Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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			'id' => '3723',
			'article_category_id' => '1',
			'title' => 'SEBON and NEPSE Dispute over NLIC FPO',
			'sub_title' => '',
			'summary' => 'June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). SEBON has halted the share trading of NLIC citing publicising further public issue (FPO) plan without obtaining approval from SEBON. Recently, NLIC has publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.',
			'content' => '<p style="text-align: justify;">June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). The regulator issued the directive citing that the NLIC has made the further public offering (FPO) plan public without obtaining approval from SEBON. NLIC publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.</p>

<p style="text-align: justify;">NLIC announced the FPO plan by sending the information to NEPSE. Earlier, NEPSE directed companies to inform such influential decisions before the opening of the market. As per NEPSE&rsquo;s directive, if such decisions are taken after the closure of the market, then such decisions have to be informed by the next day before the market opens. Apparently, NEPSE posted the information at 10:47 AM on June 9 in its website. SEBON expressed its fury over NEPSE&rsquo;s for directly publicising the information.</p>

<p style="text-align: justify;">&ldquo;Why did NEPSE post such information that needs justification as the premium quoted is high,&rdquo; says Dr Rewat Bahadur Karki, Chairman of SEBON. According to him, NEPSE should have consulted with SEBON before publicising the information.</p>

<p style="text-align: justify;">Meanwhile, NEPSE clarifies that it took the action after evaluating the risk of potential leakage of the information which would have further manipulated the market. The stock exchange maintained that it was forced to make the information public as holding of such information for a long period would have meant otherwise. Nevertheless, both SEBON and NEPSE agree that the company&rsquo;s acts were aimed towards manipulation of the market. &nbsp;SEBON in this regard hinted of taking action against the related company. &ldquo;How can the company fix a premium?,&rdquo; questioned Karki.</p>

<p style="text-align: justify;">However, NEPSE opined that SEBON is letting the companies to fix such prices. &ldquo;It is SEBON&rsquo;s weakness not to set limit for premium rates in FPOs as in IPOs,&rdquo; says a NEPSE source. The source also mentioned that such problem would not have appeared if the regulator had revealed the setting of premium rates in earlier FPOs.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3557',
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			'id' => '3722',
			'article_category_id' => '1',
			'title' => 'Ncell Saddened by Attacks on Telecom Infrastructure',
			'sub_title' => '',
			'summary' => 'June 12: Ncell has expressed its sadness on the arson of its telecom infrastructures. Some unidentified groups set Ncell's 10 base stations (BTS) on fire on June 11, damaging important infrastructures in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, "Attacks on critical infrastructures that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.',
			'content' => '<p>June 12: Ncell has expressed its&nbsp;sadness over the arson and sabotage&nbsp;of its telecom infrastructures. Some unidentified groups set Ncell&#39;s 10 base stations (BTS) on fire on June 11, damaging important infrastructure in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, &quot;Attacks on critical infrastructure that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.&quot;</p>

<p>The company informs that after the arsons and sabotages, about 250,000 its customers have become&nbsp;networkless. Mahendra Bhattachan, security director of Ncell said, &ldquo;After this attack, the rights on network access of public have been violated.&quot; Ncell also appeals to the authorities for their support to uphold essential services law so that highly essential services are not disturbed.</p>

<p>&ldquo;We would also like to request all to be cautious towards such unruly activities that could affect Ncell&rsquo;s 14 million customers directly indirectly,&rdquo; said Milan Sharma, Corporate Communications Expert of Ncell.&nbsp;</p>
',
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			'sortorder' => '3556',
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		'Article' => array(
			'id' => '3721',
			'article_category_id' => '1',
			'title' => 'Shine Resunga and Gaumukhi Start Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.',
			'content' => '<p>June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.</p>

<p>The joint transaction was inaugurated by the Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. Speaking at the inauguration ceremony, Nepal said, &ldquo;Many banks are encouraged due to the new provision of paid-up capital&rdquo;. According to him, the paid-up capital of the banks has been increased to leap in economic development of the country.</p>

<p>After the merger, the paid-up capital and deposits of the bank have reached Rs 868.4 million and Rs 8.4 billion respectively. &ldquo;Following the merger, the bank will provide its services through 26 branches including the central office in Butwal and two extension counters,&rdquo; says Prakash Poudel, CEO of the bank.</p>

<p>Similarly, the bank has announced to donate Rs 50,001 for the development of cultural and tourist area, Swargadwari.</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3555',
			'image' => '20160612013344_shine.jpg',
			'article_date' => '2016-06-12 00:00:00',
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			'id' => '3720',
			'article_category_id' => '1',
			'title' => 'IME in 16th year ',
			'sub_title' => '',
			'summary' => 'June 12: Remittance Company IME has entered in 16th year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.',
			'content' => '<p style="text-align: justify;">June 12: Remittance Company IME has entered in 16<sup>th</sup> year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.</p>

<p style="text-align: justify;">According to the company, it has been assisting health security, social causes, and education and environment sectors through its CSR activities. In the anniversary program, the company honored the employees who have worked for a decade in the company and who performed best in various categories.</p>

<p style="text-align: justify;">The company that has been providing international remittance services to its customers was established in 2001. Presently, the company has nearly 100,000 agent outlets worldwide and 5000 agent outlets in internal remittance including 140 IME centers and 4,800 agent outlets.&nbsp;</p>
',
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			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3554',
			'image' => '20160612012107_ime.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3719',
			'article_category_id' => '1',
			'title' => 'Flag of Jasmine Paints on Mt. Everest',
			'sub_title' => '',
			'summary' => 'June 12: A flag with the logo of Jasmine Paints, a subsidiary company of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.',
			'content' => '<p style="text-align:justify">June 12: A flag with the logo of Jasmine Paints, a company under the flagship of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.</p>

<p style="text-align:justify">Issuing a press statement, the company informs that it is the first paint company to wave the flag on the top of Everest. Additionally, it informs of conducting CSR activities from normal circumstances to the devastating earthquake of the last year and commits to continue such activities.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3553',
			'image' => '20160612124120_jasmine.JPG',
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		'Article' => array(
			'id' => '3718',
			'article_category_id' => '1',
			'title' => 'CG's Cashback Scheme',
			'sub_title' => '',
			'summary' => 'June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products.',
			'content' => '<p style="text-align: justify;">June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products. Issuing a press statement, LG informed that it will provide LG Soundbar NB 2403 A worth Rs 17,790 on the purchases of 65 inches UG 870 T, 65 inches &nbsp;UF 850 T, 55 inches EC 930 T and 49 inches UF 850 T smart TVs under the scheme. Similarly, the company will provide LG Magic Motion Remote worth Rs 5090 on the purchases of 43 inches UF 690 T, 60 inches LF 630 T, 55 inches LF 630 T, 49 inches LF 630 T, 49 inches LF 5900, 43 inches LF 5900, 40 inches LF 630 T smart TVs.</p>

<p style="text-align: justify;">Likewise, the company will give heavy discount to its customers on the purchases of 32 inches LF571D. &nbsp;43 inches LF510A, 43 inches LF5400, 32 inches LF550B, 323 inches LF510A LED Game TVs are also available with heavy discount. According to the company, the scheme has been implemented from June 10.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3552',
			'image' => '20160612121954_cg.jpg',
			'article_date' => '2016-06-12 00:00:00',
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		'Article' => array(
			'id' => '3716',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Starts Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level ‘C’ graded bank.',
			'content' => '<p>June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level &lsquo;C&rsquo; graded bank.</p>

<p>&ldquo;SDBL is the first bank to make the merger agreement after Nepal Rastra Bank (NRB) issued directive to increase paid up capital to Rs 8 billion,&rdquo; informed the bank in the program.</p>

<p>According to the bank, the bank has paid-up capital of Rs 1.14 billion, deposits of Rs 12 billion and Rs 10 billion loans after the merger. The bank claims to be the second largest development bank in terms of capital across the country. The branch number of the SDBL has reached 33 after the merger.</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3550',
			'image' => '20160612115705_sid.jpg',
			'article_date' => '2016-06-12 00:00:00',
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			'id' => '3715',
			'article_category_id' => '1',
			'title' => 'NB Bank in Wildlife Conservation',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Bangladesh Bank (NB) will continue wildlife conservation program under its corporate social responsibility. The bank is promoting the second edition of ‘Nature through Lens’ fair in this regard. Moreover, the bank will tie up with Wildlife Conservation Nepal for this purpose. Additionally, the bank will establish a fund to plant highly valued 25,000 plants. The bank will also organize awareness program for nature conservation through photography.',
			'content' => '<p style="text-align:justify">June 10: Nepal Bangladesh Bank (NB) is starting wildlife conservation campaign under its CSR initiative. The bank is promoting the second edition of &lsquo;Nature through Lens&rsquo; fair. The bank is partnering with the Wildlife Conservation Nepal for the purpose. In addition to the new initiative, the NB bank will establish a fund to plantation of 25,000 highly valued plants. The bank will also organise awareness program for the nature conservation through photography.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3549',
			'image' => '20160610042349_nb.jpg',
			'article_date' => '2016-06-10 00:00:00',
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		'Article' => array(
			'id' => '3714',
			'article_category_id' => '1',
			'title' => 'MoneyGram Partners with iPay',
			'sub_title' => '',
			'summary' => 'June 10:  MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram’s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. “This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,” the company said in a press statement.  ',
			'content' => '<p>June 10: &nbsp;MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram&rsquo;s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. &ldquo;This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,&rdquo; the company said in a press statement. &nbsp;</p>

<p>Sheshagiri Malliah, MoneyGram&rsquo;s Regional Director (South Asia) and Surhid Ghimire, President of Continental Group jointly inaugurated the dedicated Centre for MoneyGram Payment Service and Customer Support at Bhatbhateni, Kathmandu on June 9. &ldquo;With MoneyGram Global Send Network, customer can collect fund from authorized outlet of iPay&rsquo;s centers spread across Nepal,&rdquo; reads the statement. &nbsp;</p>

<p>&ldquo;MoneyGram is committed to making its services easy and convenient for all of its customers in Nepal and the thousands of expatriates that remit money back home,&rdquo; says Malliah. &ldquo;By partnering with iPay, our customers in Nepal will have more choices especially in convenience to collect payments sent globally.&rdquo;</p>

<p><strong>Talk Time Scheme</strong></p>

<p>Marking the occasion, iPay announces free talk time to its MoneyGram Customers. Under the scheme, customer receiving payment will receive a scratch card and lucky winner can win talk time value up to Rs 1,000. Further, the company also committed that none of their MG customers will be returned empty handed. &nbsp;The company has aimed to bring programs to benefit the customers and its agent partner in annual basis.</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3548',
			'image' => '20160610040842_money gram.jpg',
			'article_date' => '2016-06-10 00:00:00',
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		'Article' => array(
			'id' => '3713',
			'article_category_id' => '1',
			'title' => 'COLORS Launches P50',
			'sub_title' => '',
			'summary' => 'June 10: Colors Mobile has launched new X-Factor Pride P50 smartphone in its Pride Series. “To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50% of the data plan,” informs the company in a press statement.',
			'content' => '<p>June 10: Colors Mobile has launched new X-Factor Pride P50 in the market. The handset is the latest in the Colors Pride series smartphone. &ldquo;To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50 percent of the data plan,&rdquo; informs the company in a press statement.</p>

<p>Colors X-Factor P50 comes with a 5 inch HD IPS Screen and 8GB ROM along with 1GB RAM which can be further expandable up to 32GB by micro-SD card. Powered by a 1.3 GHz quad-core processer, the new Colors smartphone has 5 MP rear and 2 MP front cameras.</p>

<p>Running on Android Marshmallow 6.0 operating system, Pride P50 houses a 2,200 mAh Lithion-ion battery. &ldquo;With this new launch in Pride series, we &nbsp;not only want to upgrade the bar phone users to smart phone, but also to explore the widest usage with the latest smartphone features at budget price&rdquo;, says Raj Jung Thapa, Marketing Manager of Colors Mobile.</p>

<p>&ldquo;With the apt specifications that make life easier with best features, we have lots of hope with this new product in this line, with the sleek and stylish design like no other product in Nepalese Market&rdquo; says Sanjay Agrawal, CEO of Teletalk, the authorised distributor of Colors mobiles in Nepal. The smartphone is priced at Rs. 7,495.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3547',
			'image' => '20160610021307_p50.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '3712',
			'article_category_id' => '1',
			'title' => 'Suzuki’s Free Check-up and Exchange Camp',
			'sub_title' => '',
			'summary' => 'June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. “Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12” said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.',
			'content' => '<p>June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. &ldquo;Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12&rdquo; said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.</p>

<p>The camp also included vehicle exchange facility (old with new). The company is also offering finance facility on five percent interest rate on the exchange of vehicles. Meanwhile, free ownership transfer and discount on vehicle tax are also available for the buyers. &nbsp; &nbsp; &nbsp;</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
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			'sortorder' => '3546',
			'image' => '20160610020404_suzuki.jpg',
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		'Article' => array(
			'id' => '3711',
			'article_category_id' => '1',
			'title' => 'MoneyGram Foundation Rebuilds 10 Schools ',
			'sub_title' => '',
			'summary' => 'June 10: MoneyGram (NASDAQ: MGI) has completed the construction of ten primary schools in the areas devastated by the last year’s earthquake.  “The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,” informs the company in a press statement.  According to the statement, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal. ',
			'content' => '<p style="text-align:justify">June 10:&nbsp;MoneyGram &nbsp;has completed the construction of ten primary schools in the areas devastated by the last year&rsquo;s earthquake.&nbsp; &ldquo;The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,&rdquo; informs the international money transfer service in a press statement.&nbsp; According to the company, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal.&nbsp;</p>

<p>&nbsp;&ldquo;We hope the schools we built with Chaudhary Foundation will transform the lives of these students and enable them to make a significant contribution to rebuild Nepal beyond the 2015 earthquakes that devastated their school system and communities,&rdquo; said SheshaGiri Malliah, MoneyGram&rsquo;s Regional Director for South Asia.</p>

<p>&ldquo;Chaudhary Foundation has always welcomed and facilitated anyone who would like to support Nepal. MoneyGram Foundation&rsquo;s support in the past 12 months has been deeply appreciated and we hope in the future too they continue to support the development of Nepal,&rdquo; said Moon Lee, Vice President of Chaudhary Group.</p>

<p>More than 4 million students were affected after almost 30,000 school buildings were severely damaged or completely destroyed by last year&rsquo;s earthquake.&ldquo; The rebuilding effort has been informed to respective authorities and headed by construction engineers working with the Chaudhary Foundation who work on cost to cost basis without overheads and administrative expenses,&rdquo; reads the statement.</p>
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			'id' => '3710',
			'article_category_id' => '1',
			'title' => 'Pigeon's Ultra Modern Kitchen Appliance in Nepal',
			'sub_title' => '',
			'summary' => 'June 10: CG electronics has launches Pigeon's wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.',
			'content' => '<p style="text-align: justify;">June 10: CG electronics has launches Pigeon&#39;s wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.</p>
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			'id' => '3709',
			'article_category_id' => '1',
			'title' => 'NLIC Appoints Siddhartha Capital as Issue Manager ',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. “The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,” informs the company in a press statement.',
			'content' => '<p style="text-align:justify">June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. &ldquo;The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,&rdquo; informs the company in a press statement.</p>

<p style="text-align:justify">Bibek Jha, CEO of Nepal Life Insurance and Dhurba Timilsina, CEO of Siddhartha Capital signed on the agreement on June 9.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3543',
			'image' => '20160610115931_Nepal life.jpg',
			'article_date' => '2016-06-10 00:00:00',
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			'article_category_id' => '1',
			'title' => 'FPO with the Highest Premium till Date in the Offing',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance (NLIC) is planning to issue its further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of FPO at the price of Rs 2951 per unit. The premium rate is the highest of all time. NLIC will collect Rs 9.13 billion if it issues the FPO in the said rate. Presently, the company has Rs 1.73 billion paid-up capital.',
			'content' => '<p>June 10: Nepal Life Insurance (NLIC) is planning to issue further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of shares at the price of Rs 2,951 per unit. The premium rate of the company has been recorded highest of all time. NLIC will collect Rs 9.13 billion with the proposed FPO. Presently, the company has Rs 1.73 billion in paid-up capital.</p>

<p>Earlier, Nepal Telecom had issued equity shares at premium through auction bidding. During the auction bidding, shares of NT pegged maximum of Rs 2,500 per unit. Although investors refuse to mention the shares premium since NT sold the shares by auction bidding. However, there is a mechanism to issue primary shares at premium too. Securities Registration and Issue Regulation 2008 has clearly mentioned that securities may be issued at premium while remaining within the limit of Net Worth per Share derived from the latest audit.</p>

<p>The regulation however has not set limit on premium amount while issuing FPO. Even though companies cannot charge any rate as premium while issuing general shares. The premium that the company wished to levied should be justified and based by the financial indicators of the company. &ldquo;The regulation demands basis and justification of price. We decide the appropriate rate only after studying the rate,&rdquo; says Niraj Giri, Spokesperson and Executive Director of the Securities Board of Nepal (SEBON).</p>

<p>FPO price is fixed on the basis of net worth and market price of the proceeding company. Currently, the&nbsp;<span style="line-height:20.8px">NLIC share&nbsp;</span><span style="line-height:1.6">price has increased by Rs 408 to Rs 4,488 in the secondary market. Similarly, the net worth per share of the company in the third quarter of the current FY is at Rs 149. The proposed price is 20 folds more than the net worth and 65.75 percent of the market price of the company&rsquo;s share. Interestingly, Shikhar Insurance and Nepal Investment Bank Limited that have issued FPO earlier in the year had also fixed their share price at 65-75 percent of their market price.</span></p>

<p>SEBON, however, has stated that only after the detailed study of the proposed price, approval will be given to the proposed rate.&nbsp;</p>
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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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
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		'Article' => array(
			'id' => '3723',
			'article_category_id' => '1',
			'title' => 'SEBON and NEPSE Dispute over NLIC FPO',
			'sub_title' => '',
			'summary' => 'June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). SEBON has halted the share trading of NLIC citing publicising further public issue (FPO) plan without obtaining approval from SEBON. Recently, NLIC has publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.',
			'content' => '<p style="text-align: justify;">June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). The regulator issued the directive citing that the NLIC has made the further public offering (FPO) plan public without obtaining approval from SEBON. NLIC publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.</p>

<p style="text-align: justify;">NLIC announced the FPO plan by sending the information to NEPSE. Earlier, NEPSE directed companies to inform such influential decisions before the opening of the market. As per NEPSE&rsquo;s directive, if such decisions are taken after the closure of the market, then such decisions have to be informed by the next day before the market opens. Apparently, NEPSE posted the information at 10:47 AM on June 9 in its website. SEBON expressed its fury over NEPSE&rsquo;s for directly publicising the information.</p>

<p style="text-align: justify;">&ldquo;Why did NEPSE post such information that needs justification as the premium quoted is high,&rdquo; says Dr Rewat Bahadur Karki, Chairman of SEBON. According to him, NEPSE should have consulted with SEBON before publicising the information.</p>

<p style="text-align: justify;">Meanwhile, NEPSE clarifies that it took the action after evaluating the risk of potential leakage of the information which would have further manipulated the market. The stock exchange maintained that it was forced to make the information public as holding of such information for a long period would have meant otherwise. Nevertheless, both SEBON and NEPSE agree that the company&rsquo;s acts were aimed towards manipulation of the market. &nbsp;SEBON in this regard hinted of taking action against the related company. &ldquo;How can the company fix a premium?,&rdquo; questioned Karki.</p>

<p style="text-align: justify;">However, NEPSE opined that SEBON is letting the companies to fix such prices. &ldquo;It is SEBON&rsquo;s weakness not to set limit for premium rates in FPOs as in IPOs,&rdquo; says a NEPSE source. The source also mentioned that such problem would not have appeared if the regulator had revealed the setting of premium rates in earlier FPOs.</p>

<p style="text-align: justify;">&nbsp;</p>
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			'id' => '3722',
			'article_category_id' => '1',
			'title' => 'Ncell Saddened by Attacks on Telecom Infrastructure',
			'sub_title' => '',
			'summary' => 'June 12: Ncell has expressed its sadness on the arson of its telecom infrastructures. Some unidentified groups set Ncell's 10 base stations (BTS) on fire on June 11, damaging important infrastructures in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, "Attacks on critical infrastructures that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.',
			'content' => '<p>June 12: Ncell has expressed its&nbsp;sadness over the arson and sabotage&nbsp;of its telecom infrastructures. Some unidentified groups set Ncell&#39;s 10 base stations (BTS) on fire on June 11, damaging important infrastructure in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, &quot;Attacks on critical infrastructure that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.&quot;</p>

<p>The company informs that after the arsons and sabotages, about 250,000 its customers have become&nbsp;networkless. Mahendra Bhattachan, security director of Ncell said, &ldquo;After this attack, the rights on network access of public have been violated.&quot; Ncell also appeals to the authorities for their support to uphold essential services law so that highly essential services are not disturbed.</p>

<p>&ldquo;We would also like to request all to be cautious towards such unruly activities that could affect Ncell&rsquo;s 14 million customers directly indirectly,&rdquo; said Milan Sharma, Corporate Communications Expert of Ncell.&nbsp;</p>
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		'Article' => array(
			'id' => '3721',
			'article_category_id' => '1',
			'title' => 'Shine Resunga and Gaumukhi Start Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.',
			'content' => '<p>June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.</p>

<p>The joint transaction was inaugurated by the Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. Speaking at the inauguration ceremony, Nepal said, &ldquo;Many banks are encouraged due to the new provision of paid-up capital&rdquo;. According to him, the paid-up capital of the banks has been increased to leap in economic development of the country.</p>

<p>After the merger, the paid-up capital and deposits of the bank have reached Rs 868.4 million and Rs 8.4 billion respectively. &ldquo;Following the merger, the bank will provide its services through 26 branches including the central office in Butwal and two extension counters,&rdquo; says Prakash Poudel, CEO of the bank.</p>

<p>Similarly, the bank has announced to donate Rs 50,001 for the development of cultural and tourist area, Swargadwari.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3555',
			'image' => '20160612013344_shine.jpg',
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			'id' => '3720',
			'article_category_id' => '1',
			'title' => 'IME in 16th year ',
			'sub_title' => '',
			'summary' => 'June 12: Remittance Company IME has entered in 16th year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.',
			'content' => '<p style="text-align: justify;">June 12: Remittance Company IME has entered in 16<sup>th</sup> year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.</p>

<p style="text-align: justify;">According to the company, it has been assisting health security, social causes, and education and environment sectors through its CSR activities. In the anniversary program, the company honored the employees who have worked for a decade in the company and who performed best in various categories.</p>

<p style="text-align: justify;">The company that has been providing international remittance services to its customers was established in 2001. Presently, the company has nearly 100,000 agent outlets worldwide and 5000 agent outlets in internal remittance including 140 IME centers and 4,800 agent outlets.&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3554',
			'image' => '20160612012107_ime.jpg',
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		'Article' => array(
			'id' => '3719',
			'article_category_id' => '1',
			'title' => 'Flag of Jasmine Paints on Mt. Everest',
			'sub_title' => '',
			'summary' => 'June 12: A flag with the logo of Jasmine Paints, a subsidiary company of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.',
			'content' => '<p style="text-align:justify">June 12: A flag with the logo of Jasmine Paints, a company under the flagship of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.</p>

<p style="text-align:justify">Issuing a press statement, the company informs that it is the first paint company to wave the flag on the top of Everest. Additionally, it informs of conducting CSR activities from normal circumstances to the devastating earthquake of the last year and commits to continue such activities.&nbsp;</p>
',
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			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3553',
			'image' => '20160612124120_jasmine.JPG',
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		'Article' => array(
			'id' => '3718',
			'article_category_id' => '1',
			'title' => 'CG's Cashback Scheme',
			'sub_title' => '',
			'summary' => 'June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products.',
			'content' => '<p style="text-align: justify;">June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products. Issuing a press statement, LG informed that it will provide LG Soundbar NB 2403 A worth Rs 17,790 on the purchases of 65 inches UG 870 T, 65 inches &nbsp;UF 850 T, 55 inches EC 930 T and 49 inches UF 850 T smart TVs under the scheme. Similarly, the company will provide LG Magic Motion Remote worth Rs 5090 on the purchases of 43 inches UF 690 T, 60 inches LF 630 T, 55 inches LF 630 T, 49 inches LF 630 T, 49 inches LF 5900, 43 inches LF 5900, 40 inches LF 630 T smart TVs.</p>

<p style="text-align: justify;">Likewise, the company will give heavy discount to its customers on the purchases of 32 inches LF571D. &nbsp;43 inches LF510A, 43 inches LF5400, 32 inches LF550B, 323 inches LF510A LED Game TVs are also available with heavy discount. According to the company, the scheme has been implemented from June 10.&nbsp;</p>
',
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			'created' => '2016-06-12',
			'modified' => '2016-06-12',
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			'description' => '',
			'sortorder' => '3552',
			'image' => '20160612121954_cg.jpg',
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		'Article' => array(
			'id' => '3716',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Starts Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level ‘C’ graded bank.',
			'content' => '<p>June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level &lsquo;C&rsquo; graded bank.</p>

<p>&ldquo;SDBL is the first bank to make the merger agreement after Nepal Rastra Bank (NRB) issued directive to increase paid up capital to Rs 8 billion,&rdquo; informed the bank in the program.</p>

<p>According to the bank, the bank has paid-up capital of Rs 1.14 billion, deposits of Rs 12 billion and Rs 10 billion loans after the merger. The bank claims to be the second largest development bank in terms of capital across the country. The branch number of the SDBL has reached 33 after the merger.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3550',
			'image' => '20160612115705_sid.jpg',
			'article_date' => '2016-06-12 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '3715',
			'article_category_id' => '1',
			'title' => 'NB Bank in Wildlife Conservation',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Bangladesh Bank (NB) will continue wildlife conservation program under its corporate social responsibility. The bank is promoting the second edition of ‘Nature through Lens’ fair in this regard. Moreover, the bank will tie up with Wildlife Conservation Nepal for this purpose. Additionally, the bank will establish a fund to plant highly valued 25,000 plants. The bank will also organize awareness program for nature conservation through photography.',
			'content' => '<p style="text-align:justify">June 10: Nepal Bangladesh Bank (NB) is starting wildlife conservation campaign under its CSR initiative. The bank is promoting the second edition of &lsquo;Nature through Lens&rsquo; fair. The bank is partnering with the Wildlife Conservation Nepal for the purpose. In addition to the new initiative, the NB bank will establish a fund to plantation of 25,000 highly valued plants. The bank will also organise awareness program for the nature conservation through photography.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3549',
			'image' => '20160610042349_nb.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '3714',
			'article_category_id' => '1',
			'title' => 'MoneyGram Partners with iPay',
			'sub_title' => '',
			'summary' => 'June 10:  MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram’s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. “This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,” the company said in a press statement.  ',
			'content' => '<p>June 10: &nbsp;MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram&rsquo;s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. &ldquo;This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,&rdquo; the company said in a press statement. &nbsp;</p>

<p>Sheshagiri Malliah, MoneyGram&rsquo;s Regional Director (South Asia) and Surhid Ghimire, President of Continental Group jointly inaugurated the dedicated Centre for MoneyGram Payment Service and Customer Support at Bhatbhateni, Kathmandu on June 9. &ldquo;With MoneyGram Global Send Network, customer can collect fund from authorized outlet of iPay&rsquo;s centers spread across Nepal,&rdquo; reads the statement. &nbsp;</p>

<p>&ldquo;MoneyGram is committed to making its services easy and convenient for all of its customers in Nepal and the thousands of expatriates that remit money back home,&rdquo; says Malliah. &ldquo;By partnering with iPay, our customers in Nepal will have more choices especially in convenience to collect payments sent globally.&rdquo;</p>

<p><strong>Talk Time Scheme</strong></p>

<p>Marking the occasion, iPay announces free talk time to its MoneyGram Customers. Under the scheme, customer receiving payment will receive a scratch card and lucky winner can win talk time value up to Rs 1,000. Further, the company also committed that none of their MG customers will be returned empty handed. &nbsp;The company has aimed to bring programs to benefit the customers and its agent partner in annual basis.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3548',
			'image' => '20160610040842_money gram.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '3713',
			'article_category_id' => '1',
			'title' => 'COLORS Launches P50',
			'sub_title' => '',
			'summary' => 'June 10: Colors Mobile has launched new X-Factor Pride P50 smartphone in its Pride Series. “To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50% of the data plan,” informs the company in a press statement.',
			'content' => '<p>June 10: Colors Mobile has launched new X-Factor Pride P50 in the market. The handset is the latest in the Colors Pride series smartphone. &ldquo;To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50 percent of the data plan,&rdquo; informs the company in a press statement.</p>

<p>Colors X-Factor P50 comes with a 5 inch HD IPS Screen and 8GB ROM along with 1GB RAM which can be further expandable up to 32GB by micro-SD card. Powered by a 1.3 GHz quad-core processer, the new Colors smartphone has 5 MP rear and 2 MP front cameras.</p>

<p>Running on Android Marshmallow 6.0 operating system, Pride P50 houses a 2,200 mAh Lithion-ion battery. &ldquo;With this new launch in Pride series, we &nbsp;not only want to upgrade the bar phone users to smart phone, but also to explore the widest usage with the latest smartphone features at budget price&rdquo;, says Raj Jung Thapa, Marketing Manager of Colors Mobile.</p>

<p>&ldquo;With the apt specifications that make life easier with best features, we have lots of hope with this new product in this line, with the sleek and stylish design like no other product in Nepalese Market&rdquo; says Sanjay Agrawal, CEO of Teletalk, the authorised distributor of Colors mobiles in Nepal. The smartphone is priced at Rs. 7,495.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3547',
			'image' => '20160610021307_p50.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 10 => array(
		'Article' => array(
			'id' => '3712',
			'article_category_id' => '1',
			'title' => 'Suzuki’s Free Check-up and Exchange Camp',
			'sub_title' => '',
			'summary' => 'June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. “Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12” said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.',
			'content' => '<p>June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. &ldquo;Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12&rdquo; said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.</p>

<p>The camp also included vehicle exchange facility (old with new). The company is also offering finance facility on five percent interest rate on the exchange of vehicles. Meanwhile, free ownership transfer and discount on vehicle tax are also available for the buyers. &nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3546',
			'image' => '20160610020404_suzuki.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '3711',
			'article_category_id' => '1',
			'title' => 'MoneyGram Foundation Rebuilds 10 Schools ',
			'sub_title' => '',
			'summary' => 'June 10: MoneyGram (NASDAQ: MGI) has completed the construction of ten primary schools in the areas devastated by the last year’s earthquake.  “The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,” informs the company in a press statement.  According to the statement, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal. ',
			'content' => '<p style="text-align:justify">June 10:&nbsp;MoneyGram &nbsp;has completed the construction of ten primary schools in the areas devastated by the last year&rsquo;s earthquake.&nbsp; &ldquo;The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,&rdquo; informs the international money transfer service in a press statement.&nbsp; According to the company, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal.&nbsp;</p>

<p>&nbsp;&ldquo;We hope the schools we built with Chaudhary Foundation will transform the lives of these students and enable them to make a significant contribution to rebuild Nepal beyond the 2015 earthquakes that devastated their school system and communities,&rdquo; said SheshaGiri Malliah, MoneyGram&rsquo;s Regional Director for South Asia.</p>

<p>&ldquo;Chaudhary Foundation has always welcomed and facilitated anyone who would like to support Nepal. MoneyGram Foundation&rsquo;s support in the past 12 months has been deeply appreciated and we hope in the future too they continue to support the development of Nepal,&rdquo; said Moon Lee, Vice President of Chaudhary Group.</p>

<p>More than 4 million students were affected after almost 30,000 school buildings were severely damaged or completely destroyed by last year&rsquo;s earthquake.&ldquo; The rebuilding effort has been informed to respective authorities and headed by construction engineers working with the Chaudhary Foundation who work on cost to cost basis without overheads and administrative expenses,&rdquo; reads the statement.</p>
',
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			'sortorder' => '3545',
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		'Article' => array(
			'id' => '3710',
			'article_category_id' => '1',
			'title' => 'Pigeon's Ultra Modern Kitchen Appliance in Nepal',
			'sub_title' => '',
			'summary' => 'June 10: CG electronics has launches Pigeon's wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.',
			'content' => '<p style="text-align: justify;">June 10: CG electronics has launches Pigeon&#39;s wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3544',
			'image' => '20160610121737_pegion.jpg',
			'article_date' => '2016-06-10 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '3709',
			'article_category_id' => '1',
			'title' => 'NLIC Appoints Siddhartha Capital as Issue Manager ',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. “The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,” informs the company in a press statement.',
			'content' => '<p style="text-align:justify">June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. &ldquo;The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,&rdquo; informs the company in a press statement.</p>

<p style="text-align:justify">Bibek Jha, CEO of Nepal Life Insurance and Dhurba Timilsina, CEO of Siddhartha Capital signed on the agreement on June 9.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3543',
			'image' => '20160610115931_Nepal life.jpg',
			'article_date' => '2016-06-10 00:00:00',
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		'Article' => array(
			'id' => '3708',
			'article_category_id' => '1',
			'title' => 'FPO with the Highest Premium till Date in the Offing',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance (NLIC) is planning to issue its further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of FPO at the price of Rs 2951 per unit. The premium rate is the highest of all time. NLIC will collect Rs 9.13 billion if it issues the FPO in the said rate. Presently, the company has Rs 1.73 billion paid-up capital.',
			'content' => '<p>June 10: Nepal Life Insurance (NLIC) is planning to issue further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of shares at the price of Rs 2,951 per unit. The premium rate of the company has been recorded highest of all time. NLIC will collect Rs 9.13 billion with the proposed FPO. Presently, the company has Rs 1.73 billion in paid-up capital.</p>

<p>Earlier, Nepal Telecom had issued equity shares at premium through auction bidding. During the auction bidding, shares of NT pegged maximum of Rs 2,500 per unit. Although investors refuse to mention the shares premium since NT sold the shares by auction bidding. However, there is a mechanism to issue primary shares at premium too. Securities Registration and Issue Regulation 2008 has clearly mentioned that securities may be issued at premium while remaining within the limit of Net Worth per Share derived from the latest audit.</p>

<p>The regulation however has not set limit on premium amount while issuing FPO. Even though companies cannot charge any rate as premium while issuing general shares. The premium that the company wished to levied should be justified and based by the financial indicators of the company. &ldquo;The regulation demands basis and justification of price. We decide the appropriate rate only after studying the rate,&rdquo; says Niraj Giri, Spokesperson and Executive Director of the Securities Board of Nepal (SEBON).</p>

<p>FPO price is fixed on the basis of net worth and market price of the proceeding company. Currently, the&nbsp;<span style="line-height:20.8px">NLIC share&nbsp;</span><span style="line-height:1.6">price has increased by Rs 408 to Rs 4,488 in the secondary market. Similarly, the net worth per share of the company in the third quarter of the current FY is at Rs 149. The proposed price is 20 folds more than the net worth and 65.75 percent of the market price of the company&rsquo;s share. Interestingly, Shikhar Insurance and Nepal Investment Bank Limited that have issued FPO earlier in the year had also fixed their share price at 65-75 percent of their market price.</span></p>

<p>SEBON, however, has stated that only after the detailed study of the proposed price, approval will be given to the proposed rate.&nbsp;</p>
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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]
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '3723',
			'article_category_id' => '1',
			'title' => 'SEBON and NEPSE Dispute over NLIC FPO',
			'sub_title' => '',
			'summary' => 'June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). SEBON has halted the share trading of NLIC citing publicising further public issue (FPO) plan without obtaining approval from SEBON. Recently, NLIC has publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.',
			'content' => '<p style="text-align: justify;">June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). The regulator issued the directive citing that the NLIC has made the further public offering (FPO) plan public without obtaining approval from SEBON. NLIC publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.</p>

<p style="text-align: justify;">NLIC announced the FPO plan by sending the information to NEPSE. Earlier, NEPSE directed companies to inform such influential decisions before the opening of the market. As per NEPSE&rsquo;s directive, if such decisions are taken after the closure of the market, then such decisions have to be informed by the next day before the market opens. Apparently, NEPSE posted the information at 10:47 AM on June 9 in its website. SEBON expressed its fury over NEPSE&rsquo;s for directly publicising the information.</p>

<p style="text-align: justify;">&ldquo;Why did NEPSE post such information that needs justification as the premium quoted is high,&rdquo; says Dr Rewat Bahadur Karki, Chairman of SEBON. According to him, NEPSE should have consulted with SEBON before publicising the information.</p>

<p style="text-align: justify;">Meanwhile, NEPSE clarifies that it took the action after evaluating the risk of potential leakage of the information which would have further manipulated the market. The stock exchange maintained that it was forced to make the information public as holding of such information for a long period would have meant otherwise. Nevertheless, both SEBON and NEPSE agree that the company&rsquo;s acts were aimed towards manipulation of the market. &nbsp;SEBON in this regard hinted of taking action against the related company. &ldquo;How can the company fix a premium?,&rdquo; questioned Karki.</p>

<p style="text-align: justify;">However, NEPSE opined that SEBON is letting the companies to fix such prices. &ldquo;It is SEBON&rsquo;s weakness not to set limit for premium rates in FPOs as in IPOs,&rdquo; says a NEPSE source. The source also mentioned that such problem would not have appeared if the regulator had revealed the setting of premium rates in earlier FPOs.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'sortorder' => '3557',
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		'Article' => array(
			'id' => '3722',
			'article_category_id' => '1',
			'title' => 'Ncell Saddened by Attacks on Telecom Infrastructure',
			'sub_title' => '',
			'summary' => 'June 12: Ncell has expressed its sadness on the arson of its telecom infrastructures. Some unidentified groups set Ncell's 10 base stations (BTS) on fire on June 11, damaging important infrastructures in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, "Attacks on critical infrastructures that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.',
			'content' => '<p>June 12: Ncell has expressed its&nbsp;sadness over the arson and sabotage&nbsp;of its telecom infrastructures. Some unidentified groups set Ncell&#39;s 10 base stations (BTS) on fire on June 11, damaging important infrastructure in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, &quot;Attacks on critical infrastructure that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.&quot;</p>

<p>The company informs that after the arsons and sabotages, about 250,000 its customers have become&nbsp;networkless. Mahendra Bhattachan, security director of Ncell said, &ldquo;After this attack, the rights on network access of public have been violated.&quot; Ncell also appeals to the authorities for their support to uphold essential services law so that highly essential services are not disturbed.</p>

<p>&ldquo;We would also like to request all to be cautious towards such unruly activities that could affect Ncell&rsquo;s 14 million customers directly indirectly,&rdquo; said Milan Sharma, Corporate Communications Expert of Ncell.&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '3721',
			'article_category_id' => '1',
			'title' => 'Shine Resunga and Gaumukhi Start Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.',
			'content' => '<p>June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.</p>

<p>The joint transaction was inaugurated by the Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. Speaking at the inauguration ceremony, Nepal said, &ldquo;Many banks are encouraged due to the new provision of paid-up capital&rdquo;. According to him, the paid-up capital of the banks has been increased to leap in economic development of the country.</p>

<p>After the merger, the paid-up capital and deposits of the bank have reached Rs 868.4 million and Rs 8.4 billion respectively. &ldquo;Following the merger, the bank will provide its services through 26 branches including the central office in Butwal and two extension counters,&rdquo; says Prakash Poudel, CEO of the bank.</p>

<p>Similarly, the bank has announced to donate Rs 50,001 for the development of cultural and tourist area, Swargadwari.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3555',
			'image' => '20160612013344_shine.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '3720',
			'article_category_id' => '1',
			'title' => 'IME in 16th year ',
			'sub_title' => '',
			'summary' => 'June 12: Remittance Company IME has entered in 16th year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.',
			'content' => '<p style="text-align: justify;">June 12: Remittance Company IME has entered in 16<sup>th</sup> year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.</p>

<p style="text-align: justify;">According to the company, it has been assisting health security, social causes, and education and environment sectors through its CSR activities. In the anniversary program, the company honored the employees who have worked for a decade in the company and who performed best in various categories.</p>

<p style="text-align: justify;">The company that has been providing international remittance services to its customers was established in 2001. Presently, the company has nearly 100,000 agent outlets worldwide and 5000 agent outlets in internal remittance including 140 IME centers and 4,800 agent outlets.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3554',
			'image' => '20160612012107_ime.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '3719',
			'article_category_id' => '1',
			'title' => 'Flag of Jasmine Paints on Mt. Everest',
			'sub_title' => '',
			'summary' => 'June 12: A flag with the logo of Jasmine Paints, a subsidiary company of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.',
			'content' => '<p style="text-align:justify">June 12: A flag with the logo of Jasmine Paints, a company under the flagship of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.</p>

<p style="text-align:justify">Issuing a press statement, the company informs that it is the first paint company to wave the flag on the top of Everest. Additionally, it informs of conducting CSR activities from normal circumstances to the devastating earthquake of the last year and commits to continue such activities.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3553',
			'image' => '20160612124120_jasmine.JPG',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '3718',
			'article_category_id' => '1',
			'title' => 'CG's Cashback Scheme',
			'sub_title' => '',
			'summary' => 'June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products.',
			'content' => '<p style="text-align: justify;">June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products. Issuing a press statement, LG informed that it will provide LG Soundbar NB 2403 A worth Rs 17,790 on the purchases of 65 inches UG 870 T, 65 inches &nbsp;UF 850 T, 55 inches EC 930 T and 49 inches UF 850 T smart TVs under the scheme. Similarly, the company will provide LG Magic Motion Remote worth Rs 5090 on the purchases of 43 inches UF 690 T, 60 inches LF 630 T, 55 inches LF 630 T, 49 inches LF 630 T, 49 inches LF 5900, 43 inches LF 5900, 40 inches LF 630 T smart TVs.</p>

<p style="text-align: justify;">Likewise, the company will give heavy discount to its customers on the purchases of 32 inches LF571D. &nbsp;43 inches LF510A, 43 inches LF5400, 32 inches LF550B, 323 inches LF510A LED Game TVs are also available with heavy discount. According to the company, the scheme has been implemented from June 10.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3552',
			'image' => '20160612121954_cg.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '3716',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Starts Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level ‘C’ graded bank.',
			'content' => '<p>June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level &lsquo;C&rsquo; graded bank.</p>

<p>&ldquo;SDBL is the first bank to make the merger agreement after Nepal Rastra Bank (NRB) issued directive to increase paid up capital to Rs 8 billion,&rdquo; informed the bank in the program.</p>

<p>According to the bank, the bank has paid-up capital of Rs 1.14 billion, deposits of Rs 12 billion and Rs 10 billion loans after the merger. The bank claims to be the second largest development bank in terms of capital across the country. The branch number of the SDBL has reached 33 after the merger.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3550',
			'image' => '20160612115705_sid.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '3715',
			'article_category_id' => '1',
			'title' => 'NB Bank in Wildlife Conservation',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Bangladesh Bank (NB) will continue wildlife conservation program under its corporate social responsibility. The bank is promoting the second edition of ‘Nature through Lens’ fair in this regard. Moreover, the bank will tie up with Wildlife Conservation Nepal for this purpose. Additionally, the bank will establish a fund to plant highly valued 25,000 plants. The bank will also organize awareness program for nature conservation through photography.',
			'content' => '<p style="text-align:justify">June 10: Nepal Bangladesh Bank (NB) is starting wildlife conservation campaign under its CSR initiative. The bank is promoting the second edition of &lsquo;Nature through Lens&rsquo; fair. The bank is partnering with the Wildlife Conservation Nepal for the purpose. In addition to the new initiative, the NB bank will establish a fund to plantation of 25,000 highly valued plants. The bank will also organise awareness program for the nature conservation through photography.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3549',
			'image' => '20160610042349_nb.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '3714',
			'article_category_id' => '1',
			'title' => 'MoneyGram Partners with iPay',
			'sub_title' => '',
			'summary' => 'June 10:  MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram’s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. “This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,” the company said in a press statement.  ',
			'content' => '<p>June 10: &nbsp;MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram&rsquo;s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. &ldquo;This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,&rdquo; the company said in a press statement. &nbsp;</p>

<p>Sheshagiri Malliah, MoneyGram&rsquo;s Regional Director (South Asia) and Surhid Ghimire, President of Continental Group jointly inaugurated the dedicated Centre for MoneyGram Payment Service and Customer Support at Bhatbhateni, Kathmandu on June 9. &ldquo;With MoneyGram Global Send Network, customer can collect fund from authorized outlet of iPay&rsquo;s centers spread across Nepal,&rdquo; reads the statement. &nbsp;</p>

<p>&ldquo;MoneyGram is committed to making its services easy and convenient for all of its customers in Nepal and the thousands of expatriates that remit money back home,&rdquo; says Malliah. &ldquo;By partnering with iPay, our customers in Nepal will have more choices especially in convenience to collect payments sent globally.&rdquo;</p>

<p><strong>Talk Time Scheme</strong></p>

<p>Marking the occasion, iPay announces free talk time to its MoneyGram Customers. Under the scheme, customer receiving payment will receive a scratch card and lucky winner can win talk time value up to Rs 1,000. Further, the company also committed that none of their MG customers will be returned empty handed. &nbsp;The company has aimed to bring programs to benefit the customers and its agent partner in annual basis.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3548',
			'image' => '20160610040842_money gram.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '3713',
			'article_category_id' => '1',
			'title' => 'COLORS Launches P50',
			'sub_title' => '',
			'summary' => 'June 10: Colors Mobile has launched new X-Factor Pride P50 smartphone in its Pride Series. “To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50% of the data plan,” informs the company in a press statement.',
			'content' => '<p>June 10: Colors Mobile has launched new X-Factor Pride P50 in the market. The handset is the latest in the Colors Pride series smartphone. &ldquo;To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50 percent of the data plan,&rdquo; informs the company in a press statement.</p>

<p>Colors X-Factor P50 comes with a 5 inch HD IPS Screen and 8GB ROM along with 1GB RAM which can be further expandable up to 32GB by micro-SD card. Powered by a 1.3 GHz quad-core processer, the new Colors smartphone has 5 MP rear and 2 MP front cameras.</p>

<p>Running on Android Marshmallow 6.0 operating system, Pride P50 houses a 2,200 mAh Lithion-ion battery. &ldquo;With this new launch in Pride series, we &nbsp;not only want to upgrade the bar phone users to smart phone, but also to explore the widest usage with the latest smartphone features at budget price&rdquo;, says Raj Jung Thapa, Marketing Manager of Colors Mobile.</p>

<p>&ldquo;With the apt specifications that make life easier with best features, we have lots of hope with this new product in this line, with the sleek and stylish design like no other product in Nepalese Market&rdquo; says Sanjay Agrawal, CEO of Teletalk, the authorised distributor of Colors mobiles in Nepal. The smartphone is priced at Rs. 7,495.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3547',
			'image' => '20160610021307_p50.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '3712',
			'article_category_id' => '1',
			'title' => 'Suzuki’s Free Check-up and Exchange Camp',
			'sub_title' => '',
			'summary' => 'June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. “Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12” said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.',
			'content' => '<p>June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. &ldquo;Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12&rdquo; said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.</p>

<p>The camp also included vehicle exchange facility (old with new). The company is also offering finance facility on five percent interest rate on the exchange of vehicles. Meanwhile, free ownership transfer and discount on vehicle tax are also available for the buyers. &nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3546',
			'image' => '20160610020404_suzuki.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '3711',
			'article_category_id' => '1',
			'title' => 'MoneyGram Foundation Rebuilds 10 Schools ',
			'sub_title' => '',
			'summary' => 'June 10: MoneyGram (NASDAQ: MGI) has completed the construction of ten primary schools in the areas devastated by the last year’s earthquake.  “The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,” informs the company in a press statement.  According to the statement, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal. ',
			'content' => '<p style="text-align:justify">June 10:&nbsp;MoneyGram &nbsp;has completed the construction of ten primary schools in the areas devastated by the last year&rsquo;s earthquake.&nbsp; &ldquo;The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,&rdquo; informs the international money transfer service in a press statement.&nbsp; According to the company, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal.&nbsp;</p>

<p>&nbsp;&ldquo;We hope the schools we built with Chaudhary Foundation will transform the lives of these students and enable them to make a significant contribution to rebuild Nepal beyond the 2015 earthquakes that devastated their school system and communities,&rdquo; said SheshaGiri Malliah, MoneyGram&rsquo;s Regional Director for South Asia.</p>

<p>&ldquo;Chaudhary Foundation has always welcomed and facilitated anyone who would like to support Nepal. MoneyGram Foundation&rsquo;s support in the past 12 months has been deeply appreciated and we hope in the future too they continue to support the development of Nepal,&rdquo; said Moon Lee, Vice President of Chaudhary Group.</p>

<p>More than 4 million students were affected after almost 30,000 school buildings were severely damaged or completely destroyed by last year&rsquo;s earthquake.&ldquo; The rebuilding effort has been informed to respective authorities and headed by construction engineers working with the Chaudhary Foundation who work on cost to cost basis without overheads and administrative expenses,&rdquo; reads the statement.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3545',
			'image' => '20160610125835_money.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '3710',
			'article_category_id' => '1',
			'title' => 'Pigeon's Ultra Modern Kitchen Appliance in Nepal',
			'sub_title' => '',
			'summary' => 'June 10: CG electronics has launches Pigeon's wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.',
			'content' => '<p style="text-align: justify;">June 10: CG electronics has launches Pigeon&#39;s wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3544',
			'image' => '20160610121737_pegion.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '3709',
			'article_category_id' => '1',
			'title' => 'NLIC Appoints Siddhartha Capital as Issue Manager ',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. “The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,” informs the company in a press statement.',
			'content' => '<p style="text-align:justify">June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. &ldquo;The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,&rdquo; informs the company in a press statement.</p>

<p style="text-align:justify">Bibek Jha, CEO of Nepal Life Insurance and Dhurba Timilsina, CEO of Siddhartha Capital signed on the agreement on June 9.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3543',
			'image' => '20160610115931_Nepal life.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 14 => array(
		'Article' => array(
			'id' => '3708',
			'article_category_id' => '1',
			'title' => 'FPO with the Highest Premium till Date in the Offing',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance (NLIC) is planning to issue its further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of FPO at the price of Rs 2951 per unit. The premium rate is the highest of all time. NLIC will collect Rs 9.13 billion if it issues the FPO in the said rate. Presently, the company has Rs 1.73 billion paid-up capital.',
			'content' => '<p>June 10: Nepal Life Insurance (NLIC) is planning to issue further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of shares at the price of Rs 2,951 per unit. The premium rate of the company has been recorded highest of all time. NLIC will collect Rs 9.13 billion with the proposed FPO. Presently, the company has Rs 1.73 billion in paid-up capital.</p>

<p>Earlier, Nepal Telecom had issued equity shares at premium through auction bidding. During the auction bidding, shares of NT pegged maximum of Rs 2,500 per unit. Although investors refuse to mention the shares premium since NT sold the shares by auction bidding. However, there is a mechanism to issue primary shares at premium too. Securities Registration and Issue Regulation 2008 has clearly mentioned that securities may be issued at premium while remaining within the limit of Net Worth per Share derived from the latest audit.</p>

<p>The regulation however has not set limit on premium amount while issuing FPO. Even though companies cannot charge any rate as premium while issuing general shares. The premium that the company wished to levied should be justified and based by the financial indicators of the company. &ldquo;The regulation demands basis and justification of price. We decide the appropriate rate only after studying the rate,&rdquo; says Niraj Giri, Spokesperson and Executive Director of the Securities Board of Nepal (SEBON).</p>

<p>FPO price is fixed on the basis of net worth and market price of the proceeding company. Currently, the&nbsp;<span style="line-height:20.8px">NLIC share&nbsp;</span><span style="line-height:1.6">price has increased by Rs 408 to Rs 4,488 in the secondary market. Similarly, the net worth per share of the company in the third quarter of the current FY is at Rs 149. The proposed price is 20 folds more than the net worth and 65.75 percent of the market price of the company&rsquo;s share. Interestingly, Shikhar Insurance and Nepal Investment Bank Limited that have issued FPO earlier in the year had also fixed their share price at 65-75 percent of their market price.</span></p>

<p>SEBON, however, has stated that only after the detailed study of the proposed price, approval will be given to the proposed rate.&nbsp;</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3542',
			'image' => '20160610115236_nepal insurance.jpg',
			'article_date' => '2016-06-10 00:00:00',
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$current_user = null
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$xml = false
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

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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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    if(!$xml = simplexml_load_file($file)){
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$articles = array(
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		'Article' => array(
			'id' => '3723',
			'article_category_id' => '1',
			'title' => 'SEBON and NEPSE Dispute over NLIC FPO',
			'sub_title' => '',
			'summary' => 'June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). SEBON has halted the share trading of NLIC citing publicising further public issue (FPO) plan without obtaining approval from SEBON. Recently, NLIC has publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.',
			'content' => '<p style="text-align: justify;">June 12: Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) to halt the share trading of Nepal Life Insurance Company Limited (NLIC). The regulator issued the directive citing that the NLIC has made the further public offering (FPO) plan public without obtaining approval from SEBON. NLIC publicised its FPO plan of issuing 3,096,429 units of shares at Rs 2,951.</p>

<p style="text-align: justify;">NLIC announced the FPO plan by sending the information to NEPSE. Earlier, NEPSE directed companies to inform such influential decisions before the opening of the market. As per NEPSE&rsquo;s directive, if such decisions are taken after the closure of the market, then such decisions have to be informed by the next day before the market opens. Apparently, NEPSE posted the information at 10:47 AM on June 9 in its website. SEBON expressed its fury over NEPSE&rsquo;s for directly publicising the information.</p>

<p style="text-align: justify;">&ldquo;Why did NEPSE post such information that needs justification as the premium quoted is high,&rdquo; says Dr Rewat Bahadur Karki, Chairman of SEBON. According to him, NEPSE should have consulted with SEBON before publicising the information.</p>

<p style="text-align: justify;">Meanwhile, NEPSE clarifies that it took the action after evaluating the risk of potential leakage of the information which would have further manipulated the market. The stock exchange maintained that it was forced to make the information public as holding of such information for a long period would have meant otherwise. Nevertheless, both SEBON and NEPSE agree that the company&rsquo;s acts were aimed towards manipulation of the market. &nbsp;SEBON in this regard hinted of taking action against the related company. &ldquo;How can the company fix a premium?,&rdquo; questioned Karki.</p>

<p style="text-align: justify;">However, NEPSE opined that SEBON is letting the companies to fix such prices. &ldquo;It is SEBON&rsquo;s weakness not to set limit for premium rates in FPOs as in IPOs,&rdquo; says a NEPSE source. The source also mentioned that such problem would not have appeared if the regulator had revealed the setting of premium rates in earlier FPOs.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3557',
			'image' => '20160612031818_NEPSE.jpg',
			'article_date' => '2016-06-12 00:00:00',
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		'Article' => array(
			'id' => '3722',
			'article_category_id' => '1',
			'title' => 'Ncell Saddened by Attacks on Telecom Infrastructure',
			'sub_title' => '',
			'summary' => 'June 12: Ncell has expressed its sadness on the arson of its telecom infrastructures. Some unidentified groups set Ncell's 10 base stations (BTS) on fire on June 11, damaging important infrastructures in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, "Attacks on critical infrastructures that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.',
			'content' => '<p>June 12: Ncell has expressed its&nbsp;sadness over the arson and sabotage&nbsp;of its telecom infrastructures. Some unidentified groups set Ncell&#39;s 10 base stations (BTS) on fire on June 11, damaging important infrastructure in Salyan, Dang, Kaski, Jhapa, Myagdi, Dhankua, Morang, Baglung and Gorkha districts. Issuing a press statement, the company said, &quot;Attacks on critical infrastructure that serving people with highly essential communications services is unlawful and serious offence. Ncell would like to request all concerned to refrain from such activities.&quot;</p>

<p>The company informs that after the arsons and sabotages, about 250,000 its customers have become&nbsp;networkless. Mahendra Bhattachan, security director of Ncell said, &ldquo;After this attack, the rights on network access of public have been violated.&quot; Ncell also appeals to the authorities for their support to uphold essential services law so that highly essential services are not disturbed.</p>

<p>&ldquo;We would also like to request all to be cautious towards such unruly activities that could affect Ncell&rsquo;s 14 million customers directly indirectly,&rdquo; said Milan Sharma, Corporate Communications Expert of Ncell.&nbsp;</p>
',
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			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3556',
			'image' => '20160612014525_ncell.jpg',
			'article_date' => '2016-06-12 00:00:00',
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	(int) 2 => array(
		'Article' => array(
			'id' => '3721',
			'article_category_id' => '1',
			'title' => 'Shine Resunga and Gaumukhi Start Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.',
			'content' => '<p>June 12: Shine Resunga Development Bank and Gaumukhi Bikas Bank have started the joint transaction from June 11. After the merger, the joint transactions have been started in the name of Shine Resunga Development bank.</p>

<p>The joint transaction was inaugurated by the Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. Speaking at the inauguration ceremony, Nepal said, &ldquo;Many banks are encouraged due to the new provision of paid-up capital&rdquo;. According to him, the paid-up capital of the banks has been increased to leap in economic development of the country.</p>

<p>After the merger, the paid-up capital and deposits of the bank have reached Rs 868.4 million and Rs 8.4 billion respectively. &ldquo;Following the merger, the bank will provide its services through 26 branches including the central office in Butwal and two extension counters,&rdquo; says Prakash Poudel, CEO of the bank.</p>

<p>Similarly, the bank has announced to donate Rs 50,001 for the development of cultural and tourist area, Swargadwari.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3555',
			'image' => '20160612013344_shine.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '3720',
			'article_category_id' => '1',
			'title' => 'IME in 16th year ',
			'sub_title' => '',
			'summary' => 'June 12: Remittance Company IME has entered in 16th year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.',
			'content' => '<p style="text-align: justify;">June 12: Remittance Company IME has entered in 16<sup>th</sup> year of its establishment from June 10. On this occassion, IME organised various program including blood donation program. In the program, 79 people donated their blood including Chairman, employees, partners and well-wishers of the company.</p>

<p style="text-align: justify;">According to the company, it has been assisting health security, social causes, and education and environment sectors through its CSR activities. In the anniversary program, the company honored the employees who have worked for a decade in the company and who performed best in various categories.</p>

<p style="text-align: justify;">The company that has been providing international remittance services to its customers was established in 2001. Presently, the company has nearly 100,000 agent outlets worldwide and 5000 agent outlets in internal remittance including 140 IME centers and 4,800 agent outlets.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3554',
			'image' => '20160612012107_ime.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '3719',
			'article_category_id' => '1',
			'title' => 'Flag of Jasmine Paints on Mt. Everest',
			'sub_title' => '',
			'summary' => 'June 12: A flag with the logo of Jasmine Paints, a subsidiary company of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.',
			'content' => '<p style="text-align:justify">June 12: A flag with the logo of Jasmine Paints, a company under the flagship of Manakamana Group, has been taken to the summit of Mt. Everest. Jasmine Paints was launched in the Nepali market since 1995. The company waved its flag on the summit of Everest through its representative Nawang Narbu Sherpa (Maila) on May 19.</p>

<p style="text-align:justify">Issuing a press statement, the company informs that it is the first paint company to wave the flag on the top of Everest. Additionally, it informs of conducting CSR activities from normal circumstances to the devastating earthquake of the last year and commits to continue such activities.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3553',
			'image' => '20160612124120_jasmine.JPG',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '3718',
			'article_category_id' => '1',
			'title' => 'CG's Cashback Scheme',
			'sub_title' => '',
			'summary' => 'June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products.',
			'content' => '<p style="text-align: justify;">June 12: CG Electronics has launched LG cash-back offer schemes on the references of Euro Cup 2016. Under the scheme, the customers of LG brand will get various guaranteed gift hampers and heavy discount on LG products. The customers will get discount up to Rs 116,000 on the purchase of CG products. Issuing a press statement, LG informed that it will provide LG Soundbar NB 2403 A worth Rs 17,790 on the purchases of 65 inches UG 870 T, 65 inches &nbsp;UF 850 T, 55 inches EC 930 T and 49 inches UF 850 T smart TVs under the scheme. Similarly, the company will provide LG Magic Motion Remote worth Rs 5090 on the purchases of 43 inches UF 690 T, 60 inches LF 630 T, 55 inches LF 630 T, 49 inches LF 630 T, 49 inches LF 5900, 43 inches LF 5900, 40 inches LF 630 T smart TVs.</p>

<p style="text-align: justify;">Likewise, the company will give heavy discount to its customers on the purchases of 32 inches LF571D. &nbsp;43 inches LF510A, 43 inches LF5400, 32 inches LF550B, 323 inches LF510A LED Game TVs are also available with heavy discount. According to the company, the scheme has been implemented from June 10.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3552',
			'image' => '20160612121954_cg.jpg',
			'article_date' => '2016-06-12 00:00:00',
			'homepage' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '3716',
			'article_category_id' => '1',
			'title' => 'Siddhartha Development Starts Joint Transaction',
			'sub_title' => '',
			'summary' => 'June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level ‘C’ graded bank.',
			'content' => '<p>June 12: Ekta Bikas Bank and Nepal Aawas Finance Limited have merged with Siddhartha Development Bank Limited (SDBL). The merger bank has started the joint transaction from June 10. The joint transaction was inaugurated by Finance Minister, Bishnu Poudel. Among the banks that merged into SDBL, Ekta Bikas bank has operation in 10 districts and Aawas Finance is the national level &lsquo;C&rsquo; graded bank.</p>

<p>&ldquo;SDBL is the first bank to make the merger agreement after Nepal Rastra Bank (NRB) issued directive to increase paid up capital to Rs 8 billion,&rdquo; informed the bank in the program.</p>

<p>According to the bank, the bank has paid-up capital of Rs 1.14 billion, deposits of Rs 12 billion and Rs 10 billion loans after the merger. The bank claims to be the second largest development bank in terms of capital across the country. The branch number of the SDBL has reached 33 after the merger.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-12',
			'modified' => '2016-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3550',
			'image' => '20160612115705_sid.jpg',
			'article_date' => '2016-06-12 00:00:00',
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		'Article' => array(
			'id' => '3715',
			'article_category_id' => '1',
			'title' => 'NB Bank in Wildlife Conservation',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Bangladesh Bank (NB) will continue wildlife conservation program under its corporate social responsibility. The bank is promoting the second edition of ‘Nature through Lens’ fair in this regard. Moreover, the bank will tie up with Wildlife Conservation Nepal for this purpose. Additionally, the bank will establish a fund to plant highly valued 25,000 plants. The bank will also organize awareness program for nature conservation through photography.',
			'content' => '<p style="text-align:justify">June 10: Nepal Bangladesh Bank (NB) is starting wildlife conservation campaign under its CSR initiative. The bank is promoting the second edition of &lsquo;Nature through Lens&rsquo; fair. The bank is partnering with the Wildlife Conservation Nepal for the purpose. In addition to the new initiative, the NB bank will establish a fund to plantation of 25,000 highly valued plants. The bank will also organise awareness program for the nature conservation through photography.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3549',
			'image' => '20160610042349_nb.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '3714',
			'article_category_id' => '1',
			'title' => 'MoneyGram Partners with iPay',
			'sub_title' => '',
			'summary' => 'June 10:  MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram’s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. “This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,” the company said in a press statement.  ',
			'content' => '<p>June 10: &nbsp;MoneyGram has announced its collaboration with iPay Reliable, a Nepali payment services company in a bid to expand its reach in Nepal. The agreement has increased MoneyGram&rsquo;s network in Nepal to more than 500 convenient locations where customers of MoneyGram can use money transfer services. &ldquo;This is critical as it increases the choices for its consumers that need to pick up money send by their families and friends who are working abroad,&rdquo; the company said in a press statement. &nbsp;</p>

<p>Sheshagiri Malliah, MoneyGram&rsquo;s Regional Director (South Asia) and Surhid Ghimire, President of Continental Group jointly inaugurated the dedicated Centre for MoneyGram Payment Service and Customer Support at Bhatbhateni, Kathmandu on June 9. &ldquo;With MoneyGram Global Send Network, customer can collect fund from authorized outlet of iPay&rsquo;s centers spread across Nepal,&rdquo; reads the statement. &nbsp;</p>

<p>&ldquo;MoneyGram is committed to making its services easy and convenient for all of its customers in Nepal and the thousands of expatriates that remit money back home,&rdquo; says Malliah. &ldquo;By partnering with iPay, our customers in Nepal will have more choices especially in convenience to collect payments sent globally.&rdquo;</p>

<p><strong>Talk Time Scheme</strong></p>

<p>Marking the occasion, iPay announces free talk time to its MoneyGram Customers. Under the scheme, customer receiving payment will receive a scratch card and lucky winner can win talk time value up to Rs 1,000. Further, the company also committed that none of their MG customers will be returned empty handed. &nbsp;The company has aimed to bring programs to benefit the customers and its agent partner in annual basis.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3548',
			'image' => '20160610040842_money gram.jpg',
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		'Article' => array(
			'id' => '3713',
			'article_category_id' => '1',
			'title' => 'COLORS Launches P50',
			'sub_title' => '',
			'summary' => 'June 10: Colors Mobile has launched new X-Factor Pride P50 smartphone in its Pride Series. “To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50% of the data plan,” informs the company in a press statement.',
			'content' => '<p>June 10: Colors Mobile has launched new X-Factor Pride P50 in the market. The handset is the latest in the Colors Pride series smartphone. &ldquo;To help the smartphone users economize the data plan for internet usage; Colors Lite will be pre-installed in all the Colors smartphones that saves 50 percent of the data plan,&rdquo; informs the company in a press statement.</p>

<p>Colors X-Factor P50 comes with a 5 inch HD IPS Screen and 8GB ROM along with 1GB RAM which can be further expandable up to 32GB by micro-SD card. Powered by a 1.3 GHz quad-core processer, the new Colors smartphone has 5 MP rear and 2 MP front cameras.</p>

<p>Running on Android Marshmallow 6.0 operating system, Pride P50 houses a 2,200 mAh Lithion-ion battery. &ldquo;With this new launch in Pride series, we &nbsp;not only want to upgrade the bar phone users to smart phone, but also to explore the widest usage with the latest smartphone features at budget price&rdquo;, says Raj Jung Thapa, Marketing Manager of Colors Mobile.</p>

<p>&ldquo;With the apt specifications that make life easier with best features, we have lots of hope with this new product in this line, with the sleek and stylish design like no other product in Nepalese Market&rdquo; says Sanjay Agrawal, CEO of Teletalk, the authorised distributor of Colors mobiles in Nepal. The smartphone is priced at Rs. 7,495.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3547',
			'image' => '20160610021307_p50.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '3712',
			'article_category_id' => '1',
			'title' => 'Suzuki’s Free Check-up and Exchange Camp',
			'sub_title' => '',
			'summary' => 'June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. “Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12” said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.',
			'content' => '<p>June 10: Suzuki Summer Free Check-Up and Exchange Camp is being held at Suzuki Service Center at Dhodhighat, Lalitpur. &ldquo;Starting from June 10, the camp will provide free general check-up for Suzuki vehicles till 12&rdquo; said Service Center Head, Madhu Sudhan Sigdel. The company is offering 10 percent discount on spare parts and accessories and 50 percent discount on labour charge to its customers on the occasion. Similarly, complementary wash on vehicles and summer vehicle care tips including other services are also being provided at the camp.</p>

<p>The camp also included vehicle exchange facility (old with new). The company is also offering finance facility on five percent interest rate on the exchange of vehicles. Meanwhile, free ownership transfer and discount on vehicle tax are also available for the buyers. &nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3546',
			'image' => '20160610020404_suzuki.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '3711',
			'article_category_id' => '1',
			'title' => 'MoneyGram Foundation Rebuilds 10 Schools ',
			'sub_title' => '',
			'summary' => 'June 10: MoneyGram (NASDAQ: MGI) has completed the construction of ten primary schools in the areas devastated by the last year’s earthquake.  “The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,” informs the company in a press statement.  According to the statement, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal. ',
			'content' => '<p style="text-align:justify">June 10:&nbsp;MoneyGram &nbsp;has completed the construction of ten primary schools in the areas devastated by the last year&rsquo;s earthquake.&nbsp; &ldquo;The schools have been constructed with coordinated effort between the MoneyGram Foundation and the Chaudhary Foundation,&rdquo; informs the international money transfer service in a press statement.&nbsp; According to the company, MoneyGram Foundation provided $80,000 to build 10 community schools in 14 of the worst affected districts in Nepal.&nbsp;</p>

<p>&nbsp;&ldquo;We hope the schools we built with Chaudhary Foundation will transform the lives of these students and enable them to make a significant contribution to rebuild Nepal beyond the 2015 earthquakes that devastated their school system and communities,&rdquo; said SheshaGiri Malliah, MoneyGram&rsquo;s Regional Director for South Asia.</p>

<p>&ldquo;Chaudhary Foundation has always welcomed and facilitated anyone who would like to support Nepal. MoneyGram Foundation&rsquo;s support in the past 12 months has been deeply appreciated and we hope in the future too they continue to support the development of Nepal,&rdquo; said Moon Lee, Vice President of Chaudhary Group.</p>

<p>More than 4 million students were affected after almost 30,000 school buildings were severely damaged or completely destroyed by last year&rsquo;s earthquake.&ldquo; The rebuilding effort has been informed to respective authorities and headed by construction engineers working with the Chaudhary Foundation who work on cost to cost basis without overheads and administrative expenses,&rdquo; reads the statement.</p>
',
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			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3545',
			'image' => '20160610125835_money.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '3710',
			'article_category_id' => '1',
			'title' => 'Pigeon's Ultra Modern Kitchen Appliance in Nepal',
			'sub_title' => '',
			'summary' => 'June 10: CG electronics has launches Pigeon's wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.',
			'content' => '<p style="text-align: justify;">June 10: CG electronics has launches Pigeon&#39;s wide range of ultra modern kitchen appliances. Issuing a press statement, the company has informed that the ultra modern kitchen appliances of pigeon brand will make the kitchen truly special. Being a pioneer in superior kitchen solutions in India, the company believes that brand will strive to make every product meet the discerning needs of the consumer. CG Impex is an exclusive authorized importer and distributer in Nepal for pigeon brand.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3544',
			'image' => '20160610121737_pegion.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 13 => array(
		'Article' => array(
			'id' => '3709',
			'article_category_id' => '1',
			'title' => 'NLIC Appoints Siddhartha Capital as Issue Manager ',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. “The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,” informs the company in a press statement.',
			'content' => '<p style="text-align:justify">June 10: Nepal Life Insurance has appointed Siddhartha Capital as its Issue Manager. &ldquo;The appointment has been made to issue 3,096,429 units of Further Public Offer (FPO) shares to maintain the share proportion of 70:30 between promoters and general shareholder groups,&rdquo; informs the company in a press statement.</p>

<p style="text-align:justify">Bibek Jha, CEO of Nepal Life Insurance and Dhurba Timilsina, CEO of Siddhartha Capital signed on the agreement on June 9.</p>
',
			'published' => true,
			'created' => '2016-06-10',
			'modified' => '2016-06-10',
			'keywords' => '',
			'description' => '',
			'sortorder' => '3543',
			'image' => '20160610115931_Nepal life.jpg',
			'article_date' => '2016-06-10 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '3708',
			'article_category_id' => '1',
			'title' => 'FPO with the Highest Premium till Date in the Offing',
			'sub_title' => '',
			'summary' => 'June 10: Nepal Life Insurance (NLIC) is planning to issue its further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of FPO at the price of Rs 2951 per unit. The premium rate is the highest of all time. NLIC will collect Rs 9.13 billion if it issues the FPO in the said rate. Presently, the company has Rs 1.73 billion paid-up capital.',
			'content' => '<p>June 10: Nepal Life Insurance (NLIC) is planning to issue further public issue (FPO) with the highest premium till date. When a company re-issues its equity shares to general public, it is called FPO. The company is issuing 3,096,429 units of shares at the price of Rs 2,951 per unit. The premium rate of the company has been recorded highest of all time. NLIC will collect Rs 9.13 billion with the proposed FPO. Presently, the company has Rs 1.73 billion in paid-up capital.</p>

<p>Earlier, Nepal Telecom had issued equity shares at premium through auction bidding. During the auction bidding, shares of NT pegged maximum of Rs 2,500 per unit. Although investors refuse to mention the shares premium since NT sold the shares by auction bidding. However, there is a mechanism to issue primary shares at premium too. Securities Registration and Issue Regulation 2008 has clearly mentioned that securities may be issued at premium while remaining within the limit of Net Worth per Share derived from the latest audit.</p>

<p>The regulation however has not set limit on premium amount while issuing FPO. Even though companies cannot charge any rate as premium while issuing general shares. The premium that the company wished to levied should be justified and based by the financial indicators of the company. &ldquo;The regulation demands basis and justification of price. We decide the appropriate rate only after studying the rate,&rdquo; says Niraj Giri, Spokesperson and Executive Director of the Securities Board of Nepal (SEBON).</p>

<p>FPO price is fixed on the basis of net worth and market price of the proceeding company. Currently, the&nbsp;<span style="line-height:20.8px">NLIC share&nbsp;</span><span style="line-height:1.6">price has increased by Rs 408 to Rs 4,488 in the secondary market. Similarly, the net worth per share of the company in the third quarter of the current FY is at Rs 149. The proposed price is 20 folds more than the net worth and 65.75 percent of the market price of the company&rsquo;s share. Interestingly, Shikhar Insurance and Nepal Investment Bank Limited that have issued FPO earlier in the year had also fixed their share price at 65-75 percent of their market price.</span></p>

<p>SEBON, however, has stated that only after the detailed study of the proposed price, approval will be given to the proposed rate.&nbsp;</p>
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			'created' => '2016-06-10',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '3542',
			'image' => '20160610115236_nepal insurance.jpg',
			'article_date' => '2016-06-10 00:00:00',
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