The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering…
The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering…
The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on…
February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY)…
February 4: The production of the state-owned Hetauda Cement Industry has been halted for five…
February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development…
February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of…
February 4: Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday)…
February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry…
February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province.…
The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal…
February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved…
February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the…
CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest…
February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become…
February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow…
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Tamang was in custody for investigation in the Civil Cooperatives scam. Although the court found him guilty on January 21, he was scheduled for appearance in the court on Monday to determine the punishment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court has also announced a year and half of imprisonment to Tamang's wife Srijana Shakya and slapped a fine of over Rs 1.35 billion Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In the same case, the Court pronounced verdict that Keshav Lal Shrestha will be put behind the bar for a year and half and over Rs 250 million has been sought as a recovery from the loss he caused. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">All the properties owned by Ichchharaj Tamang, Srijana Shakya, Keshav Lal Shrestha, Meena Shrestha, Pratikshya Tamang and Pratistha Tamang shall be confiscated, the Court delivered in its verdict.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against former Chairperson of Civil Cooperatives, Ichchharaj, and six members of his family on September 1, 2022. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-05', 'modified' => '2024-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '19893', 'image' => '20240205061322_collage (23).jpg', 'article_date' => '2024-02-05 06:11:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20165', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 5.31 Points; Continues Its Downward Journey', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 4: The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 307 scrips were traded through 70,790 transactions. A total of 9,272,782 shares changed hands, resulting in a total turnover amount of Rs 3.24 billion. </span></span><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 33 crores, closing at a market price of Rs 688 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) accomplished the highest gain at 10% and triggered the positive circuit for the day. On the contrary, Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) lost the most at 5.37%, closing at a market price of Rs 1655 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 the Development Bank Index, Finance Index, Investment Index, and NonLife Insurance.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index, Finance, Investment, and Nonlife Index lost 0.66%, 0.40%, 0.09%, and 0.51%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In a similar vein, the Sensitive Index, Float Index, and Sensitive Float Index lost 0.16%, 0.25%, and 0.16%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19892', 'image' => '20240204055629_collage (4).jpg', 'article_date' => '2024-02-04 17:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20164', 'article_category_id' => '1', 'title' => 'Five Finance Companies Record Losses in Second Quarter', 'sub_title' => 'Non-Performing Loans of all Fifteen Finance Companies Increase', 'summary' => 'February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the financial statements, 10 finance companies have made profit while the remaining five companies suffered losses during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Samriddhi Finance Company, Central Finance, Reliance Finance, Progressive Finance and Guheswari Merchant Banking and Finance Company are in losses. Among these five companies, Progressive Finance incurred the highest loss at Rs 105.7 million. In the current fiscal year, Progressive Finance's net interest income and operating profit decreased while the bad loans increased. The bad debt of this company was 4.91 percent in the second quarter of last year, but it has increased to 11.45 percent in the same period of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The non-performing loans (NPLs) of almost all finance companies increased, according to the second quarter financial statements. Like commercial and development banks, NPLs of finance companies have also increased. Because of bad debts, the profits of finance companies have been compromised due to the provisioning of a large amount of income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent economic recession in the country is having a great impact on business. Borrowers have not been able to repay their loans on time. As a result, bad loans have increased. Among the 15 finance companies, Gorkhaz Finance, Manjushree Finance, ICFC Finance, Pokhara Finance, Goodwill Finance, Multipurpose Finance, Best Finance, Janaki Finance, Nepal Finance and Shree Investment and Finance are in profit. Among these 10 profitable finance companies, Gorkhaz Finance has earned the highest net profit of Rs 121.6 million. Nepal Finance made the lowest net profit of Rs. 812,000 thousand in the review period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19891', 'image' => '20240204034414_Business-Loss.jpg', 'article_date' => '2024-02-04 15:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20163', 'article_category_id' => '1', 'title' => 'Production of Hetauda Cement Industry Halted Since Five Months ', 'sub_title' => '', 'summary' => 'February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months.', '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"">February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months. The industry administration has said that production could not be carried out due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The technical and administrative staff and workers of the industry have become jobless due to the lack of cement production. Basanta Kumar Pandey, general manager of the industry, said that the financial crisis of the industry is deepening due to the lack of production. The company has been operating in loss for the past four fiscal years.</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"">Pandey revealed that the industry is unable to purchase coal due to the lack of funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of funds, some retired employees have complained that they are not getting gratuity. According to the industry, the number of employees who have not received the gratuity amount stands at 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The cement factory used to produce 750 metric tons of cement daily but the production has been nil since October. At present, the industry is selling the stock of cement produced in the past. According to the industry, 249,456 sacks of cement have been sold so far in the current fiscal year.</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"">Pandey, the general manager of the industry, said that the factory has initiated the coal purchase process for production. He informed New Business Age that the production would be carried forward as soon as the supply of coal is available. The industry has called for tender bids to supply 13,000 tons of coal.</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"">During the fiscal year 076/77 to 078/79, the industry suffered a loss of Rs 654.7 million. Last year alone, there was a loss of Rs 235 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The All Nepal Labor Union has launched a protest demanding the operation of the industry. About 300 employees are currently employed in the industry on a daily wage basis as well as permanent staff. Meanwhile, the private sector-run Shivam and Riddhisiddhi cement industries are running continuously in Hetauda.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19890', 'image' => '20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-04 15:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20162', 'article_category_id' => '1', 'title' => 'Lower Seti Hydropower Project to Produce 520 Million Units of Electricity Annually', 'sub_title' => '', 'summary' => 'February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Kiran Kumar Shrestha, managing director of Tanahun Hydropower Limited, informed that they have submitted the EIA report along with suggestions to the regulatory body. The land acquisition process of the project has also been advanced. Shrestha said that the proposal has been submitted to the Ministry of Energy, Water Resources and Irrigation for approval to advance the land acquisition process required for various structures of the project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Under the project, a 32-meter high dam will be constructed on Seti River near Saranghat in Bandipur Rural Municipality-6 and Devghat Rural Municipality-3. In order to produce the electricity, the project plans to flow water through a 6.8 km long tunnel in Devghat Rural Municipality-3 and 4 to a semi-underground power plant to be built on the right bank of the Kaligandaki River at Devghat, which is located about 500 meters below the confluence of the Seti and Kali Gandaki rivers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project Chief Shyamji Bhandari said that some parts of Bandipur Rural Municipality-6, Byas Municipality-13, 14, Devghat Rural Municipality-2, 3 and 4, Rishing Rural Municipality-1 and 3, Abu Khaireni Rural Municipality-5 and 6, Bharatpur Metropolitan Municipality-29 will be affected by the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Electricity will be generated by constructing a semi-underground powerhouse in Devghat Rural Municipality-4 Gaighat. The generated electricity will be integrated into the national power system through the 220 KV Damauli-New Bharatpur transmission line constructed by the Tanahun hydropower project. For this, about two kilometers of transmission line should be constructed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">About 12 km long reservoir of semi-reservoir Lower Seti project will be extended from the dam site to Sundegaon. The project will generate 52 million units of electricity annually. The estimated cost of the project is Rs 25 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Initiatives have also been started to ensure investment for the project. Tanahun Hydropower Limited has already sent a letter to the Ministry of Energy, Water Resources and Irrigation requesting to facilitate investment from the Japan International Cooperation Agency (JICA) for the project through the Nepal Electricity Authority.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to Project Chief Bhandari, preparations are being made to call for bids in 2081 BS. A detailed study has been completed for the construction of the Lower Seti Hydropower Project. The project had appointed an expert group and proceeded with the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The company has already received the survey permission for electricity generation. In addition, an agreement was signed with a joint venture of India’s WAPCOS and Nippon Koi of Japan on April 12, 2019, for consulting services for the preparation of detailed engineering design and tender-related documents with the help of about USD 3.5 million received from the Asian Development Bank. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19889', 'image' => '20240204022819_lower seti.jpg', 'article_date' => '2024-02-04 14:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20160', 'article_category_id' => '1', 'title' => 'Govt Advances Study for Development of 5,763 Megawatts of Electricity ', 'sub_title' => '', 'summary' => 'February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Department of Electricity Development is carrying out study of eight projects of 100 MW capacity each. Likewise, 12 other projects having capacity less than 100 megawatts are also being studied. If things go as planned, the government is preparing to advance the development of those projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department is also carrying out the feasibility study of Khimti Those Shivalaya Hydropower Project of 1,720 megawatt capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the officials are also working on the study of 844 megawatt capacity Kaligandaki Multipurpose Project in the Kaligandaki River. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the feasibility studies of the Burbang Hydropower Project, Kokhajor reservoir-based project, Humla Karnali cascade, Kaligandaki-II, Lower Badigad Project and Mugu Karnali Hydropower Project have reached the final stage.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It may be noted that India recently signed an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. -- (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19887', 'image' => '20240204114050_hydro.jpg', 'article_date' => '2024-02-04 11:40:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20159', 'article_category_id' => '1', 'title' => 'Light Snowfall along with Rainfall Taking Place Today ', 'sub_title' => '', 'summary' => 'February 4: Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 4: <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning. </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"">The Department of Hydrology and Meteorology has predicted light rainfall some places in Gandaki and Lumbini provinces today 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"">The weather on Sunday morning was partly cloudy in the hill areas of Sudur Paschim, Karnali, Lumbini and Gandaki provinces while it remained mainly clear in the rest of the country due to the partial effect of the westerly winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, the weather this afternoon will be generally cloudy in many places of Karnali and Sudurpaschim provinces with light rain in some places in Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall will continue in the high and mountainous areas of the country later today but the weather in other parts of the country will improve and the temperature will gradually increase starting tomorrow, said meteorologist Govinda Jha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly to generally cloudy across the country tonight. There is possibility of light rain in some places of Sudur Paschim, Karnali, Lumbini and Gandaki Provinces and light snowfall in a few places in the mountainous region of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the minimum temperature of Kathmandu was recorded at 4.6 degrees Celsius on Sunday and the maximum temperature will remain between 15 and 17 degrees Celsius, according to the Weather Forecasting Division. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19886', 'image' => '20240204112755_20230308033942_Mustang.jpg', 'article_date' => '2024-02-04 11:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20158', 'article_category_id' => '1', 'title' => 'Global Gold Demand Hits Record High in 2023: Report ', 'sub_title' => '', 'summary' => 'February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The demand of central banks reached 1,037 tonnes in 2023, the second highest in history, according to the report released by the World Gold Council. Global gold-backed exchange-traded funds (ETFs) saw an annual outflow for the third consecutive year, losing 244 tonnes in 2023, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By contrast, the Chinese market saw an inflow of 10 tonnes of gold ETFs last year, which brought its total holdings of gold ETFs to 61.5 tonnes by the end of 2023. Global demand for gold bars and coins decreased 3 percent year on year, while jewelry consumption demand increased to 2,093 tonnes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China's economic recovery has driven up the demand for gold jewelry, and the country has become an important growth engine for the global gold jewelry market, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, total global gold supply increased by 3 percent year on year. Gold mine production in 2023 increased by 1 percent year on year to 3,644 tonnes, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the context of Nepal, the country imported gold worth Rs 22.35 billion in the fiscal year 2022/2023. According to the statistics of the Department of Customs, Nepal imported 29,16,586 grams of the precious yellow metal in the review year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The gold import in the last fiscal year marks a 42 percent decrease from the previous fiscal year (2021/2022) when Nepal imported gold worth Rs 35 billion. -- (With inputs from Xinhua/RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19885', 'image' => '20240204105722_gold newwww.jpg', 'article_date' => '2024-02-04 10:56:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20157', 'article_category_id' => '1', 'title' => 'Gandaki Province to Scrap 25-Year-Old Private Vehicles', 'sub_title' => '', 'summary' => 'February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. This is the first time that such a provision has been made for private vehicles in the country. So far, the provision of 20-year limit for operation is applicable only to public transport vehicles under the federal law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The new provision has come into effect in Gandaki Province after the Gandaki Province Vehicle and Transport Regulations, 2080, was published in the provincial gazette last Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Ministry of Physical Infrastructure Development and Transport Management, Tikaram Paudel, said that the age of private vehicles has been set at 25 years for the first time in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The limit for e-public vehicles is thirty years. The regulation mentions that the ministry can create and issue necessary standards to convert public and other vehicles into electric vehicles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Paudel said that the regulations have also provided legal ground to regulate and legalize the transport services provided through Ride Sharing apps. As per the new provision, transportation service can be provided through the use of Ride Sharing App at specified fares after completing the necessary procedures along with passenger insurance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The regulations have also increased the fine to be paid by taxis that do not run on the meter system. From now on, the minimum rate of fine will be increased to Rs 10,000 from existing 2,100. Furthermore, the road permit license can be suspended for six months as the maximum penalty. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are around 3,500 taxis operating in Gandaki Province including 2,500 in Pokhara alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19884', 'image' => '20240204102427_gandaki vehicle.jpg', 'article_date' => '2024-02-04 10:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20156', 'article_category_id' => '1', 'title' => 'NEA Mahottari Collects Over Rs 50 Million in Revenue', 'sub_title' => '', 'summary' => 'The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">February 3: The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif""> Rs 52.3 million was collected from fine and cable fixing. The NEA has upped monitoring of electricity leakage in recent months. The Centre informed that it recorded 297 cases of electricity leakage in six months. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Those involved in power leakage were fined by the Centre, according to Office Chief Jagannath Jha. More than Rs 2.7 million was collected in fine. </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Similarly, the Centre fixed power supply for 488 customers, which earned over Rs 30.8 million. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Moreover, from 424 new customers, Rs 11.4 million was collected. The distribution centre at Gaushala is providing service in the northern belt of district while the distribution centre at Jaleshwor in the southern belt. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">There are 10 municipalities and five rural municipalities in the district. NEA has intensified the campaign against electricity leakage in the district, according to Jha. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19883', 'image' => '20240204093458_collage (22).jpg', 'article_date' => '2024-02-04 09:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '20155', 'article_category_id' => '1', 'title' => 'Call to Return Nepali Recruits in Russian Army ', 'sub_title' => '', 'summary' => 'February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones. Organising a press conference in the capital on Friday, the family members demanded that the Nepalis enlisted in the Russian Army be rescued and brought back to the country safely. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at the event, Tina Ghimire requested the government to create a safe environment for her husband Padam Ghimire to return home. He is reportedly out of contact since the past few months. A permanent resident of Udayapur, Ghimire is a retired Nepalese Army personnel and spent around Rs 900,000 to join the Russian Army, according to his family. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, Sumi Chamling of Ilam requested the government to search for her brother Rajkumar Mukhiya who has been missing since joining the Russian Army. She also shared that Bikram Bhujel and Rajendra Tamang from her village had also joined the Russian Army and are out of contact at present. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandani Bista of Bhaktapur said that her husband Bibhajan, brother-in-law Nirajan and grandson Lokendra are in contact but wanted them to be returned back to the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, Suman Rai, who returned home after joining the Russian Army, drew the attention of the government to rescue and repatriate the Nepali nationals who have been recruited in the Russian Army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Foreign Affairs has urged Nepal citizens not to get recruited in the military service of the war-ravaged nations on the basis of false information or temptation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has repeatedly urged Russia not to recruit Nepali citizens in its military rank and file and to send back any Nepali citizen who is currently serving in the army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has also sought information from Russia about the number of Nepalis who have joined the Russian Army, in addition to the injured ones and their condition but to no avail. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19882', 'image' => '20240203103517_20240112111355_20220719459a988fb97e63ab3ae.jpg', 'article_date' => '2024-02-03 10:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20154', 'article_category_id' => '1', 'title' => 'KMC to Manage only Segregated Waste ', 'sub_title' => '', 'summary' => 'February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC says it will start the classification process from Ward No 5, 12 and 27 immediately. After some time, it will manage only the classified waste from all 32 wards. According to Rabin Man Shrestha, the head of KMC's Environment Management Department, even though the KMC had announced to manage waste only after classification a year and a half ago, the process was not implemented effectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC is also working towards identifying the land for managing the collected classified waste at Bancharedanda, said Shrestha. Along with the classification and collection of waste, the KMC will make arrangement for sale of recyclable waste materials that are found during the classification of the waste. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC also plans to make the residents of KMC aware about the benefits and need of classifying and separating garbage at source, he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19881', 'image' => '20240203102709_20200903113103_1599056781.jpg', 'article_date' => '2024-02-03 10:25:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20152', 'article_category_id' => '1', 'title' => 'Increase in Interest Rates Should Require Borrowers’ Consent: UML Chair Oli', 'sub_title' => '', 'summary' => 'CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 2: CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Addressing the 7th National Convention of the Nepal Bank, Insurance and Financial Institutions Employees' Association at the UML Central Office in Chyasal of Lalitpur on Friday, Oli stressed the need to make provisions mandating that banks take consent of the borrowers before they hike the bank interest rates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The UML Chair accused the banks and financial institutions of inflating interest rates unilaterally. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The banking interest on loans increases substantially in a short span of time putting borrowers in trouble to repay the loan, triggering the banks to seize the collateral and sell it”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Advising the banks and financial institutions to change the interest rates with consent of the borrowers, Oli held that banks have bigger duty of monitoring and helping their clients instead of seizing the collateral and selling it. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Oli also called for monitoring whether the amount invested by the banks is properly utilized or not. He reiterated that the banks should support the development and they should provide loans to those people willing to start a new venture from the small capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Dr Yub Raj Khatiwada urged the government to intensify efforts to improve the economy of the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19879', 'image' => '20240202061132_collage (21).jpg', 'article_date' => '2024-02-02 18:09:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20151', 'article_category_id' => '1', 'title' => 'Unannounced Power Cuts Causing Trouble for Industries', 'sub_title' => '', 'summary' => 'February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial. Ghising, who announced the end of load shedding, is now being criticized for not being able to provide regular electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, he cut the lines of around two dozen industries for non-payment of the electricity tariff for using the dedicated feeder and trunk line, drawing widespread criticism.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ghising convinced Prime Minister Pushpa Kamal Dahal to cut the lines to the industries but later the government instructed the NEA to restore the lines against the will of Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Council of Ministers even decided to settle the tax dispute by forming a commission against his will.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government directed the NEA to reconnect electricity to the industries until the commission finds a solution. The NEA has been accused of determining the electricity tariff of dedicated and trunk lines arbitrarily.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Even though the NEA has reconnected the lines, the industries complain that they are not getting the required amount of electricity and that there is power cuts for <span style="font-family:"Arial Unicode MS","sans-serif"">10</span> to <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours a day.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The big industries of Bara-Parsa, which is the country's biggest industrial corridor, have been severely affected by this. The industrialists of Bara-Parsa, who have been affected by the power cut, have requested Ghising to provide regular power supply to the industries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They have suggested him to step down if he cannot solve the problem.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“At one time, he was praised for getting rid of load shedding. Now, it is better for him to resign than to court controversy,” said one of the industrialists.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They said that industries that produce as iron, cement and other industries that require more electricity have been badly affected by the erratic power supply as those industries were built with large investments. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Dipesh Agarwal, chairman of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, they are facing <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours of power cut every day in the industries of the corridor. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"When the line is cut without any prior notice, it cause damage to the panel boards, motors and other equipment of the industry. It results in the wastage of raw materials and the quality of the product is compromised,” said Agrawal, adding, “Our industry was shut down for five days when one of the equipment broke down. Who will provide the compensation?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Industrialists said that it is becoming difficult to operate the industries due to frequent power cuts. The industry employs workers in <span style="font-family:"Arial Unicode MS","sans-serif"">8-</span>hour shifts. They say that there is a problem in the management of workers since there is no fixed time for power cuts.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists complained that they have to pay the workers even if they have no work due to power cut. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Awadhesh Dube, head of Nepal Electricity Authority, Birgunj Distribution Center, says that they are forced to halt electricity supply to the industries for load management due to the decrease in electricity production and less import from India. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The authority has been managing the demand for electricity by importing energy from India when the production is low in winter. At present, there has been a decline in import of electricity,” he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists have requested the authority to make a timetable if it has to cut electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, said that they met the Deputy Executive Director of the Authority, Manoj Silwal, and requested him to prepare a schedule. "We face lots of problems if the electricity supply is halted randomly,” he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19878', 'image' => '20240202025118_elec.jpg', 'article_date' => '2024-02-02 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20150', 'article_category_id' => '1', 'title' => 'Over 5,400 Hectares of Land in Kailali, Kanchanpur get Irrigation Facility ', 'sub_title' => '', 'summary' => 'February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Groundwater Resources and Irrigation Division Development Office, the irrigation facility has been provided to 5,487 hectares of land so far after the country adopted the federal structure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Division Chief Shrawan Khanal said a total of 140 deep tube-wells have been installed in Kailai, Kanchanpur and Dadeldhura districts after the establishment of provinces. Out of the installed deep tube-wells, 91 are in operation while other structures are in course of construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deep and shallow tube-wells have been installed in order to provide irrigation facility to the farms of the farmers throughout the year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal added that </span>t<span style="font-family:"Arial Unicode MS","sans-serif"">he Division Office did not allocate budget to install the shallow tube-wells in the current fiscal year as the responsibility was handed over to the local level to install shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that Rs 1.2 million budget was given to local levels under fiscal transfer to install shallow tube-wells. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19877', 'image' => '20240202022345_irrigat.jpg', 'article_date' => '2024-02-02 14:23:04', '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' => '20166', 'article_category_id' => '1', 'title' => 'Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion', 'sub_title' => '', 'summary' => 'The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 5: The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A bench comprising Chairperson of the Special Court Tek Narayan Kunwar and Justices Tejnarayan Singh Rai and Murari Babu Shrestha issued the verdict convicting Tamang on Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court, determining the punishment, pronounced the verdict, finding Tamang guilty. Tamang was in custody for investigation in the Civil Cooperatives scam. Although the court found him guilty on January 21, he was scheduled for appearance in the court on Monday to determine the punishment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court has also announced a year and half of imprisonment to Tamang's wife Srijana Shakya and slapped a fine of over Rs 1.35 billion Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In the same case, the Court pronounced verdict that Keshav Lal Shrestha will be put behind the bar for a year and half and over Rs 250 million has been sought as a recovery from the loss he caused. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">All the properties owned by Ichchharaj Tamang, Srijana Shakya, Keshav Lal Shrestha, Meena Shrestha, Pratikshya Tamang and Pratistha Tamang shall be confiscated, the Court delivered in its verdict.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against former Chairperson of Civil Cooperatives, Ichchharaj, and six members of his family on September 1, 2022. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-05', 'modified' => '2024-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '19893', 'image' => '20240205061322_collage (23).jpg', 'article_date' => '2024-02-05 06:11:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20165', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 5.31 Points; Continues Its Downward Journey', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 4: The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 307 scrips were traded through 70,790 transactions. A total of 9,272,782 shares changed hands, resulting in a total turnover amount of Rs 3.24 billion. </span></span><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 33 crores, closing at a market price of Rs 688 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) accomplished the highest gain at 10% and triggered the positive circuit for the day. On the contrary, Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) lost the most at 5.37%, closing at a market price of Rs 1655 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 the Development Bank Index, Finance Index, Investment Index, and NonLife Insurance.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index, Finance, Investment, and Nonlife Index lost 0.66%, 0.40%, 0.09%, and 0.51%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In a similar vein, the Sensitive Index, Float Index, and Sensitive Float Index lost 0.16%, 0.25%, and 0.16%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19892', 'image' => '20240204055629_collage (4).jpg', 'article_date' => '2024-02-04 17:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20164', 'article_category_id' => '1', 'title' => 'Five Finance Companies Record Losses in Second Quarter', 'sub_title' => 'Non-Performing Loans of all Fifteen Finance Companies Increase', 'summary' => 'February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the financial statements, 10 finance companies have made profit while the remaining five companies suffered losses during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Samriddhi Finance Company, Central Finance, Reliance Finance, Progressive Finance and Guheswari Merchant Banking and Finance Company are in losses. Among these five companies, Progressive Finance incurred the highest loss at Rs 105.7 million. In the current fiscal year, Progressive Finance's net interest income and operating profit decreased while the bad loans increased. The bad debt of this company was 4.91 percent in the second quarter of last year, but it has increased to 11.45 percent in the same period of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The non-performing loans (NPLs) of almost all finance companies increased, according to the second quarter financial statements. Like commercial and development banks, NPLs of finance companies have also increased. Because of bad debts, the profits of finance companies have been compromised due to the provisioning of a large amount of income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent economic recession in the country is having a great impact on business. Borrowers have not been able to repay their loans on time. As a result, bad loans have increased. Among the 15 finance companies, Gorkhaz Finance, Manjushree Finance, ICFC Finance, Pokhara Finance, Goodwill Finance, Multipurpose Finance, Best Finance, Janaki Finance, Nepal Finance and Shree Investment and Finance are in profit. Among these 10 profitable finance companies, Gorkhaz Finance has earned the highest net profit of Rs 121.6 million. Nepal Finance made the lowest net profit of Rs. 812,000 thousand in the review period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19891', 'image' => '20240204034414_Business-Loss.jpg', 'article_date' => '2024-02-04 15:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20163', 'article_category_id' => '1', 'title' => 'Production of Hetauda Cement Industry Halted Since Five Months ', 'sub_title' => '', 'summary' => 'February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months.', '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"">February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months. The industry administration has said that production could not be carried out due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The technical and administrative staff and workers of the industry have become jobless due to the lack of cement production. Basanta Kumar Pandey, general manager of the industry, said that the financial crisis of the industry is deepening due to the lack of production. The company has been operating in loss for the past four fiscal years.</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"">Pandey revealed that the industry is unable to purchase coal due to the lack of funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of funds, some retired employees have complained that they are not getting gratuity. According to the industry, the number of employees who have not received the gratuity amount stands at 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The cement factory used to produce 750 metric tons of cement daily but the production has been nil since October. At present, the industry is selling the stock of cement produced in the past. According to the industry, 249,456 sacks of cement have been sold so far in the current fiscal year.</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"">Pandey, the general manager of the industry, said that the factory has initiated the coal purchase process for production. He informed New Business Age that the production would be carried forward as soon as the supply of coal is available. The industry has called for tender bids to supply 13,000 tons of coal.</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"">During the fiscal year 076/77 to 078/79, the industry suffered a loss of Rs 654.7 million. Last year alone, there was a loss of Rs 235 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The All Nepal Labor Union has launched a protest demanding the operation of the industry. About 300 employees are currently employed in the industry on a daily wage basis as well as permanent staff. Meanwhile, the private sector-run Shivam and Riddhisiddhi cement industries are running continuously in Hetauda.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19890', 'image' => '20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-04 15:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20162', 'article_category_id' => '1', 'title' => 'Lower Seti Hydropower Project to Produce 520 Million Units of Electricity Annually', 'sub_title' => '', 'summary' => 'February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Kiran Kumar Shrestha, managing director of Tanahun Hydropower Limited, informed that they have submitted the EIA report along with suggestions to the regulatory body. The land acquisition process of the project has also been advanced. Shrestha said that the proposal has been submitted to the Ministry of Energy, Water Resources and Irrigation for approval to advance the land acquisition process required for various structures of the project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Under the project, a 32-meter high dam will be constructed on Seti River near Saranghat in Bandipur Rural Municipality-6 and Devghat Rural Municipality-3. In order to produce the electricity, the project plans to flow water through a 6.8 km long tunnel in Devghat Rural Municipality-3 and 4 to a semi-underground power plant to be built on the right bank of the Kaligandaki River at Devghat, which is located about 500 meters below the confluence of the Seti and Kali Gandaki rivers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project Chief Shyamji Bhandari said that some parts of Bandipur Rural Municipality-6, Byas Municipality-13, 14, Devghat Rural Municipality-2, 3 and 4, Rishing Rural Municipality-1 and 3, Abu Khaireni Rural Municipality-5 and 6, Bharatpur Metropolitan Municipality-29 will be affected by the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Electricity will be generated by constructing a semi-underground powerhouse in Devghat Rural Municipality-4 Gaighat. The generated electricity will be integrated into the national power system through the 220 KV Damauli-New Bharatpur transmission line constructed by the Tanahun hydropower project. For this, about two kilometers of transmission line should be constructed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">About 12 km long reservoir of semi-reservoir Lower Seti project will be extended from the dam site to Sundegaon. The project will generate 52 million units of electricity annually. The estimated cost of the project is Rs 25 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Initiatives have also been started to ensure investment for the project. Tanahun Hydropower Limited has already sent a letter to the Ministry of Energy, Water Resources and Irrigation requesting to facilitate investment from the Japan International Cooperation Agency (JICA) for the project through the Nepal Electricity Authority.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to Project Chief Bhandari, preparations are being made to call for bids in 2081 BS. A detailed study has been completed for the construction of the Lower Seti Hydropower Project. The project had appointed an expert group and proceeded with the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The company has already received the survey permission for electricity generation. In addition, an agreement was signed with a joint venture of India’s WAPCOS and Nippon Koi of Japan on April 12, 2019, for consulting services for the preparation of detailed engineering design and tender-related documents with the help of about USD 3.5 million received from the Asian Development Bank. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19889', 'image' => '20240204022819_lower seti.jpg', 'article_date' => '2024-02-04 14:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20160', 'article_category_id' => '1', 'title' => 'Govt Advances Study for Development of 5,763 Megawatts of Electricity ', 'sub_title' => '', 'summary' => 'February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Department of Electricity Development is carrying out study of eight projects of 100 MW capacity each. Likewise, 12 other projects having capacity less than 100 megawatts are also being studied. If things go as planned, the government is preparing to advance the development of those projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department is also carrying out the feasibility study of Khimti Those Shivalaya Hydropower Project of 1,720 megawatt capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the officials are also working on the study of 844 megawatt capacity Kaligandaki Multipurpose Project in the Kaligandaki River. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the feasibility studies of the Burbang Hydropower Project, Kokhajor reservoir-based project, Humla Karnali cascade, Kaligandaki-II, Lower Badigad Project and Mugu Karnali Hydropower Project have reached the final stage.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It may be noted that India recently signed an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. -- (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19887', 'image' => '20240204114050_hydro.jpg', 'article_date' => '2024-02-04 11:40:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20159', 'article_category_id' => '1', 'title' => 'Light Snowfall along with Rainfall Taking Place Today ', 'sub_title' => '', 'summary' => 'February 4: Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 4: <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning. </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"">The Department of Hydrology and Meteorology has predicted light rainfall some places in Gandaki and Lumbini provinces today 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"">The weather on Sunday morning was partly cloudy in the hill areas of Sudur Paschim, Karnali, Lumbini and Gandaki provinces while it remained mainly clear in the rest of the country due to the partial effect of the westerly winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, the weather this afternoon will be generally cloudy in many places of Karnali and Sudurpaschim provinces with light rain in some places in Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall will continue in the high and mountainous areas of the country later today but the weather in other parts of the country will improve and the temperature will gradually increase starting tomorrow, said meteorologist Govinda Jha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly to generally cloudy across the country tonight. There is possibility of light rain in some places of Sudur Paschim, Karnali, Lumbini and Gandaki Provinces and light snowfall in a few places in the mountainous region of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the minimum temperature of Kathmandu was recorded at 4.6 degrees Celsius on Sunday and the maximum temperature will remain between 15 and 17 degrees Celsius, according to the Weather Forecasting Division. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19886', 'image' => '20240204112755_20230308033942_Mustang.jpg', 'article_date' => '2024-02-04 11:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20158', 'article_category_id' => '1', 'title' => 'Global Gold Demand Hits Record High in 2023: Report ', 'sub_title' => '', 'summary' => 'February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The demand of central banks reached 1,037 tonnes in 2023, the second highest in history, according to the report released by the World Gold Council. Global gold-backed exchange-traded funds (ETFs) saw an annual outflow for the third consecutive year, losing 244 tonnes in 2023, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By contrast, the Chinese market saw an inflow of 10 tonnes of gold ETFs last year, which brought its total holdings of gold ETFs to 61.5 tonnes by the end of 2023. Global demand for gold bars and coins decreased 3 percent year on year, while jewelry consumption demand increased to 2,093 tonnes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China's economic recovery has driven up the demand for gold jewelry, and the country has become an important growth engine for the global gold jewelry market, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, total global gold supply increased by 3 percent year on year. Gold mine production in 2023 increased by 1 percent year on year to 3,644 tonnes, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the context of Nepal, the country imported gold worth Rs 22.35 billion in the fiscal year 2022/2023. According to the statistics of the Department of Customs, Nepal imported 29,16,586 grams of the precious yellow metal in the review year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The gold import in the last fiscal year marks a 42 percent decrease from the previous fiscal year (2021/2022) when Nepal imported gold worth Rs 35 billion. -- (With inputs from Xinhua/RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19885', 'image' => '20240204105722_gold newwww.jpg', 'article_date' => '2024-02-04 10:56:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20157', 'article_category_id' => '1', 'title' => 'Gandaki Province to Scrap 25-Year-Old Private Vehicles', 'sub_title' => '', 'summary' => 'February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. This is the first time that such a provision has been made for private vehicles in the country. So far, the provision of 20-year limit for operation is applicable only to public transport vehicles under the federal law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The new provision has come into effect in Gandaki Province after the Gandaki Province Vehicle and Transport Regulations, 2080, was published in the provincial gazette last Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Ministry of Physical Infrastructure Development and Transport Management, Tikaram Paudel, said that the age of private vehicles has been set at 25 years for the first time in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The limit for e-public vehicles is thirty years. The regulation mentions that the ministry can create and issue necessary standards to convert public and other vehicles into electric vehicles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Paudel said that the regulations have also provided legal ground to regulate and legalize the transport services provided through Ride Sharing apps. As per the new provision, transportation service can be provided through the use of Ride Sharing App at specified fares after completing the necessary procedures along with passenger insurance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The regulations have also increased the fine to be paid by taxis that do not run on the meter system. From now on, the minimum rate of fine will be increased to Rs 10,000 from existing 2,100. Furthermore, the road permit license can be suspended for six months as the maximum penalty. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are around 3,500 taxis operating in Gandaki Province including 2,500 in Pokhara alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19884', 'image' => '20240204102427_gandaki vehicle.jpg', 'article_date' => '2024-02-04 10:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20156', 'article_category_id' => '1', 'title' => 'NEA Mahottari Collects Over Rs 50 Million in Revenue', 'sub_title' => '', 'summary' => 'The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">February 3: The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif""> Rs 52.3 million was collected from fine and cable fixing. The NEA has upped monitoring of electricity leakage in recent months. The Centre informed that it recorded 297 cases of electricity leakage in six months. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Those involved in power leakage were fined by the Centre, according to Office Chief Jagannath Jha. More than Rs 2.7 million was collected in fine. </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Similarly, the Centre fixed power supply for 488 customers, which earned over Rs 30.8 million. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Moreover, from 424 new customers, Rs 11.4 million was collected. The distribution centre at Gaushala is providing service in the northern belt of district while the distribution centre at Jaleshwor in the southern belt. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">There are 10 municipalities and five rural municipalities in the district. NEA has intensified the campaign against electricity leakage in the district, according to Jha. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19883', 'image' => '20240204093458_collage (22).jpg', 'article_date' => '2024-02-04 09:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '20155', 'article_category_id' => '1', 'title' => 'Call to Return Nepali Recruits in Russian Army ', 'sub_title' => '', 'summary' => 'February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones. Organising a press conference in the capital on Friday, the family members demanded that the Nepalis enlisted in the Russian Army be rescued and brought back to the country safely. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at the event, Tina Ghimire requested the government to create a safe environment for her husband Padam Ghimire to return home. He is reportedly out of contact since the past few months. A permanent resident of Udayapur, Ghimire is a retired Nepalese Army personnel and spent around Rs 900,000 to join the Russian Army, according to his family. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, Sumi Chamling of Ilam requested the government to search for her brother Rajkumar Mukhiya who has been missing since joining the Russian Army. She also shared that Bikram Bhujel and Rajendra Tamang from her village had also joined the Russian Army and are out of contact at present. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandani Bista of Bhaktapur said that her husband Bibhajan, brother-in-law Nirajan and grandson Lokendra are in contact but wanted them to be returned back to the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, Suman Rai, who returned home after joining the Russian Army, drew the attention of the government to rescue and repatriate the Nepali nationals who have been recruited in the Russian Army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Foreign Affairs has urged Nepal citizens not to get recruited in the military service of the war-ravaged nations on the basis of false information or temptation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has repeatedly urged Russia not to recruit Nepali citizens in its military rank and file and to send back any Nepali citizen who is currently serving in the army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has also sought information from Russia about the number of Nepalis who have joined the Russian Army, in addition to the injured ones and their condition but to no avail. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19882', 'image' => '20240203103517_20240112111355_20220719459a988fb97e63ab3ae.jpg', 'article_date' => '2024-02-03 10:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20154', 'article_category_id' => '1', 'title' => 'KMC to Manage only Segregated Waste ', 'sub_title' => '', 'summary' => 'February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC says it will start the classification process from Ward No 5, 12 and 27 immediately. After some time, it will manage only the classified waste from all 32 wards. According to Rabin Man Shrestha, the head of KMC's Environment Management Department, even though the KMC had announced to manage waste only after classification a year and a half ago, the process was not implemented effectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC is also working towards identifying the land for managing the collected classified waste at Bancharedanda, said Shrestha. Along with the classification and collection of waste, the KMC will make arrangement for sale of recyclable waste materials that are found during the classification of the waste. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC also plans to make the residents of KMC aware about the benefits and need of classifying and separating garbage at source, he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19881', 'image' => '20240203102709_20200903113103_1599056781.jpg', 'article_date' => '2024-02-03 10:25:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20152', 'article_category_id' => '1', 'title' => 'Increase in Interest Rates Should Require Borrowers’ Consent: UML Chair Oli', 'sub_title' => '', 'summary' => 'CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 2: CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Addressing the 7th National Convention of the Nepal Bank, Insurance and Financial Institutions Employees' Association at the UML Central Office in Chyasal of Lalitpur on Friday, Oli stressed the need to make provisions mandating that banks take consent of the borrowers before they hike the bank interest rates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The UML Chair accused the banks and financial institutions of inflating interest rates unilaterally. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The banking interest on loans increases substantially in a short span of time putting borrowers in trouble to repay the loan, triggering the banks to seize the collateral and sell it”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Advising the banks and financial institutions to change the interest rates with consent of the borrowers, Oli held that banks have bigger duty of monitoring and helping their clients instead of seizing the collateral and selling it. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Oli also called for monitoring whether the amount invested by the banks is properly utilized or not. He reiterated that the banks should support the development and they should provide loans to those people willing to start a new venture from the small capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Dr Yub Raj Khatiwada urged the government to intensify efforts to improve the economy of the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19879', 'image' => '20240202061132_collage (21).jpg', 'article_date' => '2024-02-02 18:09:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20151', 'article_category_id' => '1', 'title' => 'Unannounced Power Cuts Causing Trouble for Industries', 'sub_title' => '', 'summary' => 'February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial. Ghising, who announced the end of load shedding, is now being criticized for not being able to provide regular electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, he cut the lines of around two dozen industries for non-payment of the electricity tariff for using the dedicated feeder and trunk line, drawing widespread criticism.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ghising convinced Prime Minister Pushpa Kamal Dahal to cut the lines to the industries but later the government instructed the NEA to restore the lines against the will of Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Council of Ministers even decided to settle the tax dispute by forming a commission against his will.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government directed the NEA to reconnect electricity to the industries until the commission finds a solution. The NEA has been accused of determining the electricity tariff of dedicated and trunk lines arbitrarily.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Even though the NEA has reconnected the lines, the industries complain that they are not getting the required amount of electricity and that there is power cuts for <span style="font-family:"Arial Unicode MS","sans-serif"">10</span> to <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours a day.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The big industries of Bara-Parsa, which is the country's biggest industrial corridor, have been severely affected by this. The industrialists of Bara-Parsa, who have been affected by the power cut, have requested Ghising to provide regular power supply to the industries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They have suggested him to step down if he cannot solve the problem.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“At one time, he was praised for getting rid of load shedding. Now, it is better for him to resign than to court controversy,” said one of the industrialists.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They said that industries that produce as iron, cement and other industries that require more electricity have been badly affected by the erratic power supply as those industries were built with large investments. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Dipesh Agarwal, chairman of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, they are facing <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours of power cut every day in the industries of the corridor. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"When the line is cut without any prior notice, it cause damage to the panel boards, motors and other equipment of the industry. It results in the wastage of raw materials and the quality of the product is compromised,” said Agrawal, adding, “Our industry was shut down for five days when one of the equipment broke down. Who will provide the compensation?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Industrialists said that it is becoming difficult to operate the industries due to frequent power cuts. The industry employs workers in <span style="font-family:"Arial Unicode MS","sans-serif"">8-</span>hour shifts. They say that there is a problem in the management of workers since there is no fixed time for power cuts.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists complained that they have to pay the workers even if they have no work due to power cut. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Awadhesh Dube, head of Nepal Electricity Authority, Birgunj Distribution Center, says that they are forced to halt electricity supply to the industries for load management due to the decrease in electricity production and less import from India. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The authority has been managing the demand for electricity by importing energy from India when the production is low in winter. At present, there has been a decline in import of electricity,” he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists have requested the authority to make a timetable if it has to cut electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, said that they met the Deputy Executive Director of the Authority, Manoj Silwal, and requested him to prepare a schedule. "We face lots of problems if the electricity supply is halted randomly,” he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19878', 'image' => '20240202025118_elec.jpg', 'article_date' => '2024-02-02 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20150', 'article_category_id' => '1', 'title' => 'Over 5,400 Hectares of Land in Kailali, Kanchanpur get Irrigation Facility ', 'sub_title' => '', 'summary' => 'February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Groundwater Resources and Irrigation Division Development Office, the irrigation facility has been provided to 5,487 hectares of land so far after the country adopted the federal structure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Division Chief Shrawan Khanal said a total of 140 deep tube-wells have been installed in Kailai, Kanchanpur and Dadeldhura districts after the establishment of provinces. Out of the installed deep tube-wells, 91 are in operation while other structures are in course of construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deep and shallow tube-wells have been installed in order to provide irrigation facility to the farms of the farmers throughout the year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal added that </span>t<span style="font-family:"Arial Unicode MS","sans-serif"">he Division Office did not allocate budget to install the shallow tube-wells in the current fiscal year as the responsibility was handed over to the local level to install shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that Rs 1.2 million budget was given to local levels under fiscal transfer to install shallow tube-wells. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19877', 'image' => '20240202022345_irrigat.jpg', 'article_date' => '2024-02-02 14:23:04', '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' => '20166', 'article_category_id' => '1', 'title' => 'Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion', 'sub_title' => '', 'summary' => 'The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 5: The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A bench comprising Chairperson of the Special Court Tek Narayan Kunwar and Justices Tejnarayan Singh Rai and Murari Babu Shrestha issued the verdict convicting Tamang on Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court, determining the punishment, pronounced the verdict, finding Tamang guilty. Tamang was in custody for investigation in the Civil Cooperatives scam. Although the court found him guilty on January 21, he was scheduled for appearance in the court on Monday to determine the punishment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court has also announced a year and half of imprisonment to Tamang's wife Srijana Shakya and slapped a fine of over Rs 1.35 billion Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In the same case, the Court pronounced verdict that Keshav Lal Shrestha will be put behind the bar for a year and half and over Rs 250 million has been sought as a recovery from the loss he caused. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">All the properties owned by Ichchharaj Tamang, Srijana Shakya, Keshav Lal Shrestha, Meena Shrestha, Pratikshya Tamang and Pratistha Tamang shall be confiscated, the Court delivered in its verdict.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against former Chairperson of Civil Cooperatives, Ichchharaj, and six members of his family on September 1, 2022. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-05', 'modified' => '2024-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '19893', 'image' => '20240205061322_collage (23).jpg', 'article_date' => '2024-02-05 06:11:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20165', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 5.31 Points; Continues Its Downward Journey', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 4: The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 307 scrips were traded through 70,790 transactions. A total of 9,272,782 shares changed hands, resulting in a total turnover amount of Rs 3.24 billion. </span></span><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 33 crores, closing at a market price of Rs 688 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) accomplished the highest gain at 10% and triggered the positive circuit for the day. On the contrary, Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) lost the most at 5.37%, closing at a market price of Rs 1655 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 the Development Bank Index, Finance Index, Investment Index, and NonLife Insurance.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index, Finance, Investment, and Nonlife Index lost 0.66%, 0.40%, 0.09%, and 0.51%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In a similar vein, the Sensitive Index, Float Index, and Sensitive Float Index lost 0.16%, 0.25%, and 0.16%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19892', 'image' => '20240204055629_collage (4).jpg', 'article_date' => '2024-02-04 17:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20164', 'article_category_id' => '1', 'title' => 'Five Finance Companies Record Losses in Second Quarter', 'sub_title' => 'Non-Performing Loans of all Fifteen Finance Companies Increase', 'summary' => 'February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the financial statements, 10 finance companies have made profit while the remaining five companies suffered losses during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Samriddhi Finance Company, Central Finance, Reliance Finance, Progressive Finance and Guheswari Merchant Banking and Finance Company are in losses. Among these five companies, Progressive Finance incurred the highest loss at Rs 105.7 million. In the current fiscal year, Progressive Finance's net interest income and operating profit decreased while the bad loans increased. The bad debt of this company was 4.91 percent in the second quarter of last year, but it has increased to 11.45 percent in the same period of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The non-performing loans (NPLs) of almost all finance companies increased, according to the second quarter financial statements. Like commercial and development banks, NPLs of finance companies have also increased. Because of bad debts, the profits of finance companies have been compromised due to the provisioning of a large amount of income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent economic recession in the country is having a great impact on business. Borrowers have not been able to repay their loans on time. As a result, bad loans have increased. Among the 15 finance companies, Gorkhaz Finance, Manjushree Finance, ICFC Finance, Pokhara Finance, Goodwill Finance, Multipurpose Finance, Best Finance, Janaki Finance, Nepal Finance and Shree Investment and Finance are in profit. Among these 10 profitable finance companies, Gorkhaz Finance has earned the highest net profit of Rs 121.6 million. Nepal Finance made the lowest net profit of Rs. 812,000 thousand in the review period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19891', 'image' => '20240204034414_Business-Loss.jpg', 'article_date' => '2024-02-04 15:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20163', 'article_category_id' => '1', 'title' => 'Production of Hetauda Cement Industry Halted Since Five Months ', 'sub_title' => '', 'summary' => 'February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months.', '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"">February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months. The industry administration has said that production could not be carried out due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The technical and administrative staff and workers of the industry have become jobless due to the lack of cement production. Basanta Kumar Pandey, general manager of the industry, said that the financial crisis of the industry is deepening due to the lack of production. The company has been operating in loss for the past four fiscal years.</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"">Pandey revealed that the industry is unable to purchase coal due to the lack of funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of funds, some retired employees have complained that they are not getting gratuity. According to the industry, the number of employees who have not received the gratuity amount stands at 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The cement factory used to produce 750 metric tons of cement daily but the production has been nil since October. At present, the industry is selling the stock of cement produced in the past. According to the industry, 249,456 sacks of cement have been sold so far in the current fiscal year.</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"">Pandey, the general manager of the industry, said that the factory has initiated the coal purchase process for production. He informed New Business Age that the production would be carried forward as soon as the supply of coal is available. The industry has called for tender bids to supply 13,000 tons of coal.</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"">During the fiscal year 076/77 to 078/79, the industry suffered a loss of Rs 654.7 million. Last year alone, there was a loss of Rs 235 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The All Nepal Labor Union has launched a protest demanding the operation of the industry. About 300 employees are currently employed in the industry on a daily wage basis as well as permanent staff. Meanwhile, the private sector-run Shivam and Riddhisiddhi cement industries are running continuously in Hetauda.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19890', 'image' => '20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-04 15:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20162', 'article_category_id' => '1', 'title' => 'Lower Seti Hydropower Project to Produce 520 Million Units of Electricity Annually', 'sub_title' => '', 'summary' => 'February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Kiran Kumar Shrestha, managing director of Tanahun Hydropower Limited, informed that they have submitted the EIA report along with suggestions to the regulatory body. The land acquisition process of the project has also been advanced. Shrestha said that the proposal has been submitted to the Ministry of Energy, Water Resources and Irrigation for approval to advance the land acquisition process required for various structures of the project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Under the project, a 32-meter high dam will be constructed on Seti River near Saranghat in Bandipur Rural Municipality-6 and Devghat Rural Municipality-3. In order to produce the electricity, the project plans to flow water through a 6.8 km long tunnel in Devghat Rural Municipality-3 and 4 to a semi-underground power plant to be built on the right bank of the Kaligandaki River at Devghat, which is located about 500 meters below the confluence of the Seti and Kali Gandaki rivers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project Chief Shyamji Bhandari said that some parts of Bandipur Rural Municipality-6, Byas Municipality-13, 14, Devghat Rural Municipality-2, 3 and 4, Rishing Rural Municipality-1 and 3, Abu Khaireni Rural Municipality-5 and 6, Bharatpur Metropolitan Municipality-29 will be affected by the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Electricity will be generated by constructing a semi-underground powerhouse in Devghat Rural Municipality-4 Gaighat. The generated electricity will be integrated into the national power system through the 220 KV Damauli-New Bharatpur transmission line constructed by the Tanahun hydropower project. For this, about two kilometers of transmission line should be constructed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">About 12 km long reservoir of semi-reservoir Lower Seti project will be extended from the dam site to Sundegaon. The project will generate 52 million units of electricity annually. The estimated cost of the project is Rs 25 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Initiatives have also been started to ensure investment for the project. Tanahun Hydropower Limited has already sent a letter to the Ministry of Energy, Water Resources and Irrigation requesting to facilitate investment from the Japan International Cooperation Agency (JICA) for the project through the Nepal Electricity Authority.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to Project Chief Bhandari, preparations are being made to call for bids in 2081 BS. A detailed study has been completed for the construction of the Lower Seti Hydropower Project. The project had appointed an expert group and proceeded with the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The company has already received the survey permission for electricity generation. In addition, an agreement was signed with a joint venture of India’s WAPCOS and Nippon Koi of Japan on April 12, 2019, for consulting services for the preparation of detailed engineering design and tender-related documents with the help of about USD 3.5 million received from the Asian Development Bank. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19889', 'image' => '20240204022819_lower seti.jpg', 'article_date' => '2024-02-04 14:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20160', 'article_category_id' => '1', 'title' => 'Govt Advances Study for Development of 5,763 Megawatts of Electricity ', 'sub_title' => '', 'summary' => 'February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Department of Electricity Development is carrying out study of eight projects of 100 MW capacity each. Likewise, 12 other projects having capacity less than 100 megawatts are also being studied. If things go as planned, the government is preparing to advance the development of those projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department is also carrying out the feasibility study of Khimti Those Shivalaya Hydropower Project of 1,720 megawatt capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the officials are also working on the study of 844 megawatt capacity Kaligandaki Multipurpose Project in the Kaligandaki River. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the feasibility studies of the Burbang Hydropower Project, Kokhajor reservoir-based project, Humla Karnali cascade, Kaligandaki-II, Lower Badigad Project and Mugu Karnali Hydropower Project have reached the final stage.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It may be noted that India recently signed an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. -- (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19887', 'image' => '20240204114050_hydro.jpg', 'article_date' => '2024-02-04 11:40:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20159', 'article_category_id' => '1', 'title' => 'Light Snowfall along with Rainfall Taking Place Today ', 'sub_title' => '', 'summary' => 'February 4: Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 4: <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning. </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"">The Department of Hydrology and Meteorology has predicted light rainfall some places in Gandaki and Lumbini provinces today 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"">The weather on Sunday morning was partly cloudy in the hill areas of Sudur Paschim, Karnali, Lumbini and Gandaki provinces while it remained mainly clear in the rest of the country due to the partial effect of the westerly winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, the weather this afternoon will be generally cloudy in many places of Karnali and Sudurpaschim provinces with light rain in some places in Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall will continue in the high and mountainous areas of the country later today but the weather in other parts of the country will improve and the temperature will gradually increase starting tomorrow, said meteorologist Govinda Jha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly to generally cloudy across the country tonight. There is possibility of light rain in some places of Sudur Paschim, Karnali, Lumbini and Gandaki Provinces and light snowfall in a few places in the mountainous region of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the minimum temperature of Kathmandu was recorded at 4.6 degrees Celsius on Sunday and the maximum temperature will remain between 15 and 17 degrees Celsius, according to the Weather Forecasting Division. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19886', 'image' => '20240204112755_20230308033942_Mustang.jpg', 'article_date' => '2024-02-04 11:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20158', 'article_category_id' => '1', 'title' => 'Global Gold Demand Hits Record High in 2023: Report ', 'sub_title' => '', 'summary' => 'February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The demand of central banks reached 1,037 tonnes in 2023, the second highest in history, according to the report released by the World Gold Council. Global gold-backed exchange-traded funds (ETFs) saw an annual outflow for the third consecutive year, losing 244 tonnes in 2023, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By contrast, the Chinese market saw an inflow of 10 tonnes of gold ETFs last year, which brought its total holdings of gold ETFs to 61.5 tonnes by the end of 2023. Global demand for gold bars and coins decreased 3 percent year on year, while jewelry consumption demand increased to 2,093 tonnes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China's economic recovery has driven up the demand for gold jewelry, and the country has become an important growth engine for the global gold jewelry market, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, total global gold supply increased by 3 percent year on year. Gold mine production in 2023 increased by 1 percent year on year to 3,644 tonnes, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the context of Nepal, the country imported gold worth Rs 22.35 billion in the fiscal year 2022/2023. According to the statistics of the Department of Customs, Nepal imported 29,16,586 grams of the precious yellow metal in the review year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The gold import in the last fiscal year marks a 42 percent decrease from the previous fiscal year (2021/2022) when Nepal imported gold worth Rs 35 billion. -- (With inputs from Xinhua/RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19885', 'image' => '20240204105722_gold newwww.jpg', 'article_date' => '2024-02-04 10:56:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20157', 'article_category_id' => '1', 'title' => 'Gandaki Province to Scrap 25-Year-Old Private Vehicles', 'sub_title' => '', 'summary' => 'February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. This is the first time that such a provision has been made for private vehicles in the country. So far, the provision of 20-year limit for operation is applicable only to public transport vehicles under the federal law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The new provision has come into effect in Gandaki Province after the Gandaki Province Vehicle and Transport Regulations, 2080, was published in the provincial gazette last Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Ministry of Physical Infrastructure Development and Transport Management, Tikaram Paudel, said that the age of private vehicles has been set at 25 years for the first time in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The limit for e-public vehicles is thirty years. The regulation mentions that the ministry can create and issue necessary standards to convert public and other vehicles into electric vehicles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Paudel said that the regulations have also provided legal ground to regulate and legalize the transport services provided through Ride Sharing apps. As per the new provision, transportation service can be provided through the use of Ride Sharing App at specified fares after completing the necessary procedures along with passenger insurance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The regulations have also increased the fine to be paid by taxis that do not run on the meter system. From now on, the minimum rate of fine will be increased to Rs 10,000 from existing 2,100. Furthermore, the road permit license can be suspended for six months as the maximum penalty. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are around 3,500 taxis operating in Gandaki Province including 2,500 in Pokhara alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19884', 'image' => '20240204102427_gandaki vehicle.jpg', 'article_date' => '2024-02-04 10:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20156', 'article_category_id' => '1', 'title' => 'NEA Mahottari Collects Over Rs 50 Million in Revenue', 'sub_title' => '', 'summary' => 'The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">February 3: The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif""> Rs 52.3 million was collected from fine and cable fixing. The NEA has upped monitoring of electricity leakage in recent months. The Centre informed that it recorded 297 cases of electricity leakage in six months. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Those involved in power leakage were fined by the Centre, according to Office Chief Jagannath Jha. More than Rs 2.7 million was collected in fine. </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Similarly, the Centre fixed power supply for 488 customers, which earned over Rs 30.8 million. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Moreover, from 424 new customers, Rs 11.4 million was collected. The distribution centre at Gaushala is providing service in the northern belt of district while the distribution centre at Jaleshwor in the southern belt. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">There are 10 municipalities and five rural municipalities in the district. NEA has intensified the campaign against electricity leakage in the district, according to Jha. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19883', 'image' => '20240204093458_collage (22).jpg', 'article_date' => '2024-02-04 09:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '20155', 'article_category_id' => '1', 'title' => 'Call to Return Nepali Recruits in Russian Army ', 'sub_title' => '', 'summary' => 'February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones. Organising a press conference in the capital on Friday, the family members demanded that the Nepalis enlisted in the Russian Army be rescued and brought back to the country safely. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at the event, Tina Ghimire requested the government to create a safe environment for her husband Padam Ghimire to return home. He is reportedly out of contact since the past few months. A permanent resident of Udayapur, Ghimire is a retired Nepalese Army personnel and spent around Rs 900,000 to join the Russian Army, according to his family. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, Sumi Chamling of Ilam requested the government to search for her brother Rajkumar Mukhiya who has been missing since joining the Russian Army. She also shared that Bikram Bhujel and Rajendra Tamang from her village had also joined the Russian Army and are out of contact at present. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandani Bista of Bhaktapur said that her husband Bibhajan, brother-in-law Nirajan and grandson Lokendra are in contact but wanted them to be returned back to the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, Suman Rai, who returned home after joining the Russian Army, drew the attention of the government to rescue and repatriate the Nepali nationals who have been recruited in the Russian Army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Foreign Affairs has urged Nepal citizens not to get recruited in the military service of the war-ravaged nations on the basis of false information or temptation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has repeatedly urged Russia not to recruit Nepali citizens in its military rank and file and to send back any Nepali citizen who is currently serving in the army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has also sought information from Russia about the number of Nepalis who have joined the Russian Army, in addition to the injured ones and their condition but to no avail. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19882', 'image' => '20240203103517_20240112111355_20220719459a988fb97e63ab3ae.jpg', 'article_date' => '2024-02-03 10:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20154', 'article_category_id' => '1', 'title' => 'KMC to Manage only Segregated Waste ', 'sub_title' => '', 'summary' => 'February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC says it will start the classification process from Ward No 5, 12 and 27 immediately. After some time, it will manage only the classified waste from all 32 wards. According to Rabin Man Shrestha, the head of KMC's Environment Management Department, even though the KMC had announced to manage waste only after classification a year and a half ago, the process was not implemented effectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC is also working towards identifying the land for managing the collected classified waste at Bancharedanda, said Shrestha. Along with the classification and collection of waste, the KMC will make arrangement for sale of recyclable waste materials that are found during the classification of the waste. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC also plans to make the residents of KMC aware about the benefits and need of classifying and separating garbage at source, he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19881', 'image' => '20240203102709_20200903113103_1599056781.jpg', 'article_date' => '2024-02-03 10:25:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20152', 'article_category_id' => '1', 'title' => 'Increase in Interest Rates Should Require Borrowers’ Consent: UML Chair Oli', 'sub_title' => '', 'summary' => 'CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 2: CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Addressing the 7th National Convention of the Nepal Bank, Insurance and Financial Institutions Employees' Association at the UML Central Office in Chyasal of Lalitpur on Friday, Oli stressed the need to make provisions mandating that banks take consent of the borrowers before they hike the bank interest rates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The UML Chair accused the banks and financial institutions of inflating interest rates unilaterally. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The banking interest on loans increases substantially in a short span of time putting borrowers in trouble to repay the loan, triggering the banks to seize the collateral and sell it”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Advising the banks and financial institutions to change the interest rates with consent of the borrowers, Oli held that banks have bigger duty of monitoring and helping their clients instead of seizing the collateral and selling it. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Oli also called for monitoring whether the amount invested by the banks is properly utilized or not. He reiterated that the banks should support the development and they should provide loans to those people willing to start a new venture from the small capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Dr Yub Raj Khatiwada urged the government to intensify efforts to improve the economy of the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19879', 'image' => '20240202061132_collage (21).jpg', 'article_date' => '2024-02-02 18:09:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20151', 'article_category_id' => '1', 'title' => 'Unannounced Power Cuts Causing Trouble for Industries', 'sub_title' => '', 'summary' => 'February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial. Ghising, who announced the end of load shedding, is now being criticized for not being able to provide regular electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, he cut the lines of around two dozen industries for non-payment of the electricity tariff for using the dedicated feeder and trunk line, drawing widespread criticism.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ghising convinced Prime Minister Pushpa Kamal Dahal to cut the lines to the industries but later the government instructed the NEA to restore the lines against the will of Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Council of Ministers even decided to settle the tax dispute by forming a commission against his will.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government directed the NEA to reconnect electricity to the industries until the commission finds a solution. The NEA has been accused of determining the electricity tariff of dedicated and trunk lines arbitrarily.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Even though the NEA has reconnected the lines, the industries complain that they are not getting the required amount of electricity and that there is power cuts for <span style="font-family:"Arial Unicode MS","sans-serif"">10</span> to <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours a day.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The big industries of Bara-Parsa, which is the country's biggest industrial corridor, have been severely affected by this. The industrialists of Bara-Parsa, who have been affected by the power cut, have requested Ghising to provide regular power supply to the industries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They have suggested him to step down if he cannot solve the problem.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“At one time, he was praised for getting rid of load shedding. Now, it is better for him to resign than to court controversy,” said one of the industrialists.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They said that industries that produce as iron, cement and other industries that require more electricity have been badly affected by the erratic power supply as those industries were built with large investments. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Dipesh Agarwal, chairman of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, they are facing <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours of power cut every day in the industries of the corridor. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"When the line is cut without any prior notice, it cause damage to the panel boards, motors and other equipment of the industry. It results in the wastage of raw materials and the quality of the product is compromised,” said Agrawal, adding, “Our industry was shut down for five days when one of the equipment broke down. Who will provide the compensation?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Industrialists said that it is becoming difficult to operate the industries due to frequent power cuts. The industry employs workers in <span style="font-family:"Arial Unicode MS","sans-serif"">8-</span>hour shifts. They say that there is a problem in the management of workers since there is no fixed time for power cuts.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists complained that they have to pay the workers even if they have no work due to power cut. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Awadhesh Dube, head of Nepal Electricity Authority, Birgunj Distribution Center, says that they are forced to halt electricity supply to the industries for load management due to the decrease in electricity production and less import from India. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The authority has been managing the demand for electricity by importing energy from India when the production is low in winter. At present, there has been a decline in import of electricity,” he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists have requested the authority to make a timetable if it has to cut electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, said that they met the Deputy Executive Director of the Authority, Manoj Silwal, and requested him to prepare a schedule. "We face lots of problems if the electricity supply is halted randomly,” he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19878', 'image' => '20240202025118_elec.jpg', 'article_date' => '2024-02-02 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20150', 'article_category_id' => '1', 'title' => 'Over 5,400 Hectares of Land in Kailali, Kanchanpur get Irrigation Facility ', 'sub_title' => '', 'summary' => 'February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Groundwater Resources and Irrigation Division Development Office, the irrigation facility has been provided to 5,487 hectares of land so far after the country adopted the federal structure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Division Chief Shrawan Khanal said a total of 140 deep tube-wells have been installed in Kailai, Kanchanpur and Dadeldhura districts after the establishment of provinces. Out of the installed deep tube-wells, 91 are in operation while other structures are in course of construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deep and shallow tube-wells have been installed in order to provide irrigation facility to the farms of the farmers throughout the year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal added that </span>t<span style="font-family:"Arial Unicode MS","sans-serif"">he Division Office did not allocate budget to install the shallow tube-wells in the current fiscal year as the responsibility was handed over to the local level to install shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that Rs 1.2 million budget was given to local levels under fiscal transfer to install shallow tube-wells. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19877', 'image' => '20240202022345_irrigat.jpg', 'article_date' => '2024-02-02 14:23:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20166', 'article_category_id' => '1', 'title' => 'Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion', 'sub_title' => '', 'summary' => 'The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 5: The Special Court has sentenced Ichchharaj Tamang to three years in jail and fined over Rs 1.72 billion after he was found guilty in money laundering case. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A bench comprising Chairperson of the Special Court Tek Narayan Kunwar and Justices Tejnarayan Singh Rai and Murari Babu Shrestha issued the verdict convicting Tamang on Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court, determining the punishment, pronounced the verdict, finding Tamang guilty. Tamang was in custody for investigation in the Civil Cooperatives scam. Although the court found him guilty on January 21, he was scheduled for appearance in the court on Monday to determine the punishment.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Court has also announced a year and half of imprisonment to Tamang's wife Srijana Shakya and slapped a fine of over Rs 1.35 billion Ichchharaj Handed 3-year Jail Term, Fined Over Rs 1.72 Billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In the same case, the Court pronounced verdict that Keshav Lal Shrestha will be put behind the bar for a year and half and over Rs 250 million has been sought as a recovery from the loss he caused. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">All the properties owned by Ichchharaj Tamang, Srijana Shakya, Keshav Lal Shrestha, Meena Shrestha, Pratikshya Tamang and Pratistha Tamang shall be confiscated, the Court delivered in its verdict.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Money Laundering Investigation had filed a case against former Chairperson of Civil Cooperatives, Ichchharaj, and six members of his family on September 1, 2022. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-05', 'modified' => '2024-02-05', 'keywords' => '', 'description' => '', 'sortorder' => '19893', 'image' => '20240205061322_collage (23).jpg', 'article_date' => '2024-02-05 06:11:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20165', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 5.31 Points; Continues Its Downward Journey', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 4: The Nepal Stock Exchange (NEPSE) recorded a loss of 5.31 points or 0.25%, closing at 2061.70 on the first trading day of the week on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 307 scrips were traded through 70,790 transactions. A total of 9,272,782 shares changed hands, resulting in a total turnover amount of Rs 3.24 billion. </span></span><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 33 crores, closing at a market price of Rs 688 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) accomplished the highest gain at 10% and triggered the positive circuit for the day. On the contrary, Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) lost the most at 5.37%, closing at a market price of Rs 1655 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 the Development Bank Index, Finance Index, Investment Index, and NonLife Insurance.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index, Finance, Investment, and Nonlife Index lost 0.66%, 0.40%, 0.09%, and 0.51%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In a similar vein, the Sensitive Index, Float Index, and Sensitive Float Index lost 0.16%, 0.25%, and 0.16%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19892', 'image' => '20240204055629_collage (4).jpg', 'article_date' => '2024-02-04 17:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20164', 'article_category_id' => '1', 'title' => 'Five Finance Companies Record Losses in Second Quarter', 'sub_title' => 'Non-Performing Loans of all Fifteen Finance Companies Increase', 'summary' => 'February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: Fifteen finance companies listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities, have released their second quarter financial statements for the current fiscal year (FY) 2023/24. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the financial statements, 10 finance companies have made profit while the remaining five companies suffered losses during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Samriddhi Finance Company, Central Finance, Reliance Finance, Progressive Finance and Guheswari Merchant Banking and Finance Company are in losses. Among these five companies, Progressive Finance incurred the highest loss at Rs 105.7 million. In the current fiscal year, Progressive Finance's net interest income and operating profit decreased while the bad loans increased. The bad debt of this company was 4.91 percent in the second quarter of last year, but it has increased to 11.45 percent in the same period of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The non-performing loans (NPLs) of almost all finance companies increased, according to the second quarter financial statements. Like commercial and development banks, NPLs of finance companies have also increased. Because of bad debts, the profits of finance companies have been compromised due to the provisioning of a large amount of income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent economic recession in the country is having a great impact on business. Borrowers have not been able to repay their loans on time. As a result, bad loans have increased. Among the 15 finance companies, Gorkhaz Finance, Manjushree Finance, ICFC Finance, Pokhara Finance, Goodwill Finance, Multipurpose Finance, Best Finance, Janaki Finance, Nepal Finance and Shree Investment and Finance are in profit. Among these 10 profitable finance companies, Gorkhaz Finance has earned the highest net profit of Rs 121.6 million. Nepal Finance made the lowest net profit of Rs. 812,000 thousand in the review period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19891', 'image' => '20240204034414_Business-Loss.jpg', 'article_date' => '2024-02-04 15:42:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20163', 'article_category_id' => '1', 'title' => 'Production of Hetauda Cement Industry Halted Since Five Months ', 'sub_title' => '', 'summary' => 'February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months.', '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"">February 4: The production of the state-owned Hetauda Cement Industry has been halted for five months. The industry administration has said that production could not be carried out due to the lack of coal required for cement production.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The technical and administrative staff and workers of the industry have become jobless due to the lack of cement production. Basanta Kumar Pandey, general manager of the industry, said that the financial crisis of the industry is deepening due to the lack of production. The company has been operating in loss for the past four fiscal years.</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"">Pandey revealed that the industry is unable to purchase coal due to the lack of funds.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of funds, some retired employees have complained that they are not getting gratuity. According to the industry, the number of employees who have not received the gratuity amount stands at 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The cement factory used to produce 750 metric tons of cement daily but the production has been nil since October. At present, the industry is selling the stock of cement produced in the past. According to the industry, 249,456 sacks of cement have been sold so far in the current fiscal year.</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"">Pandey, the general manager of the industry, said that the factory has initiated the coal purchase process for production. He informed New Business Age that the production would be carried forward as soon as the supply of coal is available. The industry has called for tender bids to supply 13,000 tons of coal.</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"">During the fiscal year 076/77 to 078/79, the industry suffered a loss of Rs 654.7 million. Last year alone, there was a loss of Rs 235 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The All Nepal Labor Union has launched a protest demanding the operation of the industry. About 300 employees are currently employed in the industry on a daily wage basis as well as permanent staff. Meanwhile, the private sector-run Shivam and Riddhisiddhi cement industries are running continuously in Hetauda.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19890', 'image' => '20240204031957_Hetauda-Cement-Factory-2.jpg', 'article_date' => '2024-02-04 15:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20162', 'article_category_id' => '1', 'title' => 'Lower Seti Hydropower Project to Produce 520 Million Units of Electricity Annually', 'sub_title' => '', 'summary' => 'February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">February 4: The promoters of Tanahun-based 126-MW Lower Seti Hydropower Project have submitted the Environmental Impact Assessment (EIA) of the project to the Electricity Development Department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Kiran Kumar Shrestha, managing director of Tanahun Hydropower Limited, informed that they have submitted the EIA report along with suggestions to the regulatory body. The land acquisition process of the project has also been advanced. Shrestha said that the proposal has been submitted to the Ministry of Energy, Water Resources and Irrigation for approval to advance the land acquisition process required for various structures of the project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Under the project, a 32-meter high dam will be constructed on Seti River near Saranghat in Bandipur Rural Municipality-6 and Devghat Rural Municipality-3. In order to produce the electricity, the project plans to flow water through a 6.8 km long tunnel in Devghat Rural Municipality-3 and 4 to a semi-underground power plant to be built on the right bank of the Kaligandaki River at Devghat, which is located about 500 meters below the confluence of the Seti and Kali Gandaki rivers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project Chief Shyamji Bhandari said that some parts of Bandipur Rural Municipality-6, Byas Municipality-13, 14, Devghat Rural Municipality-2, 3 and 4, Rishing Rural Municipality-1 and 3, Abu Khaireni Rural Municipality-5 and 6, Bharatpur Metropolitan Municipality-29 will be affected by the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Electricity will be generated by constructing a semi-underground powerhouse in Devghat Rural Municipality-4 Gaighat. The generated electricity will be integrated into the national power system through the 220 KV Damauli-New Bharatpur transmission line constructed by the Tanahun hydropower project. For this, about two kilometers of transmission line should be constructed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">About 12 km long reservoir of semi-reservoir Lower Seti project will be extended from the dam site to Sundegaon. The project will generate 52 million units of electricity annually. The estimated cost of the project is Rs 25 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Initiatives have also been started to ensure investment for the project. Tanahun Hydropower Limited has already sent a letter to the Ministry of Energy, Water Resources and Irrigation requesting to facilitate investment from the Japan International Cooperation Agency (JICA) for the project through the Nepal Electricity Authority.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to Project Chief Bhandari, preparations are being made to call for bids in 2081 BS. A detailed study has been completed for the construction of the Lower Seti Hydropower Project. The project had appointed an expert group and proceeded with the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The company has already received the survey permission for electricity generation. In addition, an agreement was signed with a joint venture of India’s WAPCOS and Nippon Koi of Japan on April 12, 2019, for consulting services for the preparation of detailed engineering design and tender-related documents with the help of about USD 3.5 million received from the Asian Development Bank. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19889', 'image' => '20240204022819_lower seti.jpg', 'article_date' => '2024-02-04 14:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20160', 'article_category_id' => '1', 'title' => 'Govt Advances Study for Development of 5,763 Megawatts of Electricity ', 'sub_title' => '', 'summary' => 'February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The government has advanced study of 20 hydropower projects for the development of 5,763 megawatts of hydroelectricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Department of Electricity Development is carrying out study of eight projects of 100 MW capacity each. Likewise, 12 other projects having capacity less than 100 megawatts are also being studied. If things go as planned, the government is preparing to advance the development of those projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department is also carrying out the feasibility study of Khimti Those Shivalaya Hydropower Project of 1,720 megawatt capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the officials are also working on the study of 844 megawatt capacity Kaligandaki Multipurpose Project in the Kaligandaki River. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the feasibility studies of the Burbang Hydropower Project, Kokhajor reservoir-based project, Humla Karnali cascade, Kaligandaki-II, Lower Badigad Project and Mugu Karnali Hydropower Project have reached the final stage.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has set an ambitious target of generating 28,500 megawatts of electricity in the next 12 years. Both the government and the private sector have expressed their commitment to focus on the production of electricity by declaring the next decade as the 'Energy Decade'. The declaration comes in the wake of the government securing market for Nepal’s energy in India and Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It may be noted that India recently signed an agreement to buy 10,000 megawatts of electricity from Nepal in 10 years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government plans to produce 28,500 megawatts of electricity by 2035 and export 15,000 megawatts in the international market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It is estimated that an investment of Rs 6217 billion (USD 46.5 billion) will be required to fulfill the ambitious goal of the government. The Energy Development Roadmap and Action Plan, 2080 has estimated that the aforementioned amount of investment will be required to reach the installed capacity of electricity of 28,500 megawatts by 2035. -- (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19887', 'image' => '20240204114050_hydro.jpg', 'article_date' => '2024-02-04 11:40:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20159', 'article_category_id' => '1', 'title' => 'Light Snowfall along with Rainfall Taking Place Today ', 'sub_title' => '', 'summary' => 'February 4: Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 4: <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall has been taking place in the hill and mountainous areas of Gandaki, Karnali and Sudur Paschim provinces since today (Sunday) morning. </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"">The Department of Hydrology and Meteorology has predicted light rainfall some places in Gandaki and Lumbini provinces today 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"">The weather on Sunday morning was partly cloudy in the hill areas of Sudur Paschim, Karnali, Lumbini and Gandaki provinces while it remained mainly clear in the rest of the country due to the partial effect of the westerly winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, the weather this afternoon will be generally cloudy in many places of Karnali and Sudurpaschim provinces with light rain in some places in Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall will continue in the high and mountainous areas of the country later today but the weather in other parts of the country will improve and the temperature will gradually increase starting tomorrow, said meteorologist Govinda Jha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly to generally cloudy across the country tonight. There is possibility of light rain in some places of Sudur Paschim, Karnali, Lumbini and Gandaki Provinces and light snowfall in a few places in the mountainous region of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the minimum temperature of Kathmandu was recorded at 4.6 degrees Celsius on Sunday and the maximum temperature will remain between 15 and 17 degrees Celsius, according to the Weather Forecasting Division. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19886', 'image' => '20240204112755_20230308033942_Mustang.jpg', 'article_date' => '2024-02-04 11:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20158', 'article_category_id' => '1', 'title' => 'Global Gold Demand Hits Record High in 2023: Report ', 'sub_title' => '', 'summary' => 'February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 4: The overall demand for gold globally, inclusive of over-the-counter and stock flows, amounted to 4,899 tonnes last year, hitting a record high, said an industry report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The demand of central banks reached 1,037 tonnes in 2023, the second highest in history, according to the report released by the World Gold Council. Global gold-backed exchange-traded funds (ETFs) saw an annual outflow for the third consecutive year, losing 244 tonnes in 2023, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By contrast, the Chinese market saw an inflow of 10 tonnes of gold ETFs last year, which brought its total holdings of gold ETFs to 61.5 tonnes by the end of 2023. Global demand for gold bars and coins decreased 3 percent year on year, while jewelry consumption demand increased to 2,093 tonnes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China's economic recovery has driven up the demand for gold jewelry, and the country has become an important growth engine for the global gold jewelry market, said the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, total global gold supply increased by 3 percent year on year. Gold mine production in 2023 increased by 1 percent year on year to 3,644 tonnes, the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the context of Nepal, the country imported gold worth Rs 22.35 billion in the fiscal year 2022/2023. According to the statistics of the Department of Customs, Nepal imported 29,16,586 grams of the precious yellow metal in the review year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The gold import in the last fiscal year marks a 42 percent decrease from the previous fiscal year (2021/2022) when Nepal imported gold worth Rs 35 billion. -- (With inputs from Xinhua/RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19885', 'image' => '20240204105722_gold newwww.jpg', 'article_date' => '2024-02-04 10:56:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20157', 'article_category_id' => '1', 'title' => 'Gandaki Province to Scrap 25-Year-Old Private Vehicles', 'sub_title' => '', 'summary' => 'February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Gandaki Province government has decided to scrap 25-year-old private vehicles in the province. This is the first time that such a provision has been made for private vehicles in the country. So far, the provision of 20-year limit for operation is applicable only to public transport vehicles under the federal law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The new provision has come into effect in Gandaki Province after the Gandaki Province Vehicle and Transport Regulations, 2080, was published in the provincial gazette last Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Ministry of Physical Infrastructure Development and Transport Management, Tikaram Paudel, said that the age of private vehicles has been set at 25 years for the first time in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The limit for e-public vehicles is thirty years. The regulation mentions that the ministry can create and issue necessary standards to convert public and other vehicles into electric vehicles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Paudel said that the regulations have also provided legal ground to regulate and legalize the transport services provided through Ride Sharing apps. As per the new provision, transportation service can be provided through the use of Ride Sharing App at specified fares after completing the necessary procedures along with passenger insurance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The regulations have also increased the fine to be paid by taxis that do not run on the meter system. From now on, the minimum rate of fine will be increased to Rs 10,000 from existing 2,100. Furthermore, the road permit license can be suspended for six months as the maximum penalty. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There are around 3,500 taxis operating in Gandaki Province including 2,500 in Pokhara alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19884', 'image' => '20240204102427_gandaki vehicle.jpg', 'article_date' => '2024-02-04 10:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20156', 'article_category_id' => '1', 'title' => 'NEA Mahottari Collects Over Rs 50 Million in Revenue', 'sub_title' => '', 'summary' => 'The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">February 3: The power distribution centre of Nepal Electricity Authority Mahottari has collected over Rs 50 million in revenue in six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif""> Rs 52.3 million was collected from fine and cable fixing. The NEA has upped monitoring of electricity leakage in recent months. The Centre informed that it recorded 297 cases of electricity leakage in six months. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Those involved in power leakage were fined by the Centre, according to Office Chief Jagannath Jha. More than Rs 2.7 million was collected in fine. </span></span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Similarly, the Centre fixed power supply for 488 customers, which earned over Rs 30.8 million. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">Moreover, from 424 new customers, Rs 11.4 million was collected. The distribution centre at Gaushala is providing service in the northern belt of district while the distribution centre at Jaleshwor in the southern belt. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Segoe UI","sans-serif"">There are 10 municipalities and five rural municipalities in the district. NEA has intensified the campaign against electricity leakage in the district, according to Jha. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-04', 'modified' => '2024-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '19883', 'image' => '20240204093458_collage (22).jpg', 'article_date' => '2024-02-04 09:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '20155', 'article_category_id' => '1', 'title' => 'Call to Return Nepali Recruits in Russian Army ', 'sub_title' => '', 'summary' => 'February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 3: The families of the Nepali recruits in the Russian Army have requested the government to take diplomatic initiative for the return of their loved ones. Organising a press conference in the capital on Friday, the family members demanded that the Nepalis enlisted in the Russian Army be rescued and brought back to the country safely. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at the event, Tina Ghimire requested the government to create a safe environment for her husband Padam Ghimire to return home. He is reportedly out of contact since the past few months. A permanent resident of Udayapur, Ghimire is a retired Nepalese Army personnel and spent around Rs 900,000 to join the Russian Army, according to his family. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, Sumi Chamling of Ilam requested the government to search for her brother Rajkumar Mukhiya who has been missing since joining the Russian Army. She also shared that Bikram Bhujel and Rajendra Tamang from her village had also joined the Russian Army and are out of contact at present. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandani Bista of Bhaktapur said that her husband Bibhajan, brother-in-law Nirajan and grandson Lokendra are in contact but wanted them to be returned back to the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, Suman Rai, who returned home after joining the Russian Army, drew the attention of the government to rescue and repatriate the Nepali nationals who have been recruited in the Russian Army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Foreign Affairs has urged Nepal citizens not to get recruited in the military service of the war-ravaged nations on the basis of false information or temptation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has repeatedly urged Russia not to recruit Nepali citizens in its military rank and file and to send back any Nepali citizen who is currently serving in the army. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ministry has also sought information from Russia about the number of Nepalis who have joined the Russian Army, in addition to the injured ones and their condition but to no avail. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19882', 'image' => '20240203103517_20240112111355_20220719459a988fb97e63ab3ae.jpg', 'article_date' => '2024-02-03 10:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20154', 'article_category_id' => '1', 'title' => 'KMC to Manage only Segregated Waste ', 'sub_title' => '', 'summary' => 'February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The Kathmandu Metropolitan City (KMC) has decided to manage only segregated waste for the effective waste management in the metropolis. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC says it will start the classification process from Ward No 5, 12 and 27 immediately. After some time, it will manage only the classified waste from all 32 wards. According to Rabin Man Shrestha, the head of KMC's Environment Management Department, even though the KMC had announced to manage waste only after classification a year and a half ago, the process was not implemented effectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC is also working towards identifying the land for managing the collected classified waste at Bancharedanda, said Shrestha. Along with the classification and collection of waste, the KMC will make arrangement for sale of recyclable waste materials that are found during the classification of the waste. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The KMC also plans to make the residents of KMC aware about the benefits and need of classifying and separating garbage at source, he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-02-03', 'modified' => '2024-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '19881', 'image' => '20240203102709_20200903113103_1599056781.jpg', 'article_date' => '2024-02-03 10:25:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20152', 'article_category_id' => '1', 'title' => 'Increase in Interest Rates Should Require Borrowers’ Consent: UML Chair Oli', 'sub_title' => '', 'summary' => 'CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 2: CPN (UML) Chair KP Sharma Oli has emphasized the need for mutual consent of both parties involved in banking transactions to increase bank interest rates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Addressing the 7th National Convention of the Nepal Bank, Insurance and Financial Institutions Employees' Association at the UML Central Office in Chyasal of Lalitpur on Friday, Oli stressed the need to make provisions mandating that banks take consent of the borrowers before they hike the bank interest rates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The UML Chair accused the banks and financial institutions of inflating interest rates unilaterally. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The banking interest on loans increases substantially in a short span of time putting borrowers in trouble to repay the loan, triggering the banks to seize the collateral and sell it”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Advising the banks and financial institutions to change the interest rates with consent of the borrowers, Oli held that banks have bigger duty of monitoring and helping their clients instead of seizing the collateral and selling it. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Oli also called for monitoring whether the amount invested by the banks is properly utilized or not. He reiterated that the banks should support the development and they should provide loans to those people willing to start a new venture from the small capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Dr Yub Raj Khatiwada urged the government to intensify efforts to improve the economy of the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19879', 'image' => '20240202061132_collage (21).jpg', 'article_date' => '2024-02-02 18:09:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20151', 'article_category_id' => '1', 'title' => 'Unannounced Power Cuts Causing Trouble for Industries', 'sub_title' => '', 'summary' => 'February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 2: The second term of Kulman Ghising, who won accolades in his first term as the executive director of Nepal Electricity Authority, has become controversial. Ghising, who announced the end of load shedding, is now being criticized for not being able to provide regular electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, he cut the lines of around two dozen industries for non-payment of the electricity tariff for using the dedicated feeder and trunk line, drawing widespread criticism.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ghising convinced Prime Minister Pushpa Kamal Dahal to cut the lines to the industries but later the government instructed the NEA to restore the lines against the will of Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Council of Ministers even decided to settle the tax dispute by forming a commission against his will.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The government directed the NEA to reconnect electricity to the industries until the commission finds a solution. The NEA has been accused of determining the electricity tariff of dedicated and trunk lines arbitrarily.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Even though the NEA has reconnected the lines, the industries complain that they are not getting the required amount of electricity and that there is power cuts for <span style="font-family:"Arial Unicode MS","sans-serif"">10</span> to <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours a day.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The big industries of Bara-Parsa, which is the country's biggest industrial corridor, have been severely affected by this. The industrialists of Bara-Parsa, who have been affected by the power cut, have requested Ghising to provide regular power supply to the industries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They have suggested him to step down if he cannot solve the problem.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“At one time, he was praised for getting rid of load shedding. Now, it is better for him to resign than to court controversy,” said one of the industrialists.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">They said that industries that produce as iron, cement and other industries that require more electricity have been badly affected by the erratic power supply as those industries were built with large investments. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Dipesh Agarwal, chairman of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, they are facing <span style="font-family:"Arial Unicode MS","sans-serif"">12</span> hours of power cut every day in the industries of the corridor. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"When the line is cut without any prior notice, it cause damage to the panel boards, motors and other equipment of the industry. It results in the wastage of raw materials and the quality of the product is compromised,” said Agrawal, adding, “Our industry was shut down for five days when one of the equipment broke down. Who will provide the compensation?”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Industrialists said that it is becoming difficult to operate the industries due to frequent power cuts. The industry employs workers in <span style="font-family:"Arial Unicode MS","sans-serif"">8-</span>hour shifts. They say that there is a problem in the management of workers since there is no fixed time for power cuts.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists complained that they have to pay the workers even if they have no work due to power cut. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Awadhesh Dube, head of Nepal Electricity Authority, Birgunj Distribution Center, says that they are forced to halt electricity supply to the industries for load management due to the decrease in electricity production and less import from India. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The authority has been managing the demand for electricity by importing energy from India when the production is low in winter. At present, there has been a decline in import of electricity,” he said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The industrialists have requested the authority to make a timetable if it has to cut electricity supply.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, said that they met the Deputy Executive Director of the Authority, Manoj Silwal, and requested him to prepare a schedule. "We face lots of problems if the electricity supply is halted randomly,” he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19878', 'image' => '20240202025118_elec.jpg', 'article_date' => '2024-02-02 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20150', 'article_category_id' => '1', 'title' => 'Over 5,400 Hectares of Land in Kailali, Kanchanpur get Irrigation Facility ', 'sub_title' => '', 'summary' => 'February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Irrigation facility is available on around 5,487 hectares of land throughout the year in Kailali and Kanchanpur districts through deep and shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Groundwater Resources and Irrigation Division Development Office, the irrigation facility has been provided to 5,487 hectares of land so far after the country adopted the federal structure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Division Chief Shrawan Khanal said a total of 140 deep tube-wells have been installed in Kailai, Kanchanpur and Dadeldhura districts after the establishment of provinces. Out of the installed deep tube-wells, 91 are in operation while other structures are in course of construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deep and shallow tube-wells have been installed in order to provide irrigation facility to the farms of the farmers throughout the year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal added that </span>t<span style="font-family:"Arial Unicode MS","sans-serif"">he Division Office did not allocate budget to install the shallow tube-wells in the current fiscal year as the responsibility was handed over to the local level to install shallow tube-wells. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that Rs 1.2 million budget was given to local levels under fiscal transfer to install shallow tube-wells. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-02', 'modified' => '2024-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '19877', 'image' => '20240202022345_irrigat.jpg', 'article_date' => '2024-02-02 14:23:04', '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
