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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1331', 'article_category_id' => '137', 'title' => 'India Eases Power Import', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p> <p> <strong>Gross generation </strong></p> <p> <img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p> <p> The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p> <table border="0" cellpadding="25" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <strong><span style="font-size:14px;">‘Big Opportunity for Nepal’ </span></strong></p> <p> The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned. </p> <p> The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p> <div> </div> </td> </tr> </tbody> </table> <p> </p> <table border="0" cellpadding="20" width="99%"> </table> <p> </p>', 'published' => true, 'created' => '2013-07-08', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.', 'sortorder' => '1193', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1241', 'article_category_id' => '137', 'title' => 'Countries Luring Chinese Tourists', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies. China last year passed Germany and the U.S. to become the world’s biggest source of tourists. Similarly, a report published in April showed that Chinese tourists surpassed Germans tourists in spending. According to the UN World Tourism Organization Chinese tourists spent $102 billion worldwide last year. </span></p> <p> As the Chinese are now a lot more affluent than they were 10 years ago, they can afford more luxury products in Europe and the United States. Because of this, many are prone to prodigious spending. It is interesting to note that Chinese tourists spend more on shopping than sightseeing. There is a simple psychology to this: After decades of deprivation and conformism, Chinese consumers regard expensive consumer goods as trophies of success. Chinese tourists largely prefer lively, loud environments where they can shop for luxury goods, while European tourists tend to prefer a more tranquil, back-to-nature kind of experience. The Chinese demand for luxury goods has increased for a number of reasons, including rapidly increasing disposable income, sophistication of Chinese consumers, and rapid urbanization. </p> <p> Watching this tendency, countries across the world are preparing to entice Chinese tourists. </p> <p> <strong>Cambodia Unveils Strategy to Entice Chinese Tourists </strong></p> <p> Cambodia’s Ministry of Tourism on Wednesday finalized its 5-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. To reach the goal, Cambodia would continue broadening promotion of Cambodian tourism destinations to China and encouraging more direct flight connection between the two countries. According to the strategic plan, the country would prepare entry-exit application forms and announcements at airports in Chinese language, write signs on main roads in Chinese language, study to establish China Town and train more Chinese speaking tour guides. </p> <p> <strong>Australia Eyes Buddha and Baccarat</strong></p> <p> Australia, is also preparing various strategies to attract Chinese tourist. A A$ 500 million theme park is being built at Wyong region outside Sydney that will include a full-size replica of Beijing’s Forbidden City and a nine-storey temple housing a giant statue Buddha. Similarly, two companies are said to be developing casinos in Sydney to attract gambling tourists from mainland China. </p> <p> <strong>Israel Streamlines Visa Policy </strong></p> <p> The Israeli Embassy in China announced a set of new visa policies for Chinese tourists. The new rules introduce tourist visas that individuals can apply for directly, as well as a simplified visa application process for business visas and other favorable policies targeting residents of the cities of Beijing, Shanghai and Guangzhou. The new visa policies are part of Israeli efforts to consolidate its share in the rapidly expanding Chinese tourism market. (Agencies)</p> <p> </p> <p> </p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies...', 'sortorder' => '1103', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1171', 'article_category_id' => '137', 'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p> <p> The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p> <p> The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p> <p> As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p> <p> The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p> <p> <span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p> <p> Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p> <p> ‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br /> <br /> </p>', 'published' => true, 'created' => '2013-06-28', 'modified' => '2013-06-28', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate focus news of nepal', 'sortorder' => '1034', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1142', 'article_category_id' => '137', 'title' => 'South Asia To Take Worst Hit Of Climate Change', 'sub_title' => '', 'summary' => null, 'content' => '<p> South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br /> <br /> The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br /> <br /> <strong>(The Hindu Business Line)<br /> <br /> Nepal Becoming More Vulnerable</strong><br /> <br /> Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br /> <br /> Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br /> <br /> Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br /> <br /> ‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br /> </p>', 'published' => true, 'created' => '2013-06-25', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'sortorder' => '1005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $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] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1331', 'article_category_id' => '137', 'title' => 'India Eases Power Import', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p> <p> <strong>Gross generation </strong></p> <p> <img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p> <p> The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p> <table border="0" cellpadding="25" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <strong><span style="font-size:14px;">‘Big Opportunity for Nepal’ </span></strong></p> <p> The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned. </p> <p> The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p> <div> </div> </td> </tr> </tbody> </table> <p> </p> <table border="0" cellpadding="20" width="99%"> </table> <p> </p>', 'published' => true, 'created' => '2013-07-08', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.', 'sortorder' => '1193', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1241', 'article_category_id' => '137', 'title' => 'Countries Luring Chinese Tourists', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies. China last year passed Germany and the U.S. to become the world’s biggest source of tourists. Similarly, a report published in April showed that Chinese tourists surpassed Germans tourists in spending. According to the UN World Tourism Organization Chinese tourists spent $102 billion worldwide last year. </span></p> <p> As the Chinese are now a lot more affluent than they were 10 years ago, they can afford more luxury products in Europe and the United States. Because of this, many are prone to prodigious spending. It is interesting to note that Chinese tourists spend more on shopping than sightseeing. There is a simple psychology to this: After decades of deprivation and conformism, Chinese consumers regard expensive consumer goods as trophies of success. Chinese tourists largely prefer lively, loud environments where they can shop for luxury goods, while European tourists tend to prefer a more tranquil, back-to-nature kind of experience. The Chinese demand for luxury goods has increased for a number of reasons, including rapidly increasing disposable income, sophistication of Chinese consumers, and rapid urbanization. </p> <p> Watching this tendency, countries across the world are preparing to entice Chinese tourists. </p> <p> <strong>Cambodia Unveils Strategy to Entice Chinese Tourists </strong></p> <p> Cambodia’s Ministry of Tourism on Wednesday finalized its 5-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. To reach the goal, Cambodia would continue broadening promotion of Cambodian tourism destinations to China and encouraging more direct flight connection between the two countries. According to the strategic plan, the country would prepare entry-exit application forms and announcements at airports in Chinese language, write signs on main roads in Chinese language, study to establish China Town and train more Chinese speaking tour guides. </p> <p> <strong>Australia Eyes Buddha and Baccarat</strong></p> <p> Australia, is also preparing various strategies to attract Chinese tourist. A A$ 500 million theme park is being built at Wyong region outside Sydney that will include a full-size replica of Beijing’s Forbidden City and a nine-storey temple housing a giant statue Buddha. Similarly, two companies are said to be developing casinos in Sydney to attract gambling tourists from mainland China. </p> <p> <strong>Israel Streamlines Visa Policy </strong></p> <p> The Israeli Embassy in China announced a set of new visa policies for Chinese tourists. The new rules introduce tourist visas that individuals can apply for directly, as well as a simplified visa application process for business visas and other favorable policies targeting residents of the cities of Beijing, Shanghai and Guangzhou. The new visa policies are part of Israeli efforts to consolidate its share in the rapidly expanding Chinese tourism market. (Agencies)</p> <p> </p> <p> </p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies...', 'sortorder' => '1103', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1171', 'article_category_id' => '137', 'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p> <p> The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p> <p> The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p> <p> As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p> <p> The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p> <p> <span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p> <p> Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p> <p> ‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br /> <br /> </p>', 'published' => true, 'created' => '2013-06-28', 'modified' => '2013-06-28', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate focus news of nepal', 'sortorder' => '1034', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1142', 'article_category_id' => '137', 'title' => 'South Asia To Take Worst Hit Of Climate Change', 'sub_title' => '', 'summary' => null, 'content' => '<p> South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br /> <br /> The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br /> <br /> <strong>(The Hindu Business Line)<br /> <br /> Nepal Becoming More Vulnerable</strong><br /> <br /> Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br /> <br /> Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br /> <br /> Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br /> <br /> ‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br /> </p>', 'published' => true, 'created' => '2013-06-25', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'sortorder' => '1005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $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] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1331', 'article_category_id' => '137', 'title' => 'India Eases Power Import', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p> <p> <strong>Gross generation </strong></p> <p> <img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p> <p> The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p> <table border="0" cellpadding="25" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <strong><span style="font-size:14px;">‘Big Opportunity for Nepal’ </span></strong></p> <p> The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned. </p> <p> The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p> <div> </div> </td> </tr> </tbody> </table> <p> </p> <table border="0" cellpadding="20" width="99%"> </table> <p> </p>', 'published' => true, 'created' => '2013-07-08', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.', 'sortorder' => '1193', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1241', 'article_category_id' => '137', 'title' => 'Countries Luring Chinese Tourists', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies. China last year passed Germany and the U.S. to become the world’s biggest source of tourists. Similarly, a report published in April showed that Chinese tourists surpassed Germans tourists in spending. According to the UN World Tourism Organization Chinese tourists spent $102 billion worldwide last year. </span></p> <p> As the Chinese are now a lot more affluent than they were 10 years ago, they can afford more luxury products in Europe and the United States. Because of this, many are prone to prodigious spending. It is interesting to note that Chinese tourists spend more on shopping than sightseeing. There is a simple psychology to this: After decades of deprivation and conformism, Chinese consumers regard expensive consumer goods as trophies of success. Chinese tourists largely prefer lively, loud environments where they can shop for luxury goods, while European tourists tend to prefer a more tranquil, back-to-nature kind of experience. The Chinese demand for luxury goods has increased for a number of reasons, including rapidly increasing disposable income, sophistication of Chinese consumers, and rapid urbanization. </p> <p> Watching this tendency, countries across the world are preparing to entice Chinese tourists. </p> <p> <strong>Cambodia Unveils Strategy to Entice Chinese Tourists </strong></p> <p> Cambodia’s Ministry of Tourism on Wednesday finalized its 5-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. To reach the goal, Cambodia would continue broadening promotion of Cambodian tourism destinations to China and encouraging more direct flight connection between the two countries. According to the strategic plan, the country would prepare entry-exit application forms and announcements at airports in Chinese language, write signs on main roads in Chinese language, study to establish China Town and train more Chinese speaking tour guides. </p> <p> <strong>Australia Eyes Buddha and Baccarat</strong></p> <p> Australia, is also preparing various strategies to attract Chinese tourist. A A$ 500 million theme park is being built at Wyong region outside Sydney that will include a full-size replica of Beijing’s Forbidden City and a nine-storey temple housing a giant statue Buddha. Similarly, two companies are said to be developing casinos in Sydney to attract gambling tourists from mainland China. </p> <p> <strong>Israel Streamlines Visa Policy </strong></p> <p> The Israeli Embassy in China announced a set of new visa policies for Chinese tourists. The new rules introduce tourist visas that individuals can apply for directly, as well as a simplified visa application process for business visas and other favorable policies targeting residents of the cities of Beijing, Shanghai and Guangzhou. The new visa policies are part of Israeli efforts to consolidate its share in the rapidly expanding Chinese tourism market. (Agencies)</p> <p> </p> <p> </p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies...', 'sortorder' => '1103', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1171', 'article_category_id' => '137', 'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p> <p> The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p> <p> The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p> <p> As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p> <p> The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p> <p> <span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p> <p> Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p> <p> ‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br /> <br /> </p>', 'published' => true, 'created' => '2013-06-28', 'modified' => '2013-06-28', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate focus news of nepal', 'sortorder' => '1034', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1142', 'article_category_id' => '137', 'title' => 'South Asia To Take Worst Hit Of Climate Change', 'sub_title' => '', 'summary' => null, 'content' => '<p> South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br /> <br /> The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br /> <br /> <strong>(The Hindu Business Line)<br /> <br /> Nepal Becoming More Vulnerable</strong><br /> <br /> Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br /> <br /> Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br /> <br /> Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br /> <br /> ‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br /> </p>', 'published' => true, 'created' => '2013-06-25', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'sortorder' => '1005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1331', 'article_category_id' => '137', 'title' => 'India Eases Power Import', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p> <p> <strong>Gross generation </strong></p> <p> <img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p> <p> The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p> <table border="0" cellpadding="25" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <strong><span style="font-size:14px;">‘Big Opportunity for Nepal’ </span></strong></p> <p> The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned. </p> <p> The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p> <div> </div> </td> </tr> </tbody> </table> <p> </p> <table border="0" cellpadding="20" width="99%"> </table> <p> </p>', 'published' => true, 'created' => '2013-07-08', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.', 'sortorder' => '1193', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1241', 'article_category_id' => '137', 'title' => 'Countries Luring Chinese Tourists', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies. China last year passed Germany and the U.S. to become the world’s biggest source of tourists. Similarly, a report published in April showed that Chinese tourists surpassed Germans tourists in spending. According to the UN World Tourism Organization Chinese tourists spent $102 billion worldwide last year. </span></p> <p> As the Chinese are now a lot more affluent than they were 10 years ago, they can afford more luxury products in Europe and the United States. Because of this, many are prone to prodigious spending. It is interesting to note that Chinese tourists spend more on shopping than sightseeing. There is a simple psychology to this: After decades of deprivation and conformism, Chinese consumers regard expensive consumer goods as trophies of success. Chinese tourists largely prefer lively, loud environments where they can shop for luxury goods, while European tourists tend to prefer a more tranquil, back-to-nature kind of experience. The Chinese demand for luxury goods has increased for a number of reasons, including rapidly increasing disposable income, sophistication of Chinese consumers, and rapid urbanization. </p> <p> Watching this tendency, countries across the world are preparing to entice Chinese tourists. </p> <p> <strong>Cambodia Unveils Strategy to Entice Chinese Tourists </strong></p> <p> Cambodia’s Ministry of Tourism on Wednesday finalized its 5-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. To reach the goal, Cambodia would continue broadening promotion of Cambodian tourism destinations to China and encouraging more direct flight connection between the two countries. According to the strategic plan, the country would prepare entry-exit application forms and announcements at airports in Chinese language, write signs on main roads in Chinese language, study to establish China Town and train more Chinese speaking tour guides. </p> <p> <strong>Australia Eyes Buddha and Baccarat</strong></p> <p> Australia, is also preparing various strategies to attract Chinese tourist. A A$ 500 million theme park is being built at Wyong region outside Sydney that will include a full-size replica of Beijing’s Forbidden City and a nine-storey temple housing a giant statue Buddha. Similarly, two companies are said to be developing casinos in Sydney to attract gambling tourists from mainland China. </p> <p> <strong>Israel Streamlines Visa Policy </strong></p> <p> The Israeli Embassy in China announced a set of new visa policies for Chinese tourists. The new rules introduce tourist visas that individuals can apply for directly, as well as a simplified visa application process for business visas and other favorable policies targeting residents of the cities of Beijing, Shanghai and Guangzhou. The new visa policies are part of Israeli efforts to consolidate its share in the rapidly expanding Chinese tourism market. (Agencies)</p> <p> </p> <p> </p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As China moves towards being an economic superpower, its citizens have gained a greater ability to travel and spend internationally. Now, Chinese are increasingly the driving force for the world’s biggest tourism companies...', 'sortorder' => '1103', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1171', 'article_category_id' => '137', 'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p> <p> The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p> <p> The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p> <p> As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p> <p> The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p> <p> <span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p> <p> Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p> <p> ‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br /> <br /> </p>', 'published' => true, 'created' => '2013-06-28', 'modified' => '2013-06-28', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate focus news of nepal', 'sortorder' => '1034', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1142', 'article_category_id' => '137', 'title' => 'South Asia To Take Worst Hit Of Climate Change', 'sub_title' => '', 'summary' => null, 'content' => '<p> South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br /> <br /> The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br /> <br /> <strong>(The Hindu Business Line)<br /> <br /> Nepal Becoming More Vulnerable</strong><br /> <br /> Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br /> <br /> Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br /> <br /> Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br /> <br /> ‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br /> </p>', 'published' => true, 'created' => '2013-06-25', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'sortorder' => '1005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $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
