second position, New Zealand in the third, Norway in the fourth and Singapore in the fifth. </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"">Sweden, Switzerland, the Netherlands, Germany and Luxemburg complete the top ten least corrupt nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other end of the table, Somalia is ranked 180th indicating the highest level of corruption while Venezuela, Syria, South Sudan and Yemen also fall on the bottom end of the table. Nepal's two closest neighbours India ranked 93rd with a score of 39 and China 76th with a score of 42. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was based on analysis of data from the World Bank, World Economic Forum and other organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index is calculated using data from 13 external sources. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to TI, its 29th annual corruption perceptions index assess how countries have responded to corruption over time, reviewing progress and failures over the last decade and beyond. It is specifically focused on how weakening justice systems contribute to a lack of accountability of public officials, thereby allowing corruption to thrive. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report states that over two-third countries' score is below 50 out of 100, strongly indicating that they have serious corruption problems. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19842', 'image' => '20240130043343_collage (32).jpg', 'article_date' => '2024-01-30 16:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20114', 'article_category_id' => '1', 'title' => 'Government’s Unstable Policy a Deterrent in Developing Startup Ecosystem in the Country', 'sub_title' => '', 'summary' => 'January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The government has been promising to develop the startup ecosystem in the country but its actions indicate otherwise. Questions are being raised about the government’s commitment to developing the startup ecosystem after the introduction of a new procedure that is likely to disrupt the concessional loans under the startup programme in Nepal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About a year ago, the government had initiated the process of distributing subsidized loan for startups by calling for applications to provide concessional loans to 100 start-up enterprises. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The startup entrepreneurs, who were in the final stage of obtaining concessional loans, have been disappointed after the government introduced the Startup Enterprise Loan Operation Procedure 2080 as the new procedure contradicts the process they have fulfilled so far. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">When the Department of Industries asked for applications for start-up loans, it received a total of 382 applications. The government had allocated Rs 250 million to provide concessional loans to 100 startup enterprises selected from among those applicants. However, the budget has been frozen as the new procedure has changed the agency that executes startup loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A total of 169 startup enterprises that have reached the stage of further evaluation will not get loans through the Department of Industries anymore.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, the government had issued the 'Startup Business Loan Disbursement Procedure 2079' on February 22 last year. The procedure assigned the responsibility of implementing the concessional loan program to the Department of Industries. Following the same procedure, the department had asked for applications with a policy of providing concessional loans up to Rs 2.5 million per startup. Less than a year later, the government approved the Start-up Enterprise Loan Operation Procedure 2080 on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Now, the Industrial Business Development Foundation will do the work of facilitating loans to start-up enterprises, seeking for applications. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the government has introduced a policy of providing subsidizing loan to help startup enterprises, not a single entity has been able to benefit from the government's announcement to develop the startup ecosystem due to its instable policy.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Jeevlal Bhusal, Joint Secretary of the Ministry of Industry, Commerce and Supplies, informed that the Startup Enterprise Loan Operation Procedure 2080 will now be implemented by the Industrial Business Development Foundation. "The Department of Industries is not a body with expertise in this regard," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that no further process will be carried out regarding the application submitted to the Industry Department last year. "Old applicants (who have submitted their applications to the department) can apply again," said Bhusal, "Since last year's budget has been frozen, it cannot be provided to the startups." </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new procedure approved by the government has designated 16 sectors and enterprises as startups. It is said that the loan will be provided in the areas specified by the procedure and the loan period will be 5 years. 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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has allocated Rs 250 million for this program in the current fiscal year as well. Bhusal claimed that the program will be implemented this year. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19841', 'image' => '20240130031058_startup.jpg', 'article_date' => '2024-01-30 15:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20112', 'article_category_id' => '1', 'title' => 'Office of the Auditor General without Leadership for Last Eight Months', 'sub_title' => 'Government Dilly-Dallying Appointment of Auditor General', 'summary' => 'January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 30: The Office of the Auditor General has been running under the acting auditor general for eight months. The post of Auditor General has remained vacant ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement on Friday due to the age limit. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This clearly shows that the government is hesitating to appoint the Auditor General. Due to the lack of leadership, the office has not been able to formulate a new strategy while the body responsible to monitor the government’s finances has not been able to settle arrears worth billions of rupees.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the constitutional provisions, the term of the Auditor General is 6 years.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the beginning of the current fiscal year, the Secretariat of the Constitutional Council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General. 15 people have applied for the post of Auditor General. Among those applying to become the Auditor General who will serve a 6-year term are Acting Auditor General Kafle, who recently went on compulsory retirement, former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Toyam Raya, the chief statistics officer of the National Statistics Office, is the sitting secretary who applied, while former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana have also applied for the coveted post. Similarly, chartered accountants Subodh Karna and Hari Silwal have also applied for the position.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to non-compliance with the laws and regulations, the arrears to be settled by the Auditor General's 60th annual report has reached Rs 959 billion. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Baikuntha Bahadur Adhikari, the spokesperson for the Office of the Auditor General, said that he is confident that the Auditor General will be appointed soon as per the constitutional provisions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19840', 'image' => '20240130023638_oag-building.jpg', 'article_date' => '2024-01-30 14:35:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20113', 'article_category_id' => '1', 'title' => 'Govt Finalises Title and Logo of Third Investment Summit', 'sub_title' => '', 'summary' => 'January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 30: The government has finalized the logo and title of the third investment summit which Nepal is scheduled to host on coming April 28 and 29. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event has been named 'Emerging Nepal Investment Summit- 2024', according to the Summit Secretariat. The second meeting of the Investment Summit Steering Committee decided the title of the event, according to Joint-Secretary and Investment Board’s Spokesperson Pradyumna Prasad Upadhyay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Steering Committee coordinated by the finance minister, the Implementation Committee led by the chief secretary, and the Technical Committee headed by the secretary at the Ministry of Industry, Commerce, and Supplies have been formed in view of hosting the event. The Summit's Secretariat coordinated by the IBN Chief Executive Officer is located at the Office of the Investment Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A taskforce formed to recommend legal amendments for the Summit has proposed amendments to around one dozen of acts and regulations. As the pre-event of the Summit, the IBN last Friday held a workshop on 'Unlocking Nepal's Investment Potential: Collaborative Strategies for Economic Growth,' in Kathmandu. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-30', 'modified' => '2024-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '19839', 'image' => '20240130024837_investment.jpg', 'article_date' => '2024-01-30 14:48:11', '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
